Get out yes but - Where to go? Simple - We must restore sound Constitutional money as the only escape from fiat currency and from the dreaded Orwellian CBDC.
Exactly!!! Currency is not Money 😊 Bitcoin is Money because it is fungible and it's issuance is capped at a Fixed Amount. It is backed by proof of work and the Network Effect 😊
Broken Money is a fantastic book. Been trying to encourage others to read it but without much success. A bitesize summary like this is ideal, thanks Guy! ❤
No one will read it. Just save yourself the time. The only thing that will save us from this wicked system is its collapse. When it happens, you will have a small window to reinvent your reality. Don’t waste it.
To my understanding at 21:36 it should say in 1933 and not: in the seventies. In 1971 US Dollar gold convertibility was "temporarily" suspended for foreign cental banks. Or in other words, after Bretton Woods in 1944 when US Dollar was voted world reserve currency, being as good as gold, and up until 1971, only foreign central banks could redeem it for gold. Most other currencies that were actually on a gold standard, abandoned their gold convertibility in the WWI aftermath. In 1933 US citizens were ordered to sell their gold possessions at 20 dollars per troy ounce. Then gold price was raised to 35 per ounce, so devaluing the USD by over 40% in a matter of months. So basically no currency anywhere in the world was anymore redeemable for gold by ordinary people well before WWII had begun.
Double entry bookkeeping was invented by Croatian called Benedikt Kotruljevic. Pretty certain it doesn't qualify as "Italy". But (as many other innovations) it was probably quickly accepted, spread, possibly improved and very vocally branded as "Italian". As it is case today with many other smaller and bigger states.
I have not read the book, but the most important aspect of money was not mentioned....that is, that money transfers title...fiat does not. Because of debt based fiat, all property has a lien against it because all property has been pledged as collateral for the debt. Therefore, no one can own any property and property has fiat (fake) certificates of titles, not true alldoial titles.
Always great to watch your team work in action. You have taught me a lot in the field of finance and money system. Thanks so much for your input. I spread the word as Much as I can about our broken financial system. Keep up, we are stronger together.
moving might not be an option/ viable but can use the other means to make money and be profitable - awesome education here. well delivered and explained
Thanks for the nice video. I do have to disagree however with Lyn that money is a ledger. Perhaps the best synopsis of money was written by William Stanley Jevons in 1875 called "Money and the Mechanisms of Exchange" (a free download by the way). An excellent read even if it is dated. In that book Jevons puts forth the 4 phases that are needed for sound money to form. The Phase 1 is decorative, people must want the item for its decoration like with gold, silver, and many assets like rare paintings, rare hockey cards, rare sculptures, and rare classics cars for example. Phase 2 is a store of value which rare paintings, hockey cards, classic cars, gold, and silver all fit into. Phase 3 is a transactional currency which is not possible for a rare painting, classic car, or hockey card because those are not divisible. But gold and silver are divisible, as is Bitcoin. And Phase 4 in case your interested is a unit of account. Once an item passes thru all 4 phases, it is sound money. Note that fiat currencies are not sound money because they all start out at Phase 3 without passing thru Phase 1 and 2. As such all fiat currencies fail.
You forgot to tell us which person realized that no one came to get the gold, and started trading with other people's gold. It was a man from germany his last name starts with an R.
I have a Question, Tether is Not Pegged to Gold. Tether is Pegged to US Dollar. As You Said Any Number US Dollar Can be Printed. Any Number of Tether Can Be Minted. Then Same USDT will be Used to Trade Bitcoin. That Means Bitcoin is Worthless Since it is Over Bought From Newly Minted Tether.
That logic is flawed. You could also say Bitcoin is bought with newly minted dollars, doesn't change the fact that you want to hold Bitcoin and not dollars.
Yes and no. Either this year or next year CBDC will be "installed" and present currencies will be terminated, i.e. illegal to be used. You own nothing..........
@@adiintel1 To me, anything that isn't Bitcoin is a shitcoin. They are all ponzi schemes just like normal fiat currency. Yes, there are certain use-cases for certain ones and yes, you can get rich off of them if you are near the top of the pyramid. But I don't play those games. Bitcoin is the closest thing to "real money" humankind has ever known.
Very interesting talk, one of the best on this subject. I have a question though: why would the most powerful people default on their trillions of dollars of debt if the money supply continues to contract ?
Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
THIS!!! I've been trying to articulate this same sentiment for a while now. Capitalism is coming to it's natural conclusion, the redistribution of wealth from the bottom to the top. Free markets are inherently monopolistic and it's time people start realizing this before the whole system implodes or if they'd like to prevent a revolution from happening
You represent the time preference perspective from an employee point of view quite well. However, this fails to fully represent the bandwidth trade-off. Business owners and entrepreneurs can’t just punch a time clock and stamp widgets -then punch out, go home and leave work at work. There are always fires to fight.. Tldr; mo money mo problems.
@rpena0899 you are referring to crony capitalism or cronyism. Free markets haven't existed for a long time, I will speak for the US since that is where I reside, we haven't had free market capitalism since 1913...at the least. We have cronyism, which is the merger of the state and corporations. Cronyism is the only way to monopolize and permanently destroys a free market system until a full collapse and reset or unfortunately a revolution takes place. You are not watching capitalism destroy and create collapse, you are watching Cronyism.
@@ryanbonesio7234 Oh God, this fallacy again... And the 1913 Federal Reserve trope to go along with it. "Capitalism hasn't been a free market since central banking has been around".... I'm sorry, did you think the imperialistic transaction for the Louisiana Purchase was free market? Was the Mexican-American War free market? Were the 160 acres of United States Homestead Act land grants after using military force to remove the native population "free market"? So much capitalism, so little free markets. You guys really don't understand that government is the key institution in terms of creating capitalism, yet you guys always frame it as government being antagonistic to capitalism. Some of the first institutional land change towards private property was in England 1530's, with the Protestant Reformation, where Commons land and Catholic monastic land was seized and divided up into private land enclosures. Both are examples of big government intervention to create capitalism wayyy before 1913. I could go on a longer tangent about how government creates money and that enable capitalism, but if you want to hear about that just read David Graeber's anthropological study into economics "Debt: The First 5000 Years".
I think in 1 or 2 days, the consolidation of BTC maybe over. I suspect it will hit the low of around 55,000 & thereafter it will move up again as a final lapse to retest the 73800. This level will break but is a fake. Then BTC will plunge to retest the 16500.
Mike Maloney? Pretty much ahead of everyone else by about three months during the pandemic together with Dr John Campbell. He has also has interviewed Lyn a few times ;-)
I agree! Mike Maloney's Hidden Secrets of Money series was my first lesson in economic reality. I didn't even know there was a difference between money and currency until I watched Mike! As someone with a bit of a tree hugging greenie protester history I could never understand why the Australian government would subsidise the logging industry to clear fell old growth forests and sell the timber at a net loss. Mike taught me that loggers were just a conduit through which the government currency could be disseminated to kick start the fractional reserve lending machine. I have tried explaining this and showing this series to friends and their eyes glaze over... he mentions a quote about how only one in a million will understand this system. I think that quote may be correct. Good luck in your quest to convert currency to money. Cheers!
Doesnt btc fail hard on fungibility now though. Given that we can track the history of every satoshi now means we "have good nice and clean btc" or" bad illegal tornado cash btc. " I still hold it but it's worth noting.
Not really, every single time a Utxo is sent it destroys all the sats and creates a brand new Utxo. You can never track a single sat because they are constantly being replaced.
I'll never understand how people can pretend bitcoin will create less inequality, when over 99% of the world population currently don't own *any* bitcoin while a handful owns billions worth of it
I love this channel and all the info it provides. I want to take this channel seriously and send to friends and family members… but the dumb commercials make me change my mind.
"thats just some basics"...but still important to educate the plebs thus good job cb ;D our current systems fd bc certain institutions r corrupted. eg, central banks wanna b the only bank more or less. thats y they keep destroying smaller banks. centralizations their goal but decentralizations needed in order to achieve wealth for the masses n not just a few 1000 people e: first 4 words
📈 Top Exchanges 📈
🥇 Bybit $60,000 BONUS + $30 Airdrop 👉www.coinbureau.com/deals/trading/bybit-cb/
🥈 OKX 40% Fee Discount + $20k BONUS 👉 www.coinbureau.com/deals/trading/okx/
🥉 Kucoin Up To 60% Fee Discount 👉 www.coinbureau.com/deals/trading/kucoin/
Once you learn about the fiat trick, fractional reserve banking, inflation…ur compelled to get out….
Underrated comment 👌🏼
Get out yes but - Where to go?
Simple - We must restore sound Constitutional money as the only escape from fiat currency and from the dreaded Orwellian CBDC.
Hypothecation
Gold@@Roylamx
Why in 1980 were rates so high though. ?
