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everybody doing this afternoon I want to talk about this I watched an interview just a little bit ago and the guys at Borah the first that we're doing the interviewing it's a guy by the name of Ivan you can find his YouTube channel it's Ivan on tech and he's he's pretty good and he had this guy on everybody should know him by now Peter chef Peters just been around forever he's been around since I think the 80s I'm not sure I'll have to check that out but he's been doing stuff since the 1980s Peter shift for the poor for the all practical purpose pretty good guy he hates debt he hates the monetary system he hates the banks and of course he pushes gold Gold's the solution buy gold buy gold buy gold because gold is a transfer of wealth it's it's safe it's transferable it's been around forever it's been around since the Bible people have used it for thousands of years governments have used it and the reason that economy is in shambles today is because we went off the gold standard and there's nothing back in the currency and that's basically the chef's argument and he has an interest in this argument because he actually has a fun I think he buys gold for people then he also holds gold and purchases gold resells gold he's in the gold market all the time so that's Peter Schiff soap IVA non-tech brings Peter Schiff on his show today and they talk about Bitcoin and of course Peter Schiff things--but clothes for lack of a better word of even really say everybody thinks it's a big joke I mean he basically thinks bitcoins a big joke because it's just digital currency and of course digital currencies nothing but something that anybody can make anytime anyplace anywhere and it doesn't solve any problem all it does is it just is just a fantasy world make-believe and we just go out and create this currency and yeah it's got a few things that can do but you know then he talks about the forks and there's so many others and there's like coin and all but the issue is and I listened to the interview very closely and I thought I've been on tech tried to bring something out that shift just not would not handle he would not deal with and could not understand and that was the idea of the utility the utility behind something like Bitcoin and what Schiff doesn't understand is that Bitcoin solves our problems it solves a big problem and it you got to look at this as a problem you can't look at it as one's a currency and ones are not and his Bitcoin currency doesn't compete with the dollar does it compete with gold doesn't compete with other currencies in the world all this other stuff you can't look at it that way because it doesn't it's not a currency it's not gold you can't put it in a pigeon hole you can't say well the US dollars failing so now we gotta use Bitcoin or you know it's hard to get money in in in in countries with with currencies that are inflated and you know no infrastructures we've got to use Bitcoin you know that's not the way to look at Bitcoin Bitcoin solves a problem and really what Schiff is talking about is gold solving the problem Gold's been trying to solve a problem for thousands of years and hasn't been able to do it yet so I don't know when this country went off the gold standard standard and I don't know anybody it's on the gold standard and the reason that they're off the gold status because gold doesn't work gold does not work for the purposes that we need to work for today gold does not work gold is not transferable gold there's no way to really transfer gold over the internet it's the way to break it down use it senator you know in a transaction over there's there's no way to do that I mean gold doesn't solve the problem so gold doesn't work and Peter Schiff keeps arguing that it does work that it's the way fact he never argues that it does work he thinks that we got to go back to it that somehow we're all gonna go to hell in a handbasket if we don't go back to the gold standard and he couldn't be more wrong I've been listening to this guy for 30 years and he couldn't be more wrong effect if anything if we if we took up the idea what she was trying to say the country would basically implode because there's no way that we could we could we could repay all the debt that we owe and we're not going to repay this debt and the younger generation better but understand this this is why causes the Krypto generation you were either going to be enslaved by this system or you're going to hit the reset button and get out from underneath it and the only way to get out from underneath it is if you get the reset button and we start a new way of doing things example the currencies the crypto currencies the blockchain and the new economy the the Internet 2.0 all the blockchain is all all the crypto currency is it's the Internet and we want more of it and we're going to give you more of it and we're going to give it to you in a way that that it works and that's what the Bitcoin and the theory OS and all these companies are doing we're transforming the world and giving us a better world to live in unlike the world where we're living today where you're going to end up working to pay off debt that you or your generation didn't create or make and that your generation will never create the debt was made up so it would never be paid off so that would basically take half of everything you make and give it to somebody else and that's what you're living under right now and that's what you will continue to live under and you will live under even more of that if we went back to the gold standard so forget about the gold standard Peter Schiff is playing chess or checkers in a multi dimensional chess world he cannot grasp or understand what he would even remotely is going on here I don't know what kind of background he is has it's pretty smart guy he grabs things pretty quick he gets the talking points with IVA non-techie and all the talking points he could saying really quick he knew about the transaction times you know about the cost of transactions you knew about the blocks they knew all about this stuff but he didn't really see what problem they were solving what bitcoin solves is it solves the problem of transferring wealth over the Internet and it solves the double spending problem and it solves the security problem that's huge it solves those three things so now that you can build on it now you can have a prop something like a OS where you can build on it they were using an analogy in this that Peter Schiff was saying like Bitcoin maybe like a car and it's like the Model T and and as the MA as time goes the Model T is going to become obsolete we're not going to need it anymore we're gonna have better and bigger cars and nobody's gonna want that Model T maybe for you know because they want to collect it but not because they're ever going to drive it again and that's kind of a bit communist we're never ever gonna use it just doesn't want to work in our as they every year everything evolves Bitcoin really isn't the automobile it's not it's the highway it doesn't matter where automobile you drive on it we're looking at the highway who cares about the car you know Bitcoin gos ethereum these are the highways that were building stuff on this is the infrastructure I've been on texted a couple times utility he said it was a utility and I don't I think I went right over about Peter ships head right over Peter Schiff said he didn't get the utility aspect of what bitcoin is and how it works and how it solves a problem a major problem and for that one reason in that reason alone it's always going to be valuable because of the problem that it solves not to mention the fact that it's transparent and immutable so what we're looking at today is we're looking at solving a problem and that's what these companies are doing that's what bitcoin is about