Economist Peter St. Onge exposes how government-funded activism and fiat-fueled corruption distort society.
In this eye-opening episode of TFTC, economist Peter St. Onge unpacks the illusion of grassroots activism, exposing how government-funded NGOs manufacture protests and public sentiment through staged events and media manipulation. He links this deception to the broader corruption fueled by fiat money and the Federal Reserve’s ability to print endlessly, enabling ideological agendas without public accountability. From universities acting as state mouthpieces to corporations bullied into political compliance, St. Onge paints a picture of a deeply rigged system. But amid this dysfunction, Bitcoin stands out as a path to financial and ideological freedom. With its fixed supply and decentralized nature, Bitcoin undermines the state’s ability to inflate, coerce, and control. St. Onge praises figures like Trump and Elon Musk for recognizing these dynamics and sees a future where Bitcoin-backed products replace fiat infrastructure, ushering in a new era of full-reserve banking and decentralized power.
This episode delivers a compelling blueprint for dismantling institutional corruption by exposing the link between money printing, political coercion, and cultural manipulation. Peter St. Onge makes the case that Bitcoin isn't just a financial asset, but a powerful tool for reclaiming sovereignty and truth in an era dominated by centralized control. As more individuals awaken to these systemic deceptions, Bitcoin offers a path forward—one rooted not in revolution, but in protocol. The momentum is building, and for the first time in decades, real change feels within reach.
0:00 - Intro
0:46 - Elon and Austrian econ
6:35 - Paid protestors
14:38 - Woke companies exist because intimidation
17:04 - Fold & Bitkey
18:47 - Uni endowments and money printer
27:02 - Unchained
27:27 - Trump’s policy choices
33:02 - Media and Trump changing precedent
45:33 - Convictions win
51:50 - Trump admin & bitcoin
58:50 - Bitcoinization of finance
1:10:34 - DOGE Can't Fix The Dollar
(00:00) we don't actually have a significant radical left movement in this country there's all these little mechanisms that have been operating under the shadows to create the illusion that there's this mass movement in the country towards this communist revolution they dug in and found 24 organizations that are funding Tesla takedown attacks what they're protesting is cuts to their budget they're probably paying their executives 230,000 a year to sit around and do nothing and then they channel some of that money into basically bribes
(00:30) what Doge is doing is that they're coming in and saying "No we're going to cut that off." They're not protesting because they care about the future of the country it's possible that there is nobody who cares about any of this stuff unless they're literally paid to professional conversation i guess that's what you can call me um otherwise known as podcaster you are ex's economics professor i've said this many times throughout the years throughout the many conversations we have but now I think it's official you
(01:02) you officially have Elon Musk uh retweeting your videos pretty consistently these days how's that feel sir elon has been astounding um all right so when I came on when I started posting daily videos my goal was to get an Austrian economics perspective but really a Rothbard okay more than anybody I love Murray Rothbard anytime I see some economic event my first question is what would Rothbart say how would he see this how would he analyze it and I wanted to get a basically Rothbartian perspective out there uh we can get a
(01:36) little bit into what Austrian economics is but basically it's what economics would be if government uh was not corrupting it so any I want to get that message out it's contrary because of course most economic commentators whether they're on the left or the right they're keynesian they're fundamentally progovernment they think that the stuff the government does is useful uh Austrian or classical economics disagrees is why it was called the dismal science because the politicians would come to the economists and say hey
(02:04) I got this great idea and the economist would say nah it's not going to work and they would say that so regularly that politicians complained well you guys you don't have any creativity you don't so I wanted to get that message out there And Elon I've been absolutely shocked like his economics are impeccable he is spot-on so like I I don't know if it was from watching my videos if he's familiar with Austrian economics if he figured it out independently but either way he understands exactly what central banking
(02:32) is exactly how inflation is created you know it's not animal spirits it's not people being too enthusiastic it's it's government it's printing uh he understands how to fix the economy he understands the risks he understands the sort of cynicism with which we look at the state all right so when you grow up you go to school and they tell you how uh you know activists look out upon the world and they notice problems and so they get the government involved and they raise awareness and then the government passes a new rule or a new
(03:01) law and then things get better and of course this is BS this is propaganda right what's really happening is a field of economics that deals with this called public choice and what's really happening of course is that the people in government are just as greedy and venal as corrupt as the worst businessman in the world they're all humans like you know you don't go through some purifying process as you enter government where all of your self-interest is purged and you're now an angel they are corrupt bastards and
(03:29) the only difference between you know a government bureaucrat and Walmart is that Walmart can't force you to buy the product the government bureaucrat most definitely can and they can put you in jail if you don't do what they say and so this magnifies the corruption it makes it much more threatening and so Elon understands this right he does not have um uh you know this sort of illusion that government is sort of this collective it's the things we all do together so I don't know how he got that maybe part of that was
(04:00) growing up in South Africa and seeing what happened to that uh after the ANC took over which is a communist organization and and it implemented policies consistent with that uh but either way his eyes are wide open so I think that you know not only has he been great for getting sort of the Austrian economics Rothbartian message out I think that he on some level has influence with people like JD Vance and Trump who again their economics are exceptional for a national politician their economics are just outstanding uh
(04:31) almost on every single issue they are spot on the Austrian or the Rothbartian message [Music] excuse me as it pertains to Elon it seems it that's what I just observing everything that's happened from the leadup to the election last November to the inauguration to the first couple of months and couple of weeks of the second Trump admin it seems like the Elon specifically has been more and more radicalized as he's getting into the halls of DC of the federal government of the many different agencies and actually diving in to the data and uncovering the
(05:14) the breadth and the depth of the grift and overt fraud that exists within the government so it seems like his Rothbartian radicalization is accelerating every day he he finds a new agency to look into and he's a fascinating case study because he's a former Democrat right he was a lifelong Democrat uh a lot of the people in the Trump administration are are are former Democrats including Donald Trump you know that was one of the memes after he won they had you know RFK Tulsi Elon Trump and they said the Democrats won
(05:48) the election and there's a lot of truth to that where sane Democrats did win the election it's kind of a separate question what the heck happened to the Democrat party and this is part of the reason why the Republican party's been fighting it because they have been taken over by Democrats by saying Democrats uh so it's kind of fun to watch but I think that radicalization process that you're talking about I think that's happening to millions of Americans you know even people who were small small government or you know sort of instinctively
(06:18) hostile to the government i don't think people like me I don't think we understood just how deep the corruption is you know when we talk about waste and um you know something like US aid I think their budget was 50 or 80 billion or something just all of it pure fraud and it raises I think a fascinating question which is is there actually an organized left like during Trump's first term you know I remember anytime that he would say something outrageous he would have this instant mob of people out in the street and you know for example when
