Peg the USD to XRP & BTC - a NEW Gold Standard
All, right I'm. Going to give, it a minute let a few people join, in I know I'm doing an early-morning. Livestream. Here, but. This. Is the time I've got, so. Today's. Livestream. It's going to be morning. With. Crypto, or morning, crypto, so. Grab. A cup of coffee if you've got one of your, somewhere. On the other side of the world and it's. 5, o'clock somewhere grab a beer, grab a whiskey, grab a scotch if, you're coming back from the bar you're. On the, you're. On the west coast you're. Three hours behind I, mean there's a good. Chance some. Some of you might be coming out of a club so anyhow. Get, it got, a couple people here joining, the stream, so far just. Gonna give it a minute then I'm going to kick off we'll. See how many people end up by joining. On this morning. Good morning pre-pro. Tuck. Thank. You for joining in. Nash, croft good morning thanks, for joining in. A little, bit about coffee. Not. Sure. We. We, started out a while, back on on, French, press and now a strictly. Espresso. I love, espresso. And it's crazy what we go through to, to, get good espresso a friend, of ours comes from overseas. Once. Every couple weeks, and. It's, almost impossible to, get sigfredo, coffee here, it's an Italian, brand. I mean, get in different parts of the world obviously and get it over in Italy and. It's, almost again almost impossible, to source over here I've checked everywhere to get it and I did find one version, of the saiga Fredo coffee, and the. Only one the best one is in the black bag and you get it overseas so he brings that over, so. Then we started looking around and we found le le espresso, which is also, phenomenal. So, if. You guys get a chance to, check out Ilya espresso, coffee there's two versions there's, a red and, a black version I think the black, is the dark roast much better than the medium. Roast so. Anyhow. I'm gonna give, it one more cinema. Actually. I don't put cinnamon in my coffee. Not, in the espresso anyways. So. Any, I'm gonna I'm gonna kick it off, starting. Early morning like this wasn't sure how many people we'd, get on but. Those, of you who are on I think we're gonna have a great chat this morning I'm. Definitely looking forward to it so. Let, me let me pull up some of my notes here that I put together I want to try to stay on topic my. My, goal is really to keep these, two 45. Minutes and under if I can hit that 30 minute mark I'm, not sure if that's, possible so. I've noticed a lot of the livestreams go well over an hour and I would like for people to have an opportunity to go back and and, re-watch.
These Live streams, after. The fact so. Praxis. Media Group yo what's up man hey, I've, got. I've. Been having some issues with the the OBS for, for, the livestream and I can't seem to put, a, screen. Share on that I want to put on so, I'm using a secondary. Laptop. Over here to monitor the streams as they come through and I'm also monitoring, the health of the stream I was getting a bit of delay the other day hey, Charles what's going on, alright. We're getting some some people here so thank, you guys all for tuning in this morning tuning, in to morning, crypto. Complaining. Going live every, Saturday morning at 8 a.m. so like I said earlier grab some coffee whatever your coffee of choice might, be, hopefully. It's espresso, because that's my favorite so this morning I do have a number of things that want to cover the. One thing that is for sure is, that the, financial world is shifting and, it's shifting at a faster, and faster pace right, now it's it's really unbelievable. When. You look at what's happening in the news and then, you make some you. Draw, some conclusions. About what's potentially happening behind the scenes we've, got some great stuff. Happening at the at the government, level but. Before. I get into my, topic, of today and really, what, I want to talk about is digital. The digital asset. Gold standard. Uh-huh, but holy. I don't know if you guys saw what happened, it. Was announced yesterday but, this really started back in December a. An. Exchange, up in Canada, let, me say I pulled up this I pulled up the article here just. To get it quadriga. What is a quadriga, CX. 145. Million, dollars, USD. Which. Was a hundred ninety million, Canadian. Dollars lost. Just, gone the, the owner, founder. Of this. Exchange is. Over in India and he. Dies and he. Took the password with him I mean the one thing that we that, we all talk about is, securing. Your own digital asset, we. Talked about using a ledger I mean what a what. An amazing, ad for having, a Ledge and keeping control, of your own digital assets, really. Unbelievable. I couldn't believe I'm reading this article this, was on February 1 so. I guess I was yesterday I'm, sometimes lose track of time but, I can't. Believe it I mean this is the exchange itself in, terms, of liquidity at this point has the equivalent. Of two hundred and eighty six thousand. Dollars they. Misplaced, oh here. It is it owes two, hundred and sixty million Canadian, so 198. Million, 198. Million dollars, that, is lost, it has nothing. To do with hacking he has everything to do with the, owner and the founder of this exchange, dying. I mean that this is unbelievable. And there was no backup plan I mean, that is to me you, know, it's just astonishing, I, can't believe it and, then I look. And you think about it and you think about the exchanges, that you're keeping your, digital assets on what's even more astonishing. And I'm looking at this article I don't see it specifically. In this article but. They said it was a combination, of fiat. Currency as. Well, as digital asset. That is just gone lost, and the wife has. Been going through they found his computer and, his computers, encrypted, and so, there's no access to his computer no. Backup plan on codes you, would think they, would put a back-up plan some. Contingency. But, this really shows, you, know you can't have faith in. In, these exchanges. You, know something like this happens, I believe, that you know there are some if you look at like a by Nance if. You look at you. Know there's obviously some negativity, that goes around the. Word coinbase. But, if you look at coinbase if. You look at uphold, there, are some major exchanges, Gemini, you, would anticipate, you, would make an assumption, that, these. Large exchanges. Have some sort of a contingency.
