Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to this week in bitcoin oh yeah today is March the 27th 2020 strong hand long term thinking bitcoin is the next Bitcoin in motion now these dudes are in motion there they they're not shut down they're doing things compete don't complain conviction have some conviction in this time there are a lot of people that don't have conviction these days I am offended by selling hello my elite it is this week in Bitcoin time again if you've got questions I got answers typing bitcoinmeister do a super chat I'll ask these do some questions for you but we got an all-star panel coming back today Neil would fine makes his return Gabriel Devine is in the house once again many times he's been here and yon Pritzker of Swan Bitcoin oh yeah he makes his debut alright dudes let's we know what's the current events are we're gonna get into that let's talk about a yawn tweet that was out there let me read you what it is Dan yawn will comment on it oh boy what happens when you cut production by shutting down an economy and then increasing the supply of money asking for a friend who failed economics 101 oh so all about well you know I'm just trying to understand what is okay look I understand we're in a serious economic crisis here right and it's almost like we expect the people in charge to do something we had they have to do something right they have to rescue us now we're not talking about how we got here we're definitely not asking those questions and it's clear that we're going to have a lot of economic stimulus right now and we were already seeing it you know six trillion dollars ten trillion dollars it'll it'll keep going up the number is arbitrary I mean it's pretty much we're gonna stimulate until we fix it right so the question I ask is how do you know what the right number is and how are we going to deal with this idea that I mean yes they're adding more quote-unquote stimulus into the economy but at the same time the production shut down there's no you know stuffs not being made I mean I have friends and small businesses my sister owns a cell phone store trucking business all this stuff is getting affected so things are shut down and yet the quantity of money is increasing I mean to me it sounds like recipe for some pretty disastrous inflation down the line and you know I'm not looking forward to that now what's it mean for dick coin in your opinion I think it means the number goes up I mean look it's very simple right there's a certain amount of dollars in existence and there's certain amounts of Bitcoin in existence we know that the amount of Bitcoin isn't changing the amount of dollars is being best increased so just you know simple ratios there's gonna be more dollars for Bitcoin than ever and the question is you know how many of those dollars will go into Bitcoin that's really the only question is like how many people have understood that this is happening have recognized Bitcoin as a you know an asset that's resistant to basically human meddling and as more people realize it as more people understand that Bitcoin is you know the only scarce resource left in our whole financial system I expect more dollars to flow into Bitcoin and there's no more dollars to be flown to be put into Bitcoin so you know number goes up and do you still remember that the halving is going to be happening in May and that it can't get canceled the halving is not being canceled yeah I mean it's really funny right because we see every every major government in the world is either already easing or is going to be easing or it's going to be printing money you know things are going to get crazy and bitcoin is just stands in stark contrast everything that's going on and around the world in that it's monetary policy is set in stone nobody's gonna mess with it and you can rely on this having happening and made there's no good point C or central bank to come in and quote-unquote save us by printing more Bitcoin I'd sign it happen so you know you either recognize that today or you recognize that in May or you see the in the news after the pump happens you know maybe it'll take a year to I don't know but as more people realize it it's it's gonna happen all right Neil what's your take on it is insane money printing that was almost unfathomable at least for me beforehand but now it's six trillion is just a normal number unbelievable yeah I mean to be honest that I see these numbers I don't think they're that crazy Mike I think things are just getting started and even if the amounts like 10 20 30 trillion tomorrow I don't think any of us would be particularly surprised or at least I personally wouldn't be that surprised like these guys print money you're in euro and I don't think this is any any different I think that obviously for the long term it's good for Bitcoin but in a super short term like it's difficult to see it because we know that there's a lot of people invested in Bitcoin right now that I mean we're talking about short term price movements here I'm not sure into speculation but I think we know there's a lot of people investment Bitcoin the aren't really bought into the Bitcoin project they're just looking for number goes up and and fast gains and if Bitcoin doesn't perform before the be having or if they need to liquidate to cover all sorts of other leverage that they have elsewhere like we could see like Bitcoin underperform pre hardening or even just after the hardening like that really wouldn't surprise me and I could imagine like a lot of big corners getting a little bit deflated that like despite all of this like these trillions being pumped into the economy that bitcoin is not I could one thing I mean even now like myself I'm a little bit surprised that not more people have gotten done to what what's to come oh I think it's happening though I was gonna say like I see my friend I have all these friends coming out of the woodwork who totally ignored the prior dips and pumps that happened over the last year but now they're all asking about bitcoins so I'm wondering what has changed and I think people are recognizing that the economy around them is collapsing they're starting to see that there's something wrong with the money not something you know they're starting to ask the bigger questions basically ah I do I think Neil's got a point though I think people are there's some people that were like perma Bulls huh that I'm like wait a second yet the world's anything shouldn't Bitcoin be going through the roof and I think some people are disappointed I mean there was huge liquidations though I don't know if we'll have I think the people with the weakest of the hands they had a lot Dave they're already liquidated I don't think we're gonna see something like that again where people need dollars and they're getting rid of their Bitcoin I think all those guys have been flushed out but I fully expect after the having that the price to drop by I wouldn't I'm not and people would be disappointed because they just don't get it you gotta be long-term about this this type of thing but anything else you had to say about the money printing and this just current ridiculous situation that's going on well I mean like I say I think we're just getting started like obviously for the effects of shutting down all of these business businesses is going to be felt later rather than right now and they're going to need even more money pumped into the system to keep all of their leverage going so you think the dollar can be a pretty do you think dad will ever experience hyperinflation the United States eventually I personally I think it's inevitable okay I thought I often think back to the book when money dies and I kind of get so the insane things that the central bank and the authorities were saying about like we need more money in the system and there's just no kind of end to that they never like ever question that narrative and right now we're seeing exactly the same thing like nobody is asking the question I okay when is too much money when is like way too much and nobody's gonna stop like you know they'll print it into a good easily home Billy they kind of have to all right Gabriel I am sure you've got a lot to say on this topic man take it away money printing etc I do have a lot to say and it's all a bit of a jumble in my head and it's not because it's in the morning time it's because we are working with so little information there's a lot of disinformation floating around there's of course