(06:52) he called countries uh you know he said they're these [ __ ] hole countries and poof you had like 200 people at JFK at you know LAX at Chicago at all the major airports who were out there demonstrating saying terrible things and the question of the time was why don't we have that right why don't you have hundreds of uh Republicans or small government people going out and doing that and the standard joke was that our people have jobs but we're now realizing that it's not that it's that these people are paid to do this and in fact
(07:23) we saw that during the BLM riots where you know they had mug shots of of of some of these people and and their names and I went and looked up some of these names and these people to the man they were working for governmentf funed NOS so like there was one guy he was a famous communist because he was he would just walk up to everybody and spit in everybody's face right any counterprotester and it turns out that he was working for this NGO that did like banking equity to you know explain finances to poor people or something in
(07:54) other words it didn't have to do with spitting in people's faces at you know immigration protests but um you know sort of I think one of the lessons or one of the takeaways here is that it's possible that there is no mob out in the streets there is nobody who cares about any of this stuff unless they're literally paid to if you look at the Doge protest right now so these people are fascinating right they're in their 50s they are pretty obviously government workers i mean just they look like government workers you know a 54y
(08:27) old mildmannered man these are not green-haired police station burners like in Portland right this is a whole different crop here and I think the reason is because fundamentally they're not protesting because they care about the future of the country right these are not like MAGA protesters who go out there with the Trump flag they're not being paid to do that right they're not being funded by the government they are literally interested in the future of the country there's a very deep difference in the movements between the
(08:54) MAGA who are driven by passion and these sort of left-wing agitators who are it appears completely being paid to do it in fact we saw just the other day there was a report they dug in and found 24 organizations that are funding the so-called Tesla takedown attacks and they're all like one of the biggest ones um let's see it does AIDS care for homeless people right what does it have to do with Tesla well of of course what they're protesting is cuts to their budget right because that charity they're probably paying their executives
(09:31) two 300 a year to sit sit around and do nothing and then they channel some of that money into basically uh bribes so that they can keep the money flowing and what Elon is doing or what Doge is doing is that they're coming in saying "No we're going to cut that off." Now from their perspective they paid for that money that's their money they bribed it fair and square and yes I can completely understand why they're angry enough to burn a Tesla but I think that a lot of Americans now are just being absolutely shocked at how corrupt the system is now
(10:00) of course that depends which media you listen to right because if you watch CNN or you read the New York Times you have no idea any of this is happening my brother who you know he went partway through a PhD program he's a smart guy he's concerned that his his uh social security is going to go away like what what what planet are you living like this is not you know Elon is not sitting there stealing your social security so you know so he can buy another house he's literally going through and eliminating corruption which by the way
(10:31) strengthens the system but the point is that depending which media you watch you are living in a completely different world right now utterly distinct realities it's it's fascinating because I mean going back to like BLM and the mechanism it's like the US aid funnels money to the NOS's they are fat and happy and then they funnel the money to these quoteunquote protesters these paid protesters to manufacture public sentiment that is picked up by media companies that may also be funded by the same grift funnel and just going back to
(11:07) BLM not only were these protesters paid you could tell it was anybody was paying attention i believe it was in Dallas specifically when they had the the rally or the rallies the protest up there they had the pallets of the bricks just sitting there on the side of the street and it was like exactly why what there's nobody doing construction it's co they're not they were deemed non-essential workers and why are these bricks sitting here it was like obviously anybody with more than two brain cells that is sort of awake and
(11:36) paying attention it's like those were set there by somebody to incite violence of some kind to project this sentiment that everybody in the country feels this way and that's what I think uh going back to the point of radicalization is many people who are collecting information the right way or in ways that are um more beneficial to your mental health in a well-rounded picture of what's actually going on compared to mainstream media are waking up to the fact that oh wow a lot of this social strife that has been spoonfed to me over
(12:09) the course of many decades now at this point is completely manufactured sentiment 100% and you're right this has been going on a very long time uh depending when you start the clock uh you know in the 1960s we the had the exact same things so you had these nationwide riots generally their demand was money they the the rioters wanted to get paid one way or the other and then that you know sort of created this racehustling uh industry in every major city uh in America and that was the same deal right they were burning down their own
(12:40) neighborhoods it continued in the 1990s we had a bunch of NAFTA and WTO protests where they got really violent they would burn out banks uh you can go all the way back to the union movement really in the 1890s 1900s uh my wife's um grandfather was a policeman in West Virginia and he was literally wounded by union riers who were shooting at police and throughout the deal was the same which is that they use violence to intimidate companies and then the companies become woke the companies fund or at least they fail to fight against
(13:17) you know this sort of uh state takeover and then the state takes a portion of that and it pays the protesters or the riers so this game's been going on a long time i think what's exciting about it is that we have identified it right we knew that the house was falling down and we didn't know why and now we found the termites now we understand exactly what what what they're doing now in the short term they're trying to block them with these district judges and that's probably going to get to the Supreme Court but the long run sort of the big
(13:48) picture here which I think is is really great news is that we we don't actually have a significant radical left uh movement in this country it is entirely astrourfed the you know cutting off US aid money it hasn't hit yet because remember these guys have a lot of money in the bank uh those district judges have been forcing some of the payments through so we haven't seen the whole thing get fully defunded yet but it's sort of like we can see the light at the end of the tunnel now we know exactly who's causing the problem
(14:21) they're not a significant part of the population and I think if you cut off those power bases first of all the radical left the sort of you know communist revolution permanent revolution vanishes and point two if you very specifically focus on that corporate intimidation I think even companies don't actually support any of this stuff you know traditionally in America big companies knew to keep their mouth shut on topics that have nothing to do with it like McDonald's should not have an abortion or an opinion on
(14:50) abortion it's not worth it right you're going to alienate half the country either way why would McDonald's possibly open their mouth on abortion why would Disney open their mouth on you know transgender stuff and this all got intimidated this got pushed on partly by the violence uh partly by proxy shareholders which is where uh you have organizations on Wall Street who who vote your 401k shares to basically control these companies there's all these little mechanisms that have been operating under the shadows to create
(15:18) the illusion that there's this mass movement in the country towards this communist revolution and we saw that during COVID right so during the BLM riots for example they were explicitly communist they were of course violent they were burning down black neighborhoods above all so these were terrible ideas that's right and you know historically various surveys of Fortune 500 CEOs about 60 or 70% of them are Republican yet not one single CEO forget endorsing Trump not one single CEO even criticized BLM so statistically 70% plus disagreed
(15:53) with BLM why do they keep their mouth shut and that's the reason it's an intimidation racket they would have gotten their employees beat up they would have gotten their headquarters burned down the Soros prosecutors in somewhere like New York would not have done anything about it the riers know this the people who fund the riers know this so there would have been no consequences to it meanwhile you would have gotten on the wrong side of the deep state regulators so these you know if you're a bank or a media company
