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More Fun with Numbers
Episode 7319th September 2022 • Generational Wealth with Cryptocurrency • McIntosh
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It's important when investing in cryptocurrencies to understand some of the basic math behind tokens - often called "tokenomics". In this episode we look at bitcoin's total market cap and what it would take to have bitcoin worth REALLY large amounts as well as discuss what the debt to GDP ratio means and what potentially could happen as a number of sovereign nations are at historically high debt to GDP ratios.

News and Links

Global Debt to GDP ratio

China Reaches Record Debt Level

Collapse of the Japanese Yen

United States Debt to GDP Chart

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I can be reached by email at mcintosh@genwealthcrypto.com and on twitter at @McIntoshFinTech. My mastodon handle is @mcintosh@podcastindex.social. Looking forward to hearing from you!

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https://genwealthcrypto.com

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Transcripts

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Hey set stackers, it's September the 19th, and this is episode 73 of Generational Wealth

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with Cryptocurrency.

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I'm your host, McIntosh.

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Today we're talking about more numbers.

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Of course, no one on this podcast is a financial advisor, and all information presented on

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this podcast is for informational purposes only, now that we've got the legal stuff out

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of the way.

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Let's jump on in.

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All right, it's another week, guys.

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Hope everybody has had a good week.

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We're going to start with our normal market update, and it's actually been pretty interesting.

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If you go back a week, it depends on, of course, during the last week we recorded two episodes,

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so I don't know, going back a week, Bitcoin closed at $21,674 a week ago, and then a couple

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of days ago when we recorded our episode on the Ethereum merge, the price for the close

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was $20,231, so it had already gone down $1,000.

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Earlier tonight, it closed for the week at $19,407, and then shortly after that, dumped

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pretty big.

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Right now we're at $18,767, but I believe it went down even a bit lower than that.

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I'm going to bring up a quick chart here.

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I think we're pretty much where we were, maybe.

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So $18,767, it's $1048, it's almost 11 p.m. Central time, so even in just the last few

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hours, it's dropped quite a bit.

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We look like we might have found a level of support here, we will see.

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But moving on from Bitcoin, we do have Ethereum at $1337.

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For the weekly close, our current price is $1,301, so that surely will be a level of

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support.

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Especially I think I've noticed with Ethereum, when it hits like a $100 level, so $1,300,

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it tends to be a level.

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It will sit at this for maybe a while, even if Bitcoin goes down, but it could certainly

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go lower.

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And then ADA closed earlier this week at $0.4478, and right now it's at $0.4388, so it actually

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dropped for, well, $0.01, excuse me, I can do that math, it dropped $0.01 since it closed.

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This is actually what I kind of outlined.

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I do believe it'll go on down into the upper $17,000 for Bitcoin and test that level that

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was the same level that we saw the low at back in June.

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I don't have my chart right in front of me.

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I believe it was around $17,800, so it's looking very strongly like it may go down.

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What's driving this?

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General market instability, I would have to say.

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The middle of this week, I believe it's Wednesday afternoon at 2 o'clock, probably Eastern time,

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2 or 3 o'clock Eastern time maybe.

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People, they will make their statements, release their notes or whatever from the FOMC meeting,

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and that will set the next round of interest rates increases for the central banks.

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We certainly expect either 0.75 or maybe even 1.0, 1% interest increase.

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And if either one of those occur, I guess the question will be, has the market price sat in?

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FedEx, Federal Express, I should say, FedEx, they disclosed their earnings late last week

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and they were below expectations, although they actually did generate a profit, and their

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price dropped like 25% or something in the space of a day when they reopened the stock

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market the next day.

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The reality is, in general, the markets are just a bloodbath right now.

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Everybody's down, almost without exception.

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Crypto is certainly down as part of that, although we've been at this level.

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Obviously, we're going to go back and revisit this level.

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I am of the opinion, most likely, we will break this level at some point, whether it's

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this time or possibly maybe it bounces again, tries, goes back up to 21,000 or so, and then

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comes back down and tries it again in another two to three, four weeks, maybe.

