TSI 43: The Battle Between Central Banks and Free Markets with Jeffrey Booth | Solomon Investor

if you look back through history um when a whole part of the population doesn't have things in a very small part of the population has everything the people on the bottom take it back through force 250 trillion dollars of debt to run an 80 trillion dollar global economy so banks would fail the the the institutions on top of those your governments would fail um in a deflationary in a deflationary spiral we would want to actually not look at what variables there are but we want to ask ourselves is this a wise investment and more more so is this the wisest investment our salmon investors are looking for that wisdom to actually get outside of that system and there's a large leaning toward bitcoin and you know we see it as this digital gold hey this is another salomon investor show i am your host blake templeton and this is where we focus on the wealth strategy of the world's wisest man king solomon and translate it for you the 21st century investor covering everything you need to know for wealth faith and excellence in this episode we'll discuss the internal battle of the deflationary technology and the inflationary forces that stem from central banks monetary policies and most importantly how it affects your investments and by the end of the show we'll cover the ultimate battle of what might become the next world currency it is here that you learn how to take control of your financial reality and write your own narrative for your future okay so for those who are new what's a solomon investor a solomon investor is one who looks at the wisdom of king solomon says you know what i want to be directed by god i want wisdom then i want wealth so i don't invest in the public market i actually take control of my wealth in the private market and we build exponential wealth and this is how you'll be able to have peace in the middle of chaos to have confidence in the middle of uncertainty and most importantly to be able to build exponential wealth sustainably so if you want wealth faith and excellence in your life then take action right now and smash the like button then hit the red icon and subscribe to this channel and last hit the bell icon so you'll be notified every single time a new video like this comes out alright with no further ado my special guest today will help me unpack the pillar of wealth he's an entrepreneur technology leader author strategic advisor jeffrey booth he's the author of a book i love it you're gonna have to get a copy of it the price of tomorrow and the co-founder of build direct a company he started back at his house and took it to over 500 million dollars in market capitalization here's some fun facts about jeff he spends a lot of time helping young entrepreneurs achieve their goals and his down time jeff uh you'll find him playing the guitar at the at the lake making a campfire with fans and friends and family enjoying water sports and skiing up in the mountains he also reads 50 books a year that's my kind of man who actually is always like impregnating that new wisdom inside of him so jeff welcome to the show my friend thanks for having me blake hey it's my joy i really look forward to unpacking um some of the wealth of wisdom for how much um width and depth you have uh you you really articulated some key points that i've never heard anyone else talk about so i'm super excited to get into that you know jeff why this uh i want to set the stage of why this episode is so important for my listeners because most of us are aware of the political system unraveling and you know the media outlets censoring what is truth the stock market you know has been manipulated and we're headed toward a socialist communist ran structure as a comp as a country and so it's now that we've got to be good stewards and rise up and gain conviction and let that literally flow over into our investments so i'm excited to pick your brain one let's just jump right into it you know one thing you believe is that money printing um has created a competition and this is a competition that i've never i hadn't heard anyone else talk about and you uh you beautifully talk about it in the price of tomorrow but it's a competition between deflationary technology and the infl the inflationary forces of essentially printing money and i guess before we talk about which one you think is going to win let's tease that out on a practical level like what does that mean the deflationary technology why is technology bringing it deflationary um quite sen and and the two great forces in our life that we don't uh measure uh everything else that we see in the news is a derivative of these two forces colliding against themselves and and so what's happening is technology is providing efficiency on an exponential scale so more and more efficiency every year and it's riding on the back of moore's law and um and eventually moore's law will turn into something else but uh whether it's quantum computers or or like it'll feel like like exponential technology in our lives for for time to come sure and that means things should be getting more and more efficient and that efficiency should be driving prices down lower and lower and lower so so when we look at a cpi index we see tvs are getting bigger and cheaper our phones are getting more powerful and cheaper we see a whole bunch of things that that seems to to to look it looks normal right and so we would find prices were driving that are driving down but prices are technology is becoming a base layer of everything we do everything and that means prices should be falling everywhere and so so my thesis was why are we not seeing prices falling everywhere and when you look at the other side of the coin i mean the the other side of the existing system we live in which has always been inflationary um we and that's been by design because it requires a bunch of debt and if you have deflation against that system that debt that keeps unwinding so so so we live in a system that is inflationary by nature and then then but if again once my uh if you go into my thesis what you would say is it should be getting exponentially cheaper and then something must be blocking that that from getting demarcus that must be in that exponentially cheaper would be driving abundance broadly in everybody's