Why Money Isn’t What You Think it Is

Transcript

(introductions)

Matt 1:01
And this week, we are talking about a couple of videos that we all watched. Just recently, Mike Maloney’s series, the hidden secrets of money, episodes nine and 10. I’m a big fan of Mike Maloney, personally, you know, there’s, he’s in the gold business, but he’s not like exclusively all about gold, and everything else sucks. You know, there’s, there’s people in the industry that are like that, I think, you know, for me, I can no longer take Peter Schiff very seriously. Whereas, Mike, he’s, he’s open to everything, and I love it. What do you guys think about Mike?

Austin 1:44
For me, Mike is like i for i have a degree in finance. And, you know, there’s so much that people don’t understand about money, and the economics and the economy and how it all works. And I’ve multiple times throughout the years, have shown people episode number four of the hidden secrets of money that basically talks about how our current system works and how it’s a giant scam. But I love Mike, because it is, yeah, it’s I’ve watched him over the years, he does have a passion for helping people understand. And then obviously, he believes that if you understand, then you will, over time become a much more long term customer of his for gold and silver and precious metals. And he makes a good case that over time, that is kind of what, four or 5000 6000 years, that is where the human race have gotten its money, and it keeps coming back to those precious metals. And so he obviously has a slant on what he teaches. But at the same time, I think he stays away from it being his entire motivation. And I love his educational series, because he rarely, I think maybe in all 10 episodes, you may be mentioned, you know, his company, maybe twice, and it’s and it’s not in a combined my wares, you know, sell you hard, it’s more just like, Hey, if you’re, if you if you think what I think I think you should own some golden silver. But that’s about it. So it’s it’s really a kind of a safe approach to educating yourself through somebody who’s got a motivation. That’s not necessarily completely.

Matt 3:33
You’re scaring the children.

Austin 3:38
It’s like completely in your face with just all these sales tactics and fear tactics and stuff. It’s more educational. And I think it’s genuine.

Jen 3:46
And I think even in his the ones that we watched in 910, he was talking about how different governments were putting different laws and whatever on different companies. And he got he said in his in that, that he had to take company out of California because of these things. And I’m over at Matt, I’m like, what’s this company? Like? I had no idea. And so I think that in itself says, you know, he wasn’t trying to push his own agenda, at least that’s what I took from it not knowing this company.

Austin 4:17
And we should probably say, this is not an official endorsement of goldsilver.com, but that isn’t. It isn’t. It isn’t endorsement of Mike Maloney. Sure. So,

Matt 4:26
well, wait, wait, can we get an affiliate link going here?

David 4:32
Um, I actually, I have not really done a whole lot of digging into this stuff. But, um, I, I sort I looked up a term that they talked about at the end of video number 10. And it was, is I then I looked up the video on this term, ON calm, and I can’t even remember and OMDBC or something like that the meeting that the Fed does OFO FMC the FOMC. That what,

Christina 5:10
probably enroll me.

David 5:13
I looked it up. And I’m like, how can anybody think that this makes sense at all, like how this works. And I watched two videos, one of them was actually on Khan Academy. And the other one was some other, whatever, channel, but the second video was explaining how they manipulated, um, how they manipulated the meat, they printed out money and so on and so forth. And, and I was like, man, how can you not be completely freaked out? Not be completely thinking that, you know, gold, silver, or crypto is the way to go? Because this is all this whole system is is predicates on a group of people that meet every I don’t know, how often to me, like every year, every month,

Christina 6:06
committee meets every month. Yeah.

David 6:10
These people are saying…

Austin 6:11
and the worst part is that they’re not even government officials.

David 6:17
And this is a group..

Christina 6:18
It’s just economists right?

David 6:19
is a group of people that says, hey, you know, this month, this month, we’re gonna have a good economy. Let’s have a good economy this month, I think they’re due for it. Really? Holy crap!!

Austin 6:30
Before I understood any of this … I’ll never forget the day my dad, I asked my dad one day when I was younger, I said, What do you think is the most powerful man in the world? And he said, Alan Greenspan. And at the time, that was he was the head of the Fed. And I didn’t get it, but it and he, there are the most because there were dollars the US is the world reserve currency. So the speed of the dollar is typically the speed of the world. So every month, you have this table of people that essentially decide what yeah, it is they make these decisions on interest rates are man that just, and policy that most the average person has no clue that this group of people is could completely take away their life savings or change the world in one decision. And they often do.

Christina 7:21
They literally decide how much currency is in the system and the cost of that currency. That’s what I wrote down from the video that we watched. So So the point that they were making was free markets and capitalism aren’t failing, because we don’t have free markets and capitalism because it’s manipulated by these decisions.

Austin 7:41
Right? I mean, that’s, there’s so many things inside this discussion that if you kind of gloss over them, they’re these sentences that if you sat with that sentence, and then like, just thought about it, for five minutes, you would realize, wait a minute, we get we’ve got an entire generations railing against capitalism. Capitalism doesn’t exist. Like, capitalism does not exist in our world. It is it is no different than saying that our governments democracy, first of all, to Republic, which also doesn’t exist, like it’s just the whole thing is all it is the title of the episode 10 this is bread and circus. Yeah. I mean, it’s that reference to Rome, when you know, and you can see in the movie Gladiator if you remember the when the Emperor takes over, and he re institutes after was it was that it was the really smart Emperor that died early.

David 8:44
Aurelius, Marcus Aurelius.

