The Mainstream Media Is LYING to You About Bitcoin!

This crisis is different, right? And I think we need an emergency break the glass plan. That was former Treasury Secretary Henry Paulson calling for an emergency plan. A plan for what? In a recent interview, he says a US debt crisis worse than the great financial crisis is coming. If bonds continue to collapse, we're in serious trouble. And at the same time, US inflation rose above 3%. The new Fed chair Kevin Warsh will be backed into a corner the moment he enters the office. How will he generate demand for Treasuries without blowing out our $39 trillion dollar debt problem? The immediate solution, stablecoins through Tether. With the US dollar's role as a global reserve currency fading away, America has two choices. Collapse like Rome or switch to a new financial system before it's too late. Today, I'm going to walk you through why Bitcoin is inevitable and why financial institutions are building the new financial system right now because they know the old system will collapse. But, mainstream media, what's the convention that Bitcoin is a tool for terrorists? This is Dante Coco Bitcoin Simply. Let's go. >> [music] >> Henry Paulson was the Treasury Secretary between 2006 and 2009 or the Great Financial Crisis. He was responsible for crafting legislation that led China to become the largest holder of US debt because no one else wanted to buy it at the time. And he's also responsible for the TARP program, the Troubled Asset Relief Program or the program that made banks too big to fail. The US government would start to buy all of their bad loans and their bad equities onto its balance sheet creating the debt problem that we have today. And although he wasn't perfect during the financial crisis, there's no doubt that he knows what he's talking about and he's seen this situation before. And he says today, we're in an even worse spot than we were then. This crisis is different, right? If when you hit the wall and you're trying to issue Treasuries and the Fed is only buyer and the prices of the Treasuries are going down and interest rates are up, that's a dangerous thing. And so, I what the thing I am talking about now is we know people say, "When are you going to hit the wall?" I obviously don't know. It's impossible to know. But, the law of economic gravity, you're you're not going to know that. So, and when we hit it, it will be vicious. So, we have to prepare for that eventuality. And I think we need an emergency break the glass plan which is targeted and short-term on the shelf, so it's ready to go when when we hit the wall. >> He's calling for a break glass emergency plan because he knows no one wants to buy our debt. With the yields rising, we now have to pay back more in interest. At the same time, we have rising inflation. Inflation just hit 3%. So, if we do cut rates, well, we're going to be unleashing more inflation to an already hurting economy. Paulson realizes that the only way to finance your deficit debt machine is by papering over the old money with new money. And this signals the beginning of the end. We've seen this before. These sort of collapses in currencies precipitate the collapse of societies. Check out this conversation between Freddy New and Peter McCormack. >> Um last time we had you here, I learned that you studied classics. I did. Based on your study of the classics and the fall of Rome, how do you compare it to where we are now? Currency debasement is a fantastic place to start. So, the obviously we're all familiar with sterling pound to pound sterling. Over the past 100 years, the pound sterling has lost about, I think, 95, 96% of its purchasing power in the last century. And then if you lay that over the currency debasement in ancient Rome, the denarius started to lose purchasing power around about the time of Marcus Aurelius, the gladiator emperor. Most people will know him off. Played by uh Richard Harris, I think it was in Gladiator. Um then over the next 150 years, that had a comparable decline in value. Its purchasing power by the time of Diocletian was 3% of what it had been uh in the time of Marcus Aurelius. So, in terms of pure time and pure number, those are worryingly similar to each other. Why is money the linchpin to the collapse of a empire? Well, I think it's because money is so fundamental to humans and to human society. We literally could not function without an abstract form of value that we can use to exchange goods and services. Uh most of your listeners will already be familiar with the coincidence of wants problem. The idea that if you have an apple and I have a house, you we can't trade between each other unless maybe you've got half a million apples and you can sell those for something that I also want. Uh so, that's that's the coincidence of wants in a nutshell. And money is crucially important for gigantic power structures like the Roman Empire and complex civilizations like our own because it really underlines who is going to end up in power and who's going to make end up making decisions that affect the economy and the people who live in it. >> All right. This gets back to the point that Michael Saylor brought up in my