hands um if you let the free market work sure so so there for a second so like you're saying like capitalism that's that's what should happen it should be happening even more though is what you're saying so so it's not happening and so what's blocking it so so when you when you look at the other side you realize okay there's there's today or when i brought the book 250 trillion dollars of debt to run an 80 trillion dollar global economy and that sounds like a lot of debt and it is a lot of debt to run an 80 trillion dollar global economy but again if you if you consider that technology is just starting and it's actually getting more and more most of the deflation is in front of us looking back over the last 20 years you should see an acceleration of debt or an acceleration of printing to be able to stop deflation from happening and that's exactly what you see so in the last 20 years out of the 250 trillion dollars of debt that's globally 185 trillion has been been printed or in uh brought into the market over the last 20 years and so that is stopping some prices from falling or stopping all prices from falling and stopping and and driving up some prices way more than others so so it's it's essentially butchering capitalism and inflation on one inflation um is uh if you have the assets the assets rise in price according to the inflation if you have housing the inflate the housing will go up if you don't have the assets your pocket is picked so the other side of inflation is wage deflation so if you have cash or your wages those are going down in real terms so what's happening and a lot of people when they're zooming into this because they're inside a system that they can't see the overall they can't step back so they're measuring all of their interactions from that system right so their food prices are going up their house prices and everything else and they can't see what's happening and why that's caused and what i'm getting at is that is not the free market causing it it's anything but in fact so it's so it's a breaking of the rules of capitalism um and and it's not just in the us it's not just canada where i am it's globally all governments are easing and trying to print and into this sure and so you um you would say that um there's a battle then because we have technology getting more efficient it's getting faster to faster it's getting easier to make it's getting less expensive to make so it's sold at a cheaper price but then you have the inflationary force of the printing of the money and these two are colliding and it it really confuses what people are seeing because capitalism you just see one single side that you just see the free market rain everyone would be in abundance you'd see everyone thriving and with these so we have to unpack that a little bit so so so what i'm saying is the free market would would we would see deflation we would see a complete reset of the existing system and the debt would be wiped out but if the debt was wiped out if you let that happen all the banks would collapse governments themselves would collapse because there's nothing backing the debt right so so the free market the free market requires a cleansing of of excesses you're you've got a problem either way it's what you're saying either way and it's a transition between systems right so so we never noticed how um the the easing or how much governments needed to print to be able to keep us in stasis because technology wasn't moving as fast as it is today so we didn't notice let's unpack that right there because that's a key point share more on that so so in the 50s 60s 70s we governments didn't need to right the technology wasn't moving at the rate it's moving today technology is moving at a different rate so so today requires an offset to keep an inflation target at two percent what they're trying to do is overcome take interest rates lower so people will spend more and lower and destroy the value of your cash just so you spend more and and then and when that doesn't work i'm going to print new money to be able to really destroy the value of your cash to be able to try to get out of this and and so when i said that 185 trillion over the last 20 years that's before covet that's before anything right right right what has to happen logically going forward is that number and here's a better remember remember in 2008 when the uproar about around 250 billion dollars was it was printed and kind of given to the banks to be able to so we stopped capitalism from working and we saved the system right and and that 250 billion remember the the the marches and everything else on on what that looked like today we're talking about trillions and trillions and tomorrow we'll be talking about tens and hundreds of trillions that's what it looks like yeah it's a really good point um really really good point so i go back i remember when i was in third grade jeff my parents received their first computer and that computer was you know it cost three thousand dollars and obviously we know that it had you know the amount of memory of you know almost nothing and the speed was almost nothing and a couple years later when um when internet came it was dial up and you you would push a button and walk away for 15 minutes and so what you're saying is prior to that um things weren't moving technology wasn't moving fast enough to bring down the price of the of we'll just call of technology and so the price of technology hovered at a higher price for um for a longer time now because it's exponential grade of technology and the fountain and everyone's using the same technology and building upon it to make it faster more efficient and cheaper it's almost like um you literally have to print so for my listeners who like to break that down it's like if if you didn't print more money is what you're saying jeff craig if i'm wrong if you didn't print more money everything in that sense would get cheaper and cheaper and cheaper and it would be harder to actually run a let's let's use an example uh housing is a really concrete example for for for today everybody wants a house they spend more on a house and why do they want a house because they think if they buy a house it'll go up in value forever and then they can retire one day with that house and they can live off the savings that's why they really want a house a great place to