Stefan Molyneux
  • 2 days ago
FLASH BITCOIN LIVESTREAM 25 February 2025

In this episode, I analyze the recent Bitcoin price drop and its causes, including a $1.46 billion hack on Bybit linked to North Korea's Lazarus group. I discuss the impact of declining U.S. business activity and evolving tariff policies on market stability. Additionally, I explore the trend of Bitcoin ETFs facing outflows and how hedge funds are navigating the market. I highlight geopolitical shifts and the potential effects of government layoffs on the private sector. Finally, I emphasize the need for vigilance in understanding the interconnected financial landscape.

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Transcript
00:00Well good afternoon everybody, it's Stefan Molyneux, it is 1.30ish on the 25th, and we're going to talk Bitcoin economy, what's going on, for those of you who haven't noticed, what are we at now, it was a little jaw-dropping even for me,
00:24Bitcoin has gone down Canadian almost $11,000 or almost 8% in a relatively rapid pace, 1.33 down to 1.24 and change, it seems to have found a bit of a bottom and it's going back up again, but I thought it was worthwhile talking about what might be going on,
00:46of course usual caveats apply, I am not an expert, I'm not an economist and this is all nonsense opinions and don't make any financial decisions based upon what I'm saying, talk to an expert or consult your own conscience or I don't know, roll some dice and read some tea leaves, consult a Ouija board, but just don't take any advice from me.
01:10So let's go over some of the facts, I talked about this a little bit on the weekend, so Bitcoin dips, this is from as of yesterday, Bitcoin dips to 95k amid bybit hack and Fedrate uncertainty, so there's basically three things that are going on, Fedrate uncertainty, well four, Doge, Fedrate uncertainty, the tariffs are going back on,
01:39and the tariffs are back on, bybit hack, Fedrate uncertainty and Doge, so we'll get into those, we'll start with the hack on Friday, Dubai, sorry I could speak, I really promise you I could, I used to be quite good at that, Dubai based crypto exchange bybit suffered a staggering 1.46 billion dollar hack,
02:02the largest crypto heist in history, analysts have attributed the hack to North Korea's infamous Lazarus group, stolen over 6 billion in digital assets since 2017, reportedly funneling the proceeds into the country's ballistic missile program,
02:18so mostly Ethereum, referred to as Ether, I'm not sure why in this, stolen assets, mostly Ethereum, have been converted into Bitcoin, likely using unregulated services such as EXCH, and they mix and obfuscate from there on, so they're shifting assets away from Ethereum, which is more directly impacted by the hack to Bitcoin,
02:45recent data shows a slowdown in U.S. business activity with the S&P Global U.S. Services PMI dropping to 49.7 in February of 2025 from 52.9 in January, the dip was counter to expectations that it would rise by 53 and is an indication of economic contraction, meanwhile the Fed remains cautious emphasizing the need to mitigate inflationary pressures, factors such as persistent inflation, government cuts, and tariffs are complicating economic conditions, increasing volatility in traditional and crypto markets alike,
03:14now I hadn't really been keeping track of this because the tariffs were threatened against Europe and against Canada and against Mexico, and then it looked like, at least from what I could read, Mexico and Canada kind of crumbled and agreed to deal with fentanyl issues and trade imbalances and so on,
03:36yesterday, so this is February 24th, President Donald Trump indicated during a joint press conference with extremely creepy French President Emmanuel Macron, tiny bit of editing there, previously delayed 25% tariffs on imports from Canada and Mexico are set to move forward as scheduled,
03:55these tariffs were initially announced of course on February 1st, delayed by a month to March 4th after negotiations with both countries had been paused following commitments from Canada and Mexico to enhance border security measures addressing illegal immigration and fentanyl trafficking,
04:10so Trump's comments suggested that neither country, Canada or Mexico had met his administration's expectations sufficiently during the 30 day pause, with him stating the tariffs are going forward on time, on schedule, this means that they could begin as early as next week, potentially March 4th or shortly thereafter,
04:32his remarks were somewhat ambiguous leaving open the possibility he was also referring to broader reciprocal tariffs planned for April, although the context strongly pointed to the Canada and Mexico duties, so this stirs market reaction reports from ex-posts noting a drop in the US stock market, particularly the S&P 500,
04:51Canada and Mexico have previously threatened retaliatory tariffs, Canada with a proposed 25% levy on $155 billion worth of US goods and Mexico preparing its own measures if the US duties are imposed, the situation remains fluid as Trump did not provide definitive details on exemptions or exact timing beyond affirming the tariffs are proceeding, uncertainty as the March 4th deadline approaches,
05:21so we'll get into what this all means as a whole, but Bitcoin ETFs see $516 million outflow amid continued investor retreat, February 24th Bitcoin ETFs experiencing a net outflow of almost half a billion dollars, other ETFs shedding $78 million, major funds including Fidelity's FBTC and BlackRock's IBIT led the downturn reflecting a negative sentiment among investors,
05:49investor sentiment in the crypto market continued to nosedive with both Bitcoin and Ether ETFs experiencing significant outflows and so on, right, so we can understand all of that, a major negative shift in investor confidence, more market volatility and the enforcement of tariffs.
