Bitcoin Versus Political Power

Stefan Molyneux

I've remastered my appearance at The Next Web Europe Conference - April 25th, 2014!  Historically, politicians have always fought for the power to create money out of thin air, so they can increase their spending without having to directly increase taxes. The staggering growth of political power throughout the twentieth century -- the century of war -- was largely made possible by replacing money limited by gold with paper currencies, which can be printed at will by government-controlled banks.  Cryptocurrencies are the first self-limiting monetary systems in the history of mankind, and could be our greatest chance to check the growth of political power since the Magna Carta. Join Stefan Molyneux, the host of Freedomain Radio - the most popular philosophy show in the world - as he reveals the hidden political and military power of government currencies, and shows how cryptocurrencies could be greatest revolution in human history, and the foundation of a truly free and prosperous planet.  FOLLOW ME ON X! https://x.com/StefanMolyneux  GET MY NEW BOOK 'PEACEFUL PARENTING', THE INTERACTIVE PEACEFUL PARENTING AI, AND THE FULL AUDIOBOOK! https://peacefulparenting.com/  Join the PREMIUM philosophy community on the web for free!  Subscribers get 12 HOURS on the "Truth About the French Revolution," multiple interactive multi-lingual philosophy AIs trained on thousands of hours of my material - as well as AIs for Real-Time Relationships, Bitcoin, Peaceful Parenting, and Call-In Shows!  You also receive private livestreams, HUNDREDS of exclusive premium shows, early release podcasts, the 22 Part History of Philosophers series and much more!  See you soon! https://freedomain.locals.com/support/promo/UPB2025

Transcript

00:00All right, the next speaker is a radio host.

00:04He's got millions, I forgot the exact number,

00:06but he'll repeat it for you.

00:07Millions and millions of listeners in Canada and the US.

00:12And the radio station that he's hosting

00:15is called Free Domain Radio.

00:18A warm welcome for Stéphane Mollinier.

00:27You know, it's right, sorry.

00:30Good afternoon, everybody.

00:31Hope you're doing well.

00:32Thank you so much for coming out

00:33to Bitcoin versus political power.

00:36I have a technology background,

00:38which is probably why I managed to slip into the conference.

00:41I was an entrepreneur for about 15 or so years

00:44in the high-tech field.

00:46And then I got bitten by the philosophy bug.

00:48I studied philosophy at a graduate level in Canada.

00:52And I ended up running the show.

00:55We have about 65 million downloads.

00:56I've been on TV.

00:57I speak all over the world.

00:58And since about 2011, I've been really talking up Bitcoin.

01:04Now, I'm just curious.

01:05How many people have Bitcoins?

01:07I don't mean on them.

01:08I'm just curious how many people have Bitcoins.

01:10Okay.

01:11Good.

01:12Good for you.

01:13How many people are interested in getting Bitcoins?

01:15Not that I have any on me to provide, but okay, good.

01:19And I'm going to make a case here.

01:21I mean, Bitcoin is great technology.

01:23It's genius code.

01:25This public ledger of value transfer and information, copyright, deeds, wills,

01:32almost anything you can think of can be implemented in the Bitcoin architecture.

01:38It is one of the greatest innovations, I think, in human history.

01:42It's a lot to say, but I'll hopefully make the case here.

01:44And one of the things that has the power to do is to limit the seemingly endless growth

01:52of political power that literally appears to be eating up the world, eating up the next

01:59generation.

02:00The unfunded liabilities of the U.S. government are estimated at over $100 trillion.

02:07That's on a GDP of $15 trillion.

02:12Can't possibly pay it.

02:13Even here in the Netherlands, unfunded liabilities, the Social Security pensions, all the stuff

02:18the government has promised to pay for but has no cash to pay for is 522% of GDP.

02:28That's not good.

02:30That's not good at all.

02:32And there's a reason why that has occurred.

02:35And the reason is because governments can print any money that they want.

02:42That's their business plan.

02:44I've got a bank account.

02:46I've got a keyboard.

02:47I'm going to type some numbers in.