live but that's really why they want to the only reason right and and and then the same thing commercial real estate my rents will go up and everything else over time all of that concept is because of inflation the assets rise in price over time and all of that concept is driven by the same thing ask for any listener the listing list this if you think housing would have gone up over the last 20 years globally if there wasn't 185 trillion dollars of additional easing into the market you're not thinking straight housing would not have gone up it got it goes up because you're the the you're changing the money supply to be able to add more currency units to make it go up and so so we live in that world and we're measuring everything by that world so let's just say what would what would governments today do assuming now now they didn't see what what happened is technology um comes on slow and it just gets better and better and better and people don't see how fast it's moving the same reason that blockbuster didn't see netflix is exactly the same reason cr policymakers don't see how fast technology is moving and what did blockbuster do once download speeds increased their 9 000 stores and all their videos and everything else the entire thing that made them their company their economic engine was destroyed overnight and so what did they do they added candy aisles to the stores and we laugh at that right we laugh and that's crazy you could say what are policy makers doing today they're adding candy outs to the stores that's a great point there's nothing they can do it's not because they're it's just what would you do if you're a policy maker they have no tools in their tool belt right what would you do you ha if you don't un uh run if you don't try to create inflation so you can pay back the debt in cheaper terms tomorrow which is all theory still that they're going to be able to pay it back in cheap terms right but if they if they debase their currency they can because their currency is worthless and they pay it back with with worthless current currency so they can if they if they can drive inflation to a certain rate they can but that debasing current their currency has has a huge implication for population right because it picks the pocket of of the most vulnerable and hands it to the wealthiest yeah and say that another way uh those who don't have assets who have a storehold of value then those the only ones at the end when that currency is debates are going to have anything exactly exactly but but but again the tail risk isn't that either because if you look back through history um when a whole part of the population doesn't have things in a very small part of the population has everything there's nothing like the the the people on the bottom take it back through force yeah that's an interesting thing and i think we'll we'll touch on some of that that uh that there may be a solution to that so guys stay to the end of the podcast because there is hope around the corner um hey guys before i forget i want to give the details to a live investment webinar where we talk about where you should be investing right now in our current economy pull out your cell phone and text the word solomon to 31996 again text the word solomon to the phone number 31996 and i hope to see you on the other side there's a you know let's move on to there's a lot of uncertainty around the stock market for example it's become more and more apparent that there are um zombie companies you know they can't pay their actual debt service they can't pay their their principal and interest in their actual publicly traded companies and they're literally living off stimulus and many feel like you know there's a collapse coming and you said in a previous interview that without more stimulus injected into the market you know expect a downward spiral and if stimulus stopped that downward spiral would take stocks down potentially even 80 percent 90 percent 90 yeah everything would er so banks would fail the the the institutions on top of those your governments would fail in a deflationary in a deflationary spiral so you know we're in a really volatile situation here um we don't have a crystal ball what the fed's going to do so let's let's step into our investor hat um in our investor hat we would want to actually not look at what variables there are but we want to ask ourselves is this a wise investment and more more so is this the wisest investment where i am in the stock market and so let's tease this out um you know and i appreciate jeff from your vantage point with your width and depth understanding um world history understanding what the economy is doing and where it's going right now um with your investor hat on why are you not invested in the stock market so and i have some uh but uh but as a as a porsche and i just think there's better opportunities for uh for my wealth today this is bigger though than than the thing that you're talking about where do i protect my wealth where do i that if you looked at the probabilities of on the game board so let's just look at the game board and that's what many people making investment decisions and life decisions right now don't understand the game board they're playing and the game board is changing from a world where they could safely get returns in the stock market and a whole bunch of other places and and capitalism generally worked you could value invest you could find to now the entire market is is fed induced or central bank induced and if it stopped so on if that continues then the tail risk becomes social upheaval so so so that's the game word we're playing and if it stops then the game board becomes becomes cash becomes king so let's just play that side side of this so you have a probability distribution of things that are going to happen um and you could say in high probability not a hundred percent in a high probability the the governments are going to have to keep printing and so you could play out what that looks like in that now it's going to be bumpy along the way they're going to try to remove stimulus um and then things could collapse and then they're going to have to add stimulus back in if you remember what happened in 2008 because they can't if they let the banks fail and everything else it just everything stops so so if you looked at all of the probabilities