Plan If they're CEO, all. Of a sudden disappears, one day if they're let's, say a CEO, of one of these exchanges gets, kidnapped in this situation, quadrant, will cry trigger CX. Gone. Everything, just wiped out not know know hacking, the. Owner the, founder simply, just dies and takes the secrets with him I mean that is. Unbelievable. I mean, I just I can't get over that fact you know and so I really, think you. Know every day that I that I've that, I decided, to get a ledger I have, two Ledger's now, move. Digital assets off onto them and. So I. Just. I can't say enough about that that's, just when I read that yesterday I was just like oh my god that's insane, absolutely. Insane, I couldn't imagine being one of those guys up in Canada and thinking. Hey all my digital, assets safe but even to keep fiat. Currency, on that, exchange I mean I, just. It's just gut wrenching to see something like that happen, then yesterday, there is also an announcement, that, that. Banks. Over, primarily. Over in Europe, are being, hacked, via, the, two-step, authentication. Via. Cell. Phones via mobile, the mobile, app there's an open, back. Door on the, mobile phones on the mobile phone networks, that's, allowing. Individuals. Hackers, to get into banks so you think your bank accounts. Are saving your cash is safe granted, it in, that scenario as. They're empty now bank accounts, not. I'm not talking about digital assets, but. They're empty now bank accounts, because they found a backdoor to mobile. 2-step. Authentication, to. Gain access to, people's banks, and, it's primarily over in Europe it's not happening, in the US we, don't have that I don't believe, we have that same issue, but that backdoor was put in so, the, government's, can then monitor what's. Happening. Transaction. Wise, now. They. Try, to and. This is one of the one of the areas. That you. See I want, to call it flood in the media. Negativity. Against, digital. Assets, and they and they single, out the. Hacking, of certain, exchanges, but here we are we have banks, that are being bank accounts being emptied out be. In and again using just, standard, mobile. Application. You know and and bypassing. Is two-step authentication process, and, emptying, out cash out of bank account yet, again you know that that's just insane, to me stuff. Like that's happening, more, good news though another news, tidbit, here more good news that, came out, on. The, 31st. I believe there. Were two more, bills. That were sponsored, I thought I'd pulled this up here. So. A - two more bills sponsored. By Democrat. Republican. Darrin Soto of Florida, and. Was co-sponsored by. Two. Republicans. Let. Me pull that up real quick hang on one second, I'm gonna type that in here let me just look it up let's.
See It was HR. 922. In, the 116th. Congress, if you look, up the the wrong conga, congressional, session. You're gonna get the wrong information, but. Here it is so. HR. 922 there, were two bills that, were just proposed. By. Darrin. Soda by congressman, Darrin Soto I sent. Out a little, congratulation. To them the, other day for introducing, these because it's so important, and. So, ckj. Brought this up on his stream. The other night but. What's, what's great. About the. Bills that we see, congressman. Soto introducing, and you know he's a democrat we. See Warren, Davidson, over. In in, Ohio. Also. Going the bipartisan. Route. Crypto. Currencies, digital, assets, blockchain. Technology. Keeping. It in the u.s. is a bipartisan. Issue this, is a revolutionary. Technology, that has to the, US has to stay ahead of the game we, led, the. The industry. When, it came to when, it came to the, internet revolution. There's. No reason why the US shouldn't be a leader, in. The blockchain. Technology. Revolution. And so. The. The Congress, and right now is really standing, in the way of progress. For. The u.s. to continue, being. A leader and to continue, being competitive but, here's Darrin, Soto many. It was a bipartisan. Bill. Sponsored. By. Let's. See here we've got Ted. Budd Republican. Out of North Carolina, we, have a co-sponsor, with. Warren. Davidson, out of Ohio and we have a cold another co-sponsor, another Democrat, out of New Jersey, bonnie, watson. Coleman, and so this was introduced, on the 30th. And. So this is just fantastic so, this. The the topic of HR, 922 to, promote fair, and transparent virtual. Currency, markets, by examining, the potential, for price manipulation, and. Then if we pull up, 933. Let's. Look up HR 933. This. Also a, very important, topic so. Let's, see let's, see if it came up what. Did I type in. 933. 116th. Um-hmm. All, right let me look here hang on one second. We. Just type it in the, browser so I'm gonna look up HR 9 33 and, the, 116th. I meant, to pull this up ahead of time before the stream, started, let. Me look over who else joined in Atilla Budaj, from, Hungary I love. When I see people from other parts of the world logging. In joining, in. Hungary. Is a place I haven't been yet I haven't. Traveled much into, Eastern, Europe but I've been. Pretty much everywhere. Else so, welcome. From Hungary. All right so let's see HR, 933. Let's see what we've got here, this. This one I think is important, note, this is not the one oh, not. 933. That's my problem it's 923. All. Right let me let, me redo this one because. We add 922, and 923. Not 933. All, right let me go back here here, we go 923. I wish, I was sharing this screen, if you guys go to congress.gov. And. You can look up all the different bills and do some research on them but the 923. Is is really the the important. Bill that. They're that they're that. They introduced, I'm, sponsored, by and this one had a slightly, different co-sponsor. Base but, this is to promote United. States competitiveness. In the evolving global virtual currency, marketplace, I think, 9:23, is, probably one of the more important, bills because, this is basically saying we, got to get our act together if we don't get our act together now it's. Gonna be way too late so, Darren. Soto. Co-sponsors. With three Republicans. At ed bud of North Carolina Warren Davidson, again out from Ohio and Tom, Emmer from. Minnesota Republican, and Tom Emmer just introduced. A bill a couple, weeks ago as well, so things, are picking up which is fantastic, you know I'd love to see some.
Some, Progress, being made at the Congressional. Level it's. So critical. And. So let me let me take a look here take a little pause get some more people logging in or. Commenting. Yeah. Again yeah I would love to visit. Southend-on-sea. England. Love. My strength thank you I appreciate that a lot, Northern. Michigan I used to live up in the Detroit area so Joey. One three five eight that's awesome, what, part of northern Michigan. South, Carolina, fantastic. In, there, love. South Carolina. Alright. Southern, Isle. Of England I've been, all throughout the UK. My, favourite place I love going over to Ireland. Been. Throughout Scotland, been all throughout England, a fantastic. Place haven't been to Wales yet though. Um Attila. Very, good tops I appreciate that I really, try to stay on, interesting. Topics it's you know I try to avoid fluff, um, you know that that always kind. Of bothers, me a little bit when you know you. Go on you want to watch something, important. Watch something interesting, learn something, new and. Then it's just a bunch of fluff and really, you don't get much out of it so I tried to do my best introducing. And you know hopefully the, people appreciate. It so I'm glad to hear that you guys appreciate that Southampton. UK, fantastic. Fantastic. So that's, great I love seeing again I love seeing the the international. Viewership. That's, fantastic. Anybody. From India let me know, Ben, over there as well Ben all throughout India a lot of great things happening there. India, even. Though they're there I, think. We've seen some stuff in the news over in India that and. And I made, a video on this a while back I don't know why I'm kind of sidetracking on India but. I believe that India, could really, make a huge, impact, in. The blockchain and, the digital asset space and if there's any country, in the world that, can, benefit, from, this. Technology and. Benefit, from digital. Assets, and benefit, from a revitalization. Or. A. Burgeoning. Of their of their economy, at the lowest levels of India. Is it and India's, made some really interesting changes. When. It comes to digitizing. Their, own currency, and removing. Fiat, currency, out of the market, this I can't have to go back and see the video that I'd made on it helped you know when it was exactly, but they had removed like 75%, of all their fiat currency, from. The mark and there's a huge, population, over there was, like 1.3. Billion people and. About 700, million of them live in absolute, poverty, um and, then there's this upper class which is like two hundred two hundred million, people in India live, in this upper class I mean it's unbelievable you, know the size, of the u.s. is what like 330 million and almost. The entire size of the u.s. is an upper-class wealthy, class over in India then you have a growing middle class that's just booming, over, there and then you have this impoverished, class that's it's, like 700 million, people I mean it's astonishing, and when you go over there and you see the poverty but, these are the people that relied. On fiat day-to-day, they, can't even afford to open a bank account let alone did they trust the government enough, to open the bank account but the fees would kill them because you, know we're talking about people that make maybe you, know the equivalent, if. They're an engineer they're college educated, they might make $200, a month I mean it's it's unbelievable over. There. Leviathan was that Lavazza, espresso. I think I've had that before - that's pretty good. Yeah I've been focusing, on the Ilia now now that I found a source for Illya I went to they have a cafe. Over here in Ilya cafe, in. The Detroit Airport there's, a Nili downtown. Over here there's a nilly now. Near, the house they, opened up a nilly.
