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Feb. 27, 2024 - Dinesh D'Souza
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FANI BUSINESS Dinesh D’Souza Podcast Ep778
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Coming up big hearing today in a Georgia courtroom over the Fani business Going on with Nathan Wade and Fani Willis. I'll talk about that Author and Bitcoin investor Ben Hart who happens to be my friend We went to Dartmouth together and were involved in the Dartmouth review We're gonna we're gonna talk about how Bitcoin can save the world Hey, if you're watching on rumble or listening on Apple Google or Spotify, please subscribe to my channel
This is the Dinesh D'Souza Show.
The times are crazy. In a time of confusion, division, and lies, we need a brave voice of reason, understanding, and truth.
This is the Dinesh D'Souza Podcast.
This afternoon, a judge will have a hearing over Fannie Willis and whether or not she, as well as Nathan Wade, her paramour, should be disqualified from the Georgia case against Trump and against the other 18 or so co-defendants.
Now, what's going to happen today is that the judge will be hearing from a guy named Terrence Bradley.
Who is Terrence Bradley?
Well, he's a buddy of Nathan Wade.
He's also a lawyer, and he eventually became Nathan Wade.
It was Nathan Wade's friend before.
And according to an affidavit filed by one of the defendants, this is a fellow named Mike Roman, he's been uncovering a lot of this stuff in connection with Wade and Fannie Willis.
According to Mike Roman's filing, this guy Terrence Bradley talked to Nathan Wade and Nathan Wade told him, confessed to him, that he was having an affair with Fannie Willis In 2021.
Now, this is very important because Fannie Willis was sworn in as district attorney in January of 2021.
According to this fellow Wade, the relationship was even prior to that.
But Wade and Willis have told the judge, have testified under oath, that their relationship romantic did not begin until 2022 after Wade had been made the chief prosecutor in the Trump case.
So we have here a simple question of honesty.
Because lying is bad.
Lying to the court is even worse.
And it isn't worse just in the moral sense.
It's worse in the legal sense.
Because if the judge can't believe you in statements that you've made under oath, Well, he can't believe you about anything else you say.
And moreover, lying under oath is a crime.
And you can be prosecuted for that.
Not to mention the fact that you can be disbarred from that.
You could be jailed for contempt.
You could be removed from office.
So Fannie Willis has some pretty high stakes going on here.
And... And there are two lines of attack against the credibility of what Fannie Willis is saying and what Nathan Wade is saying.
The first I just mentioned, and that is this fellow Terrence Bradley, and we're going to be hearing from him today.
I think this alone could be a devastating blow for Fannie Willis and Nathan Wade, because think about it.
There's already one witness. This is a black woman, a friend, who said, yeah, I can tell you that their relationship was prior to 2022.
So now if you have a second guy, a good friend of Nathan Wade, who says, Nathan Wade told me, that becomes very incriminating.
But it isn't just that.
You also now have the cell phone data.
And that's what I want to talk about.
The cell phone software is called CellHawk.
And by the way, it's software that's used by the Atlanta PD. So it's software that is already validated by, in a sense, Fannie Willis' office because they use this data to prosecute people for burglary and so on.
Your cell phone puts you right here.
Now... What does the cell phone data show?
It basically shows, first of all, that Nathan Wade visited Fannie Willis' residence 35 times before the so-called romantic relationship started.
So he visited her 35 times.
Now, several of those visits were in the middle of the night.
So what does the cell phone show?
It tracks Nathan Wade.
He is pinging off the cell phone tower near his own residence.
Then you begin to see the car move toward Fannie Willis' residence.
It comes into the vicinity of Fannie Willis' residence and then he stays there all night and goes back home in the morning.
Now, Fannie Willis has already filed a brief saying basically, what does this really prove?
It says that, So the point being, yeah, he might have been in Fannie Willis' area, but how do we know he went to Fannie Willis' house?
Now, Moreover, even if he did go to Fannie Willis' house, I suppose one could go on to argue, how do you know what was happening at the house between, say, midnight and 3.28am, that's where he was in that time frame, on September 12th, or between midnight and 5am on November 30th?
And basically, the Trump people, Mike Roman and his lawyers say, look, that's why we need ultimately Fannie Willis to come forward and explain what was Nathan Wade.
Did he come to your house?