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Maybe that time it doesn't hold.

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I don't know.

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I think there's enough instability, and I could be wrong, and this is why I would say,

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you should be DCA.

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Don't bet that these things are going to happen.

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However, if we do break that level and it does drop down to 14,000 or something along

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those lines, that would be a pretty good place to push in any additional capital that you

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might have, and I've basically outlined that that would be my plan.

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Don't discount the DCA, but when we get these opportunities to buy at these low levels,

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certainly do so.

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All right.

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That's the market numbers for this week.

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Just as a little wrap up for our special episode that came out a few days ago on the Ethereum

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merge, of course, just like I said on the podcast when I recorded it, it really almost

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turned out to be a non-event.

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The merge was perfect in that sense.

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There was no real issues, and it did not accelerate the price.

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It did not drop the price dramatically.

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I think things jumped up a little bit, but then they went back down, and then of course

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now it's following Bitcoin.

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Bitcoin's going down, Ethereum's going down.

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We can move on from that, but it is in place, and it's going to be in the background there.

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As I said on that podcast, Ethereum will, if it's not already, it should be.

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I haven't checked, but it's a deflationary asset at this point.

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In other words, they are burning more Ethereum in transaction fees than, well, there's none

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being mined.

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We have reached the maximum number of Ethereum, at least certainly in theory, if not in fact,

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it should certainly be fact, that we will ever have.

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Therefore, as the number of Ethereum decreases in theory, even if the market, the total capital

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market doesn't increase, the price of Ethereum would increase due to that.

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What's our weekly topic?

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I got a couple of things I want to talk about.

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Now number one, and kind of the title of this episode, we're going to talk about numbers.

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We're going to talk about some numbers.

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Numbers are important.

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They're not like numbers, but when we're dealing with crypto, I know I talk about different

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numbers a lot, but when you're dealing with crypto, it's important in many cases that

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you understand things like how many of a certain asset are being issued, right?

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Example, Dogecoin.

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People talk about, oh, we want to get Dogecoin to a dollar, or this, that, or the other,

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but then what they don't realize is that there's how many Dogecoin are actually circulating

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because that number becomes very important, okay?

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And I'm going to look that number up real quick.

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So right now, actually according to this, according to Wikipedia, by mid-2015, the 100

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billionth Dogecoin had been mined, and that was supposed to be the supply limit, 100 billion.

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I don't know how they came up with that number, but that would mean if they had a market cap

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of a 100 billion Dogecoin would actually reach $1 per coin.

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So that is certainly possible.

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But what's happening is they're actually putting in an additional $5 billion every year.

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Dogecoin is actually not as bad as I thought it was, but they are increasing the supply.

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They're inflating the supply, which is kind of ironic because that's exactly the kind

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of thing that we are fighting against with Bitcoin specifically, but that's what they're

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doing.

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So they're putting more in supply that's only going to limit the price of that coin.

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I don't think Dogecoin is ever going to be a $100 coin because that would mean you would

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have 100 billion, let's just say if there were 100 billion Dogecoin, that would be,

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I can do this math, one trillion, I think that's $10 trillion.

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So that would be the capital total market cap of gold, for example.

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It would be 10 times the market cap of Bitcoin at its height.

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Bitcoin reached $1 trillion roughly when it hit 69,000.

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So numbers actually are important and the fortunate thing for people like me at least

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is that most of the numbers that we deal with are actually fairly simple.

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So if you made it through pre-algebra, you can probably handle this now.

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I probably had to take pre-algebra twice because I'm an overachiever like that, but I did manage

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to get through it at some point.

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All right.

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So what actually are we talking about?

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For one thing, I've got two topics I want to talk about.

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I'm going to talk about the simple one first, and then we'll talk about the one that's

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a little more complex.

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The simple one is strictly about Bitcoin.

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The other one is more about world economics.

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So hang on, bear with me.

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Number one, Bitcoin.

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Right now, as of a few days ago, of course, since the price dropped, this would affect

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this, but the Bitcoin global cap, the market cap of Bitcoin, is around $380 billion.