of that event they'd be one on the other side you have technology marching on colliding against this and in the end governments are not going to be able to stop what's happening in technology in fact they make it worse because let's say you you said in the stock market so so let's use airlines as an example when i was growing up what people would do is hold cash on their balance sheet for a rainy day because if there was a bump in the market they would be a buyer and they would take weak companies out and they would and and they would consolidate power so it was worth having cash on your balance sheet today if the fed says to to see essentially this fed says we are going to punish you for holding cash because we're trying to destroy the value of cash so what would you do as a ceo you would take that cash and you'd buy back stock because that's where you would get the best return now comes along an event and every other ceo does the same thing because essentially the market says don't hold cash better not otherwise you're not going to be ceo very long right and then every time that the market has a dump bump instead of the loser the the people with no cash failing the market bails them out again the fed bails them out again because no one has any cash on the balance sheet and they've all levered up and if they the fed doesn't bail them out the collapse of the general economy is so horrific so so by instituting these crazy policies you make you drive more instability in the entire overall market so so and people are making rational decisions in an irrational world so they're making their own decision in an irrational world and they're making the best economic decision they can be is here on the other side of that coin is what the fed is saying too it is you are either going to be a ward of the state forever because um or or a lot of the smart ceos are saying i have to use technology to remove labor and make my business uber competitive as fast as possible or i'm going to be the word of the state that's what it looks like so in fact it's actually happening faster and faster all the while technology is moving and wanting to give us more for less so that's it it is really important that people understand the game board that they're playing on because a lot of here's here's a good way to to say this if you're running on a plane and measuring how fast you're running from the plane versus running or measuring how fast you're running from the ground they're two different speeds sure and and so if you're measuring the system by the system you live in you're not going to see what's really happening you have to get you have to back up and see what's happening in the overall system that we're playing and what are the likely responses of the of the system when you ask me about uh bitcoin as an example bitcoin is measuring the system from a different system so it's it's it's a more pure market signal yeah it's a very interesting uh process and i love the mindset of that you're saying that the what we've been taught how we've grown into learning about finances or your economics or how you invest that doesn't work anymore and it doesn't work in this system because it's it's it's on a different speed than what you your um your idea of what would be logical is it air logical because of the conundrum that we're currently in as a economy right and then and if you play that forward so if you play the probability distribution the governments are going to keep printing then the probability of revolution and and or or totally different tax rates on some of the things that you that you've invested in um move higher and higher and higher all the time so we're living in a again your bill what's happening is you're you're building more instability into a system that cannot work against deflation technology that's more powerful than essentially technology is more powerful than whatever the governments are going to do to try to stop it that's as simple as i i i can say it if name a ceo that's putting technology in their company to make prices go up why do you why do you use technology you use it to save your time to make it efficient look at your look look at your phone and what your phone gives you for free today when 20 years ago it was only a phone and you'll see you'll see what's happening in every industry at light speed and it's just starting yeah and what what i hear you saying um it's a great point too is that there's no way that they can print enough to save the economy do you know why so so think about the 185 trillion over the last 20 years and every time that the congressional budget office said um uh here's what we're going to reduce rates by this much and here's what growth is going to do and every time they massively missed what growth was going to do right they massively uh they thought they overestimated how much growth would you get out so that's what is happening because what they're they're not playing with rules that it's like blockbusters saying i'm adding accounting aisles and now everybody's going to stop downloading netflix and they're going to come to them how fast technology's moving exactly so they're pouring water into a hole and and technology's moving faster the other way yeah so so then then they go okay well cpi is only 1.5 we can't get we can't get inflation higher we keep trying to get inflation higher right and but but that inflation is showing up in house prices food prices and everything else and other things that in their in their basket that they're measuring are coming down just as fast yeah it's a very interesting thing and so with that said um they continue to do this they'll soon come to a point where they they say you know what it's mmt or uh modern monetary theory and we've got to kick this in which simplistically means the u.s and other countries can don't operate um with unconstrained revenue and can print helicopter money and give it out and one interview you talked more about that which was interesting um that the the fed then loses credibility and then all bets are off with inflation so the treasury essentially will become the fed and print money and distribute that money out and as if that's gonna you know save the world that's gonna that's gonna actually be the the savior of this financial system right well i don't know why um so any time you start