And I started seeing illy popping, up all over the place typically, over in Europe you get the illy coffee now. I found it on Amazon and I hope it's real because, but. Anyhow. It's good stuff. All right so sorry, I sidetracked, into into. India but, another. Another, news. Item that just came out and this is to. Me this really, is super. Super meaningful. The. Other day I put. Together a video on, what's. Happening, at, the state level, and. So Wyoming. Had, proposed, a bill a, couple, days or a couple weeks ago I think was second, week of January, to. Recognize, digital. Assets, as money and. January. 31st always talking about a couple days ago, Wyoming. Is going, down in US economic history. So, our. Children. Are, their children, when they go back into reading in the history, books they're, gonna see that Wyoming. Which, is crazy, you, know you think about it what else you know you don't hear about Wyoming. And the news too much but. Here's Wyoming. Recognizing. What I believe it's the first state, to truly. Recognize. Digital. Assets, as money we, talked about Nevada. The other day what. Nevada has done to. To. Cut. Out taxes. On anything. To do with blockchain. Digital asset so. And, making their state more friendly, the state at the state level, we're seeing a tremendous, amount, of competition. To. Attract. This. Technology. And attract companies, that, are developing, this technology so, the state level we got to keep our eyes on the state level, the states have. The power to. Do and to, and to create. Their. Own. Their. Own regulations. Over. The, digital assets space obviously. The Fed can. The. Fed is the only one that can coin money, but. Here we are we, have Ohio. That. Is now allowing, the acceptance, of Bitcoin, to. Pay taxes, that was. That was tremendous. You know the fact that Ohio, was the first to. Do that Nevada, I think there's an, the dates are slipping out but I think was in 2017. And then when, they started initiating. Some, of their friendly space. For for blockchain, and did you I so they want to attract the companies to. Nevada Nevada there's. A. Multi-billionaire. Over there that that bought up so. Whatever, amount, of space, to create a blockchain, town, which. Is unbelievable, and they're gonna start construction, on that Wyoming. Is going the direction of a Malta. But. Here in the US so if we see Malta super, blockchain. Friendly and companies are moving from all over the world to go to Malta, we saw the Marshall, Islands, is, now. Accepting. A digital, asset they have a digital currency that's sitting side-by-side with, the US dollar because, they want to decrease the, reliance, on the on the fiat and the IMF was speaking, out against that but, here but here in the in the US were, bogged, down by, the lack of SEC. SEC, clarity. Were bogged down by the fact that Congress. Hasn't taken the, initiative, to vote, on the proposed bills but we're seeing these the bills coming from multiple different directions, as we just talked about with, Darren Soto and soon Warren Davidson, will reintroduce. The. Token, taxonomy, bill he has not reintroduced. It yet but, when they do it's, gonna have some modification. And. It will probably have a different name I would assume because the. Token taxonomy was for the 115th. Congress. And now we're in the one hundred and sixteenth, a session. So we. Definitely should. See some some great things happening over there let, me take a look over here. Sorry, again I got a look at the other the. Other screen, -. Croft over in Texas, man, Texas is awesome - I love going to Texas, that's. One area that we had actually planned. On moving to at one point, been. There Houston. Austin. Been. To Austin multiple, times a. Great. Place definitely. Loved it over there. Juliane. From, the UK. Um all. Right I'm, gonna I'm gonna focus let, me if, you guys have any questions as I go through this I'm gonna get into my topic, here in a minute um, and then I guess we're already at like 25 minutes, I said. I wanted to try to keep these to 45 we'll. See we'll see where the time, goes I definitely, no, more than an hour I definitely want to cut it cut it off at that point but. Let's see there. Was a question where did it go here we go okay, Julian, what's. Keeping the ripple price suppressed, now I covered this the, other day on. A video. I've talked about this in the past on videos in.
My, Opinion. And. It's strictly based on my own opinion. Observing. The marketplace, but, I believe that the price of, XRP, is going to increase. As we. See an increase, in actual. Utility. Of. XRP. So, news. And price. Really. Don't coincide with one another so if we're, talking about, Amazon. Google. Facebook. Or. General. Electric, GE or. GM. Or whatever, it might be we're talking about a corporation. With. A stock, as. Negative. News comes out on the company, the. Stock price. Will most likely reflect. The, positive, or negative news and. So we see a lot, you know we talk about manipulation. Of the, market manipulation. Of pricing. Right, there's a lot of talk about manipulation. Of the pricing, on digital assets, but. There is 100%. Of, a. Concerted, effort and, this is my opinion and this is through observing, my. Wife was investing, you, know quite a bit also and and, she kept telling me that this was what, would happen I said no that that's not it and I was, monitoring, everything but, you know when when you go in and trade and you see the media and you, and and the media for them the media FOMA whatever it is pro con by, the time something positive. Hits, the media like a Jim Cramer show by. Time he's talking about it you. Need to be out of it because it's too late. Everything. Had already happened with. Whatever that stock is if there's negative, media attention look at General Motors right now I have, not, even invested, in General Motors anymore. But if, we look at their, share price on Monday. And yesterday. They announced they're laying off 4,000. People almost. Guaranteed, that their price point should go down there'll, be some negative. Impact. On theirs, on their stock look at them two ge ge, took. A took, a nosedive I mean their business is a disaster. Right now their. Stock price went down considerably, but, then. Thursday. The. GE stock, went up by eleven twelve percent because, there was some positive news so I guess my point here, is positive. News negative, news is going, to impact, a stock, but. When it comes to x RP x RP is not a stock it's not a security. You're, not invested. In x, RP with, the expectation. That as as, news and good things happen with ripple, that x RP is going to reflect a positive, or a negative price. Impact as a result of, the, positive, or negative news that is reflected. Within ripple, so I think that's that's the differentiator. And if they were tied, together then, at that point there would be it. Would be more evident, and this I think it you know if you go back to the Howie test as well and we talked about that on a video the, other day but. At that point X, R P would be a security, because, there would be an expectation that. As, good. Things happen within ripple, that we're expecting a. Percentage. Of that increase, and that percentage would then be given through, X, R P an. Increase in the value of x RP now the. Expectation, of, increase. Of the value, of x RP and again this is my opinion so take it for what it's worth, you.
