Stefan Molyneux
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Wednesday Night Live 4 December 2024

In the December 4th episode of "Wednesday Night Live," the host addresses a listener's query regarding her daughter's interest in partners from the free demand community, emphasizing the economics of dating through concepts of supply and demand. The show then transitions to a discussion on Bitcoin, highlighting recent statements from Vladimir Putin and comparing Bitcoin's current adoption stage to the early internet. The host warns against complacency in traditional investments, likening it to passengers on the Titanic, and explores the dangers of fiat currency and inflation's impact on savings. Presenting Bitcoin as a viable alternative to collapsing fiat economies, the host argues for its potential to represent a new equitable economic system. The episode concludes with listener engagement and a call for deeper discussions on the intersection of relationships and evolving financial landscapes.

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Transcript
00:00Good evening, good evening. Welcome to Wednesday Night Live on this year of our
00:05Bitcoin, December the 4th and it is just after 7 p.m. Let's get
00:13straight into it. Lady says my daughter is interested in finding a partner from
00:19the free domain community because they will have been vetted for peaceful
00:21parenting, a libertarian philosophy and a rigorous moral backbone. She is 18 and
00:27though she doesn't have a lot of time to have four kids, has had no previous
00:30partners, no post-secondary debt to hinder her future partner and has taken
00:33a prenatal vitamin since she was 16. With an eye for healthy happy children, how do
00:37you suggest she get the word out? What can I do to help? That's a great question
00:42and I do get the question of sort of how to meet people a lot and in general the
00:49best, so it's a supply-demand question, it's sort of a question of economics,
00:53it's a supply-demand question. So the best way to get the greatest choice of
01:02partners is to be as prominent as possible so that you are in demand, right?
01:08So I hate to put it in this course of terms but dating follows the same laws
01:14of economics as a whole that the more buyers you have or the more potential
01:18buyers you have, the higher price you can command, which is why women and men
01:24put on sexual displays. So women and men put on sexual displays, women generally
01:28flesh, men generally resources, so that they get high demand and that way they
01:36have more people to choose from and when you have more people to choose from you
01:39hopefully can make a better choice. Doesn't always happen, of course, but
01:42generally that's the idea. If you have ten job offers you're probably going to
01:46get a better job than if you have only one job offer or of course zero job
01:51offers, you don't get a job at all. If you've ever been involved in selling a
01:55house what you want is a bidding war and you want a bidding war so that you can
02:00get the highest price. So increasing demand is usually the best way to get
02:06the highest quality mate and the best way to increase demand is to become
02:09prominent. You don't want to put on additional sexual displays with regards
02:13to men or women because then you might get people only interested in you for
02:16the sexual display. For men it would be only interested in the woman for sex, for
02:20women it would be only interested in the man for resources. So generally the
02:24prominence in some sort of quality area is the way to go.
02:28All right, good evening, good evening.
02:36What other questions do we have? Yeah, we will talk about Bitcoin.
02:43The side view is a fine view, yes, yes, yes. Hello, Steph Underful. Well I appreciate
02:49that, I appreciate that. Weren't you Al Gore tattooed before? No, you're Alan Gore.
02:53Well, well. All right, so that would be my suggestion with regards to that. And
02:59regarding the itty-bitty-ditty coins, well, yes, things are going, things are
03:08going fairly well, to put it mildly. So Vladimir Putin has said that Bitcoin
03:15can't be stopped. The Bitcoin, if you go from sort of 1990 to 2005, the Internet
03:24went from almost nobody to about 1.1 billion people from 1990, in a 15-year
03:30period, from 1990 to 2005. Now depending on when you start, of course the
03:40Internet was around before 1990, but 1990 is when it really began to become well
03:45known in public consciousness. So if you start from when that began to happen for
03:51people and you look at the sort of 9-year period or 10-year period, which
03:57is 2014 to 2023, of course numbers aren't in for finally, Bitcoin versus
04:03Internet adoption. The Bitcoin adoption is following the Internet adoption, but
04:11of course it has a lot further to go, right? So if I put this up, oh yeah, oh my
04:19gosh, let's do low-tech sharing here, right? So this is Bitcoin, the gold is
04:26Bitcoin, of course, and the black is the Internet adoption, right? So we're still
04:32very early when it comes to Bitcoin adoption, but it is following the same
04:35path as the Internet.
04:39So Putin says no one can stop Bitcoin, but anything could happen with the US
04:44dollars, the US dollar. The tipping point happens,
04:50it's a mindset tipping point, and it's going to be wild when it happens, and
04:57I've used the analogy before, so I'll just touch on it briefly here. The
05:00analogy, of course, is when you first hear that jolt in the Titanic, you think
05:06everything's fine, maybe just hit a little burg or something, or if there's a
05:10hole it'll be patched, or the bulkheads will seal, and so on, and then people get
05:15a little more uneasy, a little more uneasy, and then all of a sudden they act,
05:19right? So that build-up of uneasiness is really important. For those of you who
05:24are, I guess, a little older, prior to GPS,
05:27I mean, there was a place, I think it was called MapQuest or something, and when I
05:30was in the business world, there was a guy who gave me such specific, he was one of
05:34our salespeople in the US, so I would come down to do a sales call, or to
05:39assist, I suppose, to support. I would do the presentation, I would answer the
05:42technical questions.
05:45He gave me such specific instructions, I was absolutely certain that he had
05:49driven the route the night before, like he was that conscientious and diligent.
