0:10 - Welcome to Wednesday Night Live
2:36 - Dating and Partner Choices
2:42 - Bitcoin and Global Trends
4:56 - The Titanic Analogy
8:43 - The Financial Paradigm Shift
10:10 - The Illusion of Stability
12:49 - Panic and Financial Awareness
14:34 - The Rise of Bitcoin
17:12 - Retroactive Slavery and Fiat
17:50 - The Great Heist of Fiat Currency
19:59 - The Risk of Fiat vs. Bitcoin
21:07 - The Titanic vs. Blockchain
34:42 - Use It or Lose It
36:55 - The Stampede for Bitcoin
47:48 - The Austrian School of Economics
51:57 - The Shift in Economic Power
57:26 - Closing Thoughts and Community Engagement
The Radio Show for December 4th, titled "Wednesday Night Live," dives deep into various topics about relationships, parenting, economics, and the future of Bitcoin. The host begins with a question from a listener concerning her 18-year-old daughter who is seeking a partner from the free demand community. This community is characterized by principles of peaceful parenting, libertarian values, and a solid moral framework. The host provides insights into the economics of dating, suggesting that increased visibility and demand can lead to better partner options. The metaphor of supply and demand from economics is employed to explain dating dynamics, emphasizing the importance of becoming prominent to attract quality mates.
Transitioning smoothly into a discussion about Bitcoin, the host mentions recent comments from Vladimir Putin who remarked that Bitcoin cannot be stopped. The conversation reflects on Bitcoin's adoption trajectory, comparing it to the early internet between 1990 and 2005. The host highlights that Bitcoin's current stage of adoption is still nascent and parallels the explosive growth seen in early internet adoption. As the economic landscape evolves, theories and concepts surrounding currency, investment strategies, and the fundamentally shifting financial paradigms come into play.
A key point discussed is the perceived safety of conventional investments like stocks and bonds. The host warns against complacency, using an analogy of the Titanic: just as passengers initially believe they are safe, many investors trust their savings will grow with traditional financial strategies. The host cautions that the belief that these strategies will invariably work is a dangerous misconception. As fiat currency begins to demonstrate instability, people may panic, a concept that is explored by paralleling historical economic collapses.
Drawing attention to the perils of fiat currency, the host expands on the idea that inflation effectively robs individuals of their savings, thus creating a sense of retroactive slavery through economic deceit. This discussion deepens into a reflection on the holistic economic systems at play, discussing how traditional fiat-based economies can devolve into tyrannical systems that lose sight of individuals' rights and interests.
As the conversation unfolds, the host presents Bitcoin not as a risky investment, but as a viable lifeboat from the impending collapse of fiat economies. The analogy speaks to the urgency with which people need to act to safeguard their assets. Drawing the audience's attention to the rapid economic changes taking place globally, the host posits that Bitcoin presents a unique opportunity to preserve wealth against the decay of traditional financial systems.
The discussion weaves various historical examples and personal anecdotes into the narrative, emphasizing the long-term impacts of monetary policies and inflation. The host connects the rise of Bitcoin to a meta-narrative about morality and intelligence in wealth accumulation, arguing that for the first time, resources are being controlled by non-sociopathic entities. This notion of a “golden age” facilitated by Bitcoin aligns with a vision for a new, equitable economy.
The latter part of the show includes listener engagement with comments highlighting various perspectives on Bitcoin, inflation, and traditional economies. The host emphasizes the importance of community support and invites further interaction with the audience, showcasing their eagerness to facilitate deeper conversations on these critical topics.
Wrapping up, the host reiterates the transformative potential of Bitcoin, stressing that it represents more than just a novel asset; it symbolizes a larger cultural and financial liberation from the entrapments of fiat systems. With this framing, "Wednesday Night Live" not only educates its audience about the mechanics of relationships and economic strategies but also inspires them to consider the broader implications of their financial choices in a rapidly evolving world.
[0:00] Good evening, good evening. Welcome to Wednesday Night Live on this year of our Bitcoin, December the 4th, and it is just after 7 p.m.
[0:11] Let's get straight into it. Lady says, my daughter is interested in finding a partner from the free demand community because they will have been vetted for peaceful parenting, a libertarian philosophy, and a rigorous moral backbone. She is 18, and though she doesn't have a lot of time to have four kids, has had no previous partner has no post-secondary debt to hinder her future partner and has taken a prenatal vitamin since she was 16. With an eye for healthy, happy children, how do you suggest she get the word out? What can I do to help? That's a great question. And I do get the question of sort of how to meet people a lot. And in general, the best, so it's a supply-demand question. It's sort of a question of economics. It's a supply-demand question. So, the best way to get the greatest choice of partners is to be as prominent as possible so that you are in demand, right? So, I hate to put it in this course of terms, but dating follows the same laws of economics as a whole, that the more buyers you have, or the more potential buyers you have, the higher price you can.
[1:21] Command, which is why women and men put on sexual displays. So women and men put on sexual displays, women generally flesh, men generally resources, so that they get high demand, and that way they have more people to choose from, and when you have more people to choose from, you hopefully can make a better choice. Doesn't always happen, of course, but generally that's the idea. If you have 10 job offers, you're probably going to get a better job than if you have only one job offer, or of course zero job offers. You don't get a job at all. If you've ever been involved in selling a house, what you want is a bidding war. And you want a bidding war so that you can get the highest price. So increasing demand is usually the best way to get the highest quality mate. And the best way to increase demand is to become prominent. You don't want to put on additional sexual displays with regards to men or women, because then you might get people only interested in you for the sexual display. For men, it would be only interested in the woman for sex. For women, it would be only interested in the man for resources. So, generally, the prominence in some sort of quality area is the way to go.