06:11So hedge funds playing both sides, the theory is that hedge funds purchase ETFs at the same time as they short futures on the CME, this alone probably wouldn't cause a market crash, significant downward pressure on the price, the buy bit, the tariffs, economic uncertainty and so on that is happening, so the theory is when hedge funds pour money into spot Bitcoin ETFs, they're buying Bitcoin in the open market through the ETF issuer like BlackRock or Fidelity,
06:37this ramps up demand for actual Bitcoin which should in theory nudge the spot price up and it has, ETF inflows have been massive with billions flowing in recently but instead of letting that price climb run wild, these funds turn around and short Bitcoin futures on the CME, shorting means they're borrowing Bitcoin or its contract equivalent and selling it now betting they can buy it back cheaper later when the contract expires.
06:59Now, each CME contract is 5 Bitcoins with net shorts hitting record highs, 18,175 contracts, that's a ton of selling pressure, it's about 91,000 Bitcoin worth at today's prices, so this shorting floods the futures market with sell orders which drags the futures price down.
07:17Of course, the kicker is spot and futures prices don't move in lockstep but they're tightly linked, big traders, algorithms and arbitrage bots watch that futures price like hawks when it dips below the spot price, a situation called backwardation, it's probably going to be what replaces the word retard over time, these players sell spot Bitcoin to lock in the price difference pushing the spot price down too, it's a feedback loop, futures tank, spot follows, plus if the market smells a big short position, it can spook retail holders into panic selling,
07:45amplifying the drop.
07:49So, that's the general facts as a whole.
07:57Well, Saylor of course is in there, El Salvador is buying Bitcoin, Saylor is buying the drop, billions of dollars but people, a lot of people aren't buying the dip.
08:11Mike Alfred on X wrote, when Bitcoin first broke above 100,000, millions of people would have given anything to roll back the price of 92k or 88, to buy some but now that it's actually happening, exactly zero of them will do it, this is why people are poor, thanks for attending my TED talk.
08:25It's easy, Vivek wrote on X, while you were scared, Wales just bought 2.5 million dollars worth of Bitcoin, so that's important too, this is exactly what the beginning of 2017 felt like and so on.
08:49And of course, Inverse Kramer is a very funny account on X, Inverse Kramer, the year is 2040, one egg is now more expensive than one Bitcoin, a starter home costs 10 million dollars, Elon Musk has 40,000 children, Ethereum is still trading at 2600 dollars, that's kind of a joke, it's been on there forever.
09:17Bitcoin for Freedom wrote, imagine working 9 to 5 for 50 years and the thread prints 80% of the total money supply and inflates away 40 years of your work.
09:25And of course, Peter Schiff, I love the sound of a Bitcoin crash in the morning, well he's happy with gold, I can understand where that's coming from.
09:35Alright, so that's the general facts as a whole and let's get into my Freeform, Freebase, Freeball analysis time.
09:49And it goes a little something like this, so the reason why the tariffs are important, the reason why Trump being in there is important is that the Anglo sphere, the sort of white western European sphere, with the exception of Mexico to some degree of course, the white Anglo sphere is cracking.
10:09So all of the latent tensions between say Europe, Canada and America which have been considerable, Europe is sort of the wounded grandfather and Canada often acts as the hyper aggressive, hyper competitive, resentful and doomed to fail younger sibling, younger brother and America just kind of plows on forward despite all sabotage particularly over the last administration.
10:37So there is going to be a massive realignment of the economy, some good, some bad, all economic changes have winners and losers of course as you know and all economic changes start off with losers.