that's what all these companies that are in the cryptocurrency space all these companies that with the that are coming you know so they were starting to become built and you'd be built here in a very very short number of years they're solving a huge huge huge huge problem that problem is how to get rid of the third party in a in a transaction and how to get rid of the third party in our day to day life how to get rid of all that and utilize the internet better make the internet more usable give us more internet give us a better way to communicate over the Internet and I always like the idea when I use that is is a great a great example of lift and also can't even think of the first let's just say you left okay just yeah lift you got a person has a car you have a person that needs a car and now you bring the two of them over over them over the Internet together over the internet with with an application well one person can be there another person you making me up over the Internet and they can in the end they can pick and somebody can profit from that somebody can come come they can use they can make money from that transaction so you know that's a solving a problem that's solving a problem of somebody needing a ride and somebody delivering a ride that's that's a great example of how it would work that's a great example when Pat Forde wife and they can't remember the first company pretty well think about in a second but lift and the other company everybody knows what I'm talking about I can't think of it right now but um these are the problems that need to be solved in the future these are the problems are going to be solved in the future and there's no stopping because once you start this process of doing it this way there's no way not to do it that way so anyway it was a good interview I really enjoyed it I went as soon as I saw that I thought this is always a good idea on his part to bring an old dog like Peter Schiff in and let him express his ideas and opinions on it because it just shows you where the mindset is right now how people just are not getting this they're not understanding it and how this is and then Peter Schiff some smart guy he's a bright man and he's just not getting and he's not understanding it he doesn't really want to get it or understand it he just needs to because he doesn't want to wrap his mind around what's happening in the world he doesn't want to relearn something he doesn't grasp something new or do something new and that's the problem and that's that's that's the friction with this today are people in my generation that do not want to wrap their minds around something like this people that are younger let's see a future work indebtedness and low wages and hard to find jobs and all they get it they get it pretty easily because they don't like what they're looking at in the future houses of a million dollars interest rates that are well not the interest rates are low well that's another thing I'd like to talk about you know the way our economy works today we got a stock market that's going up Dow Jones which is just a few select companies going up and of course it has it gone up all the time just going back a little bit and we got you imp low interest rates now that's a really nice thing to get up every day and say wow the economy's doing great we got low interest rates and we have a stock market that's surging that's this is what Trump's are talking about but most people don't benefit from either one most people don't own the stocks and most people can't utilize or get those little interest rates for whatever reason maybe they've got bad credit banks aren't willing to lend to them they're not buying they're purchased in there just before a right thing doesn't mean you know banker approval or anything like that so they never get those low interest rates so most of the good things that people talk about nobody really participates in but you can participate in the internet and you can you can't have an idea that you can bring forth on the internet and you couldn't build it on a prop form like EOS and you can come up with you an idea you can come up with a billion-dollar idea just like uber uber is the most think about site let me think about it for a second uber uber is the perfect example solving the problem and that's what cryptocurrencies are that's what you know what's what's happening in the world today and it's the evolution of the Internet the ability to bring people together easier and then have a medium of exchange like a Bitcoin so you can actually transfer the money back and forth without having a third party box with Golgo is gonna have a third party involved because you can't transfer it back and forth it doesn't work that way it's not something you can save little pieces off and give it back and forth to people so it's you can't transfer it digitally over the internet so that'll never work it doesn't solve the problem and never will solve the problem and if I were doing the internet that interview with him I would have said that I said Peter you're talking about a solution then you're talking about a problem it can never be solved with gold and it never has been solved it never will be so so why do we keep talking Gold is being a solution for economic problems it's not and it never will be and there's there's no prouder and the other thing too is the the ability to to pay off this debt never ever and I you know this country will never pay off this debt or most countries will no most governments are in debt to the World Bank they will never pay them off the people have to decide that they're gonna quit using those systems they're gonna quit using those those third party and they're gonna go ahead and they're gonna they're gonna buy into the cryptocurrency and once they do that there's nothing anybody can do there's nothing the banks can do there's nothing anybody can do it's like with with uber I was at a hotel not too long ago and I called an uber to pick me up and in that city San Francisco they happen to have an ordinance against uber in San Francisco you can't land in San Francisco uber can't pick you because I'm some sort of so I get an uber but the guy guy message just means a saint man and you got it I got to pick you up on the other side of Street so the taxi cab guys don't see me so I literally walked across the street got my over and left so it there are ways to give him around and enough people do that eventually the ordinance that they have against uber will just basically be worthless that's the way the cripples are that the little more contracts are going to be that's the way peer-to-peer is going to be people are going to understand and realize it's just a better way and they're gonna go that direction that's the whole concept of Steve Jobs that's what Steve Jobs is all about he was always thinking about the end user what people how people would want to you know what's gonna make it easier for people what they're gonna do people are always going to naturally gravitate towards the path of least resistance or the path of least friction and if that is using the blockchain if that's using a cryptocurrency that's exactly what they're going to do they're going to gravitate towards that no matter how many laws are passed no matter how many people are in trouble for it it's never ever going to ever work because the people don't want so anyway very fascinating interview I really liked it I don't know I have an intact I've been watching his channel from the very beginning something I hope does a lot of conferences I think he's someplace and maybe it's Norway or sometimes like that but anyway he said he's smart and he's young and he's the kind of people that we need to go out and talk about this stuff so anyway I like the interview appreciate it thanks for watching
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