[2:29] All right. Good evening, good evening.
[2:36] What other questions do we have? Yeah, we will talk about Bitcoin.
[2:43] The side view is a fine view. Yes, yes, yes. Hello, Stef-Underful. Well, I appreciate that. I appreciate that. Weren't you Al Gore tattoo before? No, you're Al Gore. Well, well. All right. So that would be my suggestion with regards to that. And regarding the itty-bitty ditty coins, well, yes. Things are going fairly well, to put it mildly. So, Vladimir Putin has said that Bitcoin can't be stopped. The Bitcoin, if you go from sort of 1990 to 2005, the internet went from almost nobody to about 1.1 billion people from 1990, in a 15-year period, from 1990 to 2005.
[3:36] Now, depending on when you start, of course, the internet was around before 1990, but 1990 is when it really began to become well-known in public consciousness. So if you start from when that began to happen for people, and you look at the sort of nine-year period or 10-year period, which is 2014 to 2023, of course, numbers aren't in for finally, Bitcoin versus internet adoption. The Bitcoin adoption is following the internet adoption, but of course it has a lot further to go right so if i put this up uh yeah oh my gosh let's do low tech uh sharing here right so this is bitcoin the the gold is bitcoin of course and the black is the internet adoption right so we're still very early when it comes to bitcoin adoption but it is following the same path as the internet.
[4:39] So, Putin says, no one can stop Bitcoin, but anything could happen with the US dollars, the US dollar. The tipping point happens, it's a mindset tipping point, and it's going to be wild when it happens.
[4:57] And I've used the analogy before, so I'll just touch on it briefly here. The analogy, of course, is when you first hear that jolt in the Titanic, you think everything's fine. Maybe just hit a little burg or something, or if there's a hole, it'll be patched, or the bulkheads will seal, and so on. And then people get a little more uneasy, a little more uneasy, and then all of a sudden they act, right? So that buildup of uneasiness is really important. For those of you who are, I guess, a little older, prior to GPS, I mean, there was a place, I think it was called MapQuest or something, and when I was in the business world, there was a guy who gave me such specific, he was one of our salespeople in the U.S., so I'd come down to do a sales call, or to assist, I suppose, to support. I would do the presentation, I would answer the technical questions. He gave me such specific instructions, I was absolutely certain that he had driven the route the night before, like he was that conscientious and.
[5:55] Diligent. And if you've ever driven in the past, when somebody would say, do this, do that to the other. And then, you know, you go four streets and then Pine Avenue is on your left. And if you hit the gas station, you've gone too far, right? That this would be sort of the instructions that you would get. A friend of mine delivered pizza in a car, I guess, 40 years ago and had a hell of a time. You really had to. I mean, it's like being a London taxi cab driver following the lower intestine path of London streets and so on. So if you were driving and you had some instructions kind of jotted down, you would be like, oh, did I pass the gas station? Maybe I did pass. And you'd get this uneasy feeling, right? But you'd plow on driving on because you wouldn't, this happens with hiking sometimes too, but you'd plow on because you get this kind of uneasy feeling and you wouldn't want to turn around too soon because turning around means you're going to add another 20 minutes, because you could find someone, get instructions.
[6:59] And, you know, people always give you these rapid fire instructions, and you have that choice of like, okay, do I ask them to repeat it? Do I think I've got it? That kind of thing. So you're driving and driving, and you get this growing sense of unease. And then you turn around, right? Oh, my. And then you find out it's ridiculous. Because what you're doing is you're saying, okay, well, if I turn around now, and I'm just about to get there, I've added 20 minutes. But if I keep driving, I'm adding half an hour, because I've got to turn around, drive all the way back, get more instructions, and so on, right? And then when you're driving back.
[7:27] Then you have to do your instructions in reverse, right? In your head, right? I mean, I remember when I was in the business world, I was doing a presentation at a company with very, very, it's a very big company with very, very tight security, and I had not brought my ID with me. And so they were like, well, go back, drive back to the home, grab your ID and come back. And they were like, do you know how to get there? I'm like, eh. And then so fortunately someone came along and drove me back to the hotel and it was actually a very successful presentation. We ended up selling that deal, but I'm not particularly good with directions. So what happened for me, like I grew up with buses and subways, right? So buses and subways, what happens is you just zone out. You don't notice, you read, right? In general, I would read on the bus or the subway. The subway in particular is like hyperspace. The city is a series of bubbles that you don't know anything between, because you just go underground, you go through hyperspace, and you pop up somewhere. And when I was driving, I'd be constantly like, oh, this connects to this, when I first got a car in Toronto. So, sorry for the long explanation, but...