Austin 8:45
But yeah, he dies his son takes over played by Joaquin Phoenix. And the first thing the son does is reopen the Coliseum. And their senators they’re talking like, and they talked about how he knows the the Emperor smart. And he opens the Colosseum because he knows that Rome was the mob. And if you keep the mob busy, you can take their freedoms one by one by one, and they won’t notice. And he has that whole like that, that kind of cool little speech, I’m going to butcher it. But you know, he says, take their freedoms, and they will chair you know, take their money and they will cheer take their take their lives, and they will cheer because they’re distracted. And, and so this episode 10 is basically showing us, you know, kind of parallels what Rome did with what the US and it’s not just the US, it’s every country, every major country in the world is doing this. That as their keep as we’re distracted. They’re our freedoms and everything. I mean, Patriot Act, just it gets the rabbit hole gets really deep, really quick. If you take five minutes and talk to anybody who knows what they’re talking about. You realize, Oh, crap, this is this sucks. I mean,

David 9:59
well, it’s funny, cuz he was he made the comment, um, when he was in, I think this is the first video when he’s when he’s talking about how Nixon takes us off the gold standard. And he says, and, and nothing happened to him where he made a comment. And they, they didn’t even hang him or something like talking about the president here. But you know, if you think about it, it that that act right there, put the whole power of the economy and messing with the economy into the hands of a private system. Basically, you’re, you’re you’re taking the the value of the currency and moving it from something from something like gold, something tangible to basically an idea or a an opinion of a group of people. And that’s where you’re putting it in. And that’s who has the power of know, you know, the power of our economy.

Joanie 11:03
They call our currency a lie. There’s a section in there where they’re interviewing someone, and he’s just laughing. He’s like, this is the greatest lie ever perpetuated across the entire globe, that we can just print money, with no basis, no backing, and we give it to other countries and they give us stuff for it. He’s like, this is amazing. We’re, it is just a total lie. The whole thing’s a sham.

David 11:28
That was that blew my mind that was like, yeah, someone’s like when the chickens gonna come home to roost when they get wise to this whole situation? Or when the whole house of cards just kind of starts to topple man, it’s gonna come down hard.

Joanie 11:45
Well, in some countries, some areas have that was one of the questions I know, in the oil industry. It used to be that oil was only traded in the dollar. And didn’t that recently change? Yes, that’s right. And now it’s not so they other countries that starting to get wise to it. And it caused a really big shake up globally. In the economies when the dollar wasn’t the standard for oil turns out?

Austin 12:09
Yeah. I mean, there’s there’s economists who believe that when was that? Just when that, but it’s not a couple years ago. It was a couple years ago, I’m all the years running together, at least in the last five years. But that there’s economists that will, you know, you can you can Google, you know, the day the dollar died. And you will find the economist basically saying when when OPEC decided to deal in other currencies, other than the dollar is the beginning of the end for the dollar, because that is so there’s so much history that these videos don’t talk about. Sure. One of the big ones is is Bretton Woods. And, and the agreements after World War II, that made the dollar largely what it was, and then you get Henry Kissinger coming in with OPEC. And I mean, that that makes it even more more valuable. And there was an agreement that basically said, Look, we’ll use the dollar as the world’s reserve currency, because the dollar is backed by gold. And so it was understood by all these countries, that we’re going to hold dollars, and you guys hold all the gold. And all we have to do is say, We want our gold, and we will give you your dollars back. And we’ll ship you the gold. And so overnight, Nixon comes in and says, Yeah, we’re not doing that anymore. Right. And so the, the position that the United States is in with the rest of the world only exists, essentially, because it’s one giant trick. It’s kind of the shell game of like you give us your gold will give you dollars. And now one, nobody knows where the gold is, right? They won’t, they won’t edit the Fed, they won’t edit Fort Knox. And there are countries that have been basically making deals in the backside on the back end, nonpublic deals to say, look, we’re getting our gold back. And countries are starting to stockpile gold. And

David 14:12
somebody just asked for their gold back a couple of years ago, and it was like, yeah, we’re gonna get it back to you in about 20 years or so. Exactly. Was it was it wasn’t like Germany or Germany.

Austin 14:21
Yep. And that was most public, but they’re not the only one. So if you if you know what you’re looking almost every country in the world is essentially demanding that this change. And so, you know, you’re talking about, so a lot of people would say, Well, I think even David, you said that when we’re the rest of the world gets wise, the whole house of cards, and the rest of the world is wise. They know what’s going on. And that’s why you have things like the BRICS nations are founded upon you, okay. Yeah, Brazil, Russia, India, China and South Africa, bricks, they formed a whole new monetary kind of IMF World Bank thing, where they’re not dealing with Eastern or Western Europe in the United States anymore. That’s the one that enacted when China and Russia started trading oil, not in dollars. Because people don’t realize the banking systems are set up, because you have all the security of that, like the swift banking system is the only system for years where you could wire money. Right on the Swift, Swift banking system is denominated in dollars. And so the BRICS system, they basically had to rebuild an entire infrastructure. And to make it so that they could wire other currencies as well. Yeah. So there’s, there’s so much going on, behind the scenes, and there’s so many ways in which the United States has truly controlled and manipulated and pissed off the rest of the world. But here’s the problem. Now everyone’s in the same bath. like nobody gets to get out of this. Because if you believe look at I think it’s episode number five, I’m not sure. The same trajectory is that the United States has for its economy for its ratios, you know, of GDP to currency, and all it’s like all these different ratios. If you go through and you look at whether it’s China, Singapore, Australia, Germany, Brazil, South Africa, like there’s not a single country who hasn’t followed the exact same charts. As United States, there’s nobody who’s financially stable, there is nobody who’s financially healthy. The only thing that we have over everyone else, is that we have the world’s reserve currency, and we can print as much as we want. And so the rest of the world is going you guys are screwing us all over. And they’re already screwed anyway. And I firmly firmly believe that this the intelligent people behind the scenes are fervently trying to create another system that can slide in underneath this, this behind this existing system. And there have been people on Bloomberg, there’s been Christine Lagarde for the IMF has gone public and set like different areas. She’s done. Like, there, there are public quiet yet public statements about someday you will wake up on a Saturday morning, and the entire global currency system will be reset. They just don’t advertise it. But there’s a very official people that have said, Yeah, we’re we’re working on that. Can you have a currency reset?

David 17:34
It’s going to be like, and everybody’s like, okay.

