[00:00:08] This is The Kate Dalley Show.
[00:00:11] All right, welcome back.
[00:00:21] And of course, so much to talk about with Mel.
[00:00:25] We're going to talk about the Bitcoin conference.
[00:00:27] And let me say, I hear a lot of messages about being calm and not angry and how to manage our behavior.
[00:00:34] You know, we wouldn't be trying to manage behavior if people were just told the truth.
[00:00:40] The truth helps that.
[00:00:43] Not techniques to be calm, but the actual truth.
[00:00:46] And people are realizing more and more that they're not being told the truth.
[00:00:49] And this is why people are angry.
[00:00:51] And so we never go to the cause.
[00:00:53] It's cause blindness.
[00:00:54] We never go to the cause.
[00:00:55] It's just, I keep hearing it over and over again in PSAs.
[00:00:59] And it's just very, very frustrating.
[00:01:01] And I'm getting angry at the non-truth that's being told all throughout the United States every single day.
[00:01:06] So the brainwashing, you know, is real.
[00:01:09] Mel Madison is with us from melmadison.com.
[00:01:12] And of course, the book was.
[00:01:13] And talk to us, please, Mel, about the Bitcoin conference, because this was a bigger deal than people think it was.
[00:01:21] Yes.
[00:01:22] So every year, basically what people call themselves Bitcoiners, people that believe Bitcoin is a solution to a lot of society's problems.
[00:01:32] They get together.
[00:01:33] They have a big conference.
[00:01:34] The first one was in San Francisco five, six years ago.
[00:01:37] They've had some in Miami.
[00:01:38] This year, they had it in Nashville, Tennessee.
[00:01:41] And typically, these are kind of esoteric type conferences.
[00:01:46] Not a lot of important people show up.
[00:01:48] This year, I mean, a lot of important people showed up.
[00:01:52] So we had Donald Trump show up.
[00:01:54] He was the keynote speaker.
[00:01:57] RFK Jr. showed up.
[00:01:58] He spoke at length.
[00:02:02] Vivek Ramaswamy.
[00:02:03] We had at least a half a dozen U.S. senators.
[00:02:06] We had governors.
[00:02:08] So we had major political players show up.
[00:02:11] And beyond just giving like rally type speeches, they all announced what they wanted to do with Bitcoin, creating a strategic reserve of Bitcoin, ordering the Federal Reserve to buy Bitcoin.
[00:02:25] And so this was a pretty big shift in the political landscape surrounding cryptocurrency.
[00:02:31] Okay.
[00:02:32] What struck you from the speeches and what happened?
[00:02:36] Well, so people understand that Bitcoin is hard capped at 21 million Bitcoin ever.
[00:02:41] So it will never be more than 21 million Bitcoin.
[00:02:44] Part of RFK came out.
[00:02:46] He said he wanted to authorize the United States, if elected president, to buy 4 million Bitcoin, which would be approximately 20% of all Bitcoin.
[00:02:58] Donald Trump came out and he said that the U.S. currently holds around 1% or 210,000 Bitcoin that it seized.
[00:03:07] That on day one, he would issue an executive order stating the U.S. would never sell those Bitcoin and would use it as the core of a new Bitcoin strategic reserve.
[00:03:20] He also said on day one, he would fire Gary Gensler, the head of the Securities Exchange Commission, and insert a new head of the SEC who, quote, loves crypto.
[00:03:32] And then he was followed by a speech by Senator Loomis, a Republican from Wyoming, who said that she's going to introduce a bill that would mandate the Federal Reserve by 1 million Bitcoin or about 5% of all Bitcoin.
[00:03:48] And that the United States would now begin to hold a strategic Bitcoin reserve.
[00:03:53] So these were all big changes from what any politician has ever said before.
[00:03:58] And Kamala Harris, who has been against Bitcoin generally, as most Democrats have, all the rumors from her campaign are that they're now reformulating their crypto Bitcoin strategy and they're going to come out and they're going to start to be for Bitcoin.
[00:04:14] So we're seeing these major financial shifts, again, coinciding with the Trump assassination attempt.
[00:04:22] OK, I do want to ask your takeaway.
[00:04:25] But for some reason, it reminds me of a conversation I had with a friend.
[00:04:29] They were doing the fake football thing.
[00:04:30] And so I'm like, oh, hey, congrats on your fake win, fake high five, you know, fake.
[00:04:36] Is that is Bitcoin not the same thing?
[00:04:39] I mean, it's just on belief. Right.
[00:04:41] So when we say we're going to authorize America to get four million more Bitcoin.
[00:04:45] I mean, why am I why am I reminiscing over the fake football leagues?
[00:04:51] I mean, what's your take?
[00:04:53] I don't.
[00:04:54] Well, I think it goes back to kind of some of the things we talked about before, which is I think that it's two points.
[00:05:00] I think Trump does not want to lose.
[00:05:02] OK.
[00:05:03] And I think he's willing to partner in at least superficial ways with whatever he needs to partner with to make sure that he wins this election.