hordes of confused people trying to analyze the situation from an outdated and or totally inaccurate world model you see that a huge amount over the past few years but even especially now where we're getting so little information about why things are being done there are so many wheels within wheels conspiracy theories because there's lots of conspiracies in the world people are doing things secretly and they don't want others to know those are called conspiracies however we don't know who's doing them and we don't know how many groups there are and we don't know what everybody's intentions are so I'm just gonna address other things that you guys have already talked about because it's so difficult to get an overview right now this is a time of topsy-turvy turmoil so regarding the flush out we saw a the most sudden plunge in Western markets in history more southern than 1987 which was the previous you know quickest huge crash much faster than 1929 and I don't think that it's over so I'm not necessarily buying into the narrative that oh the flush out already happened but for Bitcoin Bitcoin is low-hanging fruit for these large institutions it doesn't have enough of a track record for for them to want to stick in it for any length of time so you so Adam I think you're probably right that the Bitcoin flush out is over but other asset flush outs I think may lie ahead as we do the next leg and the leg after that and the leg after that down because we're only at 2017 list we still have to bust through the 2015 high and the 2013 high and the 2011 you know possible baseline after European banking crash so that's my comment about the flush out now that kind of leads me to the next subject which is cash balance versus savings in times of deflationary crashes which is basically the essentially the beginning of the of the recession that we're about to see in q2 three people run from risk to cash cash is is you know should be the least risky asset right for you know basic expenditures and the people want optionality right now because assets are crashing and they want to be able to jump into things as they bottom investors want to be able to jump into things they want that they want that that optionality that holding cash allows and this is something Keynesian hate and of course it causes a lower money velocity which which is part of the deflationary situation or in right now where debt not only is being defaulted on which means extinguishment so basically debt is created out of thin air and then it disappears into thin air as soon as anybody defaults it causes a chain reaction and all of that quote-unquote money it's not money it's actually just a loan that was created out of thin air it goes back to where it came from which is nothing so we're in the situation where more and more of that nothing that was created and it was imaginary is being extinguished back to nothing so that causes this deflationary crash scenario and people with they're losing bets they're needing to cash out their savings in order to cover the bad bets and that is causing the drop not only in Bitcoin but also in gold and other traditional safe haven assets they drop along with other with stocks and more risky the less risky assets are also getting liquidated because cash is the ultimate asset in in very sharp deflation like this so that's the situation we're in now and as you guys pointed out just because the issuance rate of Bitcoin is about to go down by 50% in two months less than two months probably it doesn't mean that people will flood in because they may not have the capital to put into savings Bitcoin is a new risk somewhat higher risk somewhat speculative but also used for savings by many individuals and they may not have any cash to put into savings anytime soon because of this deflationary scenario high unemployment high risk people want that optionality of holding government scrip instead of savings assets because they're more liquid it's easier to jump into things it's it's easier to cover losses and stay fleet of foot when you have a cash bounce there's not a savings mindset in a time of panic I mean it's just this is not a time to think about oh yeah Bitcoin looks like a great long-term investment when you're losing your job I mean that's just that that's what's that's what the reality is on the street right now and hey found that like button by the way Gabriel that was a beautiful explanation all these dudes are linked to below check check them all out well Gabriel obviously a lot of this crisis is Magne if most of it is manufactured because the government shut down all the businesses so how long do you think this can go on for the businesses can stay shut down in the Western world but before better that's perfect that brings me to my next subject that I wanted to talk about which is you know as yon mentioned this new recession and idea that we're in now is going to be leading to an inflation right so they're they're printing a huge amount of of this government scrip and so basically it's number go up time as soon as there's any economic activity because right now things are frozen as you pointed out governments around the world have done what they maybe should have done in 2009 with bird flu so we could have avoided so many thousands of terrible deaths maybe there should have been a bit more of a shutdown but this is really extreme it seems outsized it's extremely confusing time because yes there's a very dangerous disease no it's not that much more risky than a very bad flu for most people and it's this hugely confused thing it's like oh well very few clues this and that it was like well actually they probably under reacted to bird flu and then now we're in this overreaction prop possibly so it's it's a really extremely confused time but I do think that we're gonna go from this deflationary shock panic to a short very sharp depression recession for a couple of quarters and then after that is when there will be active economic activity and as the money velocity increases that's when you get your inflation so we're gonna go from recession to stagflation is my prediction this year and that's probably when bitcoin will begin to benefit from this money printing and it's not just a matter of oh it's more dollars chasing the you know limited amount of equipment by the way it's not the same amount of Bitcoin it's just a steady rate that's dropping by half very soon which is really really different from the you know machine Gobert situation that we're in with the central bank so that's when Bitcoin will probably experience its surge and it's going to be an outside surge it's not like okay well there's more dollars so automatically Bitcoin goes up with the rate of inflation Oh No No maybe carrots will be a curative an average rate of inflation Bitcoin and gold probably since they are monetary assets and savings you mutant yourself Gabriel oh no what happened you know he'll be back people don't worry yeah well I wanted to comment really quick I just wanna follow up there I saw a really awesome chart tweeted by Jesse Colombo on Twitter which was basically this essentially coming from the 70s you know and all I showing all the bubbles you know the in 1987 dot-com you know housing bubble and whatever it is that's happening now with everything bubble and the question that you know happened for me in my head is like what which bubble is bursting analogies oh there he is he's back I don't know if you losers he may not be yeah yeah yeah yeah yeah Gabriel you got you got cut off for the last minute there oh man okay where do we get cut off you said that the gold and Bitcoin will go up a lot more because they have like monetary premium I think that's what you're trying to explain that's right monetary premium so they're gonna they're gonna huge that their their surge will be hugely outsized compared to the rate of inflation but I do see a very high rate of inflation I wouldn't be surprised if next year we see double-digit inflation in the US dollar which will be a real shock to the economy however I have to differ with Neil's idea I think that some sort of reset will happen before it gets to the point of hyperinflation remember the dictionary definition of hyperinflation is more than 100 percent inflation per month whether you consider that monetary inflation or price inflation I don't think they're gonna get it let it get to that level but I wouldn't be that surprised to see 10 12 15 even 20 25 percent inflation next year which will be