WEBVTT 00:00:00.000 --> 00:00:10.000 Hey friend, listen. I know the world is scary right now. Corruption, war, inflation, demographics, 00:00:10.000 --> 00:00:16.680 degeneracy, disease, unrest, hatred, and despair. We didn't come here to tell you how it is, 00:00:16.680 --> 00:00:18.400 but that it's going to get way better. 00:00:18.400 --> 00:00:38.200 I wish we could just play that music for like four minutes, because it's just such a jam. 00:00:38.200 --> 00:00:46.520 Yeah, it's great. Gets you rolling, gets you in the mood. All right, welcome to the show. 00:00:46.520 --> 00:00:52.919 Today we wanted to talk about, well we got, today we got myself, Bondar, JD, Anton, and Corey with 00:00:52.919 --> 00:00:59.759 us. Today we wanted to talk about this crazy phenomenon that permeates our civilization, 00:00:59.759 --> 00:01:09.879 our society, which is this need, proclivity, or really need to solve the problem with the 00:01:09.879 --> 00:01:18.279 very thing that is causing the problem. Why do we do this? Why do we go down this route in the 00:01:18.279 --> 00:01:27.000 first place? Why do we kick the can down the road? Anton, before the show is on, I think you had an 00:01:27.000 --> 00:01:33.040 example of this phenomenon. Do you want to lay that out for us so we can get the ball rolling? 00:01:33.040 --> 00:01:42.160 Yeah, absolutely. So if people don't know what the cobra problem is, this could be apocryphal for 00:01:42.160 --> 00:01:47.320 all I know, but it's a really good metaphor. So in India, during the British colonial rule, 00:01:47.320 --> 00:01:53.680 there were a lot of cobras, and cobras are this dangerous animal. And so they said, 00:01:53.680 --> 00:01:59.959 hey, if you bring a dead cobra, we'll pay you, you know, a few pence, essentially, 00:02:00.680 --> 00:02:06.120 rupees. I don't know what the currency was at the time. And so people very quickly realized if they 00:02:06.120 --> 00:02:14.000 bred cobras, then they could just bring these extra cobras. And so it ended up like 10x-ing 00:02:14.000 --> 00:02:20.960 how many cobras were in India. And the same thing happens in a city like Los Angeles with 00:02:20.960 --> 00:02:27.839 homelessness. There's a billion dollars to solve the homeless problem. They appoint all these people 00:02:27.839 --> 00:02:33.080 to head up these organizations. So the more homelessness there is, the more money that gets 00:02:33.080 --> 00:02:37.119 thrown at the problem, the more these people can make off the homeless problem. And so that if they 00:02:37.119 --> 00:02:43.119 increase homelessness, they're just going to get more money. And that same thing happens with a lot 00:02:43.119 --> 00:02:54.679 of... it's basically a fiat creation. It's interesting. It's actually the lack of quality 00:02:54.679 --> 00:03:01.880 problem, right? Like the reason we had... and the answer to this, or rather the current term for it 00:03:01.880 --> 00:03:07.479 is planned obsolescence, right? This was something that was coined by some of the bigger behemoths of 00:03:07.479 --> 00:03:12.679 the day, where they just have a planned launch schedule for the different products, you know, 00:03:12.679 --> 00:03:21.800 Samsung or whoever. And as they expect you to upgrade your phone or your watch or whatever 00:03:21.800 --> 00:03:32.039 annually, they are incentivized to make an inferior product. It's the exact opposite of, you know, 00:03:32.039 --> 00:03:37.000 people who build a cathedral, right? If you're building, you know, St. Mark's Cathedral or 00:03:37.000 --> 00:03:42.759 whatever it is, you're building something in the physical world that is meant to stand the test of 00:03:42.759 --> 00:03:49.320 time, you know, thousands of years, hopefully, you're going to put everything into making sure 00:03:49.399 --> 00:03:53.240 it's the best, highest quality thing. And so, yeah, it's interesting. It's a total 00:03:54.119 --> 00:03:57.880 upstream incentive problem of like, people didn't think this all the way through. 00:03:59.240 --> 00:04:06.039 Yeah, I started my career in healthcare, and it's all over healthcare, I promise. I was at the 00:04:06.039 --> 00:04:11.960 biggest kidney dialysis company. I was working in their corporate office. And the way that CMS, 00:04:11.960 --> 00:04:16.920 which is the counterparty negotiator for healthcare payments for the government, the way that they 00:04:16.920 --> 00:04:20.279 negotiate is they determine how much money they're going to spend on it. And then they tell 00:04:20.279 --> 00:04:27.160 the companies how much money they're going to spend on everything. So there's an entire operations 00:04:27.160 --> 00:04:32.279 department in this kidney dialysis company of about 1000 people that literally just fights with 00:04:32.279 --> 00:04:36.519 the provider with the reimbursement for Medicare and Medicaid, about how much money they're going 00:04:36.519 --> 00:04:42.359 to make on each treatment. It's this massive inefficiency. And the way that that negotiation 00:04:42.359 --> 00:04:48.119 goes is the government says, well, how much money are you making from private insurers? 00:04:48.920 --> 00:04:54.440 And then the private company has to tell them, well, we make this much per private insurance 00:04:54.440 --> 00:04:58.760 patient. And then they say, we're going to determine how much profit we think is worthwhile 00:04:58.760 --> 00:05:04.600 for you. And then we're going to give you, we're going to underpay that. So that was literally how 00:05:04.600 --> 00:05:09.720 the negotiation went. And it was shocking to me, because absolutely nothing in those negotiations 00:05:09.720 --> 00:05:15.399 with the private insurers or with CMS had anything to do with how much the treatment cost 00:05:15.959 --> 00:05:21.320 to perform, or whether or not it was done well. It wasn't tied to patient outcome. It wasn't tied to 00:05:21.320 --> 00:05:27.000 anything. It's literally an industry that sustains itself from people who have the job so that they 00:05:27.000 --> 00:05:32.040 can continue to have the job. The incentives are completely misaligned. And in that case, 00:05:32.040 --> 00:05:37.160 in particular, that's 8% of the US healthcare spending is negotiated that way, right? 00:05:37.160 --> 00:05:42.679 You could reasonably say you have spent, you know, a couple percent every year of your 00:05:42.679 --> 00:05:50.200 tax dollars on that nonsense, that absolute nonsense. And it can make you, right, it's hard 00:05:50.200 --> 00:05:55.399 to find a tidy villain in that. It's just a complete mismatch of misincentives that perpetuates 00:05:55.399 --> 00:06:00.679 itself just to perpetuate itself. Yeah, it kind of reminds me of the 00:06:01.239 --> 00:06:05.720 Upton Sinclair quote, which I'm trying to find, but oh, here we go. It's the, 00:06:06.519 --> 00:06:11.640 it is difficult to get a man to understand something when his salary depends on his not 00:06:11.640 --> 00:06:18.679 understanding it, right? The idea that, man, if we did this correctly, none of us would be employed. 00:06:19.239 --> 00:06:26.279 So we're just never going to do it correctly. Do you guys think it's a pendulum? Do you think 00:06:26.920 --> 00:06:35.320 innovation and advancement is actually the reason we have so much inefficiency because we, or rather 00:06:35.320 --> 00:06:41.799 so much efficiency and so much of a lack of quality? Like, have we swung so far over on 00:06:41.799 --> 00:06:46.119 the efficiency side of the pendulum that we've just left quality behind? And do you think, 00:06:46.839 --> 00:06:51.160 do you think we'll go back? Hard no, but somebody else can field it. 00:06:51.160 --> 00:06:58.119 I think it totally depends on what field you're talking about, right? And which generation, 00:06:58.119 --> 00:07:04.279 because our parents said that boomers were all about quantity over quality and millennials and 00:07:04.279 --> 00:07:07.880 younger are kind of the opposite. They'd rather have a 10th as many things if they were higher 00:07:07.880 --> 00:07:12.600 quality things. So whether it's a pendulum or not, or just a generational issue, I think we'll 00:07:12.600 --> 00:07:22.119 see it change demographically over time. Yeah. I don't know if it's a pendulum or a circle. 00:07:24.119 --> 00:07:27.559 If you think of the book, The Fourth Turning, 00:07:30.440 --> 00:07:36.119 that idea is that history is a cycle and there are these epochs that keep happening. 00:07:36.119 --> 00:07:40.040 And when you talk about, I don't know, the thing that was brought to my mind was, 00:07:40.040 --> 00:07:44.920 I remember my grandfather who was born in probably, let's see, he fought in world war two. 00:07:45.880 --> 00:07:52.040 So he was probably born in maybe like 1917, 1918, somewhere around there. I just remember that he 00:07:52.040 --> 00:08:01.640 was a kid during the great depression and he had a good job later in life. He worked for 50 years 00:08:01.640 --> 00:08:07.720 for a college and ended up retiring. And, and, uh, I remember he used to make a cup of coffee 00:08:07.720 --> 00:08:14.040 in the morning and then he would only drink half of it. And then he would fill the other half up 00:08:14.040 --> 00:08:19.079 with water. And he would eventually later on in the day, microwave the cup of coffee, drink the 00:08:19.079 --> 00:08:26.519 rest of the coffee. Whereas for my parents, my mom could go to Sam's club and buy, you know, 00:08:26.519 --> 00:08:32.359 giant tins of Folgers coffee. And, and so there was this like extreme abundance, 00:08:32.359 --> 00:08:39.559 but it was this really crappy coffee. And I don't know, I don't know. I don't really have 00:08:39.559 --> 00:08:45.159 like a full way to tie all that up, but that's just all to say it's a, it's a, it's a cycle. 