Hey, welcome back to the show! We are Better Buy Bitcoin and myself, I'm Bondor. This is
Anton. We wanted to get into talking about the markets and what's going on today with all of the
the VIX spike up to 50 or 60-ish last night, and tariffs and how Bitcoin plays into that, and yeah,
there's a whole bunch of stuff going on. People are losing their minds and then
apparently everyone is just folding overseas. So yeah, it's a pretty good time.
Yeah, the market, the S&P, for the U.S. was barely down today, but over the last two days
it was down something like 9%, I think. Pretty big drop, but other countries are down way more.
Yeah, futures are presently at, looks like we're going to get,
the futures closed at 5,100, so 5,100, which is down considerably from the peak.
You know a lot about the VIX. Can you take a second to explain what it is and why it matters?
So the VIX is basically, it's a measure of volatility, VIX, V-I-X, volatility index,
if you will. But what it measures is it measures the open interest on
options, and I'm going to butcher this. I haven't been around trading for a while now, but it,
basically, somebody opens a contract that says, hey, I want to hedge my downside on that S&P,
and they say, I want to do it at this level and all this, like this level for this amount,
et cetera, et cetera. Here's the contract, and the VIX kind of measures how many of those
contracts are out there in some, it's way more complicated than this, but that's the idea.
And from that, you can see, oh, well, hey, there's a ton of puts or a ton of calls,
and that kind of gets you an indication of implied volatility, gets you an indication of
where people are thinking the market's going to go. And from there, you can kind of draw
conclusions or draw inferences about what's happening in the market and how much
uncertainty and FUD there is. So today, the VIX trading at 60 puts it at,
not on VIX anymore,
puts it at, like, almost even with the market crash that happened in August of last year.
And to put some more perspective on that, the COVID crash, the VIX went to 85. The average,
like the universal average for the VIX is about 17. So if you're below that, you're considering
an ultra-low volatility paradigm. There's a big, huge thing in 2018 called the Volmageddon.
That's like when I was actually trading options, and the VIX was traded at the lowest it's ever
traded ever, which is at eight. So you kind of get a perspective. The highest it's ever been
for this measurement, it also depends on how you measure it, but for what I'm looking at right now,
the highest it's ever been was, let's see, that is October 2008 at 96. So we are, and but it's not,
it's not like a linear measure. It's not like this goes up and down like a stock. It is a complete,
it is its own class of measurement, if you will. So to put it in perspective, we are looking at
today, there've been, what happened today over the last 24 hours, there've only been three other
events in the last 30 years that have had this much volatility. So this is a big event, for sure.
No doubt about it. Now, why, Anton, why is there such a big market event today? What happened?
Well, Trump happened, I guess. People are getting what they voted for, generally. And I can't even,
my opinion of tariffs, which is what caused all this, is that they're generally not great. We
rely on trading in an even way with various countries that produce things that we need.
And just personally, I'm kind of against all taxes and tariff is like a tax on a nation
for importing goods. And so we essentially are charging these countries a lot more money to sell
their stuff inside of our country. And it just caused the market to freak out. And the question
is, is it a temporary freak out? Or is it something more permanent? Is this going to cause
a fundamental change for the next few years and how trade happens across the globe? And
what do you think? Do you think that it's a more permanent shift? Or do you think this is just a
temporary thing? So I think it's totally temporary. And I think I posted about it in the
chat we have last night. But it's basically like, bro, every country, like almost every country on
Earth has some deep reliance on America, be it security, like economy, just something,
manufacturing, like consumption goods, America's buying all our stuff. We have family in America,
like it just goes on and on. The world economy is entirely connected. The fact that tariffs exist at
all, to your point, is ridiculous. And so I think it's just a temporary thing. And I think it's
your point is ridiculous. It's the stupidest thing ever. Now, when you bet against America,
you're going to have a bad time. And everybody knows that, right? So everybody who has a tariff
in place already is basically just like, well, we bet against America. And nobody in American
politics, because they're all cowards, have done anything about it for decades. And the thing you
do about it is you just have a reciprocal tariff. Like, okay, cool, you're going to charge 50% for
our goods, in addition to what they cost. We're going to charge 50% for your goods,
in addition to what they cost. And consequently, nobody wins. And so they just, it's just like,
just collapse the tariffs. Let's do away with this absurdity, right? That's Trump's plan,
as I understand it. I'm not an expert on Trump. You know, it is what it is, right?