Did he stay from 12 p.m.
to 5 a.m.
in the morning? Kind of, what were you guys up to?
If you weren't having a romantic relationship, what were you doing?
Were you going over legal papers?
At that time, there was no case.
So, now, in addition to this, there are communications, by which you mean texts and phone calls.
How many texts and phone calls between Fanny Willis and Nathan Wade in 2021?
This is when there's supposedly no romantic relationship.
12,000.
12,000.
Honey, do you and I, have we had 12,000 connections?
We probably have. But we are also in a romantic relationship and we are married.
So it's normal that we would do that.
We text each other when we're in the house.
Debbie goes, we do intra-house texting, which is true.
But what we're talking about, we're talking about communications here between Fannie, Willis, and Wade.
Heavy concentration, a lot of it after hours, seven days a week.
So again, you know, the judge wasn't born yesterday.
He's going to recognize that, yeah, it's theoretically possible that Nathan Wade went somewhere else near Fannie Willis' house, but extremely unlikely.
And moreover, all he has to do, and I think this is really what will close the whole matter, is he should demand to see the texts.
He should say, all right, You've got these, what, 12,000 communications.
Obviously, you don't have a recording of the phone calls, but when you do have the texts, let's look at the texts.
And I think we can all be pretty sure that these texts are going to be pretty steamy.
There's going to be a lot of stuff, very incriminating stuff on the texts.
It just has to show that they were not acquaintances or friends.
There was more going on.
And boom, that means she lied.
And that means what else is she lying about?
And I think this becomes curtains really for, not necessarily for the case, but certainly for Fannie Willis.
The other thing that Debbie was talking about a moment ago, which I think is true, would be really fascinating if the texts refer to Trump.
I mean, imagine if Fannie Willis and Nathan Wade in 2021 are talking about, hey, there may be a way if you win an election, you take office.
Well, actually, Fannie Willis took office in January of 2021.
Maybe we can work together in getting Trump.
This would be explosive bombshell type of stuff.
In fact, if there's this kind of stuff on the text, the judge may have to throw the whole case out.
Why? Because the whole case is now polluted.
It's a political hit.
It's basically two people involved in a relationship talking about their political motives and getting rid of Trump.
I mean, this would be radioactive type of stuff.
But even if you didn't have this, the judge doesn't need stuff about Trump.
He just needs clear evidence that Fannie Willis is lying.
See, so far when Fannie Willis came up with Aldi, you know, yeah, we went on trips together and so on, but I paid him back in cash, and here's my dad to testify that black people hoard a lot of cash.
It all sounds fishy, it sounds preposterous, but you can't prove it's false.
You don't know for a fact that she was lying.
And so the judge, I think, is looking for something where he can go, aha, look, you said X, the truth is Y. Here's indubitable, incontrovertible evidence that this is in fact the case and that you deliberately misled me and you deliberately misled the court.
Now, the question is, if Fannie Willis gets the boot, as I think right now the probability is that she will, what will happen next?
Well, there are two possibilities.
One is that the case will go back to the office.
They will have to find—they can't use any of the other prosecutors who are part of Fannie Willis' team.
They would have to sort of find another way to jumpstart the case again.
At the very least, this would cause enormous delays.
It's hard for me to see how this case could even be heard under that circumstances before the election.
But the other possibility is that the case is so irremediably tainted.
People are so done with it.
Fannie Willis is so discredited that this particular case against Trump just kind of falls by the wayside.
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Guys, I'm really delighted to welcome to the podcast, well, an old friend of mine, Ben Hart.
We went to Dartmouth together.
We were actively involved in the Dartmouth Review, a rebel undergraduate newspaper.
Ben went on to a highly successful career in advertising and direct mail.
He is also a technology investor.
He's written a series of books, including books about advertising, but also books about politics and about faith, faith and freedom.
A book that he wrote right out of Dartmouth called Poisoned Ivy, which was a kind of a preview of the whole woke phenomenon we're dealing with in his new book.
Bitcoin, Bitcoin, a beginner's guide.
And we're going to be talking about Bitcoin.
But Ben, welcome to the podcast.
Great to have you. I want to start with something that I'm not going to focus on, but you've...
You sort of plunged into the public arena recently in a very odd way.
And that is that you and your daughter Maddie have made now a couple of videos apiece airing some family business, you might say, in public.
Can you just give a brief summary of what that's all about?