00:08:45.159 --> 00:08:50.280 Well, I think actually, so let me, let me posit this as an idea. So if people are familiar with 00:08:50.280 --> 00:08:54.039 some of the currency things that have happened, right. Uh, we'll use gold because it's the 00:08:54.039 --> 00:08:59.479 easiest, an easier store, a better story would be the, the stones of Yop, but that's kind of 00:08:59.479 --> 00:09:06.840 a cycle thing, but let's just go with like currency. Right. Um, when gold was first kind of 00:09:06.840 --> 00:09:13.799 like started as a currency, um, it was this thing that was really hard to make. It's like, cool, 00:09:13.799 --> 00:09:18.440 this is valuable because it's really hard to do. And then, you know, the next part of the cycle is 00:09:18.440 --> 00:09:23.479 like making it more efficient. And so what they did was they made it efficient and then they made 00:09:23.479 --> 00:09:27.880 like, you know, okay, well, let's just all put it at one place and do banks. And so it went from, 00:09:27.880 --> 00:09:31.239 you know, you have all this gold, but it's really hard to keep safe. Then, all right, well, you can 00:09:31.239 --> 00:09:35.239 just put in the bank and we'll issue you like paper treasury notes. So you can like have a receipt 00:09:35.239 --> 00:09:40.280 that says you have all this paper and then, well, now let's centralize all of those banks and not 00:09:40.280 --> 00:09:44.919 just make them private entities, but make them a, you know, a government. And so now this government 00:09:44.919 --> 00:09:48.919 has all of this thing, and now they're going to put it under the fed or some type of centralized 00:09:48.919 --> 00:09:52.440 entity. That's going to issue, you know, we're going to do more paper, but by the way, we don't 00:09:52.440 --> 00:09:59.159 actually have to have enough gold in the vault to actually get to this point where you can redeem 00:09:59.159 --> 00:10:02.039 it. Like we're going to read, we're going to give you more paper than we actually have gold for. 00:10:02.039 --> 00:10:06.760 And so then you kind of get to that next part of the cycle, which is that one. And now you kind of 00:10:06.760 --> 00:10:11.880 need to go back to the reinvention part where it's like, all right, well, so now we have more 00:10:12.599 --> 00:10:17.239 gold or more paper than we do gold. So we're on the opposite side of the spectrum where we had 00:10:17.239 --> 00:10:21.640 started the paper here, and now we have a crap ton more paper than we do gold, which is the opposite. 00:10:21.640 --> 00:10:26.599 So we're in this imbalance. And so it's like this imbalance is kind of driving us to this next place 00:10:26.599 --> 00:10:31.640 where we are now. We come to Bitcoin. So it's really interesting to see kind of how this 00:10:33.640 --> 00:10:37.239 abundance cycle with is kind of like, you know, go back to the Folgers on your mom 00:10:37.239 --> 00:10:40.599 is like, all right, we have really high quality coffee, but I want to like make sure it lasts a 00:10:40.599 --> 00:10:43.400 lot longer. So I'm going to probably water it down. It's like, well, now we have a crap ton 00:10:43.400 --> 00:10:46.760 of really crappy coffee. And it's like, well, now nobody cares about coffee because it's not 00:10:46.760 --> 00:10:49.960 even coffee anymore. It's grown in the lab. And so now we're going to get back to it's like, well, 00:10:49.960 --> 00:10:53.239 I want to make real coffee again. Right. It's like I think I think you are right. Like it's 00:10:53.239 --> 00:11:02.440 more of a cycle, a circle than it is a pendulum. I tend to think about it more deterministically, 00:11:02.440 --> 00:11:12.039 as in these are technological advancements that provide real value and they build on each other. 00:11:12.679 --> 00:11:18.520 So in getting back to the original thing, why do we solve all the problems with create by creating 00:11:18.520 --> 00:11:25.159 more problems in a fiat denominated world? We do this because one of the core natures of the money 00:11:25.159 --> 00:11:28.919 we have is that we can just always print more of it. We can always just get into more debt like 00:11:28.919 --> 00:11:35.080 paper over our problems. We can always kick the can down the road, even if even if it's like the 00:11:35.080 --> 00:11:43.000 most insane. Biggest can you never think you can kick because it's just it's just paper currency 00:11:43.000 --> 00:11:46.760 that, you know, oh, well, just whatever more debt, more inflation, et cetera. 00:11:47.559 --> 00:11:52.039 Now, you're you're still eating those costs and some in in the inflation. Right. But. 00:11:54.440 --> 00:11:59.640 When you look when you look back at gold, well, did they have that problem? Not really. They had 00:11:59.640 --> 00:12:04.679 different a whole different set of problems. And those problems had different consequences. One of 00:12:04.679 --> 00:12:10.280 the things I was thinking about today was that like under a gold currency, you have. 00:12:12.599 --> 00:12:20.119 A robust return for colonialism, if you have stronger weapons, you can just invade somebody's 00:12:21.000 --> 00:12:25.799 nation, take all of their gold. And because you already have the stronger weapons, 00:12:25.799 --> 00:12:31.320 like one, the war that you start won't destroy any of the gold. And then two, 00:12:31.320 --> 00:12:37.000 because you have the stronger weapons, you'll be able to defend the extraction of all that gold 00:12:37.000 --> 00:12:44.039 back to your home base. Right now. Think about Fiat. Well, in Fiat, it's all these weird debt 00:12:44.039 --> 00:12:50.200 structures and all this other kind of opaque backroom deals and all that. So it's not really 00:12:50.200 --> 00:12:55.479 like you can't really invade a country like you can with a military and expect that you'll get 00:12:56.359 --> 00:13:04.440 a return on that. But you do need to use your military to invade countries to enforce that the 00:13:05.080 --> 00:13:12.039 Fiat currency you have and that you use retains its value. Right now, you jump into Bitcoin. 00:13:12.039 --> 00:13:19.000 It's a totally different dynamic. It's OK. Well, you have a Fiat or you have a currency that is 00:13:19.000 --> 00:13:23.719 predicated on information entirely, kind of like debt is predicated on information, 00:13:24.520 --> 00:13:29.479 but you don't need the violence to support the information or you don't need the violence to 00:13:29.479 --> 00:13:38.599 support the currency at all. So there really is no return for like the colonial expenditure at all, 00:13:38.599 --> 00:13:43.799 because there's no way to extract the information. And if you go to war to try and get Bitcoin, 00:13:43.799 --> 00:13:48.760 there's a high likelihood that you'll randomly bomb the wrong place and destroy the private keys. 00:13:48.840 --> 00:13:54.919 So you can kind of see this like it's not necessarily cyclical. It's determined by the 00:13:54.919 --> 00:13:59.559 technology, the state of the technology determines the outcome of the system. So 00:14:00.919 --> 00:14:06.359 you're getting back to the original question of why does why do we solve the problem with just 00:14:06.359 --> 00:14:12.440 papering over the problem? Well, because the state of the system determines the outcome of the system 00:14:12.440 --> 00:14:17.080 and we can just print more money. So that's what we do. It incentivizes that behavior. Right. And 00:14:17.080 --> 00:14:24.679 I think and for the past little over 100 years where we've had term limits, we haven't had a 00:14:24.679 --> 00:14:29.960 single person ever, including the people who started fractional reserve banking, including 00:14:29.960 --> 00:14:36.200 the people who oversaw fully leaving the gold standard, who have had to pay for that decision. 00:14:36.200 --> 00:14:40.919 No one has no one who made that decision had to pay for that decision. It makes it incredibly easy. 00:14:41.479 --> 00:14:46.760 And that includes the citizens who voted for those people and who bore those costs. 00:14:46.760 --> 00:14:53.159 Right. If you can print the money, people say tax and spend. But in reality, our system is spend 00:14:53.159 --> 00:14:56.919 then tax. You determine how much you're going to spend and then you determine how much tax you're 00:14:56.919 --> 00:15:04.119 going to. There's no counterparty negotiator with the with the government. So if you don't have the 00:15:04.119 --> 00:15:09.320 tax dollars and you can just invent it, you're you're essentially just taking on a very, very 00:15:09.320 --> 00:15:16.919 long term loan against the value of your people's assets. And no one feels that within your term. 00:15:16.919 --> 00:15:22.119 So if you're on a four year term or an eight year term within 48 years, if you if you keep the 00:15:22.119 --> 00:15:27.320 inflation below 25 percent in four years, which is what Biden hit, this is when it became a huge 00:15:27.320 --> 00:15:32.039 problem. You can just keep it below that. You're going to get all the way through your term doing 00:15:32.039 --> 00:15:38.119 what you want to do and your citizens will bear the cost of that. But they won't really feel it 00:15:38.119 --> 00:15:46.440 until whoever succeeds you. And I think that level of being able to promise while disrespecting 00:15:47.239 --> 00:15:53.080 your own scarcity has led to this kind of repetition of this problem over and over and over again. 