Yeah.
So the plan is, cool, we are going to implement reciprocal tariffs, or close to them, and then
get people on board with removing all your tariffs. Hey, if you get rid of your tariffs,
we'll get rid of our tariffs. Now, I don't know. Who knows what's going on in Trump's mind, right?
Like, not a soul. But if he even knows, that'd be a miracle if he knew. But what the idea is,
it's a strategic move. We'll get everybody to either, one, remove their tariffs from us,
or two, we'll just be onshoring all of that industry back into America, because it's going
to be cheaper. So that's kind of the broad picture of it. Now, what happens next is, well,
oh, crap, we can't live without America. We can't do the thing, whatever. And so, you see that,
and I don't know, I just heard the news on it. It's just like the total capitulation from some
countries. Like, whatever, we'll enter the negotiations right away. Like, this is,
we can't afford to do this, whatever. It's going to shut down industries that we rely on, etc.
And then other countries, like China, we're going to, like, increase the tariffs, because, hey,
we can't stand for this. And then Trump comes back, because Trump is,
Looney Tunes, just comes back stronger. It's like, okay, well, what are we going to do about that?
So we'll see, man. It's interesting times. It is interesting times. It's funny, because
you get people that are so, they're so opinionated, and their hatred of, you know, if it's like a
Republican in office, and they're more of a Democrat persuasion, they have such a hatred
that a Republican's in office, but they don't actually do any research on the thing they're
talking about. They just, they're just, they're just blind, white hot hatred. And I don't think
a lot of people realize that other countries had tariffs against us already, and tariffs for
other countries. Like, they just charged a lot to import anything into their countries. People also
don't know the tax policy of other countries. And I was guilty of this as a younger person. I think
that I used to think that other countries didn't pay taxes, like the people weren't charged taxes.
I didn't know about things like in the UK or in Europe that you pay a value added tax.
You literally pay a 20% sales tax on every single thing you buy. So if you're in England, and you
buy a MacBook Pro, you're paying 20% extra on top of the cost of the MacBook Pro. Plus, there's
there's probably an import cost. It's so everything is more expensive to them than it is to us.
It's like this idea. It's like a, it's like an idea of, like, the only thing I compare it to is
like the noble savage or something. We think that all these other countries are more noble savage
We think that all these other countries are more noble than we are. In reality,
doesn't matter what country you're from, you're roughly paying the same amount of income tax and
sales tax. It all kind of like factors out the same. I've heard people from the third world that
I used to work with. I say the third world, they're basically from like South America.
They were like, and they're all they're all liberal. They would say, I was basically saying
that I didn't like that we had to pay taxes. I was young, I was just getting charged income tax
the first time. And they're like, the difference between where you live here in America and where
I come from is that we both pay taxes, but your taxes go towards something. That was their
perspective on it. Because in those other countries, you still get charged the tax,
but the country doesn't just doesn't function well at all. My argument would be for why America
functions at all. And I used to be on the more much more liberal side, I used to think that
America didn't have a culture. America absolutely has a culture, America has a really good culture,
the lineage that our culture comes from is very honorable, it has values. And it's that hard
working American with a good moral backbone that makes the country function well. And other
countries that have somewhat of that same moral background backbone also function well. But
every single one of them levies very, very unfair taxes against their own citizens and
against other countries. And it makes everything function in a worse way than it should function
and tariffs are no different. That's just that's my opinion. What do you think?