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It reached a high of $1 trillion, roughly.

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As I said, right now it's at $380 billion.

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So when we have that kind of market cap, people say things like, well, what would it take

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for Bitcoin to reach a million dollars per Bitcoin?

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That's a great question.

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21 million Bitcoin times $1 million is a lot of money.

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That's what it would take.

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There's 21 million Bitcoin, and you would need a total market cap of $1 million per

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Bitcoin times that 21 million.

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So if we take the 21 million and we multiply that times 1 million, we get a total market

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cap of $21 trillion.

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Now I'm going to go ahead and let the cat out of the bag.

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There's a lot of assets in the world that have a larger market cap than $21 trillion.

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So it is certainly possible.

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I already mentioned, for example, gold having a market cap of roughly $10 trillion.

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I don't have a list here in front of me, but you can trust me on this.

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There are a lot of assets.

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Now what if Bitcoin actually becomes a global trade asset?

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Now going back to our 21 trillion real quick, what would that mean from now?

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That's a million dollars per Bitcoin.

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Let's even say we're at $100,000 per Bitcoin, which of course we're a long way off from.

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That would be a 10X, 10 times to get to that million dollar Bitcoin.

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So if you bought your Bitcoin at $10,000, which was certainly possible not too long

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ago, that would be 100X.

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Now what happens if we increase the market cap, so to speak, of Bitcoin?

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If Bitcoin becomes this reserve currency that's used by a number of large countries, countries

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that trade a lot, they have large trade volumes, they're sending oil over here and other natural

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resources over there and goods go back and forth, all this kind of stuff.

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Whereas now most countries use the US dollar, what if they were using Bitcoin?

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What if, in fact, Bitcoin became the global currency?

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And that's really one of the goals of Bitcoin, let's be honest.

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It's to provide a stable currency that's not being controlled by another government.

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It's controlled by the code, right?

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We have 21 million Bitcoin, they're being created at such and such a pace, there's a

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limited supply, so on and so forth.

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What is the total amount of currency that's currently in the world?

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Now I'm not going to deal with hyperinflation or anything like that right here.

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What is the amount of currency, paper currency, really, all the printed money that's in the world?

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So it turns out, they've done some estimates, that number is $90.4 trillion.

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So $1 million Bitcoin is $21 trillion, there's $90 trillion of currency in the world.

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So if we just, quote, converted all that over to Bitcoin, what would that give us?

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It would be slightly more than four times of that $1 million Bitcoin, right?

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$21 trillion times four would give us $84 trillion, so it's a little more than that.

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But let's, for the sake of this argument, let's keep it down.

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Four times, that means that Bitcoin would be worth $4 million.

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Now, do I realistically see in the next few years all the printed money in the world being

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converted to Bitcoin?

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No, I do not, just to be clear.

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I may never see a $4 million Bitcoin in my lifetime.

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I think it's certainly possible because not only do we have printed money, you've also

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got a lot of credit systems.

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There's a lot of, well, they're basically credit systems that are used.

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There's other ways, Bitcoin, it's not just a currency, right?

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Bitcoin is a savings, it's an investment, it can be used in a number of ways.

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So we can't just say, oh, well, it's going to limit out at $90 trillion.

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It may not, it may actually go higher.

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And I've made this argument based on there being $21 trillion or $21 million Bitcoin,

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and that is actually not true.

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Now, we know that the total created will only be $21 million, but we also know, for example,

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that Satoshi has a million Bitcoin in a wallet that has never been moved, never.

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And I don't think they ever will be.

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Now, I could be wrong about that.

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He could wake up one day and spend half of that.

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It's certainly possible.

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And it would frankly wreck the Bitcoin ecosystem, at least for a significant period of time.

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Probably not permanently, but it would hurt it.

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But why would he do that?

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Now, I don't know why he did it in the first place, but clearly he's someone who thinks

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very far ahead, and I have no issue.

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I have no thought that he would just go out there and spend these Bitcoin.

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It doesn't make any sense.