00:15:54.359 --> 00:15:59.960 Anton, I want to ask you kind of like a follow up to what Corey was just saying of like. 00:15:59.960 --> 00:16:12.119 Do you think. Do you think the problem is innovation and kind of like we're moving so fast that we're 00:16:12.119 --> 00:16:18.520 not really realizing that we're solving like we're paving over things or do you think the problem is 00:16:18.520 --> 00:16:27.239 a lack of reflection? Bondo and I were talking before we started, there was a sort of a debate 00:16:27.239 --> 00:16:35.559 that he's been in on X, somebody essentially complaining that they are not able to make enough 00:16:35.559 --> 00:16:42.760 money to survive in this this cycle. It's like a downward spiral into homelessness. And Bondo was 00:16:42.760 --> 00:16:49.320 very general, generously saying, essentially, what amounts to you should start saving your money in 00:16:49.320 --> 00:16:55.000 Bitcoin so that you see the value of your money go up. And when you try to tell people that you 00:16:55.400 --> 00:17:02.760 And when you try to tell people of the generation that we're in that we have the ability to reclaim 00:17:02.760 --> 00:17:12.199 our sovereignty and it gives us the it's a responsibility that we have now because we now 00:17:12.839 --> 00:17:18.599 can see the value of what we have growing and then we can deploy it how we see fit. 00:17:18.599 --> 00:17:23.719 But for an entire generation prior to us and the generation that we're in now, 00:17:24.280 --> 00:17:31.400 there has been so much money printed and given out that people are used to it. And they just, 00:17:31.400 --> 00:17:37.000 in general, people don't want the freedom because the freedom is scary. They want to be taken care 00:17:37.000 --> 00:17:43.239 of. They've witnessed money printing. They've witnessed social programs that they've benefited 00:17:43.239 --> 00:17:51.160 from. And they've liked that because the money just appears out of thin air and it gets distributed. 00:17:51.160 --> 00:17:56.119 And sure, a few people get rich, but it eventually trickles down. It eventually gets to me. 00:17:56.839 --> 00:18:06.199 And so it's like the innovation is here. The innovation is Bitcoin. But that innovation 00:18:06.199 --> 00:18:13.479 gives you freedom. And people, our generation are afraid of the freedom that Bitcoin provides 00:18:13.479 --> 00:18:18.119 because they're like, well, yeah, I could get Bitcoin. What if I lose it? What if it loses 00:18:18.119 --> 00:18:23.719 value? What if I don't understand it? What if I don't? And they give a million reasons and they're 00:18:23.719 --> 00:18:30.680 like, I would rather there was modern monetary theory where the government just prints enough 00:18:30.680 --> 00:18:36.280 money to pay the debt that we have. And then society just functions. And if I'm unemployed, 00:18:36.280 --> 00:18:41.400 I just go and get unemployment. And if I need a house, I just go get Section 8 housing and 00:18:41.400 --> 00:18:46.599 on and on and on. And so the problem, I think, is this generational thing that 00:18:48.359 --> 00:18:55.959 my belief is that Bitcoin just exists. It's going to continue growing, continue being integrated 00:18:55.959 --> 00:19:02.839 into until it takes over. And so you better get in because Bitcoin is here and it's not going away. 00:19:03.400 --> 00:19:10.920 Yeah, well stated. This is like a real, like actually real argument that's being posted on 00:19:10.920 --> 00:19:16.280 Twitter in response to what I'm talking about or the thread Anton's talking about, 00:19:18.119 --> 00:19:23.880 which is the person is asking if you give I offered to give them Bitcoin like through the 00:19:23.880 --> 00:19:29.239 Internet, which, of course, they were like, oh, if they asked if you give me Bitcoin, 00:19:30.199 --> 00:19:36.920 will that show up on my what do I have to like deduct that from my like child care, like 00:19:37.719 --> 00:19:42.040 whatever thing or like the does that mean that like my stipend will be less or just like, 00:19:42.040 --> 00:19:45.479 how does that affect? I'm like, I have no idea. It's five dollars. But like, 00:19:46.359 --> 00:19:51.479 like, that's where their mind goes. It's like, wait a second. If I make that extra money, 00:19:51.479 --> 00:19:56.680 that's going to push me a little bit further out of the welfare cliff zone, which is going to be 00:19:56.760 --> 00:20:02.599 harmful to me because I'm not going to be getting the same amount of money. Right. Why would I go 00:20:02.599 --> 00:20:07.079 through the effort of jumping through all these hoops of working, blah, blah, blah, when I can 00:20:07.079 --> 00:20:14.280 just do nothing and stay on the welfare, like stay on welfare forever? Like, why would I ever do that? 00:20:14.839 --> 00:20:22.280 Oh, yeah. Unbelievable. I just can't sometimes. Corey, you mean. Oh, good. As you say, 00:20:22.359 --> 00:20:27.079 you have you experienced real estate. So I'm curious, you know, on that whole thing of like 00:20:27.640 --> 00:20:30.920 that mindset, like that. I'm going to call it the renter's mindset. But like, 00:20:31.640 --> 00:20:36.839 you know, do you think that like where does that come from? I guess. Yeah, I mean, I think I think 00:20:36.839 --> 00:20:43.079 the the the welfare program, as well as as Section eight is, you know, is a big one. And then the 00:20:43.079 --> 00:20:48.359 ways that we incentivize we disincentive, we financially disincentivize the family. 00:20:48.359 --> 00:20:53.079 And there's a direct correlation with when we did that to the dissolution of the family, 00:20:53.079 --> 00:20:57.079 especially in the poorest communities. You can look at all of those things as a fundamental 00:20:57.079 --> 00:21:01.959 misunderstanding of human nature, in my mind. And I think they're they're very principled people. 00:21:01.959 --> 00:21:05.479 And they're probably very compassionate people who thought they were doing really, really good 00:21:05.479 --> 00:21:10.520 things. And there are people who have received that money who really needed it at the time. 00:21:10.520 --> 00:21:15.000 And if that were to all go away, I would weep for those people that didn't have that. I'd say, 00:21:15.000 --> 00:21:21.000 by and large, when you provide value without someone giving value, in a collectivist way, 00:21:21.000 --> 00:21:25.319 you've demolished their ability to ever provide for themselves. Again, I think it's incredibly 00:21:25.319 --> 00:21:31.160 hard to repair that. So there's a lot of good discussion to be had on each one of those policies 00:21:31.160 --> 00:21:37.000 in which what's the best way to make it effective. But if you commit the original sin of providing 00:21:37.000 --> 00:21:41.400 value for someone who was able to provide for themselves, and now they don't have to getting 00:21:41.400 --> 00:21:47.000 them back to providing value for themselves once they're off of that, you know, once they haven't 00:21:47.000 --> 00:21:53.000 had to just unbelievably hard. I don't think I don't I don't know that it's possible in any sort 00:21:53.000 --> 00:21:57.640 of real way. And you can see it as, you know, post World War Two, as the wealth of America 00:21:57.640 --> 00:22:02.839 started to grow, our poverty rate fell from something like 40% to about 17%. And then we 00:22:02.839 --> 00:22:07.479 added an enormous amount of programs to take care of the poor and the poverty rate stopped falling. 00:22:08.119 --> 00:22:14.760 And I'm so curious what would have happened if we hadn't done that? I don't know. Honestly, 00:22:14.760 --> 00:22:20.520 you know, I think there is a minimum that it can fall to. I think, you know, like Jesus says, 00:22:20.520 --> 00:22:25.000 the poor will always be with you, there will always be a bottom 10% of society who is very, 00:22:25.000 --> 00:22:30.439 very incapable of providing for themselves and in society. But it's a shame. And we've never 00:22:30.439 --> 00:22:34.680 been able to reduce the poverty level since we instituted all of these policies to take care 00:22:34.680 --> 00:22:40.920 of the poor, because it didn't incentivize them to get out of the poor class. So it's just to me, 00:22:40.920 --> 00:22:46.199 it's just sad. And it comes from just a wild misunderstanding of human psychology and 00:22:46.199 --> 00:22:51.640 motivation and responsibility. Another thing that's fascinating about it, intellectually, 00:22:51.640 --> 00:22:57.079 is that it has these practical implications, right? Like, as we've just described, 00:22:57.079 --> 00:23:01.319 these are real tangible rubber hits the road incentives that cause people to change their 00:23:01.319 --> 00:23:08.040 behavior. But those don't just, it's like, doesn't stop there. It like works its way through 00:23:08.680 --> 00:23:14.439 the intellectual edifices of everything. That's like you get it's, oh, it's not necessarily like 00:23:14.439 --> 00:23:21.719 the homeless thing, etc. But like, no, actually, it's so complicated now. And like, we, you 00:23:21.719 --> 00:23:30.359 basically, it's the building on the cornerstone argument, if we put together a visual image about 00:23:30.359 --> 00:23:35.000 what this looks like, if you haven't built a house, and you remove the cornerstone of that 00:23:35.000 --> 00:23:39.959 house, all like everything else in the house is going to be like, start cracking, the roof is 00:23:39.959 --> 00:23:43.880 going to be sagging, like, there's going to be pooled water in weird places, it's going to start 00:23:43.880 --> 00:23:48.920 mold, and then you're gonna have to, you know, repaint these things. And the foundation is now 00:23:48.920 --> 00:23:56.439 like, not even so you have to put in new concrete, like, you have to do all of these things, right? 00:23:56.439 --> 00:24:01.959 It works its way through the entire house, the fact that you don't have this missing piece that 00:24:01.959 --> 00:24:07.160 is part of the foundation. And when you don't, like the consequences of that are, well, now you 00:24:07.160 --> 00:24:12.280 got to hire a guy to do the painting, you got to hire a guy to redo the roof, you got to do mold, 00:24:12.280 --> 00:24:16.599 like mold control, you got to redo all your pipes, you got to plaster everything again. 