Episode 7 – Captain Draeth: Pirate Chain (ARRR) & Privacy Cryptocurrencies

George Papp from The Conscious Renegade joins Draeth from Piratechain for a fascinating conversation on the bleeding edge cryptocurrency pushing the bounds of private blockchain transactions and cryptography. Draeth introduces how he got started with Piratechain and is involved in the community while showing us a vision for a world where both private and transparent blockchains can coexist – each useful for different types of applications. You’ll get a history lesson about the origins of Piratechain as well as your questions around code audits and pre-mined coins answered. The Piratechain team also teases an upcoming hardware wallet using zk-snarks that would be the first of its kind in the crypto space as well as other upcoming roadmap milestones. Draeth leaves us with some insight on the value of your data and how you’re giving it away for free to corporations who use it to profile and target you.

The Conscious Renegade is an independent media organization striving to educate, engage, and empower you to be the change you want to see in the world. Whether you want to quit your nine-to-five, find financial freedom, or make a positive difference in society.

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Privacy and Investing Strategies to exit the Great Reset

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Roadmap: https://pirate.black/pirate-roadmap/

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Piratechain Merchants

BPSAA – Blockchain Privacy, Security & Adoption Alliance

Interview with Captain Draeth: Pirate Chain (ARRR) & Privacy Cryptocurrencies

George Papp 0:08
Hi, welcome to the Conscious Renegade Podcast with me George Papp, helping you to be the change you wish to see in the world.

Today we are joined by Captain Draeth of the cryptocurrency Piratechain. And we’ll be discussing alternative economics and crypto to free people from the current system and the potential coming Great reset. In regards to updates with Cryptonomous, we are launching the membership. Now we have a date of the first of July. So keep your eyes peeled for that. We’ll give updates soon on when those will be up and running. So thanks again, Draeth for joining me. How’s it going on your site?

Draeth 1:06
Thanks for having me. Yes, things are going great man, except for the market.

George Papp 1:11
Yeah, we’ll definitely ask your opinion on what’s going on in a bit. I mean, it’s obviously an interesting time to be discussing crypto. But yeah, thanks for joining me and taking time out for this. I know you we’ve wanted you on for a while to discuss what Piratechain can do. And what we can often say to people, I guess, to kick things off, we wanted to, like I do with most guests is just to have a look at your story and how you manage to I guess get to what you’re doing now and in contributing to pirate chain. And you’re sort of what’s your story in, in essence.

Draeth 1:47
So I started off in crypto in 2016. And it naturally kind of drew me because, you know, being able to control my own money, for one and two, just the different types of things you can do with the new innovations that crypto is coming up with just you know, it’s fantastic. And I was always a huge, huge advocate of privacy and, you know, security, things like that. So, you know, I started off as you know, miner of Litecoin, and just various things like that. And then until I stumbled upon Piratechain in October of 2018, which is two months after its launch. And I started mining that because you know, I found out about it through a couple of videos and things like that. And what really, really stuck me to the community was that or to the project was the community for one and how helpful and knowledgeable they were. But to how like just reading into the technicals and reading into all these different things just really floored me in terms of like technology behind it with zero knowledge proofs and all this amazing tech, including, like delayed for work and everything. So at that point, I was like, you know, this is something that I really, really want to stick with. So I started trying to help out with anything that I could in terms of community management, or just promoting in general and one of the old captains fishy guts actually got me to start a business that accepted Piratechain, and I created, you know, this crypto coins and stuff. And it was just a lot of fun. And then, after a while, it just became something that I was super passionate about, and dedicated a very good portion of my time to assisting and doing whatever I could. And over time I got eventually promoted up the chain to captain. And now you know, I helped lead the ship in terms of the direction would go with promotion with pretty much anything that I’m able to do. So

George Papp 4:16
yeah, I can tell with the team with you guys. You’re all very aligned in and sort of morals and ethics think is very important. And it also shows the continuity. And it seems like you know, you can tell a scan by the team. And I’ll definitely know that, you know, the team. We’re at Piratechain. I mean, it’s definitely there for for the cause. And yeah, like I said, it’s been a pleasure to speak with all of you to be honest. I think one thing, one topic we want to discuss is I know you’re obviously in the space, but I want to talk about the overall crypto solution as an economic solution for freedom on your end life. What’s your views on on crypto being an economic solution? It kind of gets a lot of people on both sides of the coin. You know, people say that crypto is that digital money that eventually will be sort of taken over and sort of be just like, a doorway to the CBDCs. But other people, you know, realize that the privacy aspect and and having our own sort of limited supply type crypto can be a solution. But what’s your thoughts on crypto as a solution in our current society?

Draeth 5:34
Well, crypto is it’s too broad of a term really, in terms of being a solution for, you know, money in general, because there’s so many different applications that crypto can be used for, but speaking specifically on currencies, for them crypto like Bitcoin and fire and things like that. A problem is, when it comes to CBDCs and things of that nature. The biggest issue is its transparency, right. So whether it’s transparent to the public or transparent to a select few, that’s what that’s when it becomes a major issue. Because now you have people tracking everything you do everything you spend your money on, and so forth. Now, the solution comes in privacy coins, whether it be pirate chain, or, you know, quite a few others that are out there that actually have some really solid privacy aspects and features to it. Because with something like pirate chain, you can’t track it. It’s literally impossible, what the moment you send something to somebody, nobody can see that transaction. Nobody knows how much was transacted while the Tresor went to nothing. They just know that something happened on the network. And that’s it. So the analogy I like to use is, it’s like having $1 in my pocket. And then me thinking to myself, Okay, I’m gonna send it to this person here. That person knows I sent it to them. But or knows the address that it was sent from. But aside from that, nobody else can see where that dollar went, because it just disappeared and reappeared in that other person’s pocket. As compared to say, like Bitcoin, for example, which is completely transparent. Everybody can see that I send money across the table to that other person, everybody’s watching, everyone seems to have a wallet, everyone can see any detail of that transaction or of my wallet or wallets that I own. And that’s an issue because you don’t want to do you don’t want people to see your private information, load woes want people everyone to see your personal finance. So Piratechain solves that by making everything completely private.

George Papp 8:09
Yeah, it’s, it’s interesting, because the you can see that in not only for us freedom based individuals, I think there’s definitely a use case for businesses from in regards to sort of private blockchain technology, who would want all their information on business and supplier details and you know, all kinds of payment details from a business point of view, to be seen by everybody. Now, we can flip that, I guess, and say that maybe there are a lot of use cases for transparent blockchains. Especially if you believe in government, having a an open ledger, transparent to all of society in regards to maybe tax expenditure, wherever your view on taxes would be a useful thing. But I think in this case, having a tool like pirate chain and and others that are fully private, there’s so much use case for that, especially in a world where we are now and even even in a world where it wasn’t in this way, in the sense that there are illicit actors, prying over your funds, and then they want to know everything about you. But yeah,

Draeth 9:19
not only that, I mean, when you look at transparent blockchains, they there are tons of use cases for them. Yeah, not in personal finance. But when it comes to public finance, or say voting or when it comes to say donations specifically to politicians and such. Those things I believe should be public and completely transparent.

George Papp 9:53
Yeah, exactly. Yeah. I think there’s so many use cases that you know, can prevent a lot of issues that we’re having at this moment. In the world, with transparent blockchains, for the public side of things. Great. Yeah, I guess, just to touch upon the story of pirate chain, I know you joined in two months after launch, or you got to know them at least two months after the launch. But what are your what’s your knowledge on how it started pirate chain and how it sort of grew as a as a crypto as a team, sort of where were the origins of Piratechain?

Draeth 10:29
Yeah, so Piratechain originated on August 28, of 2018. And it was developed by a bunch of different developers on Komodo who basically thought to themselves, is it possible to actually make a fully shielded chain using z k snarks, because at that point in time, the only chains that were available with Zk-snarks, which is widely considered the strongest privacy protocol was, say Z-cash, right, Z-cash was the main, one that utilized and developed zk-snarks into blockchain, but they also have transparent addresses on top of private addresses. Now, the problem with that is 95% of all transactions on their chain is transparent. Only 5% actually utilize the privacy features were shielded addresses. And the reason why privacy gets ruined with that is because if, for example, coins get sent through a bunch of different transparent addresses, then it goes to shoeless address, that eventually back to a transparent address, they can eventually be traced. Whereas with Piratechain, you don’t see anything that happens. Right. So once they started kind of digging into that, they got the chain working and up and running. And then from that point, you know, they dedicated some of their developers to help out and it was turned into a community project, to where anybody could really help out and, you know, push the push the project forward. So they gathered some of the best community managers, some of the best project managers that they could find, to help run the project. And then from that point, we just kept expanding in terms of personnel, community, and just pushing the message forward, that privacy is a fundamental right of all people. And nobody has any right to infringe upon your privacy without your consent. Show it so we just kept developing and developing until we were the first to actually have a fully shielded mobile wallet in the industry. We were the first do tons and tons of different things with zk-snarks. And we actually got recognized by quite a few people, including Monero and Z-cash. Manero complimented us on our anonymity set, because our anonymity set grows with every single transaction that occurs on a network. And just all the developments that we’ve made in this industry for zk-snarks and usage. We were complemented by Z-cash for that. So

George Papp 13:32
yeah, so we can tell the difference between Z cash and Piratechain. Piratechain is private by default, using the Z-cash narcs technology with Z-cash has but they don’t have privacy by default. So it’s easier for the blockchain to be read for the unshielded transactions make up most of the transactions, so it’s easier to sort of work out the private transactions basically, is that the jest that

Draeth 14:00
pretty much and we’re all going to be the first in the industry soon to have a hardware wallet that can actually utilize zk-snarks. So currently, there’s no wallet in the industry that can handle shielded transactions for zk-snarks. And one of our community members slash team members is actually developing an almost finished with a hardware wallet that’s capable of running pirate chain

George Papp 14:30
that will be an excellent solution in my opinion, I think you know, that sounds pretty revolutionary because I think we currently I mean, the hardware wallets currently. They’re not I mean, they they they don’t support Piratechain so I think having a hardware wallet is obviously advisable for especially long term holds and yeah, obviously having that for pirate chain is is definitely something definitely a good move forward in my opinion. How long are you until that, that

Draeth 15:01
sort of ready? Well, it’s been in development for over a year mobile rights been just, you know, working like crazy on this thing. And it’s been shown off his progress every so often. And he’s made amazing strides. And I think he’s finally at the point where probably I am don’t quote me on this because you know, things can change. But I would, I would assume that in the next couple of months, you probably start taking pre orders.

George Papp 15:32
Because that is something

Draeth 15:34
manufacturers and a bunch of other stuff to just get the final kinks worked out.

George Papp 15:39
Definitely something to check out in the next few months for sure. I’m definitely interested in that. And we can definitely point people in that direction once things get close to that time. So thank you, I guess there are some things we want to talk about in regards to there’s a lot of talk about, obviously, third party audit. In regards to pirate chain, potentially pre mine issues, I think we just want you to essentially clear up some of the sort of talk in the background of, you know, the third party audits that haven’t occurred yet for pirate chain. And and some of the other limitations that people have expressed in regards to the pre mine. Just maybe touch upon that to maybe clear up some of these issues that people might have and concerns.

Draeth 16:31
Yes. So while Z-cash itself, has their stuff audited in terms of their technology and everything, you know, it would essentially be the same thing for us. But the problem lies in the fact that there’s only maybe a few, in fact, companies in the world that can actually audit zk-snarks stuff. So finding those people, which we found a couple that can do it costs, ridiculous, I’m talking about several $100,000 to be able to just audit the code. But the also the other problem lies in, you know, can you really trust that they know what they’re talking about? You know, what I mean? So, it’s, it’s, it’s an interesting thing, because we’re really pushed to do it, which we started fundraising for, and still are, because, you know, we still haven’t met our goal of, I think it was like, a quarter million dollars to get the process started. And, on top of that, you know, when we find when we, I think we found somebody to found a company to do it. But then it was, I think a couple of community members or people from another project were like, Well, no, they’re not that great at it. So it’s like, Who do you trust at that point? You know, so it’s something that I mean, we’re not, I mean, we are actively working on it. But it’s not like a major priority at this point. Because there’s so many other things that we can be doing, rather than, you know, trying to raise money, and then trying to find a legit order that everyone agrees on, which is near impossible to find, let alone find additional companies that are able to actually audit. zk-snarks. So it’s, it’s, it’s, and it’s a monumental task to try to do. And that’s something that a lot of people don’t realize, because the thing is going to say like Ethereum. You know, auditors are a dime a dozen. There’s tons of solidity to solely solidity auditors, because there’s just so it’s easy code is to audit. Whereas zk-snarks is the math, the math required for this, it’s just saying, so. So that’s that. And then in terms of pre mined, it’s, people always get upset when they miss out on the beginnings of a project. And our emission rate was high, so that we can, like catch up to people like Mineiro, and things like that in terms of supply and everything like that. So what ends up happening is when you have people that missed out on the beginnings of a project, they get all fuzzy like, oh, you know, it’s a pre mine. This isn’t that. I mean, when you really think about it. I mean, how difficult was it to mine Manero back in the day when it first launched? Right? It was actually, for a lot of people. There wasn’t the software solutions or a lot of things that were that are currently out now. That were that, you know, back then it was really hard to do. Let alone you look at the amount have people that were in crypto back then that, you know, were actually mining Manero? It was only a handful people compared to you know, what? The average amount of people that mined certain assets today. So, if you really want to save it, you know, you can technically say, well, manera was pre mined, not many people knew about it, when it first came out, it was really hard to mined. So, technically speaking, it was, you know, for a lot of people, it was too hard for them to figure out and so forth. So, to me, it’s, it’s a stupid, stupid thing that was just, you know, people use his try to use this font. And it’s just, it gets old after a while, you know, it’s, it’s funny to see a lot of people stop saying that after a while, because they’re like, Well, you know, they can’t refute the things that we say like, well, you know, it’s it was available, we promoted it, do you want? Did you expect us to have millions of dollars to promote this, so everyone knows about it in the beginning? Now, there’s tons of projects that are out there that blew up during the crypto polish of a bull bull cycle that not many new people know about, because, you know, not every project has millions of dollars to promote their stuff. And that’s what it takes these days to get noticed.

