Hello everyone this is adam meister the
bitcoinmeister the disrupt meister
welcome to the one bitcoin show today is
March the 24th 2020 strong hand
long-term thinking golden age baby
it's the having height will talk about
the having personal responsibility is
the new counterculture we're gonna talk
about that so yeah I am still offended
by selling your Bitcoin of course don't
FOMO an alts we got JW weathermen in the
house tonight today wherever you may be
remember my elite friends hello elite
friends if you've got questions I got
answers you can type in a bitcoin my
start do a super chat and we will answer
your questions retweet this because
youtube isn't really sending out good
notifications anymore crazy stuffs going
on in this world and JW is going to talk
about it so welcome back to the show JW
weathermen thanks man thanks for having
me back it's always fun to hang out with
the the crazy adam meister now what's
going on is a lot of people i don't
think they're even seeing some of the
awesome stuff that you're tweeting out
there because of a possible shadow ban
who knows what we will talk about that
no it's it's guaranteed man because i
too many people screenshotting that and
sending it to me work they get to see
one comment of mine and then there's a
lot of that's just it says it's been
removed all right i think it says that i
deleted them so people think i'm
deleting all my tweets i did believe one
tweet in the last month but not the
seven in a row that are showing up on
screenshots yeah well let's talk about
why god baby you're being shadow band is
that your uh you're not living in fear
right now there are a lot of people
living in fear and when people are
scared
it appears off they're willing to give
up
their freedom what is what is your take
on the current event situation so yeah
basically I I think I don't think the
virus is that big of a deal but even if
it is the range of possible responses
like actual actionable things that you
might do are anything from avoiding old
folks in a bad flu season like you would
all the way to wearing a mask and gloves
when you go to the grocery store yeah
you know assuming you can work from home
working from home right maybe washing
all of your groceries and a bleach
solution before you bring them in the
house none of that's crazy right now
right now like anybody that does
anything within that range totally fine
nobody's really doing anything outside
of that range so it doesn't really
matter right but at the end of the day I
think I think that it's way overblown I
think people are freaking out and the
main thing is I know that the media is
incentivized to cause fear and terror
I've caught them and several eyes over
the last month trying to get me to
embrace fear and terror and I've seen no
evidence that I should be fearful or
terrorized so based on that I just I
don't I don't think there's a there
there but but you know I'm still
avoiding old folks and I'm still
avoiding the sick because I could have
Cova drano and I don't want to put
anybody at risk but I'm not wearing a
mask to the grocery store so but that's
just my personal selection in this range
of reasonable things and yeah I'm
certainly not asking the government to
take all of my rights and freedoms away
so that I don't get whatever this might
be yes so pound that like button that's
very sensible JW and Adam Meister we
believe in personal responsibility here
but what's your take on it seems like
the majority of people defaulting to the
government for a solution are we living
in a in the United States here or in
California whatever you want to say has
it become fascist is everyone living for
this state and is the state picking
winners and losers well what do you
think about this I mean clearly state
ISM you
is the default here is very shallow yeah
I mean I think I think most people are
status right I think the you know if you
were 2,000 years ago you might be
worshipping the Sun I think most people
now are worshipping the state it's just
it's so part of our culture and part of
our nature at this point that we don't
even recognize it and I think when stuff
happens like this it becomes a little
bit more clear but you know the same
people that are asking the government to
take all of our powers there are also
the same people that are putting their
kids in public school and having them
indoctrinated for 40 hours a week it's
just not a shocking like if you really
step back and you go alright Bob Bob was
freaking out right now and he's he's
become a fascist but you know a month
ago Bob drops his eight-year-old
daughter off and put him in the hands of
a 45 year old on his second marriage
probably alcoholic low IQ monkey for 40
hours a week at public school where he's
gonna be she's gonna be indoctrinated
and you know based on some very clear
statistics has a much higher chance of
being sexually abused right so you know
I thought bob was crazy before that said
Bob's freaked me out enough over the
last months where I'm gonna move I'm
getting out of California so I'm not
being an alarmist I'm trying to keep it
in context of everything I know about my
neighbors and history and all that but
my risk assessment has changed over the
last couple weeks okay so you are there
any estates or cities you don't
recommend where there is a nap this
default to authority and where the
authorities aren't overreaching I right
now I mean I'm not I'm not doing any
research but I mean there's got to be
some state out there where the
governor's aren't trying to show off who
can outdo I mean it's who can outdo the
other one who could be more of an
austere authoritarian it is there is
there a state or city out there and it's
still free well no but there isn't a
country either so I mean I'm staying my
thought process is basically I'm staying
in the US because I want to be able to
shoot bad guys if they come in my house
and it's pretty hard to get that right
anywhere else it's also pretty wealthy
here which means like you know if you
people have this idea that you can move
to Costa Rica or Panama or you know
wherever and if you if you do that your
cost of living is way lower but the
reality is you just have to live like a
homeless person down there to have your
cost of living lower and you could live
like a homeless person here the reality
is like a gallon of milk at Walmart in
the United States is as cheap as you're
gonna get it anywhere on the column and
so for those reasons I'm staying in the
US and I I'm not really sure which state
I'm gonna live in yet but I'm mostly
looking for just less population density
it's a big sacrifice because it's a lot
easier to invest in startups where I'm
at right now which is in the East Bay of
San Francisco that's you know I can
drive over to Silicon Valley and meet
with potential startups and do diligence
and all that sort of stuff so my income
is probably gonna take a hit but but
yeah I mean big picture though I guess
the other thing is I'm just I have more
money than I have stress to spend and I
think I'll being less stressed out
what's just less population density
especially with weird stuff like this
happening I'm not looking for utopia I'm
just looking for a place that's slightly
less weird well now that we're talking
about locations real quick hat how are
things on the streets out there on the
East Bay I mean have you been walking
around does it look the same to you or I
mean yeah no one no one can forcing
these rules here in LA I know that but
what's that it's it looks about the same
I mean I would say like the main thing
that I'm doing in this of my wife and I
have laughed about this being maybe not
the smartest thing but I'm trying to
keep an eye on sort of the environment
and how everybody's feeling and I you
can't trust the news you can't trust the