Yep, 100%. I mean, yeah, it's ridiculous. The the way that other nations treat America is,
is insane. And we just like, let it happen. We're just like, okay, like the bleeding heart liberal
syndrome again, but like at an international stage, like, oh, of course, of course, we'll
send you all of all the unbelievable billions of dollars of USAID and like, oh, of course,
we'll let you just like literally tax all of American industry out of existence, because we
can't like export, but you guys can just import our like, just it's just bonkers. Like, you guys
can send your imports to us that we pay for, and they're cheaper, and we'll do it or whatever. And
it's just, no, it's not a free market. It's not like equitable. It's not. It's like all of these
things, you go down, like all of the liberal talking points, it's like all of them are just
violated. Okay, whatever. Yeah. Yeah. Yeah. So I like to think about what should happen versus
what will happen. And so a lot of a lot of people are stuck in this loop right now. And people that
I really, really respect, respect, including Bitcoiners, I hear them talking, just kind of
like the people that voted for Trump, and they're like, I don't like anything he's doing. I'm not a
fan of this. My portfolio is way down. The Bitcoin price is way down. And I get that I get the
criticism of it. And I have my own opinions on what I believe should happen. But what I believe
should happen and what is going to happen aren't necessarily the same thing. So jumping forward a
little bit, what do you think is going to happen right now? The market, the markets are absolutely
wrecked. Even the everything's down, the gold price is down, the S&P is down, the price of
Bitcoin is down. Like, I don't know what it is that right now, but it's down 30% from the all
time high. What do you think are some of the things that happen next? I think more countries
capitulate. And I think that that's just imagine you're imagine you're a world leader, right?
Dealing with Trump, who whether or not you agree with him, it's like, it's the maximum crazy beats
strong every time, right? He's a crazy person. You can't, you can't negotiate, you can't fight,
like, what is he going to do? He's like, literally posting videos online of them drone striking
people in Yemen. It's like, this is literally a madman. So what are you going to do? It's like,
well, you can go to war with a madman, crazy beats strong. And also, he's probably the strongest,
because he's got the American military. So what are you going to do, you're going to remove your
tariffs, and you're going to have to battle him on the economic front. So like, okay, that's what
that's what I think is going to happen. I think more of that's going to happen. The people who
come to the negotiation table first, and like, okay, yeah, we can, we can get rid of some of
these tariffs and blah, blah, blah, they're going to be treated extremely favorably. And then
the next person in line will say, Oh, well, maybe I'll get a good deal. And so then they'll get
they'll come in and, you know, and then I'll just kind of, hopefully, most of the tariffs go away,
not all the tariffs are going to go away. It's going to be a matter of who can who can somebody
and who can't. Most of the countries out there are led by a bunch of cowards. So they won't be
able to stomach it at all. China will be able to stomach more, but yeah, who knows?
In the US, we have the global reserve currency, we have an incredibly high GDP,
we joke and say that America doesn't make a whole lot, but we still do manufacture things.
We have a lot of raw materials that we ship out. We're incredibly powerful in the world. And
so many of the people of like the leftist persuasion who have Trump derangement syndrome,
they are seeing events through their hatred. And they're not really, they're not understanding
that in the rest of the world, people don't have an American perspective. They're not seeing things
the way that we do and world leaders want to negotiate. They're not the world leaders are
not filled with just a blind hatred the way that they are because they realize that there is
serious damage that can be done to their countries to their people to their own reputations if they
don't play ball. And nobody wants the world to get I mean, I guess there are people that want
the world to get poorer. But in general, people want their countries to do better. They want their
own portfolio to do better. And world leaders are no different. And they're going we're not at war.
And so they are going to negotiate the best they can. And, you know, sometimes I'm like,
is Trump playing for DHS? Is he brilliant? Or is he an idiot savant? I don't know the answer. But
does it even matter? If the deal still works out? Does it even matter? And it's very, very likely
that he is going to get a deal worked out. It's not just him. There are a lot of other other people
who are also negotiating these things. There's there's video of him talking about the tariffs
in the 80s, that this is something that he would do. So it's not a new idea to him. But I also
don't think that he came up with this. He has a whole horde of economists who talked him into
doing this. And he just signed off on it. It's not just his idea. And it's a very old idea.