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He's clearly made money other ways to support himself and do what he wishes, and he's just

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chosen never to use these.

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All right.

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So there's 1 million Bitcoin right there.

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And then the other thing that we don't take into account is Bitcoin that is lost.

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How is Bitcoin lost?

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Well, it can be lost in several ways.

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Sometimes people actually just forget about it.

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They had an old wallet laying there on the hard drive from 10 years ago or whatever,

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and they forget about it.

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Or maybe somebody dies and they don't leave clear instructions to the people who are left

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behind about how to access that Bitcoin.

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Or maybe they forget their password, or maybe they lose the wallet, and then they didn't

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keep the seed phrases in order to be able to restore that.

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The reality is that there is a percentage of Bitcoin that's lost, and I don't know

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what that is, but it would certainly affect that number.

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So in any of these calculations that I'm going to do, I'm just going to use 21 million Bitcoin.

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But understand over the long term, there will never be 21 million Bitcoin in actual use.

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Never. Will not happen.

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So what does that do?

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Well, it should help drive the price up.

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OK?

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So I'm going to leave that little exercise there.

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Now, I'm not saying Bitcoin is going to a million dollars this year, next year, five years.

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I have my thoughts about that, but frankly, I will keep them to myself because I don't

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want people saying, well, McIntosh said that Bitcoin was going to a million dollars in

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the 2028 halving or something.

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I don't know.

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We will just let this unfold in front of us and we will see.

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But what I do know is that when Bitcoin reaches a market cap of 21 million dollars, a trillion

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dollars, excuse me, that each Bitcoin should be worth one million dollars.

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Plain and simple.

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Little math for you.

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OK.

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What is the second thing?

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I have alluded to this time and time and time again, and I wanted to discuss it in a little

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more detail for this episode.

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Now, we're already 20 minutes into this episode, so I am going to...

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I'm not going to make this a big, long thing, but I talk about global debt.

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I talk about how a lot of countries are in a lot of debt, including the United States.

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I think we're right at $30 trillion right now in governmental debt, and we do need to be...

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I'll get into that in just a minute, but in this case, I'm talking about governmental debt.

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The U.S. government owes $30 trillion.

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The problem is that it has been proven that when...

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Well, I heard a figure, and I'm trying to find a source for it, but I did hear a figure

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that there was roughly, in the last couple hundred years or whatever the time frame was

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of this narrative, that there was 50 countries that had reached what they call a debt-to-GDP ratio,

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and I will explain what that is in just a second, of 150% that 49 of those had defaulted.

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So, in other words, they started printing money, is what they did,

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because they couldn't pay their debt, and they started printing a lot of money.

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Now, until I find this source, I can't say definitively that is true, but I will tell

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you that a country that has 150% of debt-to-GDP is very worrisome.

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So, what do I mean? What is debt-to-GDP? Debt is, of course, the amount of money that's

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owed by the country. GDP is gross domestic product. It is basically the sum of all the output

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of the country. That's it, plain and simple. If the United States is creating $30 trillion a year

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of economic activity, and the debt of the country is $30 trillion, that is 100% debt-to-GDP.

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Now, historically, countries would keep that number quite low. If a country is using gold

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as a standard, for example, unless there was severe need, they would have very little debt.

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And I think there's evidence to support that. Okay? But in my opinion, and I will say that's

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my opinion, but in my opinion, modern monetary theory has brought this idea that countries

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don't really have to worry about debt. They can manage it. And so, over the last,

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getting close to 100 years now, countries have started to grow their debt. So, I remember this

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a little bit. I was not involved in finance, certainly, at the time. But I remember when

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Japan almost defaulted on their currency, on their debt, I should say. Right now, they are the leader,

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if you want to call it that, of debt-to-GDP. 257%. So, in other words, they've got roughly

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two and a half times the amount of debt that they do for their GDP. And they have managed, so far,

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not to default on that. I don't know how long that's going to go. And in fact, there's an article

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here recently that I might have put into the last episode. If not, I will include it in this one,

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about how their economy weakened by the pandemic. Well, it was already weakened before the pandemic,

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certainly weakened by the pandemic, and it may cause the collapse of their currency. So, to be

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clear, in my opinion, the pandemic won't cause the collapse of their currency. Their sluggish economy

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won't cause the collapse of their currency. Their debt will cause the collapse of their currency.

