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Sept. 5, 2023 - Health Ranger - Mike Adams

01:29:00

Episode 12 - Sep 5, 2023 - ACE OF COINS - John Jay Singleton reveals cryptocurrency TAXATION secrets

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	Music Music Music Music Music Music Music Music Music Music Welcome to Decentralized TV on Brighteon.com.
	I'm Mike Adams, the founder of Brighteon, the free speech video platform.
	And today is another amazing episode of Decentralized TV. You're really going to enjoy our special guest we have today.
	But to introduce him is our co-host, whom I shall interview first or introduce first, Todd Pitner.
	Welcome to the show.
	It's great to have you on.
	Thank you, thank you.
	It feels like it's been a while since we've been interviewing because we were doing like three in a row and then it's been a little bit of a reprieve.
	But I'm glad it's today and we got a few interviews and John J. Singleton is the one I've been looking forward to.
	Wow, where do I begin with him?
	First of all, people should go to aceofcoins.com.
	Especially if you are into crypto and you're wondering what is your tax liability, it would serve you well to bone up on the real answer, which John will share today.
	But John and I go way back because when 2020 happened and the boogie virus took over the world, I could not wear a mask.
	It's a physical thing.
	And so I ultimately had to go to court.
	And I had a three-count lawsuit against Costco.
	And John, and he'll explain this, while he is not an attorney, he steps up for people who represent themselves.
	And he helps them.
	He guides them.
	And I'm going to ask John to opine just on that case because ultimately he was thrown out at the appellate level.
	And I want to know, did I lose John or not?
	Because you told me I didn't.
	John Jay Singleton.
	Let's get him on the show here.
	And, yeah, I'm sorry about the mask situation, but, you know, we've got to have John share his crypto knowledge here to start with.
	Okay.
	So welcome.
	Welcome to the show.
	Thank you.
	I appreciate being here.
	So you want to start with the cryptos.
	Yeah.
	Tell us about yourself.
	First of all, do you go by John or Jay or John Jay?
	What do you prefer?
	I go by John.
	Some people call me John Jay.
	It depends on their style, what they want to do.
	Okay.
	Most people, I think, forget my last name, so I don't really care.
	Okay.
	I started signing my name lately on email saying John Jay.
	Perfect.
	What difference does it make?
	Yeah.
	All right.
	Well, tell us about...
	Your website is aceofcoins.com.
	Todd knows you.
	This is the first time you and I are getting to meet each other.
	So for my benefit and the audience, give us an introduction, if you would, please.
	So in the 90s, I looked at the...
	I reverse engineered the credit system because I had a lot of debt because I was stupid in college and I thought credit cards were free money.
	I wasn't paying attention.
	And so I ended up with a lot of debt that I couldn't pay.
	And so I... Instead of...
	Talking to an attorney, I decided I would go investigate what is going to happen if I don't pay.
	When I investigated, I found out that the whole thing is a big scam and that there's no money being lent.
	In part of my investigation, I went to the court and I sat there all day and I took notes like a student.
	I was a college student, but I sat there in my days that I could go and I just took notes.
	I watched Citibank, one attorney for Citibank, I remember this one day, He went through 50 cases and nobody showed up except maybe two people in two different cases and they begged for mercy.
	The other 48, they just got default judgments and I thought, what's a default judgment?
	I don't know anything about it.
	So when I looked it over and I listened to the attorney talking and I'm not a good public speaker and I never was back then.
	I didn't know anything about the law.
	I didn't even know there was a thing called rules of court.
	So I'm listening to the attorney.
	I'm looking at him eye to eye.
	He doesn't know I'm watching him.
	And I concluded he was a complete moron.
	That I could beat him.
	And I didn't know a thing about the law.
	And so I took it upon myself to go learn.
	And I sat in the law library.
	I pulled the books out.
	I asked the librarian for help.
	And I went and I looked to see what they were doing to get a court to agree to give them a judgment.
	And what that meant.
	It meant they had permission to use the police power to take people's stuff because they didn't pay their bill.
	Yeah.
	And so I'm learning all this, right?
	And so...
	And then I start getting angry, and I start talking to these debt collectors.
	I actually go to their office.
	I'm a weird person.
	One time I wanted to investigate a traffic light pattern, so I went to talk.
	This guy was so nice to me.
	He worked for the DOT, and he let me sit in his office, and he told me the technology and how the traffic lights work.
	So I do stuff like that.
	So I'm sitting in the CEO's office with this debt collector, and this guy's laughing at everybody.
	I'm asking him questions about people like myself, stupid consumers, okay?
	And he's laughing at me.
	And laughing at everybody else because he's making a lot of money on stupid people.
	He told me if people understood that they didn't have to even talk to me, I'd be out of business.
	I almost punched him.
	I left.
	And I said, here's what I'm going to do.
	I'm going to write a little paper.
	I thought I could just write a little paper.
	and say hey guys here take this now go for it man you can get out of debt and all this it didn't work that way because all it did was create more people that wanted my help you know they're like hey uh because i'm not like an attorney the attorney's saying pay pay pay settle settle settle you know i'm gonna tell you something real quick so what i the bottom line is i concluded that if if you have credit card debt a lot of it and the more the better if you just don't pay and do nothing and let them garnish your check That's a heck
	of a settlement agreement.
	You will pay far less money, and by the time they garnish your check for a period of time, all the debts that you had will mostly be expired, uncollectible, if you did nothing.
	If you panic and go to a lawyer or file a bankruptcy, you're going to pay way, way more.
	That's just the summary of what I discussed.
	Okay, so I know a person who never pays a hospital bill at first.
	Sure.
	They wait.
	They get the second bill, the third bill, and then they start to negotiate.
	And this person is able to get medical bills paid off at like three cents.
	It's a very smart person because he's negotiating by not saying anything from the very beginning.
	That's a very clever way to negotiate.
	There's nothing new.
	It's just not many people understand that.
	It's just like not many people understand to not make the first offer.
	And they don't understand that the listing price, for example, for real estate is the first offer.
	When you make an offer to buy real estate, it's not an offer.
	It's a counteroffer.
	That's true.
	If you understood that, you would have the advantage and your real estate agent is clueless.
	All the real estate agent does is fill out forms.
	If you understand the very basics of how to get to yes and negotiate, yeah, that is a very good technique.
	Very sophisticated, actually.
	Well, I can already see why Todd invited you onto this show, and I think he's made a great choice because I love the way you think.
	And so let's segue into crypto.
	Todd, you got something else to...
	No, no.
	I love the aceofcoins.com where that was the first I woke up to the fact that, wow, you mean the IRS has been trying to scare us that we have to keep track of all of our trades and we owe capital gains on those?
	And that is the narrative out there.
	But John J. Singleton, tell us why that's wrong.
	I love this subject.
	Cryptos are awesome.
	Cryptos are the future, but if you guys don't understand the very basics, you'll get your butt kicked.
	Cryptos, thankfully, thanks to the IRS, are defined as property.
	The government does not accept cryptos for the payment of a tax.
	Therefore, they are not taxable.
	It's that simple.
	Cryptos are not taxable.
	The tax code was not amended to impose a tax on cryptographic currency.
	But hold on a second.
	Can I ask a discerning question?
	Cryptos themselves, the possession of them is not taxable, but what about taxable events selling them?
	Yeah, you can create a tax liability by disposing of an asset, property, for dollars.
	That will create a tax liability.
	But the cryptos are not taxable.
	The dollars are.
	It's very important to understand this difference.
	What do you mean cryptos are not taxable?
	Acquiring them?
	If the currency was taxable, you could pay the tax in the currency.
	Are you saying gains on crypto are not taxable?
	Gains on crypto, let's talk about what that is.
	Yeah, yeah.
	Let's talk about what it's not, first of all.
	Okay.
	If I buy Bitcoin, and the price is doing this, and I'm some kind of forecasting genius, and I buy Bitcoin, and then I buy Litecoin, and then the value changes, and now I buy it back, or whatever I do.
	You guys have done this before.
	And now you started with $1,000, and now it's worth $2,000.
	Mm-hmm.
	And I still have Litecoin and Bitcoin or whatever.
	I don't have it gained.
	I don't have a taxable gain.
	You haven't realized the gain?
	I have not realized the gain.
	Just because my property value went up doesn't mean I owe a tax.
	Now, here's what happens.
	You don't have a tax liability, but when you go to your accountant, and I'm going to insult these people.
	It's okay.
	Every stupid accountant, you guys know better.
	You're lying to your customer because you're afraid of the IRS, and you tell them to report the difference from your cost basis to what you're claiming your client's gain is.
	Really?
	Accountants tell you that?
	Here's what they're doing.
	They're leading their client down to create a tax liability that they never had one.
	Go to the accountant, and the accountant tells you to do a thing, okay?
	Now, I'll explain what this is.
	There's two types of general accounting practices.
	One is that I'm not an accountant.
	I just understand financial risk.
	If I report a gain, if I report the value change as a gain, I'm using what's called accrual-based accounting.
	This is what big corporations use.
	I'm not a big corporation.
	I just got a job and I got a house and stuff.
	I've got...
	I don't need to use accrual-based accounting because that is what C-Corps should use.
	They're mid-level, $300 million gross income type companies.
	Those guys need to use that because they have outrageous tax deductions.
	They're amazing for them.
	It's very helpful to them.
	It's great for the economy, not for us.