Guys Can do your own research and, figure it out but x. RP should, increase. In. Value as. More. Banks, begin to use X rapid, when, more companies, begin to use X RP, but. We just saw the tie-up with. Swift, and r3, who, knows how long it's going to take for them to roll that out is it a year is it two years I don't, know how long it's going to take for a full implementation of. Software. And in an organization, like Swift, when, we talk about you know implementations. And rollouts you know for them to use that, that, solution, but what we do know is that with. With. That, tie-up. Swift. Will inevitably. Be. Using XRP as the solution, through r3 because we know r3, through kurta is using. XR P and n was the first primary digital, asset that they're that they're tying, into into that into that platform so, obviously, there's other solutions, out there there's other options, other digital asset, options but what we know and I talked, about this the other night and. And I talked about also on another video kind of one coin. One. Use case but. The point here is that XR, p was designed, it, was developed. With. The intent of, being. A solution, for. Cross-border. Payments and, and, mega-sized. Cross-border, payments we're not throwing about micro, payments that wasn't the concept, of its development, was to allow banks to move large sums of money within. Seconds, and they talked about what three seconds, you can move millions upon millions of dollars that's, the power of that of XRP, swiff. Knows it the world knows it the, bank's know everybody, knows the power of XR p but getting to your point there is. Is, or, when, will XR, p increase in value it's, a matter of adoption, and utility, once. It be get is used, the. Value is going to go up based on scarcity of availability. Based on the requirement, and the need of liquidity. By. These banks and that's again the premise, of XR. P is is as. A solution. For. Liquidity. But also as, a solution. For, settlement. So, if, we're moving these large sums of money and we're talking about what what, is it you know I forget, the exact number was it five trillion dollars, a day or moved in cross-border payments, so if XR b becomes the epicenter. Of, these. Cross-border, payments who. Knows where the you in the price-point can go it could, go, we saw all sorts of people talking. About, numbers. Last. Year the 589, s and all of that that we, have other people talk about the potential, of it, exceeding. It could go to $1000, it could go to $2,000. Who knows maybe I'll stay at 30 cents maybe go to $1 I don't. Know if we if anybody, really knows, at this point especially on our side that the guys over at ripple have an, expectation, of, where it's going to go I'm sure they do do, the banks have an expectation of, where the value is going to go I'm sure those guys do as well at, the government, level I'm positive, behind, the door you know behind behind, closed doors third, they're talking about it they have an, idea.
Of The direction of where the digital assets, can go so. You. Know so that's so that's kind of that take on it let me take a second. Here when we look here. Let's, see. Where's, my. There we go. Keep, buying this trying, to back up sorry. Donegal. Ireland. Lisa. Flanagan. I think. I've been through Donegal, I love, going over to Ireland. That, place is awesome like. I love going to Glen Tulloch I did an accidental hike, one. Time through. Glen Tulloch through the mountains over there it was, not, intentional, but, we. Were driving, from Dublin's. Coming, back over from from. Germany, and we decided to do a couple days stopover, in Ireland, drink in Dublin drive, around a little bit I was with a co-worker and. We. Said hey let's just drive and see, what we can see and we ended up at glendalough. And then. We started, walking looking, for some views and both, of us are in, good, shape, he's a marathon. Runner I run a lot I work out a lot but anyhow, so we. Ended up hiking up this the mountain, up there we're seeing people coming down the, mountain with their backpacks, and, hiking gear and they're, looking at us they have maps and they're looking ATS like we're kind of crazy we ended up doing this I don't know it was like a three hour mountain, hike all the way around and people are struggling we kind of ran through this the, hike but it's unbelievable. I love going there and my. Wife son, and I we go over to Ireland every, every chance we get I love, it it's an absolutely, fantastic place. Demas. Over, in Melbourne Australia. Haven't. Been to Australia yet but I heard, it's a phenomenal. Place. Was, that Germanness, tan. A. Butterfly. Trader. Let's, see I'm just gonna scroll through see. What what we have here, why. Isn't their utility, yet that's another good question but. Utility, is coming I think it everything takes time yeah, if you look at the rollout of anything. You want rollout of software, rollout. Of whatever, it might be you, know what we're talking about a, change. Complete. Change I mean it's again it's a revolutionary. Change even. For the banks that move. Away from a swift, and to go into a digital asset based. Solution.
I Think, is is monumental, and I think we're gonna start seeing utility, it's it's happening, around the, world. So. Let. Me shoot. These uh. You. And a is coming through here I'm gonna try to get back to it here in a second. So let, me let me move, on and I want to try to stay a little bit focused. On point here, let's. See here okay so. So. We, talked about Wyoming we got into. Some. Sidetrack, a little bit on XRP which is awesome, now. Digital. Assets, in general, are. Really, moving. Towards. Global. Adoption at the highest level, so we're talking about XRP we're, talking about what's happening, with the banks now. Wyoming. Is just, recognizing, digital assets as money Japan. And Germany have, already, recognized. Digital. Assets, as money. You, know so we're. Seeing nations, and these are leading, nations, right Germany, is is the leader the economic, leader of Europe, Japan. Has. Always been the, economic leader, of Asia. Although, we see where China is going now China's, is a powerhouse. India. Can be a powerhouse, but. Here's two major countries. That have already recognized. Digital, assets as money so. Hey if you if you guys are just tuning. In. My. Name is Jeff with, a hotter report, this. This, stream I'm going to be doing this live stream morning crypto, every. Saturday, at 8 a.m. I. Think it's a great time so. Anyhow. So let me turn, towards, the topic, of today and then I'm gonna get back into and. I'll. Get back into the chats so I just picked up someone's drinking a Newcastle. Newcastle. Is great Jade. At. That time of day already I was thinking a little bit of uh of. Jameson. Or something in the coffee would have been good a little bit too early, we're at the Irish pub last night drinking. Tealing, small-batch with, with Guinness and, that was really good so all, right let. Me see here so really, the topic of today and so if I can you know get back into that a new. Gold standard in, the making, alright and so this is really, again we're, looking at the globalization. Of digital. Assets. We're, looking at where XRP, and big, coin are, going, the. Feedback. At the at the national. Level at the, at the largest, the. The, within. The largest organizations. Those. Who control the, economics. The banking etc but. Tim, this is my opinion I I firmly. Believe, that these, two, primary. Digital, assets, are really, in, line. Right now to completely. Disrupt. Global. Fiat and I, also believe that these two digital. Assets, are going to be center, stage at. Least for right now and and, the reason why I can say that if you look at what's. Happening like in Ohio they're accepting Bitcoin, is a form of payment for. Taxes although it goes to another exchange I brought that up and there's, so much discussion, over a Bitcoin, so. So. As government's. Transition. To accepting. Digital. Assets. Of. You. Know again. The payment, like Ohio, for taxes, Wyoming. As a. Currency, or. A. Recognized, currency, we. Have the Marshall Islands that has their own currency, we, just saw another stable, coin the other day that was pegged to Bitcoin.
