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May 10, 2021 - Timcast IRL - Tim Pool

02:10:01

Timcast IRL - State of Emergency After MASSIVE Oil Pipeline Hack, Gas Shortage Feared w/Max & Stacy

Participants

Main voices

max keiser

53:51

stacy herbert

27:23

tim pool

41:54

Appearances

ian crossland

02:55

Clips

lydia smith

00:22

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Show episode speakers

Speaker	Time	Text
tim pool ▲ ● ▼		The largest oil pipeline has been temporarily shut down.
		A state of emergency was declared in 17 different states in Washington, D.C., and there are fears that this could end up causing gas shortages and maybe even a spike in gas prices, which are already up, as it is.
		Now there's talk of inflation.
		There is fear that the bill is coming due.
		All that money that was being printed, all of these people who are getting $16 an hour in unemployment, all of these signs popping up across all of these different fast food restaurants where they say, we quit, we won't work here anymore.
		I'm feeling good.
		I'm feeling really good.
		I'm on the Tim Pool cast.
		isn't going to be recovering like many people think.
		This past jobs report was actually surprisingly bad.
		I guess they said it was the biggest miss since 1993.
		But don't take my advice for it, because I brought in the experts to actually help us
		break down what's going on.
		And we have the legendary Max and Stacey, Max Keiser and Stacey Herbert.
		Let me just say before, I want to ask you guys to...
max keiser ▲ ● ▼		I'm feeling good.
		I'm feeling really good.
		Excellent.
		I'm on the Tim pool cast.
		That's the kind of feeling I like to get.
tim pool ▲ ● ▼		Let me just say one thing real quick.
		Hot!
		But...
		If you guys listened to Max and Stacy when they were first shouting out Bitcoin, and you invested when they told you to, no joke, you would be a billionaire.
max keiser ▲ ● ▼		That's right.
		We've made many billionaires all over the world.
		100 millionaires!
		You know, our show goes out globally, 50 countries, millions of folks.
		We estimate we've created half a million millionaires around the world.
		And, you know, started buying it at a dollar.
		And we were the only ones covering it in the world for several years.
		And, you know, we just, wherever we go, we're treated like saints, basically.
tim pool ▲ ● ▼		A lot of people are rich now.
max keiser ▲ ● ▼		People have photos of Max and Stacey on their wall with little candles burning and incense.
		And there's Stacey and Andreas Antonopoulos.
		Those are the two holy saints of the Bitcoin universe, wherever you go around the world.
stacy herbert ▲ ● ▼		I will say that there are probably more millionaires than billionaires, Tim, because you can't forget that between 2011 and now it was very easy to spend or lose or have your coins hacked.
		So very few will have kept all those coins that they got back.
		And you know, when it was a dollar, as you were, we were pointing out before the show is like when it hits a hundred dollars, you're like, whoa, like I have so much money.
tim pool ▲ ● ▼		But not just, uh, I think we'll talk a lot about Bitcoin because of, you know, what's happening with the economy.
		But, I mean, you both have talked about the economy in general more than, you know.
		You were just explaining to us how the Fed works, the interest rates.
		So this is gonna be really interesting.
		People are worried about inflation.
		Now, I guess the Fed has done a 180, like, no, no, no, no, there's no inflation.
		We were kidding.
		It's not happening.
max keiser ▲ ● ▼		Right, right, right.
tim pool ▲ ● ▼		People are worried.
		So we're gonna get into all that.
		We also got Ian Schillen.
ian crossland ▲ ● ▼		What's up, everybody?
		Ian Crossland, iancrossland.net.
		Did you guys see, like, when Obama basically bailed out Fannie Mae and Freddie Mac?
max keiser ▲ ● ▼		Is that when the writing went on the wall and you were like, Oh, it goes back to the 87 crash of 1987.
		And I was working on Wall Street at the time.
		And that was the beginning, really, of when the federal government kind of took over markets because you had the crash of 87.
		And the next day, the markets were set to open another 500 points down or 22, 23 percent down.
		It was the biggest percent move down in the history of the stock market.
		And you had Alan Greenspan, Ronald Reagan, and the other fellow over there, Rubin.
		They created the Working Group on Finance, which became known as the Plunge Protection Team, and they started buying stocks in the open market and the federal government.
		And so this is when you had the beginning of the end of free market capitalism in America was really then in 1987.
		So subsequently, throughout the decades since then, the government's become more intrusive into the workings of the markets.
		So you ended up having, under Greenspan, what became known as the Greenspan put, which became the Bernanke put, which became the Janet Yellen put, which is now the Jay Powell put.
		And what that refers to is every time the markets go down, the feds come in and they buy markets.
		So you don't have any risk.
		They eliminate the risk.
		Particularly in the large fund and hedge fund universe, they know that they are playing a rig game where the risk is minimal to zero.
		They're borrowing money at zero.
		They're speculating without any restrictions or laws being enforced against them whatsoever.
		And whenever they make a mistake, they get bailed out.
		So it's heads they win, tails we lose.
tim pool ▲ ● ▼		So buy Bitcoin.
		No, no, no.
		Not financial advice, but we'll get into all this stuff.
		We also got Lydia pushing all the buttons.
lydia smith ▲ ● ▼		I am in the corner.
lydia smith ▲ ● ▼		I have to admit, this is my first exposure to Max and Stacey, and I am so excited for tonight.
tim pool ▲ ● ▼		I've known you guys for a really long time, like right back to Occupy Wall Street.
		We were hanging out in Paris.
		That was so much fun.
stacy herbert ▲ ● ▼		And you're still the same age.
unidentified		I know.
tim pool ▲ ● ▼		I don't age.
max keiser ▲ ● ▼		What is going on?
lydia smith ▲ ● ▼		Magic.
max keiser ▲ ● ▼		Jim Poole is the fountain of youth.
tim pool ▲ ● ▼		Part Asian.
tim pool ▲ ● ▼		No, that's the secret.
max keiser ▲ ● ▼		It's incredible.
tim pool ▲ ● ▼		All right, before we get started, ladies and gentlemen, go over to TimCast.com.
		There's a big, beautiful blue button that says Members Only, and you can sign up for our Members Only... For Members Only at TimCast.com, help support our work in the event we get banned or purged or whatever.
		But also, we do have exclusive Members Only segments.
		You can actually sign up now with Stripe, because a lot of people are requesting something other than PayPal, which is available.
		Then you click the Members area, and you can see our awesome segments that are only available to members.
		Last week, I talked about how Venezuela hacked my friend's Facebook trying to spy on me and get me to reveal my location while I was reporting from Venezuela, and I showed the phone messages from the Venezuelan agents or whoever they were.
		If you want to see that, you gotta be a member.
		But don't forget to like, share, subscribe.
		Subscribe to this channel, share this video, and if you're listening on iTunes, Spotify, or wherever else, leave us a good review, give us five stars.
		Let's talk about this first story because this is major breaking news.
		We have this from Axios.
		Emergency declaration issued in 17 states and DC over fuel pipeline cyber attack.
		So the Department of Transportation's Federal Motor Carrier Safety Administration issued a regional emergency declaration for 17 states and Washington DC to keep fuel supply lines open.
		Colonial Pipeline carries 45% of fuel supplies in the eastern US.
		Some 5,500 miles of pipeline has been shut down in response to the attack.
		So, if you're not familiar with the story, this is a ransomware attack.
		Basically hit one of the systems at Colonial.
		I don't know if it actually hit the industrial control systems, but they're computers.
		Which basically means they're administrative computers.
		These hackers...
		Yeah, yeah.
		They apologized.
		give us money we're going to encrypt your machines you'll never be able to
		use them they shut down in response this it's typical of what happens to
		companies when they do get hit by this but this is a major attack on our
		critical infrastructure now the funny thing about this I think is that the
max keiser ▲ ● ▼		hackers have apologized have you guys you guys they apologized they said is my
		bet we won't take the money It was an error of judgment on our part.
		Start shipping that oil again.
		Reopen the East Coast.
		Sorry!
tim pool ▲ ● ▼		Well, so the people who made the ransomware, I guess, said that we'll have to vet our clients and implement moderation policies.
max keiser ▲ ● ▼		Definitely.
max keiser ▲ ● ▼		That's a good recommendation.
stacy herbert ▲ ● ▼		There's some standards in these hacking communities.
max keiser ▲ ● ▼		Yeah, these hacking communities have got to get some standards.
unidentified		How do they have more standards than, like, the Fed?
max keiser ▲ ● ▼		Well, you know, it's like when I was living in Harlem, they used to say, uptown, there are no cops because, you know, you are the law.
		You have to be honest because there's no cops.
		Right?
		So in the hacker community, there's no cops.
		So you have to be honest.
		There has to be standards.
tim pool ▲ ● ▼		So I guess basically this hacker group, what are they called?
		They're called DarkSide.
		FBI names DarkSide as the Colonial Pipeline cyberattacker.
		I guess they sold the ransomware to someone who then used it and ended up getting a pipeline shutdown.
		If you're one of these hackers, you don't want the pipeline shutdown.
		You want to use your money for stuff.
		So what's the point of getting the money if, like, there's no oil?
		What are you gonna do, go buy a farm, I guess?
max keiser ▲ ● ▼		Well, it brings up, you know, a couple of points.
		The infrastructure in the United States is weak and getting weaker, and that's a huge problem, and there's very little funds to take care of it.
		And also you have the ransomware, and the inability to deal with that is kind of a secondary problem.
		Primarily the roads, bridges, tunnels, infrastructure, pipelines, oil pipelines.
		These things have gone neglected for decades.
		And now they're starting to fall apart.
		And the federal budget doesn't have any budget to repair these things.
		The country is already broke.
		And their solution, Tim, is always the same.
unidentified		Print money.
stacy herbert ▲ ● ▼		Is that real money?
tim pool ▲ ● ▼		This is not real money.
		None of it.
		You want to spray real money, you can spray real money.
max keiser ▲ ● ▼		Well, you told me I shouldn't rip up real money.
stacy herbert ▲ ● ▼		Don't rip up money.
max keiser ▲ ● ▼		I was ready to shred another $20,000 right here on the Timcast.
		You're like, no, no, don't do it!
		I'm like, listen, I'm Max Keiser!
unidentified		I rip up money!
unidentified		That's what I do!
max keiser ▲ ● ▼		do it so I gotta use the fake money I gotta use the fake money but this is all
unidentified		they can do they say oh the bridge broke let's print money oh the pipelines broke
		let's print money oh we need more roads and bridges let's print money oh there's
		not enough minimum wage jobs let's print more money that's all they know how to
		do they don't know how to do anything else that's the entire policy of every
		freaking politician in America that's it how much did they print last year like
max keiser ▲ ● ▼		58 trillion $58 trillion?
stacy herbert ▲ ● ▼		No, no, no, no, no.
		They increased the money supply by 25%.
		So, um... It was like $3 trillion or something.
tim pool ▲ ● ▼		It goes from yelling to Stacey's calm reaction.
unidentified		Yeah, yeah, yeah, yeah.
max keiser ▲ ● ▼		They're just adding more zeros.
max keiser ▲ ● ▼		There's no cost to it.
tim pool ▲ ● ▼		It's like, remember when Zimbabwe... Was it Zimbabwe where they had, like, the billion-dollar bill or whatever?
stacy herbert ▲ ● ▼		The trillion.
max keiser ▲ ● ▼		The trillion-dollar bill.
unidentified		Yeah.
stacy herbert ▲ ● ▼		I like also that...
		You know, over the past, since 2008, they keep on pretending that they're all meeting together, all these academics and economists, and they're going to come up with a new plan.
		And it's all the same.
		It's the same exact money printing.
		And they call it a new thing.
		And they're like, now we're going to try this.
tim pool ▲ ● ▼		So let's go back to the gas pipeline real quick.
		Let's go to the Wayback Machine.
		The Wayback Machine.
		Infrastructure is crumbling.
		Think about computers 20 years ago or whatever, when they built the industrial control systems for these pipelines.
		Yeah.
		And that's the level of technology many hackers need to overcome.
		And it's like 80s computer technology.
max keiser ▲ ● ▼		Yeah, they use, what's that operating system from the 80s and the 70s?
ian crossland ▲ ● ▼		Unix?
stacy herbert ▲ ● ▼		Oh no, COBOL.
unidentified		COBOL, yeah.
tim pool ▲ ● ▼		What?
unidentified		They use COBOL.
stacy herbert ▲ ● ▼		Our entire banking infrastructure is on COBOL.
ian crossland ▲ ● ▼		That's so weird.
max keiser ▲ ● ▼		And there's only like three guys who know how to program it.
unidentified		Wow.
max keiser ▲ ● ▼		Those guys are, you know, paid a lot of money.
tim pool ▲ ● ▼		Hold on.
tim pool ▲ ● ▼		Security through obscurity.
stacy herbert ▲ ● ▼		Yes, yes, yes.
		They actually say that.
		Yeah.
tim pool ▲ ● ▼		I know.
		Yeah.
		It's a common phrase.
		So what happens is it's so archaic.
		It may actually be easy to hack, but you're going to get some like 18 year old hacker in Russia being like, I have no idea what this is.
stacy herbert ▲ ● ▼		What is this language?
stacy herbert ▲ ● ▼		But there are only like a handful of guys who still know how to use it.
unidentified		Wow.
stacy herbert ▲ ● ▼		Speaking of like people being like, please work for us, please, please.
		Like they're in retirement.
		They're in their 70s and they're like, we just want to be retired.
		Yeah, but our whole banking infrastructure is about to collapse.
		Come fix it.
tim pool ▲ ● ▼		It's crazy to me that you had people, they built up this system and then basically shrugged and walked away from it.
tim pool ▲ ● ▼		And it's falling apart.
max keiser ▲ ● ▼		Yeah, yeah.
max keiser ▲ ● ▼		Well, they're cheap.
stacy herbert ▲ ● ▼		It's like, you know, the... But as Max will also point out, you know, the whole derivatives, the complexity in the financial system now is just so huge.
tim pool ▲ ● ▼		That by the time like more advanced stuff came around they they just didn't know how to unwind any of it like it's all Trapped in this old system Yeah, I talk a bit about this watching all the different stuff that's been happening over the past few years you know police departments cops are quitting like crazy riots are getting more emboldened and Yeah, because the markets are rotten and the money that we use is rotten.
unidentified		The U.S.
tim pool ▲ ● ▼		dollar is rotten.
		They're falling apart. There's a rot inside the core, but you guys have been talking about that for way longer than I've
		been around So so you've been watching this spread. I mean, especially
max keiser ▲ ● ▼		from financial markets particularly Yeah, cuz the markets are rotten and the money that we use
		is rotten the US dollar is rotten fiat money is rotten goes back to
		the 1971 when Nixon took us off out of the gold standard
		essentially and And the world started on a very bold experiment.
		Every country in the world had fiat money.
		That is, it's not backed by gold or anything.
		And so it became referential to other fiat money.
		So the dollars valued against the euro, which is backed by nothing, backed by the yen, backed by the Chinese yuan.
		It's a circle jerk that goes around and around and around.
tim pool ▲ ● ▼		I think it's backed by a bunch of people with guns telling you it's worth something or else.
max keiser ▲ ● ▼		That's what Paul Krugman says at the New York Times.
		He says that the reason the dollar has value is it's backed by men with guns.
		And that's true.
		It is.
		That's why you say fiat money is violence.
		It promotes violence.
		It is violence.
		And it is promotes war.
		The petrodollar certainly is part of the U.S.
		dollar matrix.
		And that is all about war and the cartel and everything that goes on in the Middle East.
		And it's all dollar related.
tim pool ▲ ● ▼		But if they can just print out money as easily as I can pull this trigger and fire off some, why can't they just fix our infrastructure with it?
max keiser ▲ ● ▼		Because they give it to banks, and the banks buy chateaus and property on Park Avenue, and Jamie Dimon is a billionaire.
tim pool ▲ ● ▼		So Occupy Wall Street?
max keiser ▲ ● ▼		Yeah, yeah.
stacy herbert ▲ ● ▼		They have a problem and that is that the U.S.
		dollar is a reserve currency.
		They have to send it overseas.
		You can't control the world.
		You can't have dollar hegemony.
		You can't have American hegemony without sending those dollars overseas.
		So they don't spend it here because that would cause inflation and they don't want inflation.
		So they send it to China.
		They send it to Europe.
		They send it to the Middle East.
		And that is supposed to sustain this hegemonic system.
		If they stop sending it overseas.
		If they were to start building factories and employing people across Michigan and Iowa and Idaho and places like that, then the dollar would no longer be the reason.
		Right.
unidentified		Right.
max keiser ▲ ● ▼		The trade deficit.
		So dig into it.
		I mean, go into it.
stacy herbert ▲ ● ▼		Dig it.
max keiser ▲ ● ▼		Dig into it some more.
		I mean, this is really fascinating stuff.
		This is the nettle of it.
stacy herbert ▲ ● ▼		This is the Triffin Dilemma, as they call it.
max keiser ▲ ● ▼		The Triffin Dilemma.
unidentified		Continue.
tim pool ▲ ● ▼		What's going on?
stacy herbert ▲ ● ▼		Well, the Triffin Dilemma is something that was warned about when we did Bretton Woods back in 1944.
		And Triffin had warned that the problem with having a reserve currency is that the geopolitics versus your domestic economics, they get into conflict.
		And that's the point we're at now.
		We hit it first in 1971.
		Because as the reserve currency country, we had to send all our dollars overseas, right?
		And that was backed by gold.
		So what you're doing is you're sending your gold overseas.
		And when France sent their warship into the harbor of New York to come collect their gold, they got their gold.
		England asked for their gold.
		They didn't get their gold.
		We shut the gold window.
		But since 1971, What's the next step of the Triffin Dilemma?
		You send your manufacturing, you hollow out your manufacturing base.
		And that's what we've done.
		We're at that end point.
		That's why you're seeing this disintegration.
		You know, it's just the entropy of the system.
		It's the entropy of the American empire, of the dollar system.
		Things, things disintegrate.
tim pool ▲ ● ▼		Happening faster and faster.
stacy herbert ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		Do you guys know about the fourth turning?
stacy herbert ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		We had, um, um, who was it?
tim pool ▲ ● ▼		Was it Ben Norton?
ian crossland ▲ ● ▼		Ben Stewart.
tim pool ▲ ● ▼		Ben Stewart.
tim pool ▲ ● ▼		Who's Ben Norton?
unidentified		I don't know.
ian crossland ▲ ● ▼		Cool name, though.