So yeah, that's all. Yep. And then so there's also like the knock on effects, right? What's
going to happen is that like, tariffs don't uniformly apply, they only apply to particular
goods in particular industries, right? In particular ways. And it's very weird, right?
Um, but going forward, you look at the totality of the supply chain, and the totality of the
supply chain says that you're going to have Apple's supply chain 10,000 inputs or something
absurd, right? Like, let's say that 10% of those inputs now have variable 30% to 50%
increases on their cost. That's a big cost. And that affects all Apple end product pricing,
right? So, okay. What does that mean? Well, it's going to trickle down to the rest of the economy
like a inflation event. However, it's not monetarily based, it'll feel like an inflation
event. But it won't be an inflation event. So there's that feeling of it. But the feeling of it
is enough to push Powell over the edge to lower rates and to lower them faster,
because the economy is going to start to slow and it's going to start to accelerate in that
direction, right? So then once the rates are lower, then the quantitative infinity starts again,
and the whole absurdity of money printing just goes on. And that's when the real inflation starts
to pick up because money is free again. Hey, it doesn't matter. Again, that's going to be a bit on
Bitcoin. Bitcoin is not necessarily a hedge against tariffs, but it's definitely a hedge
against the consequences of tariffs, which are money printing and hey, we're just going to make
more money and everyone's going to be happy again. It's ridiculous. You brought up inflation. Have
you ever read Currency Wars by Jim Rickards? I have not, no. So it's just a book on essentially
why some currencies inflate. So without saying everything happens in the book, I'll just say
I spend a ton of time looking at various currencies. I'm looking at the euro, I'm looking
at the pound, I'm looking at the yuan, I'm looking at... I have a child here that has jumped in.
Can you go inside for a minute? What can you do? Hold on one second. Yeah, yeah, yeah. I'm going
to amuse myself. Yeah, one of the things that I remember about the Currency War book was that it
had a... one of the theses was that it's kind of a race to the bottom. Whoever has the worst
currency kind of wins because they're able to print the most and it devalues less. It's a very
convoluted kind of thing. It's like getting into the weeds on absurdities of fiat money and how the
game three plays out, but if you have a better take on it. Well, yeah, so
we could, we, the United States, we could make our currency not inflate at all. You don't print
money. Your currency doesn't inflate. People could save their money. They would have a ton of
value. They'd be able to do the things they want and it's like, why wouldn't you do that? Well,
there's two reasons why you don't do that. One, if you have a little bit of inflation,
it makes debt easier to service. Essentially, you take on a big amount of debt. You spread
those payments out over a number of years. A little bit later on down the road, that number
doesn't have as much value and so it's easier to pay off. Like when I went to college,
my four-year degree at a private college was a hundred thousand dollars. That exact same degree
now costs $350,000. Same degree. It's one year. Yeah. I financed that degree over a 15-year
period to pay it off and during that, the $600 payment that I had got easier and easier and
easier to pay because $600 became less of a amount of money essentially. Okay, so that's one reason
why the Federal Reserve wants 2% inflation. The other reason is that all of these other countries
are also printing money. Their money is getting devalued. Their money is getting devalued even
faster than ours. If our currency was too strong, when they want to buy products from us, those
products become crazy unaffordable to them. If they want to come over to the US and do tourism
and our currency is really, really strong, they can't go to Disneyland. They can't go to Las Vegas.
They can't buy a plane ticket to come here. It's just too expensive. We're experiencing that right
now. You have a ton of Westerners who are moving to Japan right now and everybody's like, yeah,
Japan's just so cool and they have this subconscious notion that food is really
cheap here. Hotels are really cheap and the products are really cheap. Not understanding
that the Japanese currency has just inflated at a faster rate than our currency. It's cheap for us,
but for a Japanese person to come to the US, it's really expensive. With currency wars,
these nations purposely devalue their currencies to make the products that they manufacture
be the right amount for those other countries to be able to afford to buy them so that it's keeping
the momentum of commerce going. There's multiple reasons why our currencies are inflated.