a huge shot to the American public hey I just like I'd like to clarify that I'm not saying that the US dollar is gonna hyper-inflated next year I think they can certainly push this system a lot further I don't have any kind of data to back that up but my my my good feeling is that we could run through another like one or two economic crashes but I think hyperinflation is on the horizon eventually for the for the US dollar I haven't seen any constable yeah I wouldn't be surprised if they if they put a new Fed coin like a gold-backed they return to a gold-backed system actually and then but it'll be a new asset that they that they pair that they don't peg the dollar to and the dollar that's when the hyperinflation could happen I mean I just all right historically like just from the accounts that I've read generally that replacement doesn't come into place until build once not type inflating right yeah yeah I see that I'm kind of happening at the same time what do you guys think just this is an economics question because I don't necessarily understand this so this is not a statement and not rhetorical so yes we expect the amount of money in the system to increase and so on but we also know that there's a global demand for dollars that looks like it's out stripping the supply of dollars so because dollars are essentially the reserve currency is the demand from other country is going to basically act as a counter balance to this inflation because it's gonna make the dollar go up in value and those be deflationary in terms of you know prices what do you guys think about that idea and does it have merit this is a really important issue to bring up and I think that temporarily that's why the dollar is so extremely strong and experienced its steepest aiding surge ever just recently during the panic of course but I think that this is where this is a really the key to the reset it will III what I predict is that the central banks and/or countries will come together Treasuries will come together and negotiate a debt forgiveness a Jew a jubilee for the countries in other words they're gonna all default at once and come up with agreements as to how to negotiate their debt their debt default so this is I think that's really the key is that when they is when they default on all of those loans in dollars is when the dollar will you know will will inflate hugely because they're just not gonna pay back and so they no longer have the demand that's the thing about debt it just goes away and then the demand disappears instantly into thin air the old did you have anything to say about yawns a question so I mean like we know that a number of kind of nations that not particularly allied with the us
like Russia and China and a bunch of other countries they're all repatriating a lot of goals they're increasing their gold reserves so like I think if the US starts to or if it keeps on printing one trillion dollar platinum coins but all of these countries are going to start to probably accelerate that process the US and people in the US have to be concerned because there's a lot of dollars that can get sent back home and as well like if we get into an anecca economic crisis then we could be facing kind of like more hostilities between various different countries and potential war like anything can happen when when when things start collapsing so like in those kind of situations there may be kind of some other kind of currency wars going on at the same time which could could harm the us because everybody's got a lot of ammunition right yan what was it tweet you were about to share oh yeah so I was uh I was looking at this tweet from Jessie Colombo March 18th he tweeted out a chart which is it's a us household net worth as a percent of GDP chart and it basically goes through all the bubbles that happen from essentially the 70s as the end of the gold standard and we see you know the dot-com bubble the housing bubble and now this current you know he calls it the QE and zero interest rate bubble you can call it that everything bubble whatever we want to call it Mike the question my head was you know which bubble is currently bursting is it just this current bubble that happened starting from 2008 or is it actually a much bigger bubble that's going all the way back potentially to the 70s and all the asset you know price inflation that happened because of the loss of the gold standard if that's the bubble is bursting now and all assets will be repriced we are looking at a much much bigger down and I'm kind of a Gabriel here I don't think this is the end of it this this you know a Dow was in a bull market tweet from Wall Street Journal's completed sa9 what are you talking about the entire economy shut down but yeah I think this is a much bigger deal and it goes on for longer and so the question is just you know which bubble is bursting is it this last 10 10 or is it last 20 or last 50 and I don't have the answer to that that's a question that I'm bringing to the group I think this is the this is a hundred and seven year really not a fifty years this is all going back this is all the way back to what's it called Jekyll Island yeah yeah Jekyll Island is where the Federal Reserve where the banking bankers came together to create a banking zaibatsu this is a mistaken troll over over the script supply the paper supply in the markets and that's when the industry took off and so the hock the industrial production efficiencies gained by all of the incredible machinery that was being invented throughout the second half of the 19th century and into the 20th century they saw that they would be able to steal and skim off huge amounts of wealth from the American economy with these efficiencies by hiding the production efficiencies from the innovation in machinery and in the Industrial Age they were able to skim this off and not only not only not have deflation like there was in the 19th century expansionary deflation in other words greater efficiency leads to greater value of gold and everybody's wealth increasing rising tide lifting all boats in the 19th century and abolition of slavery everything like that they instead instituted a policy of inflation on top of erasing and stealing all the gains from the efficiencies of production so they really pulled a pulled a number on the u
s a bunch of people saw it back then there's the famous wonderful drawing of the giant octopus sucking money out of every institution and spitting it into the New York Stock Exchange and with its tentacles and you that's now that's what we're at the end of now this is the end of that paradigm it is the 50-year mark coming up next year of the pure completely pure fiat where you couldn't exchange it for a medal at all since 1971 but this is all the way going back there and I'm I think that they might be actually doing what Lincoln and Jackson and Kennedy wanted to do which is bring all of the money production back to the Treasury like the Constitution says we'll see if they can manage to repeal the Federal Reserve Act from 1913 so this might be the end of the Fed you think first I mean how about if all the banks could be nationalized only on the other side of things and that everyone would just have an account at the Fed you know with digital dollars I mean we could go in that direction too with this I mean well the nation but the Fed is not the nation so until they repeal the Federal Reserve Act and it's not a private banking concern and it maybe if they nationalize the Fed that would be a repeal of the Federal Reserve Act because then it would be owned by the Treasury which is a totally different situation now but yeah that could conceivably happen well again you're you're predicting the end of the Fed from all this and you know I think we're definitely a few we're not there but it could happen but right now they're there the everything of the world I mean it they're that they're the one printing up the money the trillions of dollars I mean they're in charge right now I mean if they really can do no wrong because you know like they're they're here to rescue us right so if they print six trillion and it doesn't help all they just say well we didn't print enough and if they print you know too much well you know we do the best we could there's really no there's no more like measuring stick by which we can judge their performance because we don't know what the alternative looks like that's not well that's not quite true yawn we can look at the effect of their actions