George Papp 21:21
Yeah, I mean, some of those projects are probably no longer here. So there were Yeah, so you know, I think the testament is at least, you know, you guys have kept very consistent in the sense that your, your project is very consistent, the team is very consistent, and you have a very, like consistent sort of moral and ethical standpoint, I think that’s very important.

Draeth 21:48
And not only don’t have any dev fees on chain, or anything like that. So no, there’s a 0% of any transaction goes to anybody but the actual intended receiver, like you have certain other projects that have we like to call it dev tax to where a small percentage of the blocks mined, actually go to the project? No, so we have no, no pre mined for us. There’s no dev tax shot for us in terms of mining of things that this, nothing like that. So we’re literally operating on a zero budget. Because, you know, we all volunteer, we don’t get paid for this. And, you know, the things that we need to raise funds for we go through the community. Yeah,

George Papp 22:44
excellent. Excellent, I think, yeah, is a testament to knowing who, who you guys are behind the scenes. So yeah, I can definitely advocate for that on your side. I wanted to ask this, because a lot of people question crypto and if even being online, at any point, means that you’re totally private. So I wanted to put it to you, in a sense that can you ever be fully private? In a sense that, will anyone? Can people just know that you’ve bought a pirate chain? Or whether you own pirate chain? I believe, I mean, you probably can’t tell that you’ve how much you bought, right? But Can people or you know institutions? Or anyone really, hackers know that you’ve bought pirate chain? Or is there is there actually ways where you can buy a pirate chain without any sort of footprint online? Let’s say?

Draeth 23:43
Um, so the difficulty about that is the fact that in order for you to really know not leave a footprint, is if you were to say, trade assets. Regardless of what that asset is, does that mean you can give somebody Bitcoin, then you receive Piratechain, that really doesn’t matter, because nobody’s going to see that pirate chain transaction. So they just see that, you know, like, from an outside perspective, you see Bitcoin going from one place to another, but that’s all you see. You know, so, realistically, if you want to try to not leave a footprint, then it’s, you know, utilize VPNs and such like that. So you don’t know what sites are going on, or whatever, you know, to encrypt your data and stuff, but the thing about Piratechain is that it doesn’t matter if somebody’s monitoring your network, you know, because it’s all encrypted. So it’s not like people can see just because they’re on their network or network that, oh, wait, they’re receiving power chain, or they’re sending pirate chain, they have no idea because it’s all encrypted. And on top of that, you can utilize the built Tor and stuff with our wallet. And soon, hopefully soon, you’ll be able to use ITP as well. So we have additional security features built in. So it’s like encryption on top of encryption. And so it’s for somebody trying to see that, you know, you’re making a transaction unless they’re actually on your computer, looking at it. You know, there’s whether that be in person or like through spyware of some sort, that where they can see your screen and see what’s going on. Nobody’s gonna have any idea that you’re actually sending or receiving power chain. Yeah, and I

George Papp 25:50
think I just think that it’s an important point to make. I think you gotta have everything, I mean, without sounding completely paranoid, because I think you can go too far in a sense that you need everything not to be seen, in the sense not of the transaction, but even like you buying certain things like Piratechain, or even just making a transaction from different assets. But I think what Piratechain can offer towards freedom is definitely the community aspect of if we use Piratechain, as a method of currency between us, it cannot be tracked or extorted, whether whatever your views on tax, for example, but not just that, in regards to if you’ve bought something and you know, you’re not allowed due to your social credit score, they can’t do that with pirate chain. So as an alternative solution to the ever increasing surveillance, monitoring of digital money in traditional finance, Pirate chain can really be used as that, that sort of added tool in your toolkit to actually be able to move around that system. Once an effect comes in, in regards to CBDCs, which looks inevitable. Yeah, so I guess let’s move on to thoughts on the current market, because so much has happened since we last spoke together a few months back. What are your thoughts on the current market? And you know, what’s happening at the moment why it’s happening? And what you see in regards to the future of crypto?

Draeth 27:29
Yeah, so basically, obviously, we’re in a bear market right now, which was pretty evident. But the thing that really kicked it off to where it is now, was the fact that LUNA was just basically destroyed, which was, you know, a top, I think it was a top 15 Crypto, and a lot of people utilize the stable coin and LUNA itself. And when you will look at what happened. It’s like billions of dollars were just erased almost from just people’s homes. So there’s a lot of people take advantage of the arbitrage opportunity that went on between the stable coin and Luna itself. So where it basically got depay. So a stable coin, as you know, should be pegged at dollar if this was at like 80 cents, and then the arbitrage which was so hard that literally dropped it down to 50 cents and then just went downhill from there. So a lot of people get affected by Luna which causes a huge ripple effect all over crypto. And then you have this stuff now with Celsius and you know, various other things that are going on that are just causing issues. So it’s not a fun time for sure.

George Papp 29:01
Do you see the end in sight?

Draeth 29:05
Well, here’s here’s the way I look at it. You look at all these other times that all these quote unquote industry experts say oh crypto is dead crypto going to zero bla bla bla bla bla they’ve said it so many times in the past, I mean, most recent or not most recent but the last example was 2018 Right? So Bitcoin had just reached his all time high of like 19 change. And then they just started dropping and dropping and went all the way down to about $3,200 I think it was late that year early the year after and then it just stay in that low for you know, quite a while and then finally out of nowhere just rose up to eight grand and then kept rising from there. So realistically, it’s just going to be awhile, it’s going to maybe be about a year or two, in my opinion in terms of a full recovery, plus going back to potentially new all time highs and all that other fun stuff. And that’s why the comb cycles, you know, so we’re in a bear bear market cycle right now, in my opinion. And then eventually, you know, once we get out of that bear cycle, we’ll go back into the bull cycle. And then you’ll see all new cryptos pop up, you’ll see all new scams, obviously, you see all these new innovations that will be coming out of crypto during that time. But the important thing is, it’s, if you want to find out what projects are legit, look at what they’re building during bear markets. Because it’s during the bear markets, when there’s no money really to be had compared to a bear market. Compared to a bull market, you’ll really see the dedication of a team, when you see them build during a bear market.

George Papp 31:05
Yeah, and you can the lie, I’ve said this to many people is like this is when you see a lot of the ship coin and you know, poor protocols really just go and you have the ones that have solid fundamentals and the legit team behind them stay and build for the next Bull Run. And I think that’s a very big an important aspect for people to know, what are fundamental, fundamentally good projects, and, and research the team etc. Because just going with hype and stuff, it never works out.

Draeth 31:46
You have to think about what you’re really in it for, as a user, not as a product, but as a user. Are you in it for making money? Or are you in it for actually utilizing the technology is severe enough for utilizing the technology. And you’re upset about you know, well, prices are down? Well, that’s the thing about crypto, use it, use it for what it’s intended for, right, for example, with higher exchange or chains of currency. And we have something called the Armada, which is a AR AR AR ma da.com. It’s a store directory of all stores and services that accept pirate chain as a payment. So if you want to support a project, or, you know, you want to hear in crypto to, you know, use it for what it’s supposed to be use for then use it. You know, that’s the best way to gain adoption, the more you use, some people use the thing that’s intended to use for the more traction it gets over time and more stores will accept it and so forth, we have like, I think it’s over 120 different stores right now in counting that accept Piratechain as payment. Yep. So if we continue with people using Piratechain, oh, stuff that’ll just continue to grow. And you’ll see a lot of adoption come from it. You know, and then over time, during a bull market, for example, if you’re if you’re the type of person that only cares about price, that’s when you see the price shoot up. Even more so than any other crypto is that, hey, it’s being used, it’s actually being used next to one of these other Kryptos that just are supposed to be currencies, but they don’t go after no places to accept them as a form of payment. They just go keep going after tech, which is great. But you don’t get any traction because nobody’s using it for what it’s supposed to be used for.

George Papp 33:55
Yep, we’ve, I’ve said this before, I don’t even think some in soon in the future, it might not even matter how much Bitcoin or Piratechain and whatever will be worth in dollar terms. I mean, personally, I use pirate chain as a form of payment on order as well, which I’ll put in the link in the show notes. For anyone interested in accepting pirate chain I do myself. And that’s how we, you know, we actually change our community and help each other by accepting, you know, these sorts of privacy focused coins. And I know that you guys are really focused on getting businesses to adopt your currency and actually using the currency which is it’s crazy to me that not many people think about that. They just think about how much it’s worth in Fiat dollar terms, which is, which is I mean, it’s crazy to me, when the actual technology is there to be used, and it’s ready to be used. Yes, I mean, what’s next for pirate chain in regards to updates and what’s next in the actual world? roadmap.

Draeth 35:02
Yeah, so in the actual roadmap, basically, we’re going to be listed in additional third party wallets. You know, relatively large ones, I should say. We are working on getting ITP integrated into our wallets. So this way, you can have a choice between utilizing ITP or Tor. And knowing that there’s pirate poker, that’s going to be coming out probably, hopefully, in the next few months or so, which is anonymous poker. I know, there’s a lot of people that wanted to get that built. So that’s something that one of the dev teams is working on. what else what else, we just got accepted by a, what do they call it voluntaryism in action, which is a nonprofit, that actually does a lot of good work around, you know, places around the world, where you can actually, you know, donate to them to actually help out and everything, and that they accept Piratechain as a payment. So that’s something recent that would happen that one of our community members actually teammates, I should say, Luna worked day and night getting that set up, which was amazing. There’s just tons of stuff that we’re currently doing behind the scenes as well, that we don’t really talk too much about or don’t talk about at all, specifically, because we don’t like saying things in public and then having the public continue to wonder when it’s going to be produced. If it’s something especially if it’s something that it’s going to be a long time before we finish. I mean, prime example. There’s something that I that I’m actually doing a lot of research into and getting my developers looking into for pirate for an escrow service. Right. I haven’t released many details about this at all, specifically, because, like I said, I don’t know if it’s possible. And if it is, I don’t know, how long would it take to develop, and also his stuff. So if we feel like the best way to really push out information and to announce things is when we’re 100% sure that it’s able to be done for one, and two, we’re getting close to getting it finished. Because at that point, once you actually are close to getting it finished, then the logical question of the community would be, when is it going to be available? You know, so imagine if you just stopped working on something, you have no idea when it’s gonna be finished? Or if it’s possible, and people keep asking you, hey, when’s this going to be done? And then you’re like, I have no idea. That’s not like, a one and two, you want to make sure that you don’t hype, something that, you know, will be a long time away. You know, so when we do something, and we announced it, that’s when you know that, hey, this is for real, this is coming soon. And so it’s

George Papp 38:24
definitely better to over deliver than meant to under the under deliver. And always over promise and under deliver. over deliver. Yeah, yeah, I was trying to get that. Yeah, exactly. And yeah, I think that’s the best way to go. No Hype, just get get your work in the background. And when when things come out, they come out and it’s you know, it’s 100% Ready, and not some bodge job or, you know, delayed thing that people are still waiting for. So, then other projects have definitely had that sort of thing going on

Draeth 39:04
to that same point, but you know, we have we’ve had that same issue before. The thing is, we just learned from it, you know?

George Papp 39:11
Yeah, exactly. I’ve had that with this actually, to be honest to releasing this podcast and, and having having my episodes delayed. For launch. To be honest, I’ve had to learn that as well. I guess the last thing really to touch on is always ask this is what advice and key takeaways Can you give my listeners to to implement strategies into their lives to truly help them free themselves from the current economic climate or just to be able to implement strategies for freedom? I guess in regards to pirate chain, but also other things as well that maybe you’re doing personally.

Draeth 39:54
Yeah, just take a look at take a good long look at everything you do on your Your daily life and see the various places where your information is just you’re giving it away, essentially, right? One example I love to use is, for those who are in the US, there’s in food stores, they have, like MPP cards, right? Which is something that, you know, you scan it, you get discounts on, you know, various products and items, you know, that are on sale. Now. Those things are free to have like, you don’t have to pay anything for an FTP card. But you have to stop and think, What am I? How am I getting these things for cheaper? Why what is special about this thing that allows me to get these things, these products and items cheaper. And what that thing is, is your data, right, you’re giving away your data, which is the products you buy, how often you buy them, you know, the various brands that you get the frequency in which you go to that store, or so forth, all this data, which can be just allow me to basically figure out the type of person you are and your habits and all this other stuff. You’re giving away all that data for a small discount on whatever items you’re getting. And to me, that’s crazy, there’s an instance where target is I think it’s like 70 Some percent accurate determining whether an actual person is pregnant or not based off of their shopping habits, and they’re able to determine that prior to that person knowing that they’re pregnant. And that’s an actual thing that happened. It’s, it’s crazy. And it’s also

George Papp 41:57
improving as well, like, all Yeah, yeah.