Not, Paid to a fiat, currency up, now. Potentially. The. Fed. Recognising. Or the government. Recognizing. A new, gold standard for, the, US dollar fiat, now, you. Know I don't want to discount, any other the potential, of any other digital assets or blockchain, technologies, I really, want to focus in on two of the most current. Globally. Accepted. Digital. Assets, with, really. At this point the most adoption. Potential, now it might be a little bit crazy to talk about. Digital. Assets, as a gold standard. But. I think, if we look back, there. Is an. Argument to be made that. Digital. Assets, are really the perfect, solution. To. Create, a gold standard not, just for the US dollar, but, for currencies, around, the world so, if we look at today's, fiat, right the US dollar as most other currencies, around the world aren't really backed by, anything, other, than, a promissory. Note that's, issued by the government. And accepted. By the public as a note of value so, if we take a dollar bill, I'm. Accepting. That dollar bill because, it's. You, know it's a promissory, note by the government, that it has a value but I accept, the value and the person at the store or the individual, I'm giving it to also, has, to accept the value of that note as a dollar, for, goods exchange but there's nothing else backing, it up it's basically just paper and I'm, saying this has value, for whatever, goods if you're gonna sell me a bottle of water my. Dollar is now worth that bottled water and from, your perspective you're, selling me the water then, you're also seeing that same value now the. Gold standard, which was dropped, by the US years. And years ago back in 1973. Which, pegged, value, of the. Dollar, to, to, gold at that time right that was the gold standard and it was based on X, amount, of value, or weight. Of gold. Was. Valued. At whatever, amount, of US dollar let's, say was sixteen hundred, US. Dollars per whatever, ounce of gold, now. When. It comes. To. To. This that is topic, so the question, that. I want, to throw out there and to me that I think is it's an interesting question to talk about which. Is really. My topic, now X RP and Bitcoin. As a gold standard for a new economy, should, the u.s. return. To a gold standard should other countries, return, to this quote-unquote gold, standard, but. When it when, it comes to actually. Returning. To. The. Gold standard should, it be a gold, backed US dollar or should it be a digital, asset gold. Standard, now, when we look at this. Argument, there's, there's, really. There's. Two parties, in this argument there's, those that are opposed, to return you to the gold standard and there's, those that are in favor of returning, to the gold standard, those in favor there's. Some really important, people in, government and in business that. Believe that returning. To the gold standard is important, those. That are opposed to it, claim. That there's, not enough gold in the US holdings, to support the US dollar to, cover all current, global transactions. Pegging, the value of US dollar to gold held. Could. Limit the US government, aid in adding. Liquidity, to the market in times of financial instability, there's. All these different arguments. Opposed. Makes, sense, all right now, gold although. Limited, in in quantity, you. Can only hold so much but. Then you have to stake a value, to it it's. Not transferable. It's not movable there's. All these other things that go on with with, gold and in terms of how to to, maintain it etc but. But. That's why we're, gonna talk about the.
Digital Asset, gold standard, so those, that are in favor of, return. To the gold standard a state, that pegging, the US dollar to a gold standard would, limit, the, runaway, nonchalant. Printing, a fiat so. Over the years that's, what the government's do oh we need more money let's print more money all, right so now you print more money there's more money available the value of it is intrinsically. Less. Because. Now you have more of it now it doesn't make any sense so the, inflation, on the cost, of goods is this. Bottled water is this, bottle of water more valuable, today, than it was 10 years ago it's. The same bottle of water you. Know why does it now cost me more. Money, to. Buy this bottle of water than it did 10 years ago why, is it that I could have bought this for 50 cents now. It cost me a buck 50 you, know and so that has to do with really, the rampant. And. And, and the nada is I just read the nonchalant, printing, a Fiat to, make up for. Economic. Woes and that that's these these you, know those. Those with in government, and for. Years it's been mostly. Attorneys. That. Had that run, Congress that. Run, for Congress that get into political office that, get elected, that. Go to Senate, the, majority of them are attorneys. If I'm going to get my preparing, my taxes, or if I want to investing, advice the, last person in the world that I'm going to go to for, economic, advice is an attorney I'm. Gonna go to a CPA, I'm, gonna go to someone that understands, stocks I'm gonna go to someone that understands money, but. I'm not gonna go to the attorney to get financial advice same. Way I'm not going to go to the financial guy to get legal advice but, why in the world are, we electing, attorneys. To, make decisions, on economic. Things. That, impact, our. Economy. It's unbelievable. And they sit up there and they talk then, they listen to their experts, and then, they make their decisions, but. What other decisions, made on their, thought process, if you go to law school when you study law. Your. Thought process, is completely, different than, those who, study. Money, those, who invest. Those, who create, business. Owners and there there's some attorneys out there that could be phenomenal, business owners, that's like taking a doctor I'm not gonna go to a doctor and get economic advice. There's. Some doctors, that, are phenomenal business, guys there's. Quite. A few doctors that, have no clue about business whatsoever, you. Know so so. It's just amazing, to me so anyhow, so, those in favor again return, to the gold standard. Begging. The US dollar to, this gold standard would. Limit the runaway nonchalant, printing a fiat which. They argue, will also inevitably, lead to rampant. Inflation and. Undermine. The stability of the US financial system, so, again this, bottle of water. Ten. Years ago maybe I could buy for 50 cents today it's gonna cost me a buck fifty that's. Because, of the. Mismanagement. Of, the, economy. At the highest levels, in, government. And and, their idea, to solve all the woes by. Printing, more money or what's. Their other solution, let's tax, everybody, let's. Let's take more money out of your pocket, right, now you pay, 35%. Tax forty. Five percent tax on your invest, on your. On your, income then. You have property. Tax then. You have sales. Tax then, you have use. Tax then there's tax for your cellphone bill then there's tax for, your for, your cable bill, then there's, fees. To, register your car and then there's there's so many taxes, if we. Really, break it down and we look at how much money, is taken by the, government in terms of taxes, if far, exceeds. What. You're paying on your income it's unbelievable. And yet they want to take more, money you see the arguments, right now in Congress. And some of these freshmen, Congress.