Austin 17:40
So currency and money. I mean, heck, who says gold is worth anything? Right? Yeah, you know, you can’t eat it. You can’t put you can’t wear it, why you can’t wear gold, but you can’t like shelter yourself with gold. And you know, it’s doesn’t give you the necessities of life. So even money, which Episode One of hidden hidden secrets, kind of describes the difference between currency, currency and money, I highly suggest watching that. But we don’t have money, we have currency. Right. And currency, by and large is fake. And money is real. But either one of them only exists because we believe in it. Right? If I believe and I put this in my article, if I believe that you can buy my used toaster for $20, then that $20 I believe that this toaster is worth $20 or $20 worth of toaster toaster is a real tangible item, you can actually do something with if I don’t, and I believe it’s worth $40, then it’s still about belief. So we know that on a macro level on a micro level that anything’s only worth what you’re willing to pay for it. And what you’re willing to pay for it is all about belief. And it’s an exchange of value. Well, let’s go macro with that, that the global currency reset, is essentially right now, we all believe that the US dollar is where it was our currency that the value of the dollar to the end or the dollar to the one or the dollar to the Russian ruble or whatever, that there’s roughly, you know, we all kind of have this belief system in place. Yet, underneath it, we all know it’s bullshit. Right? And so the question is, are we just going to say, Well, you know, we all just believe the bullshit, or do we? Or are there people starting realize this is unfair, the United States is literally controlling the world and has the world by the balls, and the rest of the world is not a big fan of it. So the global currency reset in, I guess, in the easiest way I can say it is, behind the scenes, I believe there are people making agreements about and based on different metrics, there’s different theories about what they’re doing. But in essence, that one day, we will wake up and all the powers that be, we’ll have a new belief system, ie, a new set of values for whose currencies are worth what. And a lot of the theories include that the debts of all the nation, you know, the world’s debt will be just kind of wiped clean, and they’ll figure out ways to kind of, you know, handle some of that, but, and I can drill down into that even more, if you guys want but in, in essence, a global currency reset is that we would wake up one day with a new belief system, about what’s worth what.

Joanie 20:32
And that can kind of sound like a fairy tale like, oh, that’ll never happen, but it has actually happened. countries have woken up and overnight, literally, their currency has changed. Overnight, it’s worth something completely different.

David 20:46
Argentina, did they do that? Something like the

Joanie 20:49
RJX. I know Mexico changed their currency quite a while

Austin 20:53
ago. There’s different versions of it. There’s revaluations redenominations. There’s there’s also you know, you can to have like Zimbabwe one day woke up and said, our currency doesn’t exist. So

Matt 21:07
big fan of that Zimbabwe, trillion dollar bag, guys.

Christina 21:11
What was the result of that?

David 21:14
Nothing? Well, what I was gonna, what I was gonna say here is like, last question. No, I know, a little bit. Like, if they say that it doesn’t exist. What can you do about it? Right? They just switch it, switch it on or off or whatever, do whatever you want,

Austin 21:33
You guys remember, and I just read India just last year said bills over 50 were didn’t are 50 or 500? I can’t remember. Like, we’re not going to order that they don’t exist.

Christina 21:36
So does that make super poor people

David 21:47
poorer?

Christina 21:49
Poorer , but if they have the good bills ,you just translated into smaller roles? Pardon my lack of understanding of how these things work, but

Austin 22:03
that’s the thing. These things don’t have a lot of math. All they have is politics and faith.

David 22:09
That’s Yeah, oh, my word.

Austin 22:12
Because literally, the United States, you know, they can they can tally up all the hundred dollar bills in circulation. And they could go, you know, what, one way to change our currency supply and handle some of these problems is we could just say that we don’t honor the hundred dollar bill anymore. And who’s going to do what about that? Right now, the United States being who it is, that’s arguably the most stable country in the sense that if they did that, they probably would cause world war three. So they probably won’t. But in a lot of countries, they do this stuff where there’s revaluations every year, and it’s usually a couple cents. And here’s the here’s the key, you can any country can do whatever the heck at once, as long as the rest of the world agrees with it. Because it’s all about faith. It’s all about belief. All right, we believe you, you know what you’re, you guys did discover a bunch of oil this year, will will agree that your currency is worth 10 cents more cool. Like it’s, there’s no stable or, you know, predictable system underneath it used to be gold, but even then, it’s still tied to like, okay, what’s gold worth? And how much is there? And so there’s just people don’t realize this, the whole system is 100%. All you have to all that has all that has to happen is enough people stop believing in it. And proof.

Joanie 23:38
Was the dollar The only gold backed currency or do other countries claim to have backed currency?

Austin 23:48
The dollar isn’t anymore?

Joanie 23:50
No, it’s not any more bad as that is that what gave the dollar its initial power was that we were a gold backed currency. Yes. And the rest of the world isn’t. It’s just currency,

Austin 24:01
the rest of the world had the it’s their smaller countries, I think that’s still do. But a lot of countries will back it with a sense of like, you know that they have a lot of oil or stuff like that. It’s not just gold anymore. But after World War Two, it largely was okay. You guys handle the money and will be will rebuild our countries, right, because the US didn’t other than Pearl Harbor didn’t really have to rebuild anything. And so it was the ability to kind of just be the bank and not have to do all this spending. And there’s a lot more, I’m super simplifying it. And if there’s any economist listening to this, I realized that I’m super, super simplifying it

Joanie 24:48
But that does explain how there could be a global currency reset, if we were the gold standard. And now we’re not the gold standard. And we’re just on par with every other country. And evaluation and global evaluation seems more plausible at that point.

David 25:04
That’s kind of why the light turned on for me when Austin made that comment earlier, because I’m like, Well, yeah, of course, that makes sense. from putting two and two together from what I from what he was saying. In regards to, to all these countries. We’re essentially the platform that all the other currencies were built on. Yes, we started being a platform that had the backing of gold, but then we’re, like you said, I don’t think we’re going to do that anymore.