[8:44] What's going to happen is people think that the existing financial paradigm is the secure, is the familiar, is the safe, right? So, you've got your bonds, you've got your stocks, maybe a couple of GICs, and your savings, maybe a bit of gold, maybe some real estate, you know, your general, you know, you got to have a bunch of stuff. There's a Harry brown formula, 25% stocks, 25% bonds, 25% gold, 25% cash. So it's like, well, you know, you don't want to put all your eggs in one basket. You got to share your risk in some foreign, some domestic, some whatever, some high risk, some medium risk, some low risk. And there's this sense that you have a safe investment strategy based upon what is and what has worked, right? You might dollar cost average into the top 100 stocks. You've got some formula that is fairly stable, fairly secure. And it really has been the case over, say, the last 100 years, that even if you bought stocks right after a crash, sorry, right before a crash, you bought stocks right before a crash, you'd still make money over a long enough time period, right? So there is a sense of, you know it's been it's been choppy seas but in general things kind of flow.
[10:10] In the right direction and the future looks like the past right that is one of the big biggest and most tempting like none of this is financial advice or investment advice so you know just my thoughts on the market and people's thinking do your own research don't take anything I say as any reason to buy or sell anything. But, the great peril of investing is to think that the future looks like the past, which is a reasonable assumption until it doesn't, right? It's a reasonable assumption until it doesn't. So, of course, one of the big problems with the Titanic, and it was one of these analogies that just turned out to be too perfect for words, is the ship was built to be unsinkable, and it might have been if a lot of people opposing the Federal Reserve went on board. So, The perception is it's unsinkable, and so people feel that it's safe because they've been told it's unsinkable. Now, people, of course, have, the older you get, the more you realize how much your money has been democracy gang-raped into atoms, and that's rough to see, right? Putting your money in the bank is, you might as well just set fire to, you know, 5% to 8% of it every year.
[11:37] So, people have a sense that the future is going to look like the past. And what has worked in the past is going to work in the future. Or, at the very worst case scenario, there are going to be incremental gains in the future, incremental changes. but in general things are going to rise and things are going to go in a generally ragged line upward direction. That is false. That is false. Historically you've got 100 to 250 years at the very outside edge you could talk about the British pound which is 400 years but again 98-99% of its value has been democracy democra raped away. So I'll see you next time.
[12:22] Once people understand that the past is no longer a relevant guide to the future, once they realize the Titanic is sinking, that's when the panic begins. That's when the panic begins. So, it's kind of like this. Depending on when you panic, and panic is a very, very, very underrated emotion.
[12:50] Panic is, Oh, it's panic selling. Oh, it's panic buying. It's like, yeah, that's really good sometimes, right? So for instance, if you think, well, I've got a certain spot for me and my family on the lifeboats and we've got an hour and a half to get there, everything's going to be fine. Then what do you do? Well, you go down to your cabin and you get all of your artwork and you get your wallet and you get your books and you get your jewelry and you get everything and you make sure you leave nothing behind, maybe even take a little bit extra since it's going to the bottom of the ocean anyway, might as well take a tablecloth or two. So you go down to your room and you gather up all of this stuff and you take an orderly, keep everyone in line, tell to the kids, you take an orderly walk because you've got an hour and a half and you've got a certain spot on the lifeboat. So you can take your sweet, leisurely freaking time.
[13:47] Right? However, if you are standing on a 45-degree deck and people are slashing with knives the cords that keep the lifeboats on and they're crashing down into the ocean and you are going to get sucked down with the undertow into the Titanic, into the dark, icy water where you have about, what, a minute or two minutes to live, then you are not going to go down to your cabin. You're not going to collect your jewelry. You're not going to have an orderly exit. You are going to hurl your children down into the boats and jump like hell yourself. Even if that gives you only a 10% or 20% chance of living, you're doing way better. So it really depends. So things look orderly until they don't.
[14:34] Now when people see fiat currency disintegrating and they see, that the only people who have defendable transmissible assets are those in bitcoin.
[14:53] Then the transition is going to be so rapid it will blow your mind it will blow, your mind it's going to be like the people clinging to the, helicopter pads as they pull out of Saigon at the end of Vietnam they'll hang there you see them sometimes they fall into the sea sometimes they climb up, It will be beyond comprehension how rapid it would be. Say, well, people are going to panic. Yes, they will panic, and they should panic. Because fiat will eat your life. Fiat will eat your savings. Fiat will eat your time. Fiat will consume, like, years and years and years of your life. See, fiat is retroactive slavery. Fiat is retroactive taxation, So the savings You know, I mean This was a story I read of course about The Weimar Republic When the international banksters wrecked the German economy.
[16:09] There was a man who had diligently saved his entire life And he withdrew his entire life savings He went across the street, he bought a cup of coffee, and he had to pay for it with his entire life savings. So what that meant was, let's say he'd saved, he'd worked for 40 years, he had saved half of his income, which meant that retroactively, he was enslaved for 20 years. He was an abject slave for 20 years. So slavery that is imposed retroactively can't even be fought because there's no time machine. If you're enslaved for the next 20 years, you can rise up. You can drive off or kill your enslavers. You can do all kinds of Tarantino shit, right? If you're going to be enslaved for the next 20 years, you can fight that.
[17:01] And you should, like hell. But, but, if you get enslaved for the past 20 years.
[17:13] Well, it's gone. You can't fight it because it's taken after the fact. So what's going to happen is people's savings, right? 20 years worth of savings. 20 full-time years worth of savings. I mean, they're already going to 20 years' worth of savings, 18, 16, 14, right? Years are being stolen. I mean, the modern fiat currency system is the biggest heist in human history. It's tens of trillions of dollars are being stolen.