10:51Right, so when the car is introduced people will stop investing in horse and buggy manufacturers but they don't exactly know which car manufacturers to invest in.
11:06So whenever there is an economic change, value is reduced as it gets reallocated.
11:12Right, so the example would be you suddenly need to repair your car, right, and so what happens is your car repair costs a thousand dollars and you go to the bank and you withdraw your thousand dollars, that's a net loss.
11:28And then you have to I guess not drive but walk over to the car dealership to get your car repaired and then you give them the thousand dollars but there's that time where there's been a change, your car is broken and there's a net reduction in the economic value because the thousand dollars is in transit.
11:44So when there has been America the mega-cuck, right, that's been the sort of traditional thing that's been going on, America hands out, you know, hundreds of billions of dollars in foreign aid.
11:58America swallows these massive trade deficits, America funds the protection of Europe, America throws its weight, wallet and money and influence around with various color revolutions and cattle prod interferences in general democracies.
12:15And so that has been the sort of stable situation ever since really, I mean, the seventies, rise of the neocon era and so on.
12:25And so that is what people are investing in.
12:27Now Trump, by being focused on America first, what's going on?
12:32This is why I mentioned the doge thing.
12:33So doge thing is interesting.
12:34The doge thing is resulting in a massive change in the economy as a whole because in the long run, tens or hundreds of billions of dollars are going to be withdrawn from certain areas and that's going to cause economic losses.
12:47I mean, the fact that people's shows are getting canceled after USAID was revealed to be funding a bunch of media outlets, probably not entirely unrelated.
12:55So there's going to be a massive reallocation of funds.
13:00So let's just take a silly example, which would be you invest in mosquito netting, but then the amount of foreign aid being poured into Africa, which has been trillions and trillions of dollars, it's just crazy, like 45 Marshall plans went into Africa.
13:12It's a hole with no bottom.
13:14But you invest in mosquito nets and then USAID is put under spending review and then foreign aid to Africa goes down.
13:21Some of that foreign aid was used to buy mosquito nets.
13:23So you don't want to invest in mosquito netting anymore.
13:25And the first one to realize that gets out before the price goes down.
13:29So what is happening is there's been a huge realignment in the economy with Trump, Musk and doge, wherein as a whole of economic uncertainty.
13:38Right.
13:39So are some of these contracts going to be reestablished because there's going to be lawsuits?
13:43Maybe.
13:45How much money is actually being saved?
13:47It's hard to tell, but there is a massive realignment.
13:50Money, tens or hundreds of billions of dollars that were flowing in one direction are now going to go where?
13:56Are they going to pay off the national debt?
13:57Are they going to get the $5,000 per head check that is under contention or proposed by some members of the Trump administration?
14:04We don't know.
14:07But it certainly does not seem to be going to the place that it used to be going to.
14:11So there's an economic dislocation.
14:13And what happens is people dump the stocks that are supported by USAID or other kinds of spending.
14:19They dump those stocks and they don't know what to invest in.
14:22So there's a net drop in net economic activity because people are just holding on.
14:29You don't know.
14:30Right.
14:31You don't know.
14:33It's sort of like you get lost in the woods and you stop and you look around.
14:38But you don't know where you're going to go yet.
14:40Right.
14:41And so there's a whole bunch of economic reallocation.
14:44What's going to happen in Europe if there's a potential end to the Ukraine-Russia war?
14:51That's going to also change things economically.
14:53If America starts to withdraw its economic support of defense in Europe, then Europe is going to have to change its policies significantly.
15:03And one of the reasons that Europe is dealing with some of the migration issues is because America has taken over its military defense to a large degree.
15:13And therefore, they have more money for the welfare state that tends to attract a lot of migrants.
15:17So that is also going to be a significant reallocation.
15:20If America is no longer driving this kind of stuff, will European states, and I'm thinking France in particular, but others as well, will European states have to deregulate to some degree?
15:33In other words, if America starts deregulating, which really is a big goal of Trump, it was in his first term and it's even more so in his second term,
15:40then it's going to draw a lot of talent and capital and investment to America at the expense of Europe at the time when European bills are going up because America is pulling back from its defense commitments.
15:50And so Europe is going to have to deregulate if it wants to stay at all competitive.
15:55I don't know, Europe is hell-bent on suicide these days, so who knows?
15:58But if they do want to survive, they're going to have to deregulate.