00:24:17.239 --> 00:24:23.479 And like, all of that manifests itself in getting back to the reality of it is like, 00:24:24.280 --> 00:24:32.920 the economic institutions in all of our higher education, all of them have bought into the system 00:24:32.920 --> 00:24:40.599 of fiat as the normative, regular way that everything should work and function. And so, 00:24:41.160 --> 00:24:49.560 oh, why would we ever replace the fiat system with a system that works? Instead, we need to repair 00:24:49.560 --> 00:24:54.119 all of the little cracks and all crannies and do like, unbelievable amounts of work when we 00:24:54.119 --> 00:25:02.520 could just do the one fix that solves everything. I think the biggest stain on humanity is equality. 00:25:03.880 --> 00:25:13.400 And, or sorry, excuse me, is equality. Because I think, like the biggest stain is equality, 00:25:13.400 --> 00:25:23.400 not equity. Because at the end of the day, if you have forced equality, then you can never have 00:25:23.400 --> 00:25:31.319 any equity in anything, period. I think we would see a very different Los Angeles if we did not 00:25:31.319 --> 00:25:41.000 have such a lurch towards equality. Because at the end of the day, there just are unsightly people in 00:25:41.000 --> 00:25:45.880 some ways. I mean, that's just the truth here, right? It's like some people are miserly, some 00:25:45.880 --> 00:25:52.839 people are scoundrels. And then there are a lot of people who are really great and some people who 00:25:52.839 --> 00:26:03.560 can be taken advantage of. There's a lot of putting, like the notion that equality is important 00:26:03.560 --> 00:26:09.800 is essentially saying, I need to build a box that can hold these two magnets that are diametrically 00:26:09.800 --> 00:26:15.079 opposed to each other right next to each other. You're just asking for something to break or to 00:26:15.079 --> 00:26:21.640 go wrong. Because the thing is, if you have two of the same magnet trying to push up against each 00:26:21.640 --> 00:26:25.880 other, they don't want to do it. What's going to happen is they're going to flip over and snap you. 00:26:26.439 --> 00:26:33.000 And so it's, now it's a terrible analogy, but I just think, I think a lot about this as I'm 00:26:33.000 --> 00:26:37.479 driving through Los Angeles. We went and saw a house today, just kind of like looking around, 00:26:37.479 --> 00:26:41.400 because there's like random things that pop up. And I go, I want to go see that, 00:26:41.400 --> 00:26:45.319 because it's like an ancient house from like the 1920s. And like those don't come up on the 00:26:45.319 --> 00:26:50.199 market very often. And so we want just to kind of go and look and see if there's like giant 00:26:50.199 --> 00:26:56.439 Hacienda estate. And that was built in a different time. And it was built on top of a hill. And it 00:26:56.439 --> 00:27:05.000 was built at the time when to have that piece of property and to have the opportunity to build that 00:27:05.560 --> 00:27:11.319 thing, you had to have impacted a lot of people's lives because you had a hard asset, you had 00:27:12.119 --> 00:27:21.719 goods that you were able to transact with that got you enough equity in your assets or in your 00:27:21.719 --> 00:27:26.119 contribution to society to afford you the opportunity to do that. And so the problem is 00:27:26.119 --> 00:27:32.040 we're losing out on so many great inventions and innovations because we're telling people, 00:27:32.680 --> 00:27:37.640 you know, oh, we have to give the same number of equal outcomes to these other things. And it's 00:27:37.640 --> 00:27:46.599 like, you know, equality does not guarantee success, but meritocracy can at least give 00:27:46.599 --> 00:27:59.800 the opportunity for it. Anyways, diatribe over. Well, I was just going to say there's a bell curve 00:27:59.800 --> 00:28:07.079 and people are of a, in general, people are generally average intelligence. And then you 00:28:07.079 --> 00:28:13.880 have geniuses on one end of the bell curve. You have complete idiots. I was going to use the R 00:28:13.880 --> 00:28:21.959 word on the other end of the bell curve. Well, maybe it's a better analogy actually to say 00:28:21.959 --> 00:28:27.079 there are extremely bad people on one end of the bell curve. Most people are generally pretty good. 00:28:27.079 --> 00:28:30.920 And then you have like geniuses on the other side of the bell curve. The problem when you have, 00:28:31.880 --> 00:28:38.199 when the government mandates or a corporation, we're going to have equality. And so we're going 00:28:38.199 --> 00:28:42.520 to shake everybody up and we're going to make sure that we have equal representation of blah, 00:28:42.520 --> 00:28:47.640 blah, blah, instead of meritocracy. Well, if you just stick a genius in there, if that was going 00:28:47.640 --> 00:28:53.160 to happen, that's great. The genius is going to do great. If you stick a really bad person in there, 00:28:53.160 --> 00:28:59.239 that person can cause catastrophic problems. And the reality is whether there's meritocracy or not, 00:28:59.239 --> 00:29:02.760 the geniuses, they're going to go and be geniuses no matter what. They're probably 00:29:02.760 --> 00:29:08.520 not even in the equation. They're doing their own thing. And so this idea of taking 00:29:08.520 --> 00:29:17.160 meritocracy out and doing equity or like forcing equality causes catastrophic problems because 00:29:17.160 --> 00:29:22.920 those extremely stupid or extremely bad people when they're just forced into an organization 00:29:22.920 --> 00:29:27.400 or into a government or it just causes really bad things to happen. 00:29:28.920 --> 00:29:34.119 Yeah. I think, and I'm going to just caveat the word bad because I think you're, you know, 00:29:34.119 --> 00:29:39.319 if anybody is like listening, I think that the word bad in this context is ill-equipped, 00:29:39.319 --> 00:29:44.280 right? Like there are, there is no reason I should drive a Formula One race car, 00:29:45.560 --> 00:29:50.040 period. I just don't know how, I don't know how, but if we want equality in Formula One, 00:29:50.040 --> 00:29:56.040 yes, I will be the idiot who gets in that car and like, we'll go 250 miles an hour straight 00:29:56.040 --> 00:30:01.880 into a wall. Like I volunteer, that sounds like fun. But I am not the person, like if you want 00:30:01.880 --> 00:30:07.560 to have a working business of Formula One, like you just don't do that. And so I think that's the 00:30:07.560 --> 00:30:14.040 problem is a lot of times, you know, people start to look at the equality equation and they just, 00:30:14.599 --> 00:30:21.160 you know, equality feels good. It feels good, right? I don't disagree with that, but the problem 00:30:21.160 --> 00:30:25.079 is, you know, if somebody doesn't know how to fly an airplane, you probably shouldn't put them in 00:30:25.079 --> 00:30:31.160 charge of 350 people's lives, right? You shouldn't, you should put somebody in that chair who 00:30:31.160 --> 00:30:36.760 understands and is equipped mentally, emotionally, you know, physically, relationally, like there are 00:30:36.760 --> 00:30:40.920 different temperaments for things that are actually like really, really good, right? There's a reason 00:30:40.920 --> 00:30:47.400 that, you know, women are really good maternal figures and that we have that name of a maternal 00:30:47.400 --> 00:30:51.479 figure, because at the end of the day, like that's what they were hard-coded and programmed to do 00:30:52.839 --> 00:30:58.839 just by God. But anyways. Yeah, I mean, I think there's a, to bring this back to the original 00:30:58.839 --> 00:31:03.079 question we had, why do we keep doing things the same way when it's causing the problem, is I think 00:31:03.640 --> 00:31:10.439 there's a real humanist angle to the way that America has operated for about 100 years and 00:31:10.439 --> 00:31:16.520 increasing measure and the best outcome for humanity, if you don't believe that humans are 00:31:16.520 --> 00:31:22.119 God-breathed sparks of the divine, the best thing that you can hope for is equality because any 00:31:22.119 --> 00:31:29.640 difference in outcome then is an indictment on the value of that person. And especially in America, 00:31:29.640 --> 00:31:33.400 we've made the value of a person very similar to their net worth. We've also made it similar to 00:31:33.400 --> 00:31:39.239 their power, to their efficiency. And what's that that's done to women is said, if you want to be 00:31:39.239 --> 00:31:44.680 as valuable as a man, then you need to be as valuable to the market as a man is. And almost 00:31:44.680 --> 00:31:49.000 all of them are not, some of them are more, some of them are less, but they're definitely not equal. 00:31:50.199 --> 00:31:54.680 You know, we're all, we're four guys who have fairly similar backgrounds with fairly similar 00:31:55.239 --> 00:32:01.719 worldviews. And we're also wildly unequal in almost every way that you could, that you could 00:32:01.719 --> 00:32:06.920 cut it up. And we're probably four of the most similar guys in LA and we're still wildly unequal 00:32:06.920 --> 00:32:13.000 from each other. So you have this worldview that says, if it's completely humanist and says, 00:32:13.000 --> 00:32:18.280 what's the best thing that we can do for humanity? Well, if there's no God-breathed spark of divinity 00:32:18.280 --> 00:32:24.119 in every person, then we need people to be on the same plane. And let's try to do everything that we 00:32:24.119 --> 00:32:29.079 can to make that happen. What happens when it all breaks? I guess we didn't do it hard enough. 00:32:29.079 --> 00:32:35.719 Let's do it more. Let's do more. Vote harder. Let's do more forcing of equality of outcomes. 