doing this you move more and more power into government's hands so right now today i think it's 26 percent of personal income is driven by the government right now i'm on a bunch of boards and i see the company saying okay here's how much government grants i'm getting how many government grants i'm getting and that's why i'm profitable i'm just profitable because of that what they're not doing is they're not looking at it and what they're not doing is they're not looking at all of the businesses that do business with their business that the same thing is true they wouldn't be doing business those businesses would be out of business for if not for the money so it's not there people are looking at their own situation measuring the system and the system's getting more and more fragile let's just look at what inflation is so inflation is when the value of your dollars are worth less right so goods and services cost more so when the government says we're trying to drive inflation how could that be good for for people without without a lot of with or without a lot of assets it's impossible right awesome right so so then say that didn't work now let's create more money to we're going to hold out we have to drive prices even higher and then we're going to take that money of the prices that we are going to create more money to give these people a little bit of money to pay for the prices that we're driving higher that's mmt and so so on that on that path what you do is you concentrate more and more power into government and less away from the free market because and because the government can never make decisions that free market can make um because it's a small essentially you're saying a small group of people can outperform the information of all people that's what you're saying but with that equation what happens once you're on that path essentially you're on a path it's it moves to control by the biggest thug so you've given up the free market and giving up the free market has consequences because a free market has as has over time because of the choices in a free market the taxes come from that free market to pay government services services and and to pay for the other things we want and and and if so if you don't have a free market if you're if you've if you've essentially if you can't operate a vibrant free market then you don't have the growth in an economy to be able to give the services to it to everyone so so in that when you look at when you look at russia and you when you look at other countries that go through this kind of control through biggest thug over time the the economies fail and some and somebody has a lot of power yeah the population does not the population does not and um and then comes this understanding that you have a monetary reset coming i mean somehow someway the only way around this is that monetary reset and through world history we see you know countries debasing their currency and i think you and i agree that um they get deeper into that debt trap which which is what we're in and the normal situation that would typically happen is that this would be solved through wars or uprisings where they have that to actually blame as the problem they reset start over and so let's process through let's transition to what could be that life raft what could be a peaceful transition that would keep this from being this massive um issue where literally there becomes you you lose the middle class you be have a massive poor population in this high uh rich population how and then you mentioned great a great point was that the it never stays like that because the the poor always are going to take back what's been stolen from them and so what could be that peaceful transition what could actually be that life raft so first revolution and war so revolution typically precedes war one way or the other because because the population is is so struggling that somebody comes into power and says it's not your fault it's those people's fault over there right and if you see any actors in in the system today in the political system that's what's happening on both sides of the aisle it's not one or the other it's both sides of the aisle because no change in an actor can change the system and it's not just happening say in the us and individually and you see all the political divide and most people talk about the political divide instead of the thing that we're talking about that's driving it all it's also happening at a geopolitical level because because when your population when when there's not enough people to say okay that didn't work you have to create a different external enemy it's china it's a great point it's china or it's russia and so you can see and by the way they're doing the same thing in their countries right because they have to right because the economic system is unstable and the and in the in the need for power they have to they have to gain their citizens trust that there's a fix to it and there is no fix to the existing system as it stands besides resetting through war or besides besides countries coming together and saying we're going to take a hard landing and figure out a new currency a regime of the world but in a you know in a world that doesn't trust each other is very unlikely to happen right so so what could what could be the most peaceful transition and this is why this is why i like bitcoin um because it's it's outside the system and it produces uh it's a it's a system that's gaining more and more network effects value and that and that system eventually i think so early on people are getting gaining value on it as they add more value it's becoming stronger and stronger and stronger and now companies are holding it big companies are holding it as a treasury reserve and i think eventually countries have to as well and if that happens at a pace that's the right pace essentially you could look at 400 if you looked at today's measure of value call it 400 trillion dollars of global value sure um and and bitcoin has 21 million coins 21 billion bitcoin so you could divide if what i said is going to happen you could divide 400 400 trillion by 21 million and that would be the relative purchasing power of each bitcoin and and so what if you measure what's happening in the world today around or and you've put your frame of reference in bitcoin price everything's following a path of lower and lower prices all the time it's we don't see what's happening because we're measuring in fiat currency yeah so so last last year the average house in the us might have cost 10 or 15 bitcoin today the average house in the u.s