(16:16) there's a number of licenses you need and if those licenses are revoked you are out of business right you are trillions trillions vanished overnight so you put it together and these guys have to be this way right when people complain about Disney Disney has to do this they're in a hostage situation now of course they bear blame you know uh somebody could have stood up and and grown a spine there were a few CEOs did that that did generally private companies not publicly listed uh but the point is that if we can cut off that
(16:47) intimidation industrial complex I think that you know you you it's like um what looks like this massive danger on the left I think isn't actually there the whole thing evaporates and the key is yeah cutting off the money and the control from government what's up freaks do you have a credit card are you getting cash back or airline points or points for some other service guess what those are [ __ ] coins you want to be stacking Bitcoin and I have some groundbreaking news for you the team at Fold has finally released the Bitcoin
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(18:41) world use the key TFTC 20 at checkout for 20% off your order that's bit.world code TFTC20 what Elon Doge Trump JD are doing to really surface and highlight the corrupt and federal government is only one part of solving this issue because going back to like the Tesla riots of today it is really a reemergence of the Weather Underground of the ' 60s and 70s and Yuri Bezmanov warned us like right around that time that you're going to have um sort of ideological subversion through the university system and that's what many people need to know the
(19:18) history of the weather underground the people involved and where they ended up because a lot of them ended up in the university system where a lot of this ideology that introduces malware into people's brains and makes them more uh susceptible to getting paid to go to these protest starts at the university you have this federal government issue you have this private sector intimidation issue and then you have this university issue and it all is oiled by easy money and I think that is when you get to the core of the problem
(19:52) the the ability for um all this stuff to get funded at the end of the day whether it's at the federal government via just overtly stealing money from taxpayers and funding USAD at the uh public company level using um shareholder proxy votes to uh push certain policies on publicly traded companies and then in the university system where you sort of it's the breeding ground for all these ideologies i think we need to really thread the needle of painting that full picture highlighting that the money printer really enables all of these things and
(20:28) you simply need to take the ability to print money away from these people i saw you were tweeting about it this morning the university endowment system which which funds a lot of this as well yeah so universities get about 200 billion a year 220 uh from the federal government they're sitting on about1 trillion dollars in endowment which is quite a lot of money and you know what happened there i mean fundamentally they've spent a long time building the universities as effectively the state religion they are the apologists uh what Murray Rothbart
(21:02) called the intellectual bodyguards of the state so they're state funded and their job is to justify state action and you see this in Congress right you'll see for example uh take trans issues they will cite academic studies proving that or allegedly proving that you know if people cut off their genitals then they're less likely to commit suicide which is which seems hard to believe but there you go you've got the academic studies for it and the studies are paid for right so if you are in gender studies and you have a divergent point
(21:32) of view you're not going to get funding if you don't get funding a university is going to fire you you're going to be an adjunct tale where you know you you you you have like a regular job you're more or less a public school teacher so they won't do that they're not dummies and you know you see this in global warming you see it in every major left-wing issue where you've got to tow the party line and as you say the money fundamentally comes it comes from government something like 80 or 90% of university uh economists who deal with
(22:01) macro okay macro is you know unemployment inflation GDP something like 80 or 90% of them are paid by the Federal Reserve so what's going to happen to these people if they say we need to end the Fed well they're not going to say it they're not that dumb and you know the kind of rule of thumb in life is if people who are corrupt don't think they're corrupt right nobody wants to think they're a bad person so they'll they'll come up with no no well you know the Fed really is important because look we had we had instability before the Fed
(22:30) we had wildcat banking in the 19th century they come up with all these reasons why they have to convince themselves first and so the end result is that the university becomes this state religion it is very generously funded as you say the core problem here is that government has unlimited money right it can print as much as it wants this creates two dynamics so one of them is that any kind of sort of internal impetus in the government for example corruption it will grow right it doesn't have to fight with other departments so
(23:04) if you take you know like in normal times if you'd like to spend $200 billion on universities you have to go to to battle with the military guys or the infrastructure guys or you know there are competing priorities in government but once you can print the money eh sure you know if you make yourself annoying enough sure here's 200 billion go away right it funds everything probably the most dangerous thing that it funds and my favorite metaphor here is that the Federal Reserve is the venture capitalist of crisis the crisis industrial complex
(23:38) whenever you have some sort of you know whether it's a war or a respiratory illness that spreads rapidly uh or global warming which is kind of a fake war whenever you have these crises these can be funded by unlimited money printing you know we saw it during CO where if we just sort of do a thought experiment so during COVID they shut down roughly half the economy and they substituted in all of these payments right so in the US you had PPP in Canada you literally had a universal basic income where I was at the time so they
(24:13) substituted in all these payments now if you shut down half the GDP how can you afford the payments the magic of money printing so if you imagine a counterfactual where you did not have a Federal Reserve or Bank of Canada then some junior bureaucrat were walked in at the beginning co he would have said "Okay guys we need to stop the spread and bend the curve so we're going to shut everything down i know it's going to cut tax revenue by half but that's okay we're just going to lay off half of the government workers right?" He would
(24:41) have been out of there that would have been the end of his career what in fact happened is they had an unlimited money print in the US i think it was 7 trillion at one point increase in M2 uh the deficit spending was something like 6 trillion of that so if you have that any crisis that comes along you can essentially float the crisis until it metastasizes that is especially true of war right so the Afghan war I think it ended up costing us something like $3 trillion for what and if you had sat down with the American people early on and said "Okay
(25:14) look we can do this two ways we can either assassinate eight guys and make sure it doesn't happen again or we can occupy Afghanistan for 25 years however long it was but it'll cost you $3 trillion so and let me tally up the numbers for you whatever those I don't know $30,000 or whatever it is if you actually said that to the American people here here's the deal for the low low price of 30 grand we can occupy Afghanistan for 25 years they would have said get out of here right but with the Fed voters never have to make a choice
(25:43) and people on the right complain about this all the time and they say "Why don't voters care about the the deficit is $200 billion nobody see or whatever two trillion nobody cares about it." Well no they don't care about it because there's a money printer everybody knows standard voters know they don't understand what the Fed is but in the back of their mind they know that we apparently spend unlimited amount of money and apparently nothing really happens and this is all because of the Federal Reserve get rid of the Federal
(26:08) Reserve and government actually has to make choices it either has to go to the people and say "Hey we're going to have to raise your taxes for this next war." Or the money that goes for the war is going to have to come out of something else and they're going to actually have to sit there and say "Well now we the wararmongering Democrats have to defund uh the Department of Education or whatever.