00:32:35.719 --> 00:32:40.199 And that's where you get things like billionaires shouldn't exist, or that person shouldn't have that 00:32:40.199 --> 00:32:46.040 much money. That's logically consistent with a humanist perspective for the utopia of humanity. 00:32:46.040 --> 00:32:52.599 It's also hell, right? Like that utopia is what we would identify as hell. No one has any 00:32:52.599 --> 00:32:58.599 individuality. No one has any difference from one another. So I would, I have to lay that, 00:32:58.599 --> 00:33:03.239 you know, that kind of Christian worldview on top of it and say the only way out of that, like 00:33:04.119 --> 00:33:08.680 generation to generation of Christianity can't do things the same way because God has continually 00:33:08.680 --> 00:33:14.119 revealed in new and new, interesting, you know, beautiful, glorious ways across generations, 00:33:14.119 --> 00:33:18.359 like our children should not grow up and be dealing with the same things that we're dealing 00:33:18.359 --> 00:33:24.920 with, like a continuous growth. That to me is the antidote to trying to solve the same problems 00:33:24.920 --> 00:33:29.000 with the same solutions and just causing more of the same problem. But while we're in a humanist 00:33:29.000 --> 00:33:35.239 environment, I don't expect that to stop anytime soon. So I think this is probably a good, good 00:33:35.239 --> 00:33:42.199 place to like transition to, okay, how does Bitcoin make this better? How, like Corey, 00:33:42.199 --> 00:33:47.160 you just mentioned what you think a solution might be. And I think that's totally correct. 00:33:49.479 --> 00:33:52.680 How does Bitcoin make this better? JD, you were going to say something. I don't know if it's on 00:33:52.680 --> 00:33:57.479 this, but I'm curious to know. I was just going to talk about equality and the fact that I would 00:33:57.479 --> 00:34:03.079 like to have as amazing of a hairline as all of you guys, but I do not. So the, the quality of 00:34:03.079 --> 00:34:09.639 hairline here is really frustrating for me who has equity in my grandfather's hairline that is going 00:34:09.639 --> 00:34:15.320 to see my hair back here very soon. So that was the main thing I was going to say. But yeah, no, 00:34:15.320 --> 00:34:19.719 I think the positive spin on this is I think actually Bitcoin is the first attempt at equality 00:34:19.719 --> 00:34:29.159 ever. And what I mean by that is it's equality is truth. And I think that's not to be confused 00:34:29.159 --> 00:34:37.959 with the quality of outcome, but like the only thing that we can all be equal in is the binary 00:34:37.959 --> 00:34:44.280 of truth. Something is true or it is false. And like equality is the equation, right? Like it 00:34:44.280 --> 00:34:48.840 needs to be one, you know, one plus one equals two. Like that's like, that's true equality. 00:34:48.840 --> 00:34:54.919 True equality is balance, right? But I think that's the issue is a lot of too many people 00:34:54.919 --> 00:35:10.040 confuse the desire to instantiate balance in a system with the, and like trying to predispose 00:35:10.600 --> 00:35:19.399 a balance in the equation with you know, the fact that you cannot ignore all of the variables 00:35:19.399 --> 00:35:26.840 within that system. And so the biggest issue with equality is people and why Bitcoin is great. 00:35:26.840 --> 00:35:33.239 And the hope that I have is when you use code that's open source, everyone can read, 00:35:33.239 --> 00:35:39.639 you have a quality of seeing the whole framework play out. It's all there. Everyone can see it. 00:35:40.040 --> 00:35:44.360 And yeah, you have a quality of understanding of there are 21 million of these things and there 00:35:44.360 --> 00:35:50.199 will never be any more. And so it's the first opportunity for us to look at truth, equality, 00:35:50.199 --> 00:35:57.239 at true equality as something we can put into the system of humanity of human society to make it 00:35:57.239 --> 00:36:00.600 better. It's like, that actually does make me really, really optimistic that, you know, 00:36:00.600 --> 00:36:05.000 with this utopia that people want could actually come about because the only way to get there is 00:36:05.000 --> 00:36:09.320 through equality and equality is actually like having all the cards out there for everyone to 00:36:09.320 --> 00:36:14.360 see. Can I give you a hypothetical? Oh, sorry. Go ahead, Anton. I don't want to jump in. No, 00:36:14.360 --> 00:36:21.639 I'm good. Go for it. So like a hypothetical, as we look at like from the formation of central 00:36:21.639 --> 00:36:27.320 banking where you see most of this modernism and postmodernism and progressivism rises from there 00:36:27.320 --> 00:36:34.120 and then accelerates in 1971. If you imagine that we were on a Bitcoin standard from 1913 on, 00:36:34.120 --> 00:36:38.840 there's no central bank and all of those policies, everything top down that we've done, 00:36:38.919 --> 00:36:45.159 that we've voted for in order to force equality of outcome had to be actually paid for by taxes 00:36:45.800 --> 00:36:50.919 by the people in that moment to make those things happen. How many of those things do you think 00:36:50.919 --> 00:36:56.600 happen? How big do you think we let USAID get? How many wars do we actually fight, right, to 00:36:56.600 --> 00:37:02.199 liberate the people of the Middle East to take their oil or, you know, whatever that thing is, 00:37:02.199 --> 00:37:07.959 right, Department of Education, right? How many of those things do we do if you actually have to 00:37:07.959 --> 00:37:11.959 be truthful about what they cost and then you have to report back to the people who actually 00:37:11.959 --> 00:37:18.679 paid for it, the citizens? Did it work, right? And then you have to be really, really honest 00:37:18.679 --> 00:37:23.399 about saying, all right, you know, what if that actual tax rate was there and we hadn't printed 00:37:23.399 --> 00:37:27.560 any money and we spent the same amount of money? One, that would have been impossible. But two, 00:37:27.560 --> 00:37:33.080 we would have higher than Norway tax rates. So you'd have a population saying, all right, 00:37:33.080 --> 00:37:39.479 70% tax rates in order to get to elevate the poorest and to bring down the richest. Is it 00:37:39.479 --> 00:37:44.520 working? Are we happy with this society? I think the level of tolerance for that from normal people 00:37:44.520 --> 00:37:51.080 who are productive in society would be basically zero. And yeah, so that's, well, how does Bitcoin 00:37:51.080 --> 00:37:55.000 fix it? We can't do it backwards for the last 100 years, but we can do it for the next 100 years 00:37:55.000 --> 00:37:58.600 and find out. I think it'll be dramatically different. You can actually like do the 00:37:58.600 --> 00:38:03.879 numbers on that, Corey. Essentially just take the national debt and something like 00:38:03.879 --> 00:38:08.439 divide it by the number of households and it's whatever, over $200,000 of debt per household. 00:38:08.439 --> 00:38:15.719 It's like that cost, which is a rolling cost we pay interest on. Just imagine that was just 00:38:15.719 --> 00:38:21.800 applied. Everyone owed that today to get out of the debt, right? That's literally what the 00:38:22.760 --> 00:38:28.919 economic political cost is. It destroys so much of America. It's just gone. 00:38:28.919 --> 00:38:34.679 I actually think though, not to cut you off, Corey, but I actually think that is the solution. 00:38:35.320 --> 00:38:40.280 I think if you sent everyone a $200,000 tax bill and said, by the way, you're on the hook for this 00:38:41.800 --> 00:38:48.199 and just started us there and everyone in America had to now crawl out of a $200,000 hole, 00:38:48.760 --> 00:38:53.800 it would immediately change the worldview of everyone overnight because of just like, oh. 00:38:53.800 --> 00:38:58.919 I agree. But that's what I'm getting at. This is my first question for people when I start 00:38:58.919 --> 00:39:03.959 orange-pilling them is how do you feel about our government spending? When you look at the national 00:39:03.959 --> 00:39:08.520 debt, that's for the stuff that you already have. That's not even for the coming promises. 00:39:08.520 --> 00:39:12.280 That's for everything that you have right now. Are you happy with your infrastructure? Are you 00:39:12.280 --> 00:39:15.719 happy with your education? Are you happy with your healthcare? Are you happy with your military 00:39:15.719 --> 00:39:23.320 spending? No one is. No one is happy with any of that and it's cost you $200,000 per household in 00:39:23.320 --> 00:39:30.919 debt. That's insanity, right? So I think how could Bitcoin not undo that, right? For the people in 00:39:30.919 --> 00:39:34.919 charge to actually have to get permission from people to pay for these things and then report 00:39:35.000 --> 00:39:45.000 about how it went? And not even just report. Ideally, it would all be on publicly known 00:39:45.560 --> 00:39:51.639 Bitcoin addresses so you can actually have any autist just go through and look at every single 00:39:51.639 --> 00:39:56.120 cent that was spent and who it was spent to and how it works through the system and what it touches. 00:39:56.120 --> 00:40:01.159 It's mind-boggling the amount of transparency you have all of a sudden. Anton? 00:40:02.120 --> 00:40:07.560 Yeah, did you guys see, this is going to date the show a little bit, but Ben Shapiro interviewed 00:40:08.199 --> 00:40:14.919 Vladimir Zelensky, the current president of Ukraine. And he was asking about the $200 billion 00:40:14.919 --> 00:40:21.879 that the US has given to Ukraine and asking about an audit. And then Zelensky just went on and on 00:40:21.879 --> 00:40:26.919 like rambling. I don't even know, I could not follow what he was saying. It sounded like he 00:40:27.800 --> 00:40:32.520 was just trying to cause a distraction because he was like, please don't audit. I have no idea 00:40:32.520 --> 00:40:40.679 where this money went. And when there's a Bitcoin standard, you can't just print $200 billion. 