media so like I'm going to the grocery
store every couple of days I never go to
the grocery store like I my wife does
the shopping and it's delivered and all
that but I'll just go in and talk to the
checker and I would say a week ago when
I went in people were terrified like I
walked in the grocery store and it was
so palpable
like there was a woman scrubbing down
there's a Trader Joe's that I wanted to
a woman cleaning the the shopping a
little shopping cart and all stressed
out Hey
going you know thanks for doing that and
she's like just went into this ramps
like she it was it was really it was a
really creepy environment everybody was
stressed out
I'd say it's chilled out quite a bit but
it's not normal yet lam a sphere is very
strange but people are still going the
grocery store so yeah and that's the
thing the the the the country or the
government whoever you want to say says
you know shut it down everyone but still
it but grocery stores can remain open if
it's being spread it's gonna be spread
there I mean they're picking winners and
losers here and III believe it you know
old people will lock yourself up take
personal responsibility we need to get
back to work here III I think as a
country we got to get back into that
mindset because we are definitely living
in unprecedented times where the world
economy has been basically shut down
what's your take on that how long ago we
can last with the world economy being
shut down actually I think it's already
turning I I expect it's to flip a few
days ago so big picture what I think
happened and you know I could be wrong
about this but this is my working
hypothesis the Chinese identified a new
virus there's nothing particularly
interesting about this new virus but
with the SARS panic and just their
central planning and corruption and they
don't have good data they they kind of
freaked out and overreacted
not a ton though for their style of
running things but they they did between
that and the I think that was the the
cost right I think that set the fire
what blew it into craziness was a
combination of social media and regular
old media the old media is dying
they're so thirsty for clicks it's just
ridiculous and all they do is amp up and
terrorize people social media on the
other hand has this problem where it's
really hard to tell who's an idiot and
who's not and you know it kind of
creates this natural mob right so you
have this mob but social media at this
point in time like Twitter for example
they have two implements that they have
to make people like me quiet because if
they don't and I'm saying unpopular
things the government is already got
them by the
right they're already being threatened
with essentially nationalizing twitter /
elections and other things and so if i'm
saying hey i don't think it's that big
of a deal and they don't silence my
voice they're going to they're gonna be
out of business right assuming that I
remain an unpopular voice or even if I'm
just unpopular for a period of time like
they can they can really be burned so I
think they've implemented systems that
segregate off people like me the
contrarians because otherwise they won't
be able to survive their business model
won't work with the political pressure
and that exists and what that means is
that the people that normally take out
the flame right they normally slow down
the panic people like me in this
situation I mean I could be I could be a
panicking next week about something else
I'd probably have more of a tendency to
panic over you know draconian government
measures that a virus but either way
people like me trying to say it's not
that big of a deal or taken out of the
conversation and people that are
freaking out or amplified and that's
just the nature of the algorithms that
they've had to implement so I think
those two things are interesting like
they're interesting like on a historical
perspective right media being that
desperate for clicks and that irrelevant
and stupid and just that willing to lie
I think this might be peak and like all
human civilization on that front social
media being set up to amplify stupidity
I think might be peak because I don't
think that jack for example wants it to
work like that I think he really wants
to Jack Dorsey and I think the people at
Twitter they really want this thing to
work but they're being forced to be the
moderators and so they have to write
algorithms that highlight the popular
and quiet down the unpopular and that
just amplifies anything right and in
this case I think it's amplifying the
confident yeah well you you had a tweet
out there talking about how it's it it's
similar I mean it's on a whole new level
here but when we have the tropical storm
how the media just plays on the fear
it's unbelievable that is what sells and
it is quite interesting we've had these
the news has sort of lead out about the
the anti-malarial drug that people can
take and the media is portraying that as
like
like that's not true and they're not
even talking about it I mean they're not
giving people hope they wanted like
extend this thing for as long as
possible it seems like it is guys there
is a you know this is going to end
eventually if we will get back to normal
life and we should do everything in our
power to come you know to say that you
know the life is life is gonna go on
here dudes and there you just do not add
to this panic prison and I'm glad you
know there's there's some of us here in
the Bitcoin land that that are usually
talking about Bitcoin like you and me
who are who are not afraid to go against
this mob I mean it is because what do
you think about the social media mob I
mean and that something we people have
seen to join it yeah you know it's
interesting because politicians are
always trying to ride this beast of the
mob right and it's kind of unpredictable
Beast I don't think that most of the
politicians that were freaking out about
komen last week I think actually you can
see Trump's response if you were kind of
paying attention at first he was trying
to downplay it and say it wasn't a big
deal I think what happened though is
between the media and social media and
just people's general fear he realized
that that's going to cost him way too
many political points he couldn't afford
to keep trying to calm people down so
you know because his job is to ride this
donkey it's not to redefine it right so
all right well polls are saying
everybody's gonna freak out I better I
better you know I can guide it gently
one way or another but this thing is it
state that's on a tear so then he's got
to ride it into the panic zone and
really amp up the panic which I think
he's done pretty well and you know his
his approval rating I'm sure reflects
that but just the last couple of days
and I think maybe even today was the
first time I've seen him in over a week
come out and say hey we're gonna get
back to work and it's not gonna be
months and I think that that's a good
sign that his people that are looking at
the polling are realizing that people
are getting tired out they're realizing
that they can't stay in their house
forever they don't know anybody that's
died of this thing they don't even know
anybody that knows anybody that's died
of this thing so that that knowledge is
finally starting to permeate this big
we called the mob and now he's able to
say alright let's bring it back a little
bit towards sanity and we'll see where
we go so I think you know it's
unfortunate I think that's the way
things have always been but we do have
some weird stuff like I mentioned that
it's making the mob more unpredictable
than usual and that's I mean ultimately
that's the equation that that I'm
running and saying I just want to be in
a little bit more rural of a space
