March 3, 2025 - The David Knight Show
19:21
| 
| Time | Text |
|---|---|
| as angry tiger said it was really odd that when trump put out his first post he didn't mention bitcoin he didn't mention ethereum he mentioned uh xrp which is ripple s o | |
| which is Solana, and Cardano's ADA, that's his symbol, ADA, as part of the Crypto Strategic Reserve. | |
| I looked at this, and like I said, I don't know what Solana is. | |
| I don't know what Cardano ADA is. | |
| I know that XRP is Ripple. | |
| I know that they, a few years ago, I had seen some stuff about them because they were trying to set up their cryptocurrency to do what Bitcoin's initial mission was. | |
| And that was not to be an asset that was held, but it was to be a medium of exchange. | |
| And when you look at what Trump is doing with Bitcoin Reserve, That's exactly what Roger Ver was talking about in the book that he co-wrote with another person. | |
| The fact that Bitcoin had been hijacked. | |
| Bitcoin was meant to be an honest medium of exchange that wouldn't be manipulated by the system. | |
| And yet now it has become an asset that people gamble with. | |
| And I say gamble because of its volatility. | |
| So the president later added Bitcoin and Ether. | |
| Ethereum, I think is what it is, but they say Ether. | |
| And he said it would be the heart of the reserve. | |
| Wow. | |
| You know, when you look at this, there was a Peter Schiff tweeted about that. | |
| He said, I get the rationale for a Bitcoin reserve. | |
| I don't agree with it, but I get it. | |
| He said, we have a gold reserve, and Bitcoin is supposed to be digital gold, which is better than analog gold, they say, so let's create a Bitcoin reserve too. | |
| But he said, but what's the rationale for XRP being in the reserve? | |
| And he says, why would we need that? | |
| Why would we need these even more so? | |
| Why would we need these other two? | |
| But again, Trump says, it's the heart of the reserve. | |
| And so then he comes back and he says, well, I love Bitcoin and Ethereum. | |
| Crypto is spiking as Trump discusses strategic reserve ahead of the White House summit. | |
| And apparently, according to Zero Hedge, somebody was pretty confident about that occurring. | |
| They said somebody went 50 times long on Ethereum and Bitcoin with $200 million. | |
| $200 million bet. | |
| Does anybody know what Nancy Pelosi did this weekend? | |
| I don't know. | |
| This is either a very rich degenerate or a market maker that's about to move the market in a meaningful way on the spot side. | |
| Or, they said, simply put, this looks like an insider March 7th confirmation of a U.S. strategic Bitcoin reserve is locked. | |
| Somebody's got some inside information, so they're putting a $200 million bet on this. | |
| Knowing that it's not going to devolve into a shouting match like the Zelensky-Trump thing. | |
| So, going to move forward on a crypto strategic reserve that includes, said Trump, XRP, SOL, and ADL. I will make sure the U.S. is the crypto capital of the world. | |
| And so again, later on, you mentioned that... | |
| Bitcoin and Ethereum would be the heart of the reserve. | |
| So I wonder how many of these things are going to be in there. | |
| Will the Melania coin be in there as well? | |
| Trump? | |
| How about the Libra coin that is the basis for some people trying to impeach Javier Malay down in Argentina? | |
| Will that be in there as well? | |
| Trump has announced a crypto strategic reserve consisting of Bitcoin and other top cryptocurrencies. | |
| This is consistent. | |
| With his first week executive order, writes David Sachs, who's also in on this. | |
| He's part of some of the crypto bros. | |
| Trump is keeping his promise to make U.S. the crypto capital of the world. | |
| More to come at the summit, which will be on the 7th. | |
| Four days from now. | |
| Was that Friday, I guess? | |
| Yeah. | |
| Trump will host the first White House crypto summit on March 7th, bringing together industry leaders to discuss regulatory policies. | |
| Stablecoin oversight and the potential role of Bitcoin in the U.S. financial system. | |
| You see, it's interesting to see how Trump and Biden pursue the same end with different means, isn't it? | |
| So the Biden-Democrat approach is in March of 2022 to say, well, we're going to... | |
| Everybody in all of government, you know, the entire executive branch, I want you to report back to me in six months four different areas. | |