and this is where our this disinformation and confusion comes in because the Fed has been bazooka and not everything they're doing is working and right now we see that with the fallout from the repo market this is the overnight lending market from been short-term lending market between banks the default line appeared in September and they papered it over with a hunt you know eighty billion hundred billion basically just injected that amount and let it roll over every night and then things really started to you know implode in February and they've been shoving money at various parts of the of the financial system basically their member private corporations and it's not working because their offering the same thing they're offering free that we're gonna buy like QE right basically we're gonna just Fed says we're just gonna print money and buy your crap that's not worth than anything off of your books and take it off your book so you don't have to take those losses anymore and meanwhile they've also given the ability to take loans out but of course there's no interest in the loans in other words the interest I mean that there's no demand for these loans in fact their whole loan program is going without any takers because everyone's like well why would I take these loans if you're just gonna buy all my losing assets off my books so that is what makes me think that this is not all that of that it seems and may perhaps Powell and Trump are trying to implode this thing trying to break it that it's it's conceivable that that's what's going on because their actions don't make perfect sense but not nothing close they're throwing everything at this and they're not doing it in an organized fashion but in my book at all I would agree that uh most everything that the Fed tries is is a failure but the people the only way to get rid of it would be if you know the people rebelled that the people spoke up if there was the man for this lunacy to end and we are living in a time where people are demanding more and more authoritarianism more and more answers from the government so I and I know the Fed isn't per se the government but I I don't know I I can see how this is the beginning of the end of the Fed but right now they're they're they're having their way with the country I mean they really are and that's uh we'll see how this goes but I do want to know that I want to clarify I want to clarify that yeah what I'm talking about is gonna take years okay this sort of like repealing the act could even happen within two years but that whole process of playing it out I mean it's at least whatever four or five years let's let's talk about the austere authoritarianism that's become popular these days it seems like we're living people are scared about their health and when they're scared about their health I guess they they're willing to give away their freedom it appears from from what IVA analyzed here and I have been very surprised that there many many a Bitcoin er are had this seems like they're a lot more status than I thought some people were so I asked Neil what is your take on the road to authoritarianism what has this surprise you at all what direction are we going on is it gonna get worse so I'm definitely very surprised by particularly the reactions of many bitcoiners in the space to this crisis I think what's most concerning for me is that any kind of public questioning of either the facts of the matter or the logic of the measures being taken is starting to kind of it's getting this reaction where people are calling it harmful and dangerous and it feels like kind of the beginnings of some kind of hit speech laws we're like the certain things we're not allowed to talk about because it can harm people's health and lead to deaths I like that's like the biggest concern of mine but in general like I'm very concerned by how quickly people have been to support not only kind of enforcing themselves being locked at home but also their neighbors and strangers and and and just basically anybody else they know without any kind of kind of serious questioning of how long that is going to take place like people are saying like they want the government to enforce I kind of basically home imprisonment and they're not like set at the terms for that so like they're not saying like okay we're going to do this for two weeks and they're two weeks that's it or like we'll do this indefinitely until these criteria are met they just asked me to be locked up indefinitely that's like that that's a seriously concerning and like it doesn't surprise me in the general population like it's called the normies or people like I probably would have fallen into that camp before I got into Bitcoin and got exposed to all these like different ideas but like for bitcoiners to start to think that that's definitely very concerning and I wouldn't even say it's like a small pocket of Bitcoin as I would say it was the majority of the at least Bitcoin Twitter I'd say and I tend to think that like people say a Bitcoin Twitter doesn't matter I I do think it matters I think Bitcoin Twitter is more libertarian more aligned with the values than perhaps all of the other big coin holders and I'm not saying they're not big coiners but like there's definitely like a type of Bitcoin of that is very kind of values aligned right so and then another another thing that I really really hate about it is this paranoia that is created so this is like less on the authoritarian side although it's a good tool that they can use in that like between families are between friends and between strangers and neighbors all of a sudden everybody's kind of afraid of each other and like I'm hearing stories in the UK well they've implemented a bunch of kind of social distancing rules and you have people in their gardens for instance having conversations it ten meters apart across a garden fence I like that sounds like really nice on like people are making the best of it stuff like that but like if you think about it more it's like well what happens if one person started like walking closer to the other person what happens if like somebody knocked on the door and started like and it's like asking for some supplies or whatever like all of a sudden like everybody's like scared of each other and like if your uncle wants to come around and visit it's like he might be like you might bring around the virus and kill you and I really don't like this kind of this paranoia that everybody's got of it all these asymptomatic people is no there's no good statistical reason for for these people to be afraid of each other a lot of these people are not even vulnerable people to this disease and yet like is this fear that's going on between everybody yeah that's really sad to see I mean there's all sorts of different angles to take on this but this embrace or of control and authority is really hypocritical when if you're supporting Bitcoin not only do you support the values of freedom in finance it's a small step to get to freedom in like speech and movement and freedom of assembly like it's a very small step to get to that but then also if you support Bitcoin like if Bitcoin succeeds all of these measures that you're calling for in this kind of crisis are you you that some of these people are saying absolutely necessary or the ones millions will die like those kind of missions become a lot more difficult when the state can't fund its operations if it's been and be funded by difficulty of obtaining taxation and no longer has access to achieve credit and can't inflate the money supply and get cheekbones that kind of things though it just doesn't it doesn't fit there's a lot of conflict there that like I feel like a lot of people in maintaining I mean there's social shaming going on there's any people or being informants yon what's your take on it uh yeah I have a similar take but slightly more nuanced I think well I don't that's not a disparaging comment towards Neal my nuance is that like I like the voluntary part of it where like for example my mom is immunocompromised right so for me I if I get the virus okay worst case scenario maybe something bad happens but like I can't have it get to my mom so for example for me I have to isolate myself pretty strongly and that's my voluntary action that I'm taking okay and so what I keep and I do in paranoia with my neighbors and I agree it totally sucks because now I said like I went outside my kids were playing outside the neighbor's kid like cough then I was like