because my neighbors are just a little
bit more unpredictable and I thought
they were a couple months ago all right
great analysis of the situation with the
president how he went with the flow he
couldn't but now clearly he must have
polling numbers this show that Americans
are becoming want to go back to work and
the funny thing is if you look at social
media you wouldn't know that because the
voices that want to go back to work
though are being classified as lunatics
but by by the mainstream media and stuff
but I think there is a silent majority
out there and and and we're part of it
right now I I don't know about other
countries because I'm not in other
countries I can only see the social
media that's coming out of them so that
might be skewing you know there might be
biased stuff there I do want to read
here this is from the United the United
Kingdom just sent out this text message
it says new rule everyone saw how they
can send it to everyone coronavirus
alert no rules enforce now you must stay
at home more info and exemptions at the
their status website stay at home
protect the NHS save lives daddy that's
fascism Patrol protect the NHS I mean
that isn't that bad I mean yeah but
we've been we've been living that man
like I see so there's two things that
are causing people that maybe three
things that are causing people to freak
out right now the virus itself which we
don't a lot of us don't think is that
big of a deal but if you're wearing a
mask to the grocery store I'm not
calling you crazy right like it's
reasonable so then there's the then
there's the economic problem and then
there's the the growth
government power as far as the economic
problem goes I'd say you know they don't
invest in things that you don't
understand bitcoins a good idea don't
get rid of all your dollars because
things don't usually change superfast
but don't be totally dependent on on
dollars either and you can do that I
think bitcoins the only thing that I
really feel good about owning right now
is Bitcoin but you know I'm a little bit
diversified and I do have some dollars
so I have plenty of dollars towards if
it doesn't hyper inflate which is
possible and those dollars have gotten
even with all the printing those dollars
have gotten me more purchasing power
because everybody's running out of
equities right and so it's it's a little
bit messy to navigate the economic
problem but I think you know stay stay
out of investing in things that you
don't understand and that will serve me
well but then the other problem is like
the growth of statism and I think it's
true that the government is getting a
lot of powers right now but I don't
think that this is a conspiracy all of
this stuff seems like a real natural
consequence of the way that the world is
set up there was a time where I wasn't
sure maybe two weeks ago I was like yeah
this is this is looking like it could be
you know a big power grab but just
looking at the way things are set up in
the way they're playing out I don't
think we need to ascribe conspiracy to
this one even though it's possible it
just doesn't matter so the the the
question is like with this growth of
statism how do we respond to it I think
it's clearly not a good thing but it's
also probably pretty temporary I know
there's nothing as temporary is that you
know or nothing is permanent as a
temporary government program or whatever
but the the the idea that like these
laws are getting passed or whatever and
we're losing tons of freedoms we didn't
have any freedom you know relatively a
year ago the only reason like the
Constitution hasn't been protecting us
in the United States what's been
protecting us is that people are
dangerous and a little crazy and if you
push them too far they'll push back and
we have a lot of you know crazy people
in the United States and sometimes they
get on my nerves but times like this I
really appreciate them because they're
keeping a
they're keeping the you know the
Liberals and the Socialists and the
Conservatives that want to go to war all
the time and check a little bit because
nobody wants the crazies getting too
pissed off so that's why we're free
right we're free because we're dangerous
that that hasn't changed
the only thing that's changes right now
we are as a group very fearful and
willing to give up a lot of freedom but
if the tequila dries up in about six
weeks we're gonna get real dangerous and
we're gonna get way more dangerous than
we were before and the amount of freedom
that we're gonna get back is going to be
maybe more than I even want so you know
it's a it's it's not about the paperwork
it's about the dynamics they're in play
and those really haven't changed that
much
well pound that like button everyone I
want to say you know you were talking
about being on Twitter being shadow band
I want to remind everyone that's
watching this show right now it is very
it has become apparent that I think
since Saturday and I don't know why it's
starting Saturday but it appears it
started Saturday that YouTube for some
reason and maybe they change their
algorithm maybe I'm on a list I don't
know I just want to say to the people
who are loyal Watchers of the show they
are not sending out notifications as
much as they used to and beforehand they
weren't doing a real good job of it but
that was fine but they really cut down
on that so the people are not finding
out about these videos unless they like
come to my channel so dudes follow me on
Twitter at Tech ball te CH B alt and re
tweet you know when I go live so the
people who could watch it library they
can know that I'm still making videos
because it is it's pretty obvious that
something's change with the algorithm or
something is up in social medial and I'm
not going to get into uh conspiracies
this is where the big boys place it's
just this is where the big boys play I
don't want all of you to be proactive
and you know support the show by
retweeting etc etc and I was I was
damning actually jjw the other day and
it's just I find it fascinating that
during this time when we're living
through a unprecedent times that it
seems like more than ever people are
just following
social media algorithm and they're not
this is a time for individuals to seek
out to manually go on social media and
check out different people's feeds to
check out the links below when you watch
the video and like and not not just go
where YouTube tells you to go but go
where you know your other people are
saying hey this is good check it out
where you actually have to take action
it seems like now people are just along
for the ride
and more than they ever were before
they're intellectually lazy more so than
they were ever before and this is a time
you shouldn't be that way at all
just don't listen to what the government
don't buy into the narrative at this
time but it just seems like more that in
this and this is what's frustrating the
mean and other people just people are
eating up the narrative more so than
they they ever were before and I guess
it's it's this fear-based thing alright
so uh and I warned the quote of Michael
Knowles real quick he said this is a
dictatorship of the experts that's I
like that I like that I like that saying
out there alright I also want to read
this tweet from the FDIC this is this is
from a lady at the FDIC has a video it's
linked to below forget the mattress
keeping large sums of cash at home is
risky the best place to protect your
money is in an fdic-insured Bank where
it's safe and sound learn how the FDIC
safeguards your money and she gives a
link alright dudes this is where we
start to talk about Bitcoin tarnish
alright
so JW the United States government
doesn't want people to panic out of the
dollar
they don't want people to panic out of
banks they're printing a lot of money
