podcasts
Prince Philip of Serbia discusses Bitcoin's potential to address financial, energy, and political issues, emphasizing its role in promoting financial sovereignty during economic and political turmoil.
In this podcast episode, Preston Pysh and Prince Philip of Serbia delve into Bitcoin's intricate relationship with society, exploring its potential to address more than just financial issues. Philip recounts his journey from initially dismissing Bitcoin to becoming a staunch supporter, a change spurred by the 2017 Bitcoin boom and solidified during the COVID-19 pandemic when government responses highlighted the fragility of traditional financial systems. Moving to Belgrade for a more Bitcoin-friendly environment, Philip underscores the themes of financial sovereignty and the importance of understanding Bitcoin's principles. The conversation also touches on Bitcoin's potential to revolutionize sectors like energy and its role as a stabilizing force during political and economic turmoil, advocating for grassroots and institutional support to restore private property rights and enhance societal resilience.
The podcast episode provides an intimate view of Bitcoin through Philip's transformative experience, showcasing its potential to challenge traditional systems and offer a hopeful alternative for a better future. Bitcoin is depicted not just as a currency but as a tool for resource access, enhanced personal sovereignty, and long-term value creation. The discussion goes beyond technicalities, highlighting Bitcoin's historical, political, and societal impacts, and underscores its potential to reshape the global landscape amidst economic uncertainties and the erosion of individual freedoms.
00:00:00 - Intro
00:00:59 - Prince Philip's journey from finance to Bitcoin advocacy.
00:15:08 - Prince Philip's vision for a Bitcoin nation-state.
00:27:14 - The environmental impact of traditional banking systems versus Bitcoin.
00:39:02 - The steps Serbia needs to take for Bitcoin adoption.
00:40:38 - The benefits of Bitcoin for financial sovereignty and inclusion.
00:48:41 - Personal anecdotes from Prince Philip's life as a prince and a Bitcoin advocate.
00:55:06 - The synergies between Bitcoin and monarchy.
00:58:50 - The role of merchants in driving Bitcoin adoption.
(00:00) (00:00) hey everyone this episode is brought to you by river the place that I personally go to securely invest in Bitcoin with confidence and with zero fees they want people to vote for them then we tell them that bitcoin's good for them bitcoin's good for for their people bitcoin's good for society Bitcoin fixes a lot of issues it doesn't just fix money but it fixes energy it fixes politics it fixes so many parts of our Lives we need to sell this to them [Music] it's great to uh connect with you I know (00:33) we've we''ve talked a little bit
(00:35) in passing here and there and this is wonderful to be able to sit down with you and have a have a good thorough conversation sir yeah likewise I keep on bumping you in uh in these amazing conferences but we never have enough time to take to sit down and have a good chat and we have Little Talks good talks power talks but then uh we have we're we're busy we we got to get back to our to our duties we're getting torn in different directions exactly I think for (01:01) for anybody that would look at you and see uh all of I I couldn't even imagine
(01:08) the time constraints and and directions you're being pulled in a in a given day and I think for somebody that would look at at a person like yourself and say there's so many things that you could be looking at or focusing upon and here you are talking about Bitcoin and are very passionate about Bitcoin how in the world did that come on your radar when there's so many other things that could be distracting or pulling you in a (01:35) different direction that's a lovely way of putting that question how did I get into Bitcoin um yeah it it was first started I mean I
(01:44) The Story Goes that I first heard about Bitcoin in 2011 when I I believe the first time I heard about it was when they pulled it off from the D when uh Visa Visa Master Card was pulled off the donation page for Wikileaks and Junior nange said that we are accept Bitcoin and I looked at it and I was like well that's funny that's that's interesting but I brushed it off as (02:05) magic internet money and speaking to some other people they were like oh yes they going to go to 100 or whatever I just didn't take any notice of it at all it's just that
(02:13) you know something that you find online one of those funny things online then years went by sadly and 2017 came along and I was on I was on I was on on Reddit I know I know Reddit yeah but I was on Reddit scrolling through the homepage of Reddit and then every now and then the Bitcoin uh home uh subreddit would pop up and that little meme of the roller coaster (02:41) guy with his hands up in the air would be going up all the time going wee I'll say what's going on there I saw this a few times over a few weeks in like early 2017 and then I get a call
(02:52) from my best friend this is when I was living in London by the way in 2017 and my friend is like hey philli have you heard of Bitcoin I was like yeah well what's up but if you it's it's uh it's something that you should get into you should buy some it's like a great investment it's a great uh inflation hedge there's only (03:07) going to be 21 million ever invested I was like oh that's I mean uh produced that's well that's interesting didn't really take much
(03:13) notice of that but he was really into it and passionate had some passion he's my best friend and I kind of take his advice so I was like okay show me how so he got me onto coinbase I bought some Bitcoin and he got me on got me a wallet I put stored it on my wallet and then I saw some other things on coin base I saw ethereum and coin I was like what are those oh (03:31) they they have you know the other other cryptos or whatever they have a chance too I was like oh okay interesting can I buy can should I buy them yeah why not and then that year was
(03:41) full of um myself and him yeah we uh and we got some other friends into it as well we got we got into the Ico craze and stuff so basically I joined for greed purposes I was working in uh in traditional Finance at the time and and you know I thought I kind of knew how things work you know how the Financial system works and stuff but when Bitcoin came about (04:03) that's kind of Novel something novel had no idea what it was going to turn out to be but uh obviously got distracted by the other things that that were on offer by you know all all those
(04:14) other icos and and other cryptos that were being uh shoved down your throat if you were in that crypto space in 2017 and you weren't really well well read in in Bitcoin I was easy distracted we were easily distracted so we threw our money at this and that project but nothing ever stuck obviously then it all crashed and 2018 (04:34) 19 came about and I was like still into Bitcoin but not really passionately I was still stacking here and there you know when I got a good paycheck or when I got like a bonus I would some Bitcoin and stuff and just mind my own
(04:46) business and stuff then I think it was 2020 when the when the whole Co thing happened that's when I started to pay attention my job went online we all worked from our homes we all were told to move and work remotely for my homes and then I was sat at my desk at home I say desk was a makeshift desk next to my bed and (05:09) we we had a flat up in in um in Swiss Cottage like near primose Hill London and my wife was with our son in the in the other bedroom and in the other bedroom in the living room and I remember just thinking to myself uh
(05:21) what the hell is going on over here what's all this money printing that's what's all this stimus happening and I thought to myself almost working from this computer I could be do this anywhere in the world so I so I so then I had the Bing the the light bulb by a moment and I was like I could be doing this from (05:38) Belgrade so I decided I got up walked over to the to the living room I was like Dana her name is Dana Dana we're moving to Belgrade and she's like okay when soon as possible we don't know when things are going
(05:51) to get rough rough or something like that so that was already by April so by June 20 by June we had uh end of June so V down which is June June 28th 2020 we moved to Belgrade V ofan is it's a big day in our history that's when the serbs won the Battle of Kosovo in the 12th century and it was the uh Prince uh (06:14) St Prince uh St Prince Lazar neon sa day that's a big day in our in in our calendar and the fact that I bought tickets on that day without realizing there was V done and we moved there on that day it was uh it was
(06:26) kind of spooky then sorry how is this link to my Bitcoin story all this was happening I was like what's going on with the world what is all this money printing going on why are we getting all this quantitive easing why are they why is why is the market acting irrationally and I was like you know I have this Bitcoin thing (06:45) I'm going to study it more so I joined Bitcoin Twitter I bought the Bitcoin standard and I got studying uh in Bitcoin twinter you know came across Michael sailor later on that year I was like whoa who the hell is that that's he
