 Hello everybody, welcome to the Thursday live stream. So a lot of things to go over. So let's just jump right in First of all, I want to remind everybody that today we did the NFA live show. It was a great lineup as usual Ben it was hosted over on his channel and we had Jessica from Coin Bureau And I got to tell you towards the end when we start talking about the altcoins and then Ben gets super excited I'm just kidding to get that excited. But some of Jessica's picks for altcoins were pretty eye-opening So I linked that in the description. You can check that out We go over a lot of things and it's I dare to say quite a bullish video So you can check that out at your leisure, but today what we're here for is this which is just crazy It's just craziness because I didn't think this would happen I didn't know how this came about and I'm kind of flabbergasted right now as you can tell I'm trying to find the words But this is from Bitcoin magazine Elizabeth Warren one of the staunchest detractors of crypto who Just recently came out for her her campaign to say that she's any having an anti-crypto army Comes out and signs a certificate to honor This doesn't make any sense to honor Bitcoin creators. So she knocked him on with a ceremonial flag flying Americans are forever grateful and this was broken by Bitcoin and at first I was thinking myself is It's not the first of April. This is this is real, right? and it just But apparently it is and this was a piece that was put out by a Bitcoin magazine I'll read it, but I'm gonna start from the from the end of the article and move upward I'll tell you why in a second because one of their their their points that they made is that and I said this before and we talked About the Bitcoin ETF being approved and you know, how how big it actually is it doesn't really matter You know inflows and outflows even though we've got seven to 14x demand You know coming in from from the spot ETF as opposed to the actual amount that's actually being produced every day Which is 900 Bitcoin per day It's I'd said it didn't matter I still don't think it matters to a massive extent It was the narrative the narrative was is that traditional finances here and actually says that you know what this is its own asset class so take that as you as you will but This is what the article states now that US regulatory agencies such as the SEC Have allowed the approval of 11 spot Bitcoin ETFs including Fidelity FTC and of course I shares which would be BlackRock Warren has changed her tone Recognizing the immense economic freedom Brought about by such a novel technology and now joins a growing a growing group of elected officials Throwing their name behind Nakamoto's protocol. I I read this and I'm like, I mean it makes sense I mean, I think I you know what we're coming from here, but Again, it's just from someone who was you know, so anti Bitcoin and you know talks about how of course it is Used for massive illicit activity. I just found it very interesting of the pivot already so Let's just break into the article and we'll kind of break this down from there. So starting at the beginning Now this is of course Turn of events Elizabeth Warren wants an adversary says yes We're going to celebrate 15 years since the network launched and here is the official doc And out of Satoshi Nakamoto with a bit the anniversary of Bitcoin the first truly inclusive financial system that is providing new economic freedoms to populations previously ignored by both public and private institutions Americans are forever grateful Signed by Elizabeth Warren Crazy So this is in participation of the capital flag program senator Warren's office submitted a request to commemorate Nakamoto's Accomplishment of creating the first truly inclusive energy system with the cause of the US flag being flooded on the capital Her career-long rhetoric about fighting for the net financially underserved has finally taken shape with this tangible statement And I remember, you know listening to Elizabeth Warren That was what she ran on essentially was going against the bank because I just found it very odd that she Would cite against Bitcoin and all of a sudden Jamie Diamond was like her best friend. It was just like a crazy day Thomas Tomas Paxia now that co-founder pub key said this is a historic moment for how politicians in Washington be the promise and Inclusive via the Bitcoin protocol what politicians do is much more important than what they say I suppose Only one week before Warren ordered the flag down the flag flown remember this She introduced legislation to give the Treasury more tools to restrict the criminal usage of Bitcoin Making bold comments that they need new laws to crack down on crypto's use and enabling terrorist groups rogue nations drug lords ransomware gangs and fraudsters to launder billions and stolen funds evade sanctions fund illegal weapons and Profit from devastating cyber attacks creating an anti-crypto army in March of last year for her bid for reelection So again, it is quite of odd To say this two weeks ago than to totally pivot and go, you know, we should celebrate this technology It makes no sense Anyhow, let me know what you think about that in the comment section because I'm befuddled about what's happening in the background I don't get it unless Someone's got some great information. Anyhow on that note, I'd also like to I always like to share these little discrepancies or when when