The paper money 18:45, my grandma has some of those notes back home, those are romanian denominations.
Broken Money is an excellent book. Lyn Alden’s interviews and talks are also amazing and I highly recommend all.
Dude are you trying to win the Nobel prize, you got my vote
Lyn Alden deserves to share it with him imo
The Nobel peace prize has been tarnished so badly I’d call
It a insulting to get awarded one.
I love this book. Almost through with it.
My mind was blown again and again as I read through
The producing on these videos are just amazing! Thankyou for the effort the Coin Bureau team put into them
This is the education bankers don't allow
Bitcoin smashes every single one of those metrics. Its the perfect reserve currency.
Exactly!!! Currency is not Money 😊 Bitcoin is Money because it is fungible and it's issuance is capped at a Fixed Amount. It is backed by proof of work and the Network Effect 😊
This is one of the few crypto related channels on UA-cam that seems genuine and the one I trust! Great job!
thank you!
Lyn's book should be on every high school's 'must read' list.
Broken Money is a fantastic book. Been trying to encourage others to read it but without much success. A bitesize summary like this is ideal, thanks Guy! ❤
No one will read it. Just save yourself the time. The only thing that will save us from this wicked system is its collapse. When it happens, you will have a small window to reinvent your reality. Don’t waste it.
Loved the office !
In the middle of this book now... a must read!
Posts like this are exactly the reason I subscribed to this channel. I hope Guy and his crew can do another show in London this year.
My copy just arrived a few days ago. I'm already 100 pages in. Lynn is amazing.
Excellent book. Please read it. It took me six months so I could digest it properly
Takeaways?
To my understanding at 21:36 it should say in 1933 and not: in the seventies. In 1971 US Dollar gold convertibility was "temporarily" suspended for foreign cental banks. Or in other words, after Bretton Woods in 1944 when US Dollar was voted world reserve currency, being as good as gold, and up until 1971, only foreign central banks could redeem it for gold. Most other currencies that were actually on a gold standard, abandoned their gold convertibility in the WWI aftermath.
In 1933 US citizens were ordered to sell their gold possessions at 20 dollars per troy ounce. Then gold price was raised to 35 per ounce, so devaluing the USD by over 40% in a matter of months.
So basically no currency anywhere in the world was anymore redeemable for gold by ordinary people well before WWII had begun.
Nixon 😡
Double entry bookkeeping was invented by Croatian called Benedikt Kotruljevic. Pretty certain it doesn't qualify as "Italy". But (as many other innovations) it was probably quickly accepted, spread, possibly improved and very vocally branded as "Italian". As it is case today with many other smaller and bigger states.
I absolutely ❤ ur cornbread plug! Awesome commercial 🙏🤣😁
You are the best
Lol I love the deals page promotion. Hilarious.
Thanks for all the info I've been watching for over a year now I recommend you to everyone
I have not read the book, but the most important aspect of money was not mentioned....that is, that money transfers title...fiat does not. Because of debt based fiat, all property has a lien against it because all property has been pledged as collateral for the debt. Therefore, no one can own any property and property has fiat (fake) certificates of titles, not true alldoial titles.
Thanks - I can see that the book is on Audible
6:17 WTF is that???
Another great analysis from Guy and CB! You’re my best source of info I recommend to my DAO. ❤🎉
Quality Work. Thank you!
Excellent presentation. Profound information made easy to understand. Your promotions are entertaining! Thanks
You are THE best. Thank you for your hard work
Lead the way coin bureau!
Convinced Guy is nuts with his commercials, but love them..
great book!
Awesome content and simple explanation. Thanks Guy & Team.
Always great to watch your team work in action. You have taught me a lot in the field of finance and money system. Thanks so much for your input. I spread the word as Much as I can about our broken financial system.
Keep up, we are stronger together.
Thanks for everything coin bureau freaks!
Lyn! Great to see the streams cross
This is brilliant, thanks a lot for this
Amazing video. Gold bless Lyn.
Beaches were the first Gold Mines.