they're coming up with new QE teen fit
who knows everyone's buying up these uh
programs they love it
what's your take the Bitcoin having is
not going to cancel like you know all
the baseball games and soccer games so
what's your take on Bitcoin uh leading
to having yeah so I'm like famous for
being probably the worst Bitcoin
investor to date right like I'm one of
the few people that bought in it like I
think my average buy price was seventeen
five somewhere in that range
I thought it was higher but I think it
was about that and that was just because
that's when I heard when I learned about
Bitcoin and the light bulb finally went
off but I don't regret that I'm fine
with that
in fact right now I'm actually more fine
with that than I expected to be like the
whole idea that everything is crashing
and Bitcoin isn't crashing harder never
III thought that was the stupidest idea
in the world because it's the way I look
at it is it's like a very risky high
tech investment but it's weird that this
very risky in my mind high tech
investment is performing better than the
sp500 at a time of panic and crisis so
that's really interesting I mean I know
a lot of people have thought that it was
going to like go up or even perform
better but the fact that it's not
performing terrible like it's basically
been flat you know I don't know what
even if it came down a little bit it's
flat because the purchasing power of the
US dollar has gone up right the dollar
has become more valuable so I think
that's pretty interesting I haven't
fully internalized that yet but it's
definitely something that I didn't
expect to see but overall yeah I mean
it's it's winning right it's going to
continue to win it's going to continue
to permeate people's minds I mean how
many people right now think that there's
gold in the vaults for all the dollars
that are being printed probably a lot
less than a couple months ago when they
say we have infinite dollars in the
Federal Reserve I think some people are
gonna go oh wait a minute
how could they have infinite dollars
right I even saw people talking about
like you know the Platinum the
supposedly they're gonna mint or maybe
they did this one trillion dollar
platinum coins people honestly were like
what are they gonna get all that
platinum from right I'm like yes you're
gonna get it you're asking the right
question you know within a couple of a
couple more steps you're gonna you know
have a rude awakening to the Fiat
monetary system so you know I think this
is I think we're in a good spot as far
as all that goes but one thing that I
would say though is that
like I think all the bitcoiners are
pretty sure that in the world is
happening like oh they've printed you
know X trillions of dollars that's not
necessarily true the name of the game
here is they want to print money to
scare people back into equities right
more more realistically they want to
print money because they likes money
right and they're not gonna print like
if they were a third world country to be
easier for us to evaluate it you don't
want to print so much money that you
hyper inflate the system so when are you
going to print money and take let's say
take money off the table if you're if
you're running the printing system when
people when when dollars are getting
more popular and practically speaking
that means when equities are going down
so people are freaking out they're
exiting equities I think that's just an
opportunity for these guys to print
movie now if they over print it can
cause major problems but I don't know if
they're over printing like you want to
print as much as the panic will allow
you to print to bring the purchasing
power of the dollar you know down but
not so far that you end up hyper
inflating it there's a lot of panic out
there and a lot of running from equities
so that's what they do
their slave owners that you know are
farming all of us I don't know that
they've suddenly gotten really bad at
that they've been decent at it for the
last hundred years so you know that's
good news and bad news but yeah I think
I think we're probably all going to be
okay in a couple months that won't it
won't be as big of a deal as we thought
but you know you're hearing that from
the guy that's moving out and could it
make some lifestyle changes at the same
time as a result of this well I guess I
like to take on the dollar there people
are buying up the dollar story they
still believe in the dollar story
because they believe in the panics story
so that's when the panic story is on
fire the dollar stories don't fire so
I've said I don't believe in
hyperinflation anytime soon and III can
see why people are flocking to the
dollar I think they should be flocking
the Bitcoin because it's the best money
out there but I see the rationale for
the people to jump into this so you I
don't put words in your mouth but you
you think we could hit we're gonna
there's gonna be an
announcement soon I think that we're at
20% unemployment and that's the scary
number with that in mind you think that
in the next few months that everything
could come roaring back again I think
it's possible I mean I may be 50/50 on
that because I mean there's a good
argument that we were already going into
an economic decline right it happens
every five to fifteen years were right
in the sweet spot of that what do we for
12 years in or something like that 14
years then it was due they were they
were I mean we were nearing zero
interest rates we were at it at that
clip before this happened right so
there's a lot of indications that we
were looking at a multi-year economic
slowdown before this happened and maybe
that was the maybe this has been the
thing that pushes over that's very
possible
on the other hand this is such a crazy
amount of fear and panic that is all
going to vaporize in my view over the
next six weeks that it could snap back
quite a bit I don't know if it'll snap
back to as high as it was but I can see
it snapping back so much this seems like
a like a short-term event so you know
it's also possible it gets a lot worse
right like it's also you know and smart
people they kind of expect things happen
in kind of a normal curve right or you
know the likelihood is things don't
change but there's that 10 percent
chance that my kid gets sexually abused
in school so I'm not gonna put him in
school right so you make decisions to
keep things in your favor and you you
don't necessarily think that every kid
is getting sexually abused but you look
at the stats and you go adds 10 times
higher right that dudes a stepdad I know
that that means there's 10 times higher
likelihood he's gonna abused the little
girls that are in his charge right you
just know about how the world works and
you you try to avoid not putting on your
seat belt when you get in the car right
little decision like that so I think
that's you know how smart people are
going to manage this - even if we're off
we'll be fine
but you know things are probably not
gonna change as much as people think
it's gonna change in the middle of the
greatest panic I've ever seen in my
lifetime do you think some people just
want to live through their own 9/11 that
this is that that's part of the reason
this is being blown apart that you know
people look back on history and they
want to they want to live through their
own moment of drama here and that's part
of the reason this stuff fear and panic
gets spread I there's probably an
element of that like there's probably an
element of wanting relevance or
something but I really think that like
the huge causal elements here or media
becoming irrelevant and being thirsty
for clicks I mean we were talking about
it briefly before every time there's a
storm right it's like it's a meme right
you've got like a newscaster standing