people bring up bring up points Against Bitcoin because it's the things that we all need to talk about because as we move into mass adoption People are gonna have questions for you Look if you haven't gotten the text messages or the talks from people who you would never have thought are getting into crypto Bitcoin essentially you're gonna start hearing more about that as we Accelerate towards the Bitcoin having and one of those things they're gonna say is and of course, there's many things are gonna say You know, do we really need this? Is this something that's actually legit sent Elizabeth Warren is crazy because she's she said two different things But one of those this was from Peter Zion and we've played this this clip over and over again And the reason why I like to do this is because you know when you get these these objections I think it's important that you know the answer to them So you can kind of you know go from there and one of these objections that that Peter talked about is Of course, this was he was on Joe Rogan and this was back in I think November December because he was talking about how Bitcoin's price was 16,000 and he said it was going it was going to Below 17,000 or excuse me. It was 16,000 and it's going to zero which means it has 17,000 more to go So I know what he was talking about as far as math goes But you can listen to the clip I linked in the description one of these he talked about he said he goes There's no way that we can lubricate the economy with only 21 million because it's only 21 million Bitcoin in existence There's way more people in the world. How does that even work? That doesn't make any sense And of course, it's you know people that are getting Into the the evangelicals and it's just a dangerous situation I thought about that a lot and it's something that I have Massively dropped the ball on and one of those things that I dropped the ball on is And I think it's something we should all do is remind people that yes, even though it's 21 million You have to remember that for every Bitcoin There's a hundred million satoshis within that and to make that super simple people complicated I don't understand why but I said I said look just remind that this $1 is 100 pennies if my math is correct correct me in the comment section and one Bitcoin is a hundred million Satoshi that's pretty much what it's like and I if you take 21 million Bitcoin times a hundred million sats You get 2.1 quadrillion sats. That's a real work I didn't really know I didn't really realize that was a real word until we're taking a look at derivatives and how much is actually out There it's over one one quadrillion dollars worth So when we talk about people say well, there's not enough for the people out there It's only 21 million and you know there's actually actually people have actually lost Bitcoin and and these boating accidents and of course they've They've lost their their passphrases just remind them just go, you know, we've already my 19 and a half million We're gonna get 21 million at some point maybe 2140 But for the total amount is 2.1 quadrillion sats, there's plenty of that in the world So just a little something to throw out to people so you can also remind them They don't don't to pay, you know, $53,000 or whatever it is today. They can just buy $10 and get a number of sats I think it's something that I need to start doing a better job at anyhow. Let me just think about that piece and then also moving into from the bear market to the bull market I want to talk about The the things that are happening behind the scenes and all the the the difference Progress that different Accounts have made different products made and I always use this example because I feel that In the beginning, I mean a lot of the crypto market was just it's just hype and speculation And I give a prime example of helium and alluvium and both of those projects, you know Now they have like a working product. I just find it very odd But alluvium I just want to showcase this that yeah, it was over $1,800 on 2021 and of course, yeah, of course, you know We have so much as far as tokenomics and how much was actually gets released So yes, there was less there But I mean look went from almost 2,000 down to just over a hundred dollars For the token and it didn't have anything at all back then So I just wanted to highlight and say that from having nothing and this is from Jesus Martinez If you don't follow him and you're into web 3 and gaming He's one of the best out there. He really knows what's happening. This isn't just some some trail This is actual a gameplay footage From the game that you can play right now and they have four different types of games out there that In my personal humble opinion not being a big gamer looks Fantastic and it looks like something that people would want to play and then there's you know this piece And then there's stuff like this I mean these are the types of things that like when I look at games and people say one of the biggest knocks on web through games as they suck and They aren't playable and they're awful I'm hearing the exact opposite now that these web through games actually come to light and actually doing things So I like what I see. I think web 3 is gonna be a great narrative I could be wrong But let me know what you think in that and the comments and then to finish up Trueflation there was and we just talked about this a couple days ago February 13th