05:53And, if you've ever driven in the past, when
06:02somebody would say, do this, do that, to the other, and then, you know, you go four
06:06streets, and then Pine Avenue is on your left, and if you hit the gas station,
06:11you've gone too far, right? That this would be sort of the instructions that
06:14you would get. A friend of mine delivered pizza in a car, I guess, 40 years ago, and
06:22had a hell of a time. You really had to, I mean, it's like being a London taxicab
06:27driver, following the lower intestine path of London streets, and so on. So, if
06:33you were driving, and you had some instructions kind of jotted down, you
06:37would be like, oh, did I pass the gas station? Maybe I did pass, and you'd get
06:40this uneasy feeling, right? But, you'd plow on, driving on, because you wouldn't,
06:46this happens with hiking sometimes, too, but you'd plow on, because you get this
06:50kind of uneasy feeling, and you wouldn't want to turn around too soon, because
06:55turning around means you're gonna add another 20 minutes, because you could
06:57find someone, get instructions, and, you know, people always give you these rapid
07:01fire instructions, and you have that choice of like, okay, do I ask them to
07:04repeat it? Do I think I've got it? That kind of thing. So, you're driving and
07:08you get this growing sense of unease, and then you turn around, right? Oh my, and
07:13then you find out it's ridiculous, because what you're doing is you're
07:16saying, okay, well, if I turn around now, and I'm just about to get there, I've
07:18added 20 minutes, but if I keep driving, I'm adding half an hour, because I've got
07:22to turn around, drive all the way back, get more instructions, and so on, right?
07:24And then, when you're driving back, then you have to do your instructions in
07:33reverse, right, in your head, right? I mean, I remember when I was in the
07:37business world, I was doing a presentation at a company with very,
07:42very, it's a very big company, with very, very tight security, and I had not
07:47brought my ID with me, and so, they were like, well, go back, drive back to the
07:53hotel, grab your ID, and come back, and they were like, do you know how to get
07:56there? I'm like, and then, so, fortunately, someone came along and drove me back to
08:00the hotel, and it was actually a very successful presentation. We ended up
08:03selling that deal, but I'm not particularly good with directions. So,
08:07what happened for me, like, I grew up with buses and subways, right? So,
08:13buses and subways, what happens is, you just zone out, you don't notice, right,
08:19you just, you read, right? In general, I would read on the bus or the subway. The
08:23subway, in particular, is like hyperspace, like, the city is a series of bubbles
08:27that you don't know anything between, right, because you just go underground,
08:30you go through hyperspace, and you pop up somewhere, and when I was driving, I'd be
08:35constantly like, oh, this connects to this, when I first got a car in Toronto. So,
08:40sorry for the long explanation, but what's going to happen is, people think
08:47that the existing financial paradigm is the secure, is the familiar, is the safe,
08:56right? So, you've got your bonds, you've got your stocks, maybe a couple of GICs,
09:03and your savings, maybe a bit of gold, maybe some real estate, you know, your
09:09general, you know, you gotta have a bunch of stuff. There's a Harry Brown formula,
09:1225% stocks, 25% bonds, 25% gold, 25% cash. So, it's like, well, you know, you don't
09:18want to put all your eggs in one basket, you gotta share your risk, and some
09:21foreign, some domestic, some whatever, some high risk, some medium risk, some low
09:24risk, and there's this sense that you have a safe investment strategy based
09:34upon what is and what has worked, right? You might dollar cost average into the
09:39top 100 stocks, you've got some formula that is fairly stable, fairly secure, and
09:46it really has been the case over, say, the last hundred years, that even if you
09:50bought stocks right after a crash, sorry, right before a crash, you bought stocks
09:56right before a crash, you'd still make money over a long enough time period,
10:01right? So, there is a sense of, you know, it's been choppy seas, but in
10:07general, things kind of flow in the right direction. And the future looks like the
10:16past, right? That is one of the biggest and most tempting, like, none of this is
10:22financial advice or investment advice, these are, you know, just my thoughts on
10:26the market and people thinking, do your own research, don't take anything I say
10:29as any reason to buy or sell anything. But the great peril of investing is to
10:36think that the future looks like the past, which is a reasonable assumption
10:41until it doesn't, right? It's a reasonable assumption until it doesn't.
10:47So, of course, one of the big problems with the Titanic, and it was one of these
10:51analogies that just turned out to be too perfect for words, is the ship was built
10:56to be unsinkable, and it might have been if a lot of people opposing the Federal
11:00Reserve went on board. So, the perception is it's unsinkable, and so people feel
11:08that it's safe, because they've been told it's unsinkable. Now, people, of course,
11:14have, the older you get, the more you realize how much your money has been
11:19democracy gang-raped into atoms, and that's rough to see, right? That's putting
11:25your money in the bank is, you might as well just set fire to, you know, five to
11:33eight percent of it every year. So, people have a sense that the future is going to
11:39look like the past, and what has worked in the past is going to work in the
11:44future. Or, at the very worst case scenario, there are going to be
11:47incremental gains in the future, incremental changes, but in general
11:52things are going to right, and things are going to go in a generally
11:55ragged line upward direction. That is false. That is false.
12:02Historically, you've got a hundred to two hundred and fifty years at the very
12:07outside edge. You could talk about the British pound, which is 400 years, but
12:11again, 98-99% of its value has been democracy, democra-raped away. So,
12:21once people understand that the past is no longer a relevant guide to the future,
12:30once they realize the Titanic is sinking, that's when the panic begins.
12:38That's when the panic begins. So, it's kind of like this.
12:45Depending on when you panic, and panic is a very, very, very underrated emotion.