02:49Look, I'm a business genius.

02:51That's what they're doing.

02:54And that takes away power from the people.

02:58A study just came out yesterday from Princeton and Northwestern University that proved

03:05I think what we all feel instinctively to be true.

03:08They did a study in America and they said, what are the political beliefs or preferences

03:14of the American population?

03:17And what has the government done?

03:19Was it this close?

03:21It was not.

03:22This, this.

03:23They couldn't, you know, it was like watching a guy tell you how big the fish was he caught

03:26in Narnia.

03:28They couldn't find a further gap.

03:31Now, business interests, financial interests, they had the ear of the government.

03:38The people did not.

03:40It's an oligopoly.

03:41It's a plutocracy.

03:42We all know this to be true.

03:44And I'm going to argue that it is fiat currency that enables that in the government and it is

03:50Bitcoin that can stop it and stop a lot more besides.

03:572,500 years ago, Aristotle, known as a very smart cookie, defined money as four, having

04:07four characteristics.

04:08It had to be portable, right?

04:11You know, lead coin and, ugh, I can't do that.

04:15It had to be long lasting and not fade away, not lose its value.

04:20It had to be divisible, right?

04:22You can cut it up, reassemble it.

04:24And it had to have intrinsic value.

04:26And its most important intrinsic value was that it was limited.

04:30Limited.

04:31Now, I'm sure you guys know what was the original money back in the day.

04:35Solid gold.

04:38That's right.

04:39Not just a great TV show, but a very, very fine basis for currency.

04:44Of course, nobody under 40 knows that reference.

04:46Okay, never mind.

04:47So, gold has those properties.

04:52It lasts long.

04:53You can slice it up.

04:54It retains its value.

04:55You can reassemble it.

04:56And it has intrinsic value because people like it.

04:58It's shiny.

04:59It's pretty and all that.

05:00So, Bitcoin, of course, lasts.

05:02It's digital.

05:03Bitcoin is divisible, right?

05:06There will be 21 million bitcoins that can be divided by 100 million each into these satoshis.

05:12And I think that's about as many pennies as there are in the world economy.

05:15So, we're not going to run out of money anytime soon.

05:19And it is limited.

05:20And I know this sounds like very abstract, maybe even annoying intellectual economic abstractions,

05:28but the limits of money, the limiting of money is the limiting of political power.

05:35We have these governments, and we believe that they're necessary, but they are considered

05:40to be great servants and terrible masters.

05:42We create them for security.

05:44We create them for defense, for dispute resolution through the court system, and then they seem

05:50to do everything else under the known universe, and they run up enormous debts, and they start

05:54wars, and they sell off the unborn to foreign banksters, and we can't control the government

05:58when we need to.

06:00We try to vote.

06:01We try to rally.

06:02We try to have activism.

06:04And we cannot control this beast of the state.

06:09Anybody know how many Occupy Wall Street protesters ended up in jail?

06:15Anyone know that number?

06:17About 2,500.

06:202,500.

06:23The bankers in the United States are estimated, if you take out some of the government spending

06:30that's tried to remediate the damage, estimated to have destroyed about 40% of America's

06:34wealth, 40% of the wealthiest country destroyed by a financial oligopoly, who were clearly

06:41breaking laws repeatedly.

06:45Does anybody know how many bankers went to jail?

06:52Yeah, big fat goose egg, a bagel, zero.

06:57Remember Mitt Romney?

06:59Corporations are people, my friends.

07:01No, people go to jail.

07:03Corporations never go to jail because they give money to the government.

07:08Barack Obama was elected because it took the most money of any political candidate ever

07:12in history from the financial sector.

07:15And in return, he extends the tarp bailout.

07:18And banks that made hundreds of millions of dollars lying to their customers, selling

07:24them financial instruments that they were actually betting against, well, they get slap

07:31on the wrist fines that basically get passed off as costs to their customers.

07:35They pay nothing.

07:37We cannot control this monster.

07:44In the 19th century, we're also used to inflation.

07:47Here it's crazy.