Draeth 42:02
So looking at various points in your life, where you’re doing something that could compromise your privacy, or basically, you just giving it away for nothing, basically, find those points and just try to close those gaps. You know, make sure you always use a VPN, things like that. I mean, there’s, there’s levels of privacy to where, after a certain point, it starts affecting your daily life, where you don’t go out, do certain things, you have to build certain things to be able to surf the net, or whatever it may be, it makes it harder and harder to actually live your daily life. So the key takeaway from that, for me would be find that balance in which you’re comfortable securing your privacy, securing your data in general, while being able to maintain the lifestyle that you want. Right, just I mean, you should always have privacy. Regardless, you should always try to be private, always try to do things to where you’re not giving away your data. Now in terms of crypto, the advice I can give for that is never I don’t care what project it is, could be pirate chain could be anything else don’t. And I mean, don’t put in more money than you’re willing to lose. You know, I’ve seen people with that whole lunar crash, lose their houses lose basically their livelihood, because they threw their mortgage payments, that they throw all this stuff at it expecting that oh, yeah, I’m gonna get rich, or, you know, I’ll have enough money to do XYZ and then when the whole thing, you know, crashed on them, or the market crashed in general, they’re just, they’re screwed, and they lose their houses and everything else. So never put in more than you’re willing to lose. And if you’re going to invest in privacy coins, it’s always good to have multiple, multiple types of privacy coins, like for example, Piratechain and Monero. FIRO, Conceal all those other ones, you know, have a basket, you know, because the thing is that we’re in this together. And that’s why I also formed the BTSA, which is the blockchain privacy, security and adoption Alliance. It’s a bunch of projects that our privacy and security focus to where, you know, we’ve made one of our primary goals is to ensure that a person’s privacy and security is intact. So we’re we all we’re all working together on ensuring user privacy. So in a while, obviously, I would recommend Piratechain because I’m the captain over there. At the same time being realistic. You know, there’s you should always have multiple options. Because if one fails like For example, if you’re heavily invested in Monero, and say Monero gets de-anonymized, you’re screwed. You know. So always have multiple options, multiple currencies, things like that.

George Papp 45:14
Yeah, spread the risk. And also, I guess, going back on your old point, your previous point of privacy is so easy. I mean, the easy things in life, like in regards to tech are always the ones that, you know, your hand and your date are away. But you know, using Google, you know, potentially even using Windows, and if you can go down there sort of using Windows and Apple products, but it’s always the easy option, which sort of is the habit that gives your data away. So obviously, it’s not something that happens overnight, like you said, it’s like one or two things, here and there, you know, you fill that gap. And you gain a bit of privacy on there by using, you know, a different browser or a different type of, you know, hardware, laptop or whatever. These things come into your life slowly. And, you know, you can then transform it going forward in a more long term view instead of like trying to do everything at once and get overwhelmed by the amount of knowledge and technology behind it that you just haven’t even looked into. But yeah, that’s That’s great advice. definitely agree. And I guess I know you have to shoot. So thank you very much for joining me, and definitely want to have you on in the future to discuss, you know, that hardware wallet that’s coming out from you guys. So yeah, thank you very much for for joining. And, I guess make sure you subscribe to the podcast on iTunes or Spotify. Plus, if you’re interested in having one to one consulting to prepare your wealth for the great reset, check out the episode show notes for a link to crypto animus consulting.com. Also, we’ll put all the links to pirate chains material in the show notes. So definitely check that out, especially on moderate because you know if you can accept pirate chain for your services is definitely a massive step forward for adoption. And we can build a community around using this privacy tool that we have. Thanks, Captain, and hopefully it will speak soon.

Draeth 47:21
Absolutely. Thanks for having me on.

George Papp 47:22
Last one peace and love tool. Thanks for listening

Episode 6 – Max Wright: Crypto, Precious Metals & Preserving Your Wealth

George Papp from The Conscious Renegade joins Max Wright aka Contrarian Dude, a former engineer now self taught economist, educator and crypto evangelist who authored one of the first books on Bitcoin in 2013. In this episode, Max generously shares his economic insights on Bitcoin, privacy cryptocurrencies, precious metals and CBDCs with us. He eloquently breaks down how gold and silver prices are manipulated in the paper trading market, making the case for digital gold as a store of value and nimble means of preserving your wealth. Max also shares his #1 secret skill that has made him a rich man in bear markets. Finally, he leaves us with the most valuable piece of advice – his mindset for dealing with the fear of an upcoming apocalypse.

Privacy and Investing Strategies to exit the Great Reset

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Max Wright – Turn $10,000 into a $100,000 passive income by investing intelligently

Interview with Max Wright: Crypto, Precious Metals & Preserving Your Wealth

George Papp 0:08
Hi, welcome to the conscious renegade podcast with me George Papp, helping you to be the change you wish to see in the world.

Today, we are joined by Max Wright aka Contrarian Dude of Success Council. And we’ll be discussing alternative economics and crypto to be free in the current system and the coming Great reset, I guess updates from our sides. Were looking at the membership being completed here on Cryptonomous Consulting. So that’s what we’re working on. And we will continue to do so. And when that’s live, we’ll we’ll let you guys know. So how are you, Max, and thanks for coming on.

Max Wright 1:05
I’m doing really, really well. Thank you so much for having me.

George Papp 1:08
Thank you so much for joining. Obviously, your works quite in this space. I mean, it’s quite well known in a sense. I’ve known your work for the last couple of years, with the Success Council, and also your work on YouTube, where you you give your sort of trading analysis and your views on on the crypto market currently, which is great. So I know that your stuff is, is really good work.

Max Wright 1:35
Thank you appreciate the compliment.

George Papp 1:37
Excellent. So I guess let’s start with, I guess your story and how you got into crypto. And also, I guess alternative economics because I know it’s not just really crypto you only focus on although a lot of what you’re focusing on it within but just how you got into maybe alternative economics and crypto yourself.

Max Wright 2:02
Okay, well, that one goes back a long way. So I don’t know why it’s a weird quirk of personality. But for whatever reason, I was very interested in economics might one of my favorite classes in high school was economics. And I remember asking my teachers, especially the subject of money, just because what I was interested in, and I remember asking my high school teachers, the simple question, if everyone emptied their pockets and all the bank accounts, and you counted up all the money, I didn’t know to use the word money supply at the time, I could have asked the question that much quicker. But the pockets or the bank entry chemical the money in 1900, and the accounts up all the money now is way more money now. How does money get into the system? What makes the money supply bigger without using the word money supply? And the high school economics teacher didn’t have an answer. And this guy kind of put that to bed and just kind of this is pre internet. So what are you going to do? I went I went to college, I studied engineering, but was still interested in this question. So wondering myself over the economics department, and found a couple of people is whether they were particularly high up or low down in the in the spectrum of teachers? I don’t know. But I asked them the exact same question didn’t get a good answer. And this question was just in the back of my mind, and didn’t get a good answer. And then the internet came along. And I remember I don’t even know how or why, where I was looking. But I just found a lecture by a gentleman called G. Edward Griffin. And he authored a book called The Creature from Jekyll Island. And it’s the entire book about the creation of the Federal Reserve the history of the Federal Reserve, and exactly answers the question, how does money enter the system. And so this weird curiosity that I had a teenager starts to get answered, but from there, I get introduced to the concept of money supply, G. Edward Griffin, he would be what’s called a libertarian. And so he was down. Again, none of these words mean anything to me at the time. But he’s an what would be called an Austrian economist, more so than a Keynesian economist, which is what we’re mostly familiar with. And so this is just my introduction, I didn’t go to formal schooling. So I didn’t get Keynesian ism, ran down my throat, I got a little bit in high school, and that was it. But there and now I’m in this world where I’m starting to hear these people and suddenly get information from Austrians first up and on anybody, and then I’m hearing this information and makes an enormous amount of sense to me. And then I’m hearing the stuff on the news. And it all makes no sense to me. It’s completely confusing. All the recommendations they’re giving me makes no sense and seems counterintuitive. Whereas when I learned Austrian economics, I’m just like, that makes perfect sense. And so that’s how I got into the world of economics. And then little bit of self study, YouTube comes along and all of a sudden, there’s there’s so much information out there. I just get to consume so much of this information. I started to become self taught economist starting to hear people saying, Yeah, Robert Kiyosaki, Peter Schiff. It’s like, we’re in a huge, they’re on the precipice of a huge thing. And then the 2008 crisis hits, and I was like, oh, it’s interesting. The Austrians the people I’m thinking about, they’re the ones who are saying that there’s a problem. You’ve got, you know, the head of the Federal Reserve Ben Bernanke. Keynesian He’s in the middle of the recession. He’s saying no problems are always good here. You know, 12 months later, they admit the recession started three months before, but he said that there was a problem. He said, No smooth sailing. So this is all confirmation for me that Austrian ism is where it’s at. And, again, I’ve got a fair amount of knowledge. Now that’s like, really a decade later, and time has gone on. And I realized, so I can’t Is this the biggest thing hurting society? In the world, like everything, it plagues everything, it causes the wealth gap, it causes the income inequality gap, it causes the growth of government, it causes tyranny. I mean, it’s it’s just permeates everything. The cancer that is on this world is a corrupt money system. That’s the conclusion I get to. And so now I’m like, Okay, well as a, how do I get myself out of the system? I, and how do I get the well, what do I advocate for? Who do I vote for? What steps do I take to try and make a better world, so I can help the world in whatever way I can. And the solution to that corrupt money system at the time is gold, onto the best system and something I learned very, very quickly. I’m not the first person to think of this. Plenty of people have tried to figure this out. And they get punished viciously for it. To give us a couple of highlighted examples, there are plenty of people who are like, who was like, Okay, we need the customer, the population need to escape the fiat system, the US dollar system, they need that we’re never going to do it through Congress, those guys are bought and paid for there’s trillions of dollars on the table. We’re not getting get Congress to help us. So we’re going to work. But how can we just from a bottoms up approach, grassroots? How can we do it, and people come up with things like Liberty dollar, and there’s another website called gold money, they tried to do it. And what they do is they say, Hey, guys, you know, buy gold, send it into our store in the bolt, and you’ll have an account with us. And you know, you’ll have 700 grams of gold and Bob will have 400 grams of gold. And if you are Bob 50 bucks, we can transfer that amount of gold to him. And it’s all done with like an app or an account online or whatever else, we can start to create an alternative money system. And so what I like I said, it’s been tried a number of times before I gave you a couple of examples, a little bit of research tells us what happens is under the guise of it’s being used by criminals, it’s being used to launder money, it’s being used by terrorists, we have to shut it down for your protection, they send in men with guns, police, army, SWAT squad, you name it, they’ll do it, they confiscate all of the gold. So all of the investors lost their money. And the guy who started the idea of trying to make the world a better place, he goes to jail. So and this has happens over and over and over again. And so very clearly I understand this is not going to work they they have their monopoly in this corrupt money system. All the politicians are bought and paid for they own the media, they own all of the apparatuses the, what G Edward Griffin would call a power center in society. So it’s everything from a news organization to Hollywood to you know, to protect their ability to print money out of thin air and have that ability they have bought up the FBI and the CIA and they bought up everything in order to protect it anything that could go after them is not there anymore to go after them it’s it’s in their pocket and so I got through a little bit of a depression at this point this is like a really like the world is corrupt and vicious and I say clearly for what it is and there’s just no way out. And so I can personally buy gold and buy silver and do some things so that my money is not getting depreciated and gold runs up a lot in those years and I’m working kind of well for me. But then I just happened to be hanging out in those libertarian circles hanging out in those Austrian economic circles. Someone brings to me the concept of this digital money Bitcoin and I sadly ego driven I’m like really digital money all I know digital is if it can be copied a million times. So you have an mp3 song and all of a sudden it’s copied a million times. So clearly this isn’t gonna work. But big brain Max I’m feeling all egotistical over here. Tell me about your silly magic internet money Bitcoin so that I can tell you what doesn’t work. And basically over the course of about a month every single question I raise the put the my mentor in the little Bitcoin and got gentleman by the name of trace Mayer, he has an answer for me. And I just go deeper and deeper into this. And it turns out this character of Satoshi Nakamoto has just found something absolutely incredible. He’s managed to create gold, but in a defensible way, when the government says okay, this this is run by criminals and by the way, it’s it’s Bitcoin was originally used by criminals like a big part of the user base. Early on Silk Road, you probably heard about it two dozen 1112 13 It was predominately criminals. So this gives a lot of cover for the government to say this Bitcoin thing is run by criminals. We’ve got to go after them. Now they’re going after them because their competition to their money, but it is standard practice on standard practice was a great choice of words. It is very typical, that it will be criminals because these are the people who are already outside of the system. So if you’re a drug dealer or whatever it is, you you You can’t enforce contracts, you can’t have another contract with another drug dealer. And you can’t go to the courts and say, hey, I want to sue this guy, he breached his contract. They have strict, you know, that’s the reason they have to have gangs to exist to basically enforce their own rules and protocols, and all that kind of stuff. Because they can’t exist inside the system. So they’re the first group of people to get something outside of the system and take on all of those risks. And they did that. And they grew Bitcoin to a sufficient space where it was, they proved that it was defensible, no matter how much they wanted to come and get people, they couldn’t get up, they couldn’t go and round up every drug dealer, they managed to get a big name in, the
gentleman who had created Silk Road, managed to grab him eventually, many years later, but it looked like he was going to be for years, it looked like he was going to be available, like free. Let’s say that that kind of process got us over the big hump. And it proved this defensible. So unlike the gold situation that I talked about before, the men with guns can’t come and steal the gold and put the good guys in jail can’t happen. And that was just a critically important hurdle and part of bitcoins journey. And so I’m sitting there watching it, I’m already a believer that at this stage I am I’m acquiring Bitcoin, and starting to use it and starting to get my head around it. And I had all my questions answered. And that’s where I pretty much become a disciple, it’s proved itself as a chance. And that’s really, I don’t need to be proven to beyond a reasonable doubt that bitcoins going to become the reserve currency of the world at this point. Remember, I’m in a depression for all intents and purposes, I’m a pretty happy person. So my depression wasn’t that deep. So what I mean to make light of a serious word, because I know a lot of people suffer from depression but But you remember, the feeling is quite hopeless. The they’ve got controlled by the media, the politicians, there is no solution to this corruption, we’ve got gold, okay, great. It’s it hasn’t worked. We’ve tried it. The other thing times, it does not work, men with guns will come and steal all the gold. How can we have something that is defensible and exists in the cloud, that all of a sudden, all the men with guns count for zero, and one person at a time from the bottom up, we can just opt out of the system and get out of that corruption. And by the end of this process, and all this learning, I am now a just a rabid disciple of Bitcoin, and start using my my, my hobby was kind of like economics, my skill is as a teacher. And so people kind of gravitated towards me to explain Bitcoin and all of the things that I had to trace explained to me, I found that I could kind of explain them even better than he could explain them. And so I just became a little bit of a thought leader in the space and 2012, none of my back then when my youtube channel blew up as crypto content, and I had the number one best selling book on Amazon, back then in 2013 for for Bitcoin. Now, of course, that means like a couple of 100 copies are sold, because the space was so small, but even today, you know, 10 years later, I hear a lot of people using the arguments that I crafted and wordsmith to help explain people quickly and easily what kind of Bitcoin is. And so that’s kind of the journey. And then the last kind of 10 years, I just, I hope that where I can create educational content where I can on YouTube, people can check that out on notice Contrarian Dude on on YouTube. And so yeah, that’s that’s kind of the journey to date.