Women That are calling for ninety percent tax on wealthy, where, in the world do they think that jobs are made what, do they think these wealthy people do with their disposable, income do they keep it in a bank account should. It be redistributed, these, people that are at the top are going. Out there and buying ridiculous. Things, they might buy ridiculous, real estate they buy ridiculous, commercial, buildings that are rented back out to help people. Work. Put, people to work they help people invest. In new businesses, that's, where all this money goes it doesn't just sit in a bank account I mean that's insane that's, absolutely, insane the. More you see these people on the on the Left that, are moving this, country, into fascism. And socialism, and yet accusing, those on the right that, believe in it. In a limited, government in limited, taxation, let the people keep their money if I want to invest in digital assets, and I want to make money from digital assets what businesses. Of others. To then tax, me every, single time I make a transaction. With a digital asset what. Did I just do I created, money but why, in the world does, anybody deserve, a percentage, of what I just made that makes absolutely, no sense and it's. Not in the government's, not backed up anything because their way of making more money is taking, our money and form in the form of taxes, or they. Print more money it just, it just makes no sense now, this. Entire topic, my thought process, on this came. Out of reading, an article and, I read this years ago and it just stayed in my mind for, so many years. So if you follow, Steve. Forbes, know you. Guys probably know who Steve Forbes us right so Steve. Forbes, this, guy is absolutely. Amazing, he. Ran for president a, couple times the. Guy he, runs for magazine, the guys got. Economically. This guy knows what he's talking, about right he, there was an interesting interview, in, from. 2012. So seven years ago Steve. Forbes was was interviewed. Discussing. Specifically. Going. Back to the gold standard should, it happen could, it happen and. And his. Point. Is that yes. This, is exactly what, we should do so I want to I'm gonna read through this we're, already now sorry, may I got I kind, of ran away with everything now, we're at the 50 minute mark I. Might, be going a little bit longer than I anticipated here.
But. That. That's how it goes when you when you get on a rant I'm, gonna try to minimize, my rant so that I respect, everybody's, time as well we got some mail great comments, coming through here, I'm. Gonna try to go back and respond. Man, Rob cash thanks, for showing up if you guys tuned. In I know Rob. Has been super, busy working. But. Man your show is awesome if you guys haven't tuned in to his YouTube channel, tune, in to see Rob cash awesome, awesome, stuff that he talks about super. Fired up and motivated on. XRP. So. Like. I said I'm gonna try to go back up through here and and respond, but let me get back into, this what, I'm gonna do on a dissect. This, interview. A little bit I'm gonna, try to wrap things up here hopefully, in like. 15-20. But. So, let's, see here. Go, back to I'm trying to stay back on topic so. So. The point, here is Steve. Forbes, and this interview is talking about it return to the gold standard there's, others in government others, in in economics. That believe that we need to return to this gold standard now if it does happen what about a digital gold standard, as I just mentioned earlier on, could it be based, on. The US dollar to, xrp. To. Bitcoin, or maybe, even a basket. Of digital. Assets, so we were not relying. And and, putting our, national, security at, stake. By, any form of manipulation, of. Other players, within. That. Space but as a country. Imagine. The, amount of, digital. Asset, that they would that we need to accumulate, and hold, and the, value, there of, for. These, individual. Digital. Assets, would be phenomenal, right. And and the. The and at the end of the day though. We'd be securing. Our, currency. Our national, currency based. On something that is truly, limited. In quantity. Gold. Is never limited in quantity, because you can keep mining gold there's, gold all over the world and. Then there's the fight in the control and we see countries that are attempting, to a mass gold again like, Russia and China and others, but, let's make take, a move into, the digital asset, gold, standard. Now. Really, think about all of this while we review the article so again, this was. Published. Let's see July. 2012. The. Writer, Ron, Hera, the title. Of this article was Steve Forbes how to bring back America. Now I don't like going through and just reading articles, but, this article, is so important, you guys can look it up you can read through it as well I'm gonna read through parts of it I want to dissect it I want to comment a little bit on it but. Again, Steve. Forbes, you know who is Steve Forbes, so, let's just do a quick recap editor-in-chief. Of Forbes magazine again. Republican. Presidential candidate, in 1996. And 2000. When, he was at Princeton he was the founder, of business today magazine which, is the largest business magazine, with with student, writers in. The country he, served in the Reagan administration. He, supported, many political. Candidates, over the years and he's a huge, supporter. And proponent. Of the flat, and that could be a completely, different video, that we, can have and, discuss, I am, planning a planning. On a video, based. On flat tax, I've, had people present. On flat tax before and it's it's actually it's. Pretty it's pretty astonishing, so, Bob now again. The hair so here this is hair a research, newsletter. Let. Me let me read some snippets, here and. Then, let's. Let's dissect a, little bit so let's see what's. The time here we're almost at nine all, right so. They start out thank you for joining us today with, the US economy struggling. To recover from recession, and financial, crisis. What. Policies, would you recommend again this is Harry research, active. Asking. Steve Forbes so Steve, Forbes, responds. And this is great this is the financial crisis. This is as we were coming out of the. The economic collapse. Really, globally, so. Steve Forbes says the only way to recover is to, stabilize, our money have a gold, back dollar, simplify. Tax code and a return, to a free-market. 100%. Right, on the money, unbelievable. So so. The follow-up. Question then is. You. Advocate, the gold standard, that was Hara Steve, Forbes says if, there's any better system, to. Ensure a stable, value, of money it's yet, to be found, what Steve Forbes didn't realize, in 2012. Hang one second. What. Steve Forbes didn't realize in 2012. Is that. The. Other system, was founded. Already the, other system, was, in development it was an incubator, stage, Bitcoin. The. Beginning, of digital assets. 100%. Was. Starting, at that. Time. 2010. The, initiation. Of the. Digital, asset, revolution. That, had started, at that point now, we're in 2012. Steve, Forbes wasn't aware of it or if he was but. If. There's any better system, to ensure a stable, value for money so, he, again he wasn't looking.