[00:05:14] And if that means picking J.D. Vance and then getting millions from Elon Musk, if that means talking Bitcoin to the crypto crowd,
[00:05:23] he's not going to let himself lose this election because Zuckerberg and Soros and a bunch of billionaires tip the scales.
[00:05:32] And then what we have to wait and see is what happens once he's in office, because it's obviously easy.
[00:05:38] And one thing I will note is he did not promise the million Bitcoin strategic reserve, but he was followed by Senator Loomis.
[00:05:46] So he said that the U.S. would not sell their current Bitcoin holdings, but he didn't go as far as Senators Loomis or RFK Jr.
[00:05:55] So he's not making these ironclad promises of we're going to start buying Bitcoin.
[00:06:00] Well, I was talking about JFK Jr.
[00:06:02] I mean, it was just kind of an odd thing.
[00:06:04] It just struck me as odd because it's kind of the fake high five on the fake.
[00:06:07] Anyway, it's Bitcoin.
[00:06:09] So I mean, it's kind of a belief that it's there.
[00:06:12] Right.
[00:06:12] It's all the same with our currency.
[00:06:14] It's all built on belief of value.
[00:06:18] Yeah, it's all built on belief.
[00:06:20] And they have the main concern I've always had with Bitcoin that I've always expressed is that I believe that the price could go up.
[00:06:27] But that the problem with it is we just don't know how this game is going to end.
[00:06:32] We don't have 2000 years of history, 3000 years of history as a monetary instrument the way we do with gold and silver.
[00:06:39] Right.
[00:06:40] And we don't even know who created Bitcoin.
[00:06:42] And so to start talking about Bitcoin as if we know for a fact that it's going to be worth, you know, $200,000 of Bitcoin in three years, we just don't.
[00:06:53] And so that's why I would never advise somebody to put a very large amount of their wealth into Bitcoin because you just have no idea what's going to happen.
[00:07:00] But they do know digital tyranny is coming.
[00:07:03] And so that's why I'm listening to these promises and wondering how that plays into all the digital control coming.
[00:07:09] Uncle Miltie?
[00:07:10] And yet, look how important it's playing right now in politics.
[00:07:15] Yeah.
[00:07:16] Yeah.
[00:07:17] Because why?
[00:07:18] Because they're upping the ante for the validity of all of it to move people in this direction because they're going in the direction of major digital tyranny.
[00:07:27] They want people just completely bought in.
[00:07:30] I don't know.
[00:07:31] You tell me.
[00:07:32] What do you think, Mel?
[00:07:33] Well, one other thing I'd add is that Trump did talk about central bank digital currencies during his speech.
[00:07:40] And he stated, again, another day one promise that he would issue an executive order for anyone in the government that's working on CBDCs to immediately assist and desist any efforts and to shut down any plan to do that.
[00:07:56] That's good.
[00:07:57] So this was a clear move away from central bank digital currencies.
[00:08:00] But it was also an embrace of Bitcoin.
[00:08:04] And as I've talked before about their embrace of stable coins, but then when you read the stable coin bill, they want all the underlying assets to be held at Federal Reserve depository institutions.
[00:08:16] What you have to wonder is, are they seeing a way to incorporate Bitcoin, stable coins into the United States monetary system and then use those as kind of mechanisms or levers of control?
[00:08:29] So do we have the deep economic state saying, hey, we're not going to push the CBDC, but what we're going to do is we're going to push the Bitcoin.
[00:08:38] We're going to push the stable coin.
[00:08:40] And then behind the scenes, we're going to get the same data, the same information, the same control.
[00:08:45] It's just going to be in the guise of a privately issued stable coin or Bitcoin.
[00:08:50] But all utilized by the Federal Reserve.
[00:08:53] Exactly.
[00:08:54] And stick it in that pocket.
[00:08:55] OK.
[00:08:55] OK.
[00:08:56] And then in the I think at some point in the mode of transparency, and I do that in air quotes because it will be completely not true, is get rid of the Federal Reserve and have the U.S. Treasury have it all at some point.
[00:09:10] Because they have to promise something to get people behind the digital tyranny, not questioning it and embracing it, which is a whole different level.
[00:09:20] Right. Not just putting it in, but embracing it.
[00:09:23] And it will be for the motive under the guise of, I should say, transparency for all.
[00:09:29] See, we're finally going to get rid of the criminals.
[00:09:31] We're finally going to institute honesty.
[00:09:33] But it will be the most dishonest and the most control I think we've ever had in our lives.
[00:09:38] So I think that's definitely coming.
[00:09:40] But that's just me.
[00:09:41] That's just that's just Kate.
[00:09:43] That's just Kate theory.
[00:09:44] Be right back with Mel.
[00:09:46] Isn't he great?
[00:09:47] Mel Madison dot com.
[00:09:48] Be right back with Uncle Melty, too.
[00:09:50] Isn't he great?
[00:09:51] Oh, he wants to hear that.
[00:09:53] Be right back.