last episode. Fix the money, fix the world. Money is the underlying thing that unites all of us. We need it to have basic accounting of who owns what and how much of that thing that people own, but it also allows us to trade and barter. Without money, our system collapses. And without money, governments lose control of the power that they have. Therefore, they always take any means necessary to control the money and the money supply. And right now, there's no question that the parallels between the British pound and the US dollar collapse are striking. Around 2000, the United States dollar had about 60% of the global reserve currency market share. Now, we're at less than 40% and declining fast. The major difference between Great Britain and Rome and now is that we have an opportunity to build an off-ramp before we get into this mess, the eventual collapse and decline. And the United States has an opportunity through the Clarity Act to extend its dollar hegemony. And the greatest and quickest way for it to do that and also solve its debt problem because foreign buyers don't want to buy as much United States debt because they don't trust us is Tether. Through USDT and their new Tether wallet, millions and billions of people will be able to have digital synthetic dollars that are backed one-to-one by United States Treasuries and then the profits from that are taken and put into Bitcoin and gold. Bitcoin is clearly going to be the winner in this race and the existing financial system knows that the current one is collapsing. That's why 60% of all of the major US banks are getting into Bitcoin products. Do you hear that? That's the sound of Morgan Stanley ringing the closing bell at the New York Stock Exchange for the launch of their new Bitcoin ETF product MSBT. But, that's also the sound of the train getting ready to leave the station. Financial institutions know that it's time to get on board or they're going to get left behind. Traditional finance is a large industry to completely uh slowly uh for them to all adopt this new technology and for this technology to be fully integrated, fully it immersed in in in all areas of finance, just takes time. A lot of incumbent players are resistant to change. Their business model is fine without blockchain and then they don't want this thing. But, the guys who resist over time will be left out. Um this is like, you know, the bookstores. If they launched uh e-commerce early, they might not be in Amazon. But, if they resist, um then they they get actually give all the future to Amazon, right? So, um so, I think this is most likely what's kind of slowly happening. Um many governments also don't want to give up their uh ability to control currency, um which uh you know, uh is hard for them to give up. But, it's happening. Uh this technology is there. It will happen regardless, but it just takes time. Bitcoin is a neutral system that is inevitable that allows us to get out of the mess that Rome and Great Britain could not. It cannot be stopped. The only way that it could be slowed down is through legislative means and through mainstream media manipulation, controlling the narrative and the propaganda about what Bitcoin actually is. Through their eyes, it's a tool for terrorism, crime, and fraud. Last year, uh a crypto uh organization estimated, crypto company, estimated that $154 billion of illicit activity was financed via cryptocurrency. $154 billion last year, and that was a crypto company that made the estimate. Here's what's crazy about that. So, Donald Trump is literally shilling for the product that allows our enemies to avoid our sanctions. Is that what this ultimately Yes. >> wild. Hold on. Newsflash, I hate to break it to you. You said $154 billion in illicit activity. I think you have something on your face. Well, that's because the existing financial system is responsible for over $3 trillion worth of illicit activity every single year. But, let's get back to it. >> It's wild. And to give you an example of how deep the corruption goes, the biggest stablecoin company by far is this company Tether. And Tether it their broker is Cantor Fitzgerald and Howard Lutnick was >> What? the commerce sec Yes, that's how I mean, guys, we're talking about >> Tether. Yes. And like, who knows what's actually going on cuz you said it's synonymous. But, is it possible that through Tether, Russian oligarchs are moving oil to let's make it worse, moving Iranian oil to China in exchange for drones and weapons? Well, it's not only it's not possible, it happened. It does happen. I mean, if you you can read you can read stories about this. >> And Howard Lutnick profits from that. Or his kids technically cuz he's technically not the But, I mean, come on, what are we talking about? Yeah. Holy All right. This breaks my heart because John Stewart like me is a William Mary guy and we're supposed to be some of the smartest people on the planet. I hate to break it to you, John. You cannot move Iranian oil or Russian drones through the tether or the Bitcoin network. That's simply not an application that blockchains are capable of. And then, I mean, can we talk about Jeffrey Epstein for a second? Uh I I'm not