Forbes. Statement, is so. Relevant. Now, there is a better system. A much. Better system than the gold standard, and that is, and that is. A, system. That's backed by a digital, asset gold. Standard, now, choosing, the right digital, asset, again. Bitcoin, bitcoin. Is, a, store. Of value there. Can be some argument against. A mined coin that can be easily manipulated, by. Foreign, holders, by foreign miners we know that the majority of the miners are over in China. However. Once. You accumulate. A certain. Amount of, Bitcoin. That is out there, then. Now, you control, uh you, basically control, that that value. Of Bitcoin. Now, if it's divided, out the values go up the, government, if they were to back it with a Bitcoin, let's say there, would have to be obviously. The guys are much smarter than I am I'm figuring out the, balance, of what you would have to hold, versus. Value and then, you would actually be able to push. Towards, setting. A value somehow. Based. On based on holding, and trading etc, XRP, the same thing so. It doesn't have to be. It. Doesn't have to be a one-for-one obviously. XRP. Which is decentralized. XRP, is in significant. Abundance, XRP, is easy to hold and quickly exchangeable. XRP, value doesn't have to be one-to-one. So. The. Value, of XRP, could, be allowed to breathe and grow, under. This digital gold standard, now Forbes, continues. For. Nearly all of America's, first 200, years the. Dollar was linked to gold since, we went off the gold standard we've. Had more and more financial. Economic. And banking. Crises. That's. A hundred percent spot, on and and. We talked to we just were talking about the fact that there's nonchalantly. Printing money what, happens when you nonchalantly, print money you, create economic crises, what, happens when you let the, the. Banks run. Rampant, and make their own decisions, you. See what happened with them mortgage crisis, now there. Is a point there because you can get in do your own research on, this and look it up the government, is 100%. Tied, to, what happened, at the banking crisis level and the impetus, of. The. Mortgage crisis, starts, with the government it starts at the top they can't pass the buck they're the ones that control the banks they're, the ones that control the regulation, they're, the ones as we know we're. Seeing it firsthand. With. XRP. They're. The ones that that monitor, they're, the ones that approve, they're the ones that give the clarification. Again. They're the ones who regulate, they're the ones who make the decisions, on what, happens with the banks and if they don't like what the banks are doing they. Tell the bank's hey you know what we're no longer gonna give you permission to build. New branches, we're gonna stifle, your business or. Do, what we want to do that happened years ago Jimmy Carter started it Jimmy, Carter said if you don't write. Mortgages. To those that, can't afford them you're no longer gonna grow that's, a topic for another day, now. So. He continues. Let's. See here for okay so for example the Federal Reserve hadn't, started printing so, much money ten years ago we wouldn't have experienced, the housing bust or the commodities, boom or the sovereign debt crisis in Europe eventually, events. Became. A become. A persuasive. Teacher, so now. A herre continues. With a line of questioning, here don't, we need a flexible money supply Steve, Forbes says that's. Like saying that changing the number of minutes in an hour would, be a great tool to increase productivity in, the economy. Manipulating. Weights and measures whether it's the number of ounces in a pound or minutes in an hour is a false, way to think, that you can achieve prosperity, all gold, does is serve as a yardstick. To measure the, value of your currency. So. Really, again per, our argument, a digital, asset or, basket. Of digital assets, having. The US dollar or any other fiat currency pegged to a. Single. Digital asset like XRP or a basket. Of digital assets, like an X RP and a Bitcoin, and others, the, single digital asset or basket, is simply a measure to. The value, of the fiat currency, and knowing, that it's backed by something real again. A digital, asset might, not be tangible, we can put on our money but you know what it's but it's real it exists, it's limited, it's accepted. By the world right now as a as a as a value it's ahead of value put to it why not turn things around but. We could take it a step further and, completely. Remove, the. Fiat currency from the equation, but. This argument, then interferes. With, the sovereignty. Of the nation so. We could say you know what we're not we're not even to transact, in u.s., dollars anymore, remove, US dollars from from the argument remove, all national.
Currencies, Fiat currencies, from the discussion. But, again this interferes. With a sovereignty, of that individual, nation so the, u.s. is not going to put themselves in a position where. They're, no longer in. Control, of their own of their, of, their own currency. So. Again the federal government, has. Reserves. The right to coin, money but. You can still peg the US dollar to, a gold or to a digital gold. So. By this standard, it, would have to really be an act of the US government, to, adopt a digital asset as the national, currency which. They could do also there, could be a u.s., dollar digital, asset currency, but again, it still needs to be backed by something, and. So that that's really the the idea here but. You, know similar to what we're seeing again we talked about the Marshall Islands with. The acceptance, of I think it's a POV digital, asset, currency. Side-by-side, with the US dollar, but that POV, that it has to be backed by something um you. Know and so and in, the same same way around you know overall. When we get to the national, level and so. That's, why we're looking at Bitcoin as an example, Bitcoin, isn't and and it's been shown over and over and over again this technology is amazing as a store value but, it isn't, amazing. Is a day-to-day, transactional. Digital asset currency but as a. Methodology. Or a method, to then backup. The, US dollar as a digital gold standard, it could be amazing. Potentially. Not, saying a hundred, percent but potentially. Or a basket, of currencies and we look at the SDR, under, the IMF, which is the Special Drawing rights and they have a basket, was at five currencies, world. Currencies, that are in in the Special Drawing rights. There's. There's so much potential, here for what could be done with the digital assets, and we're just kind of scratching the surface but, this goes back to 2012. This, article now Hera. Continues, um doesn't. Increasing, the money supply helped, to stimulate the economy again. Their, thought process, let's increase the money supply let's. Make more money let's. Decrease, the value of the paper that it's worth from one dollar we now have two dollars it's, like when you do a split in stock when, you split your stock if I have a hundred shares of stock and you're gonna give me 200 shares of stock my, expectation. Is that the price of that, stock share per share is going, to decrease um but. Now if, I hold a dollar and now you print, make, two. Dollars my. $1 is less valuable now because, now there's more of it out there it just did though concept. Just makes, no sense so. But. This is an interesting question that they brought up will, increase. In the money supply help, stimulate, the, economy again. Because this is what the US has been doing for so many years just print more money pretend. To be more solvent, it. Actually put the country more further in debt and there's, really no way to, pay for government programs, as I'd mentioned before, they have two options one option print. More money the. Other option tax the hell out of people and we, see what, they're talking about in government right now I already talked about that they, want to tax the hell out of people doesn't make sense now. Steve Forbes says the, only way to increase prosperity, is. Through innovation, and productivity. So, innovation, what. Is the blockchain space, if not innovative. Blockchain. Is the most amazing technology. Government. Needs to get their act together government, needs to put. In their regulation. They, have to make sure that they keep the blockchain technology, in the US and allow the u.s. to be a leader in the blockchain space. 2012. Steve Forbes is talking about about things, that are so relevant, to this, space we go further back we, can go way way back if we start digging into into, economics, and we, start looking at the differences. Of opinion, between. The free market, that. Allows for, innovation, and productivity, or we, can look at the government, economy, that, stifles. Innovation, and, productivity. It's a very easy discussion. To have you. Decide where you want to fall in that space I'm not, trying to offend or insult anybody, I don't care if you're a Democrat or, a Republican, economy.