12:50Panic is, oh, it's panic selling. Oh, it's panic buying. It's like, yeah, that's
12:54really good sometimes, right? So, for instance, if you think, well, I've got a
13:00certain spot for me and my family on the lifeboats, and we've got an hour and a
13:04half to get there, everything's going to be fine, then what do you do? Well, you go
13:08down to your cabin, and you get all of your artwork, and you get your wallet, and
13:14you get your books, and you get your jewelry, and you get everything, and
13:18you make sure you leave nothing behind, maybe even take a little bit extra, since
13:22it's going to the bottom of the ocean anyway, might as well take a tablecloth
13:24or two. So, you go down to your room, and you gather up all of this stuff, and you
13:32take an orderly, keep everyone in line, tell to the kids, you take an orderly
13:36walk, because you've got an hour and a half, and you've got a certain spot on the
13:39lifeboat. So, you can take your sweet, leisurely, freaking time.
13:47Right? However, if you are standing on a 45-degree deck, and people are slashing
13:56with knives the cords that keep the lifeboats on, and they're crashing down
14:01into the ocean, and you are going to get sucked down with the undertow into the
14:06Titanic, into the dark, icy water, where you have about, what, a minute or two
14:10minutes to live, then you are not going to go down to your cabin, you're not
14:14going to collect your jewelry, you're not going to have an orderly exit, you
14:18are going to hurl your children down into the boats and jump like hell
14:21yourself, even if that gives you only a 10% or 20% chance of living, you're
14:26doing way better. So, it really depends. So, things look orderly, until they don't.
14:34Now, when people see fiat currency disintegrating,
14:40and they see that the only people who have defendable, transmissible assets are
14:49those in Bitcoin,
14:53then the transition is going to be so rapid, it will blow your mind. It will
15:01blow your mind. It's going to be like the people clinging to the
15:08helicopter pads as they pull out of Saigon at the end of Vietnam. They'll
15:15hang there, you see them, sometimes they fall into the sea, sometimes they climb
15:18up.
15:21It will be
15:23beyond comprehension how rapid it will be. So, well, people are going to
15:29panic. Yes, they will panic, and they should panic, because fiat will eat your
15:34life. Fiat will eat your savings. Fiat will eat your time. Fiat will consume
15:41years and years and years of your life. See, fiat is retroactive
15:47slavery. Fiat is retroactive taxation. So, the savings, you know, I mean, this was a
15:58story I read, of course, about the Weimar Republic, when the International
16:03Banksters wrecked the German economy.
16:09There was a man who had diligently saved his entire life, and he withdrew
16:14his entire life savings. He went across the street, he bought a cup of coffee, and
16:20he had to pay for it with his entire life savings. So, what that meant was,
16:23let's say he'd saved, he'd worked for 40 years, he had saved half of his income,
16:28which meant that retroactively he was enslaved for 20 years. He was an abject
16:35slave for 20 years. So, slavery that is imposed retroactively can't even be
16:41fought, because there's no time machine. If you're enslaved for the next 20 years,
16:45you can rise up, you can drive off or kill your enslavers, you can do all kinds
16:52of Tarantino shit, right? If you're going to be enslaved for the next 20 years,
16:56you can fight that, and you should, like hell. But, if you get enslaved for the
17:09past 20 years, well, it's gone. You can't fight it, because it's taken after the
17:18fact. So, what's going to happen is, people's savings, right? 20 years worth
17:25of savings, 20 full-time years worth of savings, I mean, they're already going
17:30to 20 years worth of savings, 18, 16, 14, right? Years are being stolen. I mean,
17:40the modern fiat currency system is the biggest heist in human history.
17:45It's tens of trillions of dollars are being stolen. So, what's going to happen
17:54is, people are kind of used to, in a year or two, a couple percentage points a year,
17:59this, that, and the other, right? But, what's going to happen, and this really
18:03accelerated, of course, under COVID, with trillions of dollars of debt and money
18:06printing. But, people are going to see their 20 years of savings, oh shit, 19,
18:1418, 17, 16, at some point, they realize their savings are going to fucking zero.
18:21This has happened countless times in human history.
18:26I hope, and if I could pray, I would, that this is the last time, that the
18:33great Promethean god of human salvation from statism, Satoshi Nakamoto, came
18:39down like Prometheus gifting fire to humanity. Satoshi Nakamoto gifted
18:49unthievable time, unstealable time. You cannot be retroactively in fucking
18:58slaves by the fiat monstrous with Bitcoin. They can't reach back in time
19:06and steal your life and turn you from a free person, relatively, into a slave.
19:13In other words, having taxed away half your time, they can't tax and inflate away the
19:17other half later. So, people are going to see their 20 years of savings, and I
19:20don't mean that they've saved for 20 years, I mean they've worked for 40 years,
19:23even if they've saved half their money, which is really a quarter of their money,
19:26because it's half that's left over after taxes. People are going to see 20 years of
19:31their life go to 19, 18, 16, 15, and at some point, they're going to say, they're
19:38going to realize, holy shit, it's going to zero. It's going to zero, which means,
19:45if I can save five, so much the better. It's five or zero. So, right now, people
19:55say, well, if I throw my money into Bitcoin, well, it's highly speculative, you see.