out in the wind and it looks like he's
about to get blown over and then some
dude just walks by right that's the
media that we have now it's weird that's
a real weird state of affairs and
they're they're more desperate the
smarter people have left more and more
right like if you're in media right now
if you're in traditional media you are
the dumbest of the dumb because
everybody has left that could go get a
better job that industry has been dying
for two decades now just falling apart
who stays in that it's not the smartest
people it's not the you know people that
have other options so you have that
really intense dynamic happening at the
same time you have social media
happening and you have a real intense
pressure from politicians on social
media like those two things are
objectively true nobody questions them
and they fully explain any panic right
any any any reasonable like issue the
coronavirus is perfect for this because
it lends itself so well to panic in the
sense that especially on social media
but also you know I'm going to put this
at the feet of public schools too
there's not a lot of people that are
very intelligent critical thinking we've
been indoctrinated and not educated so
if somebody tells you hey a thousand
people got a virus and 500 of them died
99 percent of people are going to freak
go it kills 50% of the people it's gonna
be a small percentage of kids that were
homeschooled or had better parents that
are gonna go I know this trick
what was the sample size what was the
sample population right and that's not
going to be very many of us so and the
answer is the sample population was
people that fell over in front of the
hospital right so you could have a
hundred thousand people that have the
virus but you're only looking at a
thousand people and half of them die do
you think it's that it kills half the
people right so it's pretty well set up
to its it's good enough of a scary event
to completely take off in the face of
social media and stupid media so I think
that's the only real cause here and
again another reason is scary is that
you can't see it that definitely it
could be everywhere and I mean that
that's just a natural fear of people
people you know when you can't see these
the enemy it's it's a bit scarier now I
I wanna you know we're talk about social
media we're talking a little bit about
Bitcoin yeah you're you check your
Twitter feed and everything you you've
seen people who are in the Bitcoin
begging for a shutdown of the economy
have you been disappointed by some
people out there you know actually I
think I think I have been more
disappointed by people in general like
that's why I'm moving right there I
clearly had a higher expectation of
their behavior and I'm not like I'm not
like heartbroken disappointed I'm like
oh that's interesting
yeah I'm moving but as far as like
people in like social media like I think
Peter McCormick is I think he's a good
guy and I think a lot of people are
focused on him I think he he tries to I
think there's two things going on I
think he is sort of an average Joe but I
also think that he kind of tries to
mirror his audience a little bit and I
so he tweeted out something that was
along the lines of I'm a full on status
train now you get you you crazy and caps
can worry about you know things after we
survive this which is you know it's
typical like let's just run to Daddy but
it's not like I didn't know that a lot
of these people think that the
government solves problems right they
really do think central planning
they haven't read Mises they haven't
read Rothbart they haven't read I don't
want to say Hayek I hate high ACT for
the record I'm trying to think of
Hoppa they haven't read these guys and
so they don't actually know that
government doesn't solve problems so it
doesn't totally shocked me that they
would run to government when it happens
but but I think the I mean my main
response to him is like look I I get
that I get that you're scared right now
and that you think that this is a good
idea but it's it's not a good idea and
the only reason in a lot of these
situations that I can keep my head and
say it's not a good idea to do these
things that are unethical is I believe
that God exists if I didn't believe God
existed it would be a lot harder for me
right so I'm very sympathetic like maybe
you you can say like I'm crazy for
believing God exists all I'm saying is I
have an excuse for being more
level-headed here and maybe it's because
I'm superstitious right I'm not trying
to have that to be right now what I'm
saying is I believe God exists and I
believe that he punishes people that
violate ethics even if they think that
it's gonna have a good outcome so it's
pretty easy for me in a way to go hey
you know I'm not going to I'm not gonna
sign off on taking my neighbor's rights
or forcing my neighbor essentially at
proxy gunpoint
to stay in Ed's house because I think
God will get me if I do that so you know
I got to give people a lot of people a
big pass on that because it's easier for
me with that baseline assumption that
God exists to to avoid you know power
grabs that might otherwise seem very
rational Wow
found that like button if you didn't
know that JW believed in God I didn't I
had no idea no idea we're learning stuff
here on the show today I did not know
that very very interesting but that's
for that's for another show obviously
uh-uh okay one thing I wanted to point
out has society become more feminine
number time I just saw some questionable
look at you look at you is asking that
question while you're using your hand in
a way that would probably get you
punched in the face
indeed we're all guilty of it like that
I mean that's that's let's let's talk
about that aspect of the panic it does
seem like there's there's a lot of
ladies out there that want they want
someone to stand up now to all this
they're very scared and they're running
and I think individually a guy should be
providing that stability to their ladies
but it seems like they're looking at the
government for that stability totally
totally yeah that was I was I was a
cheap shot man we've all been in a
feminized over the last couple decades
none of us have been working in the coal
mines I promise you if you ran into me
on the street in San Francisco I'm not
wearing the fancy pants but I'm not
standing out in the crowd
either it's a very comfortable society
I'm a pretty looking man I mean it's a
beautiful it's great to be alive but on
beyond the superficial femininity stuff
that we're all guilty yeah I'm let's
talk about the let's talk about the
incident the mentality and there's
nothing wrong with being a lady or
anything like that but during these
times where's a lot of people really
default to this helplessness damn we're
all damsels in distress no we're not all
damsels in distress dudes we could be
pretty looking or whatever but we're not
we're not we're not damsels in distress
it just it seems like that's we everyone
wants to be a victim that's what's cool
this day to be that way and ya know
there's no question that statism does
breed that right so one of the ways that
this plays out this might get me in
trouble with that what's the audience a
little bit is if you're looking at
you're looking at the Chinese right so
there's this video that Twitter hasn't
limited this because it's popular right
and I don't believe that employees at
Twitter do hate Chinese people
I think they they're they would have a
tendency to be less racist probably than
than other demographics right or at
least try very hard not to be
but there's this video that that's very
popular of this Asian woman that she's
like obviously a Chinese woman in her
like 60s and she's trimming the hedges I
don't know if you've seen this and she