(07:00) quite eloquent and uh quite the quite the quite the spokesman for Bitcoin you know he was was delivering those amazing amazing speech uh well messages uh save Things book was a hard digest but I realized okay this is it I get it now and Bitcoin Twitter with all the memes and everything I mean some of the (07:18) Bitcoin Twitter is just incredibly funny but some of it's really serious and there's a lot of intelligent individuals there I joined Bitcoin Twitter thinking you know I'll maybe find something else about other crypto stuff
(07:28) but I just instantly picked up on the on this Bitcoin v t uh Bitcoin V cryptocoin sort of sentiment and I kind of obviously gravitated towards Bitcoin instantly when when I did that and uh and next thing I know I'm like oh my God this is it I have the keys of the future in my (07:45) pockets and uh everything else doesn't really make much sense and um and that's when I realized that I will I'm that Bitcoins will be a big part of my life so I study more I stacked more and I sold all the other crypto coins whatever you call them I had and by 2021 I
(08:02) was a full-fledged Maxi I guess and there was moments like in 2021 when they when the China banned the when China banned mining in the in the within their borders they had about as you know there 60% of the hash trade and I saw this and (08:18) I saw the difficulty adjustment um of Bitcoin playing out beautifully and how how Bitcoin just decentralized further it was like cutting off the head of a snake and 20 other heads grew and I was like that's amazing yeah that adjustment that kind of linked it towards the interest rates of of the of the traditional
(08:37) Finance world how um how when the economy grows um they rise interest rates to kind of cool down the economy well when the economy is slowing down they they obviously uh put interest rates at zero negative which obviously (08:50) doesn't make that much sense but that's the way to to Spur the the growth of the economy that all didn't make sense but the adjustment of uh bitcoin's big difficulty adjustment when there's more miners coming on I mean when there's more hash power coming on and how every two weeks that's readjusted uh that I thought that was that
(09:08) for me was one of those big sort of Awakening moment obviously it was a gradual process becoming a Bitcoin maximist but uh that was one of the big ones on that one you know what was (09:18) fascinating for me it was like I was just thinking about like if Google lost half of their data centers like they went down for whatever right like you it would be catastrophic because of the the way that they handle resourcing so like the the resourcing would get loaded over to some other Data Center and like I mean they couldn't handle it if exactly that's so what if Amazon
(09:41) AWS what if what what if they lost half their data centers it would be catastrophic everyone they're trying to buy I was I was a big amazon buyer by (09:48) the way before uh before I moved to Belgrade because we don't have Amazon here so I was a big consumer like you know kind of instant gratification saw stuff on Amazon buying stuff it was easy get delivered to my desk at work bum bum bum it's so easy when I came here realized that Amazon's not available oh I got I got to I got to find stuff I got to just be happy with what I have and that taught me but
(10:12) going back to what you say yeah if Amazon if the if Google if Facebook if um any of those big guys (10:19) uh lost half of their service they would they would be there would be mass panic you correct yeah yeah wrecked wrecked and not not not with Bitcoin Bitcoin it just Mak stronger and fragile at its best you know thank you Talib Talib you know who has wrote the forward to bitcoin standard but we we know the story there with with with safein so turns out he wasn't very antifragile himself for people that uh are maybe listening to this that
(10:47) aren't intimately DED into the Bitcoin space there was a little bit of uh uh a d a dust up (10:53) between saf moose and yeah um but anyway uh you know you made this comment about covid and I think when when I'm getting to the roote I'm curious what you think the roote is but to me it it seems like it was uh the whole world just uh had the Blinder pulled up on the quote unquote experts through through all of that and it just made people question kind of everything that's is
(11:24) that what it was or was it was there something that was that was it for me as well this it was so strange living in London then you see (11:33) drips of it happening coming through the news like in this was in January like Co in in China some cases here and there you're not really worrying about it then of a sudden it starts it starts coming to Europe or something you're like that's okay that's strange and you're like okay you don't think much of it and then people
(11:51) are talking about oh that things are going to things are going to be locked down we're going to have to go home and stuff it's like well but but but but but like this thing only kills (11:59) people of uh like above 82 years old it's like it's an 8 it kills people of the average age of 82 so it's higher than the uh than the life expens of people and only kills people of of um in um who have one or two two or more co-morbidities so it didn't make much sense and we're going to
(12:17) lock down the economies we're going to close schools because of this I questioned that at the beginning but then because of the force of the propaganda I obviously kind of got along with it but still it was doing my heading and I (12:32) was at home I remember lying down the floor like after work with my wife in the room in in the living living room holding my head and saying what's going on with this world Bas piece something's not right something's not right and we were sort of bought bought we half bought into it basically then moving to Serbia was quite the
(12:49) uh I say red pill moment as well as orange pill for myself but red pill for my wife because I mean she's a I mean she's a Bitcoin because she's my wife but I think there's a lot of wives like (12:59) that yeah exactly but moving to Serbia and then we saw that how life could be completely open and that how life was completely open people weren't okay mask wearing in London I got to say that people weren't wearing masks in London that was great but the way they shut down
(13:15) schools and the way they shut down everything in London and all the social distancing stuff they weren't paying attention to that in Serbia even though they had very strict lockdowns in April 2020 in Serbia Chinese style uh they (13:28) tried to repeat them in in July after the part the um the government got 2third of the Parliamentary of of the of the seats in Parliament so they had a majority so they tried to enforce those lockdowns again power grab whatever it was tried to impose tyranny anything I have no idea but the serbs being serbs were like
(13:47) uhuh we're not having that and went to the street took to the streets a Revolution was was about to happen and the government realized they always set their Mark and obviously those tough lockdown Chinese style darwinian I (14:03) mean darwinian I think uh or Willian style lockdowns were not were not imposed on us and instead they had some like not curfews but like some businesses uh social businesses would can't be opening after eight or nine or something like that so but life actually continued and we were we were we were we were
(14:20) loving it because we could actually get on with our lives our son was then went was able to go to he just turned he just turned two just before Co so he was able to drop a kindergarten in when in September 2020 and didn't have to wear a (14:35) mask or anything and it was great I mean schools were open things were happening and life was coming kind of going on like usual but there was still some restrictions but nothing like the West nothing like the UK Spain Italy France Germany and those places so that was really an Awakening moment for me of the of what was you
(14:53) know you look you look at what happening in the west and compared to what's happening in the parts of the East and what people were saying and it was uh it was troubling actually I found it (15:04) unsettling but uh that was that's what also drove me closer to be to becoming a bitcoiner so you have a lot of conversations with world leaders and and people in prominent places um is this something that uh this conversation that you and I are having right now is everybody in the world at at the highest levels having these conversations in your opinion no no maybe they
(15:30) are in Clos circles but we speak because I okay so I joined Jan 3 that's a company that Samson ma started for those list who don't know what (15:42) Samson ma is he's a established Bitcoin Max Bitcoin Max list who was a big uh executive for blockstream Block stream one of the biggest Bitcoin only companies out there and he then in 2022 uh decided to start his own startup called Jan 3 January 3 was the reference to the first block mine in January 3rd 2009 and down 3 was is a is a company dedicated to hyper hyperbitcoinization or basically nation state