16:01Now, if Europe deregulates, all of the companies that have adapted and to some degree, quote, prospered on massive amounts of regulation are going to face more competition.
16:13And therefore, the larger, bulkier European companies are going to be less competitive and they'll be, you know, it's dinosaurs versus the mammals, right?
16:22The mammals are way smaller but way more nimble and end up flourishing in the long run.
16:25So with deregulation, again, people will see these big prompt up through regulation, large corporations in Europe and they'll say, well, if the deregulation comes along, then smaller companies will start nibbling away at the market share.
16:38So we'll sell the big companies but we don't know which small companies to invest in yet.
16:43So again, there's just a pause, there's a holding and that looks like lower economic activity.
16:48The other big question with Doge, which is very interesting, is if you just look at the cuts in government workers, right?
16:58They're aiming to cut a lot of government workers.
17:01Now, the big question is for investors, I think, is something like this, are they going to get jobs?
17:10It's a big question.
17:12If the government workers are competent, efficient, and hardworking, they're probably going to stay.
17:18So the people who are shared the most are the people who are going to be least attractive for people to hire in the free market, in the private sector, right?
17:27So if there's some, you know, 50-year-old, pear-shaped, spotty-bottomed doofus who's been treading water and pushing paper for 30 years, do you want to hire them in your startup?
17:38Well, probably not because they're going to be resentful, they're going to be resistant, they're going to be lazy and entitled and so on, right?
17:46So are they going to want to work for significantly less money and benefits, which generally happens in the free market?
17:51Are the people let go of the public from the public sector?
17:55Are they going to be hireable?
17:57Now, if they are going to be hireable, then what's happening is you're reducing the cost of government and you're increasing the efficiency and productivity output in the free market.
18:04That's going to be good for the economy.
18:06If, though, they're going to live off their savings or they can't get jobs or whatever, then they will not be contributing to the economy in that way.
18:15And I think that investors are probably waiting to see what happens with that.
18:19Now, the other thing, of course, the tariffs are an indication of a breakdown in negotiations.
18:25So that's really important, right?
18:28So if, let's just take, forget Europe for a second, we talked about that.
18:32So if we just look at North America, right, like Canada, US, Mexico, the hope was that Trump would threaten tariffs and they would say, oh my gosh, that's bad.
18:42What do you need?
18:43And they'd work something out, right?
18:45Now, if the tariffs go forward, that's because these three trading partners can't negotiate, their governments can't negotiate.
18:55If the governments can't negotiate, that means that there's a lot of hostility and politics involved in the relationship.
19:03Now, if there are a lot of politics, hostility, immaturity involved in the relationship between three of the world's biggest trading partners, that's going to really realign the economy.
19:14Because you're not going to get the kind of division of labor and cross-border efficiencies and so on.
19:24That's all going to start to fall apart with these tariffs, right?
19:27So, of course, a lot of US and Canadian companies and Mexican companies have aligned themselves along this.
19:35America doesn't look out for its own interests and it's easy to take advantage of, which Trump has been complaining about since the 80s.
19:42Now, if America does start looking out for its own interests and say, we're no longer interested in trade deficits, we're no longer interested in partnering with people who keep sending their worst people over the border to sit on our welfare state,
19:55then you are setting yourself up for a situation of significant economic realignment.
20:04So, the companies that are easily selling into the Canadian market are going to lose some access to that market.
20:11And they're going to have to realign who's going to make it, who's not going to make it, who has the experience.
20:15I mean, America has allowed itself in many ways to be economically exploited for decades after decade after decade, really, I mean, it's post-Second World War period, starting with the Marshall Plan.
20:25But America has allowed itself to be, you know, bent over and economically railed for decades.
20:30And that's how the European economy, to some degree, of course, the Chinese economy, definitely the Mexican and Canadian economies have just gotten used to winning against the lax lack of American self-interest in America first policies.
20:47So, with Trump coming in, the breakdown of negotiations, it's like they can't reason together, so it's going to escalate.
20:55And if it's going to escalate, that means that there's going to be a significant amount of anti-American nationalism and also anti-Canadian and anti-Mexican nationalism.
21:09And it means that the economic dislocations are going to be much faster, which creates more uncertainty, which means people are going to sell, I assume, trades or shares in the companies which are profiting from the current situation.
21:22And they won't know who to invest in, right?