	Accrual-based accounting does not work for me and you and small business, even the dentist's office, the guy that makes $5 million a year.
	It doesn't work for him.
	It should be cash basis accounting.
	That means I'm only taxed when I sell a thing, a dispose of property, and I receive dollars for it.
	Then I factor in my cost basis.
	Well, that makes perfect sense because if I buy a car, and let's say it's a collector's edition car, and it starts to go up in value.
	As a collector's car, right?
	It gets more valuable over time.
	Or let's say, you know, stamps, whatever.
	I buy stamps, right?
	Maybe that's a better example.
	I buy stamps, they start to go up in value.
	But I haven't sold them.
	There's no taxable event to just hold stamps.
	Same with gold.
	Same with gold.
	Exactly.
	Cryptos, gold, antique cars, stamps, and stuff.
	It's all the same.
	Nothing's changed.
	If you have a question on whether or not cryptos are taxable, ask yourself if you would treat gold the same way.
	Right.
	Or what about dollars?
	I had this question to Todd the other day.
	I said, well, Todd, my dollars are losing value every day.
	Does that mean I get a tax deduction because of the loss of purchasing?
	I'm going to tell you right now, these guys are sick.
	They have it in the case law, in the books.
	I found this in the 90s.
	Inflation is not deductible.
	Oh my gosh.
	Of course.
	It's literally in the book.
	That's the scam.
	Wow.
	Yeah.
	No, they got us covered, man.
	They got us figured out.
	We're smart.
	Like, wow, inflation, you know, let's write that off.
	Nope.
	They denied that in case law.
	Yep.
	Well, no, I had a friend of mine, his parents just sold their house after 40 years and they think they got this massive gain.
	And they got a million dollars out of their house.
	I'm like, how much value did the dollar lose in 40 years?
	And then the IRS says you gotta pay capital gains of 20% on your so-called gain.
	I'm like, you got ripped off!
	You were taken.
	You lost money.
	You really lost money.
	Your buying power went down and you actually lost the actual units of currency there.
	Exactly.
	So to your point then, everything you said makes perfect sense so far.
	Is the IRS demanding that people report unrealized gains in crypto?
	No, they're tricking you into doing it.
	They're tricking you, coercing you, persuading you.
	They want to confuse you and they want to issue all these things like, we have 87,000 more employees.
	What difference does that make?
	Did the tax code change?
	No.
	So you get a bunch of more minions?
	Did they tell you that over that 10-year period they're adding 87,000 new people?
	Didn't they tell you that there were 52,000 leaving?
	No.
	They're going to need 87,000 to open the mail from the last two years, by the way.
	Yeah, so they scare people into doing the wrong thing, to making decisions against their own interests.
	That's really what the whole system is.
	I want to tell you something real quick.
	So if you go back to when they brought in the tax code, they had to do it with the Federal Reserve.
	You cannot have the Federal Reserve without a tax code, by the way.
	Say again?
	Say again?
	You cannot have the Federal Reserve System without the tax system.
	Right.
	It would fail.
	Makes sense.
	Most people don't know that.
	So if I create money out of nothing, I have to be able to take it back out of circulation.
	So what am I really doing?
	I create money out of nothing.
	It's not created with value because I didn't have to dig into the earth and get some gold.
	I just printed it.
	I just said it's this much.
	So when I do that, somebody has to go into debt.
	The government goes into debt.
	Then people go into debt.
	And then when they pay the debt back and that ends up in the payment of taxes on the other side, the value that people put into the economy to get those units of currency, that value comes out of the economy.
	And it disappears.
	This is just another slave system.
	Yes, it is.
	100%.
	It's farming people.
	So anyways, they try to push in a – the United States government or whoever's money interests behind all this, the Druids.
	The Druid Babylonian bastards.
	Right.
	So these guys try to put in a mandatory tax system, imposing an income tax.
	And it kept getting stricken down.
	Now, part of the reason for the Civil War, without going into too much of it, was to bring in a centralized taxation system.
	Because back then, you had banks doing their own thing.
	You had every bank, you know, had its own currency, which is really what it should be.
	We shouldn't have a uniform currency.
	But anyways, so they go through the Civil War, and they kind of whittled away at what we had.
	And then they were able to – here's what they did.
	If they trick people into thinking that it's required, then people will participate in a way that then will create the obligation for them to pay a tax.
	So the way the system works now is you don't have a tax obligation until you file a tax return.
	So you don't have an obligation to file a tax return until you file the return.
	Interesting.
	So if I create a company for somebody, I don't talk about 1040s because if people filed, that's kind of a different animal because if you have a history of filing 1040s, the government's going to harass you if you stop.
	So don't misquote me here and don't say, hey, I could just not file.
	Don't do that.
	Think this through.
	But if I want my client to have a different tax treatment, so let's say we get into cryptos, right?
	And I'm dealing with millions of dollars worth of cryptos.
	This is dramatic.
	That's why I say millions of dollars worth of cryptos.
	All right, so I want to manage those cryptos, the property rights, Through a company, not individually in my name, because when I dispose of the asset, I want the company to have the liability.
	Here's the difference.
	If I have the liability, I cannot change my 1040.
	I'm on the hook for whatever one type of income tax liability.
	I can't get out of it.
	I might have some deductions, so what?
	But if I have a different company, if I'm using a different person, a company, I can choose my tax treatment.
	So what I typically do is I set up a company That can have a tax treatment of completely deferred, perpetually.
	So I can dispose of assets, and I can make millions of dollars in profit per week if I want, and I can put these in a tax-deferred company.
	It's not an exemption.
	It's not a nonprofit.
	All I'm doing is holding the money in a holding company, and I can spend it, and I can buy stuff, and I can do whatever I want with it, but I am not realizing a gain.
	And I'm doing this all legally.
	This is interesting because in the 90s I started doing it that way to rescue companies from abusive tax collection situations.
	And they owed the tax on stuff.
	And I would reorganize the company with a new company that deferred all the taxes like a doctor's office.
	And then the IRS would get nothing.
	So, am I right then?
	From your website, aceofcoins.com, you ask, do you have a bulletproof bank account?
	So is one of the things you do is help people then set up the proper structure in which they can hold and trade crypto without realizing taxable gains?
	Exactly.
	That's exactly what I do.
	Crypto is just another property.
	I've been doing that for business income.
	I could do that with your stock market, your stock trading account.
	I've rescued companies that have all kinds...
	I could do that with a big multi-million dollar lawsuit.
	Here's the first risk I want my client to avoid, and it's the cost of litigation.
	It's not taxes.
	It's not being sued.
	I can care less about being sued, but if my client...
	If I make him bulletproof, and he has to hire an attorney to defend it, because my documents are so perfect, and my language is so perfect, and I have to hire a lawyer to defend him, I lost.
	Right.
	I already lost.
	Right.
	Because I'm going to pay.
	I'm telling you, it ain't cheap.
	It ain't cheap.
	You're going to pay over $100,000 with any meaningful lawsuit.
	So the way I structure a client with the first rule in mind is so that he can ignore a lawsuit with no detriment to himself or his business.
	He can ignore it.
	If you sued me, I would just wonder why.
	Why?
	Why are you doing that?
	And I would probably write up a press release and get some popularity out of it.
	Right.
	Please sue me.
	That's all I would do is make more money from it.
	That's awesome.
	But back to crypto then.
	in crypto.
	Some people that's their angle, right?
	It's not my angle by the way.
	I want to use it for e-commerce.
	You know, I want to get paid in crypto.
	That's what I want.
	But a lot of people want to speculate in it.
	So if they are able to buy and sell and trade and swap between different coins, if they're experts in that area, then they could, without having taxable events that entire time, seems like they could build up quite an astonishing portfolio much larger than they could in the traditional finance world.
	You can.
	I've seen people do it.
	I've seen people make over $100 million in cryptos just by knowing how to forecast.
	And you don't even need a fancy corporate structure.
	You could just do it in your own name if you understand these basic concepts.
	And just understand this, the software that's supposed to be tracking coins and trading and all that is completely wrong.
	It's completely wrong.
	Absolutely wrong.
	You and I did an interview on this, Uncle Odd, and I was explaining a very basic algebraic equation that can be used to calculate your taxes if you actually chose to sell the coins in your name, which could be voided.
	But let's say you did that.
	You can use basic algebra.
	You should not be using.
	So your whole collection of coins, and you can parcel out the part you're selling or not.
	It doesn't matter what coin you're in and what you traded back and forth during the time you own the coins.
	What matters It's the cash-in and the cash-out.
	That's it.
	It doesn't matter that it's gold.
	It doesn't matter that it's rice.
	It just matters that I put some cash over here, own some property, and I disposed of it, and the IRS would agree.
	Okay, you got some gain.
	The IRS would tell you how to do this, by the way, but their software is wrong.
	Well, of course.
	Of course it is.
	Don't ever use it.
	Don't ever use Coinbase.
	What I tell people is use Coinbase for what it's for.
	You put some cash in your bank account and you go into Coinbase and you buy a coin.
	So let's say you want to buy a series of coins and you're going to use Coinbase.
	If Coinbase is even still usable, I think they ruin the whole platform.
	But in any case, so you take $100,000, you go into Coinbase, assuming you can even do this in a week, and you buy Bitcoin.
	But you don't want Bitcoin.
	You want six other coins.
	But you buy all Bitcoin.
	And then...
	You transfer the Bitcoin in your wallet on Coinbase to your BitFi or whatever hardware device, right?