(26:27) " Now of course they're never going to do that because that's their power base so the end result is that all of these Ukraine flags disappear right the left does not want war because it'll drain resources from their power base the right doesn't want war because it'll raise taxes so you know we can go through all of these different topics whether it's the activist industrial complex the wars you know of course direct costs like inflation and at the source of a lot of these is the Federal Reserve the ability to print unlimited amounts of money which of course the US
(26:56) has more than anybody in the world because of reserve currency status because of the fact that the US is such a dominant currency in the world the new administration is pushing hard for government efficiency but can Elon Musk and Doge fix the dollar on April 16th PhD economist Peter Sange explains why Bitcoin is the most important tool for government efficiency and how the principles underlying the global shift toward sound money can help you protect and grow your generational wealth register now at unchained.com/tc that's
(27:26) unchained.com/tfftc and from nothing ever happens to you can just do things that's sort of the transition that has happened in the last year and on that note like let's get into like the blocking and tackling of the policy decisions that have been made and that are being floated by the Trump administration to begin to peel back the layers of the onion then hopefully remove them from the system do you have any hope that they are actually making material progress or can make enough progress to make a dent in this deficit
(28:00) spending or this problem that has arisen over the course of decades yeah so like one of the running jokes in Bitcoin is that no matter what the problem is a Bitcoiner parachutes in and says Bitcoin fixes this and it's a funny joke because it's true right no matter what the issue is right so Bitcoin was born from bank bailouts and then we had the inflation and then we had the uh Canadian truckers right which illustrated that Bitcoin you need Bitcoin to escape from a totalitarian financial system uh that's going to be coming in Europe they're
(28:30) talking about mobilizing 10 trillion euro of savings of the European people so um whatever it is Bitcoin fixes it because it turns out that hard money is such an important um sort of tool you can fix all of these social problems with it now for me Doge has kind of gone through that same journey where when Doge first came out I looked at it and said "Okay cool maybe we can maybe we can't reduce government spending significantly but at least we can you know bend the curve and you know that'll that'll bring down inflation it'll at
(29:04) least end the Biden inflation so that was step one cool we can reduce inflation a little bit uh and then step two was regulation where as he started talking about it and Trump also in in interviews was talking about you know how exactly do we get rid of government spending well we identify which regulations are useless or we're never authorized and then we get rid of the regulation we get rid of the regulation we can fire the people and at that point I got excited i said "Whoa whoa hey wait forget about you know knocking 2% off
(29:33) inflation this is exciting because if you get rid of deregulation I mean deregulation is really like a nuclear bomb it just wipes out economic growth uh there was a study by Mercadus that every single regulator regulation does not deregulation yeah sorry so every single regulator uh wipes out 138 jobs i was just I absolutely bl like mind-numbing so at that point I got excited all right maybe the real power of Doge here is to identify these regulations and get rid of them lock stock and barrel which of course is pro
(30:07) liberty you know people should be able to run a company the way they want if they cause problems for other we have a very very efficient legal system for dealing with that lawsuits tort uh but then then once he started on it you know once he got big balls up in there and we started to see just this industrial scale corruption at that point I was like "Yeah no regulations are cool but holy crap the entire left could be defunded.
(30:35) " Like this this beast I've been fighting my entire life maybe the windmill isn't real like you look behind it and all it is is government funding there's actually nobody here there is no opposition so there for me it's been like three stages where each each new thing it finds um it's exciting in terms of what what kind of changes we can make to the country in terms of the economy but now in terms of actual freedom yeah and bring it back to social security your brother worried about Elon taking a social security check and I think that
(31:05) was driven by the interview that Chimath and David Freeberg had with Howard Lutnik and I I believe the mainstream media took a lot of what he said out of context but as we've learned in the last two days that they went into the social security system and found that during the Biden administration they were issuing social security numbers to 4 million illegal immigrants that were just immediately taking from that program which is like this is actually how you save your social security if and I believe long-term social security is a
(31:39) Ponzi scheme but we don't have to get into that if we're talking about who's actually stealing from you directly right now it's not Elon and Doge yeah i mean it was set up as a Ponzi scheme um you can rescue it elon is trying to rescue it by making it sustainable in the sense that it can pay off the people who've paid in uh I mean sooner or later we're going to have to change over to a system where you allow people to opt out in which case young people would opt out and then you know the system eventually winds up you've
(32:08) got several tens of trillions that are owed because it was set up as a Ponzi scheme but the point is that exactly Elon is trying to save it he is trying to make it sustainable enough that it can take care of the low-income people who have paid into it and do deserve their money back by all accounts uh but mainstream media and you know they're they have a point of view to sell and they're really not interested in what the truth is they're interested in uh sort of the most extreme negative take they can possibly put on it and it's an
(32:38) interesting question why they keep up with it you know the the like what's in it for them and you could model it as they're afraid of regulators so they're sort of instinctively pro-state uh they also get benefits from government access they can sit down with you know government representatives although you know the Secretary of Commerce is historically he would be interviewing with NBC anyway because there's like 12 million viewers there so it it's kind of an interesting question like why is why does the media persist in being so
(33:09) left-wing you know Fox in a sense they they sort of um sucker punch the media right because ABC NBC CBS they controlled the entirety of public opinion uh newspapers were like 5% of the discourse you know if we go back to the 1980s and Fox News came in and said "Hey wait a minute half the country is not being served i'm going to go ahead and cater to them.
(33:35) " And then lo and behold Fox News becomes you know bigger than certainly on cable bigger than anybody else they haven't been able to get a terrestrial license but that that that sort of showed the path right like in other words if the media has gotten together and sort of colluded to exclude half the country from the discussion it's really really easy to make money you just take the other point of view that's what I do that's why it's so easy for me it's not me it's because nobody else is doing this and I'm constantly sitting here like "What's wrong with you
(34:02) people?" There's obviously people you know who want to hear uh you know the other perspective and yet they never take it so you know maybe it's lockin like once you're leftwing long enough your audience is now leftwing and so you're sort of stuck uh there's this concept I really like it's called local peaks from evolution right which is the idea that like a mosquito is really good at being a mosquito but if a mosquito had half a brain it would look around and be like you know what though humans really have it good man you know they
(34:32) eat whenever they want they you know they can watch TV and watch the game uh and so a mosquito might try to evolve a new human but of course from current mosquitohood towards humanity it would have to become a less perfect mosquito on the way it'd have to get fatter and have a bigger brain it wouldn't be able to fly so it can't do that right it's stuck on this local peak even though it sees that there's a taller mountain it cannot go into the valley and go up that mountain because it would die natural selection would wipe it out and so in
(35:02) that sense it's possible that this legacy media which is almost bizarre the extent to which they're trapped in this anti-Trump narrative they can see half the country is proTrump like if CBS woke up and said "Hey you know what screw it i'm just going to go pro Trump." They would pick up twice the share of the other two you know cuz the other two would be splitting half the country cbs and yet they don't do this and maybe that's why maybe they you know maybe they are corrupt maybe the payments are much bigger uh than we've seen so far
(35:32) maybe there's some economic or some financial reason why media is staying so biased yeah they're getting out competed though individuals like yourself shows like this many others they're Yeah very obviously falling to the wayside of at least the younger generations i don't know anybody in my age cohort who watches CNN MSNBC Fox News even for that matter um it's uh it's going to be a process it's going to take time for that demo to age out and for uh our generations to to come in uh to be like the the meaningful voting
(36:09) block of of the country which I I think that transition's already started in earnest but it is crazy and like we were saying before we hit record there it is a real shame that the media introduces this malware into the people that they've they still have captured Because before we hit record you were saying it's literally the best time to be alive in human history and there's no reason to be out there burning Teslas and acting like the world is coming to an end because we have an administration that seems pretty committed to reducing
(36:48) uh the size of the federal government and its effect on the American people um there's so much to be optimistic about and that's if anybody out there who has for some reason or another turned off CNN and joining this show there's there's so much winning ahead of us if you just embrace it yeah you're absolutely right this this really is the golden age um you know the if you look back at any period in history the ability of dissident to communicate to organize uh the ability to you know change the world the mere fact that
(37:23) Trump won two times running on an he he ran against the entire establishment it is very very rare in history that you have a system where you can actually achieve that without massive bloodshed uh I think that people do need to take a step back things are incredible the only way that we lose is if we lose hope and you know even I know that a lot of your listeners are going to be from Canada or Europe places like these even in those places we're seeing it yes the sort of deep state is fighting back in some ways
(37:58) the European deep state is even worse than it is in the US they're doing things like cancelling elections they jailed the main opposition in France right this is not Malddova this is France uh they're becoming authoritarian very quickly but the reason they're becoming authoritarian is because they know that they're slipping and we saw this even here in the US so I think two events happened in 2016 which were Brexit and Trump's first win they weren't prepared for Trump they didn't think he would win they were laughing at
(38:27) him so they didn't really have all of their defenses up they regarded that as a sucker punch but that's really when we started to see the censorship industrial complex come out uh I think Alex Jones was one of the first Alex and Milo uh were you know sort of the first generation of people who were censored and that I think really came out as a reaction to Trump and Brexit where the establishment worldwide and it is kind of this global cabal they felt like you know for generations they assumed they were winning that time was on their side
(38:58) that they could just sit back cash the checks and let the long march through the institutions take over the universities the K to2 indoctrinate the next generation they thought time was on their side when they looked at Trump and Brexit they thought "Whoa hey we're in danger we're not winning something's gone wrong.