Christina 25:32
Well, so do you think it’s likely that when they do the reset that it would be even remotely tied to the dollar in the sense that would they reevaluate the dollar to match the actual gold or? Yeah, but it just seems really, why don’t

David 25:45
you I went once you explain the Ricks sorry, BRICS ? Well, she, I screwed up her. Nice. Yeah, like in regards to what she just said in the BRICS because, um, I know, like, a lot of these countries that are in the BRICS , especially while I mean, Russia has a lot of resources. Brazil has a crap ton of oil, don’t they? And they basically don’t use any oil, because they’re almost like an 100% ethanol based economy or economy, a country like all most of their vehicles running ethanol, if I’m not mistaken. But like, they hold a lot, these countries hold a lot of sway in resources. And, and so how, how does that work with the other the rest of the world, in essence in in the valuation of the dollar?

Austin 26:52
I’ll let Matt go first. Because he looks like he’s just itching to say something. I just want to say that Brazil matters. It’s not Rick’s its BRICS!

Alright, so the audience already knows. I’m the bonafide conspiracy theorist. And so a global currency reset? Absolutely. Yeah, it absolutely counts on the list of the conspiracies that are out there. Although, again, you know, there are videos and archives of different officials around the world, talking about a reset, and talking about that, that they’re working on stuff. So what they’re working on, you can imagine with insider trading lines, and all sorts of stuff that there’s, in all the agreements, you know, when when different countries are like, you guys owe us trillions of dollars, are you just going to reset? Like, how are we going to settle this, you know, so there’s a lot that has to go into it. And that’s why I believe has been the works for 20 years. So the leading theory that I won’t name my sources, but the leading theory that I believe and for what it’s worth, and if you can take it or leave it, is that there, they have been doing, they’ve been auditing the world’s resources around the you know, in every country, essentially, we can pretty much know what kind of oil reserves countries have gold reserves, platinum, precious metals, farmland, you know, these the different things that though, it’s not just gold and silver anymore, it includes gold and silver, but it also includes, you know, the farmlands and stuff that has the value. So, you know, assets is basically the big word for it, and that they are working, that the system will be asset backed. So it’s not gold backed, but that it will be asset backed. And so, and then that mixed with some fancy math with every, you know, the debt, population size, the ability for country to actually capitalize on those assets. And kind of, again, it’s a fancy math that you may not even exist, I may just be spouting off another conspiracy. That doesn’t does not true. But it does make sense to me that if you’re going to go with a more global system, because think about it, guys, like until the internet and phones and and airplanes and trains like this is relatively new for the for the countries of the world to consider this as the assumption that they’re going to be doing business together. Right, I mean, back in, you know, for thousands of years, it was, at best a couple countries away. But the rarity of you know, France doing business with China, until just a few hundred years ago with East Indian trading company like that. That is not do we don’t have a lot of history with that. And so is now with technology and the speed of transactions and the speed of how we can buy and sell and trade. It’s it’s kind of a no brainer that we need a whole new way of viewing money. And I do believe that going asset backed makes a crap ton of sense. Because we do use more than gold and silver. And there are a lot of other factors into it about what kind of value a country can provide, when it’s, you know, with its population is a more educated population, or is it less educated properly, so there’s just a lot. But the idea is yes, that there will be a connection to a more definable value. And as countries discover more, you know, hey, we discovered a whole nother thing of oil, Austin, then it could affect what that currency is worth, and so on and so forth. It’s like hitting the lottery.

Christina 31:03
And so essentially, then, I had also seen a video with something talking about how energy is the main resource. And so therefore, if new energy is created, would that potentially be? You know, a big new technology? Yeah. And along with that, with what you’re saying, does that mean, it sounds to me like you’re saying that cryptocurrency is never going to be the currency essentially? Because it wouldn’t be asset backed? Or could that in some way, play into it?

Jen 31:47
With just I need those lines drawn to because I know he mentioned it a little bit. And like, he just threw the word out there. But how is that how is cryptocurrency different than printing? $1? Or because it’s not backed by gold? And why

Christina 32:03
it can be limited? At least? You can’t just print I mean, depending on the currency, correct that you it’s that it’s a limited currency. So it’s always going to be it’s, you’re never going to, quote unquote, print more of it, depending on the currency. Right? Definitely. However, however, it’s not. You couldn’t consider an asset back though, correct?

Matt 32:26
Well, depends what asset you’re talking about. I mean, electricity and super computing power are definitely assets. Okay.

Christina 32:33
But that’s Yeah,I don’t know.

David 32:37
They’re there is a crypto currency cryptocurrency that was backed by electricity, wasn’t it? Or something like that? I can’t remember.

Matt 32:48
And some of the crypto is are backed by gold too.

Christina 32:50
So. Okay. Yeah, really.

Austin 32:54
That’s the thing is, so cryptocurrency is more to in my mind, in this discussion. The the idea that we would get away from, you know, over time, completely get away from coins and paper and get to a more digitized system. But the question is, where’s the value coming from? Right. And I do think that I think there’s a chance that the technology of cryptocurrency could marry with the reality of government centralization. Which, of course, cryptocurrency purists like, you know, go into convulsions when they hear that, but, you know, that’s where the government’s trying to go. I mean, they’re, they’re going to try to, and if they don’t, they’re going to regulate the crap out of currency. You know, crypto is which they, they’re, you know, threatening to do and kind of doing and Matt would know way more about that than I do.

Matt 33:51
But I just think it’s a really interesting idea, because currencies have been used to like weapons in the past specially, you know, when wielded by the US and so I’m curious, you know, if, if there was to be some court, some sort of blockchain based currency that was not, you know, sovereign to a nation state, like how that changes things, like, if that’s even a possibility, or if it would purely, just be something that central banks would would issue and then be the same game under a different name, essentially.