	Off of the platform of Coinbase.
	Then you allocate So there's no record of your allocation.
	I mean, that's another way to do it.
	Not that it matters that they see what you're doing, but why not allocate on some platform that they can't track it and no one's scaring you with 1099s and all that.
	And by the way, the 1099s that these exchanges issue, I eat those for breakfast.
	So you get a 1099.
	So my client calls me.
	I get a 1099 from Coinbase.
	And so I ask them.
	I qualify to make sure that I'm not going to go down this road of I made a mistake.
	Invariably, no, I didn't sell any coins for any dollars at all at any time.
	And I verify this in like three or four different ways, okay?
	Because I know people want to tell me the truth, but sometimes they don't understand.
	But once I verify that my client did not dispose of a crypto coin for dollars, and Coinbase has the nerve to send him an erroneous 1099 that says the value he owes is based on the value change and however the magical thing they did, Harry Potter incantation, to figure out the 1099 tax.
	I write a letter to the IRS. Now, the IRS actually has a very sophisticated office.
	You can ask for a legal determination on something.
	So I write a letter to the IRS. It takes six pages because I have to use the IRS's form.
	The IRS tells you how to write a letter to it.
	People don't know this.
	So I write a letter to the IRS and I make a couple of factual statements and the IRS always agrees and says, yeah, you're correct.
	1099 is erroneous.
	Exclude it from your 1040, more or less.
	That's what I do for the client.
	Exclude it from your 1040.
	And have the track record, the paper trail from the IRS. Yeah, it's helpful.
	I've never had a problem either way, but still, it's kind of nice.
	It looks cool.
	People are like, whoa...
	I'm acquiring coins on Kraken right now, for example, but I never intend to sell coins for fiat.
	In fact, this is part of my next question, is once I get from fiat into crypto, I'm going to keep it in crypto and then probably spend it from there at some point.
	I never want to go back to dollars.
	You're almost to that point.
	Okay, so my richest clients tell me this.
	These are the smartest people.
	They got rich because they understand when you acquire an asset, you never sell it.
	Now, coins are not necessarily an asset.
	It's just property.
	What you want to do is when the value is a certain point, you want to borrow against it.
	So you just said you want to sell it.
	What I'm going to suggest that you do is borrow against it.
	Use it as collateral if you have to, but then use the loan money to buy assets.
	So now you've got different collateral besides your asset.
	You got somebody who's willing to lend money that's suited to lend money for cryptos because there are lenders out there just for crypto.
	Right.
	You deposit the crypto and then you get the loan.
	However they want.
	Exactly.
	In other forms.
	You secure it.
	Right.
	So this is the wisest way to use some property that has value like gold.
	I mean, you could put gold in a vault and secure it that way too.
	So crypto is no different.
	You just have a different market of people that are lending on that.
	So I would just suggest to you, Is borrow against the asset and never sell your cryptos.
	Okay, right.
	Fair enough.
	But some people definitely want to use crypto as a form of money to spend.
	And in fact, we're an online platform, my company, e-commerce company.
	We want to accept crypto as a means of payment.
	And especially privacy-oriented crypto, right, Todd?
	Yeah.
	We sell preparedness food supplies, and a lot of people want to make those purchases privately for obvious reasons.
	They don't want anybody knowing what they have.
	So we want to accept crypto, but what are the tax implications for the person spending the crypto in our store?
	None.
	None whatsoever.
	Now, he's disposing of the property in exchange for something that's valued in dollars.
	But again, it's just like...
	Ah!
	It's stuff.
	It's stuff.
	So you're just changing some stuff for other stuff.
	And you can't pay your taxes, Mike, with food, with food stuff.
	Well, but our food is priced in dollars.
	But what if we offered food products literally priced in the coins?
	That's what I would do, but either way, there's no tax consequence.
	Now, there's probably letter rulings on this, but I can tell you this, though.
	I'm going to say two contradictory things.
	If your client is going to pay in cryptos for something that's valued in dollars, there is not a tax consequence.
	If he wants to report it as disposing of an asset for something valued in dollars, okay, that's up to him.
	He will have to create that tax liability.
	If you do that for real estate, because it's such a big ticket item, it shouldn't be this way, but it's going to be different than the supplies that you're selling.
	You're just not going to be able to tell the IRS that We priced the contract in cryptos.
	Now, I don't see a case yet on this.
	Someone should have the balls to go do that.
	Maybe you.
	Give me a case.
	The question is, if we buy and sell, if we're trading in gold, for example, yeah, there's not going to be a tax consequence.
	Even if it's real estate, you can make the argument.
	It's just that the system will value it in dollars and say, well, It was valued in dollars, and so it's like barter.
	Okay, so if you guys want to look up your IRS circular regarding barter, you're going to see what I'm talking about there.
	So again, I still think it comes down to how you report it, though.
	That's what's actually creating the liability.
	So the circular that has to do with barter is going to induce you to want to report it, and so therefore you've got your tax liability.
	If you don't report it that way… Yeah.
	If you don't, I think you're going to be fine.
	Alright, so let me see if I can summarize where we are right now so far.
	So let's say I have after-tax money.
	I've already paid taxes.
	It's after-tax money, and I'm just saying this for disclosure in case the IRS is listening.
	This after-tax money, I'm buying coins.
	I'm buying a privacy coin like Monero, and then I take my Monero out to a farmer's market, let's say, and I buy 100 pounds of brisket or something with my Monero after the Monero went up in value.
	What you're saying is that none of that matters.
	It's not a taxable event.
	All I've done is I've traded virtual coins for beef.
	Yes.
	And I'm going to give you two scenarios.
	So let's say your crypto transaction to acquire this food, beef, was done in a coin that can easily be tracked and traced to you on the blockchain through Bitcoin, let's just say.
	Right.
	So it's completely visible.
	Let's say you wrote a letter to the IRS saying, here's what I did.
	Yeah.
	All right.
	So then you did the same transaction with Monero secretly.
	No one could track it to you.
	Some beef showed up in your freezer.
	Both are the same.
	They're not taxable.
	And so it comes down to the scenario where this is where we're lost.
	We're lost right now.
	We have a private property right that has to do with privacy.
	And we have every right to do things in secret.
	And it goes back – my dad was not very educated.
	He was not a smart person when it came to like getting rich and money and stuff like that.
	But he would always say to me, if they can't see it, they can't tax it.
	And he's expressing a private property right that people don't realize that they have.
	They think that if they're going to act like Jason Bourne, they think they're doing something wrong.
	And I'm saying, please do more of that.
	Please go out of your way.
	Please use things like loose diamonds and gold and receipts and things to hide your money.
	I should be able to walk into a bank and say, look, I want a number to count.
	I don't want to give you my name.
	Yeah, should be.
	But nobody will do that in America anymore.
	And if you try to set up a banking facility that will do that, That centralized, they're going to shut you down eventually.
	They will.
	They're the druid bastards.
	So we want, of course, decentralized.
	And so we want decentralized.
	Why?
	Because we want to exercise a right to privacy.
	It's a property right.
	We have to take it.
	Because if we just go along with the systems and stand in line and fill out forms all the time, we're never going to have it.
	We just gave up our property rights.
	Right.
	I find so much about the IRS is people voluntarily creating liability for themselves.
	That's all they do.
	Let me tell you something real interesting.
	This is going to shock people.
	So I had a case in California four years ago.
	It was an audit.
	This rich couple, they sold a company, had $200 million, a bunch of money, and they did something silly with the money.
	I had to reverse engineer their mess they created, and I got them out of that situation.
	But I was already in the middle of an audit, and so the IRS had sent all these questions.
	And I had written the answers because I had all the time in the world to sit there and read all their questions.
	So it was an audit.
	And they didn't like the answers, of course.
	And I answered correctly.
	I mean, sometimes I kind of didn't.
	But for the most part, I answered.
	I answered on anything that I knew that they could discover for themselves.
	I just said, okay, here.
	You got me.
	Well, they called my clients in for an audit in person.
	So I prepped them again, and I said, look, they're going to ask you the same questions on the list because they're a bunch of minions.
	They can't think.
	They're just going to ask you the same damn questions.
	So just refer to those questions, and they did it themselves.
	Sometimes I go there and I represent people.
	This time I didn't have to do that.
	But I did.
	I did have a court reporting service take the transcript.
	What?
	What?
	People are going, what?
	What does that mean?
	You know how in the court, you know, on L.A. law, whatever, All these TV shows, Law& Order.
	You got that person that's typing away.
	That's your court reporter, right?
	And it's very important.
	Every word is correct.
	This is the official transcript of what took place.
	Who said what to whom, right?
	So we did this at an audit.
	We're not in court.
	Because I knew what the IRS was going to do.
	They were going to go through the audit process.
	We're going to beat them over the head again, but they're not going to get anything from my client.
	I already made them uncollectible.
	It doesn't even matter anyways.
	I mean, they can't take anything.
	The IRS wanted like $600,000 from these guys.
	So I told my clients, they're probably going to go to the Department of Justice and sue you for an order compelling you to answer the questions differently than you already have.
	And instead of arguing with them, Let's just take the transcript of the audit, and when they go to the DOJ and lie, in fact, those idiots went to the DOJ and didn't tell them, we took a transcript.
	So the DOJ went to the court and said, these people relied upon the Constitution and used the Fifth Amendment and didn't answer the questions, and they didn't comply with the summons.
	So we filed a motion to dismiss and we showed the judge the transcript and that they lied.