[17:51] So what's going to happen is people are kind of used to and inured to a couple of percentage points a year, this, that, and the other right but what's going to happen and this really accelerated of course under covid with trillions of dollars of debt and money printing but people are going to see their 20 years being they got 20 years of savings oh shit 19 18 17 16 at some point they realize their savings are going to fucking zero this has happened countless times in human history, I hope and if I could pray I would that this is the last time.
[18:34] That the great Promethean God of human salvation from statism Satoshi Nakamoto came down like Prometheus gifting fire to humanity.
[18:47] Satoshi Nakamoto gifted unthievable time unstealable time You cannot be retroactively in-fucking-slaved by the fiat monstrous with Bitcoin. They can't reach back in time and steal your life and turn you from a free person relatively into a slave. In other words, having taxed away half your time, they can't tax and inflate away the other half later. So people are going to see their 20 years of savings. And I don't mean that they've saved for 20 years, I mean, they've worked for 40 years, even if they've saved half their money, which is really a quarter of their money, because it's half that's left over after taxes. People are going to see 20 years of their life, go to 1918, 16, 15, and at some point they're going to say, they're going to realize, holy shit, it's going to zero. It's going to zero, which means if I can save five, So much the better. It's five or zero. So right now, people say, well, if I throw my money into Bitcoin, well, it's highly speculative, you see.
[20:00] So I've got a sure thing here, the Titanic ain't sinking. I got a sure thing here because we've been told the Titanic is unsinkable in the economy for some reason, because people, well, not for some reason, because people aren't taught shit about anything in government schools.
[20:17] I don't want to go off on that raging tantrum. tangent tantrum oh god no it's every single time i wish i wish i had a little flamethrower to take out nose hairs so people think because they haven't been taught anything that fiat currency just goes on and on yeah there's inflation but you know my wages go up and it's kind of even even no no no no that's not even remotely true never is never has true never has been true and ever will be true of any fiat currency. The power of fiat currency, I mean, people can't handle power in general. They sure as shit cannot handle the power of infinite money and control of interest rates. I mean, they absolutely in no way, shape, or form can handle anything to do with that. Because it is the most insidious power, because not one in a thousand or 10,000 people know exactly what's going on.
[21:07] So Bitcoin is considered risky and speculative, and TradFi, fiat, phi is considered stable, right?
[21:26] And the Titanic analogy is imperfect, to put it mildly, because the Titanic was a glorious and beautifully appointed ship, and the rowboat was, you know, a piece of dirty, dusty, saltine crackers and burlap inferior, infinitely inferior vessel, but it was just the only path to survival whereas people will realize that the Titanic is not a ship but a whirlpool sucking them down forever and Bitcoin is the ultimate luxury interstellar liner, right?
[22:03] So people who missed the Bitcoin turnoff, they'll drive on and they'll be like, okay, well, I don't think that was the turnoff. And it looked kind of sketchy down there. So, right. I remember being with a friend of mine in business, driving through a really bad section of Detroit and he was lost. And I wanted to turn on the lights to check the map. He said, don't, they'll know we're tourists or they know we're not from here. So they'll miss the turnoff and they'll just get kind of, oh, should I turn? Should I have, should I have turned back? Actually, I've done this, that or the other. But they'll keep driving. And then at some point, they'll be like, Oh, God. This is just getting worse and worse. And they're low on gas. And it's a bad neighborhood, right? Fiat currency in the end is a breeding ground of crime and theft and desperation. The only place to hide is a library free of copper pipes. So at some point, they're going to just, the panic is going to overwhelm them. And they're just going to flip. And they're just going to turn and gun it the fuck out of there and try to get to Bitcoin. And it's when people see that 75% of their savings have been eaten up by inflation and corruption.
[23:18] And they say, well, if I throw the remaining five into Bitcoin, I can keep it. But I'm not. Otherwise, I'm going to watch it go to zero. That's kind of a gut level instinct that we have. It's it's a very very interesting phenomenon it's a gut level instinct that we have about the sustainability of systems is the system sustainable is the system not sustainable we have a really gut instinct about this.
[23:47] So, right now, what's happening, in my view, is that Bitcoin is positioning itself as somewhat parallel to fiat-based traditional finance approaches or models.
[24:05] And they're saying, well, you know, Bitcoin can be a small part of your portfolio. You know, just, you know, it's an appreciating asset. It's a little sketchy. It's a little funky. It's a little, you know, who knows what. It's like kind of uber technology nerdcore, but, you know, just throw a little in, right? Which is kind of like saying, okay, look, I mean, just throw, I mean, the Titanic's fine, obviously, but, you know, just in case, just put one bag, just put one bag on the lifeboat. Just, you know, reserve your spot. you know just put one back just you know two percent three percent just a little bit you know it's it's fun money it's it's found money it's throw away money like you can it's you could go to zero although what was it somebody said the other day there's no way bitcoin is going to go to zero because i'm going to put a buy in or a buy in order at a penny so right now it's become serious enough that people are saying you know just of course look the titanic's fine, Just put a little bag, you know, put a little bag on the seat of one of the lifeboats. I mean, look, 99.99, you're not going to need it, but you know, what the heck, right?