00:40:40.679 --> 00:40:49.399 That's such an asinine, huge figure of money that we have no idea if it did anything to stop a war. 00:40:50.120 --> 00:40:57.159 It definitely killed a lot of people. And in the future, we will decide 00:40:58.199 --> 00:41:02.520 if we want to spend that money to give to a foreign country to fight a war. And the reality 00:41:02.520 --> 00:41:06.280 is we're probably going to be like, no, we'd rather just have peace. So we're not going to 00:41:06.280 --> 00:41:13.399 give you money for tanks and for drones. Anyway, there was one other thing I wanted to say about 00:41:14.280 --> 00:41:21.320 this. And that's just that the progressive idea is that there's systematic racism and there are 00:41:21.320 --> 00:41:27.719 these systems that oppress certain groups of people. And Bitcoin is the exact opposite of that. 00:41:27.719 --> 00:41:32.760 Nobody controls it. And so there is no systematic oppression or systematic racism in Bitcoin. 00:41:32.760 --> 00:41:38.360 Bitcoin has no idea what gender you are, how you identify, what race you are, doesn't even know 00:41:39.320 --> 00:41:44.439 what country you come from. And I can use the example of a friend of mine from Bhutan. He's 00:41:44.439 --> 00:41:52.040 a Bhutanese citizen. And there's like this stuff in the news about Bhutan is like the next country 00:41:52.040 --> 00:41:57.719 like El Salvador that's going to use Bitcoin as a currency, which is not true at all. Their 00:41:57.719 --> 00:42:02.120 government is mining Bitcoin. They supposedly have 8,000 Bitcoin or something like that. 00:42:02.120 --> 00:42:08.199 But citizens have no ability to get it. I don't know why, but the Bhutanese can't even 00:42:08.199 --> 00:42:11.800 interact with the credit card systems and the rest of the world. So the Bhutanese don't even 00:42:11.800 --> 00:42:18.280 have a way to get Bitcoin. So I sent him some Bitcoin just because I just think it's cool that 00:42:18.280 --> 00:42:25.719 I can just instantly send value over Facebook Messenger. I just said, hey, send me your 00:42:25.719 --> 00:42:31.639 receiving address. Boom, he got it. He sent me a screenshot of the Bitcoin. Now he has Bitcoin. 00:42:31.639 --> 00:42:36.600 It doesn't matter that he's a Bhutanese citizen. And that is equality. It's incredible 00:42:37.239 --> 00:42:43.000 equality in money that has never existed. It doesn't care about your citizenship, 00:42:43.000 --> 00:42:48.919 doesn't care about anything. Yeah, love it. For me, I think the answer is that, 00:42:50.199 --> 00:42:54.840 how does Bitcoin make it better? It's like immediately goes to the Cantillon effects for 00:42:54.840 --> 00:43:05.479 me or however you pronounce Cantillon. I think that's French and I think he was Irish, but 00:43:06.280 --> 00:43:13.560 whatever. It's kind of the same thing. I'll just say Cantillon. The Cantillon effects basically 00:43:13.560 --> 00:43:21.320 say whoever's closest to the new money, the new money printer gets access to the new money first. 00:43:21.959 --> 00:43:28.360 And because of that, they get to spend that money first, but they have to go through the process of 00:43:28.360 --> 00:43:33.399 organizing budgets and getting contracts and breaking ground and building and spending. 00:43:34.360 --> 00:43:42.439 It's a whole cycle that slows down how the money makes it to the next closest circle of influence. 00:43:43.080 --> 00:43:49.479 Now you just play that through and each time somebody gets more money, they can then afford 00:43:50.199 --> 00:43:56.600 the next best greatest thing that they were going to buy. So they bid up prices. And when you bid 00:43:56.600 --> 00:44:01.080 up prices, that's what inflation is. So the inflation is working its way through the economy. 00:44:01.719 --> 00:44:07.000 And then by the time the new money gets to the people who are the most disenfranchised, 00:44:07.000 --> 00:44:14.360 the most homeless, the most disconnected from abilities to make work or not make work, but 00:44:14.360 --> 00:44:21.879 make money, do work and make money. By the time the new money gets to them, not only is it 00:44:21.879 --> 00:44:26.919 significantly less because everybody took a cut along the way. So there's hardly any money that 00:44:26.919 --> 00:44:32.760 gets to them if it gets to them at all. There's also inflation that they now have to deal with. 00:44:32.760 --> 00:44:40.520 So it's almost like a slap in the face. And you can think about this very practically, 00:44:41.239 --> 00:44:46.520 which is, well, all the money inflates. The only way, you know, before Bitcoin, 00:44:46.520 --> 00:44:52.360 the only way that you could save money was by hard assets. For most people, 00:44:52.360 --> 00:44:57.639 the only accessible hard asset you could get was buying a house. Sure, you could do gold, 00:44:57.639 --> 00:45:03.560 but you're going to run into all sorts of problems that they've gone over ad nauseum. 00:45:03.560 --> 00:45:10.199 For most people, the best way to save would be to buy a house. Okay, but what does it cost to buy 00:45:10.199 --> 00:45:15.639 a house? It's like $400,000 on average anywhere in America or average for America, which means 00:45:15.639 --> 00:45:22.760 you're going to have to pay something like a $3,000 monthly payment. So for anybody to save 00:45:22.760 --> 00:45:28.600 any money, they essentially are, if you can't do the $3,000 payment, you're precluded from 00:45:28.600 --> 00:45:35.959 saving any money. Right? That's where you get this crazy welfare cliff. That's where you get 00:45:35.959 --> 00:45:42.760 the crazy, like, oh, well, you're just completely precluded and then you have to, by time preferences, 00:45:42.760 --> 00:45:47.399 I need to make decisions about my survival because I don't have the money. I don't have 00:45:47.399 --> 00:45:50.760 the backstop. I don't have the savings or anything else that allows me to participate 00:45:50.760 --> 00:45:55.879 and make quality wise decisions. Instead, I need to sleep with this person or I don't have a place 00:45:55.879 --> 00:46:05.159 to sleep. Right? It's like a messed up system. Now with Bitcoin, anybody who's homeless or 00:46:05.159 --> 00:46:12.439 otherwise can immediately start saving money without any other pretext or any other 00:46:13.399 --> 00:46:19.000 requirements to get there. And that just completely levels the entire playing field. 00:46:19.000 --> 00:46:24.679 The person who's homeless has the same access to the money as the person who is literally 00:46:24.679 --> 00:46:30.120 the insider at the top of the game, worth hundreds of millions. It's just a 00:46:30.120 --> 00:46:36.280 completely even playing field. Yeah. And I think one of the ironies of the Biden 00:46:36.280 --> 00:46:41.800 administration was that it was intended economically to bring a more level playing field. 00:46:41.800 --> 00:46:47.479 And what he did by printing $10 trillion, and Trump did too, right? It's not really a partisan 00:46:47.479 --> 00:46:51.320 thing, but Trump wasn't trying to level the playing field in the same way. Basically since 00:46:51.320 --> 00:46:55.560 08, we've had a blanket print as much money as possible. It's not really a Republican Democrat 00:46:55.560 --> 00:46:59.800 thing. Why I find it ironic with the Biden administration was that the intention was 00:46:59.800 --> 00:47:05.399 to level the playing field. But specifically because of the Cantillian effect with 25% 00:47:05.399 --> 00:47:10.120 inflation in four years, the things that inflate the most are the things that are closest to the 00:47:10.120 --> 00:47:14.840 money printer, which are houses. It's the number one way that the money printer gets money into 00:47:14.840 --> 00:47:22.280 the American economy. It makes the middle class feel wealthier nominally, education, healthcare. 00:47:23.080 --> 00:47:29.560 These are where the costs go up the most, car insurance. So the costs rise faster for 00:47:29.560 --> 00:47:35.959 the lower and lower middle class, everyone who doesn't have an asset. And the felt wealth 00:47:35.959 --> 00:47:40.840 are everyone in the asset class. You go from low middle upper class to asset class, 00:47:40.840 --> 00:47:46.040 non-asset class. And the divide that we saw over that same time period between the asset class and 00:47:46.040 --> 00:47:52.760 the non-asset class is the one that got the biggest. It grew dramatically. And that's the 00:47:52.760 --> 00:47:58.439 devil of it, right? So how does Bitcoin immediately fix that? Very hard to say. How does it fix it 00:47:58.439 --> 00:48:05.800 over time? It prevents the inequality gap between asset class and non-asset class from happening 00:48:05.800 --> 00:48:10.360 because everyone's in the asset class at all times. It takes away the ability of the government 00:48:10.360 --> 00:48:19.080 to drive that wedge between rich and poor. I was going to say, as far as that goes, 00:48:20.679 --> 00:48:25.239 a few years ago, if you wanted to have the asset, you had to buy a house. 00:48:25.959 --> 00:48:34.040 And that was impossible for some people to buy the house. And so they're saving and then the asset 00:48:34.040 --> 00:48:41.719 price goes up. After all that saving, the house is even further away from them than it was before. 00:48:41.719 --> 00:48:46.360 And so they keep saving and then the asset goes up and it's even further away from them. So as 00:48:46.360 --> 00:48:52.280 they're saving, this idea of buying a house, buying this asset is becoming more and more impossible. 