	Because I told the clients, don't ever use the Fifth Amendment because the Constitution has nothing to do with the IRS, guys.
	Okay.
	I'm going to tell you this right now.
	So this is funny.
	So I filed a motion to dismiss and we said in there, please see attached transcript, like 100 pages or something.
	At no point did the defendants rely upon the Fifth Amendment nor make any such expression.
	And in every case, they answer to the best of their ability.
	Look at all their answers.
	And furthermore, the DOJ should know, along with the court, which probably already understands, that the U.S. Constitution has nothing to do with an IRS audit, so why is the DOJ referencing it?
	We didn't.
	Okay, so what the heck happened to that case?
	Within a month, the Department of Justice dismissed it voluntarily.
	Wow.
	So we beat the United States.
	Now, these bastards tried it again.
	Same set of facts, except this time they framed it as a financial crimes network failure to complete certain disclosure forms timely.
	So we did the same thing, except this took a little bit longer.
	So we did the motion to dismiss.
	It got denied.
	We filed the answer.
	We went into discovery.
	So in the complaint, they alleged that there's a tax liability.
	This is where we get into this tax thing, okay?
	So the IRS said, we assess the tax and there's this much money owed.
	So we just said something very simple.
	We would like to depose your tax.
	Assessment officer.
	And we want to see the tax assessment.
	The certificate.
	They dismissed the case.
	Because they couldn't use that, huh?
	The United States lost.
	Now my clients don't owe anything.
	Because they put their head on the chopping block this time.
	The first time they just asked for an injunction.
	This time they were asking for money.
	And they lost.
	Because they lied.
	Again.
	That just tells you the system.
	Yeah, the system's rooted in, well, threats and lies.
	I also know this about the census.
	Someone I know had a farm, and they received a census letter that says, you have to fill out all your farm revenues and all this and all that, and all these strong penalties.
	Like, if you don't, you might face jail time.
	And this person I knew was all freaked out.
	I'm like, I would just throw that thing away.
	Yeah, I had one the other day.
	I just said, throw it away.
	Yeah.
	But no, they weren't serious.
	They actually filled it out.
	No, because they're afraid.
	They don't know.
	And an attorney will tell me to fill it out.
	I had an assessor's office for a local business because this lady got a fictitious name.
	And so the assessor's on her for like 10 years, making up all these numbers.
	Now you owe us this much money.
	And so finally she's asking me for help.
	And I said to her, did you ever file a tax return with the assessor's office?
	No, never, never, never.
	So basically, so the assessor is saying you have to list all your personal property that you're using for the business.
	So here's the thing.
	This is what people don't understand.
	When the tax assessor is asking you to tell on yourself about the thing that's going to be taxed because it doesn't know what you have, that's the definition of privacy, and that precludes the government from any compelling interest.
	Taxation requires a compelling interest.
	If the government doesn't have a compelling interest, it has to shut up.
	It cannot do anything.
	So the fact that you don't know what I have over here means that you shut up.
	You don't get to send me a letter and make up a number and say I owe you anything because you don't know what I have.
	Thus, privacy coins.
	Well, there you go.
	I mean, that's why I love cryptos because it gives us our privacy rights.
	But if you don't understand it and you're going to be like, you know, I'm going to call it stupid consumer.
	You deserve what you get.
	Hey, John, what do you do when you get your package from your tax accountant and the first page is, did you buy or sell crypto this year?
	Okay, well, that person is fired.
	They're already fired because that is not...
	Okay, this is what you guys got to understand.
	So if you file a 1040, you're doing so under penalty of perjury, okay?
	Okay.
	There's a five-year prison sentence if you're lying.
	Even if you're not lying, if they can prove that you're lying by mistake you made, that's five-year max prison sentence.
	If your accountant is asking you to disclose this type of information, he's doing that so, one, he can be a witness against you, you can be a witness against yourself, and you create a second duty to, again, disclose financial information under penalty of perjury.
	If you think you're required to file a 1040, why would you do two of them?
	Why would you make two statements under penalty perjury when you already just made one?
	So he's fired.
	Is the IRS asking for this from everybody at this point?
	The IRS has got the accountants to go along with this.
	This is why I have an accounting firm.
	I set up an accounting firm, and these guys won't do that.
	They're not going to ask you for any of that stuff.
	They already know.
	It has nothing to do with your taxes.
	If you have a tax situation that involves cryptos, you'll tell them.
	Otherwise, they're not asking you for that.
	Right.
	And my accountants, they'll never testify against you that their work can never be subpoenaed, can never be summoned.
	Okay, where do we find your accountants then?
	So you have Ace of Coins?
	Yeah, Ace of Coins, and so the service I set up is called crypticaccounting.com.
	Oh, wow.
	Yeah, crypticaccounting.com.
	I'm not just trying to promote it.
	I'm just saying, as a matter of course, I got fed up with this stuff, and I just said, you know what?
	I'm just going to set up a firm, and I'm going to get the right people.
	And I'm going to make it to where we use technology so that if the IRS wanted to ever audit my client, they have to deal with me.
	They can never go to a third party and get records that were disclosed in the process of making the tax return.
	So you're left with the four corners of the 1040, okay?
	This is what I do for my high net worth client.
	I file returns.
	Let's say some people are late.
	I file returns late, and there's a certain thing I do because the IRS is going to audit my client.
	I already know this, if they're a couple of years late.
	We catch up the returns, and the person gets audited.
	The moment the audit starts, I have my client say one thing, and then it's over.
	The audit's over.
	What we tell the IRS is, and you have to prep this.
	You can't just go in there and blabber this.
	You prep it first, and you explain.
	What you see is what you get.
	The rest is subject to the attorney-client privilege.
	That is binding on the IRS. Forget Fifth Amendment.
	That's not going to help you.
	But attorney-client privilege, they respect that.
	And that's all you have to say.
	And you don't get to know who my attorney is either.
	I'm not going to tell you and I'm not required to.
	So look at my 1040.
	That's all you see.
	Now, you only do that in situations where you don't really need deductions of some kind.
	And I'll do that for people that owe a lot of money.
	I just do standard deductions because they're going to owe even more money.
	And the reason why I do that is because the IRS will actually leave them alone.
	It's the opposite of what people think.
	If you owe less money than you could owe, they'll bother you.
	If you owe a lot of money, they're going to conclude that you're uncollectible in many cases.
	They'll leave you alone.
	It's the opposite.
	That's what I'm saying.
	You hear all these ads on TV. Will, you have more than $10,000 in debt with the IRS? All these guys are doing is filling out a form you can get for free on the internet.
	And they end up charging like $4,500.
	It's disgusting.
	Wow.
	So, John, I have a question.
	When trading from coin to coin and you're not going into cash, when you go into cash, that creates a taxable event.
	But...
	A crypto dollar, right?
	Or USDT or...
	Yeah, a stable coin.
	Stable coin.
	Those are coins.
	Those are still crypto.
	So those don't count as going to cash, right?
	Correct.
	It's just like any other coin.
	Correct.
	Okay.
	Okay.
	I just wanted to clarify that.
	Yeah, good question.
	Yeah.
	Yeah, but it's funny.
	I'm glad you brought that up, Todd, because I often wonder why would anybody want a crypto that's actually tied to a failing currency such as the dollar?
	Yeah.
	I would temporarily.
	Yeah, yeah.
	I get it.
	But long-term, we don't want to hold that stuff.
	No, you're going down with the ship.
	Right.
	The only time cryptos will be taxable is what they did if the government does what it did in El Salvador and some other countries, I think, lately.
	El Salvador declared that Bitcoin is legal tender.
	Oh.
	As soon as that happens, it becomes indistinguishable from the currency that is taxable.
	So in El Salvador, Bitcoin is taxable.
	I'm not going to argue with them.
	If they did that here, I'm not going to argue with them.
	Wow.
	So that, yeah.
	Okay.
	Interesting.
	Wow.
	They are clever.
	Yeah.
	So you mentioned, Mike, about using the cryptos for business.
	And yes, we should be doing that.
	So some of your clients want to use Monero or something.
	You can use Bitcoin and still have a level of privacy, a pretty good level one.
	If you and your shopping cart were to, let's call it wash the coins.
	The way you do that is, You pull all the coins together from all your customer, and then they come out the other side in different amounts so that you can't track what happened there.
	Sure.
	So nobody knows who got what.
	Yeah, like CoinJoin type algorithms.
	CoinJoin, yeah.
	You could do that yourself with a little bit of coding.
	Yeah, no worries.
	I just didn't want my customers to expose themselves or for there to be any links among our group of customers.
	If they all use a common wallet that they're sending to, that might be discoverable.
	And keep in mind, Mike, we interviewed someone.
	We haven't released it yet as of today, but we interviewed someone who was very focused on retail.
	And a big part of why they didn't succeed like crazy is because the folks taking the money were concerned that there was going to be these taxable events, and they were going to put their Clients, you know, in a bad place.
	And so, because the banks basically, you know, have scared them.
	Everything is based on fear, isn't it, John J. Singleton?
	Yeah, they act on the presumption that you are involved or will be involved in money laundering.
	That's what the banking system is doing.
	So what they're doing is they're getting around the Fourth Amendment by collecting all this information about you now so that if anybody wants to start an investigation, you've already got your information.
	So you didn't have the right to make a defense because when they got the information, there was no criminal charge against you.
	And now that there is a criminal charge, they already have the evidence against you.