George Papp 13:06
Great, excellent. Definitely check his YouTube channel. The contrarian dude, it’s, it’s got some great content, you know, all the way from the from the early days. But yeah, I think I mean, in your opinion, I mean, I know that there’s, there’s a lot of hype now and a lot of fear in the market, in the crypto market. There’s a lot of guys now who are coming out of the woodwork saying, you know, oh, is this thing going? You know, going down? Like, is it you know, basically, is the sort of hype over? And what, what would you say to that, in your, in your own opinion, where the market is right now, where it’s going? And how you see regulation coming in being a hindrance or potentially, you know, holding back some of the, the sort of the developments in crypto going forward?

Max Wright 14:02
Sure. So, so the first part of that question first, personally, no, no harm, no foul in asking those kinds of questions. Is Bitcoin gonna zero? Has it had a stay in the sun? Could it crash? All those questions are valid? I’m a skeptical mind myself. And I appreciate when skeptical minds come in and ask challenging questions. And so these are all great questions that need to be answered. It’s something that you have to answer for yourself. But I can share some of the thoughts that I had around that subject. So I’ve been around since 2012. I miss the first bubble and pop in 2011. I lived through 2013 bubble, two bubbles and pops, I lived through 2017 bubble and living through this bubble on pop 2122. And so I’ve been through a bunch of this, and I can tell you that time in the trenches counts. So back then it was way scarier. And now we’re going through it for a fourth time I’d have absolutely no fear whatsoever, and I sleep soundly having a second Giving and part of my personal wealth in Bitcoin. But I think it’s overcome so many of the big, big challenges. And I guess for people who weren’t around that, like it’s understandable like we’re not going into depth 12 The next thing I saw was like a big disastrous event. And I’m like, oh my god, the world’s falling, this thing could be over. And then someone who was around in 2011 is nothing you should have seen what happened then. And it was was way younger, it was way more fragile. It was way less proven back then. And, you know, we huddling we say, holding on for dear life is the deliberate mispronunciation of holding your Bitcoin. We, it’s not for the faint of heart, and there’s some scary times and I would live through several 80 plus percent draw downs. But with each one, it strengthens your resolve. And you understand that, that, you know, this is this is growing it I, at the end of the day, it’s growing, I don’t think anybody has held Bitcoin for 40 years and lost money, you can hold it and it goes, price goes down and you in the six month 12 months. Occasionally, it happens in the 24 months, it only happened a few times. And I think once that happened, and after 36 months, where you could have bought the exact wrong time. And if you sold 36 months later, you lost but but I think it’s never happened the price has always recovered after four years. And but there’s let me let me steal man the original argument here. Which was what if bitcoin goes to zero? Bitcoin was kind of invented 2009 We don’t really, really see it begin to take shape until kind of 2010 2011 Remember this the last financial crisis 2008 It wasn’t around them. And Bitcoin just hasn’t seen a a long drawn out 2008 global financial crisis situation, when it does is it is it going to have what it takes to get through it. It did get through much 2020 COVID locked down where everything kind of went down, went back up and kind of go through it. But what about a bigger, deeper, longer recession? So in that sense, Bitcoin is unproven. So I just wanted to kind of get that point out there to steal man the question. But having said all that, I know the space very well. I know the clientele very well, I know the different market actors, there are speculators here who don’t know anything about anything, just trying to make money. There are people who treat it like a talk a tech stock, they see the number of users grow on Facebook, and they see the number of users grow on the Bitcoin network. And they say, I’ll just treat it like a tech stock and ride waves, and they buy and sell it for that. But there’s a fairly large cohort of people like me, who really, really, really understand the problems in society, the problem with the existing financial system, the corruption at the central banks all around the world, the poverty and misery and suffering that it causes for the average citizen. And for that, that same American spirit, for lack of a better word, but to be more general to allow the world to participate, that freedom loving spirit that are in the hearts of so many people, it’s the only place to be sovereign, it’s the only place to take the world, in your own hands, it’s the only place to, to have that, that feeling of independence. And so I know there’s a very, very large cohort, like me, who will, the only reason we don’t spend put every penny into Bitcoin, is because we think the other people who might might get scared over the next few months or years, so we can buy a lot more at a cheaper price. And there’s a fairly large cohort of people. And so there are that at some point, we were like, We it’s gone down enough, you know, we could wait a little bit longer than maybe get it at an even lower price. But we just have to start scooping it up now while the price is low. And like I said, it’s a fairly large cohort. And even on these drawdowns, where they go down 50% 60% 80% It’s just us waiting money sitting on the sidelines, I myself, just right now I’m sitting on the sidelines, I think we’re gonna go down a little bit lower. And I’m just waiting to jump in and scoop up at bargain prices. And that’s my mentality. And so I know there’s a fairly large cohort for that. So personally, I know that there will always be a price for Bitcoin. And as long as there is a price, as long as it doesn’t go to zero, some things that couldn’t, if there’s a big bug in the system, if there’s a they do some kind of update, which bitcoin is notoriously very, very slow at making updates, because they test everything for years before they put it out. Other chains who are trying to catch up to Bitcoin, like the theory of the world, no harm no foul on them. I’m not a not a Maxi, built Bitcoin next up by a long stretch, but in order to try and catch up in order to keep ahead of the competition, they’re doing risky, relatively risky things, and they can do things like there’s tax and there’s people people lose money, that’s kind of things the credit says the opposite mentality, it is it is in the lead by so far, and it can be cautious and and it can be deliberate. And the nature in which it was set up is it is very, very slow. So the and the of the likelihood of something like that happening some cataclysmic event like that happening, which would break Bitcoin and send it to zero, I would argue is very, very small and of all the cryptos by orders of magnitude smaller in the world of Bitcoin. And so for me, it’s a very, very small, small risk that that risk of Bitcoin going to zero. And as long as it doesn’t go to zero, then it’s just proved itself over this decade plus timeframe, that it just gets bigger and stronger. And you can all we can look at the numbers day by day, week, by week, month by month, and see that it is attracting more and more people. And that’s because every person that gets into it, one of the best things about Bitcoin is this cool technology. It’s can be explained 50 different ways as a savings vehicle as a payment rail system as a whole bunch of other things, right. And there’s 50 different ways to reach out to the community and say, Hey, come check out this cool new product. But for me, one of the my favorite things about this is no matter why you come, you can become because you think it’s a tech stock, and you see the user base growing, so you want to buy it, you can come because you’re cool. You’re a geek, and you want to geek out at other cool technology that is blockchain, you can come because you’re a drug dealer and you want to sell drugs online at Silk Road, you can come because you’re a monetary theorists like me, doesn’t matter how you get here. Once you’re in here, the community will educate you and teach you why this is so much more than any of those things. This is the solution for humanity to solve our biggest problems in the world. And so that just creates evangelist after evangelists after evangelist and that kind of game theory mentality that’s built into the system, because it is such an incredibly good solution to such a gigantically big problem that affects every, every single person. It just grows and grows and grows. And the number of diehards out there, like myself just gets it just goes up and up over time

George Papp 21:33
really does. It’s like a It’s an amazing effect that’s happened. Soon as you get into crypto, you kind of find out what’s wrong with the current system, and why it was made, in a sense, and what it can bring to the table. So yeah, that happened to me, myself, as well working in investment banking. So it was like, I didn’t even know what it was even when, even in 2017 when we saw Bitcoin go up to 20,000 for the first time, I was just questioning what it was still, you know, just like what is this scan or whatever it is. And then, you know, after a couple of years, you realize I sort of looked into it, and I was questioning more and more how the system was. And yeah, you look and you get deeper and deeper into it. And then you start literally becoming like you said, like an evangelist where you’re, you’re looking to spread and preach to others. Why it’s it’s the solution. And it’s definitely a at least a solution to what’s currently happening out there. And especially now when we’re looking at the most volatile in my opinion time in economics in the mainstream mode. We’re looking at you know, hyperinflation events potentially happening closer to home we’re looking at what was pretty much nearly already there you know, other other issues as well so yeah, we have solutions here we just need to use them and I guess spread the word as well. So I know there’s a lot of guys in the freedom space in crypto who are into privacy coins we’ve spoken to many guys on on the privacy coin space we’ve we’ve you know we know the people at Mineiro and pirate chain I wanted to obviously know what your opinion on these coins are because you’re you cover them a little bit less obviously then then some others in the in the freedoms movement, let’s say who may be prior towards those coins. What are your opinion? What is your opinion on those coins? Compared to Bitcoin?

Max Wright 23:37
Yeah, so I think they’re really interesting. I think there’s a case for both I think that I’m definitely an anti privacy coin for a whole bunch of reasons. But I think maybe it’s just it’ll cut their time will come a little bit later. I think Bitcoin needs to do bit more of its job and a bit more of its heavy lifting first. But then once once we as we get closer and closer to a Bitcoin standard, then the jump from if bitcoin is a serious problem if the government start using Blockchain and the Bitcoin chain to start finding people harassing people whatever the jump from you know, all of the old systems to Bitcoin was so much of a bigger jump than from Bitcoin to another privacy coin or to a privacy coin the speed with which the community they come after Bitcoin and try and shut it down in any way or and start harassing individuals on I can see that you spent $3 on Silk Road or your You You You You pressed you’re a trucker protester for like in Canada didn’t so we’re gonna go and get your your Bitcoin. Now if you hold it in exchanges or whatever, it’s kind of like that’s, that’s tough on you. But if you’re holding your own private keys, and they’re doing forensics research, and then sticking the FBI on to you and like destroying your life because of some stuff, you will need, like half a dozen of those stories. And then all of a sudden, they’ll just be this one or two things. will happen, the Bitcoin community will change his protocol to introduce more privacy, or people will jump ship and move to a privacy coin. I’m not sure which one of those two is, the more likely I suspect the former is more likely, I suspect the Bitcoin code will change, if this becomes that big of a problem, and that will be something interesting to watch play out over time. But before we get there, I just don’t think we’re there quite now. And that we can get there at any time. But, you know, I think it could be that we’re a decade away from that. And during this time, bitcoins gonna explode and other things are not. Because right now, I don’t think there’s a great thirst for privacy in the Bitcoin world. And if once that thirst comes, it’ll interesting to see how we react to either Bitcoin will adapt or will move to privacy coins. But to give you an example of the kinds of people who don’t care about the, the privacy aspect right now, the biggest holder, for example, Milo, Michael, Saylor, and MicroStrategy. He actually wants to everyone to know how Bitcoin he has he tweets about it every other minute, so that you can you can see the reserves, and he wants proof of ownership, he wants you to look at his wallet, stare at his wallet, and know that he has all this Bitcoin that strengthens his balance sheet and things like that, to have proof of funds. So that’s an example of someone where they specifically do not want privacy, they would see privacy coming to the Bitcoin chain as a disadvantage. So it’s only once I think Bitcoin grows to be a bigger and bigger animal than it is, then maybe they start to come after it in different ways. But it would be a foolhardy endeavor, if they tried it, so they may not. But if they did try it, it’s a very small leap, much, much smaller leap than going from Fiat and teaching people that magic internet money is the way you’re gonna be. That’s a huge leap to get to Bitcoin. Once you’re in Bitcoin, Zagat has a problem with the system in some way, shape or form, you may get better security better thing if you either vote for this change in the Bitcoin protocol, or move to this privacy coin is a very, very small leap. And people will do that very, very quickly. And so harassing bitcoin is going to do very, very little. And so that’s kind of my thoughts on on privacy coins, I think a good concept. And I love to see the, the, they’re called alt coins, so or Manero, and pirate coin, all these kind of things, I love to spend, see him out there experimenting, testing things, doing things, trying to break things. And that way, if bitcoin ever wants to adopt some of those things to get more privacy, they have that option up their sleeve? Or maybe the Bitcoin community is too slow to adapt. And then you’ll have Mineiro, or private or any one of these privacy coins overtake Bitcoin? That’s absolutely a possibility. I don’t think it’s true, but it’s a possibility. Another point that should be added in terms of investment and things like that. In order for privacy coins to be a better investment than Bitcoin, it does not necessitate the privacy coins, bro to have your market cap than Bitcoin. If you’re starting at a much lower base, you know, your percentage increase doesn’t is what makes you the money. It’s not whether it’s a bigger chain than Bitcoin or not. So, you know, I’m not saying that it could be that privacy coins could cannot overtake Bitcoin, and don’t even come close to it, and still be a better investment in Bitcoin. So that’s something worthy of noting. So there’s a few different ways to look about I’m not sure if you want to get the philosophical approach to principled approach or the investment approach. But there’s a few different ways to look at it. And those are my thoughts on that.