And most importantly, I want to ask you as a dad, why would you engage a topic like this in the public arena?
Oh, right. Yeah, well, my daughter, literally out of the blue, launched this kind of video attack on me.
Actually, that wasn't really an attack, but she mentioned some things about how I hadn't paid medical bills and kind of implied that I was a deadbeat dad.
It kind of began as a funny video about how I left the family for breakdancing, which isn't true.
We did get a divorce in 2005, but I just took up breakdancing for exercise in 2012.
So really, there was no truth to her video, though I actually liked about 98% of it, and I thought it was actually kind of a good storyline that her dad left the family to pursue a breakdancing career.
So in a way, I thought that was funny and it would be a great movie plot, but I had to correct a few of the inaccuracies in her video, like implying that I didn't pay medical bills. And yeah, I paid millions of dollars to the family. I live just down the street. I saw the kids all the time.
In fact, I had Christmas, we had a Christmas dinner just this past Christmas, a few weeks ago, all the kids were there. We had a great time and I have a great relationship with Maddie.
I mean, I thought I did.
I mean, we're literally text messaging back and forth all day, all the time.
She's telling me what's going on in her life.
I give her tips on her videos.
She's an assistant writer for Paramount Streaming.
She's definitely on the woke side.
She's definitely on the left. But she's a very smart person, very talented, and she also has the side hustle as a social media influencer, and she's built up quite a following there over on TikTok.
And so I wake up one morning, wake up, I think it was last Sunday, Sunday, February 18th, it was actually my birthday, and I opened my computer, and I'm greeted with all these messages, you know, social media, even though she's Not really on X. All of these social media just garbage is coming.
Comments are calling me deadbeat dad and all kinds of horrible names.
And I'm thinking like, what is this about?
And so then I go over to TikTok and I see her video has 7 million views.
It's got a million likes.
It's got, you know, 40,000 reposts and so forth.
And I said, oh my gosh, I better watch this video and find out what it's about.
And so I saw what it was about and there were some definitely inaccuracies in there.
And I think she didn't really intend harm by it.
But she definitely intended to deliver a few shots along the way, and I just kind of had to correct that.
So I put out a video which was very upbeat, very just, you know, I like 90% of your video, but here are the factual inaccuracies.
And then, you know, I gave millions of dollars to my ex-wife and $600,000, I think, into the college fund and, you know, paid all the medical costs, of course, insurance and all that.
So totally... They did very well.
They lived on a wealthy suburb in Illinois.
Did very well. She graduated from Northwestern University, which I think is about $65,000 a year.
So it's really an elite school.
And so she really had nothing to complain about in terms of the money.
And I saw the kids all the time.
So then she came out with a very negative video, much more negative, and with even more inaccuracies and just really almost nothing true about it.
And so to answer that, I released a second video that included the whole movies of us going to the beach and water parks and vacation, you know, or a car trip across the country.
We went to Yellowstone Park.
We went to Las Vegas.
We went... You know, so basically it just really refuted a lot of her, you know, her accusations there.
I mean, there's no question about it.
And these videos got millions of views.
My first video got 33 million views on X alone.
It got 2 or 3 million views.
The second video got 2 or 3 million views.
And Elon Musk actually weighed in and commented on both videos.
And then it became a real kind of internet storm.
So people We're making podcasts about it all across YouTube, all across TikTok, some of them good, some of them neutral, some of them very much against me, some in favor.
So it just became this total internet firestorm.
But I love my daughter, love Maddie, love all my kids.
They've been very successful.
One works at a hedge fund in New York City.
She's doing very well.
She was made partner there.
Maddie, of course, is an assistant writer on a TV show for NBC. I have another daughter who just graduated from college and is teaching first grade in Thailand, and I have a son who is getting a master's degree in psychology.
So they're all doing great.
I see them all the time, talk to them all the time, saw them all at Christmas.
Maybe we didn't have Thanksgiving together, or maybe some of us did.
But we have a house in Illinois, which is about an hour from where the ex-wife lives, their mom.
And we also have another house in Florida.
And so we're generally in Florida during the winter and generally in Illinois up there when the weather is good.
So that's basically the arrangement.
The kids are all grown up. They're graduated from college.
You know, and I thought, I believe I have a good relationship with all of them.