20:00So, I've got a sure thing here, the Titanic ain't sinking. I got a sure thing here,
20:04because we've been told the Titanic is unsinkable and the economy, for some
20:07reason, because people, well, not for some reason, because people aren't taught shit
20:10about anything in government schools. I don't want to go off on that raging tantrum, tangent
20:20tantrum. Oh, I've got a nose every single time. I wish I had a little flamethrower to
20:26take out nose hairs. So, people think, because they haven't been taught anything,
20:35that fiat currency just goes on and on. Yeah, there's inflation, but my wages go up,
20:40and it's kind of even, even. No, no, no. No, that's not even remotely true. Never has been
20:45true and never will be true of any fiat currency. The power of fiat currency, I mean, people can't
20:50handle power in general. They sure as shit cannot handle the power of infinite money
20:55and control of interest rates. I mean, that they absolutely, in no way, shape or form,
20:58can handle anything to do with that, because it is the most insidious power, because not
21:02one in a thousand or ten thousand people know exactly what's going on. So, bitcoin
21:10is considered risky and speculative, and trad-fi, fiat-fi, is considered stable.
21:19Right? And the Titanic analogy is imperfect, to put it mildly, because the Titanic was a glorious
21:34and beautifully appointed ship, and the rowboat was, you know, a piece of dirty,
21:41dusty, saltine crackers and burlap, inferior, infinitely inferior vessel, but it was just the
21:46only path to survival, whereas people will realize that the Titanic is not a ship, but a
21:53whirlpool sucking them down forever, and bitcoin is the ultimate luxury interstellar liner, right?
22:03So, people who miss the bitcoin turnoff, they'll drive on, and they'll be like,
22:07okay, well, I don't think that was the turnoff, and it looked kind of sketchy down there, so, right?
22:12I remember being with a friend of mine in business, driving through a really bad section of
22:17Detroit, and he was lost, and I wanted to turn on the lights to check the map. He said, don't!
22:23They'll know we're tourists, or they'll know we're not from here. So, they'll miss the turnoff,
22:27and they'll just get kind of, oh, should I have turned? Should I have turned back? Should I have,
22:32you know, done this, that, or the other? But they'll keep driving, and then at some point,
22:37and then at some point, they'll be like, oh, god,
22:43this is just getting worse and worse, and they're low on gas, and it's a bad neighborhood, right?
22:47Fiat currency, in the end, is a breeding ground of crime and theft and desperation.
22:52The only place to hide is a library free of copper pipes.
22:57So, at some point, they're going to just, the panic is going to overwhelm them,
23:01and they're just going to flip, and they're just going to turn and gun it the fuck out of there,
23:06and try to get to Bitcoin. And it's when people see that 75% of their savings have been eaten up
23:13by inflation and corruption, and they say, well, if I throw the remaining five into Bitcoin,
23:23I can keep it, but otherwise, I'm going to watch it go to zero. That's kind of a gut level instinct
23:29that we have. It's a very interesting phenomenon. It's a gut level instinct that we have about the
23:36sustainability of systems. Is the system sustainable? Is the system not sustainable?
23:41We have a really gut instinct about this.
23:47So, right now, what's happening, in my view, is that Bitcoin is positioning itself as somewhat
23:57parallel to fiat-based traditional finance approaches or models.
24:05And they're saying, well, Bitcoin can be a small part of your
24:12portfolio. It's an appreciating asset. It's a little sketchy. It's a little funky. It's a little
24:19who knows what. It's like kind of uber technology nerdcore, but just throw a little in, right?
24:29Which is kind of like saying, okay, look, I mean, just throw... I mean, the Titanic's fine,
24:35obviously, but just in case, just put one bag on the lifeboat. Just reserve your spot. Just put
24:45one bag, just 2%, 3%, just a little bit. It's fun money. It's found money. It's throwaway money.
24:53Like, you could go to zero, although, what was it somebody said the other day? There's no way
24:58Bitcoin's going to go to zero because I'm going to put a buy-in order at a penny.
25:05So, right now, it's become serious enough that people are saying, you know, just,
25:11of course, look, the Titanic's fine. Just put a little bag on the seat of
25:21one of the lifeboats. I mean, look, 99.99, you're not going to need it, but what the heck, right?
25:29So, it's positioning itself as a fun little play area or, of course, Bitcoin doesn't do anything
25:37to itself, but it's being positioned, I think, as a kind of little fun corner play area where
25:42people can throw in a little mad money, you know, just because it's perceived to have value. Clearly,
25:48it's gone up a lot in value. Maybe it's the top. Maybe it's not. Maybe this Michael Saylor guy who
25:53says it's going to go to 13 million of Bitcoin, maybe he's completely insane. He does look like
25:58Santa Claus with an eating disorder full of meth, and I say this with love and affection. He's a
26:03great guy in my humble opinion, but, you know, the man could crack a smile, and I appreciate
26:09the intensity because you really can't get that kind of leadership without that kind of intensity,
26:13but the man looks like he could, you know, bore through a diamond wall just with seeing a Bitcoin
26:19on the other eyes with those laser eyes. From planet Krypton, it's Michael Saylor.
26:24And, you know, again, I admire that level of dedication and all-in-it-ness.
26:33So, yeah, so right now, Bitcoin before was just nerdcore, hyper, random,
26:41Austrian, crack economics speculation. Now it's being positioned as, you know,
26:49why not just put a percent or two in, put it, whatever, like, just get a little bit,
26:52get your foot in the door, and it is being positioned as a fun place to grow your money,
27:01but not as a hedge, and they said, well, it's a hedge against inflation and so on,
27:04but Bitcoin is not a hedge against inflation. Bitcoin is a lifeboat to fiat collapse,
27:10which is mathematically inevitable. You know, I'm not a great mathematician, to put it mildly,
27:16but I do understand the basic principle that that which cannot continue will not continue.
27:20Mathematically, that which cannot continue will not continue, right? If somebody says,
27:26I'm going to lose 10 pounds a month forever, well, it won't be forever, because at some point,
27:31he's going to die from malnutrition, starvation. So, mathematically, that which
27:44cannot continue will not continue. Fiat is going to zero. It always has. It always will.