stacy herbert ▲ ● ▼		Ben Norton is that left-wing guy who works with Max Klobuchar.
tim pool ▲ ● ▼		Oh, that's right, that's right, that's right.
		Well, shout out, Ben.
		But no, we had Ben Stewart.
		He was talking about the book and a lot of the stuff that he was studying.
		And yeah, I guess the theory, whether it's true, and a lot of people say it's bunk, it's just nonsense, but... No, it's good.
stacy herbert ▲ ● ▼		We've covered that.
		Yeah, well they wrote about it in the 1980s and they said 2025 would be the year to look for it.
		They said back then.
tim pool ▲ ● ▼		So earlier I showed you guys, we're just going to release the secret live on the air, that there is a secret room in this building that no one knows about.
		And in it was food and beans and bullets.
		So good idea, huh?
stacy herbert ▲ ● ▼		Yeah, yeah, yeah.
		It's good.
		I want one.
		I want to live there.
unidentified		That could be like an Airbnb.
tim pool ▲ ● ▼		Well, so we had a tornado warning recently.
		Like legit.
		And like, the mail lady came up and she's like, get inside now.
		They just called it in.
		It's like, there's a funnel cloud.
		It's coming right this way.
max keiser ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		And so we go it's underground.
		It's like this underground thing.
		You know, no windows.
max keiser ▲ ● ▼		It's literally edible gummy bears.
tim pool ▲ ● ▼		That's all it's in there.
		Because the idea is if you're going to die, you want to just feel good on the way out.
		No, no, it's literally a storage room.
		We have like, you know, I don't know, Ian bought like 20 gallons of vinegar for some reason.
ian crossland ▲ ● ▼		I'm not done yet.
tim pool ▲ ● ▼		But I don't want to get into too much of that, but you guys are saying, you know, in the context of war and the fourth turning, are you guys familiar with Thucydides trap?
stacy herbert ▲ ● ▼		Yes, we are.
stacy herbert ▲ ● ▼		We have an episode of our show called, uh, when, uh, fourth turning meets Thucydides Trap.
ian crossland ▲ ● ▼		Oh, wow.
lydia smith ▲ ● ▼		Perfect.
tim pool ▲ ● ▼		That's what's happening.
tim pool ▲ ● ▼		It's not happened before, has it?
stacy herbert ▲ ● ▼		No.
		Oh, maybe the two of them happening together?
		Probably.
		It's happened 18 times, Thucydides Trap.
		16 have ended violently.
tim pool ▲ ● ▼		For those that aren't familiar, it's basically, and correct me if I'm wrong, that when a rising economic power meets, is about to overtake the dominant power, war breaks out.
stacy herbert ▲ ● ▼		Yes.
		And that happened in the past few years.
		And you notice all the propaganda against China.
		Sure, China is a different system than our own.
		And there are many problems with it, obviously.
		But we really started becoming very hostile to them once they overtook us in 5G, artificial intelligence, all the high tech stuff.
		which remember Joe Biden had mentioned back in 2000 when he was encouraging Congress to vote to
		elevate them to the WTO unfavored nation status. He was like, China's going to eat our lunch.
tim pool ▲ ● ▼		Come on, man. Not going to happen. No way. But it seems like Biden and many billionaires and
tim pool ▲ ● ▼		big corporations are totally deferential to China, if not absolutely supporting China.
max keiser ▲ ● ▼		Yeah, they don't care.
max keiser ▲ ● ▼		They'll go where the money is, right?
tim pool ▲ ● ▼		Exactly.
max keiser ▲ ● ▼		Hollywood edits in favor of the Chinese government and things like that.
		The Top Gun in China, Tom Cruise is actually Chinese in the release.
		Really?
		No.
tim pool ▲ ● ▼		I wouldn't be surprised if they said he was.
max keiser ▲ ● ▼		They did change a lot of iconography.
tim pool ▲ ● ▼		They would change the storyline.
		But they got rid of the Tibet campaign or whatever from Taiwan.
		That's what it was.
		Yeah, Taiwan.
max keiser ▲ ● ▼		Right.
tim pool ▲ ● ▼		Yeah.
		Now, I wouldn't be surprised if they did something like that.
		In that one movie, I can't remember what it was, they added the lines over the South China Sea.
lydia smith ▲ ● ▼		Yeah, animated movie.
tim pool ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		So it's like a little girl walks past a world map and it's China and the lines for the South China Sea are lined.
max keiser ▲ ● ▼		Well, that's the Thucydides trap.
max keiser ▲ ● ▼		So China drives the global economy and they're going to drive the cultural agenda as well.
stacy herbert ▲ ● ▼		The thing that changed, the thing that put us on the path towards a violent conflict was 2014, the Belt and Road Initiative.
		So what always happens is, as I was mentioning, when you have the world's reserve currency, you have to send your dollars overseas.
		Otherwise, because they can't print dollars, so you have to get it to circulate.
		So we were sending, first we were sending Saudi Arabia, Europe, and they kept recycling it back into treasuries.
		Well, that's what China did until 2014.
		Then they started taking their dollars and lending it to Africa, lending it across Asia to other nations and building infrastructure and ports and stuff like that.
tim pool ▲ ● ▼		Off U.S.
tim pool ▲ ● ▼		citizens.
stacy herbert ▲ ● ▼		Yeah.
		And America was like, wait, this is cheating.
		It's not cheating, really, but we're going to say it's cheating.
ian crossland ▲ ● ▼		When we loan money to China, are we borrowing it from the Federal Reserve and then we owe the interest to the Federal Reserve and then loan it out?
ian crossland ▲ ● ▼		Or does the money get loaned to the Chinese and they owe the interest to the Federal Reserve?
stacy herbert ▲ ● ▼		Basically, we have a trade deficit with them.
		So you have to run massive trade deficits when you have the reserve currency.
		So that's the lie that nobody will tell the American people.
		You know, Trump came close to it when he was like, make America great again.
		But the point is, you have to tell people like we either have the reserve currency or we have a domestic economy.
		Which do you want?
ian crossland ▲ ● ▼		And when you say we run a deficit, what is that exactly?
stacy herbert ▲ ● ▼		What does that mean?
		So China sends us Say for ease, say a trillion dollars worth of goods and we only send them 200 billion worth of goods.
		So they send us 800 billion more.
		We send them 800 billion more than we sell to them.
tim pool ▲ ● ▼		They're getting more from us than we're getting back.
tim pool ▲ ● ▼		Is that what it is?
stacy herbert ▲ ● ▼		Yeah.
stacy herbert ▲ ● ▼		They're selling us their goods.
ian crossland ▲ ● ▼		Yeah.
stacy herbert ▲ ● ▼		You know, and we sell them less and less.
tim pool ▲ ● ▼		Let's talk about the ramifications of, you know, mass money printing and all this stuff.
		I have the story from Axios.
		The wild ride of pandemic consumer prices.
		I find it interesting that they just say it's the pandemic, right?
		As opposed to what's been going on in this country for some time.
		So we've looked at the M1 money stock quite a bit.
		And sometimes M2.
		You guys know better than I do.
		but uh you can see around 2008 there's a major uptick in you know the money stock and then at the pandemic a massive spike so i think this this kind of stuff's been happening for a long time but they show us laundry detergent i'm sorry laundry equipment is up 29 percent car and truck rentals 24 major appliances 19 propane kerosene firewood 15 pork chops 11 used cars and trucks are up 10 then there's weird stuff like uh women's dresses are down 14 public transportation is down 15 Men's suits are down.
		Telephone hardware is actually down 20, which is interesting.
		And airline fares have dropped dramatically.
		I think that's for obvious reasons.
		But just to point out, lumber prices have skyrocketed.
		Steel has skyrocketed.
		There's a shortage of a lot of computer equipment.
		So we've been waiting now for over a month to get a new computer for the studio.
		And we keep getting told from everybody, hard to come by, can't get it, sorry.
		It's been particularly difficult.
		Prices are going way up.
max keiser ▲ ● ▼		Yeah, they are, yeah.
		Well, and you mentioned computer components and the price they're saying is going down.
		But that's actually, if you dig into it, a lot of times it's a lie.
		For example, if the phone, they'll say it's twice as fast as the phone that you bought two years ago, they'll say that means that the price has dropped by 50%.
		Even though you still paid the amount, the same amount.
		You paid $1,000.
		They say, actually, it's 50% cheaper because it's twice as fast.
		And that's what they cook into their books.
		When the Bureau of Labor Statistics reports the CPI numbers, the numbers are cooked, they're rigged, to show an outcome that they have pre-configured.
		They want to show 1.6% or whatever the number is, and they do whatever they can to hedonically adjust these numbers to get to that number because they have an incentive to keep the reported inflation as low as possible.
tim pool ▲ ● ▼		All right, so I'm sure that you're both Bitcoin trillionaires.
tim pool ▲ ● ▼		Yeah, definitely.
max keiser ▲ ● ▼		But we're in it for the technology.
tim pool ▲ ● ▼		But for the regular people, right?
		Regular people right now who have been working 40 hours a week.
		They've been getting paid and they're watching people get paid $16 an hour on unemployment.
max keiser ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		The people that are seeing all this stuff, the price is increasing.
tim pool ▲ ● ▼		What do they need to know and what do you think people should look out for?
max keiser ▲ ● ▼		Well, inflation's here.
		It's a secular move in inflation.
		It's not going to be temporary.
		It's going to be now structurally baked into the economy and prices are going to start to go up on a regular basis.
		And the reason why it wasn't as visible as it has been with all the money printing that has gone on is that essentially jobs were shipped over to China and that kept the numbers low for a long time because there was no wage pressure.
		But now, since the middle class in China has equaled the more or less middle class in America, you don't really have that sink of cheap labor anymore.
		Right.
		So now prices are going to start moving up in reflection of their actual money supply numbers for real.
		And that's what people are seeing.
		So, one key statistic, and this is true, is that once the budget of the average family, once they allocate 40% to food, that's when you usually see an insurrection.
		So we saw it in Egypt, when the price got to 40%, there was a revolution.
		We saw it in France, the French Revolution, the food costs got to around 40%.
		In the U.S., for a vast majority of folks, we're now bumping into that, you're getting now, approaching that 40% number.
		So that would indicate historically that you're getting close to a flashpoint where an insurrection would become historically the norm.
stacy herbert ▲ ● ▼		Wow.
tim pool ▲ ● ▼		That's scary.
stacy herbert ▲ ● ▼		All those things you're talking about.
tim pool ▲ ● ▼		Not really.
tim pool ▲ ● ▼		Did you guys buy like a mountain bunker in New Zealand or something?
max keiser ▲ ● ▼		It's normal.
max keiser ▲ ● ▼		I mean, you know, things happen and they're cycles.
stacy herbert ▲ ● ▼		Cycles happen.
		And the Thucydides trap, as you mentioned, that's going to lead to deglobalization.
		You're already seeing the deglobalization that causes prices to rise.
		You have the fourth turning, this young generation, the Generation Z, aren't going to... Do you think they're really gonna give 80% of their wages over to the retired boomers?
		No, they're not going to, right?
		No, I wouldn't.
		They have the numbers as well, so they're going to, you know, tell them to stick it.
		Then, in terms of the inflation numbers, Yeah, like we're at the end of that cycle as well.
		We're at the end of the dollar.
		The Triffin dilemma has reached the endgame.
		And you see that with the extraordinary amount of money.
		I mean, Max and I have been reporting on the global financial crisis since 2008, 2009.
		And the stuff they're doing now is just beyond any of that, right?
		It's like if you look at the charts of the money printing and the interventions in the economy
		now versus 2008, it's beyond anything. It's so ridiculous.
		And yet, we're still in the crack of boom side of it.
		Like things are like Stock markets are at all-time highs.
		House prices are at all-time highs.
		Incomes are up 20%, over 20% in the last year for the ordinary American.
		Incomes are up 20%.
		Most of it from the government transfers.
		So, you know, these are crack up boom times and they're printing more and more like you're supposed to do the money printing that the theory is under Keynes is you're not supposed to do that during the crack up boom times.
		You're supposed to wait for the crash.
unidentified		Right.
stacy herbert ▲ ● ▼		But they're not even waiting for the crash anymore.
max keiser ▲ ● ▼		Again, getting back to this Greenspan put or the machinations of the Plunge Protection Team or the government in terms of markets is that they would not allow for a normal business cycle to take place.
stacy herbert ▲ ● ▼		Yes.
max keiser ▲ ● ▼		Where you have a downturn and then you get rid of, for example, the banks in 2008 were caught committing massive fraud.
		And so in a normal capitalist economy, a business cycle, those banks would have had to go bankrupt and we would have had new banks and new jobs.
		But instead, they bailed out the creditors.
		They bailed out the banks.
		Again, historically, you never see that.
		Usually, in a crisis like that, the debtors get bailed out.
		The people who were at the mortgages and the debit credit cards would get bailed out.
		Not the banks who made the fraudulent loans.
		They got bailed out.
		And what they did with that, what was called $16 trillion of bailout money, when it's all said and done, Is they simply were allowed to expand their credit card, expand their credit facilities, and do the exact same things that caused the crisis in 2008, but to do it 10 times to 20 times bigger, or 20 times worse.
		And we've been saying now for 10 years that, you know, what's going to happen in 10 to 12 years is going to be the 2008 crisis part two.
		And that's exactly what we're in now.
		It's just the same crisis from 2008.
		The global economy died in 2008, but now it's getting buried.
tim pool ▲ ● ▼		Now it's like a lich.
		Is that how you say it?
		Yeah, that's one way to say it.
		It's like an undead, reanimated corpse.
max keiser ▲ ● ▼		Well, how many zombie companies are there in the United States?
		Something like 30% of the S&P 500 are companies that can't really afford to pay interest on the debt that they carry on their books from their earnings.
		They're technically zombies.
		They're dead companies.
		They're the walking dead.
		And that's like a third of all the S&P 500.
		They're just kept alive by free money printing.
		It's just like money, money, money, money.
		Amazon just announced today that they're going to float billions of dollars of the bonds.
		Guess what?
		To do what?
		To buy back their own stock is what's going to happen.
		So here again, it's 0% money for some, which is incredibly dangerous.
		For example, when Amazon bought Whole Foods, it was accretive from day one.
		They cost them nothing.
		They bought it for nothing.
		When Tiffany was bought by LVMH in Europe, They bought Tiffany. How much did they pay to buy Tiffany,
		a multi-billion dollar company?
		They paid exactly nothing because the European Central Bank lent them all the money
		they needed. The Central Bank to buy Tiffany's with no interest.
		They gave them Tiffany's as a gift. Already the biggest luxury company in the world.
tim pool ▲ ● ▼		This just kind of sounds like fascism.
max keiser ▲ ● ▼		It's a corporatism.
stacy herbert ▲ ● ▼		But also, like, it's important to point out that in the past year, we've done fiscal stimulus.
		So since 2008, it's been just Federal Reserve stimulus, and that's credit to the banking system.
		So it's not cash.
		This is cash.
		This is what they've been printing that the trillions of dollars that the US government is printing.
		That is high velocity, real money.
		That is what causes The big inflation.
		Yeah, yeah.
max keiser ▲ ● ▼		Right.
tim pool ▲ ● ▼		So is this why you guys were saying buy Bitcoin?
tim pool ▲ ● ▼		Like back in the day?
max keiser ▲ ● ▼		We were gold bugs in 2011, and then we were introduced to Bitcoin, and we immediately realized that this was digital hard money.
		I have a background in virtual currencies going back to the mid-90s.
		I created the Hollywood Stock Exchange, which I invented a digital currency in 1996.
		I have a patent on that digital currency.
		So I immediately recognized that this could do what we were trying to get that to do back in the mid 90s.
		And so we went from gold over to Bitcoin.
		And it's kind of like when Dylan went electric.
tim pool ▲ ● ▼		So we I'm going to I'm we're going to come back to this conversation.
		So we got we got breaking news.
		Let me just pull this up.
		This is from Bloomberg.
		Bloomberg Law.
		Is this this is from Bloomberg Law.
		Yeah.
		Gas stations running dry as hacked pipeline tries to restart.
		Yeah, we were worried, actually, on the drive up here, because I was like... Guys, we've got this little bunker, you know?
		We put some cots in there, we've got some hammocks, and there's beans.
		And we've got a lot of MREs, just because they're fun.
stacy herbert ▲ ● ▼		But do you have MRE gasoline?
tim pool ▲ ● ▼		I do have an electric car, and my van is solar-powered, so in the apocalypse I can actually plug my electric car into the solar power from the van, and in probably about two or three weeks you'll be able to drive the electric car.
max keiser ▲ ● ▼		Well look, this is a function of too much debt.
		So, the infrastructure is breaking down and yet before, up until a few years ago, you had this just-in-time economy where things were logistically all connected.
		You had globalization and you had this incentive to keep all these systems going at the absolute rock-bottom cheapest price and to not pay anybody anything in terms of a decent wage.
		But once the Thucydides trap kicks in, once the U.S.
		dollar loses its status as a world reserve currency, then it reveals all of the shortcomings in the system, and it reveals all the fragility in the system.
		And there's suddenly no way to repair these infrastructure projects, because the money's being sent out directly from the Treasury to appease the rabble-rousers from staging an insurrection.
		I mean, this is what they do in countries where the population's about to insurrect, is they try to throw money at them to appease them.
		And that works for a short period of time, and then it doesn't work.
tim pool ▲ ● ▼		So how much time do we got left?
max keiser ▲ ● ▼		Well, every time you read a story like that, like, oh, you know, we ran out of microchips, so the cards aren't being delivered.
		Oh, gas lines not being restarted, can't get gas.
		Oh, the price of food is not 40% of my weekly budget, right?
		You add all those data points up, and every day you get new data points.
		So it's tough to say exactly when the pot boils, but it's happening.
stacy herbert ▲ ● ▼		But I say get ready for good times because, you know, this stuff has to end for the next generation to have their way, right?
tim pool ▲ ● ▼		The night is always darkest before the dawn.
max keiser ▲ ● ▼		It's good for millennials.
max keiser ▲ ● ▼		Millennials are going to have a great century.
stacy herbert ▲ ● ▼		Yeah, and the Generation Z who are like 25 years old now, the oldest ones.
