Global Monetary System is Changing For the Better, But it Will Be Chaotic: Jeff Booth
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- Опубликовано: 2 июн 2024
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Author of 'The Price of Tomorrow' Jeff Booth believes a monetary shift is already underway towards a decentralized ledger in the form of Bitcoin. Jeff explains why he thinks this will be a slow transition, fraught with chaos and conflict, before enough people ultimately catch on to how Bitcoin can transform the world for the better.
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00:00 Introduction
03:20 Lifecycle of American Empire
06:29 Transformation of Monetary System
17:43 Can Bitcoin Be Manipulated?
22:20 You Can Escape Debasement
25:07 Monetary Change Will Take Time
29:44 BRICS Currency
34:48 Central Bank Digital Currencies
39:02 Will the Citizens Rise Up?
44:23 Government Manipulation
47:40 Staying Mobile
50:14 Technological Innovation
53:23 People are Bad Risk Allocators
#bitcoin #money #monetaryreset
Jeff Booth is a great mind and soul for these times. Thank you Jay and you are very special as well my friend. Great Interview.
“Modern money is just a ledger” Few understand this
Booth is quite simply brilliant and a visionary. He will be proven right again.
Great interview J! Booth is always a mind bender
We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest
People believe their currency has the worth it does because they have no other option. Even in a hyper-inflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.
I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, do think your Inv-coach could guide me with portfolio-restructuring as i wouldn't mind a recommendation
My Financial adviser is "Isabelle Chloe Scott " and she's highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
The softest-spoken revolutionary, Jeff Booth is. He can be so calm yet say things that are positively incendiary in other circles. Bravo, Jeff!
Politics is theater on top of a dishonest ledger. Jeff Booth
Love Booth. Eventually this audience will understand he's right or just call him "lucky"
Great job Jeff. Its a difficult crowd on this podcast and most listeners won't give you a chance given your positivity towards bitcoin. A few will, though, which makes it all worth it.
Anyone reading: gold works, but not for fast paced digital settlement. Lots of us with bitcoin still have our gold. We believe in the same things. Give it a chance.
If gold worked we wouldn't be in this problem now by being taken off of the gold standard
Bitcoin > gold
Everyone will be forced to buy Bitcoin at some point as the game theory continues to play out. If people want to write it off now that’s their problem. They’ll stack less sats later
@@yasminross4452government wants to deficit spend like a drunken sailor and make everyone else pay for it. Much easier to do so with a fiat currency
Mad respect for Jeff Booth! Thank you for bringing him to your viewers!
He brought me to your channel so I’m checking you out. Win win.
Thanks guys - Awesome interview, extremely insightful.
Jeff speaks confidently. He knows what he’s talking about.
Jeff is the man who explains it very elegantly!
Great show always enjoy jeff
Larry Leapard, who runs some gold funds, says that he polls his circle of gold holders and it's now more than 50% who hold both. We are natural allies. One aspect of Bitcoin that may appeal to gold enthusiasts is Bitcoin is fully and completely audited every 10 minutes with each new block. Unfortunately, no way to audit gold in the system in the same way.
The MOST cogent, thought provoking presentation for
Me this year. Bravo to you both
Booth is the reason I got out of crypto and into bitcoin only. I have a lot of libertarian ideals and always knew there was a problem with our monetary system. Bitcoin is an opportunity to fight back with a completely new system.
This is the way. There’s Bitcoin and there’s everything else
Individual countries need the tools of fiscal and monetary policy. They will not give up having their own currencies without a fight.
They lose the fight without any viable alternatives, they’ll lose it even faster now
Great interview!
What a wonderful interview. Jeff Booth is amazing! Subbed just because he was a fantastic guest! 🔥🔥🔥
Hold Bitcoin and gold.
What about silver
Bitcoin only
I recommend folks who enjoyed this conversation read Jeff Booth's book. Thought provoking; just an excellent book.
Great interview Jay
Jeff has a excellent perspective on Things 🤠
Simplistic understanding of Bitcoin
brilliant analysis
Great information
Wow. Jeff does a great job explaining the real world of CBDC
Great interview. Great way to speak about the future system of conservation of wealth.
Jeff Booth is brilliant!
I don't know how to start investing bitcoin. Help
Jeff is brilliant
Booth, Alden, Saylor, Antonopoulos .... thanks
I love Jeff 🧡
Who cares if btc can't be taken when you can't use it anywhere???
You're funny mate!! Halirious actually!
@@waynerichardson1051 Thank you. Where do you use your btc?
Why would you pay for something in dollars if you have bolivars? I pay for things in ₿ out of courtesy but if I'm being honest I'd rather pay in dollars right now because I don't want it.
