About the latest events relating the US economy is Bitcoin analysis among all the banking crisis and regulatory and cbdc Fear, current position, and what he expects in the short and long term, as well as his clear cut message to retail investors.If you enjoy this highlight videos, please kindly subscribe, and Help share this video for us to share more of this valuable content.Thank you.Yeah, money is it’s a store of value, a unit of account, a medium of exchange, and then there’s a fourth characteristic that we don’t talk about.It’s, it’s the thing that’s not said, It’s a system of control.So certain monies are easier to control than others.For example, you know, we talked about gold as money, but you ever tried to carry a gold bar through an airport, very heavy.Try it next time.
You know, they Won’t let you through.Right.
In fact, if you tried to carry $100,000 of gold to an airport, not only would you not get through, but the assumption would be you’re a criminal, you stole the gold, and they would just take it and keep it without A court order.Now, try to carry 100,000 hours of cash through the airport, you ever tried out, put it in a bag and just you can put it in a bag and as you’re walking through the TSA check or the the X ray machine, just nonchalantly say to the officer? Yeah, I’m carrying $100,000 of money onto the airplane.
Right, you won’t get through, not only will you not get through, they’ll just take your money.Right? They’ll just take it and the assumption will be you stole it.Okay.So cash is a unit Control.
Now, put $100,000 in a bank and try to wire it to someone or just take it out and they’re going to ask you why 12 is not in their business.Try to send it to someone privately, tell them you just want to send it to a numbered Swiss bank Account.Right? See how that works.That won’t work, right? That’s a system of control.
A couple of stable coins have been getting shut down.Paxos is B USD got a WELS.Notice they got shut down.And custodia tried to launch a bank and they wanted to Issue a that’s a that’s where digital dollars.
And they were digital dollars that were going to circulate on crypto networks.And, and the regulators denied that banking license.And it’s about a 70 page denial letter very articulate.And I read it All I read 1000s I read all of the crypto legislation and all of the crypto litigation.So if you dig into that denial letter, which is very well written and articulate, what is very clear is that is is the regulator say we’re not going to allow the Bank to form because we don’t want to issue someone, we don’t want someone to issue digital dollars that will circulate on crypto networks non KYC.What you know, evading our money law aren’t anti money laundering rules are anti-terrorism roles or Know Your Customer rules.So it’s clear that the regulator’s Reject with prejudice, the idea that you can circulate large sums of dollars without reporting that now, that’s a political football, right? Because a lot of people in this country think that you should own your own money, and you should have financial privacy, and you ought to be able to do What you want with your money.There’s another group of people that don’t agree, right? Ted Cruz is on the side of freedom, you ought to own your own money.
Now, it turns out that if your money’s in a bank, you’re not going to be able to circulate it Freely, it’s controlled.And on the other hand, Bitcoin is the one network you can’t control.You know, Ted Cruz’s famous line is I like Bitcoin for the same reason the Chinese don’t like it.They can’t control it.Nobody can control Bitcoin.So If you’re, if you’re insecure about being able to own your own money, do you own it, and can you actually use it without asking somebody’s permission? Then the solution is not gold is not silver coins, is not stacks of cash.It’s not money in a Bank in the US.It’s certainly not money in a bank and Lebanon, Argentina, anywhere in Africa.
Those banks won’t let you they won’t let you take your money out of the bank.I got a look at Nigeria $42 a day, that’s how much you can take out of the Bank, they’re keeping your money.
So the one network that you have that gives you a decent chance of owning your own money, and then being able to spend it the way you want is Bitcoin.So I’m not worried about Bitcoin.I do think that there’ll be a Massive political fight over CBDCs.There’s a technical challenge.Our government doesn’t know how to issue a cbdc.We don’t know how to issue digital currency.The people that are issuing digital dollars are the crypto currency people, right? You know, Paxos knows how to issue a digital dollar, Right, and regulators sent him a WELS.
Notice saying shut down.So the private market knows how to issue digital dollars.The government doesn’t, the EU doesn’t, the Feds don’t.And so even if they wanted to, they can’t, technically right now, without somebody else’s help.I’m sure the overwhelming Majority of the population is adamantly against it.And I would say, a decent majority of politicians are against it.But there is a fringe wing that wants to impose control over everybody, and they don’t trust anybody.
And, you know, heck, at some point, they would probably like to see how you spent 50 Bucks.And and that’s that’s the control freaks in, in the political sphere.You know, politicians have shown themselves quite capable of interfering in your private affairs and the last three years of showing anything, they’ve shown that people can come up with some justification to tell you how many people can sit at Your dinner table on Thanksgiving.Right.And so there’ll be some of them.I don’t think that politically it’s going to fly in the near term and the next two to four years, I don’t see consensus at the political level to impose a Cbdc.But I think so I think it’s, it’s like that persistent boogeyman where people say, Oh, it’s coming.And the result is, is more interested in the antidote to it.
So I don’t think it’s bad for Bitcoin.I think it’s good for Bitcoin.I do Think we ought to be concerned about money being used as a system of control is very disturbing.Well, I mean, to be clear, I don’t expect it to happen.I don’t think that there is consensus in the Democratic Party or the Republican Party to Implement a cbdc.I don’t think they know how to do it.