		That in terms of those microchips, you know, you have been talking about cycles and the business cycle that used to exist when Max and I were, you know, your age, we had the business cycle.
		And the thing about the semiconductor chips is they, you know, they never, they never planned.
		Nobody expected the money printing, like the fiscal stimulus, right?
		So what happened is naturally these business executives saw a pandemic, saw global lockdown.
		And they canceled their orders.
		They said, we don't need that.
		We're not going to need those cars because we're on lockdown.
		Right.
		No, they didn't expect the thousands and thousands of dollars to be thrown at everybody and everybody to go on a buying spree.
		So there were backlogs like everybody.
		All these auto companies had canceled their orders, expecting that things would be slowing down.
		And across the board, computers, phones, all that stuff, every everything that uses a microchip.
		They were not expecting so much money.
tim pool ▲ ● ▼		It sounds like there's two things I'm kind of hearing from what you guys are saying.
		The first is that there are people who decided the ship's sinking.
		Extract as much as you can before it goes down and bail yourself out.
		But the other thing is, you know, I mentioned the fascism thing, because when you say like the central banks are giving this money to like Amazon to buy Whole Foods or whatever, it sounds like the government is surreptitiously empowering massive corporate monopolies to seize power.
max keiser ▲ ● ▼		Totally.
ian crossland ▲ ● ▼		It's not even the government.
		It's a private corporation.
		These these companies have no oversight.
		The Federal Reserve, the Bank of International Settlements.
max keiser ▲ ● ▼		Well, because this is why they say that inflation is, let's say, running at 1.6 percent, even though if you were to calculate inflation as you would do under the Clinton administration and without using all these hedonic adjustments, inflation actually right now is running 10 to 12 percent.
max keiser ▲ ● ▼		That's the real number.
tim pool ▲ ● ▼		10 to 12 percent.
max keiser ▲ ● ▼		That's what is really happening.
ian crossland ▲ ● ▼		Is that per year?
ian crossland ▲ ● ▼		Per dollar?
max keiser ▲ ● ▼		Per year.
		So now they say it's 1.6%.
		So why do they openly lie?
		Because for two reasons.
		The COLA adjustments, the cost of living adjustments for Social Security.
		So they save about $70 billion a year by not paying out what they should be paying out because inflation is going high to Social Security benefits.
		The other, but the primary reason, is that by saying that inflation is running low and in fact claiming that there's deflation.
		They can justify lower interest rates that are near zero, which are what powers all the consolidation.
		The Tiffany being bought, Whole Foods being bought, mergers and acquisitions.
		And when I said earlier about infrastructure crumbling because of all the debt, to finish up on that point a little bit, it goes back to private equity, what private equity does.
		Private equity can borrow all this money at near zero percent, buy entire companies, entire industries, and strip out all the assets and keep the profits.
		You know, Bain, the Bain Capital, Mitt Romney, you know, that's where he comes from.
		You know, we saw it in the movie The Wall Street in the 1980s, right?
		They were doing leverage buyouts, as it was called.
tim pool ▲ ● ▼		What does that mean?
tim pool ▲ ● ▼		What is it?
max keiser ▲ ● ▼		That means that if you have a company and you want to buy that company, what you can do is, and I was working on Wall Street when this really became huge, is that you can pledge the assets of the company that you don't own to borrow money.
		And then you borrow the money and you buy the company that you previously did not own.
		And now that you own it, you start to sell the assets off.
		The pension fund, the overfunded pension account, the real estate.
		You fire everybody.
		And what's left?
		And you pay down the debt that you borrowed.
		And you keep what's left.
		Which could be $100 million or half a billion dollars.
		That's called leverage buyout.
		And it was really pioneered by Mike Milken during the 1980s because he he he wrote a paper when he was a Wharton where he figured out that the lower grade debt outperforms high grade debt, you know, so he said, you know what?
		Why don't we just do original issue low grade debt?
		So Ron Perlman and all these other corporate raiders, as they were known, they went to Mike Milken.
		They borrowed billions.
		They did leverage buyouts.
		They bought these companies and they sold.
		They stripped them.
		They sold all the assets and they became billionaires.
		Well, over the last 30 years, that's become bigger and bigger and bigger.
		And so the private equity market like Warren Buffett is essentially a private equity firm.
		He doesn't invent anything.
		He doesn't do anything.
		He never worked a day in his life.
		He just borrows money cheap from the Fed, strips companies.
		He's an asset stripper.
		That's all he does.
		And he's overrated as a performer.
		If you take out the bailouts from the Warren Buffett performance over the past 30 years, he wouldn't be beating a money market fund.
		He's the most overrated money manager in history.
tim pool ▲ ● ▼		So people like to say when we're talking about, you know, IRAs or metal or Bitcoin, this is not financial advice.
tim pool ▲ ● ▼		The first thing I want to ask you a question.
max keiser ▲ ● ▼		I haven't given any financial advice on this program.
tim pool ▲ ● ▼		So I just wanted to ask real quick, like, why is that?
max keiser ▲ ● ▼		I would never do that.
tim pool ▲ ● ▼		Why would people say this is not like why do people do that?
max keiser ▲ ● ▼		Because you have to be licensed to give financial advice.
tim pool ▲ ● ▼		And so people could interpret what you're saying as advice?
tim pool ▲ ● ▼		Is that what it is?
max keiser ▲ ● ▼		Yeah, because then they could claim that you were offering advice, and they lost money, let's say, and then you're saying, okay, you gave me unlicensed financial advice.
tim pool ▲ ● ▼		But you've mentioned, you know, that people should buy Bitcoin, haven't you?
max keiser ▲ ● ▼		Yeah, because it's not it's I'm saying Bitcoin is a substitute for gold and it's a substitute for the dollar.
		This came up recently because a lot of journalists are saying they don't write about Bitcoin because they consider it to be a conflict in some way because they don't own a Bitcoin.
		They wouldn't own Bitcoin or write about Bitcoin, etc.
		But we're talking about a substitution for the base layer of money from dollars to Bitcoin.
		So it's not a financial advice.
		It's about advice about how to reconfigure the entire economy, the United States economy, the global economy, on a Bitcoin standard.
		And so we've been saying this since it was a dollar back in 2011.
		And we also talked about gold.
		If you talk about gold, gold is an intricate part of the global financial picture.
		So countries buy gold.
		The central banks own 30,000 tons of gold.
		You talk about gold, you could say you own gold.
		It's an inflation hedge.
		Here's a way to inflate against inflation.
		Gold.
		So Bitcoin is the new gold.
		It's digital gold.
		It started in 2011 when we talked about it.
		So we're making that point, that this is what it is, and that's what we've been saying.
tim pool ▲ ● ▼		The reason I ask is because you mentioned inflation was actually at 10 to 12 percent.
max keiser ▲ ● ▼		For real, yeah.
tim pool ▲ ● ▼		Which, shouldn't that make people act as though their pants are on fire, kind of freak out?
tim pool ▲ ● ▼		That's scary.
max keiser ▲ ● ▼		They should.
		The price of Bitcoin at $55,000 per coin is telling you that the U.S.
		dollar right now is in a hyperinflationary collapse against Bitcoin.
		That's what the price is telling you.
		Bitcoin is really the only market in the world that's allowed to trade freely.
		You don't find good price discovery in gold.
		You don't find good price discovery in bonds.
		You don't find good price discovery in stocks.
		So those markets are not telling you anything.
		The markets are rigged.
		Whereas Bitcoin is a freely traded market.
		It's telling you something for real.
		That the U.S.
		dollar in the fiat money world is in a hyperinflationary collapse right now against Bitcoin.
		That's what the price is telling you right now.
		That price should be alarming to people.
		It's not driven by speculation.
		It's not the bubble, Tim.
		It's the pin.
unidentified		Exactly.
tim pool ▲ ● ▼		I think it's both.
unidentified		It's not the bubble.
max keiser ▲ ● ▼		It's not the bubble, Tim.
max keiser ▲ ● ▼		You ran out of my money.
tim pool ▲ ● ▼		Here, put some back in.
		So it's it's not.
		I wondered this.
		Bitcoin isn't going up.
		The dollar is going down.
max keiser ▲ ● ▼		Exactly. That's for you.
ian crossland ▲ ● ▼		I think it's both.
tim pool ▲ ● ▼		A little bit of both. Probably.
max keiser ▲ ● ▼		Yeah. Well, I say people say Bitcoin is volatile,
		but it's not volatile.
		It's actually just reflecting the chaos in the fiat
		currency markets.
		It's a reflection, a true reflection, it's a true mirror of what's happening in the fiat money world.
		It's not volatile.
		The dollar is volatile.
		The dollar is in deep trouble for multiple reasons.
		And once you lose world reserve currency status, you know, you're talking about real inflation, where food and energy goes up doubles.
		And triples.
ian crossland ▲ ● ▼		You guys mentioned derivatives.
tim pool ▲ ● ▼		So hold on real quick.
		That means if someone, we're talking about regular Americans, many people listen to this show, they've got a savings.
		Maybe they've been working, they've been saving up a little bit as much as they can through the pandemic.
		Maybe they got a thousand bucks.
max keiser ▲ ● ▼		Right.
tim pool ▲ ● ▼		Over the past six months, the value of that thousand dollars is now the equivalent of like a hundred or two hundred bucks before it, like the year before.
max keiser ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		So you can't buy as much gas with it.
		You can't buy computers anymore.
		You can't buy anything with it.
max keiser ▲ ● ▼		That's right.
tim pool ▲ ● ▼		And if you can't do anything with it, it's not particularly valuable.
		But if in November, early November last year, what was it, Bitcoin?
		It was like $10,000 or like $13,000, I think?
max keiser ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		And now it's at $60,000.
		Yeah.
		So what was interesting is I was reading an article about the price of lumber.
		They said $10 worth of lumber last year is $60 today.
unidentified		Right.
tim pool ▲ ● ▼		And I was like, that's really interesting how it's very similar to the increase in the cost of Bitcoin.
max keiser ▲ ● ▼		That's right.
tim pool ▲ ● ▼		Meaning the dollar is probably tanking.
max keiser ▲ ● ▼		Exactly.
		That's exactly right.
		The lumber is a proxy for how bad the dollar is doing, as are these other commodities.
tim pool ▲ ● ▼		Isn't this good for the ultra-wealthy?
max keiser ▲ ● ▼		It can be.
		Well, typically it is, because they are invested in assets that do well in inflationary environments.
		So that's why a Modigliani would cost $200 million.
		That's why somebody paid $400 million for a Da Vinci.
		That's why Bitcoin is $55,000 to $60,000.
		But the thing about Bitcoin is that it's accessible to everybody around the world, access to a telephone.
		You don't have to go through the gatekeepers.
		It's funny that now UBS or JP Morgan are now offering Bitcoin to their high net worth individual clients, right?
		And they're going to charge a big fee.
tim pool ▲ ● ▼		Didn't Jamie Dimon just rag on it like for a decade?
max keiser ▲ ● ▼		He still rags on it.
max keiser ▲ ● ▼		But they are offering it to their high net worth individuals.
tim pool ▲ ● ▼		Who aren't smart enough to just buy it on their own?
max keiser ▲ ● ▼		They're not smart enough to buy it on their own.
		Rich people rarely are smart.
		That's one thing.
stacy herbert ▲ ● ▼		They don't want to take the risk.
		Individual sovereignty is quite difficult.
		It's not easy to learn how to hold your own Bitcoin.
max keiser ▲ ● ▼		So they want to sue somebody if Jamie Dimon Yeah, and there's the infrastructure of the financial markets in terms of custodianship and things like that that are important for the workings of the day-to-day financial are being put in place to now embrace Bitcoin so that banks can have proper custodian of these coins and companies like MicroStrategy run by Michael Saylor can put a billion, two billion dollars into it and legitimately so.
tim pool ▲ ● ▼		Doesn't this also mean that people's debt is going down in value as well?
		Say, for instance, if you owe $10,000 on a car, and now hyperinflation hits, everything's more expensive, you still only owe $10,000.
		Yeah, yeah.
max keiser ▲ ● ▼		Well, that's why the government keeps printing, because they don't want to pay their debt.
unidentified		Right?
max keiser ▲ ● ▼		They're trying to inflate their way out of their debt.
		There's only two ways out of the problem.
		One is to keep printing, as you just eloquently said, or two, allow for a default.
		In the 1930s, you had a deflationary depression.
		There was a default.
		Whereas in Zimbabwe or Weimar Germany or America today, it's an inflationary depression.
tim pool ▲ ● ▼		And it's because the powers don't want to give up.
max keiser ▲ ● ▼		They want to inflate their way out of this because, as you point out, if you have a lot of assets, the value of those assets are going to keep skyrocketing.
		Along with Bitcoin, but a lot of other assets are like, obviously, if you're trading, if you have a massive lumber or things like that.
		But for the average person, though, they don't have assets.
		So they simply see it reflected in the price of living and for food and energy.
		And so their quality of life, it will take a severe drop.
stacy herbert ▲ ● ▼		It's been pointed out that in the Weimar Germany you saw speculative attacks essentially from the wealthy against the Deutsche Mark, the Reichsmark.
		And that is that they used their leverage and their ability to borrow and racked up huge amounts of debt in Reichsmark and bought things like corporations, land and property.
		So that did happen from some industrialists in Weimar Germany.
		And you could say that is happening today as well, that these corporations and wealthy people, that's why Amazon is borrowing tens of billions of dollars right now, because they can, and they're going to buy assets.
max keiser ▲ ● ▼		Right, they're going to buy assets.
		They're attacking the Fed.
		They're attacking the country.
		Wow.
stacy herbert ▲ ● ▼		Essentially, it undermines the dollar.
		It's not like they're going out and saying, I'm going to take this dollar and I'm going to rip it up.
		They're like, we see what's coming.
		An industrialist is going to know because they see the input costs.
		They see the costs rising.
		They understand.
tim pool ▲ ● ▼		I think this is why we saw so many billionaires defend China.
stacy herbert ▲ ● ▼		What do you mean?
tim pool ▲ ● ▼		Well, when the Hong Kong thing was going on, a lot of industries and a lot of ultra wealthy individuals were like, come on, leave China alone.
tim pool ▲ ● ▼		You know, we we shouldn't.
stacy herbert ▲ ● ▼		Well, it's just like what we were saying earlier about everything running on COBOL.
		It's like our just-in-time delivery chains, you know, our supply chains, it's like we can't unwind it.
		And that would be the equivalent of them saying, okay, we have to reset and start a whole new thing.
		Like the supply chains, they can't reset it like that, that fast.
		So they can't say anything, right?
		Because otherwise the whole thing will fall apart.
tim pool ▲ ● ▼		I mean, I have to wonder, you know, they're doing this unemployment thing, right?
		$16 an hour equivalent to not work.
		So when asked Joe Biden and Jen Psaki were like, no, that has nothing to do with why we're seeing 7.4
		million job openings, but only 266,000 jobs filled.
		I think it's pretty obvious, right?
		People are being paid not to work?
max keiser ▲ ● ▼		Totally obvious.
		She's lying through her teeth.
		It's completely obvious.
		And the thing about her is that you've got a lot of people in America that know what it's like to live like a hedge fund manager.
		Do nothing and get free money from the government, buy assets, buy stuff, and do nothing.
		That's the way a lot of rich people, they just get, like again, Buffett or some of these other folks, they are literally welfare bums.
		They just get free money from the government and they don't do anything.
		They don't add anything to the economy.
		And so a lot of people are saying, you know what, now that I live like Ken Griffith, who's a hedge fund manager at Citadel, who puts Ben Bernanke on his board of directors, who gets involved in the GameStop fandango, who gets bailed out and uses the money to bail out his subsidiary Melvin Capital from the money he got from the government to bail out the year before.
		and then does nothing for it.
		People are saying, that's the way I want to live.
		I want to get free money too and live like these hedge fund guys.
		I don't want to work.
tim pool ▲ ● ▼		Is perhaps the GameStop rebellion as it's being called the first sign of like an actual insurrection against the
max keiser ▲ ● ▼		system?
		GameStop is like Wall Street, Occupy Wall Street, but deeper.
		So Occupy Wall Street can never get inside the system.
		The GameStop Reddit guys got into the system.
		They recognized that GameStop, the stock had been, there were counterfeit sales of many shares that didn't exist, but they were being sold.
tim pool ▲ ● ▼		Naked short selling, is that what it's called?
max keiser ▲ ● ▼		Naked short selling.
max keiser ▲ ● ▼		So they knew that they could bid up the price and put this short squeeze on.
tim pool ▲ ● ▼		That's amazing.
max keiser ▲ ● ▼		I love it.
		Yeah, it is activist.
		It is like, Well, we call it the Global Insurrection Against Banker Occupation, GIABO.
		So it's a worldwide phenomenon because the bankers are everywhere.
		They're doing the same thing everywhere.
		And all the central banks are working together.
		You know, when they say in the U.S.
		and J-PAL will say, oh, you know, actually, you know, rates went up a little bit six months ago, and we reduced our asset purchases by 2%.
		The fact is, on a net basis, when you look at all central banks, all the major central banks around the world for the last 20 years, there's never been a one single day that they haven't expanded their balance sheets and done But the GameStop thing is working within that system.
stacy herbert ▲ ● ▼		Gold works within that system.
		That's a, you know, relentlessly pessimistic sort of doomed system where these, you know, the command and control people in charge of our economy They'll never let anybody fight back.
		They'll never let you protect yourself.
tim pool ▲ ● ▼		Until it just falls apart.
stacy herbert ▲ ● ▼		And they will destroy you.
		But Bitcoin fixes that.
		Bitcoin allows you to just exit the system.
		As Christine Lagarde warned recently, she said we must stop Bitcoin because it's an exit, an escape valve from our system.
		You know, she's telling you the truth.
		And that's like, you know, once you exit that system and you become relentlessly optimistic, as we are in our Telegram group over at Orange Pill Podcast, you know, we, uh, you don't, you don't need to be, um, are you looking at my, I, you know, my, oh, my, my, my plan was like, I thought I, I thought I looked like Clint Eastwood with my, with my poncho.