Now, the girls seem to have kind of rallied around Maddie, seem to have rallied with their mom, and that sort of is natural in this kind of a, I mean, I see this in divorces all the time, where the kids are living with the mother, and the mother, you know, in almost any divorce, the mother is the one that's really raising the children.
I don't think it's a good idea to have the kids shuttling back and forth between houses and beds and so forth.
Just let the mom raise the kids.
Dad's job is to provide the money, see the kids whenever they want to see.
But I generally saw them once a week, and they were just down the street from us before they moved to Wilmette in 2012.
My ex-wife got remarried, and they moved to Wilmette.
So that was about an hour away.
But before that, we lived about a mile, mile and a half down the street in LaGrange from their house.
Then we bought a house, I think, in 2011 in Willowbrook, which is about an eight-minute drive away.
And they did come over to the house.
She said, I never went to the house.
But actually, we have photographs.
They were at both places.
We had Thanksgiving dinner at our house.
So she was just incorrect on that.
But I love her dearly, and I think she's, unfortunately, because my videos came out, a lot of negative comments were directed toward her, and that's really unfortunate.
So hopefully that fence can, hopefully that bridge will be repaired.
I mean, my advice, Ben, is, you know, I think it's time to de-escalate and to sit down with her in person because, you know, there's clearly a difference.
There's clearly some sense on her part, whether she's been indoctrinated or not.
And you implied that it's, you know, it's the ex-wife.
It's also the culture.
She gets this from her professors.
Women are a victim.
There's a kind of ready-made ideology at hand here that she might be kind of glomming on to.
But my advice is to sit down with her and just spend some time kind of hashing through these issues without the cameras rolling, and hopefully there won't be any damage there that is long-term.
Absolutely, Dinesh. And, you know, I've texted her a few times to that effect.
Right now, she's declining to do that, but I think as the days pass, and hopefully maybe weeks, I'm happy to go out to LA and just hang out with her, and I put out that offer, just hang out, go to the park, take a boat ride, whatever, and just kind of hang out and just talk about this,
because... You know, really, I mean, if you scroll through our text message conversations, you know, literally, I'm not going to show you the actual conversations, but I have to scroll down here just to find out where she is.
Hold on a second. It's kind of...
If you go through these, oh here, okay, let's just see, let's just see.
So, if you take a look at our conversations, you know, it's love, it's love, it's like, it's just, the conversations are constant, and they're literally every day, and they're going back and forth all day.
And she's telling about things are going at work, how things are going on in her life, this and that, you know, the boyfriend.
Whatever, you know, these messages, these conversations are going along fine, and they all end with, I love you.
That means, her message is to me, my message is to her, I love you, emojis and stuff, you know, it's just, you know, I send her a video of me skiing, unveil, breakdance practice or whatever, breakdance event.
She sends me, you know, shirts that she's had printed up to sell on, of her, to sell as merch on her site to her followers.
This is just, this is literally just constant.
So as far as I, in my mind, up until this just video thing that came out on TikTok that got 7 million views, I thought everything was absolutely fine.
Now, of course, as you say, in any kind of divorce situation, Maybe things aren't quite as fine as you think they are, you know, because when you are divorced, when your parents get divorced as a young child and suddenly, you know, your father is no longer there, I mean, who knows how that wires the brain and even if they don't think,
even if they think everything is okay, maybe things aren't okay, you know, so, or maybe there's like 10% or 20% in their brain that is thinking, you know, I really feel like I got kind of shafted here or something like that, but...
Obviously, I think in my first video, I said, I take probably 70% of the blame for the breakup of the marriage.
I own that.
And so, in that sense, I think I had a lot to do with that.
I think I really tried to have a good relationship with the children.
Now typically I've spent a lot more time with my son because the girls as they become teenagers and middle schoolers, they want to hang out with their friends, they don't want to hang out with their dad, and I'm not going to enforce the visitation agreement.
If they want to come to breakfast, if they want to come to dinner, they want to come to lunch, they want to go to the water park, they want to go to the beach, great.
If they don't, I'm not going to force them.
So you know, there was a tendency there, you know, that it gets complicated.
I mean, it just highlights that there is a fracture that divorces produce.
And I also think what's interesting when I look at the comments that other people have made and some, you know, Michael Knowles is waiting on this and Matt Walsh is waiting on it.
And what a lot of people do is they project things that have happened in their own lives onto your life.