21:26If there's some race and the fastest runner drops out, you don't exactly know who's going to win, right?
21:36So, I think that there's a certain amount of uncertainty with regards to that stuff as well.
21:45And it is a very wild time to be around with regards to this stuff.
21:53Alright, let me just make sure I get your questions here because it does not seem to be updating.
21:59Alright, so let's get your questions and comments. I have more to talk about, but let's just get your questions and comments as a whole.
22:08I panic on the dips, then bye. Love the ride.
22:13What do you think of inheritance from estranged abusive parents?
22:18On other hand, feel like accepting compensation and could really need it. On other hand, view it as bad money.
22:28It's not a violation of the non-aggression principle, but it may not make you very happy.
22:34Somebody wrote on X, I've heard that you have to lose 80% of your net worth three times before you stop feeling the pain.
22:41That's funny, that's funny.
22:47Alright, great time for this live stream to listeners in Europe. Excellent, excellent, excellent.
22:54Okay, let's see here.
22:58What about people selling who can't afford to take a loss?
23:02People take, he looks and similar to speculate. I don't really understand that. My apologies.
23:08I wonder if all the laid off government workers are selling off their Bitcoin. I don't think so.
23:13The other thing, you know, government workers, because they live in such a bubble and they're so isolated from market forces.
23:20Government, it's interesting to see, and this is really post-COVID in particular.
23:25When they try to pull the sympathy card, like, oh, these are real people, they got mortgages, they're very sad, it's upsetting and so on.
23:35When they go on social media and they see the rage, hostility, contempt and scorn that they're heaped with.
23:43I think a lot of people in the public sector are going through a real shock when they're seeing how much people hate them.
23:50Right?
23:52It's really, it's tough, like, we can get mad at it and all that.
23:56I'm just telling you from being on the receiving end, that's really tough.
24:01It's really tough to realize that you just kind of hate it.
24:05And when people say, oh, you know, but my income, blah, blah, blah.
24:08And people are like, well, hang on, we've been taxed and you guys aren't even really doing anything.
24:12Or all of the government workers who are complaining that they have to write a five minute email detailing their accomplishments from last week.
24:21The idea that that would be upsetting.
24:23My God, I loved talking to my boss about the things I was good at, the things that I was doing.
24:28I was dying for that.
24:30I was really keen to get that kind of stuff done.
24:33So what can I tell you?
24:36So people are going to go through a real crisis of realizing that they kind of hate it.
24:42And of course, you know, the fundamental thing that's going on as well is people are upset that they're losing their jobs or might lose their jobs.
24:53But of course, these are a lot of the same people who wanted everyone else to lose their jobs because they didn't take the joy, joy, mystery juice during COVID.
25:01Right?
25:03A little tough, right?
25:05Unfortunately, they have laid their bed and now they need to lie in it, which is they wanted people to lose their jobs and lose their freedoms for the sake of the COVID shot.
25:21Which has since been proven, of course, to be highly questionable, to put it as mildly as possible.
25:27So people complaining that they're losing their jobs in the government now and in the media when the media was baying like a bunch of hungry hyenas to tear apart anybody who didn't want to take the mystery shot.
25:39Well, nobody like the good news is now that that stuff doesn't work anymore.
25:43Like people don't care.
25:45It's just like it's just it's open and transparent and ridiculous manipulation.
25:50And of course, the media and the left wing people want there to be people in the government because people in the government as a whole regularly vote for more government.
25:58Right?
25:59It's sort of like somebody to go from the government to the private sector is like a woman going from being single to being married.
26:06It just makes them go more to the right because when you're on the paying side of the tax equation, you want smaller government.
26:13When you're on the receiving side of the tax equation, you want larger government.
26:17And of course, they'll talk about racial disparities in the firing and so on.
26:22But two thirds of black women with degrees work for the government.
26:26It's wild.
26:27Well, somebody says something that's been on my mind over the past few days has been the sheer ungratefulness of Europe.
26:32They constantly crap on us for, of all things, having a militaristic society.
26:36But then when we even float the idea of not being Europe's primary defense force, they freak out about how it's our duty.
26:42They depend on us in so many ways, yet talk down to us.
26:45It only makes me want to abandon them more.
26:47Well, the American subsidy of the US, sorry, the American subsidy of the European social welfare state has been one of the greatest disasters in human history.
26:56And I'm not, to me, that's not even hyperbole in any way, shape or form.