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So, anyways, this article goes on talking about allowing people to travel in Japan. They've had a

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lot of restrictions in place because of the pandemic and this kind of thing. And basically,

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they've said, hey, we're going to have a real problem here, so we're going to kind of walk

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ourselves back on that. Now, I have a chart of the national debt, debt to GDP,

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of a lot of countries. And it's a fascinating chart. But one thing I did notice on this,

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well, let me go through a number of these. First of all, like I said, Japan, number one.

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The Sudan is actually number two at 210%. Greece, which they've certainly been in the news over the

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last few years, they're at 207%. A country in Africa called Eritrea, I think it's Northern

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Ethiopia, 175%. Cape Verde at 161%. Italy, which certainly has been in the news of late,

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about their economic crisis, 159%. Suriname, 141%. And Barbados at 138%. And then, let's see,

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where is this? Singapore, Maldives, Mozambique. And here's the US at 133%. Portugal,

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Bhutan, Bahrain at 123%. Spain at 120%. Belize at 118%. Aruba at 118%. France at 116%. Belgium,

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Cyprus at 111%, actually. And then, Canada at 110%. And I'm not going to go through the rest.

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I'll include this in the show notes. But I'm going to jump down to the punchline of where I'm going

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with this. China is actually at 69%. Now, if this is to be believed, that means that the government

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of China only has a 69% amount of debt, which in my opinion is still quite high, but certainly

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compared to all this is actually low debt to GDP. But I have heard for years China has a huge amount

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of debt. And I have a history. I've been in China multiple times. I don't want to go into all that.

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It's not relevant to any of this. I haven't been in a number of years, but I do keep tabs on China,

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so to speak. It's, I don't know, on my radar. I'm a little more aware of it than a lot of other

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countries, just the way it is. But my point is I've heard, and I've even talked on this show,

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we're talking about the real estate company that was defaulting and all this kind of stuff.

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There's just lots of crazy things going on in the Chinese market. And I'm like,

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well, this doesn't make any sense. And then I started Googling around and looking, and

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just a few months ago, two months ago, Bloomberg, which is certainly a respected publication,

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had this article saying China's debt to climb to record in 2022, a government advisor says.

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Now, I don't know who this person is. I believe there's somebody inside China,

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which I think is kind of strange. They weren't super clear on that, but I would be surprised

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if somebody in the government itself was actually discussing this. But in short,

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it says that China's debt is going to hit a record this year. Central banks try to boost

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credit and shore up the struggling economy, according to a government backed think tank.

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I don't know what government, but anyways, the overall leverage ratio, total debt as a percentage

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of gross GDP is projected to increase by 11.3% to around 275%. Now that's not 60, what did I say?

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69%? 69%, obviously. In fact, it's 200% more. This is overall debt. And see, that other chart

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is not. And so it is a little confusing. So in some ways, I would actually say that the Chinese,

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mainland China, that they were better off, for example, than say the United States or one of

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these other countries like Japan, of course, at number one. But their overall debt, which is

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household debt, non-financial corporations, and government debt is staggering. So it is basically

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the same as what Japan has for their government debt. So it can be a little difficult to maybe

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look through these numbers, if you're doing that, but understand that when these countries get in

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this position, where they're at these extreme debt levels, it's going to affect what they can do,

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how they react to things, and very easily could lead into credit default, or debt default, I

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should say. And the United States and Western Europe, remember, I was talking about Italy,

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France, Spain, I don't know if Germany was on that list actually, but Germany has inflation issues,

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certainly. If these countries all start defaulting, we're going to have a serious,

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serious problem, world problem, not a national problem. And I think, I don't want to be doom

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and gloom, but I think it's becoming unavoidable, because what I see is that countries are no longer

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willing to do what's necessary in order to reduce their debt. It just continues to climb.