oh shit like we can't play with those neighbors anymore it's like it's really messed up right but I have no idea of knowing at the same time I think that people calling for authoritarian responsiveness is horrible because as I was pointing out on Twitter earlier like you know 18 years ago 19 years ago we had the shoe bomber nobody remembers the shoe bomber anymore but we all take off our shoes at the fuckin pardon me I know I'm not supposed to we have to take a horseshoes at the airport and we don't no longer remember why we do that and there's definitely people now there are 18 years of age I don't have any clue what the world looked like before the TSA so these authoritarian institutions that we asked for today like Neil said they become permanent they're not temporary measures if we give the power to the government to control means of production which a lot of Governors are now calling for they want to control means of production they want to set prices I mean I come from the former Soviet Union and I know exactly where that goes and it's not a good situation we don't want to be there so while I do think people should take voluntary measures depending on their own risk tolerance and their own you know family situations I think calling for governments to like police the streets with guns which I mean I'm in liberal circles I my my my whole community is liberal I'm I was I thought of myself as fairly liberal before I found Bitcoin but like liberal to me is not about telling other people what to do it's about actually liberty so I guess I'm more of a libertarian than anything but uh you know like you can't ask people with guns to patrol the streets to stop this thing because there's no end to that there really is no end to that and the and the terror could be a lot worse than the disease that's that I do think this disease a lot is a lot worse than the flu I mean we have frontline coverage from hospitals that are becoming overwhelmed and I think that's really the issue is not a people dying or the risk you take as a young person I think it's about the hospital systems that are completely overrun and when they are overrun then all kinds of other diseases are going untreated all kinds of other people are gonna suffer but again it should be done on an information basis on a scientific basis and on a voluntary basis not from guys with guns trying to tell you stay in your house beautiful pound that like button Gabriel I'm handing it off to you go hit a home run you didn't even give it a lot say here well where to begin it's quite a web it's quite a web and you know I'm the conspiracy guy on the panel so it's incumbent upon me to explore those murky alleyways of schemes and and and possibilities first of all I you know what are you guys doing with your echo chambers you got a curate better if you're seeing if you're seeing people calling for a statist intervention you you have not created your Bitcoin maximalist bubble efficiently I mean I would agree there my Twitter feeds actually just fine I'm not sure what word Neil's get in this data store or Adam Adam and Neil are trying to get the finger on the pulse of what's going on in general so they're not quite as selective as Jana and I you know I mean extreme west Bitcoin land and Neil is too but he fought he'll follow people from you know you know whatever central crypto Pia as well see what the idiots are stealing and so now this is this is the price you pay it's not honestly it's not I don't feel any crypto followers and that by buyers definitely align that with your always a lot of pickle Maximus and as a he large portion of the Comex enlists in Miss authoritarian can like yes that's crazy you know what to see basically you know for me like as soon as anybody starts to say something that I think so thorough Terry and I say nope I'm not following that person and if they're really bad I'll block them so I've got the large block list very curated nobody in my list is all they all sound like yawn alright and there's call or off there they're all questioning the calls and maybe they're retweeting some ridiculously authoritarian tweet but um no it's it's definitely I'm not surprised that the people are showing their true colors now because it's a time of crisis so you get to see what people's real beliefs are it's not you don't could see the veneer of fake libertarian Lib Lib Lib retard you know talking points you get to see where the fear where they go when the fear hits right you know I'm like yawn I've got high risk individuals in my family so I'm also doing self isolating but but I'm in total agreement with you guys that this is not the time to implement authoritarian measures however we're still in this fiat world where there's scientism informing Fiat corrupt policy and it's just all a giant cesspool and like Trump says a swamp so the way I see it now is that actually in general and society the libertarian view and the authoritarian view we're seeing it at its most polarized right now we're seeing the strongest views being expressed and that's probably a good thing because now we can we can begin to figure out who's where and what people want and what's going on a little bit and sometimes these crisis points are good for clarifying you know different people's direction in society and what's really going on and that brings me to what is really going on here well there was this doctor I think he's a high-ranking doctor in the CDC arrested in January along with some Chinese nationals health technicians moving vials of stuff between Wuhan and other places especially Canada this guy was arrested for accepting money from the Chinese Communist Party essentially so we've got quite a bit of evidence to suggest that the Cova 19 virus is a bioweapon there's the only p4 level facility for creating bio before bioengineering is located in Wuhan so according to the rumors that are floating around I can't substantiate I mean the rest definitely happened that I was talking about I can't remember the doctor's name but you know now moving into speculative territory the rumors are that this thing was not released how it was meant to be released however it's very clear to me personally that this is an intentional bio weapon release in order to create a fair situation you have the w-h-o which has huge tentacles from the Chinese Communist Party working together with Bill Gates from Microsoft they ran a big what should we call it exercise this is a classic false flag thing where they do a big exercise that's exactly but they run six months later this exercise happened in December and of all the violent weapons they could have chosen to do their quote unquote exercise they did a coronavirus well what a coincidence so gates has his fingerprints all over this where he's been talking about the dangers of bio weapons for years and how we need to create a world one world government that and the create create an ID and now he's calling for chipping where you can oh the chips gonna tell you where whether you got this virus and then we can lock you in a chamber it's disgusting so this is in my opinion we've got the classic you know problem reaction solution scenario from the one-world government you know New World Order cabal people but it's got this flavor of desperation because then there's this Trump and the military are very anti-globalist right now at least on paper so either they're working together and then it's a controlled opposition move by the trunk to pretend like he's cleaning this one but not really do it or there's genuinely a power vying situation between the you know Putin and Trump and the non globalists and the old-school globalist Obama gates Communist Party and deep States State Department CIA crowd so either there's a real conflict or there's no conflict I tend to think there's a real conflict although I don't trust either side so I think that that the Trump in the military maybe want to uh sure in some technocratic situation it's not quite as bad as the you know wartime you know they're just constant warfare and constant tragedies but they still want to maintain power which is not cool either so we've got a lot of questions here and I think we're actually going to start getting some answers this decade this is my prediction the age of leaks only began in the teens the real stuff we're gonna get the real drops coming in the next few years I think it's going to be absolutely crazy and this is where we come back to the libertarian author Tirion divide how