costs us for bitcoin yeah it's a great point in in the u.s dollar the price is getting more expensive in bitcoin it's getting cheaper the the college tuition in the us dollar is getting more expensive and bitcoin is getting cheaper so you see um that could be a peaceful transition you see that it's a life raft right now that it makes sense and you know for those who fully grasp that the printing of money and um just trying to solve a temporary debt crisis they get it we're we're now in this ponzi scheme we you can't keep up with it and we'll debase our currency and our salmon investors are looking for that wisdom to actually get outside of that system and there's a large leaning toward bitcoin and you know we see it as this digital gold right jeff i mean it's it's a storehold of value it's a digital bank in cyberspace it's decentralized ran by um not ram by a set of people with an agenda but it's really called the people's money and it's been bound by you mentioned has been bound by this limited supply which fully removes the ability to fall into the same debacle as the current us dollar which is able to be diluted and with more printing of just you know drone pile pushing control p and printing those dollars so you know in your massive width and depth of history of currencies share with my audience by making the case why bitcoin you know could become the world's reserve currency and on you know national currencies will eventually be pegged to bitcoin yeah so so today it's about a 2 trillion dollar market cap and a lot of things have to move along that path but because it's decentralized a lot of the same reasons you just said um in the past people would peg to gold and so why did scold have a eight or nine trillion dollar market cap today it's not because it's pegged to currency it's because of a belief system that people believe it will be pegged to go to currency again and and that and that belief system in my belief is flawed because gold itself is a store of value is flawed for the same reason because it needs to be a whole bunch of a whole bunch of reasons but let's just take one of those because gold has to be centralized and because it has to be centralized governments in the history in if you look back through time always take the gold and rewrite the group and rewrite the goal who it rules so or or in 1971 the u.s goes off the gold reserve to push out their their their risk and essentially underfunded liabilities to the rest of the world and so they could drive deflation through inflation through the 70s so they couldn't do that with gold because they were um so so they had to because france asked for the gold back so they went off the gold reserve the so gold as a store of value not that it's not it wasn't at some time when we didn't have something better it was a good store value that did this but it was always subs suspect to governments controlling it because of its storage because it wasn't decentralized and and bitcoin is decentralized if you can remember 12 words nobody can take your bitcoin and you can and and why it's so important as a life raft like think about the weimar republic and think about in in as kind of the rise of hitler and and when what happened on the rhine republic same thing a whole bunch of people through hyperinflation were getting killed a very small part of the population was getting enriched why didn't the people with with all the wealth see the writing on the wall and see what was going to happen next and get out of and get out of uh germany and because they were getting enriched by the same system and by the time by the time they wanted to leave or could leave all of their wealth was inside the system locked up in in the same system it's not like they could take their real estate with them all of their assets lived in the country and they and and and so so in and and it's it it wasn't really easy to sew a gold bar into your clothes to be able to take to uh to get out bitcoin doesn't that's why bitcoin is such a good life for life raft because you could go anywhere with 12 words and you can protect your wealth and that nobody if nobody could stop you nothing can take nothing can take that from you so if your country most people don't see what happens because they essentially it their frogs boiling in a pot and the heat's getting turned up more and more and more and they don't see what's going to happen next right in this in this case you could go anywhere yeah it's a really good point um okay so i'm gonna play devil's advocate with you for a second for those of you who get it they understand the writing on the wall makes a lot of sense they see the life raft they see all the points we've made about it you know some of the some fear the largest problem with bitcoin is potentially maybe they can't take it but they do a government ban potentially so let's expound on the game theory um you really articulated that well you know and um the understanding that the competitive world we live in where every region needs to attract wealthy people and wealthy businesses and if a region bans it another region will accept it and so it's a really clear point um expound on that for me and um so first off every government that has tried to ban bitcoin um bitcoin you bitcoin use expands um so the populations so so if and i put this on a tweet recently i said if your government tries to ban bitcoin they're screaming at you why you need it um that's a great point um but but so that's what's happened in every country that has tried to ban it actually the use explodes and the in the input but but even failing that let's say the government kind of bans all the on-ramps off-ramps and they really clamp down what happens is other governments it provides a more of an incentive for other governments to uh to accept it because governments like corporations like anything else you're trying to attract capital i could go to portugal today with my family with a golden visa and for 250 000 and get all my family you know it's what's called the golden visa and all it takes is a 250 000 investment into portugal it's not a gift it's an investment where i make a return why because they're looking for the investment dollars to drive more jobs why wouldn't the same thing happen with bitcoin and the same thing will happen with bitcoin so that the game theory creates an incentive so if governments try to stop it it creates an incentive to accept it in fact us is probably um i i think is going to help the on-ramps not uh off-ramps more and a thriving ecosystem around it is that is what i would expect because if you think about the geopolitical risk of china it actually might be the only way the u.s can retain a lead it's a very