[25:29] So it's positioning itself as a fun little play area, or of course, Bitcoin doesn't do anything to itself, but it's being positioned, I think, as a kind of little fun corner play area where people can throw a little mad money, you know, just because it's perceived to have value. Clearly, it's gone up a lot in value. Maybe it's the top, maybe it's not. Maybe this Michael Saylor guy who says it's going to go to 13 million of Bitcoin, maybe he's completely insane. He does look like Santa Claus with an eating disorder full of meth. And I say this with love and affection, he's a great guy in my humble opinion. But, you know, the man could crack a smile and I appreciate the intensity because you really can't get that kind of leadership without that kind of intensity but the man looks like he could you know bore through a diamond wall just with uh seeing a bitcoin on the other eyes with those laser eyes from planet krypton it's michael saylor, and i you know again i i admire that level of of dedication and all in itness so yeah so right now the bitcoin before was just nerdcore hyper random.
[26:41] Austrian crack economics speculation. Now it's being positioned as, you know, why not? Just put a percent or two in, whatever. Just get a little bit, get your foot in the door, and it is being positioned as a fun place to grow your money, but not as a hedge. And they say, well, it's a hedge against inflation and so on. But Bitcoin is not a hedge against inflation, Bitcoin is a lifeboat to fiat collapse, which is mathematically inevitable. You know, I'm not a great mathematician, to put it mildly, but I do understand the basic principle that that which cannot continue will not continue. Mathematically, that which cannot continue will not continue, right? If somebody says, I'm going to lose 10 pounds a month forever, well, it won't be forever because at some point he's going to die from malnutrition.
[27:37] Starvation. So, mathematically, that which cannot continue will not continue. Fear is going to zero. It always has. It always will. Fear is going to zero. But people don't get that yet. It's too much of a paradigm shift, and it's very tough for people to imagine how many people are lying to them. This is one of the big problems with propaganda. It's what happened with COVID and lots of other things as well. People cannot conceive of how much they're fucking lied to. See, most of us are surrounded by people who don't lie. I mean, maybe a little white lie here or there or whatever, but most of us are surrounded by people who aren't total fucking psychopathic, pathological liars. Who will say anything, do anything without a shred of conscience or remorse.
[28:40] And it's tough to imagine that the matrix is simply composed of pathological liars.
[28:47] And it's hard for people to think that almost all the cultural and economic and political and academic and media forces around them are just pathological liars hell-bent on excavating every last shred of of jewel-based kinetic economic energy from poor hapless serfs who are raised and trained to praise the liars who enslaved them with the whips of falsehood and propaganda. They just, they can't wake up to that basic reality that just about everyone who is prominent is lying to them on a pathological, continuous, narcissistic, profit-based basis. It's too shocking, because there's the people around you who are generally pretty nice and honorable and decent and reasonable and so on, and we're all just like mammals at the feet of these pathologically lying dinosaurs, who exploit us through the swords of words on a daily basis. But again, there's an instinct for that. And when people wake up to the fact that the people who want to get to the lifeboats will absolutely tell you that the lifeboats are dangerous and that the Titanic is.
[30:12] Is fine. And the reason they're telling you that the lifeboats are dangerous and the Titanic is fine is that they want to get on the lifeboats and get the fuck away and leave you to drown.
[30:24] So there's a tipping point from abstract, uber-nerd, hardcore, Austrian-crack economic paranoia, which was sort of early Bitcoin, to, eh, you know, it's a rising acid. People seem to believe in it. We don't really get it, but it is kind of a store of value. It's kind of like the internet of money and it's kind of like electronic gold and like just a bunch of like nonsense and verbiage that people don't really get it right and so they're saying well carve off a little bit of your fear maybe this will be a decent hedge against some aspects of inflation it's just you know it's a prudent thing uh you put your eggs in a couple of different baskets and so on right and so that and there's a couple of stages after that but it tends to be very much a rapid acceleration after that so after that people start to get uneasy, easy, because they see that Bitcoin is going to continue to rise and fear that it's going to continue to fall. There's a 99.9% increase in the value of Bitcoin versus gold over the last decade, 99% increase just over the last five or six years with regards to real estate. So at some point, they're going to be like, holy shit, value is sticking to Bitcoin.
[31:38] Like deadheads to a traveling band. Like, that's wild. And then they're going to get a sense that the new economy is Bitcoin and they're on the Titanic.
[31:55] And they realize, as their savings go from 20 to 15 to 10 to 5, that if they're going to have anything, it has to be on the blockchain. If they're going to have anything.
[32:11] It has to be on the blockchain. It's blockchain or bust. Blockchain is not just the lifeboats. Blockchain is the USS Enterprise. It is the star ship.
[32:30] And nobody wants to throw their kids down onto a lifeboat unless it's the only chance they have of living. So people are going to say, either i put what i have on the blockchain or i have nothing, and then at that point they are no longer frightened of price because right now people look at the price of a bitcoin and they say okay well but the price of a bitcoin is um 140, 000 canadian right y'all wanted me to talk about bitcoin well here we go right so let's look at the direct absolute price by people were looking back on this kind of funny, right? Yeah, so it's $138,863. So that is the price of a Bitcoin, right? And what they do is they say, well, damn, man.