Day before Valentine's Day CPI numbers came out and there's just been some wonky things that have have been As far as like the numbers go And I just some of these things just don't make sense So what I did was I had Stefan rust He is the founder of trueflation cuz I'm like you guys are way off Well, you guys are way off from the government numbers. I should say it like that you you're you're Your inflation rate is 1.42% And we're looking at CPI numbers of over two and it's you know, I mean it's coming down But not as much so I just wanted to bring him on and then just I did a quick interview It's about nine minutes or so. So just take a listen to this and Just to tell me what you kind of think about this because to me When I think about what's happening with the actual numbers it just some things just don't make sense and I think it really comes down to I think it really comes down to a presidential elections and then fudging the numbers, but man, I hope I'm wrong. So Just take a listen to this Let me pull this up the right way so you can hear it So again, what I want to do is bring somebody in who could really shed some light about what's going because I don't These numbers they seem kind of funny and I don't really get it So Stefan, thanks for coming back again to enlighten us about what's really going on. No, thank you Thank you for having me back excited to be back and always good talking to you Rob I really enjoy it. I think you're doing a great show educating and the more we educate people the better the better everybody's armed and researched To to know how to handle with whatever situations put in front of us Well, you know, what's great about that is is what we get research is we have to get, you know, accurate data First of all, so just to give everybody a little recap We had the headline CPI and course CPI come out and it's a bit Above of what was estimated from, you know, the different the powers that be and the economist and they said we'd be at 2.9 Now we're 3.1. Oh, they're gonna be at 3.7 3.9. So great and what happened? Of course, this was two days ago, you know today It's it's the 15th of February and we can see that there was a bit of a drop. No big deal S&P 500 they also took a drop Recovered quite nicely Bitcoin price just taking a look at it. Yes, it did they could do a dip But hey looking pretty good and then overall market itself and then we're over two trillion So I'm feeling pretty good about that But stuff and the the the thing about all this stuff is that, you know We see these numbers come out from the government and we believe them to be true we're not all of us but but then I take a look at the dashboard here at trueflation and It's saying something totally different. So run this down how this is working and what the real numbers are Yeah, no, I mean we we think our numbers are the real numbers and I'm biased, right? So take that with a grain of salt, but why do we think we're accurate? We track 18 million items we have three price feeds per item and You can see we have it in 12 categories Versus the six categories versus the 80,000 items that the government tracks And so we just have way more data. We pull it in a real-time basis. So we pull our, you know through using apis taking a developer approach to actually acquiring All of this data and then making it updated every single day getting it updated for everybody And and that seems to give us a number that people seem to believe is more an accurate reflection Of what they're experiencing when they go To the gas tank or the gas station or to the grocery store or wherever they may be going And paying for items Now you have up above by the way, if you go for an aggregated view in the top drop down You can go to aggregated view And then what we do there is highlight a three-year perspective in terms of over the last three years What and how will you have on this case one year? lost money right and so since the beginning You've lost 22 percent in purchasing power. So that's a quarter of your income. That's basically just out the window That and that's why with the pain is so big people are really experiencing pain pain And when yellen goes and says oh, we're better off than pre-covid pre-pandemic I don't know. I don't think the prices are going to come down than what they were before Yeah, I can see it and especially as we take a look at this this aggregate I do like this this piece because people will say well, you know, it's coming down Well, it's not really coming down. It's coming down from like these enormous highs that we had before I mean 24 percent. I mean like you said a quarter and then coming up and then now we're we're seeming to be doing a reversal So break this down real quick if we're taking a look here as like what Are the different numbers? That just didn't add up when you took a look at The data that came out of the government itself. Was there was there something that really struck out you like wait, that doesn't make any sense So we tried the government did a couple of things this this this month. Um, they changed the methodology On how they're calculating. We're still trying to understand what the exact changes were And how they changed it their argument is the weightings have changed the way people are spending That has changed. And so that's justification in terms of how they reallocate and change their weightings That may be true But what we found, you know, that really complex