that's gonna be bridge and how the people can wake up if we learn the truth Snowden was really helpful but people feel powerless what can you do with Bitcoin now maturing and we have this situation of leaks coming out if we start to get the actual information about this bioweapon release if we start to get the true story and that narrative is spreads among the populace virally where we get the truth that oh this was all intentional they wanted to seize power they wanted to create a world government to keep you down it's conceivable that millions and millions and millions of people could wake up and stop calling for authoritarian controls I know it's hard to see for everybody now because we've had an entire century of this but the old American Way was the rugged individualist I think that's going to come back but it's gonna take a really painful wake-up call and this issue right now this bio weapon attack on the world populace that is actually not doing that well and people are really taking it seriously and we're actually keeping it under control if we can also keep the reaction under the control and keep our level heads and learn the truth about what's going on this could actually be the inflection point for a wake-up call for Humanity and I'm seeing a lot of signs of that and I'm feeling extremely optimistic which is a really big contrast to what I'm seeing out there right now so I encourage everybody to look at the silver lining all right dudes this is why we have Gabriel in the show you know you're not going to hear me say those things but but everyone is loving it right now and I gotta say Hastings international solution sent two bucks he said best weekly show and got a mighty people are saying I'll wing the whoa TM says I got $3 anybody got $4 strong hand well thank you and Hastings International Solutions sends $4 so dude they were loving they were loving it and someone says like this dimmer action I know I don't like do more action no I don't like you know but I let everybody can say what they're gonna say you're Gabriel's got his opinion you know what Gabriel's on the show you know what's coming at you know there's got to be some conspiracy talk coming up but no there is I hope whatever's going on that people do wake up and see that they shouldn't be drifting toward authoritarianism but I don't know if that's going to happen because I just see people are so scared right now I know I know people logical people are getting really frustrated with the situation I'll say that but you know I say it all the time 80% of the people I don't know they just they're just happy with their big-screen TVs and such so uh before we move on to what everyone here is doing these guys three guys are in motion even during this unproductive time so we're gonna talk about that but Yan or Neal do you have anything more to add to their authority rien ISM subject line yeah so I just wanted to say that a regardless of whether you know we buy into any conspiracy theory about where the virus came from I think it is essentially the perfect enemy you know people need an enemy in order to go to authoritarianism right and usually it's gonna be you know the outsiders you know the Mexicans the Chinese it's gonna be some other race it's gonna be somebody that we can identify visually but the virus is the perfect enemy because we can't it's everywhere we can't see it so we have to be always afraid right and that's the ultimate perfect enemy for an authoritarian state so regardless whether the virus came from a lab or came from nature it doesn't really matter it's here now and I think if you are a state and you're looking at the situation even without malicious intent you yourself are in fear even if we assume that everybody's behaving sort of game theoretically you know correctly and honestly then the government is here to protect us and their enemies all around them as well and it's completely invisible and scary so of course we're gonna see extreme authoritarianism come out of that and I don't I'm not optimistic in terms of people waking up in this environment until we have a vaccine whatever it is that that clears this thing away from us as long as it's around us and we can't see it we're gonna be scared and we're gonna do we're gonna do stupid authoritarian things and it's gonna suck it's alright yeah sorry Neil your take are people waking up or people shutting off so I think so for instance I've got a couple of family members that would normally follow whatever the establishment position was on these kind of things I'm they're already starting to voice concerns about the kind of the attitude that's kind of permeating through throughout the UK right now where people are kind of spying on it too it was kind of like a little bit of pitchfork kind of witch-hunt stuff going on there's like police following people around with drones and that's concerning them to the point where they start to voice those concerns and wondering whether people are reacting in the right way so I think what it will probably do is it will expand a bunch of people that start questioning the reality that they're living within and however for the rest of the people it will probably entrench their positions further where they kind of call for more and more kind extreme measures and that that trend will continue so hopefully that group of people that are starting to question things more will start getting drawn towards Bitcoin especially once this is it I mean there's a bunch of measures that we can expect to come in like in the wake of this coronavirus thing and stuff like a new bi and helicopter money we know they've been wanting that there for years this is their excuse they're already starting that their word cash bands they're going to blame it on the virus it transmits disease we've got to get rid of cash okay everybody's gonna be using digital currency it probably going to get and pick up the money delivered direct for the bank you're talking about I can't start with a Fed I think that's going to happen and that's going to show up control with the central bank's away from the commercial banks also we're going to see negative interest rate policies so I've already dropped everybody's dropped to zero they'll go through that as this crisis worsens negative interest rate policy will become very normal they'll talk about how it's actually good for the economy economics textbooks will be rewritten and then also in addition to all that with all this crazy inflation going on we right expect price controls that'll start like rent people here landlords right now and that hatred will just increase with kind of the economic problems that go on so the first thing is I'll get it by price controls will be landlords but then it's going to start expanding to like various other daily necessities we already see the price gouging rules getting implemented right so and I think all of these things will encourage people to look at alternatives like most people will go along with it for sure but there's going to be a growing kind of momentum more and more people kind of sign the question things in there that they're they're kind of our allies and won't be kind of our resources to kind of start implementing these these new systems really really great points there which temporary measures are going to become permanent measures and I like landlords are about to be scapegoated out of control I would a lot of people are like Oh real estate so great I can collect a check every month dude you are in for a whole new world I already see it these rent strikes that are happening I mean and you can understand why the people are frustrated they're not getting paid anymore so let me I want to ask the other two guys panel guys Gabriel what and is godness to what temporary measures do you think are going to become permanent Wow well the situation now is so fluid it's it's very difficult to say there he was once again coming back to this conflict between the globalists and the and this sort of a line of ad-hoc alliance of of countries that want to maintain their sovereignty i think that there's going to be these attempts to centralize further attempts to implement implement authoritarian policies and then consistent pushback from various corners people just not doing it cops refusing to enforce certain regulations I think there's going to be quite a lot of topsy-turvy situations with this there's going to be tax revolts rent revolts huge influx into Bitcoin over the next three years