(16:10) adoption and spreading the word of Bitcoin to nation states and trying to speed up uh Bitcoin adoption all over the world and we have (16:19) our technologies that are that to to to to um like we have our wallet Aqua wallet and we do we sell we sell buy and sell Bitcoin and we're we we work on other some other projects for for Revenue but otherwise uh our I guess our our we're known as as a nation state adoption Bitcoin company which means that I okay so how did I get in there sorry when I became a public Bitcoin in 2022 after going on a talk show here with my wife
(16:47) the biggest talk show in Serbia uh the host uh figured out because we met with him three days (16:54) before to have a chat just to get to know each other and he figured out was into Bitcoin and and when we did the recording 3 days later he interrupted me while I was talking about my current traditional Finance job I wasn't ready well not showing much passion about that so is now a good time to talk about crypto and that obviously was a good time for me to uh to to talk about yeah not not not crypto it's all about Bitcoin and then
(17:19) that then went viral because I talked three minutes afterwards I I kind of went on a (17:22) monologue about Bitcoin yeah and next thing I know I'm in my um I'm on podcast my my first podcast was Prince is once bid in podcast and then yeah and then on safety in the moose's podcast which was like for me a proper seral moment having listen to his podcast he's like reaching out to me in my DMs and like oh my God safety is reaching out to me in my DMs this is insane he's like thinking that telling me how Bitcoin can bring back monarchies and stuff I like
(17:47) yes yes that's true and we're um then I'm on his (17:50) podcast talking about democracy versus monarchy and stuff and Bitcoin it was great then I get invited to Miami and at Miami I met Samson and he inst me just like oh I want to hire you I'm looking for to people for my for my company do you want to join I was like yes I didn't really think twice because I was looking to get an exit out of my traditional Finance job because at that point two years being a bitcoiner and
(18:13) working traditional Finance I didn't really feel that I was in the right place uh so that (18:18) goes back to your question about meeting presidents and so and and other people so we do meet we try to make um conversations with leaders around the world and people around the world but it's obviously talk about Bitcoin and number one having trying to start a conversation with a leader around the world if we try to initiate if I try to initiate a conversation by maybe um initiating a uh starting a a a a diplomatic line with a leader or somewhere with an embassy and I
(18:45) say I want to talk to that later about Bitcoin (18:48) that doesn't go anywhere really we no it doesn't go anywhere people especially in the European Union other parts of the world maybe but what we rely on mainly is connections that I have already and the other thing is uh I I would say is uh other bitcoiners around the world other bitcoiners around the world are passionate hardworking um good Souls who want OB wants obviously to spread the meaning and the love and the the the the the utility of Bitcoin and they have
(19:22) gone to S speak to their local elected official (19:26) and stuff about Bitcoin and so they've obviously identified somebody that that's open to talk about it and then they need some help so quite a lot of times we get a lot of uh messages emails coming from random people or random bitcoiners all over the world and then we start a group with them you know Bitcoin so Jan 3 with a certain country and then from there we can get some meetings because we have some bitcoiners around the world have identified a politician a minister
(19:51) or even a president that's open to talk about it (19:54) and I'm afraid that um unless it's very private conversation that the whole Co doesn't really come up yeah yeah yeah no that's fasc so it's really truly ground Roots people on the ground that are then kind of initiating that maybe have a slight bit of access uh to whoever the elected body is in whatever country and then it's kind of from the bottom up obviously it's that's because we totally understand that Bitcoin
(20:23) is a bottomup strategy it's a grassroot effort it's it's what I talked about that well as we (20:29) know it's decentralization it's finess it's you it's you can't stop it from from growing uh on the ground but top down there's not much help happening there so we believe that there is a a a need for maybe some individuals or some companies or people to work with some leaders around the world and to basically understand Bitcoin because they can reach a bigger audience they can able to Market Market Bitcoin they can understand that it's good
(21:00) for not just for them because I know leaders are (21:02) very you know they look after themselves but also they can have to look after their Futures and they have to look after their people you know if they want people to vote for them then we tell them that bitcoin's good for them bitcoin's good for for their people Bitcoin is good for society Bitcoin fixes a lot of issues it doesn't just fix money but it fixes energy it fixes politics it fixes so many parts of our lives and we have
(21:23) to we have to we we need to sell this to them and there's ways of like strategies that we can (21:29) engage with his Le with with with um with uh jurisdictions I say or um local authorities around the world and obviously the the buou example is going is a very rare one I mean I think that's not going to happen for a while Never Say Never After Bull Run you never know what's going to happen but that for the for for viewers who don't know what what what b b is the president of El Salvador he adopted Bitcoin in 2021 alongside the dollar as their n as their
(21:56) legal tender so s Salvadorans are free to use the (21:59) dollar and Bitcoin um as their as their currency and they were given a a wallet to by the president with $30 in in that in that wallet in Bitcoin and they're able to buy and sell Bitcoin freely and this was beautiful but what he did right bu was give them the option use either Fiat dollars or Bitcoin um yeah the CH wallet has some te some teeing problems in the beginning and stuff there was some problems obviously government doesn't doch Tech W but you know it got it got there
(22:30) and it works and now El Salvador is thanks to (22:34) his other policies of taking down the gangs and being and now turning into the safest country in the world and opening up tourism but also his technology laws of of of T making it less tax less taxable on um on most Industries there that it's become a very competitive country so it's not only safe but it's a very competitive State and as a result people are moving back El salvadorians are moving back and uh and people are
(22:59) the world like I want to go I want to be I want to live in El Salvador because (23:02) they're offering me x y and Zed and it's it's a place that's that's what what my country is not offering so anyway I think El Salvador as an example I think hopefully that will be picked up and we see the Ripple effects of Salvador happening in other Central American countries but it's still tough because they don't have um a bchan mo the Buchan moment was that he was uncorruptible he was rich and when he came to power he could easily do what he want what
(23:31) what what was needed and luckily he was a (23:33) good player um a bitcoiner and and Bitcoin maximist and did the right things but that happening in other countries is is difficult especially with all these elaborate democratical or tyrannical whatever systems happening around the world yeah so the other two strategies that we try to focus on as well is just as a store of value I mean that's what Bitcoin is technically right now I mean uh as a means as a currency yeah it's going to be there one day um uh but I think right now I
(24:03) mean this is the Sal argument that Bitcoin is is a (24:05) store of value it's uh doesn't want to you know it's Al he doesn't want it's he doesn't want to um I say he many people think it's happy the way it is right now you know alific and all that yeah and so we've trying and and advise governments or people to and not just governments but also companies and stuff to to to hold it on their balance on their balance sheet as as as on the treasury because it's better
(24:31) than holding cash just what Michael saor says if you any basically Michael sa is much better at (24:36) talking to people about this and I am so store of value is another thing the other thing is energy Bitcoin fixes energy Bitcoin is an energy back money so Bitcoin is looking for Bitcoin miners are looking for the cheapest form of energy that is good for civilization when you're looking when you have the incentive of something that makes money that's looking for the cheapest form of energy that's going to bring you good um energy and then how to put it