finds his little bird's nest and she
picks up the bird's nest and it's cute
and there's these little baby birds in
there and she starts eating them like
they're chicken wings I don't know just
raw right there just crunch them down
and then puts the bird's nest back James
something tweeted it out and an actor
and I'll dig it up for you later and she
goes back to trimming the hedges right
and the problem with that is that that
it's it's feeding in this like it's
dehumanizing the Chinese right like
we're scared of them they're dirty they
eat baby birds you know all the sort of
stuff and it doesn't have the context of
a billion people just got pulled out of
poverty a billion people didn't even
have the concept of toilet paper a
generation ago like it takes time for
these people to become a little bit more
sophisticated and not be in a position
where their bellies are pissing them off
all the time like I don't know what
that's like but I know that most of
humanity throughout history has known
hunger all the freaking time right so we
got to put that in context and cut these
some people some slack and the other
pushback that I have towards that like
just hating the other is we're not so
hot ourselves right like the Chinese
don't have a ton of sexual partners for
example the amount of like degeneracy
you know orgies and that sort of stuff
that's very common in San Francisco
that's not common over there and I don't
know if you guys are aware of this but
there's a lot of diseases that can be
spread when you're you know drinking
beer out of somebody's butthole right so
let's not get too too pissed off at
people for for their their culture and
the way that it is because ours isn't so
hot either
and we just need to give people a little
bit of a break before we end up causing
this panic to become something that
could turn into you know something
really bad like a conflict or worse than
bar goos or starving somebody here yeah
I agree this is not the time for
scapegoating a lot of people are like
who who should we blame
for this you guys it's long past neck
let's take personal responsibility let's
as individuals attack the situation as
it is right in front of our face right
now I I don't care where it started if
it was in a lab if it was for eating a
bat or whatever and who ate that back it
day that past a long time that's just
noise at this point let's see there is
it there's a new sickness around the
United States how as individuals are we
gonna deal with it and how can we remain
productive and how aren't we
let's like into a panic so I am by China
and all there's a lot of people like cut
off all trade with China now I mean that
might not be very that's very
reactionary dude I mean you still want
products I mean they make products that
are useful it's not all cheap nonsense
so like don't don't again the solution
shouldn't be worse than the the actual
problem but you can't continue sorry no
no I mean you bring up a good point like
the one of the things that people can do
that's really actionable is they can
learn how economics works and this is a
good time I mean one of the things that
I'm trying to do is is which is not not
easy when I'm when nobody's seeing my
tweets is help people understand the
effects of price controls because the
only reason that there's a shortage of
masks is we have price controls right
now and nobody's talking about this it
is illegal to charge more than let's say
five dollars probably you can't even
charge five dollars for a mask if you
put in price controls that means that
people that could otherwise produce that
product for a higher price will not
produce that product and I guarantee you
if you want a mask right now and you're
willing to pay $100 for it and there's a
lot of folks out there doing that the
normal effect of this would be that
people that have access to factories or
even just sewing machines and the right
equipment would be working around the
clock to make these masks and get them
shipped out and get into your hands
that's what high prices do they
incentivize people to solve your problem
and what happens when that happens is if
somebody sells a mask for a hundred
bucks or they sell a truckload of masks
for $100 other people hear about that
and what do those people do they go to
Ching and so the price ends up dropping
and that is the fastest way to get the
price to come down is to allow people
that are willing to do the work right
freaking now and get their hands
creatively on whatever the supplies are
to put together the product and get it
in your hands that you're willing to pay
for so if if people well out of this
crisis start to understand those real
basic economic realities I think that
can that can help a lot during the next
crisis so you're asking for a lot right
there for people to be able to learn
from this instead of being emotional
from this because when what you said was
make total sense it is there's no
emotion in its facts not fricking
feelings but its feelings that has been
driving this entire thing when you say
something like you just said P if you
said it on social media you will be
attacked as being heartless and that
that seems to be the the way of the day
just let emotion overwhelm you and it
becomes so overwhelming that people lose
track of what is logic and reason and
this is the beauty of Bitcoin that I'm
gonna tie it all together baby
there is no Bitcoin the having is
happening is pure money is is it's not
emotion if you don't like it then don't
be in it okay but no what we're there's
a lot of people that are trying to take
this situation try to take the emotion
out of the situation but it seems like
own social media at least it's it's all
about emotion it is not about logic and
you're a cruel heartless person if you
suggest that you know if you even if you
don't call something price-gouging if
you know I mean there's there's all
these labels out there these very
emotional emotionally charged labels
that are being used and people need to
get past that and just like hey how can
we really solve this let the let the
market take its a let the market be but
that that's again we're in a statist
type of world NER where interference is
the you know the government interference
is the way of life so oh so here's
here's a more positive take on some of
this stuff part of what's half
here is our part of the reason that this
this statism isn't a good idea is that
it kind of is like this fake family
right where none'll Trump is now
everybody's daddy that's why people
either love him or hate him
he's gay why do you're a bad daddy he
can't just be some politician that
doesn't really affect my life very much
so you have you have this weird pseudo
family structure and that does cause
weird sort of behavior like the
feminization that you're talking about
and things like that
so one of the things that China has
going for it in other countries have
going for them is yeah they might still
eat a raw baby bird but they still have
that family structure in place and yes
you know a lot of these people from the
country are moving into the cities and
they're getting indoctrinated not as
effectively as you might think in a lot
of cases though China gets a lot of
credit for stuff that they don't
actually execute on very well so
there-there is like there's a lot that
let's say third world cultures have to
offer us and bring us back to some
sanity and as there's things that get
taken out of the states control right
hopefully Bitcoin removes money from the
states control as far as communication
goes social medias actually made a ton
of progress in removing power from the
state it's not I mean it's still a
nightmare right but it's far better than
the five channels that we had before and
we just got spoon-fed everything you