[33:25] I was just orange-pilling people a couple of nights ago, a big table of people. So they say, oh, damn, about $138,000 and change, Canadian dollars, $138,000, I could buy a lot else with that. Right? Until they can't. Until it's get your precious time, your savings, your capital. Capital is your life. Get your capital on the blockchain or it's gone, get your capital on the blockchain or it's gone, then they won't look at the price of a bitcoin and say well that's pretty expensive relative to everything else I can buy what they do is they look at the price of bitcoin and say it's that or nothing, if I have a million dollars saved and it's a million dollars of bitcoin I get a bitcoin or I get nothing nothing, nothing.
[34:42] Well that's when people realize it's satoshis or bust, and when that happens, it's going to be staggering, It's going to be staggering. Wouldn't you throw a block party with food you knew you couldn't save or store, right? So there's always the case where if there's some extended power outage in the summer, everybody has barbecues. Why? Because you might as well cook the food because you can't store it. Freezer's broken, fridge is broken. You might as well cook it and share it, right? Nobody wants to cook up 50 burgers, but you might as well have a block party and have a bunch of burgers because otherwise you lose them. So cook them now because they're going rotten. Use them or lose them, right?
[35:41] It's like the people being chased by bandits in the past who would take their coins and just bury them somewhere in a field under a tree. The odds that they would survive, the odds that they would not be killed or kidnapped or sold into slavery, the odds, even if they were sold into slavery, that they'd ever get free and find their way back to the gold coins buried. And they find, they still find them around the place. So that they would ever get back and dig up that, the chances that they would get their money back are virtually zero. But they'll do it. But they'll do it. Because any chance is better than no chance. Right? If you're on a plane, and for some reason, the plane is flying up over water, right? It's flying up. And you say, well, shit, I got to get out of the plane, right? For whatever reason, right? The plane's on fire or something. Okay, but the longer you wait, the tougher it is to jump, right? Because the more dangerous it is, right? So if you jump at 20 feet, you're probably okay. If you jump at 50, it's pretty bad. If you jump at 100, you might break a limb. If you jump at 1,000, maybe you'll die. I don't know. I'm not an expert on what happens when you jump into water, but I assume it's not great, right?
[36:55] So when people get that it's Bitcoin or nothing, there will be a stampede, the likes of which we've never seen before in human history, because this stampede will be worldwide.
[37:07] Because, I mean, particularly if it's the US dollar, if the US dollar goes, the financial paroxysms that occur in the world economy will be so staggering that But the idea that Bitcoin is risky, again, lifeboats are risky, compared to what? And the stampede will be shocking and difficult and dangerous. So, that's where I think things are. And that's where I think things are going. All right, let me get to your comments in case I'm sure I've missed a few. Bum-bum-bum, bum-bum-bum, bum-bum-bum.
[37:56] All right, let's get to your questions and comments. Oh, yeah, hand-drawn maps on where to go, I remember. Yeah, isn't that the chair? That isn't the chair that faces the bed, is it? Oh, that's funny. Here in the government, here in the UK, our government will set fire to your Bitcoin, fiat and inheritance and do it all with a suit tie and polite voice.
[38:17] This is an incredible view. Yeah, it's the economic equivalent of what happens to the dinosaurs and only some of us see the asteroid coming in the sky. People still recycling cans and holding fiat is the worst sort of irony if done for environmental reasons. That is very funny, right? Well, I mean, I don't know if you've seen these things where they put trackers on their recycling and it just ends up in a trash heap in Thailand or something, I know people who say this sort of thing a lot but more than ever I think we're about to experience something like the book of revelation, so I'm sort of reminded of that scene in the matrix where that, robot tracker is pulled out of Neo's belly extracting Acting fiat is the most dangerous, risky, and ugly experiment or necessary procedure in all of human history. But it's either that or nothing, right? Because there's so much technology now that without Bitcoin, fiat would simply devolve into...
[39:33] Techno tyranny right techno tyranny right everything you do is tracked and right every spending and cdbc's and so on right all right he says uh in your conversation with michael woodley michael woodley oh yes what what he mentions periods where group selection was accentuated and how innovations per billion were up during these times these periods coincide with when there was a gold standard the jolly heretic talks about how geniuses are beneficial at the level of group selection. My hypothesis is that sound money leads to accentuated group selection, which leads to more geniuses, which leads to more innovation. I think a Bitcoin standard will lead to unimaginable levels. So, I was talking about this the other day with a friend of mine about aristocracy.
[40:23] I'm watching a show called The Crown on occasion, but it's pretty heartbreaking for me to see all that was lost in order to see siblings who are good to each other, at least at that time in their histories, but the aristocracy are those who are both intelligent and competent at war. I mean, not just competent as fighters, not just martial courage, but I always remember Lord Gort from 1940. The eyes of the empire are upon you. So, the aristocracy was hived off from the serfs because the aristocracy were very good at fighting wars on the behalf of the king. And so you had the intelligent warlords who would innovate and study battles and improve weaponry and defenses and create all of the necessary ruses for the fog of war, right? War is 99%, at least in the past, war was 99% deception, that you want the enemy to think that you're strong where you're weak and that you're weak where you're strong. And, you know, like the endless thing where you chase the enemy into a valley and then, right, the pincer comes around, you get cut off and slaughtered, right? So a huge amount of deception. It's a little bit tougher to deceive people now with satellites and so on, but all of war was sort of based on deception.
[41:46] So the only way that the intelligent could survive in war was to become sociopathic.