George Papp 28:21
Yeah. That’s an interesting way of looking at it. I think. It’s true, actually, that it seems like I don’t see, by the looks of things right now. governments aren’t too, let’s say up to speed with how even crypto works properly. At this moment in time, however, the I know, Blockchain analysis and all this stuff is definitely getting larger and larger and more sophisticated. So I think that’s where maybe at some point, yes, you know, they could start harassing people for, you know, their transactions, because it is transparent. But there’s definitely a use case for transparent blockchains in my opinion, for sure. A lot of I don’t advocate just for private just using private blockchains is certainly use cases for transparent blockchains especially in like, you know, whether you believe in in a government government system in itself, but if we had a transparent blockchain, which is viewable by all public individuals on potential tax expenditure, for example, are where our money actually even goes, whether you believe in tax or not, let’s say, at least we would know exactly where everything’s going rather than right now. We don’t really know where any of our money’s really going to. In regards to tax expenditure, let’s be honest. So there are certainly and that’s only one use case. Really, there’s so many. But yeah, I agree. I think they could definitely coexist. I think there’s use cases on an investment side as well, for sure. Bitcoin is a stable, you know, the sort of granddaddy of crypto And you know, institutions are definitely buying it up first. So I think, you know, having wealth in there is certainly, you know, people a lot of people say it’s too expensive now and you know, it’s too late, but we’re looking to preserve our wealth as well. In a world where you know, inflation is eating up all your all your tradition, traditional fiat money. Certainly having it in Bitcoin is certainly much better than that as an option. So I mean, yeah, thanks for that. And I guess what is your, your thoughts on the future of mainstream economics? Because I know, there’s going to be massive changes, we’re looking at potential CBDCs, which was a conspiracy theory a few years ago. Now, it’s openly being talked about, in regards to potential digital dollar digital euros, or these types of currencies? How do you see this playing out? In your opinion, where, you know, we could potentially have CBD C’s and crypto almost at the same time? Or do you see like, government trying to outlaw crypto or just over regulate it to bring in CBDCs? How do you see it all working out? In that sense?

Max Wright 31:13
Yeah, and I’m sorry, you had you asked about regulation earlier, the part to your question, I forgot to go back to it. So I can do that now. So yeah, similarly, seeds are coming for sure. You say see, I used to be a conspiracy theory. Are there any conspiracy theories left? I mean, I used to believe in all of them. Now. They’re all I’m trying. I’m trying to come up with one. There’s like they’ve all been proven true at this point. Yeah. So okay, so yeah, CBDCs are coming for sure. And that’s, I mean, it’s just common sense. It’s just a, I’m not a fan of central bank currencies. But if you’re gonna have one, it’s more efficient and better to have these digital ones and running around and like armored trucks and running the ATMs and all this kind of nonsense. So of course, that’s coming. That’s just common sense. So we’re gonna have them? Are they gonna have nefarious things built in extra tracking? All those kind of things? I mean absolutely why not? They’re gonna build it. So why would they build it to have their dream spy state, I’m sure they are going to have all of those things. I do think they’ll, what’s the word, they will be side by side for some time, until eventually, I think Bitcoin kills them, or just no one wants the fiat currency. But yeah, that I mean, those things, those things will be there, and they will be around for a long time, and they’ll live side by side. And personally, I think it’s a good thing. Like, I think it speeds up the adoption of Bitcoin. As people get used to their the, the, the, the digital money, once they’re used to digital money, once again, it’s now a very small leap to move over to Bitcoin, because they’re used to the concept, they’re used to an online wallet. They’re just they’re used to it. And so that’s a very important thing. I know. People say so you know, like foreign currencies now, have these elaborate counterfeiting measures, the notes are different sizes, different colors, it also helps for the, for blind people, they can feel what note it is, depending on the size of it, and the texture and all these different things built into for the dead stitches, you’ll notice that the US dollar is in the greenback so stayed the same largely over the decades, but I had any of these cool features. And we’ve run out of the reason why. And it’s because it is basically because it would there’s a chance that it could hurt the people’s faith in dollars. So is it straight up marketing principle. So in order to keep people’s faith in the US dollar, as they keep these, these notes in one of the very old technology, they don’t put any of the new technology into the US paper currency anymore. And so there’s a little bit of a catch 22 For them, like they’re gonna have to move to this digital currency is that going to boost or lower, you know, the normies faith in the US dollar, argue it’s going to lower their faith in the US dollar, that’s, that’s what I would suggest, then all of a sudden, that that has a cost to them as well, that drives even more people to Bitcoin. So a lot of these things about the CBDCs, I think are going to be very, very good for Bitcoin, are gonna exist in tandem for quite a while, I would suggest, and that’s okay. Like I’m perfectly okay with that. So bring it on help help speed on the adoption of Bitcoin by bringing on CBDCs. We’ve talked about regulation a little bit, I can jump track to go over there. I think a few questions ago, you asked the question, I forgot to answer it, which was one of the big things that that kind of need to happen and what’s going on in that world of regulation. So I think one of the biggest things, holding back the big institutional money coming into that is a rule, a silly guideline by the IRS, which is how you have to define this and how you have to market on your balance sheet. And basically, you can buy, let’s say, a billion dollars with a Bitcoin and then by the laws released to Fortune 500 companies and all the laws, the SEC is and somewhere in that rigmarole of

law, like that, the word escapes me somewhere in that rigmarole of all that law. The way the CFOs have to mark that on their sheet, is they have to market that the value of their coins or their Bitcoin at the market as The lowest value ever was. So if you go and buy a billion dollars with a Bitcoin, and the price goes down as a gift, you want to go through a 50% drawdown. So now he’s sitting on half a billion dollars with a Bitcoin, and then the price skyrockets, right 20x. And so now you’re sitting on $10 billion of Bitcoin, when you report that to your shareholders and things on your balance sheet, you have to report it at the lowest price it was in its entire life while you held it, which is you got $10 billion worth of bitcoin, but you have to report to your shareholders that you have half a billion dollars worth of bitcoin. And so this is really, really hurting people, you’ve got companies when they held their cash that is reported as its actual value. And so you’ve got apples and you think on $200 billion cash plus, they’re watching it melt like an ice cube through inflation. But at least they have a pristine balance sheet. So when they go to borrow money, they get it at the rates at really good rates, because their their balance sheet is pristine, if they look to convert that to Bitcoin. Now, all of a sudden, the way they have to report that is on their balance sheet, the lowest price that ever was at anytime during the time they held it. And it really hurts their balance sheet, it changes how much they can borrow money from in the future and things like that. So that is a really, really big fool in the system there. That just means people cannot hold the Bitcoin in a good and easy way. And so the big institutional money, the corporations, that’s really holding them back. So that’s why I would say number one thing to fix, if we’re going to put pressure on the government to try and fix things, that would be number one. Number two, is you really got to help the SEC approve an ETF spot ETF. So at the present, there’s a futures based ETF, which I was extremely skeptical of at the time, and still am. And I still think there’s a lot of question marks over it. So a little bit of history.

The for the gold and silver prices have been, in my opinion manipulated for a very long time on the futures market. So the futures market, the gold and silver is bought and sold in huge quantities way more than even exists every single day. And so there’s a lot of people wanting exposure to the gold price, you know, I think they’re printing too much money, I want to hedge against inflation, I’m gonna go and buy $500,000 worth of gold or silver, people don’t actually get to buy gold and silver because it’s expensive to transport too expensive to secure. You gotta hire security guards to stare at it, not to get it stolen, or pay some other company to do it. And so what they do is they trade on the futures market, they buy and sell gold there. Well, the problem is on the futures market, because you’re not taking possession of gold or silver. What they can do is if there’s a huge demand for gold, there can be some some banks or some cronies on the other side, saying I’ll sell you gold, and I’ll eat the price. If the price goes up, I’ll eat it, so you’ll get your profit, but you never had to actually take the gold. And so what they can do is they can sell an infinite amount of paper gold to stop the buying pressure of gold going up. Right lots of buyers come in the price should go up with a limited supply. The problem is they can sell paper gold, like there’s pallets and pallets and pallets of paper saying that you know where the other side of this bed and at the price of gold goes up? No worries, we will lose a bit of money we’ll pay it we’re making way more money over here with the fiat money system so we can afford these losses just to keep the system alive. And gold the gold price can’t go up the silver price can’t go up. And that gold is typically the canary in the coal mine that lets you know inflation is out of control. People do not trust the central banks and you need to get out of fiat money and into gold. And so a lot of people want to get into gold they get into gold but the price doesn’t go up because they just bought paper just paper was sold paper gold was sold. And that’s it. And so they can control the gold market and have done for many decades on the futures market. So what are the SEC do they have the world begging for a spot price Bitcoin ETF meaning the you buy the in that you buy money into the ETF? The ETF goes and buys the Bitcoin? And at the end of that if you want to redeem it, you can say send me the Bitcoin don’t just send me the cash payment send me the Bitcoin and it actually take supply out of the market. They said no, we’re not going to approve that kind of ETF we’re going to approve a futures based etf.dot.it needs its paper contracts going back and forth. Which same problem people institutions make the man inflation is a problem I want to scoop up Bitcoin, huge demand coming in, they want that the price should go up. But the the futures market is just selling paper on the other side and not giving them the real Bitcoin. Because the futures market is not redeemable in actual Bitcoin. You can’t say give me the Bitcoin at the end, you just say give me the dollars value of my profit at the end. And so I was extremely skeptical of it. I remain extremely skeptical of it. I don’t think they’re going to release a Bitcoin spot price ETF particularly soon, exactly. Because of this, we need to put a lot of pressure on them to do that. Fortunately, several other countries around the world have done that. And that’s a really good thing. Australia has it. I think Brazil has it. Canada has it. Some countries in Europe have it. So there are spot ETS there. And so that’s all kind of kind of really, really interesting and productive. And one more final thought on all this kind of topic is I will talk about game theory a little bit. We now have to Countries very, very small token countries. One, I never even heard of that it was the central Republic of Congo Central Africa, I forget. Thank you very much. You know, national GDP, I believe $2 billion. We’ve got El Salvador that was the other one was the first one, GDP $10 billion. The two, this is this is game theory, this is how it starts. And one by one, you’re just gonna see more and more sovereign states, more and more companies, more and more individuals come on. Because I mean, the reason they came on is because, again, theory, they saw people like me buying in 2012, and seeing the price go up 10,000%. And they went like, this is worth putting 1234 5% of my portfolio into that. Let’s give me some of that. And that’s how it grows. So I’m really excited by that game theory playing out that the longer you wait, the worse is going to be for you, the earlier you get in, the better it’s going to be for you. And it’s true for individuals, states, companies, etc. And right now, we’re just watching that game theory play out over many years.

George Papp 41:00
Yeah, it’s really interesting about, obviously, Central African Republic and, and El Salvador, obviously, I think we can see more and more nations will adopt Bitcoin. Let’s see how the world takes it. It obviously needs to have more, we need to inform more people and definitely spread the sort of education to more and more people to adopt it for themselves as well. And to really know the reason why, because there’s still a lot of people out there who are, who are buying, I don’t know, Shiba Inu to make some money, because they thought that, you know, it will do what Dogecoin did these sort of things, we need to sort of try and just educate a little bit, obviously, that there’s nothing wrong with someone trying to make some money, but knowing the reasons why it can really, really change the world. And that sort of message needs to be spread unless that’s what we’re doing here. Yeah, so I guess let’s move on slightly to, to your work. So the Success Council just wanted to, I guess, touch upon what what you’re doing there and what it aims to do. And and yeah, the work that you’re doing?