interesting thought line because because china gets away with it there's never been a country in history that's created a faster or higher debt to gdp as china the amount to that so they're doing the same thing and stimulating and stimulating and stimulating and and well every country is doing the same thing it will look like china's the great how fast they're growing and everything else it will look like that's happening because every other country is doing it if you went to a deflationary currency if you went to deflation and allowed that to happen communism doesn't work it's a great point you you you pull power from you pull power from leadership like that yeah it's a really interesting point yeah very interesting so again power comes from power in many cases people don't know it but it comes from manipulating currency and people are not the wiser yeah and with that manipulation if you stay under that system i would talk about it all the time as like you're a trader on the trade route and the truth is is is you now have to you can't be a trader on the trade route anymore you can't actually be in their system you're going to have to be outside of their system if you're going to make it if you're going to sustain your wealth because your wealth currently is losing value or your dollars buying less and jeff i appreciate your your width and depth um it's a really really interesting concept um it's more the reason why we've got to have our monies in assets that actually hold the store hold the value have strength that we control it's not held um for instance in in the public market in a a mutual fund with you know a basket of um products that are an index i mean it's got to be something that's not tied to that centralized system so i really appreciate that any final words you'd like to share with my listeners uh probably just just that in an environment like this there's going to be obviously a lot of confusion and you see just about the news is filled with that confusion um political geopolitical um all of this game game a whole bunch of wealthy that don't know that the main driver of their wealth is the inflationary policies that's making a whole bunch of other people poor a whole bunch of poor people they don't don't realize that it's the same thing all looking to different actors within the system government to be able to solve the problem and it is a problem that the government on the existing system can't solve it has to be solved from a from a new system and so what i would say to to people listening expect ex expect a lot of noise through this expect to have empathy for what other people are going through and there and give them time to understand what you might understand so in in a way to um so once you've protected yourself and understand and help other people to to see what's going on that's a really it's a lot of wisdom right there um and that's you know pre-framing that there will be volatility there will be confusion there will be lots of voices um there's not a solution in this in the in our current system there's not a solution i i really wish there was yeah and i really wish there was but there is not a solution out of the the existing system and i appreciate you saying that because um if you know before covid when you wrote the book the price of tomorrow you'd mention that you know you had a a hope a hope that you know it's the greatness in the book is the mindset that the hope is you're wrong because then everything gets better and you'd rather you know sacrifice on the sword and be wrong before the system may be better and you mentioned you know after covid um which you know and it's seen in your book and again guys uh why deflation is the key to an abundant future you say you you make the points you make in the book are very very clear and it's it's playing out the the chess pieces are playing out exactly as you had mentioned um the only change or the only difference is that it's happening faster it's happening at a warp speed and so the to tie a bow around that there's there's in our current currency our current system around the currency there's no way to fix the problem it'll get worse no matter which direction they go it'll get worse and so that's why guys as a solomon investor we see that we want to be out of that system we don't want to be in the middle of their volatility because without control you are fully controlled they want to be out of their system and that's where you can thrive you truly can thrive in a decentralized system and uh man love that again guys get the book the price of tomorrow we'll put it in the show notes um jeff how else can my listeners find you probably just best on twitter at jeffbooth on twitter okay jeffbooth on twitter and we'll put that in the show notes as well jeff i enjoyed it we'll have to do it again um as as the noise and the voices um begin to turn their volumes up i look forward to having you back on the show and we will we'll turn down the dial and give truth one more time thanks quick hey jeff it's been a pleasure we'll talk to you soon hey i hope that this podcast with jeff booth has been impactful for your investment future if you're interested in learning more about bitcoin if you have interest in just seeing how do you do it what is it we have a live webinar coming up and we're going to show you how you can actually invest in bitcoin with us so what i want you to do is pull out your cell phone and text solomon to 31996 again you're going to take solomon to the phone number 31996 and then we will get you the details for that live webinar until next time this is another solomon investor podcast signing out to your [Music] success you

2021-03-26 06:39

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