[41:57] In other words, if you were intelligent, but also good at planning and executing wars, which takes a certain sociopathic element, I'm not saying it's bad, I'm just saying it does, right? And so the only way that you could survive as an intelligent person was, you know, you would either join the priesthood or become a rabbi or something like that, or you would join the ranks of the military as an officer, right? Now, of course, the officers led the charge a lot in World War I, which was the decimation of the brilliance of 19th century Europe, which Europe has never survived, right? Never really flourished after that.
[42:39] So, Bitcoin has allowed for the concentration of wealth in the hands of those who are very intelligent, but not warlike. First time in human history where wealth has accumulated through brilliance, but not through sociopathy, right? So when land, Genghis Khan, right, you just got to go around raping and burning and destroying and capturing and so on, right? It's the same thing with the aristocracy as a whole. You just ride in and you're the warlord and you take over the land and you demand your tribute from the peasants and they can't hunt on your lands. That's bad. That's poaching, right? So, in the past, wealth accumulated through intelligence and sociopathy, intelligence and coldness towards the suffering of others. Now, for a smaller period of time, from post-enclosure movement, probably till about 1840-1850 capital did accumulate among those who were intelligent.
[43:53] And somewhat less sociopathic. But then of course the sociopaths came in and used the government to, control or to raise barriers to entry to enable rent-seeking and to initiate wars and so on and get special protections and licenses and all this that and the other, right? And then the 20th century was all the way back to brilliant plus sociopathic, right? Like the communists and the national socialists and so on. Brilliant and complete sociopaths. And so it came back to political power and war and the ability to starve out your enemies and slaughter their children and start wars and the holodomor and the holocaust and so on, just massive slaughterhouses. So intelligence and sociopathy gathered resources. But of course, when resources gather towards sociopathy, you end up with endless evils in the world. Because those who have the most money and the most power, tend to be the most cold, cruel, and calculated. And there certainly are some exceptions in the modern world, without a doubt. But that's the general pattern.
[45:01] So, Bitcoin, though, has allowed people, to gather resources without being sociopaths. It's absolutely unprecedented. Like, all the tax money that flowed from the intelligent and productive to the needy and sociopathic, right? And please understand, like this kind of evil and coldness occurs throughout the classes. Everyone thinks, you know, because the poor always want to portray themselves as needy and lovely and wonderful and caring and so on. Well, we'll share all our food. It's a complete lie. Everybody who says, well, the rich need to pay their fair share, to me, total sociopath, total, yeah, just as cold-hearted, right?
[45:47] Because it's dehumanizing the wealthy, right? Saying that they're just cattle and slaves that need to serve the needs of the less competent and the less responsible or maybe even the less intelligent. Of course, that's an aspect to it as well.
[46:00] So, for the 20th century, really since the 1930s, a great deal, and certainly the labor victory in England after Churchill defeated the Axis powers in World War II, there has been a massive flow of capital away from the competent and intelligent towards the greedy and cold-hearted poor. And Bitcoin is the recapture, it's the retaking of the capital of capital, so to speak. Bitcoin is the war to reclaim value from those who have stolen it through force and fraud and propaganda and lying and money printing, counterfeiting and so on. It's a massive pendulum swing, utterly without precedent in human history, that people who have moral sensitivity. And I was, of course, around and gave speeches in the early days of Bitcoin. And people really cared about the world. They really cared about, like, I got cheers when I did my speeches on how Bitcoin would end war. There's a huge amount of compassion and empathy in, I don't know what the scene is now, but certainly back in the day, it was very much about that. And that was something to be enormously celebrated and loved and respected and treasured, really.
[47:21] So, the sensitive, the moral, and the intelligent finally are getting their day in control of capital. Finally, finally, finally. The most humane, empathetic, sensitive, and moral economics theory is the Austrian school. It's the Austrian school.
[47:49] Because it actually cares about those who are on fixed incomes and it has property rights, which are human rights at its core and it resists the conception that anyone can handle the near infinite power of money creation and the control of interest rates so the and it's not even a close second keynesianism is uh institutionalized sociopathy mixed economy stuff is just wanting to have enough livestock to pillage. Communism is when deformed freaks make it legal to be normal and kill everyone who looks healthy. That's an old meme. And I talked about this in my documentary on Poland, that in Poland, when the Nazis came in, they killed everyone who was intelligent, they shot everyone in glasses, killed the doctors and lawyers. To decapitate the high IQ aspect of the population is to destroy it for centuries. When the very intelligent and creative and productive fled Spain after the hyperinflation that came when the gold was discovered in the new world, Spain went into a fairly desperate depression slash recession for 400 years, right? Because it takes millions of years to develop very intelligent brains, but they can be blown apart with one bullet.
[49:11] So in Poland, the Germans came in and killed the intelligent out of resentment, because the hatred of the intelligent by the less intelligent is bottomless and a profoundly and horribly energetic sociopathic force in human history. And then the Russians came in to Poland and did the same thing, shot whoever was left over who made it through the first wave and decapitated the smart people in Poland.
[49:50] So the smart people have always been running from the violent people. The smart people who were sociopaths are constantly using the less intelligent, violent people in their wars. But Bitcoin is those who follow the most empathetic, humane, moral, and sensitive economic system, which is Austrian economics, saw this 10 light years off. Saw this potential 10 light years off and staked their claims on the moral universe of anti-theft and anti-exploitation called the blockchain.