Great vid once again👊🏼🇬🇧
Lens flare got stuck on stock footages. I suggest cleaning the editor with fiber cloth🤧
moving might not be an option/ viable but can use the other means to make money and be profitable - awesome education here. well delivered and explained
Thanks for the nice video. I do have to disagree however with Lyn that money is a ledger. Perhaps the best synopsis of money was written by William Stanley Jevons in 1875 called "Money and the Mechanisms of Exchange" (a free download by the way). An excellent read even if it is dated. In that book Jevons puts forth the 4 phases that are needed for sound money to form. The Phase 1 is decorative, people must want the item for its decoration like with gold, silver, and many assets like rare paintings, rare hockey cards, rare sculptures, and rare classics cars for example. Phase 2 is a store of value which rare paintings, hockey cards, classic cars, gold, and silver all fit into. Phase 3 is a transactional currency which is not possible for a rare painting, classic car, or hockey card because those are not divisible. But gold and silver are divisible, as is Bitcoin. And Phase 4 in case your interested is a unit of account. Once an item passes thru all 4 phases, it is sound money. Note that fiat currencies are not sound money because they all start out at Phase 3 without passing thru Phase 1 and 2. As such all fiat currencies fail.
Lyn is great. You could also take smt from Rothbart and Graeber to broaden things.
My word, Mr Motivator has let himself go.
Best promo vid yet. Well done Guy and the team 😂😁👍
6:47 That's a Watchtower Society painting if ever I saw one lmao
Ah, guy at his best. Great vid.
People give value to currency. If people feel that there is value in any currency people will choose that particular currency.
That's great content … The way you describe is tremendous!
You forgot to tell us which person realized that no one came to get the gold, and started trading with other people's gold. It was a man from germany his last name starts with an R.
Who?
I have a Question, Tether is Not Pegged to Gold. Tether is Pegged to US Dollar. As You Said Any Number US Dollar Can be Printed. Any Number of Tether Can Be Minted. Then Same USDT will be Used to Trade Bitcoin. That Means Bitcoin is Worthless Since it is Over Bought From Newly Minted Tether.
That logic is flawed. You could also say Bitcoin is bought with newly minted dollars, doesn't change the fact that you want to hold Bitcoin and not dollars.
I appreciate you. Thanks 😃
Excellent, thanks team
Love the videos!! Have you ever thought about a print publication? 🤔
Love the new intro!
That's the best Alex Becker impression I've ever seen 😂😂😂😂
Love this! Thank you!
Thank you!
Nice video. I don't know however if you should continue to do Schwarzenegger and Michael Jackson clips...
Surprised you haven’t been trying to get out of GB 🇬🇧
great content brother
AMAZING INTRO
i like this
Brilliant
So money is a valuable substance like gold or real estate and currency is like a shadow - paper money?💴
Brilliant explanation
Thx Guy
Sea shells are quite abundant ? So how they kept its supply under control.
They were not abundant before technology
Guy Sensei !😲last week, you promised an in-depth video about Bitcoin Runes would air in the same week but you never released it 😞
Coming soon! 💯
Groovy!
Banking systems will collapse
Yes I think so too. I think there’ll be an unstoppable domino effect by the end of this decade.
Yes and no. Either this year or next year CBDC will be "installed" and present currencies will be terminated, i.e. illegal to be used. You own nothing..........
"And we're walking, we're walking."
wheres the link for game theory please
ha, the first twelve minutes of this video are an entirely accurate synopsis of why shitcoins don't work.
you mean like pepe, shiba , floki and the rest?
@@adiintel1 To me, anything that isn't Bitcoin is a shitcoin. They are all ponzi schemes just like normal fiat currency. Yes, there are certain use-cases for certain ones and yes, you can get rich off of them if you are near the top of the pyramid. But I don't play those games. Bitcoin is the closest thing to "real money" humankind has ever known.
@@adiintel1 Anything that isn't Bitcoin is a shitcoin.
Excellent
Those 7 metrics are great!
Fun Fact: Hawala is an Arabic word that literally means “exchange”
Not true, im arabic myself…hawala doesnt mean exchange, it literally translates to “sending money”
Amazing
Facts
Very interesting talk, one of the best on this subject. I have a question though: why would the most powerful people default on their trillions of dollars of debt if the money supply continues to contract ?
Wheres the simulation link?
Also, there is money of account and money of exchange.
Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
THIS!!! I've been trying to articulate this same sentiment for a while now. Capitalism is coming to it's natural conclusion, the redistribution of wealth from the bottom to the top. Free markets are inherently monopolistic and it's time people start realizing this before the whole system implodes or if they'd like to prevent a revolution from happening
@@rpena0899 Yes, this whole neoliberalism model is doomed to fail, especially for little guys like us.
You represent the time preference perspective from an employee point of view quite well. However, this fails to fully represent the bandwidth trade-off. Business owners and entrepreneurs can’t just punch a time clock and stamp widgets -then punch out, go home and leave work at work. There are always fires to fight.. Tldr; mo money mo problems.
