The stock market’s doing really well. I’m just going to have tangles of 2006 with rap videos of guys running around, throwing euros in the air, and all the rest of it. Yes, we’re in the middle of a pandemic, so maybe the consumption isn’t that conspicuous, but not-withstanding, the markets are clearly insane. I can’t quite put my finger on it. Then, two, three years later, I encroach in into another segment of the population. Now, you have the people who already paid for two years saying, “Yeah.
The uniquely human task of shopping for necessary supplies, food, and medicine has been totally transformed by the web-based experience. I think, we are in for some very interesting supply shocks in the next coming years, if credit is cheap. Because still baffling to me, I was bitching about this maybe, six months or so ago.
You also have unrealized losses, which you can do adjusting in your accounting. For the most part, you’re right. I would just say, and I think, the strategy of finding the person, or the party that needs you more is certainly not something I would disagree with or endorse. I’m not a lobbyist in the room either. I think, it’s important to be partisan.
Then all of a sudden, there was this unexpected surge in demand. Then hard drives just disappeared for three months. You couldn’t get a 20 terabyte, or 18 terabyte hard drive anywhere.
You wind up getting everyone into a position, where they have to be more and more dependent upon the government, especially those people who at the bottom rungs of society. Because now, they don’t even have hardly any vehicles, because you should see what’s happening in a single-family residences, you see the freaking hedge funds are buying those up. Then, where in the world does the average person that is trying to come up in the world, actually build wealth to create generational wealth for their families? You’re not going to invest in stocks, because it’s what they would do with that. I think, this is extremely unlikely to happen, because it’s absurdly hard to deal with this, it becomes selective enforcement, which governments love, but you totally be a legal shit show. Then, there is an upside to it.
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They’re inheriting real estate. They’re inheriting, perhaps, shares in a company. They’re inheriting the family business, etc. This is where Jay was hitting in on, and Jay and I were talking about the stepped-up basis conversation. That will be the easiest way to attack it. Essentially, it’s increasing his interest rate, essentially.
Whether that’s today, tomorrow, two years, five years, I don’t know. When that debt falls due, when it comes time for that debt to be paid, and some people say it never will. The US national debt is a prime example.
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To Lamar’s original question, where do you go? This is this is a global debt problem. Every single country around the world has an absolute debt crisis. I just think, I think Shinobi was going to touch on it earlier.
I actually predict one day, we’ll all be a 100% partisan, because Bitcoin will be the party. Now, how we traverse from here to there, I think is more akin to how you just laid it out. In fact, to the point of just the Republican point that you brought up, just because Ted Cruz is Republican. We had a Republican president when we got off the gold standard, right?
The reality is, very few things can get passed in this country. Things like that, I think, are going to be really difficult to do. Not just from a political standpoint, but actually, from a pragmatic standpoint. That’s why I brought up the methodology hire ukrainian software developers they use. They’re literally relying on Forbes to actually find the 400 richest people that they’re citing in this particular report, or the 400 richest family. You do a wealth tax like this, they now have to liquidate this stuff.
I think, any discussion we have, this is fantastic, and I applaud everyone for doing it and engaging and to coming with an open mind. We reward some of these people at the edges that are helping us, and we punish some of the people that are Russian Certified Php Developers For Hire Quality And Responsibility more near to the center of power that are against us. Soon we’re going to be at the center. I think that’s inevitable, and that’s my thought on it. That’s why it’s very important to have a crisp message about Bitcoin to the politicians.
They just don’t want the balloon to pop. They feel this is the only way they can balance this entire thing. Then, ordinary income is just what most of you probably have. It’s if you have employment, you have a job, or it could be interest, or dividends, and then income from sole proprietorships, rents, royalties, if you’re lucky to have something like that.
It allows you to put your Bitcoin in and a leverage it up, and you can with one click of a mouse, get twice the exposure to Bitcoin. This is a classic scapegoat strategy. This is, I hate to fucking bring this up, because if you immediately are an idiot if you bring this up, but this is exactly what happened in Germany, and this is exactly what we’re seeing here. I’m not saying that – I’m not comparing Nazi Germany to America, but these are very tried and true tactics. Isolate groups, create narratives that divide them and then ferment anger between various groups.
When you have 500 million, a billion, 2 billion dollars, there are lots of things you can do. We’re seeing that, for example, would be in, I live in Connecticut, by way of example, Connecticut has a 100 billion dollars of unfunded pension liabilities. That’s $70,000 for every man, woman and child in the state of Connecticut.
” We’re at the edges right now. The politicians that we’re getting to talk to, they’re not top tier ones, right? We’re not getting to talk to the president, or the speaker of the house yet. It’s people like Ted Cruz who lost the primaries on the edges of the Republican party, or Erica Rhodes who’s running against a 20-year incumbent.
We all laugh that price barely is affected from just yeah, trying a good fucking luck. These types of things where the narrative is being shifted and more importantly, the incentives are being shifted. That is really fucking dangerous. I think, it’s so important that we are – whether or not these are imminent threats as some of us think they are, or just proposals, John, as it sounds like, powertrend you think they are. I think we have to be hyper-aware of these things, regardless, because these are the types of threats that have a largest likelihood of undermining everything that we’re trying to achieve with Bitcoin. Together, a couple can leave twice that amount, 11.7 million dollars times two to their children, with as an exclusion, and without paying a state taxes on it.
- I think, that’s a big part of this.
- It’s a time bomb waiting to go off.
- We need to get other people to own and hold Bitcoin, because that does become an immensely powerful tool.
- That foundation can be controlled by family members for decades, which is the real power of having money, because you have massive social influence, political influence.
We know that something’s going to happen, but we’re just not sure what that thing is. It’s a time bomb waiting to go off. Joseph Tainter, he’s a collapsed theorist, and he talks about how societies eventually become too unwieldy and complex. Then, what happens is they disintegrate into more efficient forms, where you don’t necessarily need large bureaucracies to maintain them. I think that where we are now is that the government has constantly expanded for the last 120 years, and particularly after World War II and The Great Depression. It’s probably going to be where game theory actually leads us.
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Even a stupid little toy has hundreds of either parts, or steps to get made. It’s a domino of issues there. There’s just never been any retrace. It’s always been growth of the state. As a consequence, we have this thing that’s just not fit for purpose. There’s institutional inertia.
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Anytime anyone in either party talks about social security, or Medicare, or something like that, they punish them if they speak out against it and it’s perceived as bad. The reality is, I think, Tina laid out that last point around where the burden will actually fall and it won’t fall on that next bracket. It won’t fall on the uber wealthy.
The next Democrats are going to be a lot nicer. They’re going to start being more conciliatory towards you. A decade ago, if you wanted to know what was wrong with your vehicle, you had to visit a mechanic and pay for a round of diagnostic testing. Yes, you still need to visit the shop, but you’ll go there armed with all the information you need to order specific repairs. Plus, you’ll already know the ballpark amounts for what the final bill will be.