All this has happened before and all this will happen again. If there is no expansion of the money supply debtors won't be able to pay back their debt. Bad for them and those who own the debt. "The Wizard of Oz" all over again. What was that book really. about? Hint - those were silver slippers not ruby slippers.
My particular hint would have been a reminder of what color the brick road was, but we're essentially on the same page.
Prices falling exponentially for everything. Exactly. And independent of the economy Ray Kurzweil said that products and services will become dirt cheap. That's why I'm such a huge fan of China's technological progress because it seems to me that they have the best development and momentum to make that a reality as soon as possible globally. So I think that's a good thing!
Only two with clarity.
Get Harry D back now
Me thinketh with soany excellent podcasts our there it's important when guests are., respectful of........other people's time!@!?🤪😉
Canada IS a dictatorship...they just haven't gotten around to dictating to you yet.
I'm Canadian and will be leaving as soon as possible. Where? Somewhere that deserves my spending.
So.... bitcoin can't be stopped.
Is that practical theory or hopeful theory?
Simply, if use of bitcoin as tender is outawed how can that be overcome in practical terms in society?
People will move or destroy their seed phrase and remember it. The whole point is that it is close to indestructible. China had more than 51% or validators in its borders. Then it banned it, transaction fees went up for a bit, people moved or reacted to the market, fees went down, bitcoin never missed a block. A less authoritarian goverment with less tracking ability basically ended gold as money with one order (6102) in the 1930s.
$CRU is an amazing project
#Gold #Silver & #Bitcoin to the 🌕 baby Sound Money > Fiat Currency
It's not for the better.oh better control
The "price of production for a line of code" is Not free...unless, you are one of the few that produce (Server power) for free with on site free energy...like PV🌻
Nothing is free, PV I assure you costs money.
@@collinblatchford If u collect rain...is it free water?
Is the air you breathe free?
HP calculators used to be $250. Now they are free in the app store. That code is indeed free and shows how radically deflationary technology is. Cheers.
@solartime8983 Solar panels do indeed cost money and have a useful life of about 25 years. So PV energy has a cost and a recurring one. Collecting rain also costs money or labor. Also need to store it and sterilize it.
"All prices are decreasing and will do so forever." Really? Would that include materials like land or minerals or something else of limited supply when demand rises or supply declines? .... regardless the ledger, any ledger.
Nothing is scarcer than Bitcoin so all prices will fall relative to it. That's his point
@@goobtronExactly. Some things will fall in Bitcoin price faster than others, depending on their scarcity. But everything that can be created more of, when demand for it increases, will fall relative to Bitcoin because Bitcoin is the only thing that more of cannot be created, no matter how much the demand for it grows. Some things, that more of can not be created, such as the Mona Lisa, will not fall relative to Bitcoin, but such things are considered priceless and will never be for sale.
The NAV of bitcoin has to be a negative number. It's an attenuating electronic digital fart with a chart. Total nonsense. Best wishes.
Fiat currencies are a wasting asset. Most fiat currency is borrowed into existence. Always been that way and will always be that way. If there is no new credit and debt creation we will have a depression.
❤❤❤❤❤ I don’t know if we were weeds
just understand that code is not free
it is amazing when a person with 0 tech skills has a rant about coding
One of his examples is an HP calculator. Used to be $250 but is now free in the app store. That code is indeed free. Jeff is one of the original tech entrepreneurs. He advised the Google founders. Best regards.
@@ericreslock100 I do not really care who the guy is when things a person say is wrong.
Apps gets access to all your data so you still pay with your data.
Close to "free" soft is open source. However, ppl who can assemble that code and make use of it are quite expensive.
Right. I think Jeff would concede your points. Yes, it takes a phone and a data plan to use apps. I like many have an unlimited plan so these are "free" for me, but not for everyone. Another example he cited is with pictures. Kodak kiosks in the grocery store parking lot vs. virtually unlimited with a smartphone. The cost is approaching zero and demonstrates how radically deflationary technology is. Best regards.
Money = gold and silver, fiat money = paper money and now digital currency. Everyone should have some money, gold and silver. Gold is indestructable with no counter party risk. All digital currencies including Bitcoin can be destroyed.
Gold has no counter party risk? Your gold can't be confiscated?
@@PrimordialEconomicsDon't bother helping them. That's a typical response of a gold bug who aren't open to any other opinion.
Good luck with that thesis
Serious question and I am actually interested in your answer (if im wrong I would like to know). How would bitcoin be destroyed or confiscated.