27:00It's been one of the greatest disasters because it has removed them from fiscal reality.
27:05It has removed the control of the people over their government.
27:11And it has allowed them to tinker around in massive, ridiculously expensive social programs to the detriment and possibly even to the survival of their cultures as a whole.
27:20So this is absolutely terrible.
27:23But I understand that free money is a debt, is a drug.
27:27Free money is a drug that's pretty hard to let go of.
27:33And so I understand the sort of kicking and resisting and so on.
27:36But, you know, the amazing thing about the modern world, the amazing thing about the modern world, at least I would say over the last two years or so, is that the guilt and manipulation is stopped working.
27:50It doesn't work anymore.
27:53It's wild.
27:55Because the counterexamples are so wild.
27:58Like, so people complaining about Kash Patel and Dan Bongino being head and assistant head of the FBI.
28:06Well, are they really qualified?
28:08It's like, well, there was that bald guy in the dress who kept stealing women's luggages at airports.
28:14And Pete Buttigieg was not particularly qualified and so on, right?
28:18So it all is just so transparently manipulated.
28:24All of the people who were saying, but all of these government workers, where are they going to get their jobs?
28:32And then, of course, people just play back stuff like, well, you know, if you're a manufacturer and you lose your job because of the Green New Deal, you can just get a green job.
28:40Or you go even further back, just learn to code, right?
28:42Because that was one of the funniest things.
28:44I talked about this in a show the other day.
28:46But it's one of the funniest things, really, that has happened in the modern world.
28:49In the sort of, obviously, Dr. Strangelove, Black Humor Department, is all of the reporters who just said, well, just learn to code to all of the people losing their manufacturing jobs.
29:03But then when the reporters' jobs were threatened and people tweeted at them that they should just learn to code, they often would report that as targeted harassment and be highly offended that their own advice.
29:15Was bouncing back on them.
29:17And, of course, it's easier for a reporter to learn to code than a guy who's been working with his hands for 30 years to learn to code.
29:23Because, you know, you already have a computer of manipulating abstract symbols.
29:27None of this stuff is working.
29:30And this is really powerful.
29:32It's really powerful that none of these manipulations is partly social media and also partly just the accumulation of hypocrisy is so inescapable now.
29:40But it is a wild thing to see.
29:43I don't know.
29:45It's sort of like, I don't know if you've ever been in a relationship.
29:49Let's make it personal, right?
29:50Let's make it personal.
29:51I don't know if you've ever been in a relationship where one day you're just looking at someone who's like, and another thing, just nagging or whatever it is, complaining and bitching and moaning.
30:02And you're just like, I don't believe you.
30:06Like, it just, bing, there's a silver cord that just snaps, right?
30:12There's a silver cord that just snaps.
30:14And then you just don't believe people anymore.
30:16They go from like, okay, maybe, maybe, maybe, yeah, yeah, yeah, you've got a good point, to just, bing, no credibility, you're a complete manipulator, everything you say is a lie, even the punctuation.
30:26Right?
30:27So, I don't know if you've had that experience.
30:29I've had it a few times in my life where I just look at someone and I say, my God, you never tell the truth.
30:35Everything is a manipulation.
30:36Everything is gaslighting.
30:37Everything is a maneuver.
30:38There's nothing real, nothing authentic, nothing genuine.
30:40And it's usually when you catch people in blatant moral contradictions.
30:44And so, that has really been the most amazingly healthy thing that has happened as a whole.
30:52In Germany, it still seems to be prey to it.
30:54But, but, the failure and collapse of moralizing is just wild.
31:08All right.
31:09Hello.
31:10First time catching yourself live.
31:11Listening since 2012-ish.
31:13Thank you for being a great resource for myself to grow from and for your contributions to the world.
31:18I appreciate that.
31:19Somebody says, biggest dip to buy from all markets ever is unvaccinated women to marry before the jab's consequences are widely recognized.
31:26That's interesting.
31:27Yeah, it's a freeing experience when you just look at someone and you say, damn, I'm never going to get the truth from you.
31:33And it's just amazing.
31:39It is just amazing when that happens.
31:46It's so freeing.
31:47It's so liberating.
31:53From a supporter of Subscribestar, does the United States' global military presence and enforcement of the dollar as a reserve currency counterbalance the exploitation of trade deficits?
32:02Interested on your thoughts in that regard?