	So I don't know that someone's challenged this yet, but this is what they're doing right now in the banking system.
	This is why we really need to get away from it.
	We really do need to have a...
	We need a way to monetize corporations and business so that we can raise capital outside of the SEC and we can get funding.
	Outside of a regulatory banking system.
	And we should do that.
	Agreed.
	Along those lines, let me ask you this.
	Of course, the SEC is aggressively attacking several crypto platforms right now.
	They seem to be at war with crypto.
	But at the same time, we have BlackRock and others applying for ETFs with the SEC. And there's a lot of thinking that those are going to be approved at some point here.
	Of course.
	It tells you all you need to know.
	Which is?
	You're not in the game.
	You're a chump, and these other guys are not.
	And so you shut up and take it, and otherwise you have to do something about it.
	So do something about it means you take back your property rights.
	Don't participate in their system.
	Do something that they would consider illegal.
	I just gave a lecture on how the physicians can operate without a medical license.
	Legally.
	Legally!
	And have it upheld by the U.S. court system.
	But they just – the whole system, if you go talk – and I had to impugn the bar a little bit because – If you go to a lawyer to ask about this, the lawyer's going to say, oh, no, you have to have a state license.
	You know what's really funny?
	If a lawyer says that, what do lawyers do?
	Lawyers, you know, they talk about the law, right?
	They get in the court.
	They arbitrate the law.
	They also write the laws.
	Our legislatures pretty much are lawyers.
	Most people in government are lawyers.
	Correct me if I'm wrong.
	They write the laws.
	They decide the laws.
	They're judges.
	Judges are members of the bar.
	You're legislature members of the bar, right?
	Not a one of them has a license.
	What?
	There is no license to practice law anywhere in the 50 states.
	Nope.
	What is it then?
	It's a bar membership.
	It's a private membership club.
	And I'm going to tell you something else.
	It's a church.
	The court is a church.
	We don't have a court.
	We haven't had a court since World War II. It's a church.
	Here's why I know that.
	If I come in there – I'm not a bar member – if I come in there and appear for a client as his advocate, which we used to be able to do pre-1948 in Florida, the court's going to have me arrested and charge me with a felony for the unauthorized practice of law because I'm not a bar member.
	That is the definition of a church because I'm trespassing in so many words.
	I'm not allowed in there because it's not a court.
	A court is open to the public.
	And if it were a cord, I could go in there and do that.
	But this is why we know it is not.
	You ever wonder why you don't have a remedy?
	And we could talk about Todd's case, too, in that sense.
	But, I mean, yeah, cryptos are...
	This is the future, but it's like fire.
	You have to understand what you're dealing with here.
	This is a very important technology.
	Let me tell you something, too.
	Go ahead.
	I was going to say this is a very important interview because a lot of our audience are crypto-curious if they don't own crypto already.
	So this, to me, is very, very encouraging.
	Well, I'm just going to say, for cryptography, this was around in the days of the philosophers, Aristotle and these guys.
	They had encryption algorithms.
	And that was very important in World War II. World War I, too, but in World War II. So cryptography is on the U.S. munitions list next to bullets.
	You guys got to understand what you're dealing with.
	This is military technology, okay?
	Your cell phone is a weapon.
	Don't give it to your children.
	Your children should not have a cell phone.
	Stop this nonsense.
	Agreed.
	Okay, so understand cryptography is a military.
	It's a munition.
	It is by the act of the U.S. legislature, the Congress.
	Cryptography, that word, is placed on the munitions list for the U.S. military of ordinances.
	Okay.
	In 92, Clinton tried to take it off with an executive order.
	It's not the same thing.
	You have to have an act of Congress.
	But anyways, he purportedly took it off the munitions list.
	It's still there.
	You can't repeal a law with an executive order.
	But in any case, here we are with cryptography.
	We have a military weapon.
	So is it any wonder that you're hearing about national security and the banks want to talk about, are you a threat to national security or money laundering?
	Because you're using a military weapon.
	With your money.
	And if you're just using dollars and you're not using cryptos, the technology like in Zelle is cryptography.
	Wow.
	It gives the US military a compelling interest.
	Wow, that's amazing.
	But look, this came from us, so we have to take it back.
	Screw that.
	That's our technology.
	We have to take it back.
	John J. Singleton on Decentralized TV with Mike Adams and Todd Pitner.
	I have one question for you.
	And Mike, you and I were talking about this a couple of days.
	One way that we can all fight CVDCs, play our little bitty role, is if you think about it, we are all using, not all of us, but we are mostly going for the convenience of paying with our phone, paying with a chip, you know, just easy, easy, easy, right?
	All credit cards, etc., debit cards.
	So, why would these retailers, after a while, even want to acknowledge cash?
	It's more of a pain in the ass.
	Today, I was in Publix, and the lady in front of me gave a $100 bill, and it was like...
	It took like 10 minutes to get her cash, right?
	So I think that if we all make a concerted effort to use cash everywhere we go and make it our mission to not use their system, right?
	Force them to at least deal with the cash.
	If enough of us did that, then I don't think it'd be so easy for the retailers to say, yeah, we can afford to give that up because only 2% of our Our customers are ever paying in cash.
	What do you think, John J. Singleton?
	I like your thinking, but you're about 25 years late.
	Okay!
	So my recommendation is, okay guys, let's use the technology to our benefit.
	Let's understand it and use it properly.
	Because we are going to have to use it.
	You will not be able to use cash pretty soon without getting arrested.
	No joke.
	Okay.
	Well, I might be arrested as a seed smuggler, too.
	I never know.
	Seeds, like broccoli.
	Maybe you're using too much carbon, you're breathing too fast.
	Yeah, who knows?
	There might be multiple charges against me at that time.
	Speaking of, did you guys know that it's actually illegal to laugh loudly in Hawaii now?
	It is.
	I should move there and laugh my ass off every day.
	No, no.
	You have to keep it to aloha.
	Sorry.
	Come on, man.
	I thought you were going to say mahalo.
	Or something like that.
	That's hilarious.
	Okay.
	Good one.
	All right.
	But John Jay, since the time is relatively short here, I can't believe we're coming up on the hour.
	But last question for you here.
	A lot of people...
	I guess the question is, what are the first mistakes to avoid?
	Because a lot of people listening to our show, they realize the traditional finance system is crumbling.
	And they're trying to get out.
	They're looking for the off-ramps or the exit doors.
	And they're looking at things like gold and silver and crypto and real estate.
	But when it comes to crypto, there's some trepidation among some people because they don't know enough to know what the pitfalls are.
	So what would you say are the main early pitfalls to avoid?
	Well, just use it how you understand it.
	You don't need a complex understanding.
	And I would suggest that you not speculate on cryptos if you're not suited for that.
	So use cryptos as a tool, just like gold and silver.
	I prefer gold and silver, but I also use cryptos as a way to move my gold and silver and liquidate it.
	So sometimes I buy the gold and silver with cryptos, so that's what I look for, but I use them as a tool.
	And the precious metals and land, in some cases, these are not land so much, but Precious metals and cryptos, even loose diamonds.
	This is a medium before you get into assets.
	So to answer the question about mining the banking system, yeah, you have a systemic risk, possibly, in the banking system, but just cash itself is on fire.
	Even now, it's losing value faster, as you know.
	So it's the same old information.
	This is not something I came up with.
	You just put your money where there's assets, and gold is not really a performing asset.
	You need to buy things.
	Buy the restaurant in your town.
	Buy the grocery store.
	If you can't afford the grocery store or raise the capital, get with two people that can work with you.
	Seriously, almost everybody should be owning the assets in this town.
	That's where I would start.
	I just did a podcast recently where I was explaining how to create an e-bike dealership.
	In fact, I used the AI to write the business plan.
	It was amazing.
	This thing wrote the plan like that.
	And I went and verified it.
	It took me hours.
	I went through and I verified.
	That thing was dead on on every statistic that it gave me.
	So there's no excuse.
	I have a last question.
	So I'm going through the process right now.
	I think you've seen the, it was episode number four with Jim Gale, Food Forest Abundance.
	So last night his installers came over and we went through my property to map out everything.
	So, you know, we have gold, silver, crypto, food, diamonds.
	So I like the idea of decentralizing my food, right?
	Yep.
	But I live in an HOA. Now, it happens that our HOA seems to be kind of friendly, unlike a lot of others.
	But do you not have some counsel for people who would like to grow food in their backyards or maybe even front yards on how they can do that when they have a gnarly HOA that is going to find them?
	Yeah, you have statutes on the books now.
	You should look at that.
	I'm not saying we should always use the law against each other to argue with each other, but we should look at what the law provides.
	So there's some statutes that talk about implementation of solar-type products, like a clothesline in your backyard.
	As long as it's not a nuisance, you should be using it.
	HOA can't really tell you what to do.
	It's not the same everywhere.
	But at the same time, HOAs really are about your neighbors.
	So you want to try to work things out with your neighbors and come to some sort of resolution.
	And it makes total sense for people to grow In my neighborhood right here, I grow certain things in my yard, and my neighbors grow fruits and papayas and stuff, and we actually trade with each other.
	If you can foment that type of environment, this is really what we should be doing, not fighting each other about what the law says because we are the law.
	It's nice that a statute gives us a guide, but if you can go knock on your neighbor's door, And offer him a salad that you just made that he didn't make.
	That's what you want to really end up doing.
	Except there are Nazi neighbor, HOA heads out there.