Austin 34:23
What any, you know, in the end, I mean, it’s the rare person who’s going to die for a million dollars, right? or billion dollars, because in the end, the people the one with the gun and has a bullet is going to have more power than the guy with a billion dollars of any currency. And so that is as long as the governments of the world enforce, you know, the quote, unquote, the will of the people through force, then I think money in currency will always be secondary, and will always be subject to the ones who have the force because in the end, like all every every crypto owner in the in the world could essentially be locked down at some point through force if they decided to do that. That is the challenge of the crypto and you know, I’m I love cryptocurrency liberal, libertarian ideas, and I do think it’s a problem. I am certainly not sitting here going this is great guys more power in the government. No, I’m, it’s stupid, but you know, it currently being aware of what they’re trying to do or what they might be doing. I think it’s helpful

David 35:43
Now how exactly I mean, I know, the government can regulate the cell, the sale in in the purchase of, of crypto, but the fact remains, let’s say, you know, what’s, what’s Bitcoin out right now? 9300 holy crap. Whoo.

Matt 36:07
For references, June 17.

David 36:12
Let’s say let’s say that I’m, that I have one or two. And I want to sell them, but I can’t sell them here in the States. And I can’t I can’t buy any here in the States either. But that doesn’t keep me from going to Mexico and selling and then buying a bunch of dollars and coming back over here.

Matt 36:37
So or using a VPN?

David 36:39
Oh, yeah. True. Like, like, yeah, cuz cuz I mean, I’m back when it was sort of starting, didn’t you say something about the fact that you couldn’t buy it, you had to go through a VPN and buy it from a Russian website or something like that? Or somebody was saying that?

Joanie 36:57
And what’s a VPN?

Austin 36:58
virtual private network,

David 37:00
private network?

Jen 37:02
none of those things happened.

David 37:03
No? Somebody, I don’t know, somebody, I, maybe it was somebody

Austin 37:09
some other person.

David 37:11
Oh, okay. Yeah. And so so. But the fact is, then the government unless they do market manipulation, in the sense of buying a bunch of crypto or buying a bunch of Bitcoin or selling, if they have any stock, they can’t really regulate the value of crypto, right?

Joanie 37:37
Oh, that’s right.

Matt 37:39
I mean, policy impacts price, but I mean, they can’t stop it. I mean, there’s, there’s nodes in space now, like, the network is up, it’s not getting shut down.

David 37:53
So I mean, I find that kind of interesting, the fact that as much as the government wants to regulate it, in other words, they could say you can’t sell it or buy it here in the States. They can’t really..

Matt 38:07
well the problem you run into them is exiting. So you have to be able You know, it as long as you want to stay in use Bitcoin as the example as long as you want to stay in Bitcoin Bitcoin, the Bitcoin transaction, so not a problem. But if you want to take a Bitcoin to a Fiat solution, you know, like, you’d have to, then you have to have an exchange do that for you, and then getting that money from an exchange to you, you know, unless it’s a, you know, a decentralized exchange, getting it to you as a matter of having a bank that’s willing to work with that exchange. And so that’s definitely one way. For example, if the exchange that you’re working with is not compliant with know your customer rules, which in the US is something that exchanges here at governed by, in fact, I just got an email from one of the exchanges that I use, that is basically and there’s certain tokens are no longer going to be supported on their us platform, but on their international platform, they will be not going to go on and on, basically, I mean, this is the easy way out, I’m just going to sell those ones and move on, I’m not going to try to play the game of moving them from from there to you know, from my wallet back to the exchange would find another exchange just I’m not going to do that. You know, realistically, I’m just out.

Austin 39:20
So that’s how the US government can affect the prices? Exactly.

David 39:25
Yeah, yeah. And yeah, I understand that part. But it it just, yeah.

Austin 39:33
This this, I mean, even it’s still I mean, it’s all based on belief.

David 39:37
Yeah, exactly.

Austin 39:39
All money, all currency, all exchange of value, you know, even down to if you’re in a barter system, while I believe my toaster is worth a slice of bread, like it’s still, those exchanges of value come down to an agreement that you made. And currency just happens to be an agreement we all make together. Where, you know, when we drive by the gas station says to 79 what that means. And Matt, you mentioned fiat. Do you want to define that for a peep.

Matt 40:09
Currency backed by nothing that you can just make as much as you want to? For example, with what they tell you this? Yeah, so in crypto we call that a Shitcoin. But more practically, we call it the US dollar.

Austin 40:28
Every major currency in the world is fiat. And that’s a that’s a Latin word. For like: “so let it be written”. I think every car Oh, wait, that’s what I was gonna go. But it is yeah, it’s essentially it’s, it is what the powers that be. tell you it is worth. She’s looking it up the definition

Joanie 40:54
“A formal authorization or proposition a decree? So yeah, just an order.

Austin 40:58
by decree? It is because we say it is. Yeah, the Kings poop is worth a million dollars is the golden goose.

Matt 41:12
So I did want to sneak in real quick. Another example, to answer Austin’s questions like binance is a cryptocurrency exchange, it’s perhaps the biggest in the world right now, I think by volume, and it’s got a basically put out an email saying that they’re no longer servicing US citizens, because they do not want to comply with the regulations. So that’s, that’s can be a problem for some people.

Austin 41:38
Oh, my gosh, right. So back to the videos, yes. Which I didn’t mean for this whole thing to go global currency reset, I do think it’s, the videos can totally logically lead to that, like, oh, we’re heading in a bad direction. But the videos nine and 10 of the hidden secrets of money. They, they parallel the journey of Rome back in its fall, you know, and the different decisions that were made over the course of however many years, and kind of parallel what the United States has done, how it started as Republic, how his currency was gold back to that it was owned by the Treasury, not the Fed, you know, all these different things. And all the decisions that have been made over the years to essentially degrade the US currency, and therefore the US system. I’m curious if you guys had any insights for things that you feel like surprised you are You didn’t know?