07:48Like, I came to Amsterdam, and my wife told me it was going to rain all week.

07:51Turns out it's quite sunny.

07:53I don't want to get full-on tomato head.

07:54So I went to get some sunscreen.

07:57Like, $30 is like 20 euros for a sunscreen and all that.

08:02I thought it was going to be like gold and turn me into C-3PO or something, but it's just

08:06crazy expensive.

08:07When I first came to Canada, 1977, a candy bar cost 10 cents.

08:11You know, within 10 to 12 years, it was up to a buck.

08:13Inflation is just something we're so used to.

08:15In the 19th century, when gold was the basis of currency, prices went down.

08:23Can you imagine that?

08:25Don't we all feel like our money is just kind of evaporating?

08:29You know, like it's like grapes left out for ants to eat, like you put it under your bed

08:32and it just smolders and vanishes.

08:34It's one of the reasons why we put money in banks, why we invest in the stock market.

08:37It's just a hedge against inflation.

08:38In the 19th century, when money was limited by gold, prices went down for a hundred years

08:46in general.

08:47Everything was a computer.

08:49Everything got better and cheaper over time.

08:52We can't fathom this anymore, but that's how it used to be when money was limited.

09:00Now, what happened in the 19th century was rich people.

09:08Not all rich people, but rich people in general want to privatize profits and socialize losses,

09:16right?

09:17Ooh, I made some good money.

09:19Yay, all mine.

09:20Fine, I'm fine.

09:21Down with property rights.

09:22Good thing, right?

09:23Ooh, did I lose some money?

09:24Can we find a couple of taxpayers?

09:27Maybe they're kids.

09:27Maybe they're unborn.

09:28They're not voting yet.

09:29Let's do that.

09:31And in the 19th century, people put money into banks.

09:34Now, they're already making money just by sitting on it because prices were going down.

09:38But they put their money in banks.

09:41Now, how do banks give you interest?

09:43They don't have any money other than what they're given.

09:45They're not entrepreneurs in the way most of the audience members here are.

09:49So banks lend money out to other people.

09:53And then those people make money and pay back the bank.

09:57And then the bank gives you a couple of points on your deposits.

10:00Fine business model.

10:01Well, no problem with it at all.

10:05But in the 19th century, banks had the capacity for failure, of course, right?

10:12Because sometimes you invest, you give a whole bunch of people making carriages a lot of money,

10:18and then, oh, some jerk invented the car.

10:21Damn.

10:23Buy to that money.

10:23And you lose a lot of money.

10:24And, of course, banks maybe make one or two percentage points on a loan,

10:27which means for every loan that fails, between 50 and 100 have to succeed perfectly.

10:32So it's a very risky business.

10:35So banks were competing for customers, and they always wanted to be able to offer more interest.

10:40Now, how could they do that?

10:42Well, fractional reserve banking.

10:45Boy, there's a phrase that will get people to flock to you at dinner parties.

10:48I know about fractional reserve banking.

10:50Would you like to sit next to me?

10:53No.

10:54So the banks wanted to offer more interest, so they had to lend out multiples.

10:59Like, they got a ton of gold, they lend out five tons worth of money to people.

11:04And they hope that the law of averages is going to even it out, and they're going to be okay.

11:08And a lot of times it did.

11:10And sometimes it didn't.

11:11Then people lost money.

11:12They lost money because they were greedy,

11:14because they wanted the bank to lend out more than it was holding.

11:18When the bank went bankrupt, a lot of rich people lost a lot of money.

11:22Where do they go?

11:23Oh, congressmen.

11:24They go to the state.

11:27Now, the problem is the state is a negative sum game.

11:31The state is the deal where they say, hey, I can give you five euros.

11:35And people are like, hey, I like euros.

11:38I'll take that.

11:39And they say, well, to give you the five euros, I need to tax you ten euros first, if that's all right.

11:47And then people say, I think that deal just got away from me.

11:50I don't feel like that's going to work that well.

11:54Because, you know, you're going to give someone a hundred bucks, you go tax people a dollar each, a hundred people.