I imagine you don't look at notifications. I rarely do but seriously if you or anyone else wants to elaborate I would actually really appreciate it.
Gold is a shitcoin
Bitcoin is good, BUT non binary (eg Hexadecimal) computers will easily over power current binary computers.
Btc has no counter party risk? 14:59
Lol ! Wtf?
How about bank off ramp?....btc is not a good currency.
How about the internet or electrical power, a mobile phone, government laws making btc illegal all are limiting factors which are potential counter party risks.
20:00
Most people who have gold DO self store. He is simply wrong. Most people who privately own gold (China and India) have it as jewelry. Most Westerners, the world's minority holders of gold, do not have kg bars in a Swiss vault. They have a few bars, krugarrands, eagles, or maples at home.
Talking his book again
Stocks only go up.
😂😂😂😂😂
You mean stonks ? I'm all confused now. 🤔
The piece you are missing is that in order to invest in Bitcoin, you have to go through the Fed (takeover of two largest traders by the Fed and given to Big Banks). They will restrict that and cut you off from your funds in Bitcoin so you will have to use the Fed's digital currency. There is no way around.
Unless one takes self custody. For the government to confiscate an individual's Bitcoin, they would need to guess a number hashed through eliptic curve cryptography that is not far from finding an atom in the universe. As far as converting to USD, you have a valid point. Could still be exchanged peer to peer for dollars or goods.
@@ericreslock100need everyone on board then...no?
Increased adoption is necessary. Bitcoin people are not naive about malignant governments. But it's a global open network. China has tried and failed to stop. Ultimately, the game theory IMO is governments get massive first mover advantage by embracing, and at some point a government could print fiat to buy Bitcoin, while there is Bitcoin to buy.
Don't count your chickens, until they're hatched 😉💥
a global monetary system for the better.
🤦♂️
Argument?
The only "Trust" relationship I have with the Central Bank is this; for the privlage of having my head attached to my shoulders, I will meet my tax obligation, in full, on time, you get no 2ed chances! Gold isn't money, neither is Bitcoin, you pay your taxes in dollars
Good point, Fiat as Medium of exchange, BTC as store of value and gradually become unit of account and medium of exchange
It could be all countries will have CBDC's. They appear to be the future. Each person as well as countries can have their owm gold holdings. The efficiency of CBDC's will cause them to win out. Much faster currency conversions may make reserve currencies less important. Crypto will fade away because they will be regulated out of business. Too much crime and tax evasion involved with crypto. The U.S.and the EU need new protections for property rights and freedom of speech.
It isn't going to change...
A whole bunch of B>S to me Jay,
Your tag says it all mate!! Silver? Oh yeah that wankster banksters malipulated scam bro!! Seriously??!!
Why? What points do you disagree with?
@@collinblatchford he won't come back to you mate....he's a PM guy, especially silver!! You know, that other joke of a rock!!
As Jeff states, technology is a center to economic growth. Computing power is exponential. Technology and raw computing power will eventually corrupt bitcoin. Sorry but, it will never be what the maxis want it to. Far too much risk.
I have no idea what the fuck your point is
Think this guy is a techno hippy that has fallen I love with the idea of Bitcoin
Noob
Nonsensr
This guy sounds like something straight out of a university think tank with no connection to the real world or the real minds of human beings. For example, he likes bitcoin, but doesn’t talk about the negatives.
The negatives of Bitcoin? Like it doesn't have an owner that controls it? Like it doesn't have insiders that can hand it out to friends? Like it doesn't allow any cheaters and everyone gets paid fairly for work done with a free market?
@philfortner1805 more theories from a Michael Saylor clone
What are the negatives? Really - asking so we can have a educated discord.
Yup. Bit-cult gonna cult.
@@southernbanker1946 cbdc piloting for starters
The first 3 minutes is a completely useless intro. Please lose it for your next attempts. Thanks.
Here is a novel idea……skip ahead
@@agentdashboard exactly, if people only skipping ahead, why is it even there.
Bitcoin talk ...... out
Same here.
And you lose 90% of your wealth to inflation before you realize there is no alternative. Everyone gets the Bitcoin price they deserve.
@@philfortner1805 never going to buy bitcoin. Not an attack on you. You should do whatever feels right to you. To me bitcoin is a made up delusion. Like the meta verse. Not for reality
@@philfortner1805You couldn't have said it better. EVERYONE GETS BITCOIN AR THE PRICE THAT THEY DESERVE
"Everyone gets the Bitcoin price they deserve"...I'm sure it's been said many times. First time I've heard it. It's thought provoking for sure.
Wasted 15 minutes of my time.
Deeper thinking required...