know 50 years ago so that's that's
getting slowly taken out of the state's
control and that will allow the family
unit to like thrive again right there
will be natural relationships where
instead of looking to Donald Trump to
provide for me in the check people will
be looking to Grandpa that's been
working for you know the last 60 years
of his life and he has some money saved
up and he's going to take care of the
family or and you know grandma that you
know maybe grandpa's dead but we still
have you know people in our family that
have earned their position of having
savings and providing for for the family
unit and a lot of those natural
relationships will rewrite when when you
have a family you have a tendency you
know the big strong guy in the family
right tends to be somebody that people
look to and
get comfort for or from when there are
threats around right so eventually that
won't be Donald Trump that will be your
actual dad and that will be great
so I think we're headed in that
direction and I think there's probably a
lot of third world countries that are
gonna be fortunate because they're gonna
skip this weirdness they're gonna skip
the whole degenerate sexual revolution
stuff that started when we were kids and
has continued on and just gotten you
know all the way through and transgender
kids and all this weirdness they're just
gonna go from you know a world where
they had a family and they were poor to
a world where they still have a family
and they're not as poor all right that's
coming from a dad right there yes there
are still dads out there pound that like
buttons but great points about how
people see that the president as their
daddy now and they want some people want
a new daddy and some people like this
daddy and okay now I actually that I
forgot to bring up but uh again speaking
about Twitter uh Twitter issues what's
trending on Twitter right now not dying
for Wall Street is a hashtag and I just
want to point out the ignorance of that
that people think it's a choice between
shutting the whole economy down and and
dying I mean dude if this is not for
Wall Street it's shutting the whole
economy down hurts the you know local
business owner much more so than it
hurts the guys on Wall Street okay
they're rich they'll be fine okay
they're gonna be fine the world is shut
down for they're gonna do great in fact
they're the ones that are gonna know
beforehand when the numbers are gonna
come in positive right so the guys on
Wall Street they are making a killing
this is a I mean this is a massive
wealth transfer from people on the
inside that know what the CDC is gonna
say before they say it to everybody else
that know what the feds gonna do before
everybody else those guys are not doing
bad at all because they know when to
short the market they know when to long
the market nobody else knows that she's
gonna be a massive wealth transfer from
people with 401ks to hedge fund managers
and inside politicians what
JW is saying right now everyone needs to
keeping that in mind you stick with your
system during this time okay because
you're not you don't have the inside of
information that those dudes have don't
panic sell your stuff now okay because
those dudes are the dudes that are gonna
get okay
they have an advantage in this game over
you so just keep doing what you're doing
people especially the Bitcoin people out
there this is this is not a time to
change your system at all but uh you
can't make short-term investments if
you're making short-term investments you
know an altcoin should have taught us
all this right
Vitalik knows when he's going to say
something positive and when he's gonna
say something negative you think you're
gonna out trade vitalik you're an idiot
it's the same thing with Federal Reserve
don't play the short-term trading game
buy things that solve problems that are
valuable and hold them for at least 5
years and don't do anything else but so
I could go into Twitter and social media
just look at the mindlessness of all
this people are basically saying no if
we well I'm scared I'm gonna die so we
need to keep every everything needs to
be shut down now and you only won't
wanna get things going again because you
want to make Wall Street people rich and
that's just that's just not the date
here so they bought into this narrative
so much it is it's unbelievable there
are worse they've bought into the
narrative like here's some good news
some good news is that we don't know
what's trending right now because all
these algorithms are manipulating what's
actually trending for all we know and I
think this is more likely if you just go
to the grocery store and chat with
people which is real more direct data
it's very likely that the fear is fading
at this point that's very likely people
are starting to get more concerned about
their bank account balance than they are
about this virus that may or may not be
an issue and they're you know I'm part
of it is the mob is stupid right so if
we just think of everybody is stupid I'm
not saying everybody is stupid
but it's a good it's a good way to think
of it stupid people overreact constantly
so yes they were overreacting just
because that that tag is trending it's
as likely to me that
it's being manipulated to trend right
and so I don't I don't really see that
as terribly bad news but the sentiment
is out there and I think part of the
reason for that is that there are enough
people that they don't they don't know
enough about economics to know what it
is when we're talking about the economy
and what we're talking about we're
talking about the economy as all of us
solving little problems to not die I
solve this problem I give you the
results you solve that problem you give
me the results if we all stop doing that
we all die so we do need to get back to
work we do need to return to solving
problems and and I think we're going to
write I think we'll be back there within
a week or two because you know trying to
keep a bunch of Americans in their house
you can do that for a little while but
it gets really dicey to be a politician
and do that for too long let's hope for
the silent bit that the silent majority
really does exist and hopefully more
work in that speak up like a JW and I
are even though we might be throttled by
search certain uh social media platforms
and just to show you the how much list
things are and and some people are going
to think this is like almost like a
conspiracy like it's too good to be true
activist Greta Thornburg says it's
extremely likely she and her dad have
the virus now or something
so then that's that come on I mean yeah
it's disgusting these I mean one of the
things that this does reveal is just how
pathetic
all these people are like you know the
when you see that guy walk by the
newscaster and he's pretending to be
blown around you're just like what an
idiot and the answer to that like why is
that guy that pathetic it's because he
sucks he sucks at life he became a
newscaster he thought he was going to be
on the nightly news on ABC he's standing
out you know at a storm surge and
nothing's happening and he's so
desperate to get out of that $25,000 a
year job into the $40,000 a year job if
you can somehow pull off an Emmy or
whatever stupid award thing yet by being
dramatic right I mean these people are
just pathetic
and like Greta Thornburg all these
people that have come out and said I
have the virus like we first of all we
all know that we can't get tested why
can they get tested right and we all
know that when they say I might have the
virus it means absolutely nothing
because the difference between the
symptoms of a flu and the symptoms of a
cold in a heart may be the vast majority
but let's say a significant percentage
at least of people are indistinguishable
so yes that's pathetic