| How are you going to completely restructure the financial system? | |
| That was number one. | |
| Number two was we're going to write the code. | |
| Number three, how are we going to use law enforcement to coerce people into doing this? | |
| And then number four was, and let's use the excuse of climate change. | |
| So give me excuses about climate change because we've got to say that Bitcoin and proof of work uses too much energy. | |
| Well, that... | |
| All went out the door with AI, right? | |
| Nobody cares about that anymore. | |
| Now, you know, there's no concern at all about energy usage, as long as it's for spying on us and lying to us, which is what AI is about. | |
| So that's the Biden approach. | |
| You know, let's just, by fiat, we're going to completely restructure. | |
| We're going to have law enforcement get in and rubber hose people to death, you know, with this stuff. | |
| And we're going to concoct a lie on how to do it. | |
| And then, of course, the fourth one was he had to have somebody actually write the code. | |
| Now, the approach that Trump is going to take is let somebody else write the code in a private company, right? | |
| Not going to have the government do it. | |
| We'll do it all through corporations. | |
| And we'll do it all through a summit in the White House that you're not a part of that. | |
| You're not invited. | |
| Your elected representatives won't have a say in it. | |
| This will be something that Trump does with the corporations and the CEOs and the technocrats that are out there. | |
| They're going to put this thing through. | |
| And then they're going to persuade you to do it. | |
| They will offer some incentives, like Mike DeWine offered a possible, you might win a million dollars if you take the vaccine. | |
| Of course, you might also die or have your body destroyed. | |
| But, you know, you could win a million dollars. | |
| That'll be the Republican approach, is to do it through the private industry, do it through enticement, seduction, persuasion, coercion, as opposed to do it or else, you know, which is the Democrat way. | |
| And quite frankly, I think that the Democrats are far less dangerous. | |
| Because when everyone comes up to you, points a gun in your face, and starts to, you understand what they're about. | |
| When the Republicans come in and portray it as just a free market operating. | |
| Yeah, these guys are making this stuff all free to themselves. | |
| They're helping themselves to a free stash that is there. | |
| So, this is going to be March 7th. | |
| Lutnik and pals will be there. | |
| And, you know, lucky Lutnik, who somehow missed all of that 9-11 stuff, you know. | |
| He and his pals, While the cryptocurrency industry has cheered news of a national stockpile, some economists have raised concerns about the proposal. | |
| They point to cryptocurrency's volatility, arguing that the government is purchasing cryptocurrency as a gamble. | |
| And it would primarily benefit existing crypto holders. | |
| That's how Lucky Lutnik makes his money in most of these guys around Trump. | |
| They get in there first, and then they pump it up, and then they dump it and they leave you holding the bag. | |
| I think it's something like, I forget how many billions of dollars people who bought Melania Coin lost. | |
| They fleeced them for billions of dollars. | |
| You know, you go back and you look at the Stop the Steal garbage that he was doing. | |
| Save America. | |
| Stop the steal was Alex Jones ripping people off and luring them into a dangerous situation. | |
| And Save America was Trump doing the same thing. | |
| And he only fleeced them for about $250 million. | |
| Just with the Melania coin, they've ripped people off for billions. | |
| It's lost over 90% of its value right away. | |
| But the people who put it together, just as Lutnik has done time and time again, Trump's Commerce Secretary. | |
| They make all their money up front. | |
| Mark Zandy, the chief economist at Moody's Analytics, said, I get why the crypto investors would love it, but other than the crypto investor, I don't see the value, particularly if taxpayers have to ante up. | |
| Well, think about this. | |
| If Trump is able to completely bankrupt the United States, And again, I don't know. | |
| We'll talk about this Fort Knox thing. | |
| That whole thing is another one of these, you know, we laugh about it. | |
| It's like, yeah, I'd love to see that. | |
| But of course, there's nothing real that's going to come out of that. | |