11:59You've got to go pick up that money, and people aren't going to comply.

12:01You've got to have a court system, collection, IRS, all that.

12:04So it's a negative sum game.

12:05Some people think it's worth it.

12:07That's perhaps a conversation with other time.

12:08I'll be at the Q&A session afterwards.

12:10But it is a negative sum game.

12:15So if a bunch of rich people come to you and say, my bank went bust, give me some money.

12:21Well, you've got to go and raise taxes on a bunch of people.

12:24And they don't like that.

12:25See, when money is limited, when it's limited on gold, the government can't just make it up.

12:29It means if you want to transfer money, you have to go take it from someone first.

12:33And those people don't like it.

12:35And so governments are always trying to, and rich people are always trying to break out of limited money,

12:41to get out of this little cage of limited money.

12:48And freedom for the government is enslavement for the people.

12:50We're talking about power to the people at this conference.

12:54When the government is free, the people are enslaved.

12:58When the government is contained, then the people are free.

13:01And when the government can print all the money that it wants.

13:07And when the government can create, in Canada, there's a province.

13:11It has 75-year bonds.

13:14All right?

13:15Which means, give me money now, and in 75 years, someone will pay it back.

13:23I mean, there's no conceivable way that that could be considered just or fair or democratic.

13:28These people aren't even born yet, and you're taxing them.

13:32Picking the pocket of a fetus takes some pretty nimble fingers.

13:36But they can do it with fiat currency.

13:41To limit money is to limit political power.

13:44So, prior to the First World War, Federal Reserve was created in America,

13:53with the capacity to create money, which is, well, technically called counterfeiting.

14:01But in the annals of government, it's sound fiscal policy.

14:04And during the First World War, which everyone expected, started late in the summer,

14:14and everyone expected it to be over by Christmas.

14:15Why?

14:16Because that's all the money they had.

14:18War is ferociously expensive.

14:19And all wars prior had been relatively short, relatively contained.

14:26And one by one, over the First World War, the European governments went off the gold standard,

14:31because they had no gold.

14:34War and gold don't mix very well.

14:37War and limited currency don't mix very well.

14:39When you have fiat currency, you have, like, this infinite blender for human parts.

14:45You can just keep shoving more and more people in.

14:48If they'd had to wage the First World War on gold, it likely would have ended by Christmas 1914,

14:53and a further nine or ten million people would not have died.

14:57This is how serious money is.

14:59Money is life and death for millions of people.

15:01So, the social programs that were instituted by most European governments in the 19th century,

15:14Germany first and foremost among them, kept running through the First World War.

15:18Right?

15:18You know that, I don't know if you know this, guns or butter,

15:20do you want to have a war economy or do you want consumer goods?

15:23When you have fiat currency, you don't have to give people that choice.

15:28You can have your social programs, you can have a war economy,

15:31and you pay for it by printing money.

15:35Anybody?

15:35What's the effect of printing money?

15:38What does it do to prices?

15:41Who's awake?

15:42Yeah.

15:42It goes up.

15:43Yeah, they go up.

15:44Inflation, technically, according to the Austrian economists,

15:47who I'd really recommend you look into,

15:49inflation is an inflation of the money supply.

15:51The price that goes up is just an effect of the inflation.

15:58First World War, they kept the social programs going,

16:01while running unsustainable wars, and they had to go off the gold standard.

16:04The First World War did not need to be fought.

16:06The economic disasters that followed,

16:09the uncoupling of money from gold, are still being felt.

16:131971.

16:13In America, Lyndon Johnson's Great Society social programs were underway,

16:21costing billions and billions of dollars, fighting a war in Vietnam,

16:25which, like the First World War, did not need to be fought.

16:28Did they go to the people and say,

16:30we need money for the war, we're going to have to shut down all this other stuff?

16:34No.

16:34They went off the gold standard, just like the European nations had done

16:40through the First World War.

16:42They go off the gold standard, so they don't have to ask you to choose

16:45between food and death, between life and murder, between guns and butter.