it is absolutely just you're a loser
pathetic I will say this I I think we're
gonna learn at the end you know maybe by
2021 we're gonna look back on this and I
think more people because there is no
testing or whatever we're gonna find out
there's so many you and I might have
already had I think I'm not the rate of
infection is gonna be much higher
earlier on than we thought it was which
which is gonna make a difference in the
long run here I do I do hope that many
more people were infected with it and
just don't know it that because most
people who get it don't even know that
they got it and they're there there's
all sorts of semi evidence out there
that it dis dis disease might have been
here earlier and if it was here earlier
then more people already had it more
people are immune to it and it's just
not gonna spread as much so we'll see we
and so but but instead people just panic
and say no no it's the worst is yet to
come
it kills 5% of people it says all these
complete misuse of numbers it's it's
sickening so any any of final thoughts
before we get out of here anything you
wanted to add about Bitcoin economics
virus panic life in general it's been
great to have y'all yeah man I think
I'll just I want to hit you guys with a
couple facts that might be soothing
because I know most people are still
freaking out about the virus one is that
99% of the Italians that died had
pre-existing conditions another is that
the narrative that they're pushing right
now about you know 40% of people that
are in serious condition under the age
of 50 or whatever that's almost
certainly bullshit because they all have
pre-existing conditions right so yes
there there
a lot of younger people that are that
are in serious condition I am highly
convinced that they all are dying of
leukemia before they got the virus and
part of the reason for that is that the
story that they led with when they
shifted this narrative you can still go
find it it was the headlining story of
New York Times
it was either yesterday morning or the
day before that was all about a young
man
Tom woods tweeted this ad actually all
about a young man that is dying was the
first big story about a young person in
the u.s. dying and if you if you dig
down you'll find out he was literally
dying of leukemia before this happened
so I think they're pretty good at
finding ways to terrorize us if that's
the best they've got take some comfort
that it's probably BS yeah there's it's
sometimes you just have to deep down
into the story I mean it's the
information is out there somebody has
testicular cancer that got say they're
not a hundred percent healthy youth but
you're absolutely right that's the big
narrative right now is the young can die
to the young and you said 99% of people
in Italy I think it's I think it's even
higher than that I think it's like 99.5
percent of people in Italy have
pre-existing conditions and people if
you were a vapor or a smoker
that's stuff that's a pre-existing
condition too by the way I mean that
that's a yeah I mean you made that
choice back in the day if you were
messing with your lungs well then
something comes along and affects your
lungs yeah you're you're more at risk I
mean that's just yeah but I think it's
really way worse than that like I think
I don't think let me put it this way I
know that the media's job is to
terrorize us whether it's true or not
and I think that if you were a smoker
and you had a significant chance of
otherwise being healthy getting this
thing and dying and I mean statistically
significant I think we would all know
that because they are very good at
grabbing facts when they suit them and
providing them so I really don't think
that it's even that dangerous based on
that sort of you know maybe that hearest
it kills me someday but it's been pretty
reliable up to this point and I can tell
you that the big news media thing they
were pushing this morning was 40% of
people under the age or
some of the people that are it was
actually 20 to 40% which is a huge range
of people between the ages of like 40
and 60 are in serious condition right
something like that but and they
immediately followed that up with but we
don't know how many of them had serious
pre-existing conditions it's not hard to
get that data they know or they
intentionally didn't find out because
they knew that that would cause maximum
terror yeah it would be now I said this
early on it would be nice just to have a
spreadsheet a simple spreadsheet that
normal people can read that lists all
the ages list all the pre-existing
conditions list people sex their race
their location and let everybody judge
on their own that if they fit what risk
profile they they uh they fit but no
people don't want to do that there's no
personal responsibility these days
just let the the the media tell you
what's really going on or the government
to tell you what's really going on and I
do want to say to you what's the latest
narrative uh the means something else
that's going on is that the the media
because they're politicizing this too
and if this thing was so darn serious
they want to be politicizing I mean if
it was the end of the world type of
thing you want to be trying to figure
out ways to vilify the president's
something like something that came out
this morning was that some old people
drank aquarium cleaner because they
thought it had the the anti malarial in
it that would cure them and thus that
was the President of the United States
his fault they drank the aquarium
cleaner they killed them because he
brought off the anti malarial that might
be a cure to all this I mean it's just
amazing that they because daddy said it
it's no take personal stuff ya know your
that's that's exactly the right way to
look at this stuff I think that's the
way I've been able to parse it in
previous you know fake tragedies is you
look at something like that and you're
like alright the best that this group of
people that are spending millions of
dollars per hour to find as much
information as possible to make it look
like whether you like Trump or not
millions of dollars per hour
spent making trunk look like a jackass
right so if the best that they can come
up with is some some people drank this
thing and killed themselves it's clearly
a tragedy that then it sucks if that
happen
he obviously like then they're not
finding much to scare us right that's
the most that's the best that they can
do so I think I think that's the only
way you can parse these people you know
they're liars you know what their motive
is and you just gotta go well if that's
the best they can come up with this will
be a good day very good people I think
that's a good way to end the JW thank
you for for your time today man stay
stay strong out there keep up follow
he's linked to below people pound that
like button please follow him on Twitter
and that means like just check out his
Twitter feed every day treat it treated
like a blog that's how I treat people's
Twitter feeds I don't I don't sit there
and let Twitter show me what's you know
I don't look at my feed that Twitter
makes up I actually go to people's
Twitter feeds and and just treat it like
blogs every day every day it's not you
know it doesn't take that much time
people don't be lazy you know be
proactive but thanks again JW i am adam
meister the bitcoinmeister the disrupt
meister you get a new show here every
day so keep coming back here because
youtube is it reminded people that much
anymore oh well I mean I'm stoked my
podcast is doing better than this almost
unbelievable but some of you are
listening to this right now on podcast
anyway follow me on Twitter at Echo tch
be alt everybody have a great day found
out like bun bang the bell button see
you to morrow
I'm pushing stop live stream