| The Fort Knox thing is going to be another Epstein files, another JFK files, another 9-11 files. | |
| It's all hype and a nothing burger, right? | |
| It's just misdirection in theater. | |
| But the question is, what's the purpose of it? | |
| Yeah, he's playing to his audience like he does with the Epstein files and all the rest of this stuff. | |
| But I think that I'm not exactly sure how they're going to use this. | |
| But I think that they're going to use this Fort Knox thing to undermine people's confidence in institutions and the dollar, things like that, to try to move them to some new financial system. | |
| Because the whole purpose of everything that Trump and Musk are doing, even though I agree with... | |
| Some of the things that they're doing, in theory, if they are doing them, and again, I don't know if it's real or not, but if you're going to cut down government, you need to just shut these things down and say government should not have any role here. | |
| And you've got to also shut down the other programs that are there, not just the bureaucracy, but you need to rethink the purpose of government and go back to a more foundational level, which they're not doing. | |
| I think they want to, again, get rid of the people that are in the government and replace them with artificial intelligence. | |
| And that's going to be a much worse system. | |
| Far more intrusive, far more controlling. | |
| So I'm very concerned about what's coming and how they're going to use this. | |
| And I feel the same way about this Fort Knox thing. | |
| I know that Musk and Trump and all the crypto boys want to put us into a crypto system. | |
| That may be a part of it. | |
| One cryptocurrency that Trump's Sunday announcement did not name is Tether, which is pegged to the U.S. dollar, which is also pegged to Lucky Lutnik, although he claims that he has divested himself from it. | |
| You know how that goes. | |
| It is notable because Trump's Commerce Secretary, Howard Lutnik, has ties to Tether with public reporting suggesting that Cantor Fitzgerald, which Lutner has long led, And, | |
| of course, we know how that's going to work out. | |
| Again, that he didn't talk about is Tether, but when you look at these other ones, the bigger picture, I think, is from Free Thought Project, Matt Agorist. | |
| And I like his headline. | |
| Banning CBDCs is a Trojan horse. | |
| Private coins, he says, are the only way forward. | |
| Well, I disagree with that. | |
| I do believe that banning CBDCs is a Trojan horse, and I've said that from the very beginning as well. | |
| He said, while Trump's recent executive order banned the creation of a U.S. CBDC, the forces pushing for global financial surveillance are far from retreating. | |
| Instead, what they're doing is they're relabeling and rebranding and all that. | |
| That's what he's saying. | |
| I've been saying this from the very beginning. | |
| I said this before the election. | |
| I said this when he started talking about having a Bitcoin reserve. | |
| I could see the contours lining there. | |
| And then, when you look at his cabinet, It validated everything about that. | |
| In other words, I looked at it. | |
| It's like, well, I think this is what he's going to do. | |
| And I said it then. | |
| I said, I think they're going to come up with a public-private partnership form of CBDC. So it would be a PPPDC, a public-private partnership digital coin, rather than a central bank digital coin. | |
| And then when you look at the people that he brought into the administration, personnel, or policy, it's like, yep, that's what it's going to be. | |
| Absolutely going to be that. | |
| It's going to be a PPPDC digital currency. | |
| And so, going back to Matagoras, he says, entities like the World Economic Forum, the Atlantic Council, have embraced stablecoins. | |
| And again, that's Lutnik, king of the stablecoins. | |
| If you think banning a CBDC was enough to stop the financial surveillance grid from forming, think again. | |
| The powers that be are simply rebranding their takeover of digital finance, and the only real defense is decentralized private money. | |
| 100% agree. | |
| And I've been saying that for a long time as well. | |
| But then he goes into a different direction than I would agree with. | |
| He said that's why privacy coins like Xano are more important than ever. | |
| I've never heard of it. | |
| Doesn't mean that it's not good. | |