(39:15) " Uh I think that's what led to co you know I think that was their opportunity where they sort of launched the revolution too early like they were they were kicking back they were letting people be brainwashed generation by generation and Trump and Brexit planted in their minds that hey wait a minute time might not be on our side maybe we have to you know go ahead and cash in our chips because we're starting to lose and then co came and that was an opportunity it was a pretty crappy opportunity because it was fundamentally you know the the death
(39:42) rate on COVID was twice that of the flu It's across the board and I was in Canada at the time the average COVID death was 82 which is higher than the average death of a Canadian so that implies that CO makes you live four years longer the whole I mean strictly speaking so like it was a terrible you know sort of revolution to hang your head on but I think that's what drove them to do it is because they felt like they were losing what's fascinating about Trump too now is that they weren't caught off guard right they 100% knew that this was
(40:14) coming they knew what Trump was going to do they were fully prepared uh during COVID they had sort of issued very strict marching orders on every organization in society right there was nobody from like the National Association of Actuaries on down there was no sort of unpolitical organization that was proTrump no major one only like you know sort of scattered um politicized one so they had done their whole of society uh you know effort against Trump and holy crap it didn't work so I think that at this point you you're reading a lot
(40:47) of stories from the left sort of worried that they're that they're losing that they've lost touch uh they think that maybe if they don't talk about trainee so much they're going to fix it uh you know and then of course the activists are are you know bombthrowing angry over uh the fact that they're even having that discussion but I think that really the left is in crisis right now part of it is the fact that Trump won twice you know the second time really seals the deal like the first time she cheated on you because you know she didn't really
(41:15) know if you guys were exclusive the second time okay that's a problem uh so part of it's that and then part of it I think is just structural that they can see that they're losing the funding uh now that we've identified that threat even if district judges keep some of it it's going to be much much harder for them to keep that pipeline flowing and then of course the third part we were talking about earlier media right so the fact that you Gen X is replacing boomers funeral by funeral it's a bit modlin uh Gen X is the Trump base they are they
(41:46) are hardcore right-wing uh you know I grew up in the 80s uh so I am I am exactly in the center of that and the reason of course was because the 1970s were hell and then we saw the 80s and you know the small government relative small government of Ronald Reagan uh sort of free markets the optimism the morning in America you know the 80s were like just this this high-tech paradise we had max headroom and you know you I don't know you look at like the video for aha um got what's that song make me take on a take on me and yeah it's all
(42:20) this high tech with the with you know with the with the cars and you got the Japanese robots it was a very very optimistic time compared to the 70s where you know you watch movies from the 70s and it's all like everybody's just dying like everybody's insane they're dying it's this dystopia everybody's sick and diseased and so anyway we're formed by that we are replacing boomers gen X very much you know we get our news from social media we get it from podcasts we get it from alternative sources on those sources the left not
(42:53) only do they not dominate many cases they they've just completely dropped out like the left-wing podcasts I mean there's a couple of them uh the ones that do relatively well not even explicitly political but like Call Her Daddy uh they they're very very weak in that space and if you compare that to the absolute dominance they have in TV and newspapers the bottom line is time is now on our side and that's very exciting for us but it's very very scary for them they're losing the money they're losing the influence they're
(43:23) losing the ability to shape voters the next the next one that I think we really have to go at is education right so the K to2 indoctrination system because really if you most of my life the dynamics politically have been that kids come out of K to 12 as communists just stamped out by the thousands and then one by one we have to like share Ron Paul memes and like try to try to slowly slowly pull them out of there if you can return control of education to parents it can still be a public school but it's got to be radically decentralized so
(43:57) that parents actually have control over it parents choose the curriculum parents decide whether there's you know trans you know whatever in there all the social issues if you get that back then at that point I am extremely optimistic because remember for all of the handicaps that we've had you know if you go back to say 1945 or to FDR because FDR really sort of imposed this deep state uh totalitarian bureaucracy and with censorship of course which which um uh neutered the mass media if we go back from then until let's say the beginning
(44:31) of the internet so what's that about 60 years every we had every disadvantage right massive amounts of money funding the left total control over the media uh total control over education and yet we didn't quite fight them to a standstill but pretty close like over those 60 years things did not get that bad that fast considering that they had every card in the deck it's pretty amazing we were still winning like 40% of the time so you know with a two and a three you know uh we were winning against full houses so now that we are much closer to
(45:07) even I think arguably we're we're we're pretty close to even especially for like Gen Z right now uh which is you know that's been a big surprise out of this recent election is that Gen Z is arguably more right-wing than Gen X was at their age uh which is freaking them out so if we could fight them to near standill with 60 years of crap hands I am very very excited for what's coming next yeah what does that say about the natural inclination of the human spirit it's again going up your hands tied behind your back cuz they have this
(45:41) money printer and these avenues set up to funnel the money to the people to get the message out there and despite all of that um we didn't end quite in a Soviet style communist hell hole we're on our way there didn't get there though yeah there's a line from I think it's John Stewart Mill he says "One man with convictions can defeat 100 with only interests.