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And then they reach an inflection point where that accelerates, and then that really accelerates the

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process and finishes it off. And the amount of debt that the United States, for example,

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has added over the last decade is just staggering. You can go back and look at a chart, and we've

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added a lot of debt over the last few years. The amount has increased because of COVID,

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if you want to blame it on anything, because of stimulus checks and this kind of thing.

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So, I don't know how this all ends, but I could certainly see the possibility where over the next

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decade, maybe less, maybe far less, maybe over the next couple of years, that a number of countries,

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maybe the United States, maybe the EU essentially, if all these member nations start defaulting,

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well, certainly Japan. Japan is actually probably the weakest, although nobody talks about it,

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and China as well. And I say that even though China doesn't have a whole lot of governmental debt,

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but they have so much debt. In my opinion, they've reached the limits of their ability

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to grow in the next few years, and yet they keep pushing more credit, more this, more that,

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more this, more that, and they do things that frankly are completely illogical. And it's,

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I don't want to get off on this, but they will go and build a city because they're in a real estate

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boom, or at least they've been in one, and then they can't put any people in it. Like literally

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build a hundred thousand person project, which is a city. It's not for them. They don't consider

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that a city actually, but here in the United States, it would be. I mean, the town that,

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the city that I live near, the city limits, it's just more than half of that.

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So then they go and tear it down because somebody wants it torn down and they've

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constantly got these projects going on that aren't achieving anything. And the reason why

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is because people are getting kickbacks. It's a very corrupt system. So I'm not going to go into

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all that, but they've got a lot of issues, even though they don't have a lot of government debt.

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So if all of these other things start falling, we see Japan fall, we see Western Europe come apart,

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we see the United States come apart. I think China will go along with that. And I don't know

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what's going to come out of all that. One possibility is that if these politicians are

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half smart, which to be honest, I'm going to keep that opinion to myself. If these politicians are

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half smart, they will look at something like Bitcoin. And I believe in the United States,

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we already do have people who are, some of whom are becoming more and more vocal, but

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they've got a long way to go to convince the other people in the House and the Senate, in our case,

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to go along with that. And it would be, let's be honest, it would be huge change,

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but that may be what comes out of all of this. And that would be a very interesting use case,

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to be honest, that I would see dramatic escalation in Bitcoin price, if that were to start happening.

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So, all right. A few numbers I wanted to throw out. When we talk about debt to GDP,

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I hope that makes a little more sense. I'm going to include these charts and these charts are

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important to understand and realize that these charts get talked about a lot. I was actually

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looking at something where they were talking about El Salvador and they were lowering their

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credit rating, because they have some debt that's coming due in January of next year.

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And people are, they think they're going to default on it. We'll see.

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But even large countries can get in a lot of trouble. And that's certainly where Japan is

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right now. And I believe Western Europe, after this winter, may be right there with them.

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This winter is going to be very telling. If this situation between Ukraine and Russia is not done

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and continues to drag on, and natural gas is not flowing into Western Europe and energy prices

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continue to spike, it's going to be a terrible, terrible situation. And I've predicted

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that this winter was going to be bad. And I will go on record right now and say,

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unfortunately, in Germany, because of, in my opinion, and I don't want to offend people who

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live in Germany who are listening to this, I'm just an outsider. I don't live there and all that. So

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take it with a grain of salt, but because of their mismanagement of energy, they're shutting down

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nuclear power plants, they're shutting down coal power plants, they're shutting down coal power

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power plants, they're shutting down coal plants, they're depending on a very fragile at this point

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infrastructure of solar and wind, and all their natural gas is getting cut off.

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People will freeze in Germany this winter. And I say that and it's a terrible thing to say.

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And I hate even speaking it, but I don't see how it's unavoidable. There are going to be people who

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can't afford to have their heat. And Germany is, you know, it's a cold, it's a Northern country,

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and they're going to be freezing this winter. So this stuff's going to get real very quickly.

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Well, I hope that the situation down in Ukraine is resolved and all of this can be, quote,

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turned back on. So at least they have natural gas, some form of electricity.