(25:04) basically the cheapest forms of energy out there (25:07) are stranded or wasted energy and these are in places where in in electrical grids that have that have inefficiencies where Bitcoin miners can then plug themselves into those stranded wasted inefficient areas and we uh you can start some power purchas agreement with the electrical rid with the state or so forth and they can start mining Bitcoin when that grid then has some stress through hot weather like it is today in Belgrade it's 37° that's going to cause a lot of people to turn on their
(25:38) air conditionings that's going to C stress (25:39) on on the grid that can lead to some blackouts or when it's freezing it can be minus 20 or 30 here degrees Centigrade that is and that's going to put some stress on the grid as well then Bitcoin miners can then sell the electricity back or just turn off their miners depending on the agreement they have back to the electrical grid and stop El it stops um rolling blackouts altto together you have fortified to strengthen that grid completely also for Renewables whether you're into it
(26:07) or not I'm not into obviously wind and solar (26:10) but other Renewables like hydro and and geothermal it's pushing people to find clever sources or ways of finding or or using uh Hydra when it's not being used to to to to to convert that energy into money and then that money is then used to uh money as in Bitcoin and when I say money I think that I think Bitcoin that money is that Bitcoin is used as for infrastructure projects and and so basically so what we're doing is we're try to to create joint ventures with other with other with other states with
(26:42) (26:43) with with uh with other local authorities out there and being in a joint venture with with the local authorities some government when they're involved in Bitcoin then they will tend to be kind of to bitcoin and then they will tend to understand what the values of Bitcoin is and then they will then be better and regulating Bitcoin yes Bitcoin doesn't need regulation but the rest of crypto does um and maybe they will stop you know create better regulations and differentiate
(27:07) Bitcoin from the rest take take away capital (27:10) gains tax from Bitcoin allow it to to to flow freely so that's on on the energy front I think in like five to 10 years it's going to become abundantly clear to the rest of the world how uh how demanding AI is for energy consumption and I I think when we look at the existing uh energy grid there's so little nuclear kind of in the mix as a percentage um and for where I think we're going with respect to Ai and the energy demands you're in this you're in this unique situation where you almost
(27:46) (27:46) have like a chicken and egg scenario where you're going to have a lot of countries around the world that don't want to like build out like this really intense infrastructure to call it nuclear because there's just not enough of a demand signal locally there at the moment based off of the population's demand to build it and then hopefully the AI data centers come or or whatever right and I think when you look at what Bitcoin really offers it's offering a turnkey if you build it you can stick (28:16) these things here and immediately have
(28:19) somebody that's willing to buy all that excess energy and then you can bring in the artificial intelligence data centers and now your country that might not have been real competitive on the AI front for for running all these models locally in in whatever jurisdiction we're talking about now has a has a pathway to be competitive on the global landscape with respect to Ai and I don't think people were talking about this today no that's a good point yeah yeah I think in (28:47) Europe that's could be now right now
(28:50) maybe in the states less so I'm not too familiar the states Europe is suffering energy- wise yeah um especially in the EU we have these hor these terrible laws coming into effect these directives coming in from the from from the from the EU commission to to try and move us to uh renewable energy sources and a lot of a lot of subsidies being pumped into solar and wind and as we know solar and wind are not good for baseload energy completely terrible so there's a there's a there's
(29:22) (29:22) an abundance of now Solen wind but these guy these these types of energy are not good so this is destroying energy capacity Plus with the conflict of the conflict with Ukraine and Russia where a lot of Europe got its especially Germany got its energy from Russia and now it does not get its energy from Russia and we know the story about nordstream 2 and who blew that up anyway let's not go into that but we know how what these it's it's Europe is shooting itself in the foot right now with energy so we are (29:52) paying Sky higher prices for energy
(29:54) right now and that shouldn't be the case we could have so much abundant energy here we have so many good Hydro sources GE geothermic sources in Serbia alone I want to get Serbia to be an energy autonomous independent Sovereign thanks to its ability for uh for its geothermal we are sitting in so much geothermal activity but obviously it cost too much you need to lower your time preference to to to access it but if you hook it up with uh if you side by side it with it let's say bootstrap it with Bitcoin (30:24) mining then we're talking but that's
(30:27) something for for the so do do all these people in the elected officials in in the European Union do they just have to experience more pain in order to come to this realization it's a crazy one because right now nuclear is being it's been shunned completely shunned especially in Germany it seems like the coal lobbyist in Germany are the ones who are pushing the left lipto to to say that coal is a better option than nuclear because Cole has come back with a vengeance in uh in Germany look I
(31:02) (31:02) don't have much against Cole but it's a dirty it's a dirty source of energy it does pollute the air you can obviously stick some some some filters on it and clean clean it up but Germany has great potential for nucleus so there's anywhere in the world really but especially Germany but what happened in Germany instead of them going nuclear which is much cleaner they've gone to coal and this has been driven by by by a lot of well say the Germany power structure is that the greens have some (31:28) some some of that are in the Coalition and
(31:31) you would expect that with greens in the Coalition that they wouldn't go for uh for for for for coal but apparently that's the case so apparently coal is is is not as bad for the environment as nuclear um but Philip anybody who's done even the smallest bit of research uh you know two or three layers deep on nuclear they understand that there are uh tremendous safety changes that have happened over the last call it 20 or years on nuclear but I think it's such a divisive word
(32:02) (32:03) and the public is so superficial in their in their knowledge and understanding and there's no type of campaign that's being pushed out there to properly educate the populace as to the risks and the the benefits of nuclear that I I it's such an easy political uh smashing of the hammer of like we're not even considering this right as you said that word nuclear trigger a lot of people it's the same thing as like I put up there with abortion basically you you would get the similar divisions on that (32:35) but I I guess I don't know what it is
(32:38) I don't know I'm thinking that they know that I think someone knows that nuclear could save us completely and it's yeah almost like a free energy source yes it requires investment well once it gets going it's beautiful and you do it properly but look at I think people look maybe people looking back at Japan in 2010 when when when uh Fukushima was it Fukushima blew up yeah that was that was quite a horrible incident but that was their fault for putting for putting a (33:05) plant right on the water like right on top of the Pacific Rim where there's a lot
(33:13) line yeah right in front of where tidal ways can hit it and stuff but we're talking Germany man we're talking like you know almost almost landlock country right in the center the only thing that they get is the occasional I don't know hail storm and I think I think nuclear power plants can can withstand a hail storm and H you know where this isn't you know I don't I I think it's ridiculous that we haven't (33:37) gone to uh Gone nuclear I can understand that countries like Serbia that don't have the resources will not go for nuclear because it
(33:43) requires a lot of Investments and stuff but uh um that's why I'm that's why I'm going for geothermal we have the geothermal activity over here we just need the investment and the Bitcoin miners to boost trap that but but nuclear was the biggest energy source in France they started to try and shut that down but France was a leader in in in nuclear energy and it's like that's not being (34:05) studied or looked at or or or or or um or appreciated enough I think France they I wish that