00:48:53.159 --> 00:49:00.280 Bitcoin lets you buy fractional amounts. And so as you're putting your money into Bitcoin, 00:49:01.000 --> 00:49:07.320 even if you're just putting in $10, $15, $25 at a time, you are getting a piece of the asset 00:49:07.320 --> 00:49:13.479 that is going up because even with the Cantillon effect, that money also goes into the value of 00:49:13.479 --> 00:49:24.919 Bitcoin and more so as time goes on. And the Cantillon effect is just one of the items. 00:49:25.479 --> 00:49:31.800 Another item would essentially be the education that comes when trying to understand Bitcoin, 00:49:31.800 --> 00:49:36.199 because as everybody experiences when they do their first Bitcoin transaction, 00:49:36.199 --> 00:49:42.439 it literally breaks your mind. Everything you thought that was the way that systems 00:49:42.439 --> 00:49:48.199 could function, when you encounter Bitcoin, it does not fit into any of the molds that you've 00:49:48.199 --> 00:49:56.600 known to exist. Until you send a transaction, you do not know how to think about it really. 00:49:57.159 --> 00:50:01.560 And because that breaks your mind, so you have to figure out, or I mean, you don't have to, but 00:50:02.439 --> 00:50:05.959 in many cases, people will then sit down and be like, wait a second, 00:50:07.000 --> 00:50:09.879 I don't understand what I just did. I need to figure this out. 00:50:10.280 --> 00:50:20.360 And then it turns into this, I got to get educated about what is this? How do I protect this? 00:50:20.360 --> 00:50:27.159 How do I steward this well? Because how do I understand this? You have to start asking and 00:50:27.159 --> 00:50:30.840 answering all these questions. And a lot of those questions lead a lot of people down the rabbit 00:50:30.840 --> 00:50:38.120 hole of, wait a second, what I thought was communism or what I thought was capitalism, 00:50:38.120 --> 00:50:44.120 those are actually just totally reversed. I was completely wrong about that. Or what I thought was 00:50:44.120 --> 00:50:50.919 helpful was actually just harmful to hundreds of people because all of the structures and all of 00:50:50.919 --> 00:50:57.639 the values in our civilization are completely flipped on their head. And Bitcoin forces you 00:50:58.199 --> 00:51:04.760 to actually connect reality with the truth and value and go through that process of understanding 00:51:04.760 --> 00:51:10.360 all this stuff. Okay, well, what's going to happen as a result of that? Well, you're going to start 00:51:10.360 --> 00:51:15.159 to see people not, they're going to start to get to root solutions to problems because they're all 00:51:15.159 --> 00:51:21.239 going to be on the same page about what the actual problem is and how to solve it. So we got, oh, 00:51:21.239 --> 00:51:26.360 we got root solutions now as opposed to just kick the can down the road because we can't afford that. 00:51:26.360 --> 00:51:32.040 And everyone knows that it's a total fucking lie. So we shouldn't do that. It's politically 00:51:32.040 --> 00:51:38.360 and economically and every other itty, like just infeasible. And we just can't do that anymore. 00:51:38.360 --> 00:51:44.600 And everyone knows it. So there you go. That's good. Can I, this might be a little bit of a 00:51:44.600 --> 00:51:50.120 a little bit of a rabbit hole, but I'm fascinated by this in the Christian community as well, 00:51:50.120 --> 00:51:54.439 because we rip on commies a lot. And as we should, they deserve to be ripped on. But I'm curious 00:51:54.439 --> 00:51:59.320 about this in the Christian community because there's this idea of what you do as a Christian 00:52:00.280 --> 00:52:03.639 and it's informed by your eschatology, like what you think of the end times. And we don't have to 00:52:03.639 --> 00:52:07.800 go far down that rabbit hole. But this idea of dispensationalism is about a hundred years old, 00:52:07.800 --> 00:52:11.399 150 years old, maybe this idea that the whole world's going to go away in a rapture. It's all 00:52:11.399 --> 00:52:15.879 going to burn up. And then everyone who's accepted Jesus Christ as their Lord and Savior, 00:52:15.879 --> 00:52:22.360 Savior flits away to a far off heaven. If you follow that logically back to today, 00:52:22.360 --> 00:52:27.479 the only thing of value that you can do as a Christian on earth is to make another Christian. 00:52:27.479 --> 00:52:33.800 That's it. If everything else on earth burns up, if there's nothing else eternal that you do, 00:52:33.800 --> 00:52:38.679 that becomes your entire value proposition. I personally think that that mindset, 00:52:38.679 --> 00:52:43.159 which has completely taken over American Protestantism and it's taken over just 00:52:43.159 --> 00:52:51.959 about nowhere else ever. It basically just exists. It's a total fiat. Yeah, it's a total fiat. 00:52:51.959 --> 00:52:57.080 That's what I'm saying. I think that mindset among the Christian community has been 00:52:57.080 --> 00:53:01.959 allowed to happen because we're in a fiat system where generally things are not made with quality 00:53:01.959 --> 00:53:06.679 and increasingly are made without quality. So generally they do pass away. It's kind of a 00:53:06.679 --> 00:53:14.600 logical thought, right? We keep trying to fix the problem of the issue of degrading culture 00:53:14.600 --> 00:53:21.800 by evangelizing people to American Southern Baptism. Evangelizing people to exit culture 00:53:21.800 --> 00:53:28.040 entirely. Literally, we're telling them, become a Christian so that you cannot care about anything 00:53:28.040 --> 00:53:32.919 that's going on with culture. Then 50 years after we implemented that strategy, we're like, 00:53:32.919 --> 00:53:38.040 why is culture so far away from us? Why are you so far away from culture? I don't believe you 00:53:38.040 --> 00:53:43.879 were ever called to disengage that entirely. So that to me is the Cobra problem on our side, 00:53:43.879 --> 00:53:50.760 right? To call it out on ourselves. That's the one that really bothers me. I think Bitcoin forces 00:53:50.760 --> 00:53:56.360 you to recognize the physical reality that is also God-breathed, right? I think we'll start 00:53:56.360 --> 00:54:03.159 to unwind that mindset naturally. Absolutely. It kind of touches on the idea of with the measure 00:54:03.159 --> 00:54:10.840 you use, it will be measured back to you. If your measure is just like, well, everything's broken, 00:54:10.840 --> 00:54:18.120 none of this matters. The thing that matters is just evangelizing the lost. Well, the only 00:54:18.120 --> 00:54:21.800 measurement there is the number of evangelists or the number of people you evangelize. 00:54:22.679 --> 00:54:26.840 That's the success measure. Yeah. Yeah. So what's going to happen is that your success 00:54:26.840 --> 00:54:33.719 will be measured and you'll have more people evangelize, but evangelism, it will be returned 00:54:33.719 --> 00:54:39.800 to you in the same way that you measured it, right? Instead of the quality of the evangelism, 00:54:39.800 --> 00:54:45.719 you'll get the quantity of the evangelism that you wanted. The results will be 00:54:46.280 --> 00:54:49.000 culture falling apart, right? It's just unbelievable. 00:54:52.040 --> 00:54:55.080 Anton, do you have thoughts on the Christian perspective? 00:54:55.080 --> 00:54:58.840 Yeah. I mean, my last thought on that, just going off of what Corey said, is that 00:54:59.719 --> 00:55:05.639 it's kind of two sides of the same coin. So you have in America, what you're describing, Corey, 00:55:06.199 --> 00:55:12.679 you have this dumbing down of culture, an escape from culture, an escape from the things beautiful. 00:55:13.639 --> 00:55:18.280 It's like, it's still Christianity, but it's the polar opposite of like, if you go to Europe and 00:55:18.280 --> 00:55:23.879 go to cathedrals and look at the art there and look at the architecture. And you look at that 00:55:23.879 --> 00:55:29.560 and you're like, something was going on during this time period. This is incredible. 00:55:29.560 --> 00:55:34.120 Something was going on during this 150 years to build this thing. 00:55:35.000 --> 00:55:39.080 Yeah, exactly. Yeah. Yeah. Yeah. There were literally multiple generations 00:55:40.040 --> 00:55:44.120 building this thing. The people who started it didn't even get to see the finish of it. 00:55:44.120 --> 00:55:48.679 And maybe their grandchildren didn't get to see the finish of it. So that's beautiful. 00:55:50.040 --> 00:55:56.360 But then now there's a massive amount of secularism in Europe and there's a lot of atheism. 00:55:57.800 --> 00:56:02.520 And then you have, or you have like a country like Albania, you'd have to look this up, but 00:56:02.520 --> 00:56:07.959 I want to say it's the most atheist country to ever have existed. It had what was essentially 00:56:07.959 --> 00:56:11.719 a communist dictator. I think they burned down over 2000 churches. It's technically 00:56:11.719 --> 00:56:16.360 more of a Muslim country, but it still is very, very secular and very non-religious. 00:56:16.360 --> 00:56:21.560 And it's all the same thing. It's all fiat. Fiat is what essentially destroyed culture. 