And Numbers are numbers you can't manipulate. Numbers. To, your argument, it's, black and white, one is 1 2 is 2 you can't manipulate it, it is, what it is so, if you're gonna tell me that the, government, is going to do great things with, the money I give them I'm going to tell you based on evidence, in fact that that's a hundred percent incorrect. So. The, government, can do some things there's, certain. Things that we need to pull our resources for. To. Take care of we need to make. Sure our roads are good we need to make sure we build bridges we need to make sure we have the strongest military in the world those. Are things that we need to do right. Now outside. Of that we. Need to also regulate. And make sure that, the government is actually doing, it at an affordable price we. Need to make sure that the government is doing it effectively. We need to make sure the government is doing it period, so. When they tax you and they bring all your tax revenue, into one pool and then, they decide, they sit back and say okay now. The lobbyists. Come in I'm going to decide where. I'm going to divvy up your, money that, we you just worked and, slaved over. 40. 50 60 70 80 hours, a week and, we're. Gonna decide how we're going to distribute this money now, we, might even give it to other people. We're, not going to create work. Training programs. We're. Not going to help educate. People to to. Retrain, them we're. Just gonna hand out money because, if, we hand out money if we redistribute, the wealth it's. Just like creating more money what's the difference I take. Your. Money that, you work for and I give it to these. People over here that didn't work for it that's a redistribution. Of your of your of your means, that's, like printing more money well. Why not take and, agree. Hey you know what it's gonna really be beneficial if, you guys that are productive you. Guys are creating jobs we. Have all these people over here that could potato. There are physically, able mentally. Able to work. Jobs are training, our jobs are changing. Technology's. Changing. Maybe. We need to find a way, within. The government. Program, or a private program to, re-educate. These people, to, help them become. More. And. One second here stupid, pop-ups hang, on uh you. Know we need to find a way to make them more productive in, today's society we, don't need a distribution. Of wealth we don't need an over taxation, sorry. Another rant I'm sorry about that so this, really just goes back to this topic and again, I'm not trying to offend anybody if you have a difference, of opinion that's, that's fine but, again I'm just talking about it from an economic perspective, strictly. Uh-huh. So um, again Steve. Forbes he, said financial, and innovation. Has been with us for hundreds, of years, in terms of new financial instruments to, meet expanding, needs as the global economy comes, more complex. So. That was a follow up the question, there wouldn't, the gold standard prevent financial innovation.
So. How in the world is the gold standard going to prevent financial innovation. Steve. Forbes and that was his response to know of course but. The gold standards not going to prevent how, do you prevent financial innovation, by making sure that your currency actually. Has value, that makes no sense, so, financial, innovation. Has been with us for hundreds of years in terms of new financial instruments, I want, to underscore this because that's important, that statement, from 2012. To, meet expanding, needs as the global economy becomes. More complex, what. Do we have today if not a new financial, instrument. Digital assets, are the. New, financial, instrument. And they're. Here, to meet the expanding, needs of the global economy because. The global economy, is super, complex. So. I mean, that that's just unbelievable. Let's see time check here 908, so. Going. A little bit over an hour that's what these rants create, I hope people, go back and watch an hour video, because there's just packed filled with with so much important information. Man. A financial. Instrument new financial, instrument, how, about a completely, new financial asset, class how. About digital, currencies, oh it's unbelievable right. So here. We are, 2012. What's. The mindset of this interviewer, because the mindset of this interviewer, is the mindset, of these, people that are in government right now and and these others that are really trying to suppress. Our, innovation. Has anybody seen what happened in Venezuela over, the past 10-15 years, have. Any of these government. Elected. Officials. Have they ever gone to Cuba, have. They really gone to the streets have they gone to Venezuela, I know. Quite a few people who fled Venezuela. Because it's no longer safe over there I know people who, are sending boxes, upon boxes of. The most basic, essentials. To. Their families, in Venezuela, because they can't get them right now because they're not available I, know. Doctors, who have fled Venezuela. Because, it's no longer safe, over there for their families. Babies. Are dying in Venezuela. Because of this same thought process, because. Of what's happening, in government, where, they say let's tax the rich. Let's. Take away their right let's. That's in infringe. On their, rights. To. Protect. Themselves. Let's, infringe, on their rights to make more money, let's infringe, on their rights to. To. Make sure that their families. Okay, nope. Because. They don't care because. In their mind. Redistribution. Of your, wealth is all, that they care about. Unbelievable. You know I mean again. I'm not trying to offend anybody if you have if you have a difference of opinion that's, great you know this is a bipartisan. Issue we're talking about economics. Not. Talking about politics. Talk. About economics. We're talking about the well-being of our, families, not. I don't not the well-being, of the government. I don't care how much the government gets paid there get there way way way way overpaid. Unbelievable. Really, so. Again. So now Steve Forbes continues, with, this I'm, wrapping, this up so high I promise, we're, already at the one, hour plus, mark. Um and, if gonna, continue, you know doing this on a regular basis I want to have some expectation, at least to respect. Everybody's, time that's tuning in as well but many of the innovations, and this is Steve Forbes again many of the innovations over recent years however have, come about in response to, the instability. Of the dollar and other currencies. Digital. Assets. Perfect. Um it's unbelievable. Sorry, guy candy, I can't say you guys keep, talking amongst yourselves I love it I wish.
I Could do, two things at once hey. CAK, glad, to see you on a, lot of great people tuning, in here so I know, I'm probably losing some people we're going a little bit too long but again, Steve, Forbes many of the innovations of recent years however have come about in response to, the instability, of the dollar and other currencies maybe. He was already talking about Bitcoin, at that point 2012. I'm. Sure he probably. Knew about it which has increased, volatility, in, currency and. Commodity markets, new. Instruments, have been designed, either as insurance, against volatility or to take advantage, of it new. Instruments. Maybe. He knew about Bitcoin, and digital assets at that time if you had stable money there would be much less hedging, and financial, speculation an