[50:36] I mean, the blockchain really is the cemetery of sociopathy. The blockchain is where you can keep your property against all theft, personal and institutional. So finally, for the first time in human history, the sensitive, the moral, the intelligent, the wise, the caring, have been able to stake their claim on the most permanent and uncorruptible, swath of human capital that will ever exist, ever, ever exist. And we'll see what happens when brilliant nice people finally have control of significant proportions of the human economy and human capital and I suspect it will be a golden age the likes of which we cannot even conceive of yet although I gave it a good shot when I wrote my novel The Future which you should check out. All right.
[51:58] All right, it's already getting dangerous even for the rich like that ceo from united healthcare, yeah i mean well people have voted to let criminals out and, freedomain.com slash donate by the way if you find what i'm saying to be of utility and to be a value and if i have said things of utility and value in the past freedomain.com slash donate and yes i do take bitcoin but only five at a time obviously just kidding all right, i've been listening to a number of older podcasts with the search austrian today oh yeah my austrian yeah those were the necessary reading to get the phd lesson i'm good.
[53:02] Oh, this is Keene's. Nevertheless, the theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state than is the theory of the production and distribution of a given output produced under the conditions of free competition and a large matter of laissez-faire. The theory of the psychological laws relating consumption and saving, the influence of loan expenditure on prices and real wages, the part played by the rate of interest, those remain as necessary ingredients in our scheme of thought. Yes. Keynesianism requires totalitarianism. Yeah, for sure. Freedom is possible on Earth, even if we don't make it to Mars anytime soon. Bitcoin allows this. Yes, that's right. That was an amazing spontaneous speech. I donated before, but I'll have to donate again. You donated before the stream. Well, thank you, Matt. I really do appreciate that. You guys make it worthwhile. to do some of this quite challenging work. And I really, really do appreciate that very, very, very much and humbly accept your kindness. All right, sorry, I think I missed a question or two.
[54:17] Let me see here. I did a good call-in show today about a woman who wants to confront her mother, this poor woman it's a public call so it's fine this poor woman had an adverse childhood experience score of nine of nine man it was a interesting but tough call hello krasenstein hello jody hello occupy all right well it's been a pretty bitcoin health uh heavy show right, And that way we can actually put out a show title and it's not like, you know, 5% to 8% of the show as a whole. If you have any other questions or comments or issues, I'm very, very happy to hear that. It's so funny how Elon Musk, well, not funny, I suppose, but it's interesting how Elon Musk is so desperately afraid of governments that he wants to get to Mars. I'm not saying he's wrong. I'm just saying it's pretty wild. Like, why do you think he wants to get to Mars so much? So he can watch the orb.
[55:30] But he doesn't talk much about Bitcoin, I don't think. I don't think he talks much about Bitcoin at all. Have we had a no-donation stream? I guess everyone's still agog. Yes, we have. We've had a no-donation stream. Well, I'll give you guys another second or two. Yes, if you want to send me a message, host at freedomain.com. And don't forget, you can go to freedomain.com slash call to book a public or a private call-in, depending on what you like. Depending on what works for you. Alright, so let's see here. Why am I not getting my questions anymore?
[56:15] He's mentioned Doge a few times. Yeah, yeah, for sure. When I listen to a call-in show, it seems like you hang up too quickly and I feel disappointed. Why do I feel that way? Well, I would assume, my friend, and thank you again for dropping by as always, I would assume that you feel disappointed because those are the kind of conversations you want in your life. Those are the kind of conversations you want in your life, and therefore when they end, when I'm having a call with people and we're talking about sort of deep and real and powerful things, moral things, then what happens is you then return to perhaps the shallow, somewhat empty conversations that may be more the norm in your life, so you want them to continue so you don't have to close the gap from your own personal life. That would be my guess.
[57:02] You donated on free demand. All right. Well, thank you. I appreciate that. Adieu, adieu, adieu.
[57:12] Let me just see. I'm sure you are correct. Thank you, thank you, thank you. I appreciate that. All right. Let's just look for any last questions or comments.
[57:27] I am recovering from something, so I'm not going to do a super long show tonight.
[57:39] I'm a simple man with a simple plan all right so let's do one last check here oh yeah, Yeah, it's kind of funny. Pamela Anderson looks fine for being in her 60s. My gosh. Crazy. People are getting upset about that. Crazy, man. Now, that's not the case. We definitely have some comments in here. Why am I not getting comments? No. All right, let me close this down. Come back in. Last look for comments.
[58:30] Yep no comments coming in all right uh let me just so i will um for some reason i'm not getting any comments here i don't know why it says no one has left a comment and i'm i know that i saw comments early earlier let's see here so i'm since i can't see the comments i will stop here but I really do appreciate your time, care, and attention tonight. If you find what I'm saying to be of value, freedomain.com slash tonight really, really would help and humbly appreciate your support. Lots of love from up here. I will talk to you guys Friday. Maybe we should be back in the studio Friday, but sitting is a little uncomfortable. So I will look forward to that conversation and keep your questions and comments coming. Freedomain.locals.com, great community. Subscribe. Appstar.com slash free demand also gets you to a great community and lots of love from up here, my friends. Take care. I'll talk to you soon. Bye.
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