		And then I realized Clint Eastwood doesn't really, you know, Yes, I am Christine Lagarde!
unidentified		I am the head of SCP!
		I come first, first, first!
		All the time, all the time, all the time!
		I am the head of SCP, the big, little, little boss!
		I'm the head of the SDP, the group of people who are interpreting the book. Yes. Do you have any questions? For me? Yes, I do.
		Yes!
stacy herbert ▲ ● ▼		She's asking, she's asking.
unidentified		Should I buy Doge?
tim pool ▲ ● ▼		I'm busy handling the audio.
stacy herbert ▲ ● ▼		Yeah, that's like my life.
unidentified		I'm sorry.
ian crossland ▲ ● ▼		I think Doge is the next step of the rebellion.
		What we saw the last two months is people, it's basically like GameStop, people just game the system.
		I don't think it's a good coin, but I think it's an example of people unionizing.
tim pool ▲ ● ▼		Hold on, I want to talk about the rebellion.
stacy herbert ▲ ● ▼		Bitcoin is the only rebellion.
		GameStop is not a rebellion.
		It's just like within the system.
		They control the system.
		They control the SEC, the stock market, all the stuff.
		Look what happened.
tim pool ▲ ● ▼		Can't they just short sell GameStop when it goes up again?
stacy herbert ▲ ● ▼		What happened?
		Robinhood stopped your sale, right?
		So they control that system.
		And you play by their rules.
		You know, the House wins.
tim pool ▲ ● ▼		Robinhood was, I guess, they were threatened, right?
tim pool ▲ ● ▼		Like, Robinhood, the company was targeted.
max keiser ▲ ● ▼		Robinhood gets their primary source of revenue from Citadel.
stacy herbert ▲ ● ▼		And JP Morgan was there.
max keiser ▲ ● ▼		And JP Morgan, they buy the order flow from Robinhood, so they shut them down to protect Melvin Capital, a subsidiary of Citadel.
max keiser ▲ ● ▼		So it's an all rigged situation.
tim pool ▲ ● ▼		Total rigged.
		Let's talk about the next thing that we're seeing.
		I gotta admit, I saw this story and I'm laughing.
		Quote, we all quit.
		Restaurant signs claiming staff walking out are popping up across the US.
		These tweets are something else.
		on Chipotle, on Burger King, on Wendy's, McDonald's, signs being like, we're closed because no
		one showed up today.
		There are signs people putting up saying we refuse to work for such little wages.
		And there's a couple of things.
		For one, we know Biden is basically paying people more money to not work than they could
		get from working, but also inflation.
		So if people, you mentioned earlier that people, 40% of their weekly budget is going to food.
		So if you're working at a fast food restaurant, it doesn't matter if you're getting $15 an hour or $20 an hour.
		What matters is how much food can you afford to buy at the end of the week.
		They could pay you $1,000 or $10,000.
		But if your food costs $4,000, $10,000 doesn't mean anything.
max keiser ▲ ● ▼		That's exactly right.
		I mean, if you can keep getting your wages raised, but the price of food goes higher than they're raising the wages, you're getting a cut in pay.
		That's what happens in Argentina, Venezuela.
		That's what's happening right now.
		They keep printing like mad, but they can't control inflation.
		And the policymakers will say there's no inflation because their banking constituents want that 0% money to keep consolidating and mergers and acquisitions and leveraged buyouts.
		So they say it's at 1.6% even though it is a patent false.
stacy herbert ▲ ● ▼		But the supply situation is going to be something we can't hide.
		So you have the shortages of all these microchips that's affecting all sorts of the economy.
		The problem with labor is a real genuine problem.
		Just on the drive up here, we saw hundreds and hundreds of signs all over the place begging people to come apply for jobs.
		Even in the middle of a field, like, there was a sign, Domino's is looking for drivers.
max keiser ▲ ● ▼		Yeah, a bunch of cows and a sign advertising for Domino's jobs.
max keiser ▲ ● ▼		They're going to hire cows?
tim pool ▲ ● ▼		All right, wait, wait, wait.
tim pool ▲ ● ▼		Ian, order more vinegar.
unidentified		I'm into it.
tim pool ▲ ● ▼		We got to start buying whatever we can.
max keiser ▲ ● ▼		People start hoarding, which then feeds an inflationary cycle.
tim pool ▲ ● ▼		Then prices go up because... But I'll get the vinegar first.
ian crossland ▲ ● ▼		I just bought 150 pounds of flour.
tim pool ▲ ● ▼		No, no, I already bought you 100 pounds of flour.
ian crossland ▲ ● ▼		Hey, I got 150 more.
stacy herbert ▲ ● ▼		It's that sort of mindset.
		The mindset, the psychology is what is really important to hyperinflation or whatever.
		I mean, but the other point I want to make is like I was just retweeted a story a day or two ago about in Durham, North Carolina, which is a pretty big city outside of Raleigh, and they can't find 911 operators.
		So they're having to divert.
		They had to admit that they've been diverting calls to Raleigh overnight because there's The economy's been hollowed out, right, through private equity deals, cheap money, borrowing, and debt.
max keiser ▲ ● ▼		So it's been hollowed out.
		It's just a shell that's cracking in real time.
		All that money was stolen.
		Trillions.
		Stolen!
		Stolen from the economy, Tim.
		It's fragile, like an eggshell is cracking.
		The people are now on the streets, and the revolution is in the air.
tim pool ▲ ● ▼		So you guys have seen The Wolf of Wall Street?
stacy herbert ▲ ● ▼		No.
max keiser ▲ ● ▼		I never saw it.
tim pool ▲ ● ▼		You never saw it?
stacy herbert ▲ ● ▼		But Max worked on Wall Street during those times.
tim pool ▲ ● ▼		So this was like, you know, in the film you basically have a bunch of coked out, drugged out, Wall Street guys being like, yeah!
stacy herbert ▲ ● ▼		Stop talking about Max like that.
tim pool ▲ ● ▼		And they're just like, they know that they're, yeah, I'm not selling.
		I'm staying.
		But it's like these people know that they're ripping people off, basically.
		Like they're just extracting access to resources and value from a system without providing anything to it.
max keiser ▲ ● ▼		That's right.
		At Wall Street, my job on Wall Street, it was a microcosm of the economy as a whole.
		So the byword as a stockbroker is do whatever you can to get commissions.
		And we've got lawyers.
		There's no such thing as the rule of law on Wall Street.
		You get the commission first, and if the feds come after you, you deal with it later.
		You pay fines.
		Wall Street keeps 90 cents of every dollar they steal.
		Right, 10 cents goes to the fines.
		Or the great thing about Wall Street is that they just changed the law.
		For example, when Citigroup bought Traveler, it's a big multi-billion dollar deal.
		They broke the Glass-Steagall law that had been in place since the 30s.
		They simply retroactively changed the law and said, we're going to change the law and it retroactively applies to that deal.
		There is no rule of law.
tim pool ▲ ● ▼		On Wall Street, full stop.
		I think it's just the rot goes deeper than this.
		Have you guys ever seen these things?
		They're called like power bracelets or balance bracelets.
		They're rubber bands that they sell for like 30 bucks.
		And they tell you, they say when you wear it, it improves your balance.
		And they use a trick called the center of gravity illusion.
		It's really simple.
		You ask someone to stand with their feet together and their arms straight at their sides.
		You then put your hand on their arm and pull downward slightly away from their body.
		They'll fall over.
		Then you put the wristband on their hand, and then you push slightly into their body, and they won't fall over, but you can actually, like, hang, because you're pushing towards their center of gravity.
		Salespeople, I would see them in these malls.
		They'd be doing this trick.
		And I'm thinking to myself, I know how the trick works.
		You could do it with a rock.
		You could do it with anything.
		How are they getting away with selling rubber bands for 30 bucks and lying to people?
		So I looked it up.
		It's very simple.
		Someone will start a company.
		They'll knowingly defraud people.
		The FTC would come in and say, you gotta, you gotta pay us five million dollars, and they go, oh no, we only made ten, here's your five, here's your cut.
		And then they take that money, and they do the same thing with a new company, a new entity, and they sell trash products, pay their fine, start a new company, trash products, and they get, you know, destroyed, shut down, but the government's getting a cut of it.
		So instead of actually policing these companies and saying, stop doing this, they're like, you know, so long as we get money, it's called the captured regulator.
		Yeah.
max keiser ▲ ● ▼		So the SEC and Elon Musk proved this brilliantly when recently he broke some laws and he openly mocked the SEC.
stacy herbert ▲ ● ▼		How about Austin, Texas, when they banned Uber because they were losing money on the drunk driving tickets.
stacy herbert ▲ ● ▼		We want people to drunk drive because the police made so much money from it in the city.
tim pool ▲ ● ▼		So revolutions in the air.
tim pool ▲ ● ▼		The system has been hollowed out.
ian crossland ▲ ● ▼		You guys mentioned derivatives earlier.
		What was the history of the creation of derivatives?
		Because that seemed like part of this hollowing.
max keiser ▲ ● ▼		Right.
		So derivatives go back to the option pricing formula for volatility that came around during the early 80s.
		And under the Reagan deregulatory environment, you had listed options.
		So listed options are essentially the first derivative and product.
		And so this is simply an option on the future price movement of a stock.
		And it's a big market, the options market.
		And then during the 80s, they introduced financial derivatives.
		Up until then, it was confined to stocks and commodities.
		So the futures contracts, as you could say, is a derivative.
		So futures contracts have been around for hundreds of years.
		It's a way for agricultural companies to hedge against the weather, right?
		So they can sell their product today.
		Just to a speculator, and therefore they don't have the risk of their product arriving to market and losing everything, because they need it to plant the next season.
		But with the financial derivative, you had the S&P futures and bond futures and money market futures and forex futures, so it gave banks the way to speculate on money itself in a highly leveraged way.
		And that was the beginning of financial derivatives.
		That's the beginning of when we have a global Ponzi scheme of banks essentially trading on inside information with each other on financial shenanigans in a way that was incredibly.
		But you're right in the sense that at some point, the derivatives market became bigger
		than the underlying market.
		So the derivatives market should only be a fraction of the underlying market.
		To give you an example of this, in the oil market, for every barrel of oil, there's something
		like 60,000 barrels in oil derivatives.
		That's how leveraged this whole thing is.
		For the global economy, which is, let's call it $100 trillion global economy, there's more
		than a quadrillion in derivatives, right?
		The derivatives market is a multi quadrillion dollar market.
ian crossland ▲ ● ▼		So an example of that would be like if a company loses $6 million in assets or something, but people bet on that they can make $60 million on that $6 million loss in a derivative.
max keiser ▲ ● ▼		Well, one great milestone in the derivative business was the credit default swap invention by Blythe Masters.
		Remember the Exxon Valdez oil spill?
		Instead of Exxon suffering financial calamity from that, Blythe Masters invented the credit default swap, where she was able to strip out bonds from bond interest and sell the interest separately, essentially, and insulated Exxon from that disaster.
		So they took the event, which would have been a liability, and they turned it into a non-event, effectively.
unidentified		Wow.
max keiser ▲ ● ▼		So that's just what we call financial engineering.
		And so you could say that it's a way to slice and dice securities into all different things.
		If you go to 2008, the subprime crisis was a derivatives crisis because they took subprime mortgages, which have a high probability of defaulting, And they mixed it with a AAA-rated government bond, and then they sold that mixed package as a tranche to a pension fund with the idea that, well, the probability of this collapsing is so minute that we're going to give it the same rating as the bond, a AAA rating.
tim pool ▲ ● ▼		This is like the housing crisis?
unidentified		Yeah.
max keiser ▲ ● ▼		So what happened was, for the first time in history, you had a housing crisis over the entire country.
		And so the subprime market collapsed spectacularly.
		And instead of fining or penalizing the banks that package this garbage, even in testimony, they told Congress that these were bags of expletive that they were selling to Goldman Sachs.
		Not only did Goldman Sachs knowingly and openly sell bags of expletives to clients.
tim pool ▲ ● ▼		Excrement.
max keiser ▲ ● ▼		Yes, excrement.
		They then made bets against their clients, knowing that the clients would blow up.
		So they made money on the short side.
		They sold their own client short to make money on the collapse of the client that they knew was going to happen because they had sold them the bags of excrement.
		So that's how insidious and awful and corrupt this whole system is.
tim pool ▲ ● ▼		It's kind of like encouraging your wife to go skydiving and then taking out a massive life insurance policy on her.
max keiser ▲ ● ▼		And then selling short the airline company, the skydiving company, knowing that they're going to be sued out of existence.
stacy herbert ▲ ● ▼		I have to also point out that you know while we're talking about inflation this is the thing that's so topsy-turvy about everything and why we have such a chaos in our economic system is those derivatives are collapsing and that is a black hole and that is a huge amount of deflation right so if that's worth nothing but it's right now on paper worth a quadrillion That's a lot of money.
stacy herbert ▲ ● ▼		That's like many, many, many, many, many, many trillions that we'd have to print every month just to break even on that.
unidentified		Right.
max keiser ▲ ● ▼		So the central bank has bought now trillions of dollars worth of this paper from Wall Street.
stacy herbert ▲ ● ▼		Eight trillion.
max keiser ▲ ● ▼		Eight trillion dollars to re-liquify Wall Street.
stacy herbert ▲ ● ▼		But that's just a small fraction of it.
unidentified		Right.
max keiser ▲ ● ▼		But they buy it at 100 cents on the dollar.
		But when you say, OK, what's the resale value?
		It's zero.
		So the Federal Reserve Bank is leveraged more than 100 to 1, which is they're leveraged more than Enron.
		Enron was leveraged 80, 70 or 80 to 1.
		It collapsed in a day.
		The Federal Reserve Bank is leveraged much more than Enron was leveraged and it could collapse overnight.
stacy herbert ▲ ● ▼		But that's the problem with whether or not it's inflation or deflation.
		And this is a debate that we've been having on all of our content for the last 15 years.
		Like nobody, economists, bankers, nobody knows for sure which one we're actually having.
tim pool ▲ ● ▼		Right.
		I want to say one thing, and I want to read you this next story.
		I think you're both wrong.
		I think Dogecoin is incredible.
		I think Dogecoin is... No, you're incorrect.
max keiser ▲ ● ▼		It's Dogecoin.
tim pool ▲ ● ▼		You want to know why you're wrong?
max keiser ▲ ● ▼		Dogecoin.
tim pool ▲ ● ▼		Dogecoin has just made a bunch of people who don't pay attention, pay attention.
tim pool ▲ ● ▼		And if, in the end, they trade Dogecoin for Bitcoin, it's better, isn't it?
max keiser ▲ ● ▼		No.
		You don't get the attention it's generating?
		I've been in this business for 10 years.
		And no one knows more about than I do.
		And it's a gateway drug to getting wrecked.
		So people think that they are smart enough to trade altcoins in a way that they're going to get more Bitcoin or they're just going to be in it for a minute.
		But the fact is that once you step away from Bitcoin, you're entering the gambling casino.
		So it's the same.
		If you go to Vegas and you go across the room with all the slot machines and you ask a hundred people if they're winners in Vegas, a hundred people say, yeah, I win all the time.
		I'm a big winner.
		They're sitting there with a smoke and a cigar, you know, with threadbare with nothing on their back.
		And they're like, I've been winning in this for years and years.
		Because the gambling mentality is such.
		You convince yourself that you're going to win at this gambling thing.
		So that's number one.
tim pool ▲ ● ▼		I do.
max keiser ▲ ● ▼		And number two, the projects themselves suck.
		They're all centralized garbage.
		Bitcoin is decentralized.
		It's a big difference.
		And you can't compare the two.
tim pool ▲ ● ▼		I'm not saying Dogecoin technologically or their infrastructure, their code.
		I'm saying a bunch of regular people, young people who had no interest at all in any capacity with cryptocurrency, all of a sudden now the door was opened to at least walking into the room.
		And if at the end of it, 10% of the people or 1% of those people who normally would never be involved are like, I'm going to buy Bitcoin with it because that's the real asset.
		So they bought some Dogecoin as a joke.
		It went up.
		They went, whoa, they sold it.
		Then they got Bitcoin instead.
		Isn't it better that people are at least understanding it?
max keiser ▲ ● ▼		Bitcoin is the house and everybody else are the chumps on the floor.
		So I own Bitcoin.
		If somebody wants to go into the speculative world of gambling on douche coins, And ultimately, all that capital, the size of the market is expanding, right?
		So it's a two trillion plus.
		And that means that ultimately more money will flow into Bitcoin.
		Bitcoin goes through cycles and right now it's going sideways and it's building a base and then it'll make a big leap again.
		And then you'll see rotation out of all these altcoins into Bitcoin.
		And a lot of people will get wrecked.
		And also when you're trading and those all kinds, there's all kinds of tax liabilities you have to be aware of.
		Absolutely.
		It's just it's not worth it instead of just huddling.
unidentified		That's what my shirt says.
		Huddle!
		Huddle baby, huddle!
max keiser ▲ ● ▼		That's what it's all about!
max keiser ▲ ● ▼		Don't make me get undressed, Tim!
unidentified		Don't make me get naked on your show!
tim pool ▲ ● ▼		Please don't get undressed.
		I'm not saying Dogecoin is better than Bitcoin.
		I'm saying Dogecoin as a marketing campaign got a bunch of people to finally know what crypto was.
max keiser ▲ ● ▼		They're going to get wrecked.
		So people who bought it last week on the, you know, Elon Musk on Saturday Night Live at $0.72 or $0.74 a coin, they're sitting at 30 or 40 percent losses today.
		And they're wondering what the heck am I going to do?
		It's going to scare a lot of people out.
		They're going to be there to not enter into the arithmetic of losing.
		The amount of percent gain you need to break even once you lose 10 percent is more than 10 percent.
		Right.
		So, you know, you and then you what happens is you tend to to trade Let me ask you about Bitcoin, though.
		For one, there's a finite amount of Bitcoin.
		They're not going to complete the 21 million coins until when?
		Do you know what year?