Christina 42:37
Okay. Yes. So that was what? Well, it wasn’t my hook reference was, how weird it is how much the US copied Rome down to and I don’t think obviously, they were trying to pattern it after them. But I’m down to the way that they the stuff that they put on their coins used to be stuff like, Liberty year, I don’t know different, different things, symbols and like pictures of animals and stuff. And the us it was the same it had different things. And then in Rome, it they started putting Emperor’s on the coins. And here we started putting presidents on the coins. And to me, it was almost like kind of mirroring a subtle shift in the way we thought about money maybe even or like the energy behind it. And I just found that really interesting how ridiculously much the us the way that it’s mirrored that system that sucked and got destroyed.

Jen 43:42
Interesting that and we haven’t done this yet. But how they snipped the coins, like painting or

David 43:48
Oh but we have..

Christina 43:51
there’s an infographic timeline on Mike Maloney site that shows that rather than coin clipping with us did was change the size of goods sold. So like we shrunk, serving

Matt 44:07
Oh, but totally. I mean, if you look at a quarter, for example, the ridges on the side, but like those are those exists that you can tell if people are are clipping

Joanie 44:14
on we used to have silver dimes, and now they’re just silver coated. Right, right.

Jen 44:20
It’s what you hoard all your coins from before 19.

Austin 44:23
Sure, yeah. Well, I think the largest coin clipping exercise that was ever undertaken was known as quantitative easing. out I think, right. So when was that after? Was that after? Oh, wait. Yeah. Yeah, it was after la the collapse of the collapse that they didn’t call a collapse?

Christina 44:48
It was. Right.

Austin 44:50
If you guys, you probably haven’t. Most people have like the Great Depression. Right? There’s metrics that they use for employment rates, and, you know, the GDP and area that, do you realize, like multiple times since then, that we have hit those same metrics. They just changed the math. Right. Okay. So they don’t count certain things like the unemployment rate. If they used I care. It was during I want to say it was the first bit of Obama’s “reing” that they were doing the unemployment numbers, and oh, yeah, yeah. Well, he had, he had changed the math again, and so did bush and so to Clinton, and so too, but like, so it’s, it’s not just Obama, but it just remember very specifically, listening and listening to someone kind of go over, like if they use the same formula that was being used when Carter was president, that the employment unemployment rate was 2%. Worse than under Carter, Carter did not get reelected, because large because of the economy and employment, all that stuff. And it was like 13%, but they use the change the math, and were like 3%. Now, look, and it’s it’s so back and 08, if you look at the metrics on certain things, not everything. I mean, there’s so many different metrics, but very similar to the depression. And into get out of it. The Fed, which is privately owned, it has the Fed is nothing but it has nothing to do with being federal. The Fed started just printing. I can’t remember what the first denominations were. But essentially, it’s now unlimited quantitative easing. So it is literally it when you if you ever the phrase, q1, q2, q3, I think they ended at five. I can’t remember.

Matt 46:52
It was like 80 billion a month. Yeah, or something like that.

Austin 46:55
Like, yeah, and they were basically buying their own Treasury bonds, but they were their own notes. to basically prop up like, no, people are totally buying our debt, like, the world totally wants the US dollar. So we’re going to print a bunch of them. And then we’re going to switch over to this computer screen and buy the shit we just printed from our self. And then the world is going to believe that somebody bought it. And we’re going to do that at billions of dollars a month, for years. And we’re just going to keep doing that. And so if you understand anything about supply and demand and money and money specific supply, specifically, it’s debasing our dollar, if you look at some of the charts, on what $1 was worth back in the 40s, to what it’s worth now, it is literally three cents. It’s worth 3%. Of what it was worth, when your grandparents were, you know, we’re having kids,

Christina 47:59
did you just say a dollar’s is worth 3%. three cents. Yeah, compared

Austin 48:04
from the 40s. To now it’s worth 3% of what it used to be worth.

Christina 48:09
Wow. That’s a little different.

Austin 48:12
Yeah. And so we need to clip coins, right? digitally clip. Yeah. And I’ve interesting people think like, well, this is how it’s always been done. Now, like we the Federal Reserve wasn’t created to live it. They like the first third of the 20th century. We didn’t even have an income tax before that either. People say like, well, how, if we got rid the income tax, how would we exist? like we did before? The roads? I don’t know. Right? Yeah, the Federal Reserve took over 1913.

Matt 48:44
Yeah, over Christmas break. I believe that. Christmas,

Austin 48:49
on Christmas day, when there was only 12 people in Congress, maybe 17.

Matt 48:54
Well, they could have drove right back, right, because everybody had super fast cars back then. And great, right? Various about that. You conspiracy theorist.

Austin 49:10
People that the Federal Reserve is owned by private people, and they have looked, and they’ve called me conspiracy theorists, I’m like, I can’t deal with you,

Matt 49:17
the presidential, you know, President appoints the the head of the Fed, nevermind the fact that the Fed gives him the pool of people to choose from. You could use anybody you want, as long as they’re on this little list. One of these seven people, right? Anybody you want anybody in the whole world on this list?

David 49:43
So So why, why are people saying that our economy is doing great right now? Or Wall Street or whatever?

Austin 49:53
Because we’re delaying the pain?

Unknown Speaker 49:55
Cuz that’s the belief…

Austin 49:57
And they’re changing the math?

David 49:59
How?

Austin 50:02
Oh, boy, that’s a more complicated question that I’m prepared or than I’m equipped to answer. But I do know that the every president comes in, essentially finds the things that they know they can affect, then they go, Okay, I’m going to do this over here. And so then let’s just make sure the math kind of emphasizes this.

Matt 50:27
And that’s one of the things that Mike kind of dug into, too, is that there’s no incentive for presidents on a four year time span, to just go for the hard fix. Because when they do, they don’t get reelected for the second term.

Joanie 50:39
That was one of the things that I noticed as well, that I was going to bring up. I mean, obviously, I know why we have term limits. But that is a downside to it is that presidents are spending their entire presidency just trying to affect their small things and then try and get reelected. You know, is there a benefit to having a longer terms

Jen 51:02
are just one term? So they do the 4 year job.