They're printing money to pay for wars and to make themselves powerful. They're printing money
to put money in the military industrial complex as a way of money laundering for the super powerful
rich elites that profit off of those things. They're inflating the currency so that asset
prices go up because of the quintillion effect so that the people who hold the assets see the
value of their net worth go up faster than the inflation happens, etc. Basically,
all countries are inflating their money at all times and are going to keep doing that because
the incentives for inflating the currencies are just very high incentives. The people, the plebs
suffer because of that, but they can't make the people suffer too much because if they push it
too far, then they get hyperinflation. Whatever their regime is will get deposed when that happens
and it causes too much chaos. There's always this balance of how do we keep
just enough inflation so that people don't really notice it. That's currency wars.
Since the global financial crisis, the US was in a situation where they could not get inflation
to pick up. They were, in a way, losing the currency wars. They were also the
world reserve currency, which has all sorts of other effects because you just essentially export
all your inflation because you don't have to suffer the consequences of it when people in
Cambodia who don't really have access to dollars and are way further down the food chain are like,
well, okay, cool. We'll just print as much money as we literally can, which is not hard to do. You
can just print more and we'll distribute it locally. As we're finding out, just distribute
it internationally too. Why not? America is closer to the money printer, so they benefit first.
Then all the other countries suffer from the inflation, which is where you get the
overseas prices being super low. When I lived in Korea, same thing. I've told this story a
hundred times. I love it. We would go out on a Friday night and we would take a taxi cab there.
We would eat dinner, drinks, go to karaoke, go back to get some more drinks, go get some more
food, go to another karaoke spot. We're talking about eight hours of just night on the town with
a group of 20 people or something. At the end of the night, we'd all pay whatever.
But at the end of the night, we'd go through the list of, oh, yeah, I paid for this one and that
one. It's like, wait a second, we only spent like 25 bucks. It's mind-boggling. You try to go out
and eat at one restaurant in LA and it's a hundred dollars. It's interesting because Korea, clearly,
no country has a perfect culture. I'm sure that there are things that Korea has culturally that
if I knew exactly what they were, I'd be like, that's not as good as what we have in America.
There are some things in America that I can say that we do that are not great.
Korea is a culture that functions very, very well. Even though their inflation historically has been
more extreme than our inflation has been, society in South Korea functions pretty well.
You brought up places like, I don't know, you might say Cambodia, but I was thinking
like Cameroon and different countries in Africa. The countries that are way further down,
you have the US dollars, the global reserve currency, then you have the British pound,
the euro. It used to be, maybe you could say the BRICS countries or something.
Those countries all kind of trail our inflation. Their inflation runs a little higher than ours
on average, but you have these other countries where it runs way higher. In our country,
in the United States, inflation causes a greater and greater separation of the rich and the poor
because if you have assets, your assets become more valuable faster than the money devalues.
But when you have a low rate of inflation, it's not that noticeable. When you have a really high
rate of inflation, it's really, really noticeable so that the people who own the assets, the value
of it just goes astronomical. The people who are on the lower end, they go to buy lunch
and they pay one amount. They go to buy dinner and there's already been inflation.
They literally cannot save a penny. They just have to work and spend that money immediately.
You have countries, I'm just going to use the whole continent of Africa. This is true almost
in every single continent. The people who own the assets are essentially warlords or mob bosses.
They have to fight for their survival with violence to hold on to the power that they have.
And they're so wealthy that they essentially have slaves because they have so much money,
they can just completely control everything around them. But in order to hold on to that power,
they have to hold on to it in this insanely brutal way.