	They want to wield power and make everybody's lives miserable because they have nothing to do.
	Indeed.
	You just got to be a human being.
	I mean, we're on this earth to learn how to work with people, and I've been the victim of some real dickheads.
	I mean, don't get me started on that one, and I'm not saying you can work through every situation, but do the best you can just by chance.
	I mean, I like to cut the grass, okay?
	So a few houses down, this old guy's lumbering and cutting his grass a couple of years ago.
	So I just finally went over there and said, hey, man, let me cut your grass.
	I like doing it.
	I'll just do it.
	So I started cutting his grass, and his wife came out, and now we're all friends and stuff.
	Turns out she was the president of the HOA, and she was the one that was sending out notices and causing all this.
	All neighbors were talking about all these notices for stupid stuff.
	You know how they are.
	I didn't know it was because of her, but she was a nice woman.
	And since that interaction, now we're like friends.
	We trade food.
	Gone.
	Nice.
	She doesn't have the heart to do it, and I never confronted her on it, and my wife was saying, you should do it!
	And I said, no, it's okay.
	She felt important.
	It's over.
	It's okay.
	I'll just pretend I never saw it.
	I thought you were going to say there was a horrible lawnmower accident of some kind.
	No!
	That's where John Jay lost all of his crypto, in the lawnmower accident.
	She felt so bad over it, and then she finally, because I cut her grass for about a couple of months, and then she felt so bad, because I'm out there sweating my butt off, and I love it!
	And then she hired somebody, because she felt bad, and I was like, okay, fine.
	Maybe he does a better job than me.
	I don't know.
	But anyways, that's what we have to do, is just work with our neighbors.
	I'm responsible, too.
	I don't talk to all my neighbors like I should, and really, I should But what helps is your children.
	I have small children and so they play with their children and we end up talking to them.
	So go with that.
	Have them over for drinks.
	Like tea.
	You don't need beer.
	Or the next time you grill, grill out front in your front yard on Saturday and make hot dogs and burgers enough for everybody that's walking by.
	You'd be surprised.
	It's really fun.
	During the fake pandemic, I had just to get people together, just to piss off people.
	Because some people think it's real.
	So because all the kids were playing together, that was perfect medium.
	What parent is going to say, no, you can't go to a birthday party?
	So what I did is I created a fake birthday party.
	I told everybody, hey guys, fake birthday party.
	We're going to this place where they have all the trampolines.
	I forget the name of it.
	So all the kids love that place.
	I got birthday cake.
	I got a table.
	I got the whole thing.
	I paid for it.
	Just...
	You know, I'm not trying to, you know, get favors for anybody.
	I just wanted to do it, right?
	That's cool.
	It was a blast.
	And it just made the whole neighborhood a different place.
	Because, you know, today, I'm just thinking about sending letters to everybody because, you know, that speed limit says, you know, drive safely, my children live here, or whatever.
	Think like your children live here.
	Well, I don't care if your children live there because they're in front of the computer all day.
	They're not playing soccer like I did in the 80s.
	They're not riding their bikes.
	So I'm going to drive through your neighborhood at 45 miles an hour, okay?
	Come on, wake up.
	Get your kids outside.
	Get them talking to each other.
	Talk to your neighbors.
	That's what we have to do.
	We should work together.
	Well, John Jay, we'd love to hear you think.
	Yeah, fascinating.
	And let me just give out your website one more time here before we wrap this up with you.
	Aceofcoins.com And you can work with John Jay on setting up accounts and learning how to handle risk management, it says here, consultations.
	Blockchain tax, immunity, trust, some pretty cool stuff.
	Very good.
	Thank you.
	Todd, you want to add anything else?
	Well, I just think, John, with that fake birthday party and you took him to this trampoline place during the fake pandemic, that, John, you just created a bunch of asymptomatic silent assassins, right?
	Exactly right.
	Fred and the boogie virus.
	Oh, my gosh.
	I confess.
	You should be at rest.
	I confess.
	No, you've been great, John.
	You have been a really, really good friend, and you are a man dedicated to freedom, and I know personally you do so much for so many without asking for anything in return.
	So I thank you for your service.
	You've helped a tremendous amount of people, and we'd love to have you on in the future again to dig deeper into all that you do.
	Appreciate that.
	And I got a glimpse of your platform, so it looks fantastic.
	I didn't realize you guys existed, so I'm so glad to see that we're of like mind.
	Whether we're crazy or not, we can at least say we're of like mind.
	And here on Mike's platforms, nobody censors us.
	I love it.
	That's what's cool.
	I love it.
	I'm so tired of having to think about what I say or edit.
	Right.
	See, I'm not into that either.
	I don't self-censor.
	We just say it like it is.
	And they build their own platforms.
	And so that's what this is.
	But this has been an amazing conversation, John Jay.
	You're definitely welcome to come back on.
	Especially, I want to talk to you again as the CBDCs get rolled out and the banks start to have bail-ins where they're just seizing everybody's money.
	And a bunch of people start sobbing and saying, well, I should have done something.
	Yeah, you should have watched this episode, actually.
	Please, I have something for the CBDC, something very special that you guys will love, I hope.
	I'd love to talk about that one.
	Okay, we'll have you on.
	We'll talk about that next time.
	Okay, look forward to it.
	Such a shocker that you're already thinking about.
	Alright, so stand by folks.
	John J. Singleton, he was our guest.
	He'll be leaving and then Todd and I will return with our discussion and reaction to this interview.
	So stay with us.
	We'll be right back with that straight ahead.
	Join the official discussion channel for this show on Telegram at t.me slash decentralized TV where you can ask questions or offer suggestions of who we should interview next.
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	Check it all out at decentralized.tv.
	All right, welcome back.
	Now, Todd Pitner and myself are going to have a discussion and a reaction to that interview with John J. Singleton of aceofcoins.com.
	And I guess I'll start off this time because this is the first time I had a chance to meet John J. And, yeah, I'm really impressed.
	I mean, I thought he was a great guest.
	Knowledgeable, fun, has a sense of humor, and also...
	He is one of these people that I call a spell breaker.
	He's able to break the spell, the sorcery of the system that's always trying to trap everybody in these illusions and falsities.
	But John Jay is just like, ah, screw them.
	Let's be our own thinkers about this.
	So I love that attitude.
	Todd, go ahead.
	He is.
	I remember I was invited over to his place in Orlando when my lawsuit first started up.
	And he went to the mailbox and he brought back all of this mail.
	And there were things from the IRS and different things.
	And he reached over to his daughter and he's like, honey, can you throw these where you know where to throw them?
	She went into the trash.
	So, I mean, he just lives it.
	I complimented you today, Mike, to where I was like, you know what?
	When people look in the Urban Dictionary and they look at tip of the spear, it should have your picture right next to it because you not only talk about decentralized solutions, you live them.
	And I put John Jay in that category, too.
	He doesn't just sit back and let the man give it to him, you know where.
	He's like, he draws a line in the sand and he says, no, you move.
	Yeah.
	Yeah.
	Well, and plus, from everything that he said today, it makes perfect sense.
	Now, I'm no expert in crypto taxation or crypto law.
	And so, I mean, take that as the disclaimer, folks.
	You know, even John Jay is not a practicing attorney.
	Right.
	And he's not, you know, he's not a tax accountant and so on.
	So all those disclaimers, do your own research.
	But...
	It makes perfect sense to me that if you're just swapping coins with coins, it's like trading wheat for corn, and the value of the wheat and the corn in dollars may go up or down, but that doesn't mean that I have taxable events.
	What am I supposed to do?
	Go out and count the oats in the field, and as they gain, because the oats get ready in the growing season, I'm supposed to be reporting hourly advances and gains to the IRS or something?
	That's insane.
	Right, right.
	No, you're right.
	It's like, could you imagine living in your house and every year getting a notice, an assessment that your property value went up $100,000, you owe, you know, 20%, 15% tax, whatever it would be on your property. whatever it would be on your property.
	That's the same thing that you're talking about with crypto, you know, per what the spell is that the Druid Babylonian bastards have cast.
	Yeah, exactly.
	So just ignore all of those things.
	Again, not tax advice, but I don't think it's practical that all of us who have our tax accountants that may have great relationships for years, that you just fire them because they ask the question, you know, have you bought or sold cryptocurrency?
	I just don't think it's a question that has to be answered.
	Well, good point.
	Again, a lot of this is self-incrimination, as John Jay was explaining.
	But as I know it, all the tax accountants I've ever worked with are pretty much agents of the IRS. I mean, they work for the IRS. Right.
	They've never helped me do anything.
	They're just like, no, you should pay all this and this and this and pay this extra thing, too, just in case.
	Yeah, yeah.
	It's insane, but...
	So anyway, you know, what you're getting here today, folks, is decentralized legal and tax accounting advice that isn't legal or tax accounting advice.
	We're just bringing you guests who are a little smarter than we are in these areas, and I encourage anybody to...
	Seriously, go to his website.
	If you have any big issues...
	reach out to him.
	I mean, I have personal experience working with him for the last three years.
	The guy is, he has a heart of gold and you don't have to live in fear when they come after you.
	Because that's what happens.
	Right.
	Right.
	We all just play turtle and go into our shell, and it's very scary.
	It's frightening.
	Yeah, it's frightening because they're threatening to take away your life, your freedom, your house, your assets.
	Right.
	And they can get the courts sometimes to convince them to let them do that.