you know and just extreme you're collapsing institutions and so I think we're gonna see at tons of attempts to permanent eyes these these authoritarian servers and lots and lots of failures they can't actually do it and people just and and and the public tide I think we're gonna see some really massive lurches in the Overton Window the Overton Window is you know basically that which is acceptable to the public at large I think we're gonna see that the frame of this Overton Window pushed to breaking nearly breaking point where where people people's opinions about what's acceptable for authorities and the public is gonna shift so greatly in addition I'd like to address yonce with fear-mongering a little bit I do see it's a disease outbreak being totally losing steam this summer and a possible small like resurgence next winter but I don't see this thing as going very long I think it'll probably end up being a little worse than bird flu from 2009 which is really bad really terrible it's horrible that people are suffering and of course dying that is terrible but I don't think that it's gonna be you know a massive pandemic a lot of the overreaction that we're doing right now absolutely collapse this the weapons is up northern hemisphere so I don't see this this is a trigger I don't see it actually continuing to inform policy very much directly all right yon temporary measures that you think are gonna become permanent ubi what do you think yeah I don't know I mean we've what's interesting to me is you know I've been watching all the seeds of everything that is happening now be planted over ms while we all have right we've seen them empty meme that came out you know probably a few years ago started becoming a lot more prominence every week you see more MTV mentioned the media you see more ubi being talked about all of these memes that like started generating you know over the last safe two to four years are now coming to fruition and and like Gabriel said this is a perfect you know we have the opportunity to implement them now and so I think those are the things I mean I think the financial changes are coming I think helicopter money and digital dollars like Neil said are actually happening there I mean they're literally happening right now and everything's positioned for those to become permanent so I do think we're moving to a digital society I've been talking about this for a long time I think money's becoming digital regardless if we ever had this bubble corona without this we would have been here so I think we got a little bit of acceleration to the schedule for implementation of some of these policies they would have been here anyway within the next decade if they're gonna happen within the next few years now instead and that's what's happening so I think if anything we just got a boost in terms of you know time timelines but I think if you were paying attention all of these things were already falling into place over the last couple of years and it was just a matter of what spark was gonna cause it to happen I think we could probably all agree that the kovat is not the cause of any of this it's really just you know it could have been anything could have been any small hiccup in the economic system that triggered this you know collapse and now that we have the collapse we can come in and sort of implement all these rescue policies and you know things are kind of get shaken up I don't know what what its gonna look like in the future I do hope that the authoritarianism is temporary and you know I I wasn't suggesting that the virus is gonna be here for a long time I was suggesting that even if it's here for a short time it could cause the authoritarian policies which then become more long-term because once their laws or once they're even customary like keeping distance from your neighbors is like bounce a social thing or wearing a mask these things could change our culture without even being laws and they could become permanent just from from the practice you know of those behaviors all right yeah and I wanna I want to move all the productivity here people yesterday show people were asking me about Swan they're like dude Swan is already in effect and I remember DX it was supposed to debut in late March so tell us what's going on yes late March is in fact here and so yeah on a positive note we have been hustling the nice thing about Swan we're a fully remote company so we not impacted by Corona in terms of having to change anything about how we work we already you know video conference and slack all day so that was all good we've been hustling to to get the product out the door obviously a lot of us you know have kids at home or other distractions so things have changed but we are rolling out now we're getting people in the door for those who you don't know Swann is at Swann Bitcoin comm and it's just a very simple way to save Bitcoin on a recurring basis that withdraws from your bank account drops it into obviously its custodial to purchase and then eventually you can withdraw it after it passes all the fraud check so you can get into the automated withdrawal so goes chase your Bitcoin wallet and we're currently rolling people in in cohorts if you want early access please DM me on Twitter it's s kwp pronounced scoop just DM me I'll give you some early access but really on Monday we're gonna start rolling in more and more people and you know we'll be fully open probably by the event of that week so that just anybody could sign up yeah he is linked to below of course and Swan is linked to below and yeah they're people say I don't like buying from coinbase well here you got a you got another option their analysis so very good yeah we want to have something but that's you know better for newbies if you want to send somebody new you start using bitcoins start saving Bitcoin we don't want to be hit with like all these old coins I have to learn about you know you don't have to explain to your family why they should buy late coin this is not a conversation that any Bitcoin are should waste time on set them to a Bitcoin only on-ramp and and be done with that all right all right Neal what's up any block stream news that's gonna like with boxing that's difficult know where to start like with Swan and we're majority remote so again things haven't really impacted as much actually there's been increased trading activity as a result of all of the volatility I'm going on so business-wise like that's quite good for us with our products like liquid and bloodstream gain we just Liberty while I've been speaking to you went live with the new announcement that we added continue members to the liquid Federation and some good ones there our ledger who'll be launching some liquid related applications within the hardware wallets also wire here I used to work for and they've launched an app I think a lot of your listeners are based in America and so if they're interested in testing the liquid network getting hold of some liquid Bitcoin if it goes to liquid net why I have a really cool widget allows people to buy with a debit card or Apple get in just a couple of minutes and then they can try sending around some liquid Bitcoin and super low fees transfer is really fast and also you get confidential transactions which keeps all of your transactions super super private and then also we've got horrible I mean there's ten members but another one of them is a portal Hodel so if people are interested in anybody outside of the US is interested in swapping in a night of Bitcoin and liquid Bitcoin they can do that too Hodel Hall there's also bisque which was set up by Wiz he's also a new new member on the liquid network also the liquid networks capacity just exceeded the public channel capacity on lightning so we got like nine hundred and fifty two Bitcoin pegged into the network now that's to be expected like I'm not saying that liquid is competing with lightning the they both fulfill completely different roles lightnings for smaller retail transactions micro transactions liquid is more for trailers people that are doing high-value slower transactions so that's good to see that developing and gaining momentum also I think with the hardening coming up we're probably going to see a lot more trading activity and people sending to and from exchanges sending to and from friends or TC and that's going to start to clog up the network again like if we thought 2017 was bad and we've got where more exchanges where more liquidity sources and