So that actually, for me, that's one of the reasons that America doesn't have or really
can export inflation and really doesn't have the same problems of inflation. And you hear this when
foreigners come and study here or live here or whatever. They're like,
yo, the reason everyone invests in America is because you guys have rule of law. It's not rule
of drug lord. It's rule of law. And the consequences of there is that you can have
peaceful and reputable property rights and value transfer and all the rest of it.
And that puts a huge bid on assets because especially assets that require a state to
protect them like real estate. Whereas in Africa, bro, it's just whoever has the biggest
amount of guns. Not all of Africa, but many countries.
I gotta tell a quick story. So by trade, I'm a cinematographer. And back in the day,
I worked on a lot of what were essentially reality shows. And there was a show that I did.
It was actually about the Obama at the time. It was about his limousine. It was called Presidential
Beast. You probably still find it. It was a National Geographic show. And so we did all this
research on the show about how much this armored limo could take. Could it take a 50 millimeter
round? If somebody tried to blow it up, could it handle that? So we went to this place. It was in
San Antonio called Texas Armoring Corporation. They had this viral video where the CEO of the
company is like, I'm the CEO of Texas Armoring Corporation. I'm going to show what it means to
stand behind my product. And he gets behind the glass. And one of his employees shoots an AK-47
at the bulletproof glass that they make. And in front of his face, and he gets out and he's like,
life is valuable, protect it. And that company, Texas Armoring Corporation, is a super interesting
story because they went bankrupt in a pretty spectacular way. And the story behind that's
worth looking up. But in the context of the story that I'm telling, they had a giant warehouse.
And in one warehouse, they were making these cars. So they would have Mercedes G wagons,
they would have Escalade, they would have Aston Martins, and they would strip the car down to the
frame. And then they would put bulletproof glass and steel plating behind the car. And these cars
were paid for up front by dictators around the world. And there's a lot of them. Dictators,
warlords, cartel bosses. And so you'd have whoever the dictator in Nicaragua was,
would be like, I want to have five armored Escalades. And so he'd pay for them, and they
would make them. But these people, and I'm not just talking about dictators, I'm also talking
about like people that own, you know, gold mines and lithium mines in Africa and stuff like that.
They would get deposed so quickly, that oftentimes, they would order armored vehicles,
and they would get deposed before they could take delivery of them. And so they had one warehouse
where they were making the cars. And then they took us over to this other warehouse, and they
like rolled up the door. And inside of this warehouse, it looked like a James Bond movie.
It was giant lifted Escalades, Aston Martins, G wagons that were all fully made. They had
electrified door handles. They had a thing where it would drop like a transmission fluid
onto the exhaust pipe and create a huge smoke cloud as a smoke screen. They would drop metal
tacks out of the back of them. They even had turrets that could pop up so you could have a
machine gun on top of the car. And they just had all these cars that were sold that they had nobody
to give them to because the guy had already been deposed. And they already collected all the money.
They already collected all the money, and yet they still somehow went bankrupt. So you'd have
to read the article on the Texas Armory Corporation is really fascinating. But yeah,
that's all just to say that it's really dangerous out there to be a dictator or a crime boss in a
third world country. But that kind of touches on getting back to tariffs and stuff. It touches on
this idea of like high time preference, too, because like that industry, all of those people,
every single thing about that is like, we exist by violence, like we live by the sword,
die by the sword. If we don't get these trucks ASAP, we're dead. And like literally they're
dead because they didn't get the truck, right? I mean, in some cases, maybe, I don't know.
Yeah. No, for sure. I mean, I've watched videos.