Of course, none of us were there.
None of us can see things up close.
So there's a natural kind of distortion that occurs in the public sphere.
Yeah. And I think that's actually, Dinesh, just to chime in here, I think that's a fault with conservative messaging in a lot of ways.
So if you look at the comments that are coming to my video, I'm getting enormous support from the black community.
And you can say, well, why is that?
Why am I getting so much support from the black community?
And I mean, it's like almost universal.
And getting more criticism from the liberal whites, but why are black people supporting me more?
And of course, they more experienced directly a lot of home breakup down, you know, in their communities, especially in the inner cities, in the working class communities.
And the legal system is very much tipped in favor of the woman.
Now, I think that that, I think what's happened is, at one point, the legal system was really tipped against the woman, right?
So, typically, you know, let's think back in the 50s or 60s, it was a stay-at-home mom, and it was a, and by the way, this gets into Bitcoin, by the way, because there's There's a solution there, and Bitcoin fixes the dishonest money.
It's the money printing press that creates a lot of this.
We can get into that later.
But the black community really experiences this firsthand, how the legal system is tipped against the mail.
And so if someone at my level...
Yeah, I can afford the child support.
I can afford the alimony.
I can generally afford to provide a good life for my kids.
But at the working class level, where they're on a fixed income, they're just getting hammered by the legal system.
Then they have the mother at home with the kids, and she's just dumping on the father, you know, because of the door situation.
And then what happens? They can't keep up with the payments.
Then they end up in jail.
I mean, it is just brutal.
And I don't think it's not just a rare occurrence.
I would say it's the majority of the occurrence.
So these males are just getting brutalized by the legal system.
And then what happens is, you know, of course, they fall into crime and whatnot.
So... You know, they just give up.
You know, they commit suicide, they become alcoholics, they become drug addicts.
And so they really identified with kind of my perspective or my situation.
So whereas, you know, so there's a problem with the legal system.
It's very much tipped against the male.
And there needed to be an adjustment because, you know, back in the old days when most of the women were stay-at-home moms, the guy would just take off and abandon the family and she was left with no money and all these kids.
So, yeah, there had to be an adjustment there, but there's been an overcorrection.
And I don't know what the solution is.
I have no idea what the solution is.
But one thing I would say about the conservative messaging that I think is off is they say, okay, the solution is we need intact families.
Right. Well, what is the policy solution to give us intact families, right?
There's so many factors that feed into the breakup of the family.
There's no policy solution to that.
So when you tell somebody who has, let's say, a working class family, let's say inner city family, let's say black family, well, our solution for you is...
Dads need to stay in the home.
Well, that's not really a solution.
You know, it's not a practical solution.
It's not what the life, I mean, half of marriages end in divorce for all kinds of reasons, economic reasons, you know, because they didn't get along, or maybe there's alcohol, substance abuse, whatever, you know, cheating, unfaithfulness, and so forth, all the kind of normal human failings, you know, relationships are tough.
I mean, You know, of course, relationship till death do us part made sense when life expectancy was age 28, right?
But it's a little harder when it's age 88 or something like that.
So, you know, obviously the ideal thing is husband and wife stay together, father's in the home all the time, and it's, you know, it's an intact nuclear family.
But to send that out as, this is our solution for you, you need to have fathers in the home, you need to stay married, you need to And while that is true, that is ideal, you know, the fact of the matter is that's not the case in like half of marriages.
So I think we need to adjust our messages.
So Michael Knowles and some of these guys, Matt Walsh, who I like, I like them a lot, but I think that they're kind of tone deaf on that point.
Yeah, let's take a pause.
We'll be right back with Ben Hart.
We're going to talk about Bitcoin, his book, Bitcoin, A Beginner's Guide, and more with Ben Hart in a moment.
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I'm back with my longtime friend Ben Hart, advertising executive, technology investor, author of Bitcoin, A Beginner's Guide.
And Ben, I think, you know, Bitcoin is something that people have talked about.
I know a little bit about it.
I can't say I know a lot.
And so in this interview, I'm going to be asking you sort of Bitcoin for dummies types of questions because I want people to sort of get an understanding of Bitcoin from the ground up.
So let's begin with the very simple question of, you know, we hear about cryptocurrency, we hear sometimes names of various currencies, we hear about Bitcoin.
What is Bitcoin?