Max Wright 42:12
Yeah, so I’m in the Success Council was founded in 2012. And it’s basically designed to teach people how to protect and grow their wealth during very, very uncertain times. And basically, during the times of going out of control central bank, and all over the world, the central banks are out of control and printing. And so all this inflation that we’re seeing in America is quite bad. And the rest of the world, it’s even worse, for the most part. All this stuff was very, very predictable. And it’s not because of greedy corporations, group corporations didn’t get greedy in 20,020 22. They were always greedy. So it’s not that it’s just it’s very obvious what it is because it was easily predicted by the Austrian economists, which is it was the money printing, the government’s the central banks just printed money when that money enters into the into the economy, it causes inflation. And so what does that do, it causes this massive roller coaster ride at this huge spike up in prices and assets. And then there’s these big crashes, and then there’s back and forth. And so the success council was was built to basically teach people exactly what is happening, what is going to happen. And then to help them understand how the financial system works. So all of a sudden, they can see it’s like, oh, this is this is what’s going to happen, that asset class is going to go up, that asset class is going to fold down. And so it’s a really a way to just kind of protect your wealth as a bare minimum and grow your wealth. And what we’ve been able to be very good at at success counsel is jumping from asset class to asset class at the right time. And I just call this basically swimming with the current as an investor. So you know, you don’t want to if you’re a fantastic real estate broker or builder or whatever, you can make money in any market. But you didn’t need to be really on the top of your game to make money in a down market. And that’s true for stock trading. It’s true for everything, you can make money in any market everywhere. But I just figured out early, it was better to take a step back, not be the world’s greatest real estate guy, don’t be the world’s greatest crypto guy, not be the world’s greatest stock market guy. But take a step back, understand the macro economic situation, and understand which asset class was gonna go up in which class the class was gonna go down. And that way I could avoid those big pitfalls when the market crashes. And I don’t need to be a particularly great trade or anything, just by knowing which way the currents going, I can always know and swim with the current. That way, I don’t have to be the strongest swimmer to make a lot of money. And that’s just having one skill in macro economics has really helped me become very, very wealthy. And so I just wanted to share that knowledge and give people my framework. And so we teach people that with a newsletter and we teach people that with my YouTube channel, and so if people want to work from that, they’re more than welcome to follow me on YouTube and kind of go from there.

George Papp 44:36
Excellent. Yeah. So you will have all the links to the success Council in our show notes as well for everyone to to check out how you I guess personally preparing for I guess, the coming decades. Obviously, there’s a lot of volatility, the potential Great Reset of of what seems to be in the plans. So I guess Just what your personal preparations are, if any, currently in regards to that, I mean, are you preparing geographically, potentially just just you’re just moving your wealth out of the system? Just little sort of, I guess, strategies that you’re currently putting in place, if any, again, like I said, in regards to this.

Max Wright 45:22
Sure, you mentioned a couple of key ones there. But a big one, I absolutely believe that. No, there’s no price, where like, splits, sometimes I believe we’re in an absolute peak, at the top of the market, Bitcoin is going to crash and go down for a couple of years. If you don’t have any bitcoin, I still buy some bitcoin today, you’ll probably lose some money but buy it. And the reason is, things can turn on a dime. And there can be food shortages, there can be government crackdowns, they can be whatever. And even if your country is what seems like a really stable first world country, economic crisis can cause crazy things very quickly. And desperate governments do desperate things. You know, you see it in other places all the time. Like, if people like in Venezuela, people in Zimbabwe, people in Turkey, people in Ukraine, you know, when the Russians marched across the border, everyone left everything, all the money in the bank accounts gone, their home, gone, their car, their assets gone, if there had gold and silver, they could take what they could carry, and no more. That’s it, it’s gone. The one thing they could take was a thumb drive or a phrase in their head, and they could have had any amount of wealth Bitcoin with them. And it’s going to work anywhere in the world within like an hour, they can you try to use that Bitcoin to kick out back into cash and be buying food. So for absolutely everybody, it is an essential part of being a a nimble person, and going to deal with any crisis, you have to have some cryptocurrency that’s just an absolute must. On that front, next, what personal things, so actually, I’ll touch on travel first, just hat being someone who’s capable of change is a powerful thing. And I spent my 20s basically traveling all over the world, I have children now a little less mobile, haven’t traveled for a few years, but I have all those skills. And if I needed to pick my family up, take, you know, millions of dollars worth of my wealth, we could relocate in a day. And we would be very, very fine. So we’re very, very nimble. And there’s something that I worked on for decades with this in mind. And I’m very, very comfortable with my level of nimbleness in this way. And so I highly recommend people do that. Now, having said that, I also believe in the there has to be somewhere better to go to. And so I I’m nimble in case of that kind of emergency. But I also choose to position myself in a place where I think is great. I choose to position was and I have a lot of, it’s a good place to stay. For me, I have backup food at home, it’s like it’s been it’s been a grand or two. And have you know, there’s lots of companies out there who do long term food storage, just like freeze dried stuff, you buy it, it’s been a great honor to sit in a cupboard there for 20 years. And if there’s ever a food shortage, you know, you can eat for three months, six months, 12 months, however much it is You by knowing those situations that, you know, things can get hairy. And gangs can roam around looking for because they didn’t prepare. So they want to get out, look for the easy targets and steal things. So make sure that you know as long as within the law, you are armed. So have your guns, have your bullets, and all that kind of thing. So all these kinds of things just play into a preparedness mindset. And I’ve kind of done all of those things. Honestly, I did them all, like 15 years ago. And so I don’t think about them that much anymore. I just I know I’m in a very defendable position, I know that I can, I’m nimble if I need to leave, I’m strong if I need to stay. And I don’t really spend too much time thinking about it and spent a year or two kind of learning about things and implementing some of the strategies. And then I just put it away and have peace of mind on it. Think about it. So that’s kind of where I am with all of those things.

George Papp 48:35
Yeah, not being in fear of what’s what could happen is another one, just that self work still is one of those key things of not being a failure, prepare. Never be in the fear, the fear zone, because that can really paralyze you and probably make the wrong decisions. So yeah, no, thanks very

Max Wright 48:54
critically important. So and then a little bit to help with that. It’s just a thought that kind of helped me with that sunny kind of, kind of same concept. Humanity is gonna go on, right, no matter what, no matter how disaster it is, humanity is gonna go on. And, like, let’s like the worst, worst, worst, most doomsday crazy situation ever, is like half the population is perished somehow starve to death or whatever? Well, in order for you to be a survivor in that situation, and to come out and thrive, you need to be in the top 50% of human beings on the planet in terms of preparedness, resources, skills, mental health, physical health, etc. So most people in the first world can do that very, very quickly and easily. And so it’s a really, really soothing, calm thought. So once you get down this rabbit hole, and you start thinking about the threats, it’s very easy to get overwhelmed. Put yourself in a depression, put yourself in a tough place. And so just remind remember that you know, you live in the first world you’re doing just fine. And things are going to be okay, let’s just take the simple steps to make things a little better.

George Papp 49:55
That’s right. So yeah, that’s why we’re here is to make the world a better place. So, one of the podcasts was started I’m sure that’s why that’s why success council was started is to help people just you know, prepare for these types of moments and save their wealth basically. Excellent. Well, thanks. Thanks, Max for joining me today and I look forward to having you on in the future potentially. Some new projects, even on our side on your side to discuss make sure you subscribe to the podcast on iTunes or Spotify plus, obviously if you’re interested in checking out all of Max’s, Max’s stuff on success Council, we will have the links here in the show notes. So definitely check that out. So excellent peace and love to you. Thanks for listening.

Interview with David Morgan: Exiting The Banking System With Precious Metals

George Papp 0:08
Hey, welcome to the conscious renegade podcast with me, George Papp, helping you to be the change you wish to see in the world. Today we are joined by David Morgan, founder of The Morgan Report, author of the book, the silver manifesto and second chance, and is devoted more than 30 years to educating investors opportunities to protect and grow their wealth. He is a huge advocate for precious metals, especially silver. So we’ll be discussing financial solutions, and I guess the alternative economic system, and how you can protect your wealth from the collapsing system. How are you, David, and thanks for coming on?

David Morgan 0:49
George, thanks for asking. I’m doing well. Thanks.

George Papp 0:52
Excellent. I mean, I’ve you know, I’ve seen many of your interviews, I guess in the last couple years as well. I guess the first question I have is, how did you get into the the space initially, and I guess what’s your guess, story behind you getting into precious metals getting into the alternative sort of economic space?

David Morgan 1:16
Well, for whatever reason, I was pretty fascinated by money and investing even as a kid. And the young as a child, we lived out in the countries to water the my dad’s orchard, which was one acre of land and what people think is like 1000s of acres, farmers have been hand watered when you’re now 1011 years old, you know, 20 minutes at each tree, and there’s 20 Trees takes a while. Still boring. But regardless, I would pay 25 cents a week to do that. And I used to stacked all these 25 cent quarters. And then one day my dad paid me and it was a cupro nickel quarter. And of course, I noticed a change because everything else I had was 90% Silver. So it kind of struck a chord with me, but it didn’t make a big deal out of it. I didn’t say well, you know, a few years now be the silver goo or any of that stuff just struck me odd that it I totally knew it couldn’t be the same value. And I also wondered why why would you know, they’d be mentored this way. But I didn’t really get any answers. adults seem to just ignore it. Fast fascinated by money. So I started looking into it on my own reading about it. By the time I gotten in my late teens had pretty much done enough study to realize that the banking system is a fractional reserve banking system. I learned that all fiat currencies failed. I learned when I started reading, you know, newsletter authors and more books and all that stuff. So, okay, pretty well self studied on it. And one thing led to another had aircraft career Early on when I graduated from college and stayed there. But I’ve always been interested in finance and metals, went back to school, got a finance degree, started the Morgan Report, pretty much the beginning of the the internet, not the exact beginning. In fact, I was one of the I’ve always been kind of an early adopter, not on everything, but on on several things. One, of course, was connecting to the net in the old days. I mean, early on, there weren’t any browsers. There weren’t any chat rooms. It was just it called a bulletin boards. And I mean, you fired up a computer with a C prompt. And once you saw the C prompt, then you had to type in you know what you wanted to do the computer that didn’t last too long. The browser’s came up, Netscape came up, I built my own web page with Netscape and did it for research purposes. And one day, a guy called and said, What is this? What do you do? I said, I write a newsletter, which I really hadn’t. But that was my dream. They said, How much is it? I go up in a business for 12 seconds. But I tell this guy, I came up with a number he said, fine. So I’m on my way of starting the business. And I was levitating for about you know? 510 seconds Georgia mean, like, here’s my dream, I’m gonna live it. And then of course, you did the one had to clap where you take the, you know, your palm and you whack yourself in the middle of the forehead. Do Wait a sec, what did I just do? I told one guy, I’d write everything I know about the financial markets, particularly precious metals, emphasizing silver for one year for this amount of money. That doesn’t sound like like early retirement. But I pressed on, and it built from there and of course, it’s been established that for over two decades and have a very large following so basically, it’s following your passion. I mean, it’s really that simple. Sounds easy. Wasn’t. But I just persevered through the whole thing.

David Morgan 4:56
Yeah. I second the sort of Working on your passion, and it’s something that is kind of cliche, but it is truly the way to not only build wealth, but to know you’re making a difference. Otherwise, I don’t think it’s really worth it. Otherwise, I think that is the way to go. And I know it’s cliche, but you end up doing the work. It’s not like you’re working for someone else in, you know, you have to do a certain hours, you actually work harder, right?

David Morgan 5:30
Especially in the beginning, I mean, the amount of real articles I wrote for the public domain, I mean, I started it, you know, what we call web 1.0. And everything was, you know, just basically an electronic letter that you would publish and, and the web 1.0 website, I would literally get up very early in the morning, read all the news, financial news. And then I would pick and choose the best articles to post on our website. And I did that myself by hand for years. And a lot of times the way the website was set up by my webmaster, the whole articles title wouldn’t fit within the spaces allotted. And I didn’t want to have him rewrite the whole code. So I have to be very, very imaginative to come up with, you know, the essence of the of the article, and we look at it and stick it up there. But now a lot of lot of juice in the beginning, I still have some meaning. I’ve got enthusiasm for what I do still. But back in the beginning, I couldn’t put it in those kinds of hours again, now, not at my age, and probably not quite as driven. I’ve been somewhat oh, let’s say discouraged with seeing how long this Fiat Fiesta can continue. But I don’t think it’s got much longer to go.

David Morgan 6:55
Yeah, so that’s a perfect segue into what I’m gonna ask next. And yeah, it looks like I think it just looks like it’s on its last legs. There’s not many more tools that the Fed and other central banks can even use now, to keep it going. So I guess the next question would be, or, well, the next discussion is, how can you explain to I guess there’s some people out there who may not understand how fiat currencies such as the US dollar is not really our money. I guess just explain that we have to sort of delve into the problem before we look at the solutions. So yeah, just talk about that briefly on basically how fiat currencies are not really our money, even though we have so much trust in the banks.