way more people on board this time so the next rally which I expect to be very soon and could see a lot of people finding it very difficult to make Bitcoin transactions and that's terrible for traders so I'd recommend anybody to any traders out there to check out the liquid networking and start testing with it now before before it gets too late we've also got like in terms of in terms of the products there's loads of other stuff we've got some new updates coming through oxygen green and we're going to have an update coming to budgeting satellite which will expand coverage and do some other very cool things we've got some blocks cream satellite kits going to be launched within a couple of months and that will allow people to buy a kit off the shelf and start using running a Bitcoin noid completely privately without without kind of loading anybody in it on the internet that they running on yeah we've got a bunch a bunch more stuff coming down the pipeline so anybody anybody out there should be following a block stream on Twitter and see all the cool technology that were coming up but dude thank you for that insider information you're only gonna hear hear people pound that like button Gabriel do you've anything that you're doing or you have any questions for Neal or yan about what they just said no no that was really informative thanks guys Oh awesome all right now I just wanna thank in the chat somebody just sent me Bitcoin that was very generous of you dude there thank you very very much for supporting the show that way that's awesome alright now we're gonna get to conclusionary remarks we've hit the end of end of the show it's been a quite a few wild weeks here we'll start with a yawn you're new to the show what anything you want to add anything you want to share any you want to wrap up anything anything you meant to say that you got left out any words of encouragement yeah I want to apologize for you if I was doom and gloom because I'm not really I'm a very positive person in general I'm just being a little bit realistic about what's around us and how to react to it and I think it's important we stay sober and and you know like rational right and not let the fear get to us keep working on our projects make things good that are good for people that are useful for Bitcoin to me you know Bitcoin a healthier ecosystem I'm glad to hear what Neil's working on on my box room customer myself for the green wallet awesome wallet you know these these things need to be done and it's great that we're here and we're working on the stuff even in the midst of this you know world change crisis and I think that we are somewhat lucky to be here at this time you know we will we're at a moment where we can actually help the world with Bitcoin where perhaps you know a few years ago people didn't really take Bitcoin seriously I think they're gonna take it a lot more seriously now with what's happening and I think it's very it was very opportunistic I mean again I don't want to sound like we're taking advantage of people during time of crisis but we're not we're a Bitcoin is not something that is taking advantage of you bitcoin is a lifeboat in the middle of you know a world is collapsing because of a bad structure it's structured badly it's systemic ly poorly built right I'm an engineer and and you know I look at the banking system and everything else as an engineer I am new to economics I'm new to finance I understand these things only because I'm in Bitcoin I've been listening to a lot of macro podcasts since I got it's a big point and I've gotten a lot more quote-unquote you know woke about how the world works because of the coin and now that I look at it with an engineer's lens I see that the the system is not well built Bitcoin is well built and you know it's early it is very early we have to always keep that in mind how early we are and what we are expecting of people you know around us in terms of when we're pitching Bitcoin they're not only gonna jump on board tomorrow it's definitely not gonna happen we have to be realistic with our timelines but at the same time we have to take advantage and teach people during this crisis why this crisis is happening what's gonna happen next potentially and how a Bitcoin fixes this they're very solid they're pound that like button neo your your thoughts that you anything you want to share conclusionary remarks I'm good thanks a lot for having me on the show um good awesome okay said that those next that's these are tight remarks there nothing else to add nothing nothing House house Thailand I mean how how is it out there it's nice we're starting to have a little bit of a lockdown here they're closing most of the establishments at 6:00 pm and all of the restaurants are only doing takeaway but people can still step out of the house as long as they're not below five or over 70 so it's not too bad sorry all right cool good good update all right Gabriel we're leaving you're gonna summon all up what was left out you could bring up anything tell us what you're doing take it away yeah so that's where I am is kind of similar to – Neal situation it's like semi shutting down and kind of warnings but not totally done and that's like man that is such a good balance I feel I was talking to my father in the Los Angeles area and he's having trouble getting getting deliveries and things like that and that's really tough I hope that the supply chains can withstand this situation I think that it'll be just fine because it's freaking people saying not to go out it's not people dropping like flies 19:19 Spanish flu it's just people's opinions and things that they're saying so any supply chain stuff I think we can very easily fix should they begin to crumble a bit in this situation just by loosening standards and saying okay listen you guys can make food now you know so but where I am that's not the case we've got power we've got Internet hugely different situation than Spanish flu I mean well if you're quarantine you can still communicate you can still you can still really be in touch with the world like you couldn't before you you weren't you you were really isolated in a quarantine before whereas now with the internet boy it's a really different situation and as a homebody myself having an extra excuse not to go out I'm kind of living the dream right now to be honest so enjoy this time for what it is it's a time to get in touch with yourself as well get back in touch with your creative projects that's what I'm doing I have an online business and of course we focus a lot on digital and internet so while things did kind of experience a bit of a hiccup as the panic really reached its fever pitch things are loosening up again now and we're seeing really big traffic so that is sort of a silver lining for people running digital businesses who planned ahead for this type of situation one of the big reasons why I focused my business activity in that direction so you know in summation use this time to to be with your family the people whom with whom you don't need to keep a six-foot distance from you know use the time to cuddle with your pets and reconnect with your kids that can't go to school you know to take charge of your families love your family's happiness and and spend time together and really get back in touch with yourself because the time to come will be unlike the last decade it's going to be a totally new situation and it's not because of this virus it's because everyone has had a time to reset and we're gonna have a massive amount of various resets in the world so the time now is to set your order set your life in order and this is a great time to get into Bitcoin people are going to accumulate familial dynasties during this quarter dude that is a great way right show there that is positive in motion we're entering a golden age start your family dynasty now don't look back in ten years and say oh my god that guy started a family dynasty I I could have done the same thing don't be regret no regrets dude so live it up all right dudes Thank You panel you were awesome i'm adam meister the bitcoinmeister the disrupt meister remember to subscribe this channel like this video share this video pound that like button bang that bell button you get a new show here every day Friday is this weekend Bitcoin I'll be back tomorrow night for the beyond Bitcoin show shabbat shalom everybody stay cool out there it coin is the next bitcoin one bitcoin equals one bitcoin strong hand see you guys tomorrow