(34:13) the model for France could have been replicated in other countries we wouldn't be in the problem today because our energy bills all over Europe are Sky High when I when I heard you say about it not happening in Serbia I'm just thinking about you know if if you could get a group of politicians that could lay down some type of public partnership with one of these large mining companies to uh work together in building the (34:43) infrastructure for the for the power cult nuclear um and then they get some type of uh fixed rate energy or percentage wise
(34:53) or or whatever based off of the you know let's say they they guarantee a price of four cents per kilowatt hour and then maybe it goes to within a five cent after a certain time frame after that but there's something that's like put in place with the with the minor the the buildout is enormous from an energy perspective and then the miners are then you know cooperating with the state to say we will soak up at (35:18) least 30 or 40% of this excess uh within a certain time frame and there's this relationship that is set in place that gives the state
(35:28) this incredible resource the power and they're also uh able to set up in and from the minor perspective like one of their biggest risks is the the political risk of being thrown out of a certain region with after they spent all this money building the infrastructure and putting it all in place and so there's this opportunity for this win-win relationship between the state and (35:52) miners that they get the duration of guaranteed we we will not kick you out for 20 years or whatever it is right and but that requires that requires having to having
(36:05) to go against the shortterm of the democratic rules uh not just in Serbia but in most parts of Europe and they don't think about the long term a nuclear power plant is not it's not something that you build in four years five years in in a one election cycle so that's that's where the issue is I think it will require some private Ventures (36:30) maybe or it will require require a good State actor for that to happen but it can happen it it will H it will happen there was talk about
(36:39) nuclear here before but it's kind of Fizz all that I don't know what the latest is basically but um I yeah it's something I'm not that that uh read up and should be yeah but I think it can yeah I think can happen one of the most common questions I get asked from family and friends is Preston where do you personally buy your Bitcoin from and the answer is really simple I buy it (37:02) on river.com not only can you easily buy Bitcoin with zero fees on recurring orders you
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(38:49) (38:48) com stiip to schedule your free consultation call don't delay in securing your generational wealth the right way opt in for security overc convenience and protect your future your family line will thank you yeah but I think you bring up an interesting point it seems like politics all over the planet are heavily biased towards this short-term thinking or this time preference right um does does Bitcoin change this with time uh you know are we talking 20 20 years or we call calling it multiple decades before the impact of bitcoin's (39:27) time preference starts rubbing off into
(39:29) even politics or is it something that never penetrates that I think it will penetrate at some point us firstly it's the sentiment of Bitcoin as you see Bitcoin is it's it goes after its harving cyle after it harving it becomes scarcer it start to flow the ratio goes up and then it starts to become the price goes up and people start to uh it gets fomo and stuff and that it it Taps into the human psyche of of sentiment you know fear of missing out and all that and that's part of what drives (40:03) adoption right so that's always going
(40:04) to be a player but we have seen recently in the states that Trump for example an old uh former president and hopefully could be the next president saying things like oh I'm going to uh protect your self custody which is huge like the fact that he said self- custody and I'm going to protect your ability to self- custody and I'm going to stop Elizabeth Warren and her goons from touching your Bitcoins plural I like the way he said bitcoin's bural that is that is huge so obviously (40:40) they're realizing that there's a lot of
(40:42) crypto guys I mean I have to say it but that's because a lot of them a lot of people there's I don't know how many Americans 50 70 70 million Americans that own crypto who are who are voters so if you're not kind to these to these guys you're going to lose a lot of votes so this is what the Biden Administration got to wake up to obviously they were not kind to Bitcoin in the last four years um they did the bare bare minimum and if anything they were actually (41:07) trying to destroy the mining industry in in uh in in in the US and impose those heavy
(41:14) 30 20 or 30% taxes on on all mining activity just follow Pier rosha on that it's fantastic he's great at at updating us on that on that on that whole uh um Shenanigans of of of what they're doing but they're now with that with Trump saying no I'm going to protect your Bitcoins now mining is actually good for for the country now we should be the bit the best Bitcoin miners we're going to mine all the (41:38) Bitcoin in the world we are going to be number one in the Bitcoin that's fantastic that's what it should be like that's what
(41:43) every country should be like because it's the first countries who adopted so El salador way ahead of everyone they're going to me they're going to be Miles Ahead civilization they're going to be like you know they're going to be like I don't know like in uh in that film June and something like that they're gonna be those guys like running the whole place (42:03) I think you're I think this next cycle is really going to highlight how uh Progressive and and Forward Thinking UK K is in in another exactly and so he's lowed his time preference
(42:16) so he benefits and he's played he's played the game theory like way before anyone so he's he's cool he's he's he's awesome but now with other when I'm talking about other nations I think America now we've had Trump we even had RK Jr we had a lot of other senators all you know we have Cynthia Lumis we have Ron Paul kind of (42:37) you know advocating for it but especially cth Lumis we have some big players big political players in America are advocating for
(42:45) Bitcoin and that is huge and especially coming from Trump who was all anti- crypto and so all all US dollar which I understood his position because he's just you know American number one which is a good position to have because actually it had it led to a better foreign policy but let's not go there um that uh yes so now we have American Presidents talking about Bitcoin and that's fantastic so I (43:09) think that Bitcoin is going to be on people on uh candidates uh Platforms in the next 10 years you're going to have but on
(43:18) average about two election Cycles across the world and you'll see by this second election cycle I think Bitcoin is going to appear in a lot of their uh on their platforms because they realize that people are becoming aware of the F that is the current Global Financial system of what uh they will start to learn about fractional Reserve lending and banking they will start to know understand what Fiat is all about and (43:47) how it's created and they will start to think you know maybe I should take uh take sovereignty of my own money and stuff so they
(43:55) will start to look at people will start to look at gold and property and stuff like that but a lot of people will actually wake up and start to study Bitcoin and realize that that's the best option so that's happening at an incredible rate um as an incredible rate I think right it's plateaued a little bit as in it's still increasing over the bare market and stuff but now we haven't (44:16) even haven't seen retail hit the market yet in uh in this run but we've seen
(44:22) institutional money hit the market big time that was thanks to obviously as everyone well most view listeners here should know that in uh January early January I think it's January 11th about 12 or so spot e Bitcoin spot ETFs were approved in the United States and that's huge when gold spot etss were approved in 2004 that 5x the price of gold um the years afterwards with Bitcoin approved spot ETF that hasn't shown we haven't (44:50) had a a three uh we've had like the
(44:52) 3x now no I think it was a I want to say it was like around 25 or on the approv about 35 it's about 35 so it's definitely 2x but we're still in the beginning you know we're still right at the beginning of that right now and we still are yeah I think well basically that institutional adoption um that was a big part of institutional ad option is bot ETFs coming coming coming in I don't agree with it it's not Bitcoin it's obviously you're not getting the Expo
(45:22) (45:23) you're just getting exposure to the thing but not actually buying the thing which is something I don't support but in terms of gaining um ging um traction and people becoming aware and also institutions that weren't able to buy the thing before can now do it because they're able to buy ETF start a financial product in in the old traditional Financial world then that's that's actually bringing a lot of money into into Bitcoin it's going to drive the price up um yeah I think that's (45:50) going to that's going to then lead to