and confusing was the fact that gasoline prices for the month of january are down over 10 Compared to the same period last year, right? So they're down over 10. So if you go to transportation And you look at the gasoline number, uh, which is the light blue number there in transportation. You hit the light blue number And and and by the way transportation and you can go there to the last dip there at the end Yeah, there that is now that is between december and january End of january january 30th. So you can see that's a 10 decline in something that is about a Um, yeah 20 percent household expenditure goes towards transportation So people are spending money on transportation now the cost of transport You know filling up the gas filling up the car with gas has dropped 10 percent That has to have a significant impact overall on inflation The same is happening with owned dwellings owned dwellings have come down in pricing So housing you look at the owned dwellings Why is that come down because a lot of people haven't renewed their mortgage? From when they originally had them out 30 year old mortgages. Why would I renew it in a time where interest rates are higher? So nobody's renewing their mortgages and ultimately over the last course of three years I've paid down a lot of that outstanding amount So my interest and the amortization associated with my outstanding have come down as well And so again housing is some 23 percent of overall household spend And so you add those two up not to mention maybe food category clothing category They've all seen a big decline. So all of those combined should see actually a significant drop in actual inflation number for the month Instead the government seems to have some other number which is a bit funny and weird to take into account Do you think just by explaining that do you think that as we get closer to super tuesday because here in the states We're going to go through another presidential election Do you think as we get closer to that election? Those numbers that you're talking about will actually dramatically start to shift And you might see a lot of different things go. Oh, no, no This is what it really is and now we're doing a great job Look how great the economy is doing is you think that they can go in that direction or they can go in the opposite direction So of course, that's a conspiracy theory. How dare you think like that? Well, I'm just saying because the government is uh, it hasn't a great track record with us. We'll just say that Yeah, I mean, I I hate to think it but but I do feel I hate to say it but I do think that actually You know, that is definitely a high potential that that's likely to happen There's a lot of money locked into money market funds A tiny change in interest rates will unlock that liquidity. Where will that liquidity go? It'll go into the stock market. It will go into alternative asset classes And that's going to then help sway create a lot of wealth amongst people the middle class and guess who's the biggest Um, you know winner of middle class wealth growth. It's going to be the democratic party. That's their constituent, right? Well that and of course the people that are at the top because the people at the top they Yeah, they have the uh Castillon or castillon effect where essentially the money flows into the top and then gets to us at some point So yeah, that's so I think they they're by by high by keeping the inflation numbers slightly higher They are justifying how to push out The decrease in interest rates And so as a result, you know, they can then sort of make sure that hopefully it comes back And then ultimately drop the interest rates at some point in time to fix the economy around the summertime So maybe in june, they'll drop the interest rates And then the markets will start picking up when everybody comes back from the holiday boom november here What do I go and vote on i'm going to vote on the people that are keeping a good economy And by dynamics is is doing really well, right? It's really good for the economy and That leads me to Some of my last points, which would be this just by you saying that we take a look at the fOMC the target rate probabilities for the next meeting Before before uh, these numbers came out. We were looking at around a 40 60 split now We're looking at 90 percent people say no no no the target rate is 525 to 550 bips And we're going to stay there about 90 percent. You got still some people like no, they're going to cut They're not going to cut and then the first of may what do we got? 60 60 62 34 and then even so so but i don't think it's going to happen So like you just said well, if they don't do it there, maybe they could push it out to here To june. Yeah, and then june you can then see it's sort of slowly But they've got time and in 18th september. So as these numbers start to be jumbled they can do essentially whatever they want to and uh Get away with the things that they want to do unbelievable I mean, it's really yeah, I mean that and that's why we set out true inflation in the first place is really to The one scorecard that really matters and tracks the performance of an economy and How do we make sure that that's independent? It is immutable. It is transparent our methodology. Everybody's downloading our methodology go download it Check us out. Hold us to scrutiny right hold us accountable Anybody can see how we calculate it versus being hidden behind smoked