(46:06) " And I think that's what happened is that we thought that these guys were had conviction we thought they actually believed it there's no doubt weirdos who believe it right there's like 21 year olds who you know whatever are high on math and bomb police stations sure but they're not the influential ones right the influential ones who determine the movement they only have interests and they simply don't put out the effort that people do who feel passionately about this so you know if you look at people like Scott Presler right he started out what
(46:32) cleaning up you know trash dumps in Baltimore and then he pretty close to single-handedly swung Pennsylvania which you know was a huge part in swinging the election these are people who are deeply deeply committed uh I think you and I are are kind of in the media space and we talk to people all the time think of all the people you've interviewed right what percent of them were shills were you know just like corporate you know like uh saying it because they're paid to like like zero right i mean people are so passionate on
(47:03) our side on the side of liberty on individual rights especially on Bitcoin of course uh so you know I think that's why we could fight them to a near standstill uh even when they had all the cards and at this point I almost feel sorry for them i think they're going to get completely obliterated in the next 10 years well and that's another question I wanted to ask do you worry about the right coming into power maybe getting an advantage and being overly vindictive to the point where they overcorrect we overcorrect i guess cuz I
(47:35) would consider myself I don't worry about it um I know that the base is really pissed off uh they want a lot of people in prison uh broadly speaking the calls for prison that I've seen deserve it so I think I think at the moment um we're we're too low on the vindictive score because you know if you look at co the authors of that whole thing right the totalitarian lockdowns you could not go to church that was the first time that occurred since the piece of west failure all right you would have in any previous generation you would have had a
(48:08) lot of kinetic reaction to forbidding people to literally go to shocking uh it was pure total totalitarianism and nobody did time for that it's like the 2008 uh you know bank bailouts uh worldending catastrophe my god we all got to pull together and you know everybody's got to give a little and suffer a little nobody nobody got punished for it and both of them were 100% man-made uh so I mean to be honest I think that you know uh Bondi and Patel they can only go we do have a lot of legal checks and balances uh they have
(48:43) to take things slow because they have to build cases is if you build the case wrong than the way our system works they throw it out uh so you know I think if anything they're much much less constrained than our base wants and personally I think they're much less constrained than should be happening uh if you look at the FDA officials for example who were uh dictating vaccines when they were literally profiting from the alternative medicines uh I mean that's that's absolute corruption uh Enron did 25 years for that uh so I
(49:17) think we should see a lot more of it agreed i don't want a Fed post on air but uh I think I think the particularly co was very traumatizing and radicalizing for for much of the country and the people that orchestrated that that response and that total to totalitarianism that existed over those years uh I don't think justice has been served anywhere near the the amount of justice that should be served has been um we'll see time will tell and I think COVID and the bank bailouts um I think they're similar in terms of they have
(49:54) such a radicalizing impact like anybody who lived through COVID is never ever going to forget that uh you know they I mean what we were about a week away from I worked for a large company Heritage Foundation and you know I was a week away from uh losing my job because I wasn't vaxed and Heritage Foundation actually sued specifically their lawsuit stopped that vaccine mandate uh we forget that that was in early what was it 02 uh 22 uh so they literally stopped it they did not want to fire me but they would have had to at which point I I
(50:30) can't work at Walmart you know it's a large company i mean they were literally trying to starve us to death i think none of us will ever forget that i think that there were a lot of Americans who were kind of in the center where they were sort of skeptical of government yeah everybody knew government's kind of corrupt it's not really good at the stuff it does going to DMV is a pain in the butt but they didn't necessarily understand like they had never really seen the killer app like what is what is the killer case for why you cannot have
(50:58) a big government and I think co just showed that right that that sort of blackpilled millions of people and once you see that right once you realize that a big government is literally going to force your kids to take experimental vaccines and throw you in jail if you protest and try to starve you to death once you see that you can't unsee that you see that the entire rest of your life so this is one more reason that I'm excited for the future Gen Z was watching man like my kids are 14 and 16 they saw all that that was
(51:29) pretty shocking they're never ever going to forget that for the rest of their life no especially the kids who were juniors seniors in high school that weren't able to enjoy the last couple years of of their youth in peace instead were forced to go to class on Zoom wearing a mask that it would be incredibly radicalizing and so with this in mind shifting gears a little bit towards Bitcoin obviously the administration has been very um accom I don't want to say accommodative but uh less uh less combative less combative with our
(52:07) industry u than the Biden administration and it seems like we are not only in a period of time where the regulatory backdrop is much more relaxed and people that I work with on an everyday basis feel comfortable building products that that um only a year ago they were asking questions like am I going to get shut down for doing this a year a year from now if this if this continues but Bitcoin is also becoming a strategic asset um for the federal government the Treasury specifically and there have been many conversations about
(52:45) the executive order that Trump signed a few weeks ago separating Bitcoin from crypto saying we're going to keep all the Bitcoin all the crypto we'll manage the crypto portfolio how we see fit probably selling them off opportunistically as it goes but when it comes to Bitcoin we want to accumulate more and that is a big question right now do you think the federal government is going to accumulate more Bitcoin is it advantageous for them to do so um and how do you think is the best way to go about it yeah so my sense of it this is
(53:16) this is purely intuitive i have no proof but my sense of it is that Trump is not so much a dedicated Bitcoiner as he feels that he owes Bitcoiners he does this across the board if he feels like you helped him he helps you and you know this is very confusing I think to um most voters who are used to seeing Washington politicians who who who don't pay you back but Trump feels like he owes Bitcoiners we helped him uh and so I think that's where the regulatory the strategic Bitcoin reserve so point being I don't necessarily think his heart is
(53:53) in it in the sense that he's going to look for opportunities to expand these uh I think his heart is in it in the sense that he feels like he owes us and he must take care of us uh it's very very important this administration they have people who have like a long list of promises Trump makes and Trump makes a lot of promises you think all the stuff he talks about right we're going to get Greenland we're going to I mean just there's a lot of promises and he's got people who keep lists of these and they want to put checkboxes on them that's
(54:18) very very important to him so I think that we're safe in terms of he's not going to turn on us uh but I don't think that he's necessarily going to look for you know novel opportunities to build up uh Bitcoin reserves i think so for example at one point they had floated putting some tariff revenue in the Bitcoin reserve it'd be nice if he did uh I imagine he's just going to book that as regular spending and maybe use it uh for mass deportations in the wall because Congress is probably going to foot drag uh so I don't see him pushing
(54:48) a lot on the strategic Bitcoin reserve he'll probably continue amassing whatever the federal government seizes which you know it often seizes them legitimately from scammers and things like this just like it seizes cash um but having said I think that really more than the Bitcoin strategic reserve that's a nice vote of confidence but I think in terms of the future of Bitcoin the regulatory stuff is much much more important right if you look at so like 20 years ago when marijuana was completely illegal the average marijuana
(55:22) dealer okay so kind of take a snapshot of what he looked like and now talk about like the average ventner running a vineyard in California right very very different kinds of people why because one of those industries is at regulatory risk there's legal risks involved in it uh the other one is not and so I think that you know that started with the ETFs uh the ETFs had this sort of guard rail on them they weren't quite all the way and to be fair that was under Biden uh but now that you know Trump has both taken out uh regulatory risks and you