| I'm just not interested in these digital games. | |
| How about gold? | |
| He doesn't even mention gold, which I think is kind of funny. | |
| So, yeah, you want privacy? | |
| You want private money? | |
| You want decentralized money? | |
| How about gold? | |
| See, the founders understood that. | |
| The founders understood the difference between some kind of a printed paper system, money being issued by the government. | |
| The government is not supposed to issue money. | |
| Money is supposed to be outside of the government. | |
| The government had the power to coin. | |
| Some of that money, but they're not setting the value of it in the Constitution. | |
| That's not what it was for. | |
| So he lists some points about Zano. | |
| It says it's the answer to financial tyranny. | |
| Well, let's take a look at the things here. | |
| It says, number one, privacy first. | |
| No more public ledgers. | |
| Okay, well, that's fine. | |
| Okay, it's a private coin. | |
| And, you know, I don't know, maybe Zano is like... | |
| Monero, maybe it's a spinoff of that. | |
| PirateCoin is another one that's a spinoff of that. | |
| I've interviewed the guys at the PirateCoin thing a couple of times. | |
| But privacy first, no more public ledgers. | |
| Well, gold checks that. | |
| I mean, you've got to, at some point in time, get into gold, and at some point in time, you've got to get from a public bank account or something into Xano, but after that, it's private. | |
| But gold checks that as well. | |
| Decentralized tokenization with privacy. | |
| Well, I think gold fits that as well. | |
| It's not tokenized. | |
| I'm not a big fan of tokenization at all. | |
| And so, you know, gold, however, is decentralized and private. | |
| Unfortunately, it's not tokenized. | |
| And then you have number three. | |
| He says, hybrid proof of work and proof of stake. | |
| It's impossible to attack it, he says. | |
| So, I think it's interesting that when you talk about proof of stake versus proof of work, or again, that's what, you know, the attack on Bitcoin. | |
| And Biden's war plan was going to attack it because you had to do work. | |
| And if you do work, if you have computers that are out there doing processing transactions and mining, that's going to use energy and that's going to burn the environment down, right? | |
| Because they don't have any problem, and I said it at the time, they don't have any problem when the CIA does it, when they have these massive data centers out in the middle of the desert using up all the water, enough water for a city in the middle of the desert in Utah. | |
| What's going on with that? | |
| And the amount of power, enough power for a city. | |
| And those things have been around for a long time. | |
| But they never would focus on that. | |
| That was a hypocrisy. | |
| And then it became a real glaring hypocrisy with the AI data centers. | |
| So that's proof of work. | |
| So what they proposed with CBDC was we're going to do proof of stake. | |
| I'm a stakeholder. | |
| So it's worth whatever I say it's worth. | |
| You know, you're back to fiat and declarations, right? | |
| Interesting that the abbreviation for proof of stake is POS, which happens to be a pejorative term for people who put this kind of stuff together. | |
| Politicians are POS. Lutnik and Besnik and Trump, all POS. So the same people who are fighting to outlaw privacy coins are the same ones going after people like Roger Ver, he says, and I agree. | |
| A man whose crime was to dare to promote financial freedom. | |
| But again, there's going to be financial freedom as long as it's digital. | |
| I think it has to be analog. | |
| If you want real financial... | |
| Hello, it's me, Volodymyr Zelensky. | |
| I'm so tired of wearing these same t-shirts everywhere for years. | |
| You'd think with all the billions I've skimmed off America, I could dress better. | |
| And I could, if only David Knight would send me one of his beautiful grey MacGuffin hoodies or a new black t-shirt with the MacGuffin logo in blue. | |
| But he told me to get lost. | |
| Maybe one of you American suckers can buy me some at thedavidknightshow.com. | |
| And David is giving a 10% discount to listeners from now until 2025. At that price, you should be able to buy me several hundred. | |
| Those amazing sand-colored microphone hoodies are so beautiful. | |
| I'd wear something other than green military cosplay to my various galas and social events. |
Export Selection