	So, yeah, of course it's scary because it's like being robbed with a gun in your face.
	But what people don't realize is that is all a process.
	A very, very long process.
	And the government, they're not really good at their jobs in many, many ways.
	And when you have a guy like John who can be an advocate for you, again, I'm just telling people, put it this way.
	If I had any big issues with either the IRS or with a debt collector or anything, you better believe I'm going to aceofcoins.com and I'm going to book an hour with John.
	I mean, it's an hour, right?
	Yeah, just to learn and find out what are your options.
	And I guarantee you he'll be able to say, oh...
	Yeah, done this 40,000 times.
	This is what we do.
	And he walks the walk.
	Outstanding.
	Another tip of the spear club.
	So that's an action item for a lot of people watching.
	If you're looking for how to hold crypto, swap crypto, or sell crypto in exactly the right structure, the right corporate structure, the right kind of bank account, go to John J. Singleton's website, aceofcoins.com.
	Read up there.
	Learn about it.
	And maybe that'll be exactly the right solution of what you're looking for.
	Even if not, you need to get literate in this area and know what your options are.
	So it's worthwhile there.
	So again, aceofcoins.com.
	And also, just to be clear...
	John J. Singleton didn't pay us to be on the show.
	Our code of ethics are very clear.
	We do not accept any form of payment for anybody to be on the show.
	We invite guests that we believe can impart value to you, the viewer.
	And that's where this came from.
	I've got to thank you, Todd.
	He was a great guest.
	Well, you are welcome.
	You are welcome.
	I just knew he would add Similar energy that Jim Gill does, you know?
	Oh, yeah.
	Definitely not an introvert, right?
	No, no, it's great.
	Also, he's got, like, Tony Robbins' teeth.
	He's got, like, the full white smile of Tony Robbins' teeth.
	Yeah, he does.
	He's got Tony Robbins' teeth.
	And another guest that we have coming on, Scott Kesterson, he's got the voice of Tom Selleck.
	We were talking about that.
	He sounds just like Tom Selleck, so that's...
	Yeah.
	Interesting.
	Celebrity body part day.
	And you look like Tom Cruise, you know, and I look like Brad Pitt.
	Only different.
	Yeah, right.
	That's exactly what people tell me in the comment section.
	Exactly.
	Tom Cruise, if he smashed into a truck, maybe.
	I put the qualifier, but only different.
	But only different.
	But today, I do self-identify as Amish.
	Oh, good for you.
	Yeah, I've been listening to Scott Kesterson.
	I've been binge listening to him, and he's going to come up in an episode, and he'd reference kind of the Amish and just how none of their children have autism, none of their children have autism.
	Have ever gotten COVID or a shot or anything like that.
	They're just healthy as horses.
	Man, I respect the Amish.
	And also, don't forget about the Mennonites, which is another community close to the Amish.
	Or, you know, I mean, a different branch.
	It's like a hard fork of the Amish, you could say.
	So those are the Mennonites.
	But I respect them all because they...
	They are healthy and they're local.
	They're very community-minded and so on.
	But hey, I want to mention something else.
	Yes, sir.
	This is plugging what you have available now.
	And I appreciate you doing this, Todd, because since our show has launched, it's garnered a lot of attention.
	People are loving it.
	They're learning a lot.
	And we've had a lot of questions from a lot of people.
	Now, of course, we have the online chat room, Decentralized TV Chat on Telegram.
	But some people want more private consulting.
	And so Todd and I talked about this, and Todd agreed to actually serve as a private consultant for anybody watching the show.
	Maybe you own a company, maybe you've got assets, and you want to get into crypto or out of the banks, frankly, but you don't know yet how to navigate the crypto space, what skills you need, and so on.
	Todd, as I understand it, you are going to offer an hourly consulting service of some kind?
	How are you structuring that?
	Depends on the assessment, but yeah, it'll likely be hourly, and it will be having an initial consultation, seeing what the needs are, and then based upon that, I'll put a roadmap together.
	But ultimately, I think we're doing a really good job here, Mike, of waking people up to where you want to get out of The green stuff, of the fiat, and for your own protection, because it is like a melting ice cube.
	But more importantly, over the next couple of years, you preach it all the time.
	I mean, we're going to have a crash.
	The dollar's going to crash.
	Oh, man.
	And so you want to be proactive.
	And I'm talking about even...
	Even people with companies that have a treasury, you know, you just may want to consider diversifying a little bit of that into other assets.
	Gold, precious metals, private crypto.
	Yeah.
	You know?
	Especially private crypto.
	It's critical.
	And so, Todd, how can people reach you?
	Easy.
	You just have a ProtonMail email address and it's real simple.
	It's I'm Todd.
	I'm Todd or I am Todd?
	It's I'm.
	I-M-T-O-D-D. Okay.
	I'm Todd.
	At ProtonMail.com.
	Okay, but obviously without the apostrophe because that doesn't work.
	That's right.
	Okay, so I-M-T-O-D-D. At ProtonMail.com?
	You got it.
	Okay, cool.
	Easy peasy.
	They can reach you there.
	That's awesome.
	Folks, I'm going to brag on you a little bit, Todd, but Todd has years of experience conducting interviews and learning about crypto and advocating for Epic Cash.
	That was what he did previously, and who knows, maybe again.
	But you know a lot about the crypto space.
	You know kind of the crypto culture.
	You know some of the Some of the potholes to avoid or other kind of holes to avoid.
	And you know the opportunities and how to use swaps and what's private, what's not private.
	These are big questions that a lot of people need answers to.
	A lot of people are under the spell of certain coins.
	They think they're private, but they're not.
	And so with the best of my ability, I will try to help you or anybody who is just really interested in being able to protect their assets.
	Yes, exactly.
	Oh, and by the way, have you used the Sparrow wallet yet?
	Have you tried that?
	I have it right here for my weekend to do.
	Okay, cool.
	Are you enjoying it?
	It's wild.
	So for those watching, Sparrow Wallet, I think that's just the website, sparrowwallet.com.
	This is a Bitcoin-only wallet, and it's a wallet that attempts to achieve some degree of privacy with Bitcoin.
	Oh, it's a pain in the butt, I heard.
	Oh my goodness.
	Well, first of all, I mean, it's brilliantly programmed.
	I'm not blaming Sparrow Wallet.
	It does its job.
	But because Bitcoin was never designed to be private, you have to go through all these extra steps.
	In order to try to mix and match the UTXOs, the unspent transaction outputs.
	But Sparrow allows you to have individual control over every UTXO, and you label every incoming transaction.
	So, for example, I sent some Bitcoin from Kraken, where I have an account now, and I bought some Bitcoin there, sent it to Sparrow.
	And then on that receive address, I have to type a note.
	Oh, this is Kraken KYC, right?
	Because that's got my name on it.
	My social is tied to it on Kraken and so on.
	And then inside Sparrow, You can use a service, which is like a...
	I think it's called Whirlpool.
	It's a coin join type of service.
	Okay.
	And you pay a fee, depending on how much coinage you want on Whirlpool, and then the wallet submits your Bitcoin to the Whirlpool.
	And then over a period of several hours, this takes a lot of time, and anywhere from like 3% to 5% cost of your Bitcoin, Okay.
	Which is like a merchant credit card fee.
	Seems crazy.
	Then you get back these, like, all mixed, new, you know, fungible UTXOs.
	And then whatever didn't go, whatever didn't work exactly right or wasn't easily divisible into the size of those chunks, like 100,000 sats is a typical size of chunks there.
	Whatever you get that's changed, it goes into its own wallet called Bad Bank.
	And the Bad Bank UTXOs are the leftovers that couldn't get whirlpooled.
	And these are the leftovers that can be tied back to your original KYC. So you end up, when you run Sparrow Wallet, you end up with four Bitcoin wallets.
	Your main receiving wallet, your pre-mix...
	Your post-mix and then your bad bank.
	What do you do with the bad bank?
	I'm not sure.
	I don't know what you do with bad bank.
	I mean, can you just like send them back and exchange it for something else?
	It's like going to the bank with a crumpled up, half torn up $100 bill, like give me a good one.
	Yeah.
	By the way, give a little bit of a shout out to Kraken because they treated you like...
	I mean, it's not the problem, it's how the problem is handled in life, right?
	And they really treated you well.
	Thanks for mentioning that.
	Yeah, so Kraken, you may know, originally banned me...
	Because it turns out they thought that someone was impersonating me and had somehow faked my ID or whatever.
	And they did reach out and they apologized and they reinstated me.
	And then I went ahead and got approved for higher and higher levels on their platform to where you can send and receive more money each day now.
	And now it's so high that it's more money than I could even ever have.
	And it's like there are pretty much no limits for me to use Kraken.
	And I've been using it.
	I've been buying Monero.
	I've been buying some Bitcoin.
	I've been buying Litecoin to swap into other coins.
	A lot of that.
	That's a lot less expensive, right?
	To move that.
	Yeah, it's faster and cheaper than Bitcoin.
	So I don't really hold Litecoin other than to use it to swap into other coins.
	Right, right.
	It's your gateway.
	Yeah, my gateway coin.
	And then I also, I bought some, just to see how it worked, I bought some Tether, some USDT on the Ethereum blockchain.
	And I thought, well, I'm going to try to swap Tether for some other coin and see how that goes, see if it's any faster.
	And then I try to send Tether for my wallet, and it says, oh, to send Tether, you've got to burn Ethereum, and you don't have any Ethereum.