27:49Fiat is going to zero, but people don't get that yet. It's too much of a paradigm shift,
27:54and it's very tough for people to imagine how many people are lying to them. This is one of the big
28:00problems with propaganda. It's what happened with COVID and lots of other things as well.
28:05People cannot conceive of how much they're fucking lied to.
28:12See, most of us are surrounded by people who don't lie. I mean, maybe a little white lie here
28:22or there or whatever, but most of us are surrounded by people who aren't total fucking psychopathic
28:32pathological liars, who will say anything, do anything without a shred of conscience or remorse.
28:39And it's tough to imagine that the Matrix is simply composed of pathological liars.
28:47And it's hard for people to think that almost all the cultural and
28:55economic and political and academic and media forces around them are just pathological liars
29:04hell-bent on excavating every last shred of jewel-based kinetic economic energy
29:13from poor hapless serfs who are raised and trained to praise the liars who enslave them
29:20with the whips of falsehood and propaganda. They can't wake up to that basic reality
29:27that just about everyone who is prominent is lying to them on a pathological continuous
29:33narcissistic profit-based basis. It's too shocking. Because there's the people around you
29:41who are generally pretty nice and honorable and decent and reasonable and so on. And we're all
29:46just like mammals at the feet of these pathologically lying dinosaurs who exploit us
29:52through the swords of words on a daily basis. But again, there's an instinct for that.
29:58And when people wake up to the fact that the people who want to get to the lifeboats
30:04will absolutely tell you that the lifeboats are dangerous and that the Titanic
30:12is fine. And the reason they're telling you that the lifeboats are dangerous and the Titanic is
30:17fine is that they want to get on the lifeboats and get the fuck away and leave you to drown.
30:21So, there's a tipping point from abstract, uber-nerd, hardcore, Austrian crack economic
30:29paranoia, which was sort of early Bitcoin, to, you know, it's a rising asset. People seem to
30:34believe in it. We don't really get it. But it is kind of a store of value. It's kind of like
30:37the internet of money and it's kind of like electronic gold and like just a bunch of right
30:42nonsense and verbiage that people don't really get it, right? And so, they're saying, well,
30:45carve off a little bit of your fear and you'll be fine. And so, they're saying, well,
30:49carve off a little bit of your fear, maybe this will be a decent hedge against some aspects of
30:53inflation. It's just, you know, it's a prudent thing. You put your eggs in a couple of different
30:57baskets and so on, right? And there's a couple of stages after that, but it tends to be very
31:03much a rapid acceleration after that. So, after that, people start to get uneasy
31:10because they see the Bitcoin is going to continue to rise and fear is going to continue to fall.
31:15There's a 99.9% increase in the value of Bitcoin versus gold over the last decade.
31:2399% increase just over the last five or six years with regards to real estate.
31:28So, at some point, they're going to be like, holy shit, value is sticking to Bitcoin
31:36like deadheads to a traveling band. Like, that's wild. And then, they're going to get a sense
31:46that the new economy is Bitcoin and they're on the titanic.
31:54And they realize as their savings go from 20 to 15 to 10 to 5 that if they're going to have anything,
32:02they're going to have anything, it has to be on the blockchain. If they're going to have anything,
32:12it has to be on the blockchain. It's blockchain or bust. Blockchain is not just
32:20the lifeboats. Blockchain is the USS Enterprise. It is the starship.
32:27And nobody wants to throw their kids down onto a lifeboat unless it's the only chance they have
32:32of living. So, people are going to say, either I put what I have on the blockchain or I have nothing.
32:44And then, at that point, they are no longer frightened of price because right now,
32:52people look at the price of a Bitcoin and they say, okay, well, but the price of a Bitcoin is
32:58140,000 Canadian, right? Y'all wanted me to talk about Bitcoin. Well, here we go, right? So, let's
33:05look at the direct absolute price, but people were looking back and this is kind of funny, right?
33:11Yeah, so it's 138,863. So, that is the price of a Bitcoin, right? And what they do is they say,
33:18well, damn, man. I was just orange-pilling people a couple of nights ago, a big table of people.
33:26So, they say, oh, damn, but 138,000 and change, Canadian dollars, 138,000, I could buy a lot else
33:36with that, right? Until they can't. Until it's get your precious time, your savings, your capital.
33:53Capital is your life. Get your capital on the blockchain or it's gone.
34:01Get your capital on the blockchain or it's gone. Then, they won't look at the price of a Bitcoin
34:08and say, well, that's pretty expensive relative to everything else I can buy.
34:13What they do is they look at the price of Bitcoin and say, it's that or nothing.
34:22If I have a million dollars saved and it's a million dollars a Bitcoin,
34:26it's I get a Bitcoin or I get nothing, nothing, nothing.
34:43Well, that's when people realize it's Satoshi's or bust.
34:49Now, when that happens, it's going to be staggering.
35:02It's going to be staggering.
35:04Wouldn't you throw a block party with food you knew you couldn't save or store, right?
35:08So, there's always the case where if there's some extended power outage in the summer,
35:12everybody has barbecues. Why? Because you might as well cook the food because you can't store it.
35:16Freeze is broken. Fridge is broken. You might as well cook it and share it.
35:21Nobody wants to cook up 50 burgers, but you might as well have a block party and
35:25have a bunch of burgers because otherwise, you lose them.
35:27So, cook them now because they're going rotten. Use them or lose them.