David Morgan 7:45
Yeah, well, the Federal Reserve is a private corporation, and its own primarily by Europeans. And it’s outside of the government. In fact, it’s the only agency that can tell the government to do anything it wants to, and the government can’t do anything about it, because they’re not really connected. Now. That’s, that’s the truth. But it’s also quasi government connected, because everything revolves around the US dollar, but US Dollars printed by the Treasury. And whatever the cost of printing is, we’ll call it that. And I’ll make up a number five cents per per bill that is sold to the Federal Reserve at that cost five cents. And then the Federal Reserve actually loans it to the federal government. So the federal government technically prints the money. But I think it’s a better understanding that Federal Reserve issues it, it’s borrowed into existence by the United States government. So the United States government has this huge debt called deficit that they can never pay back. And that’s how all these Fiat systems basically and is the debt gets so onerous, so unbelievably large, that it’s mathematically impossible to pay it back. And we’ve been in that condition for a very long time. But at some point, the system breaks. And once it’s broken, it cannot be fixed. Usually, there’s a substitution. In other words, in most cases, you actually go back to a gold standard, which fixes the problem least temporarily until that gets corrupted, but so it’s a private corporation. And so you don’t really own the money in a bank. I did a whole very well watched video called some good about bail ins you might talk type in bail ins David Morgan and Daniela Comboni. I think it’s got like 1.6 million views. And in that discussion, I talked about the fact that any one that’s in the United States banking system, you are an unsecured creditor, the bank, the bank owns the money, not you. And that’s something that’s very important. wouldn’t if we got a Cyprus type of situation in the United States, which is on the law books, it could happen? Will it happen? We don’t know. But it could happen. So this begs people, once they understand that’s a truth, a fact or reality that they need, in my opinion, to hedge against that, that problem, which means you’ve got to have something outside the system. And that, of course, could be crypto, it could be gold and silver, which is my choices. It can be something that’s very marketable. I mean, it could be alcohol, cigarettes, coffee can be a lot of things. But the easiest most recognized most fungible is the precious metals.

David Morgan 10:44
Yeah, and I think once you realize that, Ban ins, and, you know, potential social credit system site like China could happen, or just even just you can’t withdraw from the bank, makes you realize that you really do need to have not only a Plan B, but you should really, mostly own things outside of the system. A it feeds into the system, which you don’t want to do anyway, because you are feeding the beast in a way. And b Yes, you want to have your financial sovereignty. And yeah, like you said, Baylands have happened before in a test case, in my opinion in Cyprus, where they sort of took money basically out of people’s accounts, over a certain value, yes. Which I suspect probably happen again. But still, that power does lie, as you’re not really owning that currency, they can easily do this. So even having that risk, is really a reason to not have all of your eggs in that basket for sure. And in my case, I mean, having pretty much all your most your eggs out of that basket, to be honest. I mean, in that case, what’s your I guess outlook on what’s to come? Based on what’s happened in the last few years? Do you see like a, you know, a social credit system come into place where based on medical status, for example? And yeah, I guess your overall outlook on what’s to come in the next few years?

David Morgan 12:19
Well, number one is the bank banking elites don’t want to lose control. I mean, the way that the whole system is controlled is through the monetary system. I’ve said this many times, but it probably bears repeating that, you know, we get these ideologies, we get the red blue dynamic, you know, and this is kind of a divide and conquer meme, you get communism, socialism, fascism, democracy, constitutional republic, monarchy doesn’t matter. All those things. Sure, it matters, it matters to me, I want to be in this system, you know, it’s all controlled by the money system, all of it. And so really, that’s where you got to go, if you want to look at the top of the pyramid, you got to look at who the money masters are. And if you look at who the money masters are, they don’t care. As purportedly, Rothfield said years ago, you know, give me the power to, you know, quite make the money and I care not who make the full laws, it doesn’t matter if it’s a communist, or dictatorship or fascist or whatever, as long as I’m in charge of the money. That’s what matters. So let’s get that clearly established. And then from there, where do we go? Well, we always said you don’t you can do it on a personal level. But where do they want to take us? Well, first, they want to keep power. And they know they can’t pay the debt. So they’re scheming on a reset. And then we hear this word all the time, and the reset will be a resolution of the debt problem. And how they’re going to resolve it exactly, I don’t know. But I have a strong feelings last study and intuition, that they will absolve their own debt, their own obligations, because they know governments can’t pay them back. But they already own everything. So if you’ve used the fiat money system to own all of the wealth, and I’m going to talk about paper money, they don’t care about that. They know how the games played, they created it. But if you’ve used that to own all of your industrial capacity, all of your transportation facilities, all the airlines, all the shipping ports, all of the major businesses and you owe that you really don’t care if the stock price of XYZ conglomerate is 10 bucks or 200 bucks you own it. You own that corporation. So that’s why in a deflationary scenario, they really don’t care because it’s the wealth is owned. What changes is the number of what its pieces of paper, it’s it’s worth, but since they create infinite paper for themselves, and it really doesn’t matter from their perspective, I hope people are following that. So they’ll also spill over into we’re doing it for your own good and And what that means is they will probably absolve some of the debt that the, that the citizenry has meaning, you know, particular pic, mortgage, student loan, credit card, whatever. And I’m not saying they’re going to take it all away, I don’t know, but I think there’ll be some kind of a gimme, you know that when you come into the new system, you know, you’ll automatically get X amount of central bank digital currency and your loans will be forgiven or they’ll be moved out and re configured, you’ll have a years reprieve or who knows, I don’t think they know at this point, but they’ll try to sweeten the deal to make it look like they’re really helping you out, all you have to do is you know, sign up for the new one, and everything’s going to be much better than it was the old one didn’t work. And it didn’t work because of and of course, the because of will be anything but their own selves that created the thing from the beginning, they’ll never blame the banking system as a structure down because that is the problem. So they will blame it on the war on a certain government or illness or combination thereof, or us, you know, we’re doing all these bad things, we got to get in line, we’ve got to eat eat a certain way, we can only go so far we’re not allowed to. And then lastly, because I don’t want to forget it, it will be a social credit score, which is already, as you well know, and most your listeners are probably aware in China, but it’s going to be worldwide, it’s going to be based on how much you salute and see Yes, sir, three bags full that in other words, the way you adhere to the meme of the day, by the control freaks, as long as you align yourself with them publicly. And what you do on social media, you will be tapped patted on the head, and you’ll be allowed to do almost anything within their realm of what little liberty they give you. And if you resist at all, especially in a social media type of environment, or you’re out as an advocate or activist and you get on top of a login, you start spouting the truth to people, you’ll will be degraded or maybe even taken out of the system entirely.

David Morgan 17:15
Yeah. Yeah, I think that is the reality. And I think we have to realize that the system is going to be very much totalitarian and controlled, the CBDCs that will be introduced will be fully traceable fully, just transparent, fully, which, you know, not only is a problem on for us, in the sort of privacy level, but also like, this could be an issue with taxes in a sense that you can be taxed with any transaction probably in in an instant. Forget about doing tax returns, you all interrupt

David Morgan 17:57
you there, and you know, I’m not sure of this, but I’m pretty certain all income tax will just go away. I mean, you’ll be taxed at point of sale. So everything you buy will be taxed right at that right when you do it. And of course, there’ll be a scale on different items. For example, if you’re in a luxury car market, you probably pay a higher tax and if you’re in you know, basic car market, and they could apply that across the board. One thing about that even though I don’t like what they’re doing is that it’s a little more of a free method meaning that you have a choice. I mean, if you’ve got the money to buy a luxury car, but you don’t want to pay that much tax you could go to a mid size or whatever and pay less tax that’s just not making all this up as a as an idea. But I it’s the system is so cumbersome. It’s so convoluted and there’s so many problems to be simple. Once the AI takes over, and you’re right about it being you know, pretty much communist communist but are called Tolo terian. But really a technocracy it’s really bringing in artificial intelligence to monitor all these transactions and then as you said, tax about point of sale so I think that part’s going to go away and whether that’s good, bad or indifferent, you can make up your own mind, but it will be less of a hassle for the citizens they’ll just go about their business but also be not only social credit score can also be on your carbon footprint. So if you are driving too much, you might not be able to buy as much food or if you eat too much meat you might not be able to drive as much or you get the idea I mean, this is going to be such a control freak. No pin down to the average person it’s it’s going to be a nightmare for any of us are in a free market thinking type kale.

David Morgan 19:51
Yeah, it will, but I would always advocate for I believe it’s still a choice to be involved in this them. And anyone out there who’s still feeling like, you know, this is inevitable, potentially it is. But it doesn’t have to affect you as much as it does for someone who’s you know, fully invested in the system and doesn’t even know what’s going on. So I guess that is the right segue to, I guess, how will owning precious metals particularly, and obviously, especially silver, in your case, help protect us from this sort of system and help protect our wealth during a potential collapse?

David Morgan 20:35
Well, first of all, I want to emphasize what you just said, you know, everything I’ve said, so far is my best studied view. But it’s not inevitable at all. And there could be a lot of resistance, and it may not be implemented, or once it’s implemented, may not work, it may fail. So there’s a lot of things that we could talk about, about what we think is going to happen. But this doesn’t necessarily mean it will be. You know, that that will be the case. So I would say why silver, I wrote the 10 Rules of Silver Investing almost 20 years ago. And one of the things I wrote about was why it was important to start with silver, it goes something like this, no one who no one wants to be a prophet of doom. But in the unlikely event of an all out financial collapse, silver will be the money of last resort, gold will be too high unit value to buy everyday goods like gas, and groceries, whereas silver will be adapted for that method. Therefore, I urge every investor to have some silver on hand, which they can use if necessary. That’s kind of an outline of what they said. And I still believe that, you know, people have every investor own silver, the price of silver probably be north of a couple $100 an ounce. The problem is that most people aren’t aware of that. They don’t believe it, or they’re in silver, it hasn’t gone anywhere for 10 years. I mean, there’s a lot of reasons why people are discouraged by so. But it’s the main fact is there’s not enough participation. That’s one. And the other one is how much it makes a financial system. Gold makes up maybe 1% of the financial system, but silver makes up point zero 2% of the financial system. But having that small market presence, if it doubled, the market participation, you can see a huge increase in price because it is a small market. Yeah.

David Morgan 22:52
Yeah. It’s potentially it’s an interesting one, because it’s like so many people around the globe, really, I mean, the majority of the population don’t really know about this side of investing, and even owning precious metals. They don’t know how to even go about owning precious metals. I mean, what’s I guess? Another question, and a lot of people do say, in the alternative space as well, is, if everything does fail, or if you’re shut out of the system, how will owning precious metals in that case, really, really help you? And I always sort of say, it’s not really for that use? In my opinion, my opinion is, it’s something to hedge, a potential hyperlink or an inflation event, then you can use the gains that you’ve made to potentially buy, you know, land or whatever you want in terms of barter material. I mean, what was your view on that? Because a lot of people do say, you know, why invest in you know, let’s say, crypto and precious metals, for example, when you know, potentially, you’re going to be shut out of the system. And, you know, there’s a potential for you not being able to use these things in that case.

David Morgan 24:12
Okay, well, going back to the 10 Rules of Silver Investing. And I, you know, went from memory what I wrote, which my memory is pretty good, but it’s, you know, 10 rules, and then I expand on what the rule means. So rule number one is, when all else fails, there is silver. I mean, I can’t be more succinct and direct in that. So when the when the cyber attack comes when the grid goes down, or is turned off, or you’re not allowed to enter into the internet because you have a low social credit score or any of that stuff. When all of that fails, they’re silver. And again, going back to small units like 90% Silver dime or 90% Silver quarter like we used to get paid was 11 year old kid that has the value of about $6.25 sense. So when I was a teenager, I could buy a gallon of gas for a quarter. And now I can take that silver quarter and still buy a gallon of gas. So it’s done what it’s supposed to do, which means maintain your wealth. It certainly hasn’t made any of us wealthy, but I think those days are ahead of us. So really, when all else fails, there still are now going a step further. And it’s not a total breakdown, which I doubt there’s going to be a total breakdown, but there’s going to be some big disruptions, there’s a big difference between not being able to get exact groceries you want and being able to eat than there is not having any I mean that I don’t think it’s going to take place, there could be areas where it’s that bad, but you know, people are very, they adapt very quickly, especially under harsh conditions. So move, they’ll find it, they’ll find a way. So back to what you said, George is in, as this thing morphs into the next system, there’ll be a lot of opportunities. And because you have got real money, you will be able to take advantage of those opportunities. So you may be able to buy somebody’s business, you may be able to take over a grocery store, you may be able to buy cash flow, real estate, my bit about right land, you might be able to start a car lot. I mean, there’s a lot of things you can do when you have cash at the bottom. And I mean, real cash, physical, gold and silver. Could be other things. But those, as I said earlier, are the primary ones. So I think that’s it. I mean, the no rule number one, when all sales are silver, of course, gold as well. And gold would be very useful as in a scenario, that’s the most likely, which means huge distortions, people that are over leveraged. I mean, there’s probably people out there in the real estate market right now that are looking at a $5 million $10 million $50 million net worth, they look at all their properties and look at the cash flows and look at everything they’ve got, but they’re still over leveraged. And if the real estate market crashes, and they can’t service the debt because people don’t pay the rent, or the government says they’re only allowed to clap this month, should they move out, all of a sudden, those very large numbers on paper that make it feel very secure, over literally almost overnight that can come very insecure. So there’s a lot to a debt based monetary system that most people don’t find out until they find it out the hard way. And that is an example of that going to happen in real estate? I don’t know. I do know it happens some people in the 2008 crisis. And I’m not real pro real estate right now. It was always a case by case individual one on one relationship. In other words, there’s always opportunities in every market, if you know, the circumstances. But you have to look at him carefully.