		had a rally today. So a lot of people who lost 30 percent on Doge in the last week
		are going to be I'm going to make it back on this other thing, which is even more
		ridiculously.
		So they end up with zero.
tim pool ▲ ● ▼		Let me ask you about Bitcoin, though.
		If for one, there's a finite amount of Bitcoin, it's going to it's not they're
		not going to complete the 21 million coins until when?
max keiser ▲ ● ▼		Do you know what? Another hundred years.
tim pool ▲ ● ▼		Another hundred years. Yeah.
		So if look, we I was talking
		with some some of the people here at Timcast earlier.
		And one of the suggestions was like, why don't you buy like do a video where you
		buy something big with Bitcoin?
		And I was like, because I'd rather have the Bitcoin.
		Why would I why would I give it up for anything?
		You know, Tesla says you can buy a Tesla with a Bitcoin.
		I'm like, I'd rather have the Bitcoin.
		It's like, why would I spend a million dollars on a $50,000 car?
		Bitcoin's going to hit a million bucks.
		And I think it's going to be a lot faster than most people realize.
		So I guess the challenge is right now, should people, you know, should hypothetical people who are working just be buying as much Bitcoin as possible, but keeping some of the fiat for regular use, rent, food?
		Because you don't want to spend the Bitcoin.
		You want it for later, right?
		At what point are you like, OK, now I can spend Bitcoin?
max keiser ▲ ● ▼		When it becomes greater parity to gold.
		So gold's worth about $10 trillion, let's call it.
		Bitcoin's worth around $1 trillion or so.
		When you see Bitcoin trading at parity to gold at around $500,000 a coin or $10 trillion worth, then I think it'll be transitioned from the pure only store of value to store of value and medium of exchange.
		It's not really a medium of exchange.
		As such, although on what's called the second layer with Lightning and other applications built on top, people are using it for transactions every single day.
		And a lot of people who do transact in Bitcoin that might spend Bitcoin, let's say $1,000 worth of Bitcoin, they'll immediately buy $1,000 to replenish that.
		A lot of people the most intelligent thing you can do is dollar cost averaging, which is just every single day or every week or every month, you simply put in 10 bucks, 100 bucks or 1000 bucks into Bitcoin on a regular basis.
		You know, we work with I think, you know, Swan Bitcoin is a company that specializes in this.
		And we work with them pretty closely.
tim pool ▲ ● ▼		I got an email from somebody.
		Somebody who was a wealthy individual who had a trust, like a wealthy family.
		And they were talking to their financial manager or whatever, saying, we need to start putting our assets into Bitcoin.
		And they said, absolutely not.
		We won't do that.
unidentified		Yeah.
tim pool ▲ ● ▼		And so the email I got was like very upset, like, what are we supposed to do?
max keiser ▲ ● ▼		Well, that's that's understandable.
		The entrenched, you know, the establishment in these markets don't want to the competition and they don't want people taking money out.
		Because once a lot of people understand that, you know, the saying goes, not your keys, not your Bitcoin.
		You take the keys off these exchanges and these products and you and so you're taking money out of the system.
		So for if you're somebody whose business is accumulating assets under management, AUM, and that's a negative for you because people are taking all their assets off and they're they're putting into cold storage.
		And so that's interesting.
		They don't want that competitive thing going on.
		And the amount of money made on selling products is enormous.
		And this is a there's no fees attached.
		It's it's it's free to store, essentially.
		So they don't want the competition.
		And but that is changing quite rapidly, as Paul Tudor Jones, very famous hedge fund manager, said he believes inflation is here and he owns a lot of gold.
		But he says Bitcoin is the fastest horse in the race.
tim pool ▲ ● ▼		How long until you think Bitcoin reaches half a million?
max keiser ▲ ● ▼		Well, I've got a price target for 2021 of $220,000 per coin.
tim pool ▲ ● ▼		Why?
max keiser ▲ ● ▼		Based on the halvings that we've had every four years, we've had three halvings, and typically you see these types of price moves in the year.
tim pool ▲ ● ▼		You can track a pattern?
max keiser ▲ ● ▼		Yeah, that's cyclically what we see.
ian crossland ▲ ● ▼		What's the halving?
tim pool ▲ ● ▼		So, one second, has the price tracked as you've predicted it thus far?
max keiser ▲ ● ▼		Pretty much, yeah.
		The first quarter it did very, very well.
		Now it's kind of going sideways.
		And I think we're going to see in the second quarter another breakout move to $70,000, $80,000, $85,000.
tim pool ▲ ● ▼		So I've known you guys for a decade and I told you the story of Bitcoin back in 2011.
		I was at a hackerspace in LA.
		It was called Crash Space.
		I was hanging out with my friend Jeff.
		And I worked in my computer.
		I had savings.
		I had about five grand in savings.
		I had worked.
		I had saved it.
		I'm never going to touch it.
		It's my rainy day fund.
		It's like, I'm very proud.
		I was, you know, I was like 24 or something.
		And I said, I saw Bitcoin.
		So the Bitcoin faucet, for those that aren't familiar, there's a website that literally just gave you free Bitcoin.
		It was 0.05, I believe.
		Could be wrong.
		Just randomly, like, there you go, here's some... It was almost worthless.
		So I look at my friend and I'm like, should I just buy a bunch of this Bitcoin thing?
		Because I'm just saving this money.
		It's sitting in a bank.
		You know, I gotta pay fees or whatever.
		Why don't I just buy this Bitcoin?
		And he goes, ah, nah, dude.
		Like, it's probably a scam.
		You're gonna buy it off some dude and then it's gonna become worthless.
		And I was like...
		Yeah, I guess not.
		And so I was actually, no joke, sitting there about to buy like $7,300, you know, Bitcoin at $0.70.
		And then I remember when it went up to $5, and I was like, oh man, remember when I, when Jeff, when you told me I had to buy it?
		Then it hit $20, same story.
		Then it hit $500, same story.
		And what's funny is, so I remember when you guys were promoting Bitcoin like crazy, and I was just watching it like, yeah, but now it's at, you know, $5.
		If only I had bought with a dollar.
		Now it's at $60,000, and I'm like, why didn't I listen to Max?
max keiser ▲ ● ▼		Well, that story is the exact same story that Peter Schiff has experienced.
		Yeah, but he's still not buying, right?
		I told him at $1, I told him at $10, I told him at $100, I told him at $1,000, told him at $10,000, and he still won't buy it.
		He's still anti-Bitcoin.
		He's still saying the same silly things over and over again.
tim pool ▲ ● ▼		I have been.
max keiser ▲ ● ▼		It's still an uncommon story.
tim pool ▲ ● ▼		I was buying though so so you know what I like I'm like man I should have bought I'll buy some I'll buy a little bit but I never went gung-ho I never went full in I just bought a little bit here and there like yeah well I'll just have some well it's never too late you know this it's it's gonna continue to go up you know on this financial advice question it's like We're setting the table.
max keiser ▲ ● ▼		We're saying, look, here's inflation, here's your options, here's what people are saying, you know, and make your own choices, do your own research.
		But it's a very compelling story.
		And given what the track record has been and nothing we've said that would happen hasn't happened pretty much.
		We've been absolutely spot on in predicting the last 10 years pretty much every major turn in the global economy.
tim pool ▲ ● ▼		I'm definitely going to be buying more Bitcoin.
tim pool ▲ ● ▼		What do you think about Ethereum, though?
max keiser ▲ ● ▼		It's centralized garbage.
tim pool ▲ ● ▼		You don't like Ethereum?
max keiser ▲ ● ▼		It's shit.
tim pool ▲ ● ▼		Nah, it's fine.
tim pool ▲ ● ▼		Well, so I'm not going to pretend that Ethereum is the same thing as Bitcoin, I think.
max keiser ▲ ● ▼		No, it's centralized.
		The transactions are reversible.
		They've reversed the transactions before.
		60% pre-mined.
		It's an exit scam where Vitalik and those guys are just dumping coins whenever they feel like it.
		It's not robust at all.
		It's buggy.
		Nobody knows how many exist.
		You can't run a node.
stacy herbert ▲ ● ▼		What is it?
tim pool ▲ ● ▼		Ethereum?
stacy herbert ▲ ● ▼		Exactly.
		What is it?
		Like, what's the point of it?
tim pool ▲ ● ▼		So there's applications run off of it using ERC20 tokens.
stacy herbert ▲ ● ▼		Why not use Microsoft?
		Why not use AWS?
		Nobody can run a node.
		It costs too much.
		It's all hosted on AWS.
		That's true.
max keiser ▲ ● ▼		You can shut it down.
stacy herbert ▲ ● ▼		Do you think AWS is going to listen to Vitalik Buterin or are they going to listen to the Treasury if the Treasury contacts them?
tim pool ▲ ● ▼		No, I agree.
tim pool ▲ ● ▼		So I think I view Ethereum as very, very different from Bitcoin as more of like an investment into a company.
stacy herbert ▲ ● ▼		As opposed to Bitcoin.
stacy herbert ▲ ● ▼		And there are a lot better companies then to invest in.
max keiser ▲ ● ▼		But if your objective is to, everything that Bitcoin offers, and as we've discussed about it, and that's your objective, there's Bitcoin.
max keiser ▲ ● ▼		If you want to get involved in something called Ethereum, which is some software that is buggy and it's centralized and it has a track record of malfeasance, That's an option people want to make.
stacy herbert ▲ ● ▼		I want to be Medici.
		I want to be my own bank.
		I want to be the central bank.
		I want to have my own country within me.
		Ethereum doesn't give that.
		No other coin gives that.
unidentified		Just Bitcoin.
tim pool ▲ ● ▼		Are you saying you've invested in nothing other than Bitcoin?
max keiser ▲ ● ▼		That's all we did.
tim pool ▲ ● ▼		Nothing else.
ian crossland ▲ ● ▼		You guys should create your own coins.
stacy herbert ▲ ● ▼		No, you can't.
		As soon as there's an individual who can be identified, And that person can then take the coin down.
		The treasury contacts you.
max keiser ▲ ● ▼		It's centralized.
ian crossland ▲ ● ▼		I think the future of currency is like you make Max coin, Stacy coin, Ian coin, Tim coin.
unidentified		No, it's not.
ian crossland ▲ ● ▼		Well, hear me out, hear me out.
tim pool ▲ ● ▼		No, I had a question I asked.
tim pool ▲ ● ▼		You guys are not investing in anything outside of Bitcoin.
max keiser ▲ ● ▼		No, we have.
		We have Bitcoin.
		We have invested in Bitcoin startups, like, for example, Kraken, which is an exchange.
		When it was $5 million, we invested in it.
		It's now worth $10 billion.
stacy herbert ▲ ● ▼		SWAMBITCOIN.COM.
		We finance them.
		Investors in them.
tim pool ▲ ● ▼		But no like regular stocks of like, you know, blue chips or 4500s or anything?
max keiser ▲ ● ▼		No, because there's a couple of interesting companies that are Bitcoin related.
		So MicroStrategy has a big Bitcoin position.
		Square, which is Jack Dorsey's company, is really on the Bitcoin vanguard.
		So I have positions, I have small positions in these companies that have Bitcoin-related investments.
tim pool ▲ ● ▼		In what year was it?
		Was it 2012?
		I was hanging out with you guys and I was filming for some show.
unidentified		Yes.
tim pool ▲ ● ▼		And you guys, you were filming some guy, some rich guy, and he was like, you got to buy Square, and Square was like 13 bucks.
max keiser ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		And so I was, you know, I was mostly broke and I was like, all right, I'll buy some.
tim pool ▲ ● ▼		And I did not regret it.
unidentified		Oh, good.
tim pool ▲ ● ▼		So I tell these stories about how I wish I bought Bitcoin, but the reality is just standing next to you guys, hearing you guys talk about Square.
max keiser ▲ ● ▼		Right.
stacy herbert ▲ ● ▼		And then what actually... And Square is up a lot.
tim pool ▲ ● ▼		Oh, yeah.
tim pool ▲ ● ▼		Especially from back then.
max keiser ▲ ● ▼		Square is huge, yeah.
tim pool ▲ ● ▼		So for those that are familiar with when I went on the Joe Rogan podcast with Jack Dorsey, I said before we started the show, like, I should do a disclaimer that I own some shares in Square.
tim pool ▲ ● ▼		Not that much, like very, very little, because I was broke when I bought into it.
max keiser ▲ ● ▼		But now it's like... Yeah, well, we have some gold and silver from our gold and silver days, but we use it as collateral to buy Bitcoin.
unidentified		Wow.
tim pool ▲ ● ▼		What do you mean collateral?
tim pool ▲ ● ▼		Like taking out loans to buy Bitcoin?
stacy herbert ▲ ● ▼		That's the way wealthy people do it, right?
stacy herbert ▲ ● ▼		You don't want to pay taxes because as soon as you sell anything, you have to do your capital gains.
max keiser ▲ ● ▼		Yeah, we start buying gold at the $400 range.
tim pool ▲ ● ▼		So you go to a bank.
		What do you do?
		You say like, hey, I want $100,000 to buy Bitcoin.
		Then you buy Bitcoin a month later.
max keiser ▲ ● ▼		No, you go to a bank.
max keiser ▲ ● ▼		You put up your gold and silver as collateral and you take out a loan.
tim pool ▲ ● ▼		So then a month later, because Bitcoin's just skyrocketing, you just pay back the loan and then you got free Bitcoin?
stacy herbert ▲ ● ▼		You pay it back out of your earnings, so you don't have to pay the capital gains, right?
ian crossland ▲ ● ▼		On BlockFi, you can put crypto up as collateral.
stacy herbert ▲ ● ▼		It's a huge market, but you do have to give up your keys when you do that.
max keiser ▲ ● ▼		It's not worth it.
max keiser ▲ ● ▼		Don't go to BlockFi.
tim pool ▲ ● ▼		If dollars are going down, and we're like, man, this is bad, and Bitcoin is going up, this is great.
		And you can go to a bank and they'll say, we will give you the dollars to buy Bitcoin.
		That seems like a no-brainer.
max keiser ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		I'm not telling anybody to do it.
max keiser ▲ ● ▼		Gold and silver are going up.
		And so is the Bitcoin.
		Right. So my collateral is going up as well as my property, though.
		Property is good. Property is a sitting duck because you have property
		taxes which are going to go up.
		And you can't.
		It's also not very you know, I think it's not liquid.
stacy herbert ▲ ● ▼		During a bad time.
max keiser ▲ ● ▼		When you have what I think is going to be a very troubling time and you need to move and leave, let's say, the country, for example, you can't really take your property, but you can take your Bitcoin.
max keiser ▲ ● ▼		Just memorize a C phrase and you can go through the airport naked and you can have any amount of Bitcoin with you.
tim pool ▲ ● ▼		But it's... I mean, you don't want to just only have Bitcoin, right?
tim pool ▲ ● ▼		You want to have other things, I'd imagine.
max keiser ▲ ● ▼		Like, you want to maybe focus heavily on Bitcoin, but I'd imagine... Well, what happened over the last 10 years is that since the price went from $1 to $55,000, it has now become... It dwarfed everything else in the portfolio.
stacy herbert ▲ ● ▼		We invest, invest in yourself.
		That's the best thing to do.
		That's like better than any stocks or whatever, because, you know, as as you see, like somebody, somebody like Biden can come along and say, OK, capital gains is not 20 percent.
		It's going to be 43 percent.
		And you're like, dude, like.
max keiser ▲ ● ▼		Exactly.
tim pool ▲ ● ▼		I heard a great quote earlier today, though.
tim pool ▲ ● ▼		They said when when it all hits the fan and a Bitcoin is worth a million bucks.
max keiser ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		Do you know how many bullets it would cost to get to get a million dollars in Bitcoin?
tim pool ▲ ● ▼		One.
max keiser ▲ ● ▼		Right, not necessarily.
		Not with a multi-sig wallet.
		If you have a multi-sig wallet in cold storage, then no amount of bullets can get your Bitcoin.
unidentified		Yeah, yeah, yeah.
tim pool ▲ ● ▼		But you get the point, you know.
max keiser ▲ ● ▼		Well, the famous $5 wrench attack.
max keiser ▲ ● ▼		$5 wrench attack.
unidentified		Yeah, yeah, yeah.
max keiser ▲ ● ▼		So but that's that's that.
		But I would say in an extremist, Bitcoin is probably the most secure because gold and silver can easily be confiscated by the government or stolen.
		And it's tough to insure and keep in a vault.
		And you have your house can be taken away as houses have been taken away.
		So yeah, money can be canceled.
		Once you put money in the bank, you know, technically it's owned by the bank.
		You don't own it anymore.
		Right.
		So that can be confiscated.
tim pool ▲ ● ▼		Unless they can read your mind.
max keiser ▲ ● ▼		Right.
		So with Bitcoin, it's actually in a total breakdown.
		It's the only form of wealth which is actually secure.
stacy herbert ▲ ● ▼		How about all the money that police steal across America?
ian crossland ▲ ● ▼		Civil asset.
max keiser ▲ ● ▼		And people always say, what if electricity goes down?
		Well, actually, now Bitcoin is being beamed via satellite from Blockstream.
		So you don't even need the electrical grid to be working.
tim pool ▲ ● ▼		You can set up a Bitcoin password that's just like a regular old password you remember, right?
max keiser ▲ ● ▼		You can do, yeah.
tim pool ▲ ● ▼		So you can create a phrase that's really easy for you to remember but really hard for a
max keiser ▲ ● ▼		computer to crack.
max keiser ▲ ● ▼		Like a 12 to 24 word phrase.
tim pool ▲ ● ▼		Yeah, yeah.
		So I always tell people like good passwords are just like a song lyric or something or
		just a sentence.
max keiser ▲ ● ▼		Usually you get a random word generator which you can find online and they just generate
max keiser ▲ ● ▼		random words.
tim pool ▲ ● ▼		But that's not better than...
max keiser ▲ ● ▼		It can be because the...
max keiser ▲ ● ▼		I believe in the security...
stacy herbert ▲ ● ▼		The best place to go for information about that is called Bitcoin.page and that is run by Jameson Lopp and he's like one of the top security experts in the space.
		So, you know, I wouldn't take your security advice from, you know, from us right now.
		I would go to the top guy, Jameson Lopp, Bitcoin.page, and it has all the security stuff, how to create the best passphrases and all that sort of stuff.
tim pool ▲ ● ▼		Let's talk about the revolution.
max keiser ▲ ● ▼		Yeah, let's do it.
tim pool ▲ ● ▼		We got the story from Fox News.
		LAPD station firebomb attack caught on camera as suspect tosses Molotov cocktail at building.
		Suspect taken into custody at LAPD Topanga division station, but motive unknown.
		That's just the story.
		It could be nothing.
		I mean, you guys have certainly heard of stories like this throughout your life.
max keiser ▲ ● ▼		Right, you're seeing more and more of this.
		And with Bitcoin, it's peaceful.
		It promotes love and it promotes community.
		Whereas fiat money, this is a fiat money story.
		This is what happens when you have an economy based on fiat money.
tim pool ▲ ● ▼		This is what happens when somebody works for 80 hours in a week and then says, I need to pay my rent.
		And then a month goes by and he can't afford to buy food, even though he just worked 80 hours.
		His money is literally just paper.
stacy herbert ▲ ● ▼		This happens when disintegrations happen, when the entropy happens within a system that you see it all the time.
		Like, world wars happen, and it's not just world war.
		A pandemic happens at the same time.
		You see, before the Renaissance, at the end of the Dark Ages, you see bubonic plague, you see the Inquisition, you see all sorts of stuff start to happen at the same time because we're vibrating as a culture and a people and things are going crazy.