But the reason I'm going with this is like the time preference thing is interesting because
that's where you get a lot of the pushback on the tariffs. Like the low time preference would say,
we're going to wait it out. We're going to be courageous about this. We're not going to back
down. We're going to have a backbone about the way we've been treated and stand up for ourselves,
right? That's going to be our low time preference posture. The high time preference posture is like
panic. It's time to panic. Like the markets are crashing. Everything is like this is the end of
the world. All the people, all the manufacturing is never going to come back. We're never going
to see it ever again, right? It's just, no, that's ultra high time preference. It completely fails to
understand the game theory. It fails to understand the technology and fail to understand
supply chains, like the whole thing. No, you have to give it time. Maybe it's going to be a big mess
failure. I don't know. We're definitely at maximum uncertainty right now. But you can't bet against
American culture of entrepreneurism and self-made and we're figured out problem solving individualism,
rugged individualism, like probably betting against that is just, it's going to, it's not
going to work out most of the time. So what are you going to take? You're going to take the low
time preference or are you going to take the high time preference view on the tariff situation?
Like, what are you going to do? I can't say, you know, I would love to say that the market
just always goes up over the longterm. A giant dip like this is just an incredible opportunity.
Go out and get a job. Sink all the money into the market. A year from now, you're going to look like
a genius. I can't say that because I can't predict the future and I don't know how far things will go
down. You know, could the market continue to dip for another year and drop 50%? I don't know.
Anything's possible. I tend to think it probably is a pretty good opportunity. If you have money
in cash to put it into really good stocks, if you see a stock that's dipped, but I'm not going to
give anybody advice for that. When it comes to Bitcoin, I tend to believe that Bitcoin is going
to a million. And as we see Bitcoin going down, it's an insane opportunity. My own particular
strategy is to dollar cost average. And if you think that Bitcoin is one of the most scarce
assets to ever exist, and you see the price going down and your strategy is to dollar cost average
and your time preference is years, you're just getting more Bitcoin as time goes by, if the
price is going down and people just don't understand how valuable Bitcoin is. Now, as far as what
will, what should happen and will happen, like I said before, what will happen is that the Federal
Reserve is going to do quantitative easing. The markets are going, have tanked. They are, and
even if the markets didn't tank, they're going to do this at some point. They're going to print
money. When money is printed, it goes into the market and goes up by a multiple. And we have
enough history of Bitcoin to know that when money is printed, it goes harder into Bitcoin because
there are enough people out there who know, who really know how scarce of an asset Bitcoin is.
And it is going to go up like crazy when they turn the money printer on. And so if you have
the ability to get more of it now, and the prices are suppressed because of all this chaos in the
markets, it stands to reason that it is a really good time, if your time preference is long enough,
to get as much Bitcoin as you can right now, because they're guaranteed going to turn the
money printer on and inflation is going to run hot again. Yep. And on top of that, you can like,
we don't, oh, we don't know if it's going to go up or down. Like, bro, it's going to go up because
they have to print money. Like, there's a chart that I've been sharing on socials for a couple
weeks now, because it's just completely ridiculous, which is M1, or it's a S&P divided by M1 or M0,
which is base money for U.S. base money. Like, what's the balance sheet for the Fed? Like,
what's the base money, right? Divide that by the S&P 500 or switch that around.
But what it tells you is, if you were to denominate all of the growth in the S&P 500
for the last 80 years in M1 or M0, like, units, you see, at the end of the day, you see
that the entire economy, despite everything we've built, despite everything we've done,
everything we've done has lost 7% of its value. Now, the interpretation there is that,
where'd all the value go? Well, one, no value was actually created. It's all just been skimmed off
the top via inflation, period. Two, what are they going to do? They're going to print, because
that's the only solution that exists in the legacy environment. That's the only thing they
can do. It's been the playbook for the last 80 years. It's just so tired. Everyone knows it's
going to happen. They're going to print, the market's going to rally. None of it's real.
It's all fake. And once, to your point, once everyone figured out that it's all fake,
all the money basically just goes to Bitcoin, because it's the only thing that's real.
Yeah, I went and got a burrito this morning at a place. They used to be cash only. And
now they do accept credit cards, and they charge you a fee for that. But I'm in the mindset of
paying cash. I had some cash in my wallet. And so I bought a burrito. When I started buying
burritos at this place, by the way, they were under $8. And this one was $12.02.