David Morgan 27:48
Yes, for sure. And I think there is there’s going to be opportunities. Like you mentioned, in any of these sorts of scenarios, there’s always opportunities. And people who are awake to these situations usually can do pretty well, and can really make the difference to their lives. And, you know, this is where the chances can happen for you. I guess moving on to what your view on crypto is because a lot of Beretta precious metals guys can sometimes not really get into crypto, they sort of shy away from it, because it’s sort of tech based. What’s your view on the market? I know, there are sort of definitely, let’s say government and banking backed coins that maybe we we don’t want to get involved with. But there’s also some some good projects going on, in my opinion. So I mean, what are your views on on that? See the whole crypto market and what you’re getting involved with?

David Morgan 28:47
Well, my overall view is I am free market and I wrote an article my two bits about Bitcoin. And I think 2017 It might have been as early as 2014. I don’t remember, it’s been at least eight years or so. And maybe not eight years, five years. Anyway, MIT bits about Bitcoin. So who cares what I think if I am who I say I am a free market, it’s up for you to be determined in the market to determine if bitcoin is good or that at that time when I wrote it, Bitcoin was about the only thing out there. And I also said that watch out because the money masters have a monopoly and they will not want to lose this monopoly. So Bitcoin truly is independent. And I’m not convinced that it is. But if it is, the bankers will figure out a way to get regulated or control it or you serpent or whatever. I think that’s happened. Go to my website, the Morgan report.com And you pull down the blog tab. There’s 21 different interviews that I’ve done on what’s called the crypto conspiracy podcast. And I brought in a lot of different gasps talking about what’s really going on in the crypto space. So if you’re interested in looking at both sides of the coin, as before you invest or even after you invest, I would highly recommend that you probably watch every one of them. But really to save time, I would suggest you listen to number one, I should have been Well, number one that kind of got an intro to it number four, where we bring up the graph Commons and show how much Jeffrey Epstein at MIT is tied to Bitcoin. And then go to number 14, where he interviewed Kurt Kurt, who was a historian for Bitcoin. And he verified everything that I had conjectured up to that point, meaning that it has been usurped by the banks. And proof of that. And then up to I’ve done with Michael McKibben, the last one was most recent, it was episode number 21. And he talks about how the whole email slash social media space started, and that what he had to do with it, and how it was basically patented, and patent was taken from him. And so there’s a lot to the story that I’ve done probably more work on, I think, a buddy in the public domain, on this whole situation. So if you really want to look hard and deep, and keep an open mind, I would highly recommend that you get on the website, the morning report.com, hit the blog tab and start looking for the crypto conspiracy podcast.

George Papp 31:57
I think for me, I think maybe it started potentially with the look on being freedom based. But it’s hard to tell, like you said, it’s hard to tell. And bitcoin is completely tracked, trackable. You know, whatever transactions you do on the Bitcoin Blockchain, they will be able to use chain analytics to basically just trace that transaction, and they can see exactly how much you’ve got in your wallet. And that’s not just government, that’s also other just, I guess, hackers as well. It’s like, you know, even criminals out there who want to, you know, hack your accounts, let’s say, can basically see everything you have. Now, that’s where I think there is a solution in the privacy coin space. I mean, do you know much about these sort of privacy coins at all? Or do you have a view on those?

David Morgan 32:50
Yeah, well, I’m all for, you know, free market and peaceful solutions by, you know, innovators. And yes, I am familiar with some of them. And, yeah, this whole thing about the blockchain is very, very interesting to me. Because really, it’s it’s a double edged sword, overused, metaphor. But on one side, you have central bank, digital currencies, controlled by the elites that we already given us so much grief. But you also have the opportunity to create your own system. And if money is power, which is one of my main premises, and the bankers have the money, then they have the power. But if we have the money, then we have the power, and we don’t even need them anymore, or very likely, we agree to have some leadership, quote, unquote. So the opportunities there is just how will it be taken, and you know, the power of authority is breaking down all the time. I mean, unless you’re in the in the programmed space, meaning, you know, you’ve watched enough TV, that your neuro connections are so entrained, that you can’t think outside of what you’ve been programmed to think. But anyone that’s not that dark, which is probably better than half the population, then you have the ability to make your own rules, you know, and do your own thing. And of course, that’s where the privacy coins come in. So it’s not determined yet. You know, I know I sound like Mr. Doom Mr. Gloom, I don’t mean to I think I’m a realist. I try not to overemphasize the bad or the good. There’s both always and the opportunity is there. So a lot of people George and your generation or my kids generation, very bright, very optimistic, looking for solutions, thinking about how things can be done differently thinking way outside of the box, and certainly have not been programmed by the mainstream media into the inability to come up with solution. So, pretty optimistic about it, but not 100% Obviously, there’s a little bit struggle. And it’s gonna be, you know, the overused word very interesting times to see how this really, really comes about. I mean, you could see a quick example, you know, the cbdc implemented. And you know, you have to have a central bank, digital currency, your bank account is going to be closed, you’ve got one week to change over who knows. And nobody does it. Of course, people will, but the point being that they may not see, again, it’s a big thing in a way. Because there’s so many people that are becoming awake and aware all the time, and are seeking solutions. I mean, something as simple as creating your currency, like happened in the 30s, where your local community just agrees, and makes it illegal contract and say, for every hour, you work, you get this shit. And so many of these chips are good for chicken, and you know, that kind of thing. And that happened a lot. So it can happen again, as I said earlier, when the pressure is on, people get very, very creative and power the people.

George Papp 36:15
Yeah, you’re forced to become creative, right? Yeah, otherwise, I think it just brings this whole COVID thing into perspective, where it’s forced people to make the change that actually probably is better their lives, because there’s a lot of people in our space you have probably had. I’m not gonna say great time in the last two years, but I will say maybe an enlightening time, and also probably have moved into their passion, or at least have woken up to what’s going on in the current system. So yeah, there is a lot of change. But it doesn’t necessarily mean that it’s going to be, you know, chaos fully on and complete destruction for you. There’s always going to be in my opinion solutions. us as human beings, we are, in my opinion, again, very creative, like you said, and also very, very, we have a drive for freedom within us. And I think that could take hold. We’ve seen a lot of awakening in the last two years, for sure. Record number. So yeah, it’ll be interesting to see where this goes, like you said. So I mean, let’s move on to any projects that you’re currently working on. I guess load is one in the space, but also, personally, what are you doing to prepare for, you know, potentially what’s going on in the food crisis, just COVID in general, but even just how the system’s going, what are you doing personally, in your own life, obviously, don’t have to share too many details, but just what you’re doing to prepare and also speak a bit about load as a project that you’re working on?

David Morgan 37:55
Sure. You know, as Buffett says, we eat our own cooking, I obviously have some called Junk silver, constitutional silver, I have what’s called bag silver, which would be bag silver is $1,000 face value, so it’d be 4000 orders would equal 1000 face value. I’ve gotten a bag of $100 and dimes. And that’s, you know, $100, right. It’s all it is. But in Fiat, it’s 2500. Right. So that, again, shows you what I said a moment ago about, you know, a quarter will buy a gallon of gas till it’s a silver quarter. So I have that also have paper money. I mean, if the ATMs go out, or there’s a problem with a cyber attack, or any of that stuff, it’s not bad to have physical, you know, cash. So I have that I saw the food thing from a long time ago and been advocating, you know, have some extra food. So I’ve got that. And then being more self sufficient, you know, thinking back about taking using the, say, the precious metals and converting into something that is beneficial more than just having solid money. Because really, you know, having a strong savings is a good thing. But really, at the end of the day, you’re gonna have to do something with it, hopefully something productive. So you go back to the idea of raw land, let’s say that you have enough silver you can buy, let’s make up a number of five acres, five acres, you don’t give it to the community, but you let the community come in and work on it for vegetables and you make a community garden and everybody benefits right. So I mean, there’s a lot of things that you know, that have potential like that. You just got to do a little bit of thinking to implement them. So that’s about it. I you know, try to live within my means always have tried to be somewhat frugal, but not miserly. I always think of how I can contribute, I won’t go into what I do. But I will just say that it’s not all about me. It’s certainly about what I can contribute not only to these podcasts, but what I can do, sometimes financial, often a financial basis, because it’s easier for me to contribute that way than to, you know, work at the food bank, or work at the homeless shelter or whatever, all those things are not out of my wheelhouse. So we’re gonna get back to you, George.

George Papp 40:32
Excellent. Yeah, I’ve been doing the same thing would be sort of money in the account taking, taking cash, physical cash as well, even though you know, technically, it may not be worth much, let’s say, in a hyperinflation environment, but people’s minds have been focused on the fact that paper money is worth something, right. So you know, it could be useful in those sorts of scenarios. And in regards to, like you said, you know, doing charitable things, helping others who, who really need it in this time is, is definitely something that, that, you know, you’re advocating good for the world. And usually, it comes to you, and you don’t do it out of out of the fact that you want something back, you’re giving, and these sorts of things are certainly in light in alignment with with how I guess, people could and should be in a way, you know, just being more giving. We’ve come into a world where we’re very greedy and focused on ourselves. And I think this has probably led to the situation that the collective is born into. So yeah, that’s, that’s a great point as well. I guess finally, what advice and key takeaways would you give our listeners to implement sort of strategies in their lives that they may not have heard of before just key sort of takeaways for them to take into their life

David Morgan 41:57
by being independent or self sufficient, independent doesn’t mean you do everything by yourself, but independent means you do more by yourself. In other words, instead of hiring someone to fix your plumbing, you learn to do it yourself, or maybe minor repairs on your car, whatever. In other words, more self sufficient you are or really the more self sufficient your community is, the less dependent you are. And we in the West particularly become overdependent. I mean, you’ve got to have someone that tells you you know, what your meal plan is you gotta have someone tells you how to lift the weight, you have someone tell you, you know where to put your money, you have to, you know, it’s an all these things you should be able to do on your own. So the more self sufficient become, and the more that you simplify your life, I think it will be the keys going forward. And I guess last one is attitude and appreciation. If your attitude is I can get through this, no matter what the world throws at me, that attitude alone will carry a great deal. And an appreciation for what you do have, you know, you might go back, I’ll never get that brand of, you know, chocolate again, or whatever. And that was that will happen. I’m not sort of saying chocolate, but there will be things that you take for granted today, or a couple years ago, that just will not be available anymore. And so, but that doesn’t mean, that’s just a thing. Maybe a food item, it may be a game, it may be an internet site, who knows. But the idea is to appreciate what you do that be grateful for what you do have. And lastly, your contribution. You know, what can you contribute to your fellows, you know, what, what is it in time? What is money? What is it in conversation, sometimes just listening is one of the most underrated one of the most underrated things that our friend can do. Sometimes people just want to get it off their chest, they don’t even want your feedback. They just want to vent and you just sit there listen to every word and say thank you for sharing you walk away, that has a lot more power than most people understand. So hopefully there’s some ideas for you.

George Papp 44:07
Nice one. Yeah. holistic approach is, is something that is definitely key for our independence, or community. Because we’ve been focused to sort of be pigeonholed into, I am a economics, economic economist, or I am a plumber. And that’s all I know, right? Instead of, instead of actually having a holistic approach of you know, I can do certain things in and I know certain things in each of these categories. So you can be self sufficient, or at least your community like you said can be self sufficient. I mean, in the UK, we would you know, if something breaks in your bathroom or something, you’re straight on the phone to some sort of guide to come and fix it. You know, something happens to your car straight away your phone and someone else To fix it, instead of the sort of approaches, unfortunately, that just gives you a power away and I, you don’t need to necessarily know how to do everything, you know, your community as a community could have those skills. But, you know, having those minor skills can get you a long way. And I think that’s the way to sort of take our take our power back, potentially. Well, thanks, David, for joining me today, and I look forward to having you on again, in the future, potentially, make sure you subscribe to the podcast on iTunes or Spotify. Plus, if you’re interested in having one to one consulting to prepare your wealth, for the great reset, check out this episode show notes for a link to cryptonomousconsulting.com. Also, we’ll have all the links to the Morgan Report and, and also other links to David Morgan stuff, all in the show notes for you to learn more, please do check it out. Definitely. You know, it’s going to be amazing information for you to learn and to, you know, get that sort of education that you need to move forward. So yeah, thank you very much, David. Any last thoughts?

David Morgan 46:08
That’s it, George. Thanks for having me. Appreciate it.

George Papp 46:10
Excellent. Thank you David and peace of love to you.

David Morgan 46:12
Thank you

Episode 1 – David Morgan: Exiting The Banking System With Precious Metals

George Papp from The Conscious Renegade joins David Morgan, author of The Morgan Report in an eye-opening interview delving into investments in crypto, physical metals and gaining financial freedom in a tumultuous economic world. Learn about Bitcoin, Gold, Silver and the Federal Reserve as well as David’s 10 Rules of Silver Investing.

The Conscious Renegade is an independent media organization striving to educate, engage, and empower you to be the change you want to see in the world. Whether you want to quit your nine-to-five, find financial freedom, or make a positive difference in society.

Privacy and Investing Strategies to exit the Great Reset

David Morgan
Website: http://www.themorganreport.com/membersportal/aff/go/theconsciousrenegade?i=4
Book – The Silver Manifesto: https://www.thesilvermanifesto.com/