(45:52) a huge uh Supply constraint shock soon because we all know that Bitcoin had a harving on the 20th of April I hope it was I don't think it was 2040 it was a 2140 depending what timeone you were in but um that led to uh being for from 900 coins being produced every day to 450 and now these ETFs are sucking about sucking up about two three or 4,000 coins a day so the mass is suggesting that there's going to be a huge supply shock soon yeah and and as Samson says (46:25) it we're going to get the uh the Omega candle or or as Adam back you know the Godzilla
(46:33) cand candle or something or as Max C has the gold candle or something like that but um and that's when retail comes in and stuff but uh yeah it's going to be interesting that we're going to see going back to time preference as I think what people will start to I have now loaded my time preference after learning and studying about Bitcoin and actually that I'm um able to put my wealth away in something that is (46:57) indestructible that has all the properties of money you know it's um it's durable it's portable it's spongeable it's most importantly
(47:08) scarce I think and it's their acceptability now is something that it's it's had 14 15 years of of of of of of of a track record now you can say that it's actually it's it's viable it's there so it takes all those boxes whereas gold only takes Tak a few of those boxes obviously will gold is not very divisible yes it's very very very (47:30) durable but portability is a huge issue with gold and that's what led you know gold standards ultimately lead to a Fiat standard
(47:37) so Fiat obviously not scarce obviously but obviously very d uh not not durable I don't think very doable but very very portable and very divisible but when it comes to scarcity terrible and that's what's killing us all you know that's what's giving the creating the cost of living crisis um because they can't stop printing that uh so I think people are going to wake up (47:57) up to this and and and I've woken up to it I think it's it's it's something that you know
(48:01) we can store our wealth in something that's that that they can't take away from they can look at it they can see it because it's there you know your suit ominous you know your your your keys are kind of open to the public right but they can't do anything yet they got to come and take it away from me with a with a with a a bloody big wrench but you know you have ways of of mitigating that and you have ways of (48:20) doing um multi and stuff like that and but just so everyone's aware I kind of lost my Bitcoin the other day I I was out in a boats
(48:27) and I've lost it all so I got to start from scratch but I know very I know very well that I'm stacking again you know I have very let but I know very well that you know even if I stack now we are still super super early so yeah I love it uh okay this this question is going to change gears a little bit but this was when I'm when I'm coming up with questions this was my (48:48) favorite one to ask you um what is the best part and the worst part of being a prince big PS for people that are that not seeing the the YouTube feed Prince Ville of space was like
(49:09) uh do I have the answer this cheers Che start off with the best part start off the best uh the best parts you know it's not easy being a prince people think it's easy but hey look I'm going to I'm I'm going to I'm going to try I'm I'm going to I'm going to play victim over here I'm going to say I'm going to yeah this is not a very (49:31) Bitcoin thing to do but look this is also why we all should be bitcoiners because the worst thing about being a the best thing
(49:40) about being a prince can also be the worst thing about being a prince the best thing is yes so the we were okay my family is the I'm from the Cara georgevich Dynasty our dynasty was born from K Jord who was who started led the first Revolution um Uprising I should say I don't like the word revolution that's a communist word I think who started an uprising against the Ottoman Empire in (50:07) 1804 and Serbia was on the Ottoman Empire tyrannical rule we were slaves to them essentially
(50:13) for uh for centuries for about 3 400 years but gaj Georgia in 1804 was an afan pig farmer like livestock Merchant and in in um the shadia region which is very close to Belgrade in he gathered um him and his uh and and some some other serbs got together in a meeting in which is 15th 14th they had the meeting on 14th of February 1804 where they decided that they would start the uprising against the timan empire he was actually chosen (50:54) um he wasn't the first or third or second elected he was a third elected but they went for him because the first elected and the
(51:00) second elected said they had some conflicting interest this and that I'm not going to get into the details but it was chosen that K Georgia would lead the Army um um to to to to uprise against the Ottomans because of his let's say he was a he was quite a Bas individual he was over two meters tall uh Jorden means black George in Turkish uh he was a good decision maker you know he would take make harsh (51:28) decisions and stuff so he was had he had the right the right makeup for for a good General in this situation where the odds were stacked up
(51:35) against us but he managed to lead an uprising and gather enough strength that liberated Seria out of Ottoman Rule and then you could see in the map in the old maps of Europe that the otoman Empire with big like blob over most of Southeastern Europe then in 1804 in the middle of that sea of Ottoman Empire this still Boop Serbia just appears out of there that's kaj Jord and leading the the (52:02) uprising um then there then that kind of failed after a while and then there was a second ey Uprising by the ovich dynasty um and then that properly secured serious independence
(52:14) from uh from from from the Ottoman Empire we were principality under the Ottoman Empire but uh what led after that is that there was two competing competing U dynasties which was yanovich and the korovich dynasty uh the brovich were by the end of the century by 1902 there was uh a a Rego side they were killed off because they weren't playing well they (52:37) people blame that on the Carro Geor ofices but that's not true um but King Peter I first was then put to power again well not again he was put to power in 1903 and he was anyway this is going
(52:50) to hist what what I'm trying to say is that we as a family we LED we uh we um we we uh we were the leaders of the country we established uh democracy I hate to say it but we established a democracy that worked it was actually more of a more of a like a constitutional monarchy but with more rights to the monarchy than to the other (53:11) side the the constitute to to to democracy so it was like a bit of bit of an absolute and and monarchy absolute monarchy and Democratic rule at the same time um this then led to the the creation of Yugoslavia because Yugoslavia
(53:27) King Alexander King Peter's first son created Yugoslavia as a way to protect the region against the growing threat of the austan hungarians and basically we would this was uh this was during the time when Yugoslavia Serbia was very the monarchies were were creating a lot of wealth and it was a very good (53:48) environment for asset creation money was backed by gold and people were making uh making lives for themselves and things were more or less stable apart from time times in the first world war and the second world war but this
(53:59) is pre World War post first world war and now PR Second World War uh we had accumul we I say accumulated we had um done a lot of business we owned some gold mines we did a lot of uh trade here and there and we built a lot of properties and we had palaces that my great-grandfather built here in Belgrade and we had the palace (54:20) in downtown and stuff that he gifted to the state to the people of Serbia and stuff like that and this was all done through private money and but we had good strong private property rights that's what's was important is the monarchy is all
(54:33) about having strong private property rights what then happen second world war is after the second world war was that socialism communism came about and they have very poor or little or nothing no property rights and everything was taken away from us confiscated even until this day it's (54:50) still confiscated so had I been born uh pre Second World War I would have had a lot now born post Second World War I have nothing so we were yeah that's that's the thing so that I think
(55:05) I think you know some some princes out there royal families are in better better uh have a I say not better off but they obviously have a little bit more Comfort a bit more luxury they are they are part of the system they are um they they have they have properties that they've been inherited because that's how good royal (55:26) family monarchy how descendancy how succession works is youd look after your property for your sons and all that and when it came to the carage Georg family there was nothing handed over to me so I've got to fight