00:56:21.560 --> 00:56:28.760 And we are going to see this circle come back and Bitcoin is going to drive that. And you see it 00:56:28.760 --> 00:56:35.879 like in the Bitcoin community, there are so many people who are focused on creating things that 00:56:35.879 --> 00:56:43.000 are going to last multiple generations. They have a low time preference. We are preserving value 00:56:43.000 --> 00:56:47.080 for our children's children. And we're very conscious of it, that Bitcoin is this thing 00:56:47.080 --> 00:56:53.399 that can't be destroyed. And the value is going to go up. The number is going to go up. And we 00:56:53.399 --> 00:56:59.320 have no idea when that's going to be, but we're confident in it. And so we are slowly, whatever 00:56:59.320 --> 00:57:06.679 your strategy is, if you're dollar cost averaging and if you're just working your job and saving in 00:57:06.679 --> 00:57:14.520 Bitcoin, you just know that you're preserving that wealth for future generations. And yeah, 00:57:14.520 --> 00:57:20.120 somehow this is all related to Christianity. Well, I mean, going back to what I think JD was 00:57:20.120 --> 00:57:25.639 talking about earlier, which is this idea that like, oh, well, we had the thing that mattered 00:57:25.639 --> 00:57:31.719 was that, like for other generations, was that it existed at all. Then it was like 00:57:31.719 --> 00:57:37.000 the quantity mattered a lot. And then the quality matters for us. 00:57:37.959 --> 00:57:41.479 But you kind of, that kind of harkens back to this other idea of 00:57:43.959 --> 00:57:50.760 good, fast, or cheap. Choose two, because you can only choose two. If you choose good and fast, 00:57:50.760 --> 00:57:55.080 it's not going to be cheap. But if you choose fast and cheap, it's not going to be good. 00:57:55.879 --> 00:58:00.600 You can only choose two under that paradigm. Of course, it's a simplification, but it's 00:58:00.600 --> 00:58:07.639 a useful simplification. In a fiat-denominated world where your money always loses value over 00:58:07.639 --> 00:58:13.560 time, you try to build a new house, for instance, that new house is going to cost you 00:58:14.520 --> 00:58:21.639 a lot of time to build. Therefore, if your currency is being devalued, the house is going to 00:58:21.639 --> 00:58:28.520 cost you more if it's not built fast. And that kind of applies to everything in the entire economy 00:58:29.080 --> 00:58:35.000 at various levels, because all inputs and outputs take time to produce. So everyone always chooses 00:58:35.000 --> 00:58:42.199 fast. Now, they'll then have to choose either good, fast and good, which means it's super 00:58:42.760 --> 00:58:47.320 expensive, or they'll have to choose fast and cheap, which means it's not good. 00:58:49.239 --> 00:58:54.439 And you can kind of see, well, that explains our culture. We have, essentially, very few things 00:58:54.439 --> 00:59:00.600 that are really, really good that very few people can actually afford. And then, by and large, 00:59:00.600 --> 00:59:05.239 everything else is just fast and cheap, and it just gets faster and cheaper, because everything 00:59:05.239 --> 00:59:13.800 is predicated on efficiency. Safening talks about it in the fiat standard, or the Bitcoin 00:59:13.800 --> 00:59:18.840 standard. All the new inventions, all the quality inventions, all happened over 100 years ago. 00:59:18.840 --> 00:59:24.360 And since then, we've just been pushing on the efficiency. Make it go faster. Make it go faster. 00:59:24.360 --> 00:59:27.959 Make it go faster. Make it faster. How do we produce this faster and more efficiently? 00:59:28.919 --> 00:59:38.040 Okay, so under a Bitcoin world, we no longer have to choose fast. And everybody who's into Bitcoin, 00:59:38.040 --> 00:59:43.719 has the low time preference, understands. Actually, choosing fast might be a problem. 00:59:43.719 --> 00:59:50.199 It actually might harm me, because if I get that house done as fast as I can, and I spend my 00:59:50.199 --> 00:59:58.840 Bitcoin on the fast house, and it's poor quality, it's not going to retain its value as much as a 00:59:58.840 --> 01:00:06.760 house that's a high-quality house. So, it immediately changes the dynamics of how people 01:00:06.760 --> 01:00:11.959 think about how they interact with reality, and how they create culture. They get to now choose, 01:00:12.520 --> 01:00:16.600 do I want it to be fast? Do I want it to be good? And everybody gets to choose, 01:00:16.600 --> 01:00:19.159 do I want it to be fast? Do I want it to be good? Do I want it to be cheap? 01:00:19.879 --> 01:00:25.239 And the outcome of that is that we're going to see a heck of a lot more things that are actually good, 01:00:25.879 --> 01:00:29.239 that are beautiful, that are true, that resonate with people, 01:00:29.239 --> 01:00:33.719 that last a long time, that are high quality. You know, it's going to be awesome. 01:00:36.120 --> 01:00:38.439 I agree. That's good. Yeah, that was awesome. Yeah. 01:00:39.639 --> 01:00:43.000 Right. I mean, that's also an hour. We could cut it off there, if you guys don't have anything else. 01:00:43.000 --> 01:00:44.120 Yeah, absolutely. 01:00:44.120 --> 01:00:45.959 Final thoughts, Anton, Corey? 01:00:45.959 --> 01:00:53.479 The only thing I'd add to that is that the value proposition under a fiat world has to be money. 01:00:54.120 --> 01:00:58.600 What's beautiful about what you're saying, Bondor, is the value proposition for an individual 01:00:58.600 --> 01:01:02.919 has money somewhere, but for the majority of humans, money is not the top of their value 01:01:02.919 --> 01:01:09.239 proposition. So, for an individual who wants to build a house, they would rather build a strong, 01:01:09.239 --> 01:01:14.919 sturdy, beautiful, enduring house for their family than they would have the marginal extra dollars 01:01:15.000 --> 01:01:21.000 of, you know. So, when the costs come down under a Bitcoin standard to meet that, 01:01:21.000 --> 01:01:27.239 then you get to see the individuality of people's value feed through into the goods, 01:01:27.239 --> 01:01:33.080 into the architecture, into the culture in a way that they've been flattened by forcing money 01:01:33.080 --> 01:01:37.080 and speed and efficiency to the top of everyone's priority list, artificially 01:01:37.879 --> 01:01:42.199 forcing it to the top of their priority list. And that's not where it should be. It's not where 01:01:42.199 --> 01:01:42.919 it normally is. 01:01:43.639 --> 01:01:49.800 And just as a gut check, you actually see it in the architecture, like architecture or any, 01:01:49.800 --> 01:01:57.560 like go to any place that has like any downtown. Yeah. It's ridiculous. You basically look at 01:01:57.560 --> 01:02:04.760 the architecture for anything that was built over 115 years ago, and it has these intricate 01:02:04.760 --> 01:02:11.399 ornamentation and the stone and the staircases. It's like gorgeous, beautiful stuff. And as you 01:02:11.399 --> 01:02:18.280 go forward in time, like the Bauhaus kind of art, like design, ultra minimalist, A-frame, like 01:02:18.280 --> 01:02:26.120 just the, all of the ornamentation just kind of exits and you get to the, you know, you get to 01:02:26.120 --> 01:02:32.600 our modern office building, which is literally just a sheet of glass and concrete floors, right? 01:02:32.600 --> 01:02:36.520 Like there's absolutely, and they're like, oh, we're going to do a pointed roof. 01:02:37.239 --> 01:02:42.360 Ooh, that's, ooh, that's, uh, that's some ornamentation there as opposed, it's like, 01:02:42.360 --> 01:02:46.600 bro, there's, it's like literally just a flat sheet of glass. Like there's, there's absolutely 01:02:46.600 --> 01:02:53.959 nothing interesting or intricate or human scaled about any of it. It's just as cheap and as fast 01:02:53.959 --> 01:03:00.199 as we can go. So any of that, all of that goes out. We get to see the ornamentation again, 01:03:00.199 --> 01:03:05.239 we get to see the individual, the individuality of it, like someone's perspective they can 01:03:05.239 --> 01:03:11.320 actually afford to produce their perspective of reality in reality, whereas they couldn't before. 01:03:11.320 --> 01:03:17.239 It was just, you got to do the A-frame or whatever. It's going to be awesome, man. So, so stoked. 01:03:17.239 --> 01:03:17.719 Can't wait. 01:03:19.560 --> 01:03:23.239 And I want to say, I want to say one, one last final thing about this. 01:03:24.520 --> 01:03:29.239 Let's say that you want to, so Altadena here in Los Angeles, just burnt down. Let's say you want 01:03:29.239 --> 01:03:34.600 to build a house. Well, if you don't do it quickly, the cost to build that house could be double 01:03:34.600 --> 01:03:39.959 next year. And so the, if you want to build a house, you're like, I got to build it now. Well, 01:03:39.959 --> 01:03:45.719 if you have to build it now, you have to build with, with what you have. And you are, you can 01:03:45.719 --> 01:03:51.959 be sure that that style of architecture is not going to be a popular style 30 years from now. 01:03:51.959 --> 01:03:54.919 You don't even know if the house is going to last 30 years, but what does it matter? 01:03:55.800 --> 01:04:02.840 Well, if you put your money in Bitcoin, you can be sure that over the next year, two years, 01:04:02.840 --> 01:04:10.120 five years, the value of what you put into Bitcoin is going to 4X, 10X, 100X. If you can wait, 01:04:10.919 --> 01:04:15.959 you will be able to build classic architecture. You can take the time to think it through. 01:04:16.520 --> 01:04:22.360 You can build a house that is going to be valuable a hundred years from now, because it, it is this 01:04:22.360 --> 01:04:26.760 classic architecture. That house to build now is going to cost you millions and millions of dollars. 01:04:26.760 --> 01:04:33.800 You do not have the ability. Bitcoin is going to give people with the patience and understanding 01:04:33.800 --> 01:04:40.120 to put the value of their toil into Bitcoin. It's going to give them the ability to build things 01:04:40.120 --> 01:04:47.080 that last. And that's beautiful. Love it. Correct. All right, guys, we should call it there. 01:04:48.040 --> 01:04:54.439 Thanks for coming on. This is Better By Bitcoin. Thanks for listening at home, everybody. Peace. 01:05:02.679 --> 01:05:06.919 Thanks for tuning in to Better By Bitcoin. Bitcoin makes everything better. Like, 01:05:06.919 --> 01:05:12.199 subscribe, and follow us on X at BetterBYBTC, YouTube at BetterBYBitcoin. 01:05:12.199 --> 01:05:19.239 Not financial advice. Mathematical certainty.