tim pool ▲ ● ▼		We got another story.
		I just got to read this.
		Officers fatally shoot man who rammed his SUV into Massachusetts police station, DA says.
		So this is just from today, this afternoon.
		Uh, the man managed to drive through the steel double doors.
		He was, he was, the officer shot the suspect.
		Appeared to be a man in his early 20s.
		After he got out of his vehicle and aimed what appeared to be a rifle at responding officers, no one was hurt.
		The man was taken to St.
		Vincent Hospital in Worcester.
		Where he was pronounced dead.
		On Monday, the Worcester County District Attorney identified the man as Zachary Richardson, a Leicester resident.
		So I don't know if we have anything on this guy or what his motivation was.
		But regardless, look, we see these stories and I think it's fair to say maybe they're just random attacks.
		If we can't read the guy's mind, we don't know.
		But I think everything you've mentioned, the signs we're seeing pop up at all these restaurants where people are refusing to work, people are ready to explode.
		They're livid.
		And I really do think Right, right.
		look at gas prices going up.
		There was this video I retweeted it where there's a guy he felt
		he's got 20 gallon tank, eighty nine dollars.
		And he's like, yo, Joe Biden, what the.
		All right. I'm ready to vote again.
		And I'm like, well, look, the bill comes due.
		You print all this money.
		What do you think?
max keiser ▲ ● ▼		And what's weird is that people seem to claim that the problem
		is what we could fall under the category of social justice.
		Right.
		For some reason, the policymakers in Washington think the problem has to do with... That's the trick.
		Pronouns or something like that.
		Whereas the problem is the paper money.
		But they will never address this problem because they themselves are the chief beneficiary of the graft, of the grift, of the Ponzi scheme.
tim pool ▲ ● ▼		I think you guys know this.
		Occupy Wall Street was legitimate early on.
		You had conservatives, libertarians, the left, left and right, complaining with the big banks.
		You had the Tea Party movement upset with the politicians.
		You had people ready to storm onto Wall Street, angry.
		And then all of a sudden, within a couple of weeks, the protest narrative started switching into white privilege, a progressive stack, racial hierarchies.
		And I would be willing to bet I'm not saying it's true that special interests were like, how can we get them to stop pointing the finger at us?
		Introduce race politics.
		Make the poor people point at each other instead of at the big banks, the financial institutions, and the corrupt revolving door policies of the government.
		And then all of a sudden, what happened?
		Conservatives started leaving, the libertarians left right away, and it became a woke fest where people were like, the white people can't speak anymore, and then people lost interest.
stacy herbert ▲ ● ▼		Well, look who's the most demonized of all in all of this.
		The economic bottom, the ones who've been harmed the most from this U.S.
		dollar reserve, from the Triffin Dilemma, from the Thracidity Strap.
		Like, we've demonized the And they're called fascists, and they're called white supremacist Nazis, you know, the ordinary person.
tim pool ▲ ● ▼		And it's like some fat truck driver from Dubuque or something.
stacy herbert ▲ ● ▼		Yeah, so they're the ones that are demonized because they want you to point to the victim as that's the person.
stacy herbert ▲ ● ▼		That, you know, rather than this economic system.
tim pool ▲ ● ▼		It's funny how many of these leftists who, you know, I used to, I've known many of them since I could buy Wall Street.
		They post this cartoon where there's three people sitting at a table.
		There's a rich guy with a big stack of cookies, a working class guy with like two cookies, and then a poor person with like one cookie.
		And he's like, that guy wants to steal your cookies to make them fight each other.
		And I'm like, how do they recognize this?
		And then simultaneously defend massive multinational corporations, cheer on the FBI and Joe Biden.
		It's like, all of a sudden, the tribe was more important than anything they ever protested.
max keiser ▲ ● ▼		Well, you've got a good perspective on it, because you kind of came out of that.
max keiser ▲ ● ▼		And so did Lee Kemp.
tim pool ▲ ● ▼		That's right.
max keiser ▲ ● ▼		And so he is voicing these concerns every single day in his show.
		Luke Rutkowski, who we know.
		He's a guy who was there with his camera and doing brilliant investigative journalism, on-the-scene journalism.
		You know, but everyone in the new media space, or the alt media space, also marginalized, also pushed to the side, and for the same reasons.
		Because the light does not want to be shined on the actual underlying root causes of these problems.
		And so what we do is similar, but we focus... They come up with that word, alt-right.
		Yeah, we focus on the money issue.
		That's what we've been doing for 16, 17 years.
		And we've been saying this and nothing we've said has ever been not been borne out by the truth.
tim pool ▲ ● ▼		You guys said that the Millennials are gonna have a great century and that the Gen Z, but the fourth turning may be upon us.
		We're seeing people attack police stations.
		We're seeing police quit en masse.
		Are we not going to see a period of tumult, violence and chaos before it gets better?
stacy herbert ▲ ● ▼		Um, we have the cable news, which is different from back in the 1960s or 70s, but look at documentaries about when Max was like a little kid.
		There were like a thousand fire bombings of, of government buildings from the weather underground and other groups like that.
		The, the Sibonese liberation army, like it was crazy back then.
tim pool ▲ ● ▼		Was there, was there multifactional violence targeting each other?
stacy herbert ▲ ● ▼		No, they were targeting the government.
		But now it's people against people because, of course, we don't, you know, it's essentially the same COINTELPRO sort of situation.
		You turn the people against each other.
		That's the best way to control them.
tim pool ▲ ● ▼		So I've talked about civil war.
		And I always preface this with, it was a Princeton professor who said we're in a cold civil war.
		It was, you know, the Atlantic and New York mag who mentioned that there are high probabilities.
		You have Thucydides trap, you have the fourth turning.
		And what people need to understand about the Civil War is that Americans often imagine the American Civil War as their reference for what Civil War is.
		It's not.
		So we recently had someone on who said, if it happens here, it'll be more like Syria.
		You'll get maybe 24 or 30 factions, totally unrelated, fighting with the government and fighting with each other in areas, and it would just be chaos and bombings and shootings.
		And it kind of feels like hopefully, I'll say hopefully doesn't happen, but we're already seeing the seeds planted of this.
		We're seeing various cells of Antifa groups with different names.
		They call themselves different things in different parts of the country, but they coordinate with each other to go after mutual enemies.
		You then have right-wing militia groups.
		We recently had in Portland, An armed group of, you know, fringe leftists marching around with full blackout gear, body armor, a couple of them in full blackout with body armor and rifles, and they were blocking traffic, essentially doing patrols.
		A guy gets out, they start banging on his truck, he tells them, you know, get out of the way.
		They have weapons.
		They draw on him, according to him.
		So he gets out of the truck.
		He thought he hit something.
		Someone goes in.
		They smash his windows.
		They grab one of his less lethal weapons.
		So he warns them.
		He pulls his gun out at low ready and says, the next person that aims at me, I'm going to shoot.
		He gets put in the hospital with some serious injuries.
		He's got two broken vertebrae.
		So these groups are in Seattle and Portland.
		It's getting nuts.
		And, you know, people are on an edge.
		One guy got shot twice in the chest by one of these leftist guys.
		And of course, you've got right-wing groups.
		You've got the people storming the Capitol.
max keiser ▲ ● ▼		I think we're walking through the doors of different factions of Disparate ideologies some that agree with others and some that don't ready for each other institutions They help or the glue to hold the country together the education institution education has been destroyed by debt and being overpriced So the education is now no longer available to the masses anymore.
		It's become a privilege amount for a few and Then you have a health care became financialized commodified and it's unaffordable or it's totally messed around with and You have the infrastructure is breaking down.
		And all these institutions, why are they so fragile?
		Why did this all happen?
		It's because they've been hollowed out with these private equity groups and Wall Street using all the leverage buyout and the debt and the funny money.
stacy herbert ▲ ● ▼		And now we're seeing the reaping the whirlwind of 40 years of... The scary thing is, it's kind of like Belfast, what you're describing there, if you've ever been there and understand the story there.
		And it's still going on, like you still see some stuff happening there.
		The militia groups.
		Max and I were there right during the G8, and Obama kicked us out of our hotel, by the way.
		We had to move to a different hotel.
		Luke Rutkowski was there and filmed for us there.
		They did up that street, one of the Protestant areas, loyalist areas, and they closed down the militia pubs.
		Except for it was I think it was UDF at this one.
		It was like for sale.
		They were trying to clean up the militias and like after the Good Friday agreement.
		And there was a huge sign on the outside of this building for sale.
		And right next to it, handwritten, not for sale property of the UDF.
		So nobody bought it in the in the eight years it was for sale because they're like, OK, I'm not going to get firebombed by that.
		But that's but they're like Again, like it's still going on the troubles are still going on it starts nominally with like Protestant versus Catholic and you know the Queen versus like independent Ireland and
		And the same thing here.
		It's like it starts off like low key, like MSNBC versus Fox.
		And then it's like this weird movable feast that there's no one thing you could stick your finger on.
		It's like changes what their ideology is and what the word that is a trigger word that's going to get you knifed in some alley.
tim pool ▲ ● ▼		Right.
tim pool ▲ ● ▼		You know, you know, it's really scary to me is that, you know, two years ago I said things are going to get bad.
stacy herbert ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		And then a lot of things I said we're going to have it happen in January.
		We had our friend Jack Murphy who comes on the show every other Wednesday.
		I think he was our first guest.
		We talked about predictions for the year and we got some things eerily right.
		A bunch of fans of the show were like, look at these clips from your show in January of last year, that's freaky.
		And it's funny because it feels like we're frogs in a pot with the water slowly coming to a boil.
		As much as I've been talking about so much of this, it's like every day it seems like more and more is happening that makes it feel like we're actually, we're in it and it's getting worse.
		And the scary thing is to realize we're not wrong.
ian crossland ▲ ● ▼		Well, it's media pressure.
		I don't know if it's necessarily getting worse or just seems like it's getting worse.
		It's definitely by design.
		They want us to think it's getting worse, so we don't focus on the Federal Reserve.
stacy herbert ▲ ● ▼		From my Facebook page, which is a great barometer for me and has always worked well, and for 2016, I could see that Trump was going to win based on what I was seeing.
		Half my family is Democrat and really Democrat, and half the family is Republican and will only vote Republican.
		And of course, The Republican side are all military and police and the other side are all like academics and Wiccans and stuff like that.
		Wiccans!
		And the Democrat side is like vicious now.
		It's impossible to go on my Facebook page because if one of my Republican family like leave a message like oh I voted for Trump and it's just like an avalanche of all my like left-wing friends, my Democrat
		friends are just like, you Nazi! And I'm like, this is my Facebook page, this is my family. But what's
tim pool ▲ ● ▼		scary is that those people can't explain themselves. No! And I, we talk to conservatives all
		the time who have, I mean, there's a wide range of political ideologies outside of
		this tribalist, Trump deranged, and now without Trump it's even creepier because I don't
stacy herbert ▲ ● ▼		even know what they're mad about at this They're still so mad.
		It's a terrifying anger.
		It's the sort of anger where you justify all sorts of stuff with that sort of anger.
tim pool ▲ ● ▼		It's fascistic.
		These people are cheering on the FBI and George W. Bush.
		That scares me.
		I know hackers from back in 2010, 2011, people I was hanging out with who were anti-establishment.
		People who were out in front of jails because their buddies had been arrested by the feds for non-crimes.
		People who had thrown parties, no joke, hackers, who threw parties for white nationalists because they were hackers who were anti-establishment.
		These people today are cheering on the federal government.
		They're they're cheering for law enforcement. They're they're pro-establishment. They're pro-democrat
		They're pro-joe biden and i'm like what happened to those people to where they've thrown away any semblance of
		principle or ideology and just said Whatever the establishment says goes because they fear it's
max keiser ▲ ● ▼		all going to be taken away So he's talking about the elites coastal elites the media
		elites They never had a moment as they have now for many years where people with pitchforks and torches are outside their home and they're protesting and they are frightened.
		Because it was very, very cozy for decades to just be behind a wall and to be an expert or a pundit or part of the elite.
		And suddenly that's all being ripped apart and they are frightened to death.
		So they're calling the FBI and saying, I know that I protested you for years and I know that I'm against the invasiveness and the lawbreaking that you're committing along with the CIA.
stacy herbert ▲ ● ▼		It's projection.
tim pool ▲ ● ▼		But I'm not talking about rich people.
		I'm talking about people who slept on the ground at Occupy Wall Street.
		I'm talking about people who are like 20 years old, had 10 bucks to their names, had the system is broken, and were living on the streets, are now pro-establishment, pro-FBI.
		And so when the FBI raided Giuliani's office, I see all these posts from these activists, these hackers, and they're saying, they're cheering and they're celebrating, they're posting beer emojis and clapping.
		And I said, woo, go FBI, go centralized federal government and law enforcement.
		And I was like, it's so great to see how you guys have been completely de-radicalized.
		I was worried about you for a minute.
stacy herbert ▲ ● ▼		Listen, it's projection.
		It's also, look, on the one side you have 90,000 overdose deaths last year in America.
		That's on the one side.
		On the other side, that's the same sort of thing.
		That's an abused person.
		That's somebody who's abused and needing their violent father to come smash somebody's head in for them.
		Needing a thug to beat somebody up or to remove their freedom, that's something psychologically wrong with you.
		And I think we're an abused population from an abusive system.
max keiser ▲ ● ▼		So what you're talking about there would be a mass psychosis.
stacy herbert ▲ ● ▼		Yeah, it's a psychological problem.
		What happened with Germany?
		Why did Germany go like that?
		They were humiliated, right?
		They were a humiliated population post-World War I.
		Well, we're a humiliated population as well here, and I think, you know, we have these two MSNBC versus Fox, and they're like pushing the two sides.
tim pool ▲ ● ▼		MSNBC's ratings are totally in the gutter now, a fraction of Fox's, but it's not just Fox, it's just I think there, even if you watch Fox, if you're getting like Tucker Carlson, you're getting a more discerning worldview, albeit far from perfect, but Tucker does have on opposition personalities.
		No one else does this.
		No.
		We do got to jump to Super Chats, though, and take some questions from the audience.
		So if you haven't already, smash the like button.
max keiser ▲ ● ▼		Super Chats!
stacy herbert ▲ ● ▼		Smash it!
tim pool ▲ ● ▼		Smash it!
		Super Chats!
		And go to TimCast.com, become a member.
		We'll have a bonus segment coming up there for members only after the show, so make sure to check it out.
		And like, share, and subscribe to this channel.
		Alright, Joe Howard says, I live in GA, not far from Athens.
		The gas went up like crazy already.
unidentified		Wow.
stacy herbert ▲ ● ▼		Yeah, well, we have to drive back tomorrow, so hopefully it'll stay pretty calm.
max keiser ▲ ● ▼		The tragedy is that the government claims that there's no inflation.
max keiser ▲ ● ▼		Because they are protecting the racket.
stacy herbert ▲ ● ▼		My plan is I have triple A. I have the plan that gives me a hundred mile tow.
		So, as long as we can make it to a hundred mile radius.
		And we do, we have enough to get us.
max keiser ▲ ● ▼		Assuming the guy in the triple A tow truck has any gas.
tim pool ▲ ● ▼		Gunn Griffin says, Tim, Razorfist the rageaholic said he wouldn't mind coming on your show.
		He is super knowledgeable on the communists infecting the Democrat Party going back to the 1950s.
		Would be great to have him on.
		Absolutely.
		Big fan of Razorfist.
		Would be great.
		Jack O'Neill says, Tim, are you aware there are baked-in ads for Robin Hood and Facebook on your podcast releases lately?
		It's not a good look.
		I am.
		It's the same as on YouTube.
		There's automatic ads.
stacy herbert ▲ ● ▼		Take it from them.
stacy herbert ▲ ● ▼		Take it.
tim pool ▲ ● ▼		I mean, my attitude is always like, look, if we do a whole show where we're like, Facebook is bad, and then they pay ad money to make us fund us in saying they're bad, I'm not worried about my audience being like, I heard what Tim had to say, but that ad from Facebook really convinced me.
		No, but look, on YouTube and on the podcast, we have like a general ad roll.
		Right, right.
		That's what it is.
		Maybe we can try and figure out something for members.
		The problem is people need to understand the members-only stuff is really, really expensive because we're paying the bandwidth costs for all of the TimCast.com stuff.
		So we're talking tens of thousands of dollars.
		Ads, they happen.
		Ads happen.
stacy herbert ▲ ● ▼		Yeah, ads happen.
tim pool ▲ ● ▼		That's a good logo.
tim pool ▲ ● ▼		I'm pretty confident in the mental fortitude of the people who listen to the show.
max keiser ▲ ● ▼		So yeah, this is the most mentally fortitudinous audience one can find.
tim pool ▲ ● ▼		I actually think that's true, though.
stacy herbert ▲ ● ▼		No joke.
stacy herbert ▲ ● ▼		You know, that story we started off with about the gasoline pipeline, the gas pipeline, it's just like, Who clicks on those freaking links that these scammers send?