35:39It's like the people being chased by bandits in the past who would take their coins and just
35:43bury them somewhere in a field under a tree. The odds that they would survive, the odds that they
35:49would not be killed or kidnapped or sold into slavery, the odds, even if they were sold into
35:55slavery, that they'd ever get free and find their way back to the gold coins buried.
36:01And they still find them around the place. So, that they would ever get back and dig up that,
36:06the chances that they would get their money back are virtually zero.
36:13But they'll do it. But they'll do it because any chance is better than no chance.
36:23If you're on a plane and for some reason, the plane is flying up over water,
36:31it's flying up and you say, well, shit, I got to get out of the plane for whatever
36:36reason. The plane's on fire or something. Okay, but the longer you wait, the tougher it is to
36:40jump, right? Because the more dangerous it is, right? So, if you jump at 20 feet, you're probably
36:44okay. If you jump at 50, it's pretty bad. If you jump at 100, you might break a limb. If you jump
36:49at a thousand, maybe you'll die. I don't know. I'm not an expert on what happens when you jump
36:52into water, but I assume it's not great, right? So, when people get that it's Bitcoin or nothing,
37:00there will be a stampede, the likes of which we've never seen before in human history, because this
37:03stampede will be worldwide. Because, particularly if it's the U.S. dollar, if the U.S. dollar goes,
37:11the financial paroxysms that occur in the world economy will be so staggering that
37:19the idea that Bitcoin is risky, again, lifeboats are risky compared to what?
37:27And the stampede will be shocking and difficult and dangerous.
37:34So, that's where I think things are. And that's where I think things are going.
37:42All right, let me get to your comments, in case I'm sure I've missed a few.
37:56All right, let's get to your questions and comments. Oh yeah, hand-drawn map somewhere
38:01to go, I remember. Yeah, isn't that the chair? That isn't the chair that faces the bed, is it?
38:05No, that's funny. Here in the government, here in the UK, our government will set fire to Bitcoin,
38:10fiat and inheritance, and do it all with a suit tie and polite voice.
38:18This is an incredible view. Yeah, it's the economic equivalent of what happens to the dinosaurs.
38:21I don't know if some of you see the asteroid coming in the sky yet. People still recycling
38:26cans and holding fiat is the worst sort of irony if done for environmental reasons.
38:30That is very funny, right? Well, I mean, I don't know if you've seen these things where they put
38:36trackers on the recycling and it just ends up in a trash heap in Thailand or something.
38:45I know people who say this sort of thing a lot, but more than ever,
38:47I think we're about to experience something like the Book of Revelation.
38:50Yeah. I'm sort of reminded of that scene in The Matrix where that robot tracker is pulled out of
39:02Neo's belly. Extracting fiat is the most dangerous, risky and ugly experiment or necessary procedure
39:15in all of human history. But it's either that or nothing. Because there's so much technology now
39:25that without Bitcoin, fiat would simply devolve into techno-tyranny. Everything you do is tracked,
39:38every spending and CDBCs and so on. All right.
39:45He says, in your conversation with Michael Woodley, he mentions periods where group
39:52selection was accentuated and how innovations per billion were up during these times. These
39:56periods coincide with when there was a gold standard. The Jolly Heretic talks about how
40:01geniuses are beneficial at the level of group selection. My hypothesis is that sound money
40:05leads to accentuated group selection, which leads to more geniuses, which leads to more innovation.
40:10I think a Bitcoin standard will lead to unimaginable levels.
40:13So, I was talking about this the other day with a friend of mine about aristocracy.
40:23I'm watching a show called The Crown on occasion, but it's pretty heartbreaking for me to see all
40:28that was lost in order to see siblings who are good to each other, at least at that time in
40:32their histories. But the aristocracy are those who are both intelligent and competent at war.
40:42I mean, not just competent as fighters, not just martial courage, but I always remember Lord Gort
40:48from 1940, the eyes of the empire upon you. So, the aristocracy was hived off from the serfs
40:59because the aristocracy were very good at fighting wars on behalf of the king.
41:03So, you had the intelligent warlords who would innovate and study battles and improve weaponry
41:13and defenses and create all of the necessary ruses for the fog of war. War is 99%, at least in the
41:20past, war was 99% deception, that you want the enemy to think that you're strong where you're
41:25weak and that you're weak where you're strong. And the endless thing where you chase the enemy
41:31into a valley and then the pincer comes around, you get cut off and slaughtered. So,
41:38a huge amount of deception. It's a little bit tougher to deceive people now with satellites
41:42and so on, but all of war was based on deception. So, the only way that the intelligent could
41:49survive in war was to become sociopathic. In other words, if you were intelligent,
42:00but also good at planning and executing wars, which takes a certain sociopathic element,
42:06I'm not saying it's bad, I'm just saying it does, right? And so, the only way that you could
42:12survive as an intelligent person was, you know, you would either join the priesthood
42:19or become a rabbi or something like that, or you would join the ranks of the military as an officer.
42:25Now, of course, the officers led the charge a lot in World War I, which was the decimation
42:30of the brilliance of 19th century Europe, which Europe has never survived, right?
42:34Never really flourished after that. So, Bitcoin has allowed for the concentration of wealth
42:46in the hands of those who are very intelligent, but not warlike. First time in human history
42:54where wealth has accumulated through brilliance, but not through sociopathy, right? So, when land,
43:01Genghis Khan, right? You just got to go around raping and burning and destroying and capturing
43:07and so on, right? So, same thing with the aristocracy as a whole, you just ride in and
43:10you're the warlord and you take over the land and you demand your tribute from the peasants,
43:14and they can't hunt on your lands, that's bad, that's poaching, right? So, in the past,
43:22wealth accumulated through intelligence and sociopathy, intelligence and coldness
43:32towards the suffering of others. Now, for a smaller period of time, from post-enclosure
43:41movement probably till about 1840, 1850, capital did accumulate among those who were intelligent
43:53and somewhat less sociopathic. But then, of course, the sociopaths came in and used the
43:59government to control or to raise barriers to entry to enable rent-seeking and to initiate
44:08wars and so on and get special protections and licenses and all this, that and the other, right?