16:54Taxes in America have not been raised.

16:56They're waging a war on terror.

17:01Throughout all of human history,

17:03174,000 tons of gold has been mined and refined.

17:08174.

17:09Just think, 174.

17:12The war on terror cost 291,000 tons of gold.

17:17The cost of World War II for America, which was never invaded or bombed,

17:25save Pearl Harbor, was 15 times the amount of gold that they had

17:31in Fort Knox and the Fed.

17:39In terms of bitcoins, the war on terror cost 500 times

17:45more bitcoins than will ever be mined,

17:48and about 1,100 times more than is currently available.

17:54How is this possible?

17:55How is it possible to wage these astoundingly destructive wars

17:59with the deaths of over a million Iraqis

18:02and the displacements of a million and a half Iraqis?

18:04And in Fallujah, the genetic damage to the population

18:07as the result of these hellacious weapons is so bad

18:10that anthropologists and geneticists estimate

18:12that the population of Fallujah has been genetically destroyed

18:16for at least a generation.

18:19How is it possible?

18:20It's possible because money is unlimited.

18:23It's possible because not more than one in 1,000 or 10,000 people

18:27know that they lost their house because they cheered the war.

18:31They don't know that.

18:32They can't trace that.

18:33They're certainly not educated about that.

18:35Why would you educate people about that

18:37if you want all the evils of warmongering political power?

18:43So when governments can print money,

18:44they don't have to ask the people to make rational decisions

18:47or to balance things, right?

18:49The basis of economics.

18:50All human desires are infinite.

18:52All resources are finite.

18:55But with the magic of the printing press,

18:57with the magic of typing whatever you want

18:59into your own bank account,

19:00you go into this crazy psychotic world

19:03of limitless capacity for destruction and debt.

19:08So if in 2003,

19:11the American government had gone to its population

19:14and said,

19:15hey, that's a damn bad guy, right?

19:17Bad guy.

19:17I think we're all in agreement on that.

19:18Very bad guy.

19:19Would be nice if they hadn't armed him before,

19:21but bad guy.

19:24Why don't we go to war?

19:25People say, I'm not sure about that.

19:27They say, well, that'll be $75,000 per household.

19:29Please and thank you very much.

19:32How many warmongers would be left?

19:34Oh, really?

19:35$75,000?

19:38No, that's okay.

19:38Blessed are the peacemakers.

19:40Let's find another route.

19:42The tarp bailout for the banks.

19:45Hey, do you feel like bailing out

19:47Daddy Warbucks and his gold monocle?

19:48Would that be fun for you?

19:50Great.

19:51$2,200 per person.

19:54$4,400 for every working person.

19:57Want to send that money to us?

20:00Really?

20:00No, I don't think so.

20:03But they can just keep doing things

20:05without referring to the will of the people

20:07because they didn't invent the photocopier,

20:10but they sure know how to use it.

20:11The government has no money of its own.

20:12Bitcoin is intrinsically limited.

20:21You can't make a Bitcoin.

20:24You can mine it.

20:25The government can't print a Bitcoin.

20:29The government in a Bitcoin currency universe

20:32has to actually go to the people

20:34and ask them what they want.

20:36The government will actually have to do

20:38what it claims it does.

20:40Serve the people.

20:43Ask the people.

20:44Not with votes.

20:48Votes.

20:50You only ever get to vote

20:51for people who've already been bought and paid for.

20:55Who is up there on the podium

20:56in the presidential debates,

20:57whether you go to Europe or to America

20:59or South America or China, anywhere.

21:01The only people who are up there

21:02are people who've got enough money to run.

21:04And where are they getting the money from?

21:05And they're getting the money from special interests

21:07at your expense.

21:12That's not a theory.

21:15I mean, this is fairly well documented.

21:18If we have a Bitcoin universe,

21:22you don't get to print money for war.

21:27You don't get to print money

21:29for a prison industrial complex.

21:30You don't get to print money for a war on drugs.

21:32You have to ask the people.