that I'm aware of. I don't I don't think you're allowed to. Yeah. So, is was he an early crypto dude? Is that what that was? >> Yes. So, his trafficking was enabled by that same system. One can assume. I mean, you don't have evidence of it cuz again, pseudonimity pseudonimity of the ledger and who knows, but we'll be going >> redactions and redactions. >> And redactions. But, here's what we know. We know in the emails that Epstein was uh funding something called Bitcoin core development, which is the group of programmers, software engineers who maintain Bitcoin's operating system. Yes. >> There are people behind this supposedly, you know, computer completely computerized future. So, he was funding that through the MIT Media Lab. You remember the MIT Media Lab? There was a blowup some years ago, big article in the New Yorker. It's like this offshoot of MIT this guy Joi Ito was running and they were had relationships with a lot of very wealthy people including Bill Gates and funding various projects. So, Epstein was was basically funding, keeping the Bitcoin system alive in 2015 at a point when it was kind of languishing. Silk Road had been shut down. There was a lot of fighting. And and why would why would Jeffrey Epstein like crypto? Well, if your main businesses are blackmail and money laundering, you know, We have we have buried the lead here, Ben. Wow, [snorts] just wow. I don't even know where to start. Jeffrey Epstein single-handedly kept the Bitcoin network alive in 2015. He funded all of Bitcoin's core development. So, therefore, he's the one that controlled the entire network. He used it to do all of his trafficking activity with. Well, we know one thing is possible even with the redactions. Jeffrey Epstein's actual banker was Jamie Dimon and JP Morgan Chase. They admitted that all of his accounts were with them in their bank. So, where did the illicit activities actually come from? Before we go any further into this mainstream media FUD, let's thank our sponsors. 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Learn how to manage a private node so that you can manage your wealth anonymously, securely, and confidently. A coach from their team will walk you through step by step how to do this. Go to the bitcoinway.com/partner/dante-cook to hook you up. You're going to keep hearing mainstream media talk about Bitcoin as a tool for terrorists and a tool for crime. But, even they can't deny the inevitability of Bitcoin. Uh they're said to be paid to Iran in Chinese yuan or crypto. The Bitcoin Policy Institute says bad actors are usually paying with stablecoins and US authorities are cutting them off. Watch. Stablecoins can't be confiscated, but they can be frozen. So, if you're a stablecoin user who's working with the Iranian regime, your wallet can be identified if you don't practice good operational security and Treasury can sanction you and make it so your stablecoins are moved. That runs in contrast to Bitcoin where you can identify whatless actors are using Bitcoin, but you can't freeze somebody's Bitcoin in the same way you can freeze somebody's stablecoin. And that is an unintended consequence. I do want to say that crypto is a lifeline for many of the Iranian people as they see the value of their currency get devalued, but it's also a way that bad actors do things and we're noticing it and as I said, cutting them off. Bitcoin is a lifeline for anyone that has a debasing currency, which is everyone in the world and increasingly more and more in the West as we experience the same decline that we talked about earlier with Rome and Great Britain. Bitcoin is a neutral tool that provides the US government a means to build an off-ramp out of the system where their only recourse of action is to print more money and kick the can down the road. Paulson himself said that we need an emergency plan right away because he sees the problems happening in the bond market. With inflation running hot and a war continuing in the Middle East, well, we don't have an option but to continue expanding our debt. We need to monetize a new system before the debasement of our own creates a collapse that we can't come back from. It always happens the same way. Bitcoin is the life raft. Don't believe the mainstream media. Before we end today, I wanted to give a shout-out to my man Hurley. He's joining the Simply team with his new show Truth Block. Hurley and I did our very first show together in January of 2024. I'm super excited to be back in the saddle with you, Hurley. Check out his first episode, which was absolutely fire yesterday. We drop fire content like this 7 days a week, which is why you should subscribe to the channel. This is Dante Cook with Bitcoin Simply. Happy stacking. One of the ways that you can stack beyond just buying spot Bitcoin is by buying it through Bitcoin mining. The members from the team from Saz Mining will help you select a machine. They'll keep it running for you. They'll maintain it. They'll repair it if it goes down. They'll make sure that sats are flowing to your wallet at all times of the day. Use the QR code to get started. And with that, we're out. Don't believe the FUD, baby. >> [music] [music] [music]