44:15And then the 20th century was all the way back to brilliant plus sociopathic, right? Like the
44:21communists and the national socialists and so on, brilliant and complete sociopaths.
44:27And so, it came back to political power and war and the ability to starve out your enemies and
44:32slaughter their children and start wars and the Holodomor and the Holocaust and so on, just
44:37massive slaughterhouses. So, intelligence and sociopathy gathered resources, but of course,
44:43when resources gather towards sociopathy, you end up with endless evils in the world,
44:48because those who have the most money and the most power tend to be the most cold, cruel,
44:52and calculated. And there certainly are some exceptions in the modern world, without a doubt,
44:57but that's the general pattern. So, Bitcoin, though, has allowed people
45:06to gather resources without being sociopaths.
45:11It's absolutely unprecedented. Like, all the tax money that flowed from the intelligent and
45:16productive to the needy and sociopathic, right? And please understand, like, this kind of evil
45:22and coldness occurs throughout the classes. Everyone thinks, you know, because the poor
45:27always want to portray themselves as needy and lovely and wonderful and caring and so on.
45:32Well, we'll share all our food. It's a complete lie. Everybody who says, well, the rich need to
45:37pay their fair share, to me, total sociopath, just as cold-hearted, right? Because it's dehumanizing
45:46the wealthy, right? Saying that they're just cattle and slaves that need to serve the needs of
45:51the less competent and the less responsible, or maybe even the less intelligent, of course,
45:54that's an aspect to it as well. So, for the 20th century, really, since the 1930s,
46:04a great deal, and certainly the labor victory in England after Churchill defeated the Axis powers
46:14in World War II, there has been a massive flow of capital away from the competent and intelligent
46:21towards the greedy and cold-hearted poor. And Bitcoin is the recapture, it's the retaking of the
46:31capital of capital, so to speak. Bitcoin is the war to reclaim value from those who have stolen
46:37it through force and fraud and propaganda and lying and money printing, counterfeiting, and so
46:43on. It's a massive pendulum swing, utterly without precedent in human history, that people who have
46:51moral sensitivity, and I was, of course, around and gave speeches in the early days of Bitcoin,
46:57and people really cared about the world. They really cared about,
47:00like, I got cheers when I did my speeches on how Bitcoin would end war. There's a huge amount of
47:05compassion and empathy in, I don't know what the scene is now, but certainly back in the day,
47:12it was very much about that, and that was something to be enormously celebrated and
47:17loved and respected and treasured, really. So, the sensitive, the moral, and the intelligent
47:25finally are getting their day in control of capital. Finally, finally, finally.
47:35The most humane, empathetic, sensitive, and moral
47:39economics theory is the Austrian school. It's the Austrian school.
47:49Because it actually cares about those who earn fixed incomes, and it has property rights,
47:53which are human rights at its core, and it resists the conception that anyone can handle
48:02the near-infinite power of money creation and the control of interest rates.
48:08And it's not even a close second. Keynesianism is institutionalized sociopathy.
48:14Mixed economy stuff is just wanting to have enough livestock to pillage. Communism is
48:19when deformed freaks make it legal to be normal and kill everyone who looks healthy. That's an
48:25old meme. And I talked about this in my documentary on Poland, that in Poland, when the Nazis came in,
48:36they killed everyone who was intelligent, they shot everyone in classes, killed the doctors
48:40and lawyers. To decapitate the high IQ aspect of the population is to destroy it for centuries.
48:45When the very intelligent and creative and productive fled Spain after the hyperinflation
48:53that came when the gold was discovered in the new world, Spain went into a fairly desperate
48:58depression slash recession for 400 years. Because it takes millions of years to develop
49:06very intelligent brains, but they can be blown apart with one bullet.
49:09So, in Poland, the Germans came in and killed the intelligent out of resentment.
49:19Because the hatred of the intelligent by the less intelligent is bottomless and profoundly
49:27and horribly energetic sociopathic force in human history. And then the Russians came in
49:36to Poland and did the same thing, shot whoever was left over who made it through the first wave
49:41and decapitated the smart people in Poland. So, the smart people have always been running
49:53from the violent people. The smart people who were sociopaths are constantly
49:57using the less intelligent violent people in their wars.
50:01But Bitcoin is those who follow the most empathetic, humane,
50:09moral and sensitive economic system, which is Austrian economics, saw this 10 light years off.
50:17Saw this potential 10 light years off and stake their claims on the moral universe of anti-theft
50:28and anti-exploitation called the blockchain.
50:36I mean, the blockchain really is the cemetery of sociopathy. The blockchain
50:46is where you can keep your property against all theft, personal and institutional.
50:57So, finally, for the first time in human history, the sensitive, the moral, the intelligent, the wise,
51:08the caring have been able to stake their claim on the most permanent and uncorruptible
51:17swath of human capital that will ever exist, ever, ever exist.
51:23And we'll see what happens when brilliant, nice people finally have control of significant
51:29proportions of the human economy and human capital. And I suspect it will be a golden age,
51:35the likes of which we cannot even conceive of yet. Although I gave it a good shot when
51:39I wrote my novel, The Future, which you should check out.