I don't know why, but the guy gave me $0.98 change. So I gave him $0.20, he gave me $0.05,
$0.01, and $0.98. And so I'm holding the change in my hand. And all of the coins were the new
quarters and the new nickels are the ones that I saw. If you have some of this, for anybody
listening, hold the new quarters and the new nickels in your hand, and you can physically
look at them. And they look like cheap trash. The fact that he even had that change is,
it was like I traveled back in time, first of all, to be being handed change. Why not just round to
the dollar at this point? Like, yeah, there's, there's literally no point in counting the change
there's, there's literally no point in counting cents anymore, because inflation has taken all
the value out of those coins. But you can literally physically see that the value has
been sucked out the coins themselves have been debased. Yep. And a lot of people don't realize
that yet. Yep. What this I mean, we can probably close on this point. But the idea that all of this
is real. Oh, it's like the market crash. Oh my goodness. What are we going to do? Everybody
panic. It's just like, bro, no, just go buy Bitcoin. Get your head right. Like think on a
long term timeframe. All of it's like the entire legacy economy is just smoke and mirrors ridiculous.
It's like literally a game that doesn't matter. And you just have to check out of that once you
check out of that game, then you're checking into the real world. You actually have real
currency in the real world, which is Bitcoin. And it's actually tied to reality. And the
consequences there is that your actual wealth is actually stored and you have all of these other
benefits of having a real functioning economy, not the clown world economy, which is in panic
mode, apparently today, dude, drop panic mode, it just by Bitcoin, and you're like, easy sailing,
like, this is fine. We're good to go. It's good, man. Yeah. 100 years ago, you could save
bills, you could save dollar bills for a long time. And they roughly held their value,
you could even put them in the bank. And you could get a little bit of interest. And you could get a
little more stuff over time. That that time has passed. I showed you earlier, one of those apps
that's it's for women. It's a soap opera thing where you watch these 15 to 30 second videos,
and they kind of get you hooked. I say you but it's specifically to women because these things
are, they're the most insane storylines and they're like these romance things. And so it
shows you and I just did this to test it because I'm interested in the short form filmmaking,
but it shows you a few of them. And then at a certain point, you have to pay to see more of
them. But you pay with tokens on the app. And so you get 50 tokens for free when you have the app.
And you have to spend them and to get more tokens, you have to pay dollars to get the tokens. So
let's say that you're really into this app. And you have these tokens, and you haven't looked at
the app for a while. Well, you can get back on the app and use the tokens. But is that a store of
value? Are these tokens a store of value? No, they're only a store of value for that thing that
you want to watch for as long as this app exists. And as long as you care about this app. I'm trying
to make an analogy to that is what dollars are now. Dollars are the tokens. Bitcoin is the money.
So you want to exchange the tokens for the money, which is Bitcoin and do it quickly.
That reminds me of the famous meme, which is me trading my cold cat or Cole's cash for Bitcoin.
Colorized. It's like me trading my cold cash for real short 50 points. It's just it's all
it's all game money. It's not real. None of it's real. It's not real. And we're being forced to
gamble it into things like the stock market. And look what just happened. And, and do this,
go into your little your app on your iPhone for the stock market, this thing, and then go to bit
go to BTC USB and go to the one year and you look at it and you're like, okay, 15% growth, go to the
two year 186% growth, go to the five year 1000% growth, go to the 10 year 33,800% growth. Now do
the same thing with the S&P. And you go to the one year and you're like, oh, it's down 3%. And
the two year, okay, up 23%. Let's go to the 10 year up 140%. Bitcoin was up 33,000% over the last
10 years. So here we are, people are gambling on the stock market. And they could just be buying
Bitcoin. And it'd be just gonna lower those time preferences. Yeah, lower this time preferences.
All right, guys, we should wrap it up. Anton, thanks for jumping in.
You got it.
And we'll see you next time.
By Bitcoin.
Better, better by Bitcoin.
Better.
By Bitcoin.