unidentified		After so many decades, how do you do it?
tim pool ▲ ● ▼		Well, it's actually really simple.
		The hacker will take a USB with the virus on it, and they'll throw it in front of the door of the building.
		That's it.
		Employees, this has always been the go-to for... What?
		Absolutely.
stacy herbert ▲ ● ▼		You would pick up a USB key and it wouldn't?
tim pool ▲ ● ▼		I wouldn't because I understand OPSAC.
		So, you know, people have tried sending us disks or memory cards.
		The first thing, we have a rule here.
		If we ever get a package with a memory card in it, we office space it.
		You know what you see in office space?
ian crossland ▲ ● ▼		Sledgehammer.
unidentified		The broom where you stick.
tim pool ▲ ● ▼		You gotta be insane to put a foreign memory card in your machine.
		But what they used to do back in the day is, with floppy disks, they would just throw a floppy disk in front of the bank.
		And then somebody would pick it up.
		Oh, I wonder what's on it.
stacy herbert ▲ ● ▼		Virus.
tim pool ▲ ● ▼		Another thing is, there was a guy who told me that they would have a CD with viruses on it, and they would hand it out like a music CD.
		They'd be like, yo, yo, check out my tunes.
		Free music, free music.
		And people would be like, cool.
		And they'd put it in their machine and then compromised.
		So, people are trusting.
		But you gotta understand, too, it's really, really easy to do.
		Because if you read about social engineering, which is 99% of all hacks, it's not someone breaking the computer, it's someone tricking another person.
		I mean, it's extremely easy to embed a remote access tool into any kind of program.
		They even put it in PDF files.
		Someone can send you a PDF saying, like, here's the invoice, thanks for doing business with us.
		And what person's gonna, they're gonna be like, what's the invoice?
		And they're gonna open it.
		Boom, they got you.
stacy herbert ▲ ● ▼		I've received those.
		I never download it.
		Right.
		And it'll be from a pretend friend.
		We have that under our YouTube all the time.
		The reply, the scammers who look like you, they're the imposter one.
		But they can't because of the algorithm put here's our WhatsApp number.
		They have to do like, here's our WhatsApp hashtag slash what?
		And like somebody has called it, like somebody contacted us and I called the
		guy and he put, he was Nigerian, but he put on a fake American accent to sound
		like Max and he played a video of me, but he wouldn't get on the Jesus.
tim pool ▲ ● ▼		That's great.
		All right, we got Josh from Telegram.
		He says, Tim, look into crypto-based charity governance tokens.
		The actor who played Stan in The Office is starting one for actors.
		Maybe you can do one for animal surgeries or a 2A legal fund.
		P.S., can I get an Ian, is this graphene-related mug next?
unidentified		Wrong.
unidentified		Right.
ian crossland ▲ ● ▼		We were talking about graphene earlier.
		We're talking about the planned obsolescence of society and now the fiat overwhelmed coming
		up.
		And so basically they made our roads to break every eight years.
		And then we were just supposed to take out some money and pay up and then we'd get great
		jobs.
		But now the interest is so high we can't afford to build it back.
		And we need something like a new material.
stacy herbert ▲ ● ▼		Build back better.
ian crossland ▲ ● ▼		Plastic's not good enough.
		Steel's not good enough.
		Copper's not good enough.
		Wood's not good enough.
		We need graphene.
tim pool ▲ ● ▼		All right.
max keiser ▲ ● ▼		But don't create a token around it.
stacy herbert ▲ ● ▼		Build back better with graphene.
tim pool ▲ ● ▼		Eastside Tony says, Tim, call Joe Rogan and get Max and Stacey on his show.
tim pool ▲ ● ▼		And then five exclamation points.
stacy herbert ▲ ● ▼		Definitely.
tim pool ▲ ● ▼		Sup Max and Stacey.
		Defend the network.
		Bitcoin.
max keiser ▲ ● ▼		Get Joe on the line right now.
		Joe!
		How you been, buddy?
		How's Austin?
tim pool ▲ ● ▼		I'm with Tim right now!
max keiser ▲ ● ▼		Say hello!
tim pool ▲ ● ▼		You guys have never been on Joe's show?
max keiser ▲ ● ▼		No.
stacy herbert ▲ ● ▼		That surprises me.
tim pool ▲ ● ▼		Actually, it does surprise me.
tim pool ▲ ● ▼		But I definitely can't just call Joe Rogan and be like, here's, you know, your recommendations for the week.
max keiser ▲ ● ▼		We would gladly do TimCast, but that Joe fella, I'm not so sure.
max keiser ▲ ● ▼		You know, I don't know.
tim pool ▲ ● ▼		Yeah, who needs, you know, 200 million?
stacy herbert ▲ ● ▼		Yeah, but he's has his audience declined since he went to Spotify like we we wanted to watch He interviewed somebody recently or I was like, oh, I'm gonna go to YouTube.
		I googled it and it was like only clips I was like, oh, that sucks.
		I'm not gonna sign up for Spotify.
unidentified		I already have so many Free on Spotify though It is?
tim pool ▲ ● ▼		Oh, but you need an account, don't you?
unidentified		Yeah.
tim pool ▲ ● ▼		You need an account?
ian crossland ▲ ● ▼		I just made it.
		Two days ago, three days ago, he had the guy talking about aliens on from the government.
		Was that the guy you were talking about?
stacy herbert ▲ ● ▼		No, no.
stacy herbert ▲ ● ▼		It was somebody like Elon or something.
tim pool ▲ ● ▼		I definitely think his views have probably gone down a whole lot.
max keiser ▲ ● ▼		He was like Howard Stern.
max keiser ▲ ● ▼		You know, he went over to Sirius and he just like lost his relevancy and cachet as a public figure.
tim pool ▲ ● ▼		Joe's a cool guy.
		He's a friend.
		And I'll say this, when he was on iTunes, iTunes being the biggest podcast platform, when you're number one, a regular person who's never listened to a podcast before opens up the podcast app and your face pops right up, that is real estate you cannot pay for.
		And so Spotify paid for it.
		They basically gave Joe enough money to where he was happy doing his show.
		But also I think, you know, I wonder too if Does Joe need to be the biggest podcast in the world?
		I mean, I mean this personally, because I'm wondering, I can't read the guy's mind, and I'm sure, you know, you know, I could probably just ask him about it, but at a certain point, you don't want to be the big, the biggest, you know, player in the room, because he keeps getting attacked by the media.
		I'm sure he's happy to be like, dude, I just want to hang out with my friends and talk about things I find interesting without being harassed by these people all the time.
stacy herbert ▲ ● ▼		Yeah, but those paid walled, you know, those You know, this whole motto of Washington Post and New York Times and this breakdown that's happened since 2016 of like attacks on alt media and that we need trusted sources, authoritative sources.
		And then you go to like the Washington Post will be like, urgent thing about election safety and security and all this sort of stuff.
		Democracy dies in darkness.
		Here, you have to subscribe.
		And you're like, OK, well, I guess I don't need to hear the story, right?
		People don't, you know, it just stops you dead in your tracks because you just don't want to fill in the details for yet another.
unidentified		All right.
tim pool ▲ ● ▼		I'm going to answer this before I read it.
		I'm just going to say this word real quick.
		Bitcoin.
		OK, now I'm going to read it.
		Rudy C. Winslow says, Max, Stacey, I want to dump fifteen hundred dollars into crypto.
		Which one should I invest in?
max keiser ▲ ● ▼		All right.
		Now, this is where that thing about the caveat about financial advice comes in.
		Like, I wouldn't tell you where to put that money because I would be giving financial advice.
		I will say that this is what I believe is the story is with Bitcoin.
		And this is what I think about the douche coins.
		And then you make your own decision.
		I'm not going to tell you what to do because that would be giving you financial advice.
		But I'll set the table and I'll tell you my thoughts on here and my thoughts on here.
		But it's up to you to make your own decision.
tim pool ▲ ● ▼		I everything Max said I'm saying as well. So you can't you can't ask somebody else what to do whatever go to casinos
		I can't stand it people be like, what should I bet? I'm like, oh, I'm not playing that game, right?
		Right, right, right. No way but then sometimes like I'll be like dude bet on this one right now and then they lose the
		money I'm like, oh, I'm not patting back
		Like I made you do it.
		I can't do it.
max keiser ▲ ● ▼		You just dollar cost average into Bitcoin and set it and forget it.
max keiser ▲ ● ▼		And don't fall into the trap of trying to be a professional trader and getting into the douche coins.
stacy herbert ▲ ● ▼		Plus Uncle Joe will be sending us more money soon.
stacy herbert ▲ ● ▼		Don't worry.
max keiser ▲ ● ▼		Uncle Joe, the money's coming.
max keiser ▲ ● ▼		From Uncle Joe.
tim pool ▲ ● ▼		You guys are gonna love this. M says, uh, SHIB got listed on Binance today and Binance ran out of
		ETH deposit addresses because so many people wanted it. The coin is top 20 on coin market
		cap right now, up 2000% past week. Don't forget ever, SHIB owner needs a leash.
unidentified		Right.
max keiser ▲ ● ▼		That's OK.
max keiser ▲ ● ▼		Finance is a casino operator.
tim pool ▲ ● ▼		Yeah.
max keiser ▲ ● ▼		And so is Coinbase.
		And so are these other exchanges.
		They are casino operators and they list.
		It's like listing the number seven on a roulette wheel as a thing that you can dump money on.
		That's what this is.
		That's nothing to do with anything.
tim pool ▲ ● ▼		And you know people do.
		And I've actually started blocking people on Twitter.
		I'll tweet something like, totally nonsensical, you know, I bought it, I made a cheeseburger today and I put cheddar on it and at the top, the immediate comment is, this coin is going to the moon!
unidentified		Right.
tim pool ▲ ● ▼		And I'm like, get out of here!
stacy herbert ▲ ● ▼		So my theory is as well that, you know, especially with guys, I think a lot of guys use it as a bonding to get rekt together.
		Like, you know, that TV series Jackass or something.
		They like to just like, you know, you ever see those videos for Darwin Award?
		It's always guys, right?
		Young guys doing something really stupid.
		And I think I think they genuinely if you've ever been in the the troll boxes on like BTC e which is a Old exchange that is now dead.
		It was a whole bunch of guys.
		It was like it was a bunch of money.
		Yeah Yeah, they were there.
		They were like dude.
		I just lost my house I had I had Bitcoin on yeah, and then I went But um, I think they do it for the lulz just like remember back in the days when I and you know anonymous existed and they were all the the lulz truck what was it lulz
tim pool ▲ ● ▼		Yeah.
stacy herbert ▲ ● ▼		And then they all got thrown in jail, right?
tim pool ▲ ● ▼		Well, they had a traitor.
stacy herbert ▲ ● ▼		Yeah.
		And then, yeah.
		And then they were like, oh, this isn't fun anymore.
max keiser ▲ ● ▼		Right.
		Exactly.
		And the thing is that everyone's having a lot of fun and then they get wrecked and then they're not as fun anymore.
tim pool ▲ ● ▼		It's like Wall Street.
max keiser ▲ ● ▼		Then they lash out.
tim pool ▲ ● ▼		Have you ever seen Wall Street bets?
max keiser ▲ ● ▼		What about it?
tim pool ▲ ● ▼		Like how they would post like, I just put you a hundred grand into this ridiculous stock.
		And it's like zero.
		And they're like, well, there it goes.
unidentified		Yeah.
unidentified		Yeah.
max keiser ▲ ● ▼		Well, that's the thing.
stacy herbert ▲ ● ▼		Dave Portnoy did that too.
max keiser ▲ ● ▼		Dave Portnoy.
max keiser ▲ ● ▼		Interesting phenomenon that they should not have sold.
unidentified		What do you do?
tim pool ▲ ● ▼		He's $700,000 loss on GameStop stock meme stocks.
ian crossland ▲ ● ▼		Oh, because he sold.
tim pool ▲ ● ▼		Yeah.
max keiser ▲ ● ▼		He's a classic example of somebody who confuses brains with a bull market.
		Right.
		So he stepped into a bull market.
		He's making some fast money.
		And you start to think that it's because you're smart.
		Then he loses.
		He the Winklevoss talked him into Bitcoin plus a douche coin.
		He lost quick.
		He sold out, lost money.
		And then he tries to make it up by going into DoggyCoin to make it up because now he's a gambler.
		Now he's trying to make up and get it back quick.
tim pool ▲ ● ▼		You know what my favorite thing is?
		When Bitcoin hit $20K for the first time, and there were these stories emerging where people were like, I mortgaged my home to buy Bitcoin.
		And then when it tanked down to like $10, they panic sold.
		And if they held on to it, they'd have cleared everything.
max keiser ▲ ● ▼		Right.
		Leverage is always a bad idea.
		There's no point going into leverage.
		I mean, I realize I did mention I collateralized my gold and silver to buy Bitcoin, but I did so in a moderate way, and I am a former professional Wall Streeter, so I do have some experience.
tim pool ▲ ● ▼		I got one for you.
		Group B says, Tim, is this the guy that famously said, have fun staying poor, that you so much like to say?
		Much wow.
max keiser ▲ ● ▼		OK, that is not me.
max keiser ▲ ● ▼		That is Udi.
stacy herbert ▲ ● ▼		Wertheimer.
max keiser ▲ ● ▼		Wertheimer.
stacy herbert ▲ ● ▼		He's probably, I probably said his name wrong and now that's going to become a meme.
stacy herbert ▲ ● ▼		That's the thing.
max keiser ▲ ● ▼		Yeah, yeah, yeah.
stacy herbert ▲ ● ▼		I created a meme by, there's a famous Bitcoin meme artist named Greg Zage.
		And I thought, I was like talking about him on our live stream.
		And I was like, yeah, there's this guy Greg Zage.
		And it's like, their meme is like, no, it's Greg.
		And I keep on saying it over and over.
		It's like, no, my name's Greg.
max keiser ▲ ● ▼		Yeah, yeah, yeah.
tim pool ▲ ● ▼		All right.
		Amalashok says, Tim, here's $10 earmarked for a limiter compressor plug-in for your soundboard to keep your more dynamic guests from blowing up ears.
		How about this?
		What?
		We need a professional sound person to come in and just get us set up.
		We have a new system coming in soon, and we need an AV pro who can help us set up the new system.
		And it's going to have to be over a weekend.
		Probably should be pretty easy to plug everything back in.
		And yeah, there you go.
max keiser ▲ ● ▼		So send us an email.
max keiser ▲ ● ▼		I have a suggestion for a guest.
tim pool ▲ ● ▼		Yeah?
max keiser ▲ ● ▼		Jack Mollers.
tim pool ▲ ● ▼		Who's that?
max keiser ▲ ● ▼		He runs InStrike and Zap, which is a second layer Bitcoin application.
		Just came back from, I think it was Ecuador.
		And it's now the number one finance... El Salvador.
		El Salvador.
		The number one finance app in that country.
		And it's he's changing lives.
		He's changing the world.
		And he's a Bitcoiner.
		He's a young guy.
		I think he's a millennial.
unidentified		And he could even be Z. He's very young.
max keiser ▲ ● ▼		He's just super dynamic.
		And he built this company from scratch.
		And it's it's as I said, it's second layer Bitcoin.
		It's like we're having a conversation about Bitcoin, but there's already there's already something going on that's well beyond it.
		And that's lightning and lightning payments.
		Jack Mallers is the dude.
		He's the guy.
		And he would be an excellent guest, I really do believe.
stacy herbert ▲ ● ▼		I think so, too.
unidentified		All right.
tim pool ▲ ● ▼		So Sam T says China has Bitcoin mining superiority by a large margin.
tim pool ▲ ● ▼		What does the future look like for Bitcoin mining?
max keiser ▲ ● ▼		All right.
		That's not true.
		First of all, mining is migrating out of China.
		A lot of it's coming to America, particularly in Texas, because it's all about cost of energy and you get a lot of cheap energy in China, in Texas.
		Number two, a lot of the mining in China is pools and that pools are from all over the world.
		So that's a mistake.
		That's kind of a misnomer.
		That's a myth.
ian crossland ▲ ● ▼		Most of their outsourcing computing power.
max keiser ▲ ● ▼		Yeah, but it's gone in different countries and it's leaving China.
		It's moving to Texas and Texas is becoming a mining powerhouse.
		And it's part of the beauty of Bitcoin is what's called game theory is baked into the protocol.
		You've got these three major elements to this game theory.
		You get the miners, the nodes and the developers.
		And they're all working together, but also competing with each other.
		And as a result, you have maximum distribution or decentralization.
		And everyone is incentivized to keep it decentralized while maintaining this protocol that emits coins every 10 minutes and offers this way out of the system.
		The number one thing about Bitcoin that I would emphasize is that it separates state from money.
		We've never had that ever in the history of the world.
		All money has been controlled in some degree by the church or the state or some central authority or a government.
		This is the first time we have actual hard money that's completely separate from the state and you get individual sovereignty.
		So for all the people that are distressed about the riots and the inflation and the disunity going on, with Bitcoin you have individual sovereignty.
		You have mobility, you have agility, and you have community.
		And that's the most important thing about it.
		Not price goes up or number goes up.
		That's not really the most important thing about it.
unidentified		All right.
tim pool ▲ ● ▼		So Charlie2799 says, what's the best way to buy crypto?
max keiser ▲ ● ▼		Right.
		I use SWAN Bitcoin.
		Can I do my ad for Swan Bitcoin?
		Swan Bitcoin.
		Go to swanbitcoin.com forward slash orange pill.
		We get $10 free in Bitcoin if you register.
		And what you do is with this company, it's run by Bitcoin OGs and they are dedicated to Bitcoin maximalism.
		And it's very easy to set up a dollar cost averaging.
		As a matter of fact, I can create swanbitcoin.com forward slash Tim Pool in a heartbeat.
		And, you know, you would get immediately, it would be something that would, an easy way for folks to get involved.
tim pool ▲ ● ▼		Yeah, we should do it.
max keiser ▲ ● ▼		Let's do it.
tim pool ▲ ● ▼		People would like send Bitcoin to the show or whatever.
max keiser ▲ ● ▼		They would sign up and it's a business arrangement so that your enterprise will get an affiliate link.
		So this affiliate link would benefit this enterprise.
		They're an excellent company, Bitcoin only, and it's set up.
		As far as I know, it's already set up.
		It's already set up, Tim, as far as I know.
		It's already up and running.
		The thing is happening in real time, as I understand it.
		If it's not, then why not, Corey?
		I told you to get it ready, Corey.
		If it's not up right now, then you freaking blew it, Corey.
lydia smith ▲ ● ▼		Darn it, Corey.
tim pool ▲ ● ▼		Ian Spooner says, can you talk about Ripple being sued by the SEC and the XRP ledger?
max keiser ▲ ● ▼		Yes, I can.
		Ripple is a scam.
		It's a douche coin.
		But the thing about it is that they... This is the problem with a lot of these douche coins is that because they have pre-sale and they are out there with bags of cash, they can hire really great lawyers.
		So they've taken on the SEC and the SEC is suing them for legitimate reasons.
		But they've got such a cadre of very, very high-priced lawyers that it's going into the courts.
		It's going into the battle.
		They, you know, it's hard.
		As we said before, the regulators are captured.
		So in my view, if the SEC, I'm not convinced that they are not simply looking to get a cut from that.