51:45All right.
51:53It's already getting dangerous, even for the rich like that CEO from UnitedHealthcare.
51:58Yeah, I mean, well, people have voted to let criminals out and...
52:08freedomain.com slash donate, by the way, if you find what I'm saying to be a little bit
52:13freedomain.com slash donate, by the way, if you find what I'm saying to be of utility and to be a
52:25value, and if I have said things of utility and value in the past, freedomain.com slash donate.
52:31And yes, I do take Bitcoin, but only five at a time, obviously, just kidding. All right.
52:43I've been listening to a number of older podcasts with the search Austrian today. Oh,
52:51yeah, my Austrian. Yeah, those were the necessary reading to get the PhD lesson. I'm good.
53:02Oh, this is Keane's. Nevertheless, the theory of output as a whole, which is what the following
53:08book purports to provide, is much more easily adapted to the conditions of a totalitarian state.
53:13Then it's the theory of the production and distribution of a given output,
53:15produced under the conditions of free competition and a large measure of laissez-faire. The theory
53:20of the psychological laws relating consumption and saving, the influence of loan expenditure
53:25on prices and real wages, the part played by the rate of interest, those remain as necessary
53:29ingredients in our scheme of thought. Yes, Keanesianism requires totalitarianism. Yeah,
53:38for sure. Freedom is possible on Earth, even if we don't make it to Mars anytime soon. Bitcoin
53:46allows this. Yes, that's right. That was an amazing spontaneous speech. I donated before,
53:50but I'll have to donate again. You donated before the stream. Well, thank you, Matt. I really do
53:54appreciate that you guys make it worthwhile to do some of this quite challenging work. And I really,
54:02really do appreciate that very, very, very much and humbly accept your kindness.
54:11All right. Sorry, I think I missed a question or two. Let me see here.
54:21I did a good call and show today about a woman who wants to confront her mother.
54:26This poor woman, it's a public call, so it's fine. This poor woman had an adverse childhood
54:31experience score of nine. Of nine. Man, it was an interesting but tough call.
54:41Hello, Krasenstein. Hello, Jody. Hello, Occupy.
54:46All right. Well, it's been a pretty Bitcoin-heavy show, right?
54:55And that way we can actually put out a show title and it's not like,
54:58you know, five to eight percent of the show as a whole. If you have any other
55:02questions or comments or issues, I'm very, very happy to hear that.
55:07It's so funny how Elon Musk, well, not funny, I suppose, but it's interesting how Elon Musk
55:15is so desperately afraid of governments that he wants to get to Mars. I'm not saying he's wrong.
55:19I'm just saying it's pretty wild. Like, why do you think he wants to get to Mars so much?
55:23So he can watch the orb.
55:28But he doesn't talk much about Bitcoin, I don't think. I don't think he talks much about Bitcoin
55:32at all. Have we had a no-donation stream? I guess everyone's still a gog. Yes, we have. We've had a
55:40no-donation stream. Well, I'll give you guys another second or two.
55:46Yes, if you want to send me a message, host at freedom.com. And don't forget, you can go to
55:51freedom.com slash call to book a public or a private call-in, depending on what you like,
56:02depending on what works for you. All right, let's see here. I'm not getting my questions anymore.
56:09All right, let's see here. I'm not getting my questions anymore.
56:15He's mentioned Doge a few times. Yeah, yeah, for sure.
56:20When I listen to a call-in show, it seems like you hang up too quickly and I feel disappointed.
56:25Why do I feel that way? Well, I would assume, my friend, and thank you again for dropping by,
56:28as always, I would assume that you feel disappointed because those are the kind
56:32of conversations you want in your life. Those are the kind of conversations you want in your life.
56:37And therefore, when they end, when I'm having a call with people and we're talking about sort of
56:43deep and real and powerful things, moral things, then what happens is you then return to perhaps
56:50the shallow, somewhat empty conversations that may be more the norm in your life, so you want
56:54them to continue so you don't have to close the gap from your own personal life. That would be my
56:58guess. You donated on free domain. All right, well, thank you. I appreciate that. I do, I do,
57:07I do. Let me just see. I'm sure you are correct.
57:20Thank you, thank you, thank you. I appreciate that. All right, let's just look for any last
57:24questions or comments. I am recovering from something, so I'm not going to do a super long
57:30show tonight. I'm a simple man with a simple plan. All right, let's do one last check here.
57:52Oh, yeah. Yeah, it's kind of funny. Pamela Anderson looks fine for being in her 60s. My gosh.
58:03Crazy. People getting upset about that. Crazy, man.
58:12Now, that's not the case. We definitely have some comments in here. Why am I not getting comments?
58:18No? All right, let me close this down, come back in, and let's look for comments.
58:28Yeah, no comments coming in. All right, let me just—so, I will, for some reason, I'm not getting
58:34any comments here. I don't know why. It says no one has left a comment, and I know that I saw
58:40comments earlier. Let's see here.
58:47So, since I can't see the comments, I will stop here, but I really do appreciate
58:51your time, care, and attention tonight. If you find what I'm saying to be of value,
58:55freedomain.com slash tonight really, really would help, and humbly appreciate your support.
59:01Lots of love from up here. I will talk to you guys Friday. Maybe I should be back at the studio
59:04Friday, but sitting is a little uncomfortable. So, I will look forward to that conversation,
59:11and keep your questions and comments coming. freedomain.locals.com, great community.
59:17Subscribe, sarah.com slash freedomain also gets you to a great community,
59:20and lots of love from up here, my friends. Take care. I'll talk to you soon. Bye.