I think there’s resistance to it.I, I think that what’s going on right now is there’s a regulatory crackdown on crypto.And so what what what is happening is the administration is is cracking Down on crypto exchanges.It’s cracking down on crypto securities, it’s cracking down on some of the crypto tokens and is cracking down on crypto currencies.And by currency, I mean, a stable coin, like $1 circulating.And I think that that’s creating quite a lot of sound and fury and friction and Anxiety in the industry.I think.
I think it’ll continue.There is no coherent digital asset framework that’s been offered by any regulator.There isn’t any coherent digital assets framework offered by any legislator, we’re nowhere near that, like, there’s not a bill we’re debating that if it gets Voted on will solve the problem.
There is no bill got it.Okay.And so, the, you know, the talk about CBD C’s gets people, you know, quite spun up, rightfully so.But I think the story here is, CBD C’s are going to be a non starter in the free world, And even in the place that’s closest to it is China, I suppose.
And, and so I, I really think that it’s, it’s a it’s a Chinese concept, and I don’t really think in the free world, we want to be like the Chinese.And I think ultimately, both Sides of the aisle will agree on that.They won’t agree on other things they won’t do.They won’t agree on private money.Like for example, probably the Republicans and the conservatives would be in favor of private companies issuing digital currency and letting it circulate.And, and on the other Side of the aisle, they’re a bit more conservative.
And they you know, they would say while we only want banks to issue currency that report to us on every material transaction, but none of the banks were able to issue a stable coin either Signature Bank was unable to issue a stable coin silvergate Bank was on issue unable to issue a stable coin and custodia wanted to be an FDIC approved bank they were unable to issue a stable coin.And and when you ask those banking executives, they said While the regulars wouldn’t let us, if you’re a Voter, you ought to not it should be an acid test.
I don’t think anybody should vote for a politician in favor of a cbdc.I mean, it’s, this is the struggle, you know, control versus freedom.That’s as old as time, right in every society.And, you know, in the human, in the history of the human race, every society, there’s always people that want to impose control on the people.
And there’s another group that won freedom.I’ve been, I’ve been reading conceived in liberty, which is Murray Rothbard.‘s history of the American colonies Before the Revolutionary War.And it’s hundreds of chapters nonstop struggle, someone wants to control a colony, they want to tell you what to think they want to tell you, you know, what, you know who God is they wanted to find religion, they want to impose taxes, they want to seize your property, they Want to tax your property, they want to impose monopolies.
And then there’s another group fighting for freedom.And, and it was going on for hundreds of years before the Revolutionary War.I mean, there were monopolies in New York on who could bake, you know, there were tariffs on using the Hudson River to go up and down the river.There were monopolies on who could trade with the Indians.They would give you land, they would steal your land, they would tax the land, people wouldn’t pay the tax.
They were rebellions, it’s hundreds and hundreds of struggle.So it’s been going on Before the revolution, it’s going on in every country in the world.Today, it’s certainly going on and and if you have any political power, I think the best way to use it is to support those that trust people are in favor of freedom.Because There’s there tends to be or seems to be this never ending tendency of governmental organizations to get stronger.And as they get stronger, they raise taxes, they funnel the taxes into the police state and the control state.And pretty soon, it’s illegal to bake bread, it’s illegal to row up a River, it’s illegal to cross the river.It’s you know, if you have land, you have to pay tax, if you pay tax, it has to double it, you know, the taxes were used used to be we paid tax to pay ministers to, to preach religious beliefs that you Disagreed with.
And if you, you know, if you actually laughed, or kissed your wife on a Sunday, they whipped you, you know, find you and steal your property because you were disrespectful to the Almighty Lord.And I’d like to say it was it was unique And a one time thing, but it wasn’t.It’s it’s kind of the history of humanity.So it’s going on today.It’s it’s reprehensible.And you can see politicians that will articulate that, that message that the people cannot be trusted and the government needs to control everything.Luckily, we’re in Florida, where we where we have a number of politicians that believe differently.I’m hopeful that that we’ll see a backlash to the control tendencies and the political sphere that have have manifested themselves over the past few years.
And cbdc is just one of those touchstones it’s not the only one and won’t Be the last one wasn’t the first one.Thank you for watching the interview highlights of Michael Saylor.If you enjoy this highlight video, please kindly subscribe and help share this video for us to share more of this valuable content.Thank you The Money We Know Is Ending.Michael Saylor Bitcoin Crypto Bitcoin News Bitcoin Crash Crypto News Hello everyone, today our guest is a billionaire American investor and former CEO of MicroStrategy, and the biggest supporters of Bitcoin, Michael Saylor, who in this video talks about the latest events relating the US economy, his Bitcoin analysis among all the banking crisis and regulatory and CBDC Fear, current position and what he expects in the short and long term as well as his clear cut message to retail investors.
If you enjoy this highlight videos, please kindly subscribe and help share this video for us to share more of this valuable content.
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