rooms in smoked rooms Behind closed doors where they then decide on the day after they've announced the inflation updates They then go and share their methodology in some murky sort of You know in transparent way that you have to decipher and figure out And this has been going on for nearly hundreds of years right this methodology is over 100 years This process is really deeply ingrained into the system And we need to and what are we all doing in the blockchain? Why are we all so excited about digital assets? Why are we so excited about the blockchain is because it's bringing about a systemic change And that systemic change is opening up Markets that are going to allow for limitless participation And I think that's the exciting element and and how do we do that with with real world asset metrics and and Metrics that score the performance of our everyday lives Yeah, well that's I mean that would lead me to my to the final thing because What I like about you know the the site first of all, it's free everybody likes free But the other thing is that all the data that you guys pull in I appreciate it But I know that you guys were using a centralized platform. It wasn't aws or google was another one But of course like the add digital motion So like when you do that, of course things could go a little bit wonky because you know It's a centralized platform and that's pretty much how it is and there's a new package coming out a new Essentially legal aspect from the european commission digital services act package To create a safer digital space by essentially regulating the things that are being put out And of course if that happens and You know our friends over the eu, of course it can happen here So i'm glad you guys are moving away from essentially the centralized aspects and going to be doing a lot of things with The decentralized aspects so all these difference so it looks like to me like you guys are going to be having your own nodes Verifying the data and pulling this data from over here from the centralized part And having everything run it through a decentralized multi-faceted Ledgers is that essentially what's going on because it seems like a almost like a deep end play Yeah, it's it's So just to be clear we've always been very decentralized already from the beginning The only thing that we do is calculate the indexes on a centralized server So that's where we have infrastructure requirements And what we want to do is make sure that that index calculator is equally decentralized as is our data We partner very closely with chain link chain link has and the link marines have been super supportive of everything we do And the chain link ecosystem, right? So they've taken us onto their platforms all their node operators They love the data that we provide and they host that data for us and support it across I think some eight eight different blockchains now um, and so yeah Chain link is becoming like a big of layer zero essentially and then it's not just an oracle and That's why I hold it. So okay. So sorry. I misspoke on that one Decentralized and now even more decentralized. I'll take and now we're building on top of that infrastructure that they've built out and We're running our data our compute on the result of our compute on their rails So that's how we sort of look at it. They have this ccip They help us distribute the final indexes onto all the various different blockchains and broadcast The final indexes on those block not only the indices Also, the pricing data and the different categories that we have across all of those different chains, which has Been really brilliant. But our goal is to set up a trueflation stream network That allows not only the qualification verification of all real-world asset pricing data But also allows for the compute of indexes and enabling data analysts or any participant to go and create their own index with the verified data That's out there and monetize that by distributing that to decentralized exchanges to liquidity pools to Yeah synthetic assets that are going to be built using these data feeds Man exciting times. Okay Well, steven you said a lot and a little bit of time as usual. I appreciate you coming on and Schooling us about what's happening again. Everybody if you're looking for just to dig the data I'll link trueflation's website and the links in the description below But steven, thanks again for stopping by and of course, we'll have you on as things get updated Yeah, no, thank you Yeah, so thanks steven, it's always good It's always good when steven comes on because like I like to break down the information especially with the cpi numbers I just don't Trust it. It just seems like it's a it's a game and they're and they're moving around data points And then of course when we have a you know our elections coming up in november It just seems like all of a sudden I think things are going to just Turn around miraculously, but I could be wrong Also, I wanted to make mention of there's this tool from trueflation.com forward slash calculator Talk it talks about excuse me. What's your personal inflation? You can put your numbers in you can actually see how much your Uh purchasing power is actually decreasing. So link that in the description as well But that is it for today everybody. So first of all, thanks for stopping by. I appreciate like today's video Give it a thumbs up consider subscribing. Everything you talk about is time sensitive