(55:36) for this again but that's why maybe I became a bitcoiner and that's maybe the good a good and bad thing that's it's B turned me into someone who's who is a a sta um supporter and advocate for private property rights yeah a freedom figher and that's why Bitcoin resonated so much (55:56) for me because as we know very well that Bitcoin is an example of property that it's almost impossible it's that you can take that you can't take away with no dispute when you buy Bitcoin
(56:08) you're buying something that you can't that it's indisputably yours when you're buying land you could go back and you can argue with someone that you know like two three centuries ago this land used to belong to X that or that Nation used to be here and blah blah blah and you can bring all this sort of stuff up but when it comes to (56:24) bitcoin no the the definition of private property of Rights and of what ownership I should say is much more clear when it comes to bitcoin so
(56:36) this is and I think that will help with uh with future uh arbitrary processes and law processes that I think that Bitcoin is going to wake up a lot of people to what what what the value is of of private property and I think that's what the good thing and bad thing about being a prince is in my position that's me in Philip as being a prince that I I I was born with (56:57) essentially not okay I was born in the in the United States I don't know people know this uh my family not too wealthy but you know they had you know we were went to decent schools
(57:07) and all that and they they gave us a decent life my parents separated I went to uh live in Spain with my mother she's a Brazilian Princess uh but then my father remarried to to to to to some random Greek and we had to move to London to be with him went to boarding school and then went to University then all of a sudden Serbia (57:25) we were allowed to go back to Yugoslavia 2001 when after mosovich got AED but we were allowed to then live in the palace but the palace is still owned by the state still confiscated by the state um now this is where it gets you
(57:41) know like debatable where the P should they be owned by the people should be owned by the family I mean I'm obviously for the for the on on the camp that it should be owned by the family and it we should be able to do what we please with it but no way am I going to sell it away just to (57:55) just to just to get money and leave the country no I'm fully invested in this country I will find ways of of mon monetizing that property or figuring out ways of of of of restoring it and
(58:07) he has a lot of work that needs to be done um but doing so uh I don't know I'm going with this conversation but yeah basically what I'm trying to say is that in my position it's great being a prince you get a lot of attention you have a and you have a spotlight and if I think I hope I have good intent I have I have (58:24) I have good morals and if I have good morals and maybe I can use that in into to help other people but then I guess if you're not a if you're a bad actor if you're spoiled or whatever and then I'm going to say that maybe
(58:36) there's disadvantages of being a prince is that you uh that you get attention and you obviously in a Fiat world with all the Fiat uh perverse incentives that can be that can actually go negative and you end up just being one of these instant gratification players and all that sort (58:50) of stuff you know I I interview a lot of people and I've heard through the years from people that are just Ultra successful they say to me Preston it's not about the destination it's about the journey and it's about the the trend of that journey and when I hear your story
(59:07) and I hear what you're what you're explaining I'm thinking to myself like what an incredible place to be to to be able to kind of point the attention you're talking about the attention that naturally comes with the position but (59:23) also being so based based on your background and what you've what your family has experienced through all of this to be able to shine a light on on property rights and to shine a light on what real money is and how it benefits humanity and you wouldn't have that you wouldn't have that opportunity
(59:46) without the the the hardship that the family has experience through right through everything that was kind of taken away through through the years in the past and going through socialism and all these things that the the hardships that (59:59) were endured and you know it's almost like if you were going to play a video game and uh you could start off with like all these skills and it was just kind of easy to kind of like go through the whole game and you just completed it it's kind of like you got to the end and it was like well there was no
(1:00:16) Journey because the journey was just like really simple when you kind you could just play it and just win and right games like Zelda did so well it must because they were proper Journeys they were proper Journeys the hero's journey (1:00:32) right the hero's journey yeah exactly love I'm not saying that I'm hero but I'm saying that it's tough I'm we are all of us yeah you you me all those bitcoiners non even non even non- coiners people who are just aware non coiners or pre- coiners who just aware of what's going
(1:00:49) on out there but the number one issue that we are all facing over here is our Invasion and or or the the the the demolishment I guess is the word of private property writers that it seems to be happening at accelerated rate over (1:01:11) the last 70 years since the second world war some places more than other places and I think even owning private property now in some places what you call free comes with a lot of uh what's the word well it's not really yours if you if if it's taxed Inside Out owning land for example even in the states like say only land in places
(1:01:35) in Britain I don't own land here one day maybe uh but it comes with you know your with with all these taxes that you have to not just buying it or selling it but maintaining it and and (1:01:48) and all the duties and they have to do with the land they just they don't want you it's like it's there's a it's yeah it can't just be yours and this is where Bitcoin fixes that and I how can that help then with other forms of of ownership and I think it can because it brings
(1:02:10) it shines a spotlights on on how arbitrary ownership can actually be and I think that um courts laws the law the laws process is something that's been destroyed I mean I would say ever since the first World War I think in a mon (1:02:26) years people would say oh yeah okay I I would say that in the monarchical years of Europe you would have better court systems uh cheaper that's the most important thing is cheaper court systems in those countries that had uh kings that understood that if they would want to hold on to that power for longer they
(1:02:47) would make sure that that common man was able to defend themselves as well as the elite and what we have now so post first world war that was HP what happened during the first world war and afterwards is the destruction of (1:03:03) monarchies and the introduction of uh Democratic republicanism is that a law system became much more complex and when they become complex they become more expensive when they become more expensive than the common man finds it hard to defend themselves so then when you then introduce a system of shortterm short termism like
(1:03:25) of election Cycles to these complex law systems you're going to have systems where invested interests of those who have the elite will be able to pump money into into into maintaining their (1:03:39) power in in those short election cycles and they will dominate the law process whereas those who don't have the common man will find it very difficult to have a say and defend his land property rights and all that and this is what's been destroyed away and I think part of this is is what you see with land with with ownership with uh with rights and all that and
(1:04:03) and that's why we we live right now in a very divided world but this is what uh one way of explaining is also the continent effect as well I (1:04:12) think that's why making it very um the Canon effect I should say the Canan Canon is that he was a French Economist 1840s or 50s and he noticed that though that this an economic phenomenon of that those who who are closer to the money printer that those Elites who are closer to the wealth of creation wealth creational money printing uh favor better than those who are further away from it of course
(1:04:40) that makes sense but what happens is that those who are close to the money printer get money when it's fresh at the lower interest rate and (1:04:47) they able to reinvest it and they're told to re to obviously use it to to reinvest in the economy and K ke would say yeah trickle down economics you should you know you should practice that but that doesn't work instead what they do is they actually buy real assets so they'll buy property gold and now Bitcoin maybe um so when that when it goes down further do down further down the food