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But I don't have much hope for that either, to be honest. But I'm not a military person,

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certainly. And I'm not, I don't know. I'm just kind of my view of that. All right. That is it,

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though. I've got a few boosts here to go over. But I actually also want to mention I had a number of

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people streaming this week. These SAT totals are quite good and I truly appreciate it. But I don't

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cover the streaming at this point. There's just too much going on. But the streaming this week was

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also particularly good and I really appreciate it. So with the What's Buzzing About Hive episode,

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I had a, I'm sorry, I do not, I want to spell this person's name. I do not know how to even divide

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this up. B-O-R-S-E-N-G-E-L-A-B-E-R, Borson Gelber maybe. And if I completely mess that up,

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I apologize. They boosted 99 SATs and said this, Brian, Brian of London, the guest I had,

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is always a great guest. One of the few people who really understands crypto

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and can explain it to the average Joe. Excellent episode. Regards from a fellow podcaster

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and hiver, Thomas. So I think Thomas is actually his name. So Thomas, I appreciate that. Brian

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certainly was a great guest and I enjoyed talking to him. I did. All right. The Mirror Mortals

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podcast boosted 4,400 SATs. So thank you very, very, very much. I appreciate that. He said,

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very kind words, McIntosh. Thank you. You do value for value in a great way. And I truly

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appreciate that. I'm glad that's, that makes me feel good because that's really one of the

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things I'm striving for. I could really nitpick if I wanted to, but I prefer to focus on the positive

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things. He gave a lot of great feedback. And as I said already, I'm going to be working on some of

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that. So that's terrific. I really appreciate that. If you ever want a guest to chat about the value

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for value model and philosophy, feel free to reach out. I may do that. As I've said, we're going to be

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starting to bring on more guests. I think maybe sometimes people are a little tired of hearing

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from me. I've been doing this by myself essentially for 70 something episodes. And I'd like to bring

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on more people and get more viewpoints and have more discussions. I really enjoyed actually both

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of the, um, both times that I've had guests on. And that is actually something as we move towards

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a hundred episodes, we will definitely be looking to do more of. So, um, and then on the Ethereum

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merge special edition, Jenny Jams did 152 sat boost, no message, but as always Jenny, I do

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appreciate that. I do want to actually, I'm going to bring up the top 10 and I want to go over this

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because this is awesome. So I would like to have this programmatic some at some point, but for now

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I just kind of read it straight out of my Excel file, top boosters. Number one, total sats of

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18,876. I believe this is boost only that may be mistaken about that. It says top boosters,

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top boosters, but this is coming from the strategy stream software that I use to manage my sat

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streams. Um, so I don't have to run a lightning node. I think here, maybe the early next year,

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I don't know. I'm going to move back to running my own node. Um, but for now they're doing a great

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job. Um, so anyways, uh, total 18,876 for Mayor Morales. Thanks again guys. 3,300 signs of new

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growth. Uh, Jenny Jams come in at, came in at third, uh, with 2717. Pitar, uh, was at 2,200.

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I'm thinking he boosted, I'm not sure how that boost came in. I know he was listening to the,

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uh, Mayor Morales, um, the episode that we were on there. I, he showed up at my stream though. So

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Pitar, I'm not quite sure. I don't remember reading your boost. I hope I didn't miss something,

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but I do appreciate it. Uh, he's a, listens to a number. I've heard him a number of times.

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He listens to the podcasting 2.0 podcast, for example. He's a great booster. So really

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appreciate that. Uh, Lyceum. Oh, actually I don't, I don't want to forget. Um,

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oh man, I don't have his name on here. Oh gracious. He had the 1776 boost and it didn't

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for some reason make it through. So he would actually fall right there. Uh, Martin,

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Martin, uh, from Sweden. I apologize if I didn't get your name quite right. Uh, 800 from Lyceum.