21:34War on drugs in America

21:37costs hundreds of billions of dollars a year

21:39at the most conservative estimate,

21:41hundreds of billions of dollars a year.

21:45How many people,

21:46if their moral outrage against drug use,

21:49ooh, that's bad vegetation,

21:52if their moral outrage was not subsidized

21:54by money printing

21:55and they had to pay the bill for themselves,

21:57how many of them would find tolerance

21:59for people who like Pink Floyd?

22:00I think they would be all right with that.

22:01All the people who hate drugs

22:08and love Sgt. Pepper.

22:09So Bitcoin gives us an opportunity

22:17to reclaim the power of the people

22:20to say yes or no

22:21to what the government claims

22:22that it wants to do.

22:24Because there's this weird thing

22:25that happens in society.

22:26There's something that's happening

22:27that's cool

22:28and then people say,

22:29well, the government can make it better.

22:30And they say, okay, well, the government will make it better.

22:31Let's have the government add to it.

22:32And then what happens is,

22:33boink, you get over to this place

22:35where suddenly the government has to do it.

22:39And then suddenly it's like

22:40only the government can do it.

22:41And this is how we think about currency now.

22:44It has to be government.

22:45Why?

22:46It's a complete anomaly.

22:48The last time the government

22:49had this much power over currency

22:51was in the waning days

22:52of the Roman Empire.

22:54when they inflated the currency so much

22:59that the gold coins

23:00only had two or three percent of gold

23:02left in at the end.

23:04And they were trying to pay

23:04all their mercenaries

23:05with this crap gold.

23:07And the mercenaries said,

23:08this stuff is crap.

23:09We're coming to Rome to get the gold.

23:10They killed the Roman economy,

23:13depopulated Rome

23:14from like a million and a half people

23:15to 17,000 people in a year or two.

23:17And that was it for civilization

23:18for quite some time.

23:19When you give governments the power

23:23to control the money supply,

23:25it grows like a tumor

23:26until it extinguishes society itself.

23:31I really urge you to consider it

23:33to be that important.

23:36With Bitcoin,

23:39you can't steal it.

23:43Well,

23:44if you leave your wallet on a park bench,

23:47it can be stolen.

23:49But with any rudimentary security,

23:51you can't have your Bitcoin stolen.

23:53I was just speaking at a conference

23:54in Texas.

23:56I met some vendors

23:57who are integrating something

23:58so that if anybody

23:59tries to get a Bitcoin

24:01out of your wallet,

24:02it sends you a text message

24:03to your cell phone,

24:04you enter a PIN,

24:05and you approve the transfer.

24:07Solved!

24:08You can't steal the Bitcoins now.

24:10That happens anywhere and everywhere.

24:15There is going to be

24:17enormous amounts of resistance

24:18to the adoption of Bitcoin,

24:20but I really believe

24:21that it is about

24:22the most peaceful revolution

24:24that we can have in this world.

24:30It's been called

24:31the Internet of Money

24:32in that it's a protocol

24:33and you can program around it,

24:36you can build anything on top of it,

24:37which the community,

24:38thousands of developers,

24:39are currently doing.

24:39But it's better than the Internet.

24:45That's a non-controversial statement.

24:47It's better than the Internet

24:48because the Internet

24:49has not slowed the growth

24:52of governments around the world.

24:54The Internet has not saved

24:56the next generation

24:57from the endless gutter hole

24:58of debt.

25:02Information empowers the people,

25:05but not with regards

25:07to political power.

25:08Political power

25:09is a monopoly

25:10of the initiation of force

25:11in a geographical area.

25:13Information don't stop bullets.

25:16But when you don't have money

25:18to fund bullets,

25:19the bullets stop.

25:23War,

25:25surveillance,

25:26as the lady was talking about before,

25:27debt,

25:31the growing fascism

25:32that is occurring

25:34throughout the Western world

25:35is all predicated

25:36on money.

25:38Imagine a football game

25:39where every time you cheered,

25:41you were charged five euros.

25:44How loud is that game

25:45going to be?