(55:56) know that's something that I expect to continue i'm actually gonna be on a panel next week uh with um uh Hester Paris on uh the you know Bitcoin the pro Bitcoin member of the SEC talking about some of these uh but I think that that deregulation is going to continue as it does I think the most exciting part is that increasing amounts of our financial system the banking system start to shift over to Bitcoin so it becomes less politically risky less regulatory risky for banks to provide Bitcoin accounts there are millions of Americans who want
(56:29) Bitcoin accounts uh I know hold your own keys but in terms of practicality uh you know a world where rather than people parking assets in their um you know Schwab account or 401k uh that where you know they they are parking it in Bitcoin even if it's custodial at somebody like Unchained um I think that that is a much much better world uh and it spreads um uptake of bitcoin so much that I think that that actually ends up having a much bigger impact on price so you know if we look at gold for example so gold even to
(57:03) this day the market cap on gold it's been going up but the market cap on gold is I don't know six or so times uh that of Bitcoin i think if you sort of zoom out and ask why do either of these assets have value uh and for me as an economist anyway the reason is because they're shadow replacements for fiat currency and you know if that day comes that the US dollar collapses in the hyperinflation doesn't look likely now but you know remember we were 2% away from President Camala uh if that day comes then people go what's the most
(57:38) likely asset that people uh go to instead and historically gold of course is the top contender uh I would argue that Bitcoin is technologically much superior to gold the the transaction cost the speed the security so on if you want to move like a billion gold a billion dollars worth of gold i mean it'll take you like 3 months and it'll take you several million dollars you got to more or less create like an LLC fully staffed to move the gold it's insane how expensive how difficult it is to actually work with gold uh in a
(58:07) financial system that's connected to the internet so I think that Bitcoin shouldn't be one sixth the price of gold it should be probably two or three times the market cap of gold so that right there implies what you know 10x or so uh increase which gets us uh close to a million so I think that that uptake you know has been the main thing that's been crippling that that's made it hard for Bitcoin to catch up to gold uh I think that's going to be the biggest driver in the next couple of years the deregulation and then how does the
(58:39) existing banking industry respond to that and open up the bitcoin but how do new companies come into the space and make it uh easier more attractive less risky for normies to hold bitcoin yeah I agree the strategic bitcoin reserve is a nice to have that we have it uh adding to that is an even better to have and I thought the idea that the Bitcoin Policy Institute put out uh yesterday about bit bonds that's interesting um if you're thinking long term if you're thinking about a creative way to manage the debt situation but
(59:13) everything we know from DC is things are hard to pass uh it's hard to work these types of things through the proper channels to actually get them into law and so I'm completely with you like the private market solving a lot of these problems and when you think of the immense amount of debt that exists in private markets whether that's single family home commercial real estate just corporate bonds all of that that needs to be essentially recolateralized that's the I'm sure anybody is listening to this right now is like I'm Marty's at it
(59:48) again i'm at it again because I think this is the real way that you manufacture a long-term soft landing the economy is that you open up the ability for banks and other financial services companies to to play with Bitcoin first its custody offer buyell to the customers but then introducing Bitcoin as this collateral asset in credit markets to begin to allow a lot of the the assets that are being underwritten for these loans to introduce Bitcoin as an equity part of it so you think of the monetary premium that exists in real
(1:00:24) estate alone i wrote a newsletter about it last night that went out this morning it it is immense you're single family home market in the United States is $49.6 trillion a lot of which uh a lot of that value is earmarked essentially as monetary premium that people are stuffing value into these houses as a savings vehicle that value arguably is much better suited sitting in Bitcoin which is a better long-term store value digital liquid fungeible divisible um that cannot be debased uh and who and I I can hear people screeching too well
(1:01:02) the banking systems coming to take over Bitcoin it's like no you mentioned Unchained earlier Unchain's collaborative custody model that could easily become a standard where the market could demand hey if you're going to be holding Bitcoin for me I'd prefer to be in a multi-IG wallet maybe it's multi-institutional um if you would allow me I would I would prefer to be able to have a key in the quorum so that I can audit the address to make sure you're not rehypothecating you can begin to squint and see a the bitcoinization
(1:01:31) of finance is how I like to frame it a lot of people are saying the financialization of Bitcoin but I think the correct framing is the bitcoinization of finance just introducing this technology and this collateral asset into the banking system to slowly but surely recolap recolateralize the the credit markets with better collateral in the form of Bitcoin yeah and what it it sort of gives you a shortcut to full reserve banking right so full reserve is where the bank actually has the assets that it claims to have right it's never going to
(1:02:03) need a bailout and organizations like Unchained uh Caitlyn Long of course was was trying to uh stand up a full reserve bank out in Wyoming uh these are now I think the regulatory climate is much better for these and you know when we talk about the Fed the Fed creates something like a quarter of inflation through money printing but the other threequarters of inflation is created by commercial banks who take that base money and pyramid on it essentially you deposit your money there they set aside whatever five 10% of it and then they
(1:02:35) lend the rest on well now it's $1.9 right and then becomes $2 you know $8 and so on right so it filters through the system so most of inflation uh is actually coming from fractional reserve banking and that inflation then gives us business cycles it gives us permanent inflation it gives us the boom bust the boom bust is interesting because every bust historically in other words every recession tends to give us this big growth in government uh there's a book by Bob Higgs called uh crisis and leviathon that talks about these right
(1:03:07) so whether it was the great depression whether it was the 1970s every episode of growth in government and erosion in freedoms uh comes from one of these boom bust growths fueled by inflation so I think that one of the most significant uh effects of bitcoin is the fact that it it doesn't affect or it doesn't attack reser uh fractional reserve banking headon it just kind of goes around it right this is the Frederick Hayek just just kind of sneak right around it and poof somebody like Unchained is a full reserve bank you
(1:03:39) park your money there and just as grandma thinks the money is actually there effectively it's not because it's ones and zeros but it's effectively there as opposed to if grandma puts her money in that nice safe bank down the street that bank actually lent it out to Argentinian hedge funds like literally not a joke the money is not there and then if the hedge funds run into trouble then it's going to have to go to Washington and try to get a bailout right Bitcoin and of course that's why it was created right literally the
(1:04:09) reason why Bitcoin was originally created by Satoshi was to head off that uh to implement full reserve banking that chokes off the entire beast not only the Federal Reserve but the little franchised money printers that the Federal Reserve sticks into every single bank in America yeah and when you think about practical ways in which to bring this about I think introducing it to these financial products is and these institutions is the only way because you imagine you again going back to that number 49.6 trillion in single family
(1:04:41) homes in the United States alone and a lot of people's what they would view to be a predominant portion of the retirement savings sits in that home so they have this they have this quandrum that they're in where it's maybe I like Bitcoin uh but I've got this home and I've really invested a lot into it over the last couple of decades i'm really banking on it being worth significantly more when I go to retire so introducing like dual collateralized products as a bridge product to basically give these people the ability to have a loan that
(1:05:19) has the house as part of the equity in the loan and Bitcoin as part of the equity of the loan and as you pay off your your mortgage you're you're buying into more of that equity um and you could basically see a scenario in which somebody would begin to be like "All right as long as Bitcoin's going up at the historical Kagger or somewhere near there um over the next 10 years uh I really don't care about the the equity value of the home as much.