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Uh, and then I've got 442 and I'm going to read this out. This is one of the Fountain default

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user names and they're a bit unwieldy user 5 1 7 5 3 8 6 3 0 1 2 8 8 1 6 2. Uh, if you want to

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change that to a more readable name, that'd be terrific. And then I can give you proper

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credit. I'm actually listed when I did a test boost next. I'm going to skip that. Brian London

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at 386, uh, Taku, Tako rip, Taku. I'll let y'all in a little secret. I do not have the best vision

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and sometimes I can't see this stuff. I think it's Tako rip, uh, 321 and then rounding out the,

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I'll actually go and do the next two cause I, mine doesn't count. Um, number not a 10, uh,

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198 for crypto nomad, uh, crypto nomad. I don't think I've heard from you in a while, buddy.

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Uh, hope you're still out there. And, uh, 11th or 10th is tomato monkey at 188. So there we go.

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If you remember correctly with our levels of support, our minimum is shrimp at 50,000 sats.

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We're getting some people that are getting there, but we still got a ways to go. So

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I do appreciate all the support. Um, of course, this is a value for value podcast. As I always

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talk about every week, I don't do ads. I will never do ads and for a number of reasons,

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but I don't want sponsors or ads. You can support the podcast in three different ways, time, talent,

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and treasure time and talent. They kind of go hand in hand. There's always stuff I need. Like this

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week I started building up kind of my episode catalog. So what I'm doing is I'm going back

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through my episodes, uh, making a page on the website. If you go to the website now at

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genwealthcrypto.com upper right corner, you've got the different, well, the menu. One of those is,

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I think it says like episode library, click on that. And then that brings up a list of the episodes.

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Now not all of them are filled in. They're all there with what should be a link. Not every link

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works. So you got date, you've got the episode name and episode number, like the first 10 at this

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point, maybe even a bit more are done. So I was working on that, but there's always stuff,

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transcriptions, whatever. And I just, I, this is not my full-time job. I mean, honestly, I really,

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I don't actually even make enough money to support the podcast. It comes out of my pocket,

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which is fine, but I can't devote as much time to it as I would really like. And I have to research

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the show topics, this kind of thing. Of course, I'm not trying to offload stuff just to be clear,

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but if somebody wants to support the show and maybe, maybe they don't have a whole lot of money

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and that's fine. I've been there, trust me, but you want to support the show because you're

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learning things. There's things you can do. You can always reach out to me. All right. Anyways,

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enough about that. Treasures, just what it sounds like. Of course, that's streaming sats. That is

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boosting, boost to grams. You can send me a message. Great way to get ahold of me actually.

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And you can boost a very minimal amount, 10 sats or something on Fountain, I think. I think

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they raised it to 10 sats because it just didn't make any sense to do like a one-sat boost, but

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whatever. Send me a one-sat boost if you can. Send me a message. I don't care. I love to hear

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from my users. All right. You can also send me money by paypalmackintosh at genwealthcrypto.com

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It's the email address. That's all the ways I have set up. I really don't even like doing paypal, but

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if somebody really doesn't want to do the whole sat thing or whatever, then you can send me money.

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Send me a few bucks a month. That'd be fine. Send me whatever value this brings to you.

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So I hope it's bringing a lot of value. I think over the long term, you'll find that it will.

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All right. If you like the content, I would love it if you would tell your friends about

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the GWC podcast. Like I said, you can always reach out to me, mackintosh at jenwellcrypto.

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I'm mackintoshfintech on Twitter, and I'm also on Mastodon. You can search for Mackintosh on the

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podcast social Mastodon instance. All right. Oh, and finally, newpodcastapps.com, of course,

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is the website so that you can try out the whole podcasting 2.0 thing, which brings a lot of great

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features to it that are not at this point getting into Apple, Spotify, or Google podcast players.

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Things like transcripts, things like sat streaming value for value, things like being able to go live.

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We've been talking about that off and on over the last few weeks. That is an awesome feature,

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and I cannot wait to see it in all of the podcast 2.0 apps. You go to newpodcastapps.com. You can

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search for live and find out which ones do. All right. So that is it. As always, thanks for being

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here. I hope it has been helpful. Stay humble, my friends. Go out and make it a great week.

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