Yeah, Bitcoin is the first successful digital money, and it's the only truly decentralized digital money, meaning that nobody owns Bitcoin.
It can't be controlled by government.
It's not controlled by any person.
It's not owned or controlled by any one person or any small group of people.
It's a decentralized ledger.
It's digital money.
It's really the only successful digital money.
It's a decentralized, synchronized ledger of transactions that's distributed every 10 minutes to a network of about a million computers, a million miners, and validating nodes across the world.
And it's the only digital currency, digital money that's been able to achieve true decentralization.
And that really is what makes Bitcoin unique.
Now, Bitcoin was the first transaction, occurred in 2010, commercial transaction, when Laszlo Hanez bought two Papa John's pizzas for 10,000 Bitcoins, which works out to about one-third of one penny, and today Bitcoin is 56 or 57.
$56,000, I think, per coin, $57,000.
So that's the growth.
It is very volatile. So anything I say here is not investment advice.
It can drop 75%.
It was $65,000 a coin in November of 2021, and then it dropped down to $15,000 or $16,000.
So that's a 75% drop.
So you don't want to...
When you're investing in Bitcoin or really anything, but Bitcoin especially because there's technology to it, you need to put at least 100 hours of study into it because the only way you can withstand emotionally the volatility of the asset is to truly understand it, that it's not going to zero ever.
Now, you described it sort of in almost abstract terms as a ledger, a financial transaction, but then you also referred to mining, which would imply that there were some physical basis or commodities behind it.
What's the connection between the mining and the ledger?
Oh, the mining. Okay. Well, okay.
Mining gets kind of into the complicated stuff, but I'll tell you, try to do it quickly.
Okay, so this ledger is updated every 10 minutes, and it's distributed.
It's distributed to about 1 million miners and nodes out there.
And what these miners are doing is they are competing every 10 minutes.
They are competing to mine the next block.
And so if they win the race, which is a number guessing game, and there are...
To give you an idea of the compute power of the Bitcoin network right now, to win the guessing game, the compute network power is 6 trillion calculations per second.
So you've got to have that kind of compute power.
So Elon Musk, for example, was surprised to learn, I just saw his post on it the other day, just an answer, that the Bitcoin network has more compute power I think we're good to go.
Okay, the purpose of Bitcoin is to secure your wealth.
Make sure no one can hack in.
Because if there was ever a hack of the underlying Bitcoin technology and people could just hack in, it would obviously be the end that people just wouldn't be interested in it.
So that would be the end of digital money.
That would be the end of this digital money, if that could ever happen.
Satoshi, which is the pseudonymous inventor of Bitcoin, he emphasized security.
Bitcoin is digital gold.
Gold is not something you use at the grocery store to buy your groceries, to buy your cup of coffee.
Your dollars are fine for that.
But what Bitcoin does is secure your wealth in a transportable way.
So it's digital gold.
So gold, you really can't carry a gold bar around.
You can't take it across border.
If you tried to send your gold bar from New York to London, it would cost you a lot of money, much less if you tried to send it to some remote place to try to get away from some totalitarian dictatorship if that should arise here.
So Bitcoin is really the second amendment for your money, for your wealth.
It separates money and state.
Bitcoin is an automated protocol.
It's a software protocol that was just launched by Satoshi, which I believe is a group of these brilliant libertarian-oriented computer engineers.
Just incredible. And my book goes into the story of how Bitcoin evolved, and the story is just really amazing.
And these guys are so smart.
It's just unbelievable. Yeah.
And so it's a software protocol and it can't be changed.
So there'll never be more than 21 million bitcoins.
Its purpose is to be honest money.
So it's a scarce asset.
The reason gold is valuable is because it's scarce.
It's difficult to get.
And people do mine it. Big companies mine it.
But the supply of gold increases about 1% per year.
And so Bitcoin really kind of mirrors that.
And this process called mining, Satoshi or the group of people, they basically wanted to replicate mining of gold in the digital world.
That was the concept. And what makes gold valuable, not only is it scarce, I mean, snowflakes are scarce, right?
But there's like, you know, one of a kind snowflake, that kind of thing.
But the snowflake is not really valuable because it disappears and it's, you know...
The other thing that makes gold valuable is it's difficult to mine.
It's the 600 trillion calculations per second, and then this is every 10 minutes, and then there's a contest.