(1:05:46) " And so you you basically have this ability to deflate the monetary premium uh that exists in housing into Bitcoin by dual collateralizing these yeah because the system that we have today is that so most Americans have an enormous amount of equity in their house i think equity is something like a third uh of home values taken across the board there's a lot of people who have literally paid off their house now if you have a lot of equity in your house if you have 200,000 equity in your house you're effectively because you can change that
(1:06:17) for cash and put it into something else okay that 200,000 is effectively cash and cash of course melts away with inflation now why don't people do that because if you sell you know if you if you uh if you cash out the equity and then you put that into something else well where are you going to put it right you can put it in stocks which go up and down uh this freaks out a lot of people especially older people who do have home equity uh you put in the bonds which are traditionally thought of as safe but what we saw over the past couple of
(1:06:44) years with the banks getting bailouts for their bond portfolios bonds are not actually that safe so a lot of people don't want to take the cash out of their house which means that in a sense functionally they're they're leaving it in cash because the house is is is measured in cash uh not because they want to but because we live in a system where if you take that out and put it into money that money is then at risk right it's either permanently inflated or you have something that's moneyless like uh you know S&P ETF or
(1:07:15) something that is going to fluctuate a lot and so giving them an option where they can actually take it out put in the money and the money grows that is going to be very attractive to people and as you say that'll activate a lot of equity the reason that matters is that if Bitcoin is running at 2 trillion market cap and if that kind of activation puts another trillion over into Bitcoin then poof price goes up 50% can have a huge impact on the price simply because for all we talk about Bitcoin we are very early right the market cap on Bitcoin uh
(1:07:46) compared to those sort of fundamentals you know the probability of replacing fiat which is what gives gold its price anyway uh those are still very very low yeah and if gold is the leading indicator to Bitcoin that many people think that it may be um it's pretty early if if Bitcoin has a gold-like move or uh a leverage gold-like move later this year things could get really interesting yeah I think that's exactly it so Bitcoin works like levered gold so normally when you see something happening in gold it tends
(1:08:20) to happen much much uh stronger in Bitcoin however it's also paired it's like its mommy is gold and it's daddy is.com or maybe the other way around um there's a certain dotcom aspect to it simply because it's it's like a new asset right uh people are learning about it uh any asset that has high price movement is going to pick up a growth stock dynamic to it uh you know we saw this I I cut my teeth in the dotcom era and you had some companies where they would flirt like I remember KTEL which if you're if you grew up in the 80s KTEL
(1:08:56) uh they you had like a monthly service where they would send you uh CDs okay and um anyway they announced that they were going to open a uh internet store and like the stock just took off it was like AMC with the you know it was like a meme stock and it went all over the place and temporarily KTEL rather than trading as a you know subscription CD service it was trading like uh an exciting growth stock which meant that back then whenever the market went up KTEL went up a lot whenever the market went down it went down a lot so there's
(1:09:27) a certain aspect to that in Bitcoin simply because it's new it's still spreading uh we evangelize person by person and so it has this sort of do aspect to it Um but fundamentally because it's structured to to function like gold you have a little bit of both right so sometimes they reinforce so we saw it during uh early COVID for example and Bitcoin just absolutely exploded in value along with gold uh but then sometimes they work on opposites where like right now for example stocks are generally down because of fears that
(1:10:00) tariffs are going to screw up the global supply chains they're going to hit corporate profits in the US uh and so stocks are down and so at the moment Bitcoin is is sort of sideways cuz it's like on the one hand it's got it's called the gold move gold has been going up 40% uh so far this uh last year uh whereas on the other hand it's got this kind of dot element to it where when stocks are down it also goes down yeah it'll be fun to watch we didn't touch on tariffs this episode we covered it the last time you were on when they were
(1:10:29) being floated on the campaign trail i don't think we have enough time to cover them in depth but luckily you were doing a webinar with Unchained in a couple weeks right can Yeah april 16th at noon Eastern uh it's called uh what is it doge for the dollar can Doge fix the dollar i think that's it yes thank you yeah can Doge fix the dollar and we're basically hooking it on the idea that so Doge is making all these reforms in the federal government would spread freedom and spread prosperity and of course it's not doing
(1:11:02) a whole lot on the dollar at least not yet uh and so Bitcoin has that built in right there's a number of aspects of Bitcoin that naturally restrain the state uh restrain of course inflation uh boost growth and the business cycle there's all these other benefits to them but very specifically the ways that hard money uh restricts the growth of the state and returns to freedom's people very important topic um and it seems like it could be happening in real time it's not counter chickens before they hatch but things look like they are
(1:11:34) trending in the right direction obviously not everybody's going to agree with everything that's going on i certainly have my qualms with some things the the wararmongering the tremoring of wararm mongering uh is making me a bit uneasy but I think uh it is also important to show some grace these are massive problems and they are multivariat and there are many of them and on the economic side at least cutting waste cutting fraud out of the federal government and bringing reciprocity to tariffs I think that's one thing that the mainstream media is
(1:12:06) doing that the broader public a mass disservice around is the the narrative around tariffs and thinking like we're we're just doing this to be bullies when it's like no we're actually just trying to negotiate to get things to even so that the American producer um gets their fair shake on on the global in the global markets um and the US economy benefits from that so yeah he's trying to do that and I think what's interesting is that Trump I think early on everybody expected that it was just going to be tactical right he was going
(1:12:37) to threaten Canada canada will get rid of some tariffs and then we'd be able to trade again uh I think that they're sort of surprising people that they they actually want to re-industrialize the country like they actually want to bring things back uh you can do that you know there are countries with very very sort of an assumption runs that Americans make too much money so we can't make things because Chinese are cheap but there are countries like Switzerland for example has about twice the manufacturing that the US does as a
(1:13:05) share of the economy okay and and wages are very very high in Switzerland probably about 50% higher than they are here uh so you absolutely can do this you at some point need Congress so you would need to you know lower business taxes uh you would need to get rid of some of the stupid red tape a lot of the environmental stuff uh sort of activists bought and paid for uh the crony regulations which almost all regulations are actually paid for by big business uh regulate me harder and they do this to restrict trade but anyway if you can get
(1:13:36) rid of those two things taxes and regulations you can literally bring stuff back here uh Chinese companies they don't care whether they manufacture in China they care whether they make money and if it's more attractive to produce here they will move here you know people forget companies are psychopaths that's sometimes that's annoying but sometimes it's quite good they they they really don't care they don't have any loyalty to anybody uh they will move here so it'll be interesting to see first off if Congress
(1:14:02) pays ball to the point where we can actually make it attractive to manufacture in America uh if so it's going to be a very very good four years for blueco collar workers uh between mass deportations and re-industrialization uh we could literally see a revitalization of the rust belt which I think would be Trump would regard that as his greatest uh promise fulfilled but it'd be fun if it happened yeah and we have a very recent example to confirm something you just said which is that uh even the Chinese if given the choice will come to make
(1:14:33) money we see this in Bitcoin mining Bitcoin China Bitcoin mining bam in 21 the Chinese miners who are some of the most industrious people I've ever met in my life just coming into contact with them in the mining industry quickly unplugged and relocated their machines all over the world many came to the United States as well and then having worked with Chinese entrepreneurs that's their number one thing on the top of their mind is how can I make as much money as possible yeah I used to work in the toy industry for a big Japanese
(1:15:06) company uh Takara maker of the Transformers and we compete against the Chinese and it's not just the wages and stuff i mean they they are sharp as hell uh Americans who dismiss them and say "Ah you know it's all fake it's got no no Chinese are freaking on the ball." But the beautiful thing is just like that they don't care whether they'll make it they will very happily come here stand up a factory hire thousands of Americans for decent wages they're in it for the money they're not in it for nationalism yeah Peter it's always a
(1:15:37) pleasure sir thank you it's great to see you Marty i appreciate being on thank you um that's all we got today freaks peace and love