(1:05:08) chain when it gets to the common man he can't borrow money at the same rate as those big as those big Elite he has to borrow at credit card (1:05:16) rates which is like 20% or something which is ridiculous not only is money hard cheap more expensive to borrow then but it is also infl has actually taken a has taken more of a hold since that money was first created from that when the elite actually was given that money so basically that actually leads to the inequalities that we have today that added I'd say what's the word um multiplied
(1:05:46) uh exacerbated by the destruction and comp not destruction but the the the further complexity of our law systems has meant that the Common (1:05:55) Man has really missed out over the last century and is suffering big time but you know apparently we're all we're okay all these distractions third world war co uh LGBT you know all this bird flu all that sort all the above basically conflicts here and there that's uh and and we know and what the real issue is that the real economy and this is what happened during Co is that the real
(1:06:22) economy and I think it can be very accentuate what what happened over the last 100 100 years can be accentuated what happened in Co is (1:06:30) that that power grab was that the mom and dad shops the brick and morar shops were the ones were told to shut down whereas the big shops the big big companies you're talking your Facebooks Amazon your uh Wasing I'm not Facebook's not a good example because they will function no matter what um your uh your Amazon's your um Walmart and things like that and we're we're all able to function properly continue mhm
(1:06:56) but whereas your mom and dad's Dro your brick and water were were were were told (1:06:59) to go home close their shops given some stimulus um but that stimulus obviously was just was just a distraction and those that real economy that brick and motor economy absolutely got leveled got destroyed so we had this k-shaped recovery and this happens all the time destruction of wealth and then the elite wealth the the ones who have the ones who are in control the ones closer to money printer the ones who actually have better rates all that continue to grow
(1:07:32) higher and we saw a huge expansion of wealth uh (1:07:36) postco and it's only going to happen again I don't know when but it's going to happen again and it's kind I mean now we're I I don't know what the next thing is what is the next thing right now um World War III I don't know um bird flu bird flu you thought you said bird flu yeah I mean but they tried bird flu in 2002 or 2009 they tried bird flu I have no idea but but they need something to blame they need something
(1:08:02) to blame because financially the numbers that are Brewing into the fall here are like (1:08:08) they're going to need something right your point they're gonna need something in America is that the labor markets there are absolutely nuts and what they're telling you is one is not what is actually really happening you follow people like I don't know if you follow people like Edward Dow um Edward Dow he's not a bitcoiner yet but he should be he has pointed out that uh there has been a increased number of disabilities ever since something was introduced
(1:08:37) in 2021 and so Biden comes into Power 20 (1:08:42) okay he voted in late 2020 he said uh so he he comes into Power 17th or whatever 19th of January 2021 and he inherits a a a CO economy where everyone's been told to go home and jobs are at in uh unemployment is at record highs then obviously he opens the markets up and he gets he gets the he thinks he can take the credit for for having all these drops come back but no because because he just inherited um unemployment through lockdowns yeah but then what has happened is that unemployment has hasn't actually reached
(1:09:18) (1:09:18) back to the peaks of preco to some margin and not only that the quality of of employment is terrible we have people on one or two or three jobs um making absolutely nothing and not make being able to make ends meet also with cost of living crisis thanks to all the quantitive easing money printing that happening but what I'm saying is that Gap why is that Gap a lot of disabilities that that have been that have come about and this was thanks to some things that were mandated in 2021 which is something that we should really
(1:09:48) (1:09:48) look into and make uh Make Some Noise about oh yeah Prince Phillip thank you so much for making time and coming on and and your response to the one question that I wanted to say this uh back when you said I think with speaks volumes about you and what I've seen from interacting with you in person and I just walk away from it every time and I'm just saying he has so much humility for a person who uh just lives this really interesting life and um I just can't thank you enough for
(1:10:21) coming on sharing your your stories and just being (1:10:24) just very candid with with the audience and and putting it all out there and just uh you know your contributions to the Bitcoin Community are just deeply appreciated by everybody who's ever interacted with you and and you're just like such an awesome person in this space and I I love calling you a friend um I also wanted to throw this out there you and I had thrown around the idea of maybe doing something in Belgrade in Serbia at the end of August I don't know if you still know I'm I think we should
(1:10:53) (1:10:53) do something first thank you so much for those kind words really no it means a lot to me just like like to say that uh being a Bitcoin in Serbia is not easy we are uh I think Serbia has a lot to offer Bitcoin and Bitcoin has a lot to offer to Serbia yeah uh we have a lot of technical Minds here a lot of quantitative Minds here which is great but uh the the current sentiment here is that it's very cash orientated cash cash is King and try and and when Bitcoin comes when people
(1:11:25) are exposed to bitcoin they think oh yes there some digital thing (1:11:29) created by the KGB or the MI6 or the NSA and stuff but obviously they haven't done their homework yet so that you know that physical uh you don't have that physical ownership and that's what serbs like is that physical ownership and that's I like that that's good but that's one almost so they're one step away a lot of Subs from the standing Bitcoin so whenever I tweet or or share anything about Bitcoin there's a lot of uh loud voices and you think Bitcoin Twitter
(1:11:55) can be harsh Serbian Twitter that's another (1:11:57) next another level um yeah so going to what you were saying afterwards is uh yeah I think post rer um we should do something yeah I think we should definitely do something here in belr uh if people are interested in they're hearing this uh after the Ria there's a ria event like I think the third week of August and then maybe the last weekend of August yeah so then afterwards maybe on the 27th 28 29th of August we we can do something here in belg we have a hub in Belgrade a Bitcoin only Hub um
(1:12:29) that was opened up a year and a half ago so (1:12:32) thanks to John's Barry who works for Peak shift uh his company have have are paying for the rent of a of a space it's like an apartment location on two levels here in the center of Belgrade top location and it's called Hub 21 it's uh it's it's it's a co-working space that's also open for uh meat meat HBS for lectures for presentations for uh Al anything Bitcoin related really and we can meet there and also I think we're going to maybe make a meeting happen in the palace as well amazing at
(1:13:08) (1:13:08) the moment as you can see behind me it doesn't look very palatial I still live in a flat downtown but uh hopefully I am moving into the Palaces soon that's another story that we can talk about maybe maybe maybe in Belgrade yeah maybe in Belgrade that but yeah so um yeah that's uh so let's let's make some let's make something happen here I love it okay uh so if people are hearing that you're in the in the area of Serbia Belgrade and you want to try
(1:13:34) to go to this we're going to set something up end (1:13:37) of August uh stay tuned also yes sorry one more thing is maybe we're talking about having a one day Conference madebe October 16th in yeah in as well okay awesome so it's still very early stages but stay tuned stay tuned stay tuned stay tuned Prince Phillip thank you so much for your time this was such a pleasure and uh really enjoyed the chat Preston the pleasure was mine too thank you very much when I was interviewing Elon for the founders book and we were talking about what is money
(1:14:06) he said money is just an information system (1:14:08) right it's a way for us to avoid having to barter that's almost an exact quote from something he said to me and he says because it's an information system you can see how a universe of digital currencies is actually a much more efficient information system by shamon terms than something like handing you pressing a dollar right because it just like there a lot of friction involved there