25:48Very quiet.

25:51Imagine if our

25:52primitive reptile

25:54bloodlust brain,

25:55which we all have,

25:56nothing wrong with it,

25:57imagine if our

25:59primitive bloodlust,

26:01us versus them,

26:03tribal,

26:04base of the skull,

26:05meat brain,

26:06was provoked

26:07with an enemy.

26:08Those guys are bad.

26:09They're coming to get us.

26:10We don't want the smoking gun

26:11to be in the form

26:11of a mushroom cloud.

26:14What stops that brain

26:16from cheering war?

26:19Cost.

26:21Cost stops us.

26:25Think of the

26:25environmental predation.

26:27environmental destruction

26:29that is wrought

26:30by the continual increase

26:33in the money supply.

26:36How much consumerism

26:37is driven by the fact

26:38that your money

26:39is burning a hole

26:40in your pocket?

26:41Literally,

26:41it's melting,

26:42it's evaporating,

26:42it's dying in your pocket.

26:44Convert it to something.

26:45Convert it to something.

26:46Buy something.

26:47How much consumer demand

26:49is stimulated

26:49by excess money

26:50being flushed

26:51into the system?

26:52How much wealth,

26:58genuine wealth,

26:59not bubble wealth,

27:00genuine wealth,

27:00how much genuine wealth

27:01is not being created?

27:03I'll give you one tiny example

27:04then I think I have to end.

27:05Oh, the countdown.

27:06Normally it takes

27:07like three or four security guards

27:08to get me off.

27:12There was a study

27:12that came out recently

27:13that said if,

27:14just one tiny aspect,

27:15if American regulations

27:16and controls

27:18over the economy,

27:19interferences in the economy

27:20had stayed at 1946 levels.

27:24It was not a Mad Max,

27:25Thunderdome,

27:26flaming headed,

27:27bayonetting kind of wasteland

27:28in America in 1946.

27:30Civilized society.

27:32If regulations had stayed

27:34that small in America,

27:36if they just stayed that size,

27:38the GDP of America

27:40would not be $15 trillion.

27:42It would be $53 trillion.

27:47This is the opportunity cost

27:48of one tiny slice

27:49of an expansion

27:50of government power.

27:52There would be no poverty,

27:53nobody would have to worry

27:54about healthcare costs,

27:56charity would take care

27:57of everyone,

27:57and there would not be,

27:59as there is in America

28:00at the moment,

28:01children born

28:02into $1.4 trillion

28:04worth of debt

28:05that they never voted for,

28:07never chose,

28:08and will spend

28:09the rest of their lives

28:09groaning under the yoke

28:10of foreign banksters

28:11to pay off.

28:13This is the alternative universe

28:15that Bitcoin can generate.

28:17So I strongly urge you

28:19to start looking into Bitcoin,

28:21start promoting it.

28:22Yes, it's great.

28:23You can make some money,

28:23you can do some cool stuff

28:24technically,

28:25but I really believe

28:26this is our best chance

28:27to save the world

28:28from a direction

28:28that it's heading,

28:29which is sadly

28:30a photocopy of the end

28:31of the Roman Empire.

28:32When you study history,

28:33you're basically watching

28:34the same movie

28:34over and over and over again

28:36with different costumes.

28:39Not a toga,

28:40it's a suit,

28:40but it's the same damn thing.

28:41Bitcoin,

28:44we can stop the tape,

28:46we can break out

28:46of the loop.

28:47We can regain power

28:50to the people.

28:52Jesus,

28:53who knew a thing

28:54or two

28:54about handling

28:55the money lenders,

28:56Jesus said,

29:00blessed are the peacemakers.

29:02I say now,

29:03build shall be

29:04the warmongers

29:05and then we get peace.

29:10Thank you everyone so much.

29:16Thanks.

29:17Thanks.

29:18Thanks.

29:19Thanks.

29:20Thanks.

29:21Thanks.

29:22Thanks.

29:23Thanks.

29:24Thanks.

29:25Thanks.

29:26Thanks.

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