Then the winner of the contest gets to mine the next block, block of transactions.
And he gets, or the miner gets, 6.25 bitcoins plus transaction fees, so that works out to about, I don't know, 9 or 10 bitcoins.
It fluctuates depending on how busy the network is.
And so there's a big financial incentive for these miners to protect the network.
So they're not going to mess with the network because otherwise they're going to wreck their own Bitcoin.
So they are very incentivized to...
And the bigger the network gets, the more compute power is used, the more secure it is.
Now, people say Bitcoin is a waste of electricity, right?
But when you consider...
How much electricity is the military using?
The police, the courts, our banks, right?
And what is the purpose of the military, our courts, our banks, police?
It's to secure property.
It's to secure assets.
And so that's what Bitcoin is.
It's a way to secure your wealth.
And it's a solution to the money printing press, the fiat money printing press, which really started in earnest in 1971 when we went off the gold standard.
Ben, stop there. Stop there because I want to come back and dive into that because Bitcoin is a solution to a problem and I want you to describe the problem and how Bitcoin solves that.
So we'll be right back with Ben Hart.
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I'm back with my friend Ben Hart.
We're having an interesting introductory conversation about Bitcoin.
Ben, Bitcoin is a solution, but it's a solution to what may be called the money printing problem.
You were just about to start outlining that.
So describe briefly the problem and describe how Bitcoin solves it.
Oh, yeah. Okay, so we went off the gold standard in 1971 completely.
We actually went off it earlier than that, but we'll just say, for the sake of here, 1971, Nixon and Congress took us off the gold standard because they had to find a way to fund both the Vietnam War and the Great Society welfare programs, LBJ's Great Society.
And Nixon also, of course, was interested in re-election.
So what is the solution?
Well, you can't fund both war and welfare programs if you're on the gold standard.
So the only solution is to just...
Go to a government fiat money printing system.
Print as much money as you want.
And it's really interesting because, you know, I was a Nixon supporter back in 1968 and 1972.
But when you think about it, so he won 49 states in 1972.
And why did he? Well, because we were on the money printing press.
And so you're getting this cocaine high, this sugar high of a booming economy.
And, of course, he's ending the Vietnam War also at the same time.
So he wins 49 states.
But it was really... Kind of a bad thing because right after that, inflation just went through the roof.
You know, remember the Carter years, you know, we had 18% or 12% inflation and really probably higher than that and 18% interest rates, prime interest rates.
You know, you had interest rates.
So that's what that produces.
So what they did then is they kind of scaled it back.
Volcker came in and kind of ratcheted back down, and it caused a huge recession, right?
But he had to do it because he wanted to put us back on his money, but also because the world is on the dollar standard.
So even though we have a corrupt money system, a money printing system, we are actually the best currency in the world.
So the rest of the world is buying dollars, and the only reason our economy stays afloat is because the rest of the world is buying dollars.
But if ever the rest of the world stops buying dollars, All the dollars will become worthless and basically everything will implode.
So basically what the Fed wants to do is keep the inflation rate, the money printing rate, at about 2% or 3% per year.
But we saw during the COVID pandemic that they just printed and dumped about $10 trillion on the economy and then we saw the result of the inflation.
But also the inflation numbers coming out of government are completely phony.
So if we were using the CPI to calculate CPI, if the government was using...
Same standard as in 1980.
Inflation would actually be about 5% or 6% higher.
In addition to that, technology advances reduce the cost of producing things by about 2% or 3% per year.
So that's really another way that the government is ripping us off.
But to give you an idea of the extent of the problem, when we went off the gold standard in 1971, one ounce of gold cost $35.
Yeah. Today, an ounce of gold costs over $2,000, I think $2,040.
So the dollar has lost 98.5% of its value since 1971.
So instead of paying $45,000 for an average car today, you should be paying about $800 for the same car.
My dad bought our house in Vermont for $20,000.
That same house is over a million dollars today.
So that gives you an extent of the theft that has happened by government.
But people don't really notice it because, you know, when it's 2% or 3% per year, but over time, and then sometimes it goes up like during the pandemic to 10%, but it is theft.
And it's not just the 2% or 3% inflation that is the CPI. It's A, a rigged CPI number, and B, They're stealing.
Everything should be getting cheaper, not more expensive.
Why are groceries going up?