stacy herbert ▲ ● ▼		The guys from the Ripple Foundation or whatever, I mean, it's so dodgy, but they were selling, they were dumping like billions of dollars a year onto bag holders.
stacy herbert ▲ ● ▼		Yeah.
max keiser ▲ ● ▼		Then again, it's an exit scam.
stacy herbert ▲ ● ▼		But in a way, you know, the bag holders keep pressing that link in that email, you know, here, download this PDF.
max keiser ▲ ● ▼		These douche coins, because they have pre-mined coins and it's centralized, they can buy, they buy Twitter trolls.
		So if you mention that on Twitter, you'll get 10,000 trolls will show up.
		Those are all paid trolls who are working for a dollar a day.
		You see that with all the douche coins.
stacy herbert ▲ ● ▼		All right.
max keiser ▲ ● ▼		But Bitcoin has no central centralization.
		There's no PR department.
		There's nobody behind it.
		There's pushing it.
		It just it exists on its own merit for the obvious reasons of bestowing individual sovereignty in a time when that is desperately needed.
		That's the important thing about it.
		Number go up is great, but having individual sovereignty is better than anything else.
		particularly in the circumstances that we're describing today, where our own
		sovereign nation is crumbling before our very eyes. We need to start all over
		again. The Millennials and the Gen Z, with Bitcoin as their Bitcoin standard, will
		be able to remake this country, take the best of the Constitution, the best of the
		Bill of Rights, the best of the Declaration of Independence, and build
unidentified		and start from scratch. Start from scratch.
max keiser ▲ ● ▼		Build it up all over again.
		America's an idea.
		It's not a place.
unidentified		It's an idea.
max keiser ▲ ● ▼		Jim, you can do it.
		You can help.
		Your generation is the savior.
tim pool ▲ ● ▼		But Gen Z and millennials are split pretty heavily.
max keiser ▲ ● ▼		They need leadership, Tim.
tim pool ▲ ● ▼		That's where you come in.
max keiser ▲ ● ▼		You're the leader.
		You've got the beanie.
		The beanie says it all.
tim pool ▲ ● ▼		In a thousand years, there's no crowns.
tim pool ▲ ● ▼		It's just beanies.
unidentified		A beanie for all!
tim pool ▲ ● ▼		Make beanies great again!
		I think I know the answer to this, but this one's for you.
		Dollar used to have a gold standard.
		What does Bitcoin have?
		What creates its value?
		How is all currency not notional like the dollar?
max keiser ▲ ● ▼		Right, two answers to that.
		First of all, understand that what is money?
		That's a fundamental question.
		What is money?
		What is money?
tim pool ▲ ● ▼		It's a universal trade medium.
max keiser ▲ ● ▼		How does it become money?
max keiser ▲ ● ▼		Money becomes money because people use it as money.
tim pool ▲ ● ▼		Confidence.
max keiser ▲ ● ▼		So thousands of years after using beads and shells and different things, eventually gold became a universal money.
		It became the most trusted money.
		It became money because it's portable, it's divisible, it's desirable.
		Easy to print.
		No, you can't print it.
unidentified		Printable.
tim pool ▲ ● ▼		No, no, no.
tim pool ▲ ● ▼		You could stamp it.
ian crossland ▲ ● ▼		Cut it.
max keiser ▲ ● ▼		Well, it's verifiable.
		It's verifiable.
		And so it becomes money.
		Central banks are big owners of gold and gold is a tier one money.
		It's a base layer money.
		So, now, what makes fiat money not good money?
		Because it's easier to counterfeit.
		It's not backed by anything.
		It's just paper.
		It's not base layer money.
		As we said, it's backed by violence.
		It doesn't have any intrinsic.
		It doesn't have any value.
		It doesn't have any backing to it.
		The key, though, is that it's not scarce.
unidentified		Right.
max keiser ▲ ● ▼		So fiat money can be printed, right?
		That's the biggest problem.
		And that's the problem we're having today is that even though it's backed by violence or backed by the government, you can print it.
		Okay, what about Bitcoin?
		Bitcoin is absolutely scarce.
		So it's better than gold in that respect, because gold is deflation is relatively scarce, just deflationary.
		It's more divisible, it's more portable.
		And here's the thing about Bitcoin, which you don't have with gold, as you point out, you need to stamp gold to make sure it's verifiable that that's gold.
		With Bitcoin, the transaction is the verification.
		It's self verifying.
		You don't need a third party.
		You don't need to pay somebody to verify that it's actually gold.
		It's self-verifying.
stacy herbert ▲ ● ▼		Plus it transmits value across time and space.
max keiser ▲ ● ▼		Right.
		And then you get into the energy.
		It converts energy into the hardest money, that is to say, the scarcest money we've ever known as humans.
		So it's backed essentially by energy.
		So energy is converted into the hard money.
		And then when you enter the hard money universe, you then enter what we call the cosmic consciousness.
		Or you're entering the global unconscious, which is what we do on the Orange Pill Podcast.
		We explore the dimensions of Bitcoin that we're just now understanding in terms of its promotion of peace, love, and understanding.
		It's like the world with a soundtrack from Elvis Costello.
		It's like love rules all.
		It's the beginning of the Aquarius Age.
		Talk to me!
		Talk to me, Tim!
		Let me know what's on your mind!
tim pool ▲ ● ▼		The problem with this question, I think the easiest way to answer it for Hunky Dory is he says, the dollar used to have the gold standard.
		What does Bitcoin have?
		What did the gold standard have?
		What you misunderstand is that Bitcoin is gold.
max keiser ▲ ● ▼		Exactly.
tim pool ▲ ● ▼		If you're asking, what does the dollar have?
		Well, then maybe we can we can, you know, what is what?
		There's no what's what's what's all gold.
stacy herbert ▲ ● ▼		All value derives from human consciousness.
tim pool ▲ ● ▼		Confidence.
stacy herbert ▲ ● ▼		Consciousness.
max keiser ▲ ● ▼		No, no, no.
tim pool ▲ ● ▼		It's confidence.
max keiser ▲ ● ▼		Well, it's all it is confidence in that people we know that money becomes money if it's used people use it as money.
tim pool ▲ ● ▼		And I'm willing to take it.
max keiser ▲ ● ▼		I believe I can get the thing about it is that it can take the value into the future.
		The reason why people don't use chicken feathers or sand or hand puppets or whatever is money is because it degrades over time.
		It has a lot of entropy, which is the physical notion about it.
		Gold has very, very little entropy.
		Thousands of years later, you can pick the gold.
		So, you know, you would exchange gold as money now because you know that a year from now, someone will accept it in exchange for something else.
		Whereas fiat money, you know that a year from now, it'll lose purchasing power.
		And no fiat money in 300 years has avoided Trading is zero.
		Not even the British pound has lost ninety nine and a half percent of its purchasing power.
		They all go to zero over 300 years.
		Every single one has gone to zero.
		Tim, is that what you're going to put your wealth and your fortune into something like that?
tim pool ▲ ● ▼		I will also point out gold actually can be it can be used.
tim pool ▲ ● ▼		Gold is used.
max keiser ▲ ● ▼		That's not necessarily a good idea because to the extent that gold has utility value.
		And this is where I like I have a major disagreement with Peter Schiff.
		is that it actually detracts from its use as money.
		Because what you want from your money is pure price discovery based on people making transactions in terms of their valuation of what it's worth for them at the moment.
		If you start to say that gold has use as electronics, you start to infuse that conversation with an evaluation outside of what we're doing as person-to-person.
tim pool ▲ ● ▼		The problem is inverted.
		So we need gold for certain things and computers and, you know, back in the day with memory cards and stuff like that.
		And because gold was used as a store of value, it became very difficult to get.
		It made things more expensive than it needed to be because there was a function for it.
		But I will tell you this.
		You can't deny that the core function of fiat currency does exist.
		And then when all is said and done, there's a there's a real good use for the paper money.
max keiser ▲ ● ▼		What kind of nonsense is that?
tim pool ▲ ● ▼		Toilet paper.
max keiser ▲ ● ▼		Oh, right.
max keiser ▲ ● ▼		I knew that there was a point here.
stacy herbert ▲ ● ▼		Tim showed us a secret bunker filled with toilet tissue.
max keiser ▲ ● ▼		Yeah, this place is amazing.
tim pool ▲ ● ▼		It's just a warehouse of toilet paper.
max keiser ▲ ● ▼		It's a labyrinth of toilet paper.
stacy herbert ▲ ● ▼		You know, I came up with a really good idea for Money Spinner is like finding headphones to go with for women.
		Yes, because it messes with your hair.
		Like, I wanted to look like a female Clint Eastwood.
		I got the poncho, even though that's probably cultural appropriation, right?
unidentified		Not with that color.
stacy herbert ▲ ● ▼		But I got it in Mexico City.
stacy herbert ▲ ● ▼		And the thing is, but my hair gets flattened, right?
unidentified		Like, how do you deal with that?
unidentified		I don't know.
ian crossland ▲ ● ▼		How do you deal with the volume at the top?
tim pool ▲ ● ▼		You know what else I like about the value of Bitcoin?
ian crossland ▲ ● ▼		whenever you want.
stacy herbert ▲ ● ▼		So like, you know, how do you deal with the volume at the top?
ian crossland ▲ ● ▼		That.
		You know what else I like about the value of Bitcoin?
		I want to get back to your hair.
stacy herbert ▲ ● ▼		Yeah.
ian crossland ▲ ● ▼		I want to get back to the smart contracts.
		The opportunity costs gained by removing someone from the equation.
		So right now you send your dollar to the electric company, they have to hire someone to go turn the knobs and turn the electricity on for you.
		With Bitcoin, you send the Bitcoin to the electric company, the smart contract tells the computer program to activate.
		So you can remove that actor from the cost.
tim pool ▲ ● ▼		You can build smart contracts on Bitcoin.
		It's really annoying when you're trying to set up electricity at your house, and I've got to call the guy, and they've got to send somebody out, and I've got to pay them, and they've got to confirm the payment.
		With Bitcoin, it's like, I send the Bitcoin, ding!
		It just turns on instantly.
max keiser ▲ ● ▼		It disintermediates layers and layers of bureaucracy.
ian crossland ▲ ● ▼		Smart contracts.
max keiser ▲ ● ▼		Think about the real estate business.
stacy herbert ▲ ● ▼		Smart contracts and electricity?
stacy herbert ▲ ● ▼		Do you have that?
tim pool ▲ ● ▼		Yes, yes, yes, so right. So how do you turn the smart turning electricity down is one example when you get a new
		apartment or house?
		Yeah, you got to call the electric company. Yeah Give them your information.
		Then you got to send a payment.
stacy herbert ▲ ● ▼		And then they keep changing their name too.
tim pool ▲ ● ▼		Imagine if instead, you walk to your house, you have a new house, you walk inside and there's your meter and it says, a barcode, a scan test.
stacy herbert ▲ ● ▼		Oh yeah, QR code.
tim pool ▲ ● ▼		It says send to this address to turn on power and you just scan it and then the lights turn on instantly.
ian crossland ▲ ● ▼		They call it trustless because you don't have to trust that someone's going to do the thing for you.
tim pool ▲ ● ▼		And so as long as money comes into this address, Power equals, yes, it's that simple.
tim pool ▲ ● ▼		No more calling, no more verification, just boom.
stacy herbert ▲ ● ▼		By the way, you know, Bitcoin world, Bitcoin Twitter is like watching this right now.
tim pool ▲ ● ▼		Oh cool, shout out.
stacy herbert ▲ ● ▼		I'm sure they're gonna have an answer for my hair.
ian crossland ▲ ● ▼		Oh yeah, cold water.
tim pool ▲ ● ▼		All right, we got Colton Lindsey says, since January I've been dumping any fiat that I have into Bitcoin and leveraging it at 60 to 40 loan to volume ratio to pay my bills each month.
		I know this is ill-advised, but Bitcoin is untouchable.
		Love, Orange Bill.
max keiser ▲ ● ▼		Oh yeah, I love orange pill.
stacy herbert ▲ ● ▼		Go to youtube.com forward slash orange pill and subscribe.
		Go watch us.
		It's next level.
		A lot of people have already taken the red pill, but what happens next?
max keiser ▲ ● ▼		After the red pill is the orange pill.
tim pool ▲ ● ▼		We'll do a couple more here.
max keiser ▲ ● ▼		It's cosmic love.
tim pool ▲ ● ▼		Pims the Great says, I have a 401k through my company.
tim pool ▲ ● ▼		How can I reinvest it?
max keiser ▲ ● ▼		OK, so again, bordering into financial advice, right, which I don't which I don't offer.
		But I will say that if you have a 401k or a retirement account like this, it is possible to to get into Bitcoin with it.
		And a simple search on a search engine will immediately take you to those ideas.
unidentified		OK.
max keiser ▲ ● ▼		But it is possible.
		I'll say that.
		So you can you can answer that question in two minutes.
		Just answer 401k plus Bitcoin and you'll get a lot of good answers.
unidentified		I also have to say F you, Greg.
max keiser ▲ ● ▼		Oh, yeah.
max keiser ▲ ● ▼		Greg Grazage.
stacy herbert ▲ ● ▼		Yeah.
stacy herbert ▲ ● ▼		Grazage.
max keiser ▲ ● ▼		Grazage.
stacy herbert ▲ ● ▼		F you.
max keiser ▲ ● ▼		We'll say yellow pop.
		There's some yellow cat pop guy.
		Yellow pop.
tim pool ▲ ● ▼		All right, so we'll take one more.
tim pool ▲ ● ▼		McCatton says, Google just deleted my super chat saying if net goes down, Bitcoin equals zero.
max keiser ▲ ● ▼		Wrong. It's already carried on satellites.
		You don't need the Internet. Don't need electricity.
		You have nodes, wireless, wireless nodes.
		People are doing wireless Bitcoin transactions outside of all financial grids.
tim pool ▲ ● ▼		I don't think the Internet could ever go down at this point.
stacy herbert ▲ ● ▼		No, of course.
		like what happens is like remember he tried it he turned off the internet for like four or five days and then all
		the industrialists of
max keiser ▲ ● ▼		Actually, it's the only place your wealth would still be preserved within the Bitcoin system
		And as long as there's two computers somewhere in the world, they can do the mining adjustment adjust down the mine blah
		blah blah It never goes away.
		It never goes away.
tim pool ▲ ● ▼		If you've ever been on a cruise ship, the first thing people tell you to do is, well, before pandemic, is to download these apps.
max keiser ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		Or if you go to like Burning Man, I think they do this, where it's a Bluetooth mesh network.
unidentified		Yeah, yeah, yeah.
tim pool ▲ ● ▼		So it's a mesh network.
tim pool ▲ ● ▼		Everybody's phones are on and they're all talking to each other.
max keiser ▲ ● ▼		Yeah, yeah.
stacy herbert ▲ ● ▼		So that's interesting they do that on a cruise ship.
stacy herbert ▲ ● ▼		I didn't know that.
unidentified		Yeah.
tim pool ▲ ● ▼		So I went on a cruise several years ago and they were like download.
tim pool ▲ ● ▼		I can't remember what the app was called.
stacy herbert ▲ ● ▼		That's weird.
		Like what sort of cruise?
		Was it a bunch of old people?
tim pool ▲ ● ▼		No, no.
max keiser ▲ ● ▼		It was like the richest people in the world.
unidentified		Really?
tim pool ▲ ● ▼		Yeah, it was called a bunch of super rich people.
		I think it was called Summit at Sea and it was like 10 grand to go on the cruise.
		Yeah.
		And like the Disney people wanted me to be there.
		I remember this.
		like hanging out with like Lady Gaga's manager or something.
		But everybody had an app and you could send a message.
		I could send a message to Ian and my phone would send the message through your
		phone, Max, but you couldn't see it.
max keiser ▲ ● ▼		Right.
tim pool ▲ ● ▼		And then it would eventually find.
max keiser ▲ ● ▼		That's what you can do with Bitcoin.
max keiser ▲ ● ▼		And they do it in Venezuela right now on Meshnet.
tim pool ▲ ● ▼		So here's what happened in Egypt when Mubarak tried shutting down the internet.
stacy herbert ▲ ● ▼		Yeah.
tim pool ▲ ● ▼		A group called Telecomics, hackers, some of these people.
stacy herbert ▲ ● ▼		I remember this.
stacy herbert ▲ ● ▼		We covered it.
tim pool ▲ ● ▼		Yeah.
		So they started doing something called Operation White Fax, where they spammed
		fax machines in Egypt with instructions on how to create dial-up internet.
		And so what people would do is, once the internet was down, take a phone line, plug it into their computer's, you know, old-school router, when it sneezes, and then it would call a certain phone number and give them dial-up access internet.
		Because you can't shut it down.
max keiser ▲ ● ▼		Now, by the way, I brought Plucky.
tim pool ▲ ● ▼		Who's Plucky?
max keiser ▲ ● ▼		Plucky is the world's most famous economist.
lydia smith ▲ ● ▼		Oh.
unidentified		Hello, I'm Plucky!
		Uh-oh, here comes Baxter.
		Tim, I'm the most famous economist in the world.
stacy herbert ▲ ● ▼		You can ask me any question.
ian crossland ▲ ● ▼		Can we repeal the Federal Reserve Act?
unidentified		Sure, man.
		So, Tim, I'm talking to you.
		Any question in the world, I know I'm Plucky, the world's foremost economist.
tim pool ▲ ● ▼		I don't know what to ask him!
stacy herbert ▲ ● ▼		Fine, Tim!
unidentified		I come all the way here, and you make me do show!
		I come on, and I'm starving to death, and you don't have any questions for me!
		What kind of show you got over here, Ian?
		Ian!
ian crossland ▲ ● ▼		What would be the first step to repeal the Federal Reserve Act, Plucky?
stacy herbert ▲ ● ▼		They should just fire themselves!
stacy herbert ▲ ● ▼		Fire themselves!
unidentified		Bitcoin fixes it!
max keiser ▲ ● ▼		Alright, Plucky, I think we've heard enough.
tim pool ▲ ● ▼		All right, everybody.
		We're going to get more rowdy in the bonus segment coming up over at TimCast.com in just about an hour.
		I will figure it out.
		So make sure you subscribe to this channel, smash the like button, share the show with your friends.
		You can follow this show at Facebook.com slash TimCast IRL.
		Share the clips from the show to help spread the word.
		And we're also on Instagram at TimCast IRL.
max keiser ▲ ● ▼		What about your new affinity link for SwampBitcoin.com forward slash TimCast?
tim pool ▲ ● ▼		There you go.
tim pool ▲ ● ▼		Do I got to sign up for that or something?
unidentified		You're done.
		It's done.
		All right, great.
		Max, promote your podcast.
stacy herbert ▲ ● ▼		Turn to me, because Max doesn't know that sort of stuff.
		It's youtube.com forward slash orange pill.
		Max doesn't know we have a show.
		He just thinks we're sitting in the living room and talking.
		So youtube.com forward slash orange pill or join our telegram group t.me forward slash orange pill and you'll find relentless optimism there.
		No pooh coins.
tim pool ▲ ● ▼		Ian.
ian crossland ▲ ● ▼		Yeah, you can follow me across the internet.
ian crossland ▲ ● ▼		Thanks for coming guys.
stacy herbert ▲ ● ▼		This is fun.
stacy herbert ▲ ● ▼		And now we're now we're doing an only only fans with you.
lydia smith ▲ ● ▼		Yeah, yeah, that's right.
unidentified		That's right. That's next. Yes, you can. Oh, gosh. Max, finally. Max has been waiting.
unidentified		He's been waiting. Okay. Okay. Oh, my gosh.
lydia smith ▲ ● ▼		Okay.
		I'm really excited for this bonus segment and I have to agree with Stacey that these headphones are absolutely sexist.
		They flatten your hair.
		There's nothing you can do about it.
		It's a pain in the neck.
		You can follow me at Sarah Patchlitz on Twitter.
tim pool ▲ ● ▼		We will see you all over at TimCast.com.
tim pool ▲ ● ▼		Become a member and we'll see you all there.

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