32:05In other words, we escape some of the effects of money printing by forcing demand globally and thus allowing other countries to exploit the American people by their other countries' acquiescence.
32:14So, of course, enforcing the global reserve currency of the United States artificially inflates the American economy.
32:23So you're right.
32:24It's a very good point that there's a mutual, right?
32:26There's a mutuality to it.
32:28So taking over the defense and allowing trade deficits with other countries benefits those other countries.
32:34But at the same time, enforcing the reserve currency status of the US dollar artificially inflates the value of the dollar, which artificially inflates the value of the US economy as a whole.
32:45And so, yeah, the big goal, you know, if Doge gets in, and I don't know what's going on at the moment with this, it kind of comes and goes.
32:57It's like one of these mirages at a great distance kind of shimmering in and out of existence.
33:02But, of course, if Doge gets into the Pentagon, well, there's a couple of things.
33:12So if Doge gets into the Pentagon, and if Doge plus the new DOJ is going to be able to go after the fraudsters who ripped off hundreds of billions of dollars over the course of COVID, that's going to be something.
33:27Because a significant amount of the US economy, a significant amount of all status economies is based on pillaging the shit out of the government, like just ripping off the government like crazy.
33:40That is a very large proportion of the economy.
33:44If Doge gets in and sort of cuts forward waste and abuse, then there's going to be a massive amount of economic shifting.
33:50And some of it is straight up fraud, but some of it is not.
33:54So let's say that America stops being the world's policeman and starts to withdraw its forces from around the world or its military commitments around the world, stops running all this foreign aid, color revolution stuff.
34:06Well, what happens to the economy?
34:09There's going to be massive shifts because wherever the money goes, it's like dumping sugar in a field.
34:16That's where the ants are going to go.
34:17So wherever the money goes, people follow.
34:20And the economy aligns and configures itself along those lines.
34:24And so when the money shifts, it stops here, it stops going over there.
34:27Maybe it's just saved, or maybe it goes to pay interest or the debt.
34:32When there's a big shift in money, and the Trump administration is a big shift in money.
34:38If they find out what's really going on with the Pentagon and spending, I think it's going to be pretty tough for the war machines to keep going at their rate.
34:49If the war machines don't keep going at their rate, the current rate, then there's just going to be a massive change in the economy.
35:00And it's going to hurt first.
35:02You stop all addictions, you get a lot of benefits, but it sure as shit hurts first.
35:08The withdrawal and the pain and the agony.
35:10So it sure as hell.
35:15When Doge starts going after those massive defense industry contracts, oh man, yeah, it's going to be really wild to see.
35:22I mean, I think people are deeply shocked at how little of their culture is a free expression of people's personal beliefs.
35:31And how much of what they call their culture is just astroturfed money and paid propaganda.
35:39I mean, I was talking about this the other day.
35:41Just how much money is hundreds of millions of dollars being spent to promote concepts of racism and so on.
35:47It's like, okay, so how much is racism an issue if it's not funded domestically to the tune of hundreds of billions of dollars?
35:53You know, hundreds of billions of dollars, sorry, hundreds of millions of dollars, hundreds of millions of dollars, sorry to correct.
35:58That can buy you a lot of allegiance and a lot of seeming agreement, right?
36:11And what is the situation that happens when the left is no longer being paid to do these entirely artificial, quote, riots and protests, right?
36:26If they're not paying people to do that, you actually might get a sense of what people actually believe, right?
36:32Like you never meet the actual person when they're in the throes of addiction, right?
36:36Because all you do is you're meeting somebody who's either high or scheming to get high.
36:40So you don't actually meet the person in any authentic or genuine way.
36:44And people have not met the real economy.
36:49Hopefully they will.
36:50Hopefully they will.
36:52But, and they certainly haven't met the real culture and most people have no idea what other people believe.
36:59Right, I mean, I was reading about like was it 83 or 84 of the global warming studies, you know, had significant conflicts of interest that were not identified, right?
37:19And so who knows what it really is, right?
37:22Who knows?
37:23Who knows?
37:24Let's see if I can dig it up.
37:25I think I did.
37:26Ba-do-do.
37:27No.
37:28All right.
37:29Let's just do any of the last questions or comments.
37:30I just wanted to dip in and say hi.
37:31Of course, thank you for your support.
37:32And everything of all of that.
37:34Bye.
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