They should be getting less. It's more efficient to farm today than ever.
They've got computerized tractors.
It's AI farming.
It's big. But food is getting more expensive.
So everything's getting more expensive.
It all should be getting cheaper.
And people say, well, we need a little bit of inflation to grease the economy.
Well, I don't know. If you need an iPhone, are you really going to not buy one because you're just going to hoard that money?
No. And actually, during the 19th century, We were on the gold standard.
So the gold standard is in the Constitution.
I think it's Article 1, Section 10, something like that.
We've never got off the gold standard.
It says in the Constitution that all debts can be satisfied legally with payment of gold or silver coins.
And we never went off that, so all this money printing is illegal and unconstitutional.
And we had a booming economy in the 19th century.
America was the place people wanted to go.
Tocqueville wrote about this, like, what the heck is going on in America?
It was just this capitalist engine, and we were on the gold standard.
Yeah, we had a civil war.
That hurt. Then they went on fiat money printing to pay down civil war debts.
That's true. But then they tried to go sort of back onto the gold standard.
But basically, the root of all problems started in 1913 with the creation of the Federal Reserve.
So the Federal Reserve was created to kind of stabilize everything.
But actually, that was the beginning of the corruption.
Yeah. And given how far things have deteriorated, given the fact that they have been printing money, as you say, for now, what, almost half a century?
Right. And there are people who think that a financial apocalypse may be around the corner.
You write, I'm not quoting you, if all hell breaks loose here, which I'm assuming you think is a possibility, Bitcoin allows you to carry your assets with you To wherever civilization might still exist.
I mean, this almost sounds like a line out of The Terminator, you know.
It is a little like that. Well, you know, I kind of compared Bitcoin to The Terminator because you cannot kill it.
You know, China tried to in 2001.
They outlawed Bitcoin mining, outlawed Bitcoin transactions.
60% of the Bitcoin mining was happening in China, like in the mountains and so forth, out of range of government.
But they cracked down on it.
And the miners left China and went to places like Kazakhstan and the United States and other places around the world, Afghanistan, wherever.
And so the mining hash rate, the compute power, went down when China did that, but then quickly went back up.
And so then China apparently gave up cracking down on it because 20% of the world's Bitcoin mining is being done in China now.
So if China cannot kill Bitcoin, and they tried, it's pretty hard to do.
I mean, I'm... Yeah.
This is a fascinating book, guys, because it has chapters called, you know, How Bitcoin Fixes Corrupt Fiat Money Printing.
Why much of the world wants to get out from under the U.S. dollar.
Bitcoin is your defense against big tech's emerging push-button totalitarianism.
And then finally, Bitcoin is an extension of the American idea.
So check it out. The book is by Ben Hart.
By the way, you can follow Ben Hart on X. Ben Hart underscore freedom.
Ben, thanks very much.
Ben Hart freedom. You'll find me.
Can I say one more thing? Sure.
Is there more time? Just a little more time.
The reason inflation is so insidious is it is a regressive tax.
Inflation hits the working class and the poor people, people on fixed incomes hardest.
People like you and me, or people in the top 5%, 1%, we can afford to buy things that tend to appreciate in value, like real estate, the S&P 500 index fund, things like that, that appreciates in value in relation to the dollar, right?
But if you're on a fixed wage and you're getting killed by inflation, so basically this money printing press is a giant wealth transfer program from the poor to the rich, to the lower classes to the rich.
And I think that's why Trump is so popular, because they kind of hear like he's kind of working class vibe a little bit. But that's huge. Now, you mentioned about the economic collapse, the 35, 34 trillion dollar national debt, and I think it's going to be 100 trillion pretty soon.
And they'll just print money to pay the interest rate to keep the Ponzi scheme going, basically.
But what happens is, is they have to print money at faster and faster rates in order just to keep up with the interest rates and the rising debt, the 100 trillion, the 200 trillion debt.
And eventually, you know, we could become the Weimar Republic, which gave us Hitler, and that's why I use these apocalyptic terms, or we could become like Venezuelans, or more likely, we just kind of become this, you know, totalitarian, this tech totalitarian feudal structure, where big tech, in a partnership with big government, can keep the masses down while you have trillionaires like, you know, like Bezos and a few tech titans at the top.
That's what it's going to be. What a dystopian picture.
Thank you very much, Ben. Appreciate it.
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