Joanie 51:07
Right.

Austin 51:09
Well, that’s, you know, the President’s on that hook for terms, whereas Congress just keeps going.

David 51:14
Yeah, yes, true.

Joanie 51:17
downsides of that

Matt 51:18
model of things that we should aspire that builder.

Austin 51:22
Yeah, I mean, most of the Democratic current candidates are professional politicians, they’ve never actually run a company. They’ve never actually hired anybody or fired anybody. It what they do is shake hands and kiss babies for a living

Matt 51:41
congressional approvals around like 11%, but everybody keeps reelecting their guy cuz that’s the other guy. That’s the bad one.

Christina 51:46
Right.

Austin 51:47
Right. That’s ridiculous. You know, by and large, I think we talked about on a previous episode, that if I don’t know who to vote for, like, definitively, I just go for the new guy.

Christina 52:00
Like the least political person?

Austin 52:02
Yeah, the least. The problem is, is that it’s such a swamp that if you have if you, if you’re the new guy, and you don’t buy into that system, you’re going to get eaten alive anyway, at this point.

David 52:13
It’s kind of crazy. I was listening to a podcast last night. And the guy said that he he’s been around politics for a while. And he says that he has not seen a single politician that has maintained his

Austin 52:35
morals, morals,

David 52:37
basically. Values values the whole since since he became elected, and the longer the longer they’ve been in politics. He has not seen a single politician on either side that has maintained his morals.

Austin 52:55
Well, except for my guy. Right?

Joanie 52:59
Just to get into anything done, you have to play the game. Exactly. I think people go in with good intentions. And then they realize, Oh, this is all. And if I want to do anything, if I want to keep any of my promises, I have to play the game. So that’s, that’s how it goes.

David 53:16
And then we have the whole revolving door, which I put a name to it. Finally, with this video, the revolving door, what is it in politics, and lobbyists, lobbyist, where they go in and they just, you know, when they go in and make decisions, or vote or propose whatever, and then when they come out, they come out to some very cushy job and make a crap ton of money, and we’re good to go.

Austin 53:48
Have you seen that meme? Or if it’s a mean, whatever, but like, Trump, one of the first people to go in as a billionaire, right, and they want to they want to check his taxes, taxes. And then like, most of the politicians go in relatively poor and then come out as billionaires! So we’re not going to check their taxes like

David 54:14
this a good point. Um, can you explain to me, actually, uh, about the Fed not being audited? Or did you say something about that?

Matt 54:26
Well, Congress has to approve it, and Congress doesn’t ever get enough gusto to get it done.

David 54:32
Has it been tried? Have people tried to do that?

Matt 54:36
Well, I know, Rand Paul, for sure us by the most recent one to champion and maybe his dad way before that. But did he filibuster that? He did have a good filibuster? Like, that’s probably on that? Thought it was on the Audit the Fed, wasn’t it? Yeah, it can be wrong.

David 54:52
See, it’s amazing. Because none of this stuff like makes it to mainstream at all, nobody knows.

Christina 54:58
Well, honestly, this by and large, tends to be kind of dry and boring. And over people’s heads, largely. And so you have to really care and want to understand it in order to bother. I feel like that’s

David 55:16
what just think about it like you could be having a bunch of the kings crap in your bank account. You, which is funny that you said Obama’s reign. Was that on purpose? So I mean, if you think about it, yeah, I’m sure if people understood that tomorrow, they might wake up. And they might say, Oh, crap, look at all the crap. And then

Christina 55:51
it goes back to the belief people don’t really believe that it’s a problem. So

Austin 55:57
bread and circus,

Christina 55:58
right, exactly. being entertained. That’s, the majority of people want to be entertained.

Austin 56:07
Well, we’re coming up in about an hour right now, i’ll say its time, go around the circle, and get your your closers in here. Our time we wrap this thing up, out there.

Jen 56:21
I would say that, well, some of the things that we talked about today might be boring and slow for some, check out those resources from Mike Maloney because they aren’t and they’re very informative, coming from someone who’s got a very low level of interest and knowledge base on this topic. It’s, it’s good to be informed and plan your life accordingly. And know that there is a little bit of circus and entertained and it’s his videos, talk about it through our our drug prescriptions, ads constantly, and the social media zoning out that more often than not a lot of Americans are doing. And so be mindful of those things. And how can you make the little changes throughout your day to make a bigger difference and impact in your world.

Austin 57:19
I would add Thank you for letting me do tons of talking on this one. But you know, global currency reset all this stuff, you Google it, you’ll find it is largely conspiracy theory you would it ends up with the end of having to do is you do have to end up educating yourself a bit. And then just start thinking about the fact that the world is not asleep to this politicians are not asleep to this and got major companies and businesses are not asleep to this. Banks are not asleep to this. This isn’t. So there’s got to be there is something going on, there’s something under behind the scenes. And to me of all the videos that Mike has, number four is the one that you should definitely not miss. And it describes the essentially the current system and the fact that it is a complete and utter scam that is robbing you and us of the number one because wealth is not money. Right? wealth is your time and your freedom. And that is the thing that the government cannot create. It can only take it, they can only consume it. And so if you’re going to watch one video on money and try to wake yourself up a little bit, episode number four is the one I highly recommend.