	I'm like, what the hell?
	When did I sign up for this whole thing?
	And so I had to go buy Ethereum.
	And then it turns out the whole Tether thing is slow and expensive, totally not worth it, so I got rid of that.
	Very quickly, and then just went back to using Litecoin.
	Good.
	Well, you know, that's called tuition.
	Yeah, apparently.
	Self-imposed tuition.
	That's right.
	Yeah, I got burned by Tether.
	It was a complete waste of time and money.
	And like I said on the show here, I'm like, why would I want a stablecoin tied to an unstable currency such as the dollar?
	It doesn't even make any sense.
	No, it doesn't.
	The only time it makes sense, I think, are for the traders.
	Because if they sense, if they do their magical charts and they read their key leaves and they think Bitcoin's going to plummet, that might be a point to get into a stablecoin.
	So if it does plummet, then they can go back in and acquire it.
	But I don't think our audience, Mike...
	Are going to be a bunch of traders.
	What do you think?
	No, they're not into day trading.
	And I strongly suggest that you avoid such activities unless you really enjoy losing money.
	98% of people lose.
	Yeah, yeah.
	Don't try to predict the market movements.
	And we're not about speculation anyway.
	As you know, Todd, we're about use cases.
	That's right.
	And practical solutions.
	By the way, speaking of use cases, by the time this appears, might there be an opportunity for me to be able to use some of my crypto to pay for some of your products?
	We certainly hope so.
	Yeah, our team is working on it.
	That's great.
	Yeah, and we want to accept, first, privacy coins.
	Yes.
	And, you know, as soon as we can make it work, it's going to happen.
	Perfect.
	We had a DDoS attack the other day that our whole dev team was distracted for 24 hours or so based on that DDoS.
	I heard about that.
	Yeah.
	Wow.
	Yeah.
	What a pain.
	It didn't take down Brighteon, though.
	And it didn't take down the store.
	So we have many different platforms.
	It didn't take down our dot social stuff either.
	So since we have so many different platforms, they each run their own code base and they have different dedicated hardware and so on.
	So at least they're kind of firewall.
	Decentralized DOS attacks.
	Great.
	Yeah, D-D-D-O-S. Decentralized evil is what I call it.
	Right.
	But anyway, in kind of wrapping up today, I think this is a really great interview because it's a practical matter.
	It's a very practical question.
	A lot of people wonder, if I spend my crypto, is that a taxable event?
	Or if I just swap crypto, is that a taxable event?
	And from what I understand, at least from what John Jay is saying, swapping crypto is like trading wheat for corn.
	Yep.
	You know, if you barter wheat for corn, that's not a taxable event.
	You just trade one commodity for another, or one asset, or what do they call it?
	Property, a piece of property for another.
	Yeah, crypto's property.
	Yeah, it's like, here, I'll trade you this cow for that cow, right?
	Yeah, and I found it fascinating when you're dealing with property or stuff.
	It's not taxable if it appreciates or you don't get a deduction if it depreciates if the IRS cannot accept that as a form of payment.
	And they don't accept crypto as a form of payment.
	So that's one angle.
	And you can go to asacoins.com and read up on that.
	He goes into a little deeper dive on that, so it'll make sense.
	He can explain it better than me.
	But it's when you convert it to cash.
	Right.
	Which I never planned to do, by the way.
	No.
	I don't either.
	Someone was asking me the other day, like, well, what are you going to do when you sell all this crypto that you're buying now?
	Because everybody knows I'm taking my after-tax personal savings and I'm getting it out of the banks.
	It's no secret.
	No, you have not kept that in secret.
	That is not a secret, no.
	If you hack my bank accounts, you'll be very disappointed.
	But...
	People ask me, what are you going to do when you sell this?
	Back into dollars.
	I'm like, that's never going to happen.
	I'm not selling this back into dollars.
	Why would I go back into a failed system?
	Now, maybe after the collapse of this system, actually I wanted to mention something about that, but after the collapse of the dollar system and probably the collapse of the United States of America as we know it, then whatever the next country is, or maybe it's going to be the Republic of Texas.
	That's where I live.
	And maybe you're going to be in the Republic of Florida.
	Who knows?
	But then if they have a new currency, You know, Texas bucks or whatever, Longhorns.
	T-Bucks.
	What?
	T-Bucks.
	T-Bucks, right.
	Then if that's a currency that backs the economy of Texas and it's widely accepted and I can use that, then yeah, I might trade a bunch of crypto for the new currency that I need to use to go out and buy groceries and gas and cars and whatever, you know, that kind of stuff.
	Right.
	Brisket.
	But I'm not going to turn my crypto into fiat dollars that are about to vanish.
	That's for sure.
	And the key is you might trade.
	I think that's a real key word.
	That doesn't mean you might go to...
	Kraken, and then, you know, sell it, and then off-ramp it, so that now your bank account, I mean, shoot, find somebody who really wants some private crypto, if they have T-Bucks.
	Yeah, exactly.
	And this is why I want to use privacy crypto.
	For all of us.
	I mean, Bitcoin's fine, but we were just talking about how complicated it is and costly to make it private.
	You can spend easily 3% or 4% or more just to do the coin join.
	And then the next time you use it, now you're starting to leave a trail again.
	But privacy coins that we focus on here, it's stealth.
	It's off the radar.
	It's like a stealth bomber.
	You just can't even see it on radar.
	Right, right.
	Yeah.
	I lost my crypto in my food forest, man.
	I don't know what happened.
	Sorry to hear that.
	Yeah, I think it eroded with the rain, the last rain.
	No, but I do like, with what I'm doing out back with this food forest, you cannot imagine the wonderful feeling I have, Mike, of knowing that I am getting rid of cash that I have, And I'm investing it in my future food.
	Not just for me, but for my neighborhood.
	You know, it'll produce so much fruit.
	And there's something just therapeutic about thinking that way.
	Getting out of the system, but into something to where you can give back.
	So that's another item that I want to speak to people about with my consultancy, is that there's a way for you, if you own corporate real estate...
	We can figure out how to install a food forest so that instead of paying for all of the poisons on your grass to keep it green while your white elephant is empty, turn it into a food forest, man.
	Make it a community event.
	Anyway, we'll talk more about that later.
	I can't wait to see what you do with the food forest.
	That's going to be really fun.
	It's going to be so cool.
	I love it.
	Okay.
	Well, very cool.
	So we're going to wrap up today's episode then as we have another guest coming on.
	I did just want to say, by the way, I recently interviewed Dr.
	Chris Martinson from Peak Prosperity.
	I've interviewed Steve Quayle just recently as well.
	And I'm going to be interviewing Robert Gnocchi here on the show coming up.
	And then in addition, Andy Sheckman is a friend of mine with Miles Franklin.
	And we're going to be interviewing him on the show as well.
	All four of these men, and also five, Jim Rickards, who I have not interviewed yet, but these five, I think, brilliant men, each of them, are all saying right now the same thing.
	And James Rickards said it best at dailyreckoning.com, I believe.
	He said that the international fiat currency system is going to collapse.
	Not just the dollar.
	Right, that's the bigger point.
	He says all fiat currencies are going to collapse.
	Because the era of artificially low interest rates and artificial money printing is coming to an end.
	It is unsustainable.
	It's a debt-based system.
	It's a Ponzi scheme.
	And it's almost done.
	And James Rickards is not some low IQ bum.
	I mean, you know, he worked with the CIA, man.
	And he helped bail out long-term capital management in 1997.
	He's a super high IQ individual.
	Yeah.
	And he understands exactly what's coming.
	So, folks, the dollar is...
	You're living through the last chapter of the dollar.
	And you know how you can tell?
	Is if you get out your satellite phone and you call your mom...
	Yeah, thank you for that.
	Thank you.
	That is the sponsor of today's show, the Satellite Phone Store at sat123.com.
	Thank you, Todd.
	We love calling your mom on your sat phone.
	I mean...
	Yeah, actually, my mom does have one of these sat phones, and all the top people in my company have these sat phones, and they also have the bivvy sticks right here, because when they travel, then I always know that they can be reachable in an emergency or they can reach me, and the bivvy sticks allow two-way satellite-based tech.
	And so even if the cell towers are down, even in the aftermath of a hurricane, earthquake, the infrastructure is gone.
	Electricity is off.
	You can still make phone calls.
	You can tell people you're okay.
	You can call in emergency assistance.
	You can be stuck on the side of a mountain.
	You know, you try to take a selfie, a dangerous selfie on a hike, and you went over the edge, and now you're clinging to the edge.
	As long as you have your sat phone, you can still make a call.
	There's even an emergency button on the bivvy sticks that you can pre-program that emergency button To send your GPS coordinates to all these people on this email list that you set up.
	So you're like, please come get me!
	So if that's you, or for a thousand other uses, check out these solutions at sat123.com.
	That's the Satellite Phone Store.
	And we thank them for their sponsorship.
	And we thank you, Todd, for that amazing guest.
	Great job.
	He was awesome.
	Oh, thank you.
	Thank you.
	Many more to come.
	Absolutely.
	Many more to come.
	Okay.
	Well, that's the show today, folks.
	Thank you for watching.
	Watch all the other episodes, in case you missed any, at decentralize.tv, and we have a lot of great episodes coming up, including an interview with, like I said, Robert Kiyosaki and many others.
	I'm Mike Adams with co-host Todd Pittner.
	Thank you all for watching today.
	Take care.

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