@rpena0899 you are referring to crony capitalism or cronyism. Free markets haven't existed for a long time, I will speak for the US since that is where I reside, we haven't had free market capitalism since 1913...at the least. We have cronyism, which is the merger of the state and corporations. Cronyism is the only way to monopolize and permanently destroys a free market system until a full collapse and reset or unfortunately a revolution takes place.
You are not watching capitalism destroy and create collapse, you are watching Cronyism.
@@ryanbonesio7234 Oh God, this fallacy again... And the 1913 Federal Reserve trope to go along with it. "Capitalism hasn't been a free market since central banking has been around".... I'm sorry, did you think the imperialistic transaction for the Louisiana Purchase was free market? Was the Mexican-American War free market? Were the 160 acres of United States Homestead Act land grants after using military force to remove the native population "free market"? So much capitalism, so little free markets.
You guys really don't understand that government is the key institution in terms of creating capitalism, yet you guys always frame it as government being antagonistic to capitalism. Some of the first institutional land change towards private property was in England 1530's, with the Protestant Reformation, where Commons land and Catholic monastic land was seized and divided up into private land enclosures. Both are examples of big government intervention to create capitalism wayyy before 1913.
I could go on a longer tangent about how government creates money and that enable capitalism, but if you want to hear about that just read David Graeber's anthropological study into economics "Debt: The First 5000 Years".
The catch wth gold s it can be seezed by the government.
Fun fact and great that Hawala is still in very much practice, bullions everyday 😅😅
Every person in the world should watch this video and wake the fuck up.
Get Bitcoin at all cost. Even by selling all your altcoins.
Great video !
I think in 1 or 2 days, the consolidation of BTC maybe over. I suspect it will hit the low of around 55,000 & thereafter it will move up again as a final lapse to retest the 73800. This level will break but is a fake. Then BTC will plunge to retest the 16500.
Better watch Hidden Secrets of Money by Moke Maloney (:
Mike Maloney? Pretty much ahead of everyone else by about three months during the pandemic together with Dr John Campbell. He has also has interviewed Lyn a few times ;-)
@@rookie_ Oh yeah, Mike not Moke XDD
I agree! Mike Maloney's Hidden Secrets of Money series was my first lesson in economic reality. I didn't even know there was a difference between money and currency until I watched Mike! As someone with a bit of a tree hugging greenie protester history I could never understand why the Australian government would subsidise the logging industry to clear fell old growth forests and sell the timber at a net loss. Mike taught me that loggers were just a conduit through which the government currency could be disseminated to kick start the fractional reserve lending machine. I have tried explaining this and showing this series to friends and their eyes glaze over... he mentions a quote about how only one in a million will understand this system. I think that quote may be correct.
Good luck in your quest to convert currency to money. Cheers!
Doesnt btc fail hard on fungibility now though. Given that we can track the history of every satoshi now means we "have good nice and clean btc" or" bad illegal tornado cash btc. " I still hold it but it's worth noting.
Not really, every single time a Utxo is sent it destroys all the sats and creates a brand new Utxo. You can never track a single sat because they are constantly being replaced.
5thScape was a hidden gem, so glad I saw the potential early 🚀💎
Sny money need to be invest after earn them other way we are allready on lost position....
Nice
I'll never understand how people can pretend bitcoin will create less inequality, when over 99% of the world population currently don't own *any* bitcoin while a handful owns billions worth of it
Not everyone is equal and we need to stop pretending we all are, is it right and fair no, is it the way it is yes.
Equality is not the main idea behind Bitcoin, the idea is that you don’t have to trust a third party to freely interact with whomever you want
Because Bitcoin is Deflationary and over time as it distributes it's value is democratised between all it's holders/users.
_ICT☁️5PM May 3rd 2024_
I love this channel and all the info it provides. I want to take this channel seriously and send to friends and family members… but the dumb commercials make me change my mind.
I’m with you.
Don’t say gold doesn’t “rust”
3:30 - 😂3:46 - 🤣I'm dead. I'm freaking dead
"thats just some basics"...but still important to educate the plebs thus good job cb ;D
our current systems fd bc certain institutions r corrupted. eg, central banks wanna b the only bank more or less. thats y they keep destroying smaller banks. centralizations their goal but decentralizations needed in order to achieve wealth for the masses n not just a few 1000 people
e: first 4 words