Joanie 58:41
Well, I’m was kind of with Jen, this isn’t a topic that I delve into a whole lot. So I was thankful for the opportunity to watch these and educate myself and learned a ton a couple of things that they touched on in the video that we didn’t get to touch on the whole bread and circus thing. We talked about the circus and the entertainment. But the other one, the government providing food for the people. One of the things he talked about was that at the fall of Rome, 20% of their population was receiving essentially government assistance was receiving wheat and bread from the government. And I looked up some statistics and right now we’re at 20%. Actually 49% of all households receive government assistance in the course of a year, whether that be education, food, you know, all different things. So half of our country is receiving some sort of government assistance 20% on average, every month are receiving. So it’s just something to open your mind up to, we’re on par with where Rome was at before the fall of Rome. So educate yourself, this affects the globe, but if next you and affects your life,

Christina 59:53
and that whole thing immediately took my mind to one of the platforms, one of the things being discussed on the coming election, which is universal basic income, which would essentially put everyone 100% or essentially 100% of the United States on government assistance, in a sense. So I was like a, I don’t know what to think about that. And there are just a couple things that I wanted to highlight. And one of those was brought up in the video. In some, in some fashion, what role should the government really play. And a quote from Steve Forbes was that basically, the government should be creating an environment where people can go out and do creative things. Because when people are free to create, it betters everyone, it raises the standard of living a free market raise the standard of living, and Milton Friedman said the government should be a referee, not an active player. And the whole thing with UBI universal basic income. It’s a short term, it feels like a short term win for a lot of people because it frees people up in a lot of ways to be more creative and stuff like that. And we had an episode where we talked about this. We’ll reference that in the show notes. But it it makes the government a more active player, I guess. So. It feels like a difficult or like a quandary, I guess I don’t know. And there was one other thing. Shoot, where did my Where did it go and my notes? Oh, this was in a different video, actually. But I is an anecdote that I found really interesting. The concept of exponential growth and how little people understand exponential growth, but that we are in a time of exponential growth. And things always speed up at the end of or not the end, but as it goes along. And so while we feel things speeding up. Just this is a side note that I really found interesting. We did an episode. I don’t know how long ago it was, but on automation, taking away jobs. And just an observation of how quickly things are speeding up at that time that we did that I hadn’t seen any kiosks in fast food places for you can just order and totally skip. Totally skip working with people essentially, or you don’t order from the cashier, you order from kiosk. And now they’re all over the place, at least I’ve been seeing them all over the place. And that’s in that short period of time, the exponential growth and so the way this ties in, in my mind at least is how quickly things change. And talking about the overnight reset. And this is a I mean, wake up. I don’t know how fast this is gonna go. But it’s kind of freaky a little bit. It’s exciting in a way to me, but also kind of like, oh, things can change fast. So

David 1:03:36
I’m good.

Austin 1:03:41
Do you have one other thing with it? We’re working on a common sense preparedness concept. And there is a reality of this you know, whether it’s a currency change or natural disaster, like you might want to just not bank on your normal everyday life experience happening every day. Like you could wake up tomorrow to something vastly different. And so there is a measure of like making sure you’re a little bit prepared and we’ll probably do an episode on that at some point. But this just as make me think that’s the the currency crash the global currency crash is why we moved to Traverse City. It wasn’t terrorists. It wasn’t it wasn’t it wasn’t a you know epidemic right? It was literally with my background, I saw the writing on the wall with what was going on with currency there was nobody that could guess they’re going to quantitative ease for freaking ever. And that the whole world was going to agree to it. But at the time when quantitative easing, when quantitative easing started it was like oh, we need to get out of dodge this is not going to go good. And had the system not been manipulated, it wouldn’t have gone good. So be prepared.

Matt 1:05:04
And I’ll take this back to the videos that we watched Rome when it split there was the Roman side of the of the Roman Empire and then there was so the west and the east which was the capital of Constantinople all snow which came known as the Byzantine Empire and the Byzantine Empire actually maintained power for another thousand years. They followed sound money principles for as long as they couldn’t tell once again they also fell prey to the same thing that that western side of Rome did. So I found it interesting a couple of other ladies were saying you know this is this was a good entry way into maybe not the most exciting topic I know I bombarded Jen with all sorts of money documentaries back around 07 or 08 or 09

Jen 1:05:54
like all oh’s

Matt 1:05:56
All of them and very conspiratorial territory, some are straight up anti semitic some are, some are just really interesting. And you know, I think Mike’s falls into that category. It’s entertaining, he does a good job with it. And if you can really well done they are they’re visually stimulating and well like I there was one it was like a four hour documentary It was literally a guy talking in one spot, now he’s talking in another spot, and now he’s talking in another spot. It was literally that for 4 hours this because I’d make

Christina 1:06:29
how could you? mind numbing…

Matt 1:06:32
Old Bill Still. So if you can learn the difference between you know, money that’s being inflated, and then money that’s inherently deflationary. You know, Bitcoin for example, many would call it deflationary as about every four years or so is the amount that’s being brought into circulation is cut in half. And this is this is due, you know, to aid adoption of it. So it’s not all 21 million Bitcoin that will eventually be aren’t just in existence from the beginning. People often get really excited or you know, catch the headlines of Bitcoin, skyrocketing or crashing. But here’s the here’s the reality of it. Bitcoin is consistently profitable to hold on a six month timeline, on a one year timeline, and a 2,3,4 all up you know, almost 10 years this point it’s a good hold. So holding onto deflationary assets, whether they’re a cryptocurrency, whether they’re maybe just sound, you know, assets like silver and gold, you know, Silver’s kind of manipulated, so, but that manipulation has come to a crunch right now. Gold is kind of the the big player, but again, there’s a lot of paper gold out there. So there’s, there’s so many areas that this can benefit you in, it’s worth the time invested to learn and set your family up for, you know, whether things continue to, you know, go on forever as they are. Or if they don’t you wake up one morning, everything is different. This is something that you want to know about, regardless.

So that’s why

Austin 1:08:10
Unless money is not important to you .

Matt 1:08:13
which I think is it’s so funny that people so many people build their lives around making Mo Money, Mo Money, but they don’t know what it is!!

Jen 1:08:21
right? And they sacrifice their time and freedom.

Matt 1:08:24
Absolutely. So that’s why we made this a conversation worth having. We primed it for you. Go ahead and check out these videos on our site. And I don’t think you’ll regret it for a second. You can check us out on Patreon on the social medias patrons got some cool little extras if you’re interested in supporting the show. And feel free to drop us a line throw a question at us. We’re all ears. Thanks for joining us and less I’ve met anything. We up out of here.

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