UBI & Why Fiat Currency Is Finished!

Welcome back to the channel. I hope you're all having a great weekend. So today we're going to talk about Ray Dalio, the greatest hedge fund billionaire in the world, talking about, or signaling rather, the breakdown of fiat currencies, the US dollar, so on. Um, and so we're going to look at this, um, clip from Tom Bilyeu. Tom Bilyeu, he has these direct conversations with Ray Dalio, and he's explaining, um, you know, some of the warnings Ray Dalio gave out, um, you know, about, you know, what the, the global impact and plan for the US economy and just, uh, fiat currencies in general. Of course, US dollar being the biggest of them, uh, what, what their path trajectory is going to look like. So let's take a look at what he has to say and give some commentary on it.

Breaking down, and we're now on the brink of war. This is due to economic forces the world over that repeat throughout history. And this is the important part, it includes a decline in confidence in paper currencies and debt, and they no longer view it as a good store of wealth. They largely being central—

okay, let's stop stop right there. Well, let me hear the last part, what he was trying to say about the central bank system.

Thanks. This is the end of the paper era where people can think of the world in paper terms, in terms of things you can move around on a computer screen, you can place bets.

So let's stop right there. A decline in the confidence of the— these paper currencies, these fiat currencies such, right? These data banks are moving these digits on the screen. Um, you, you know, in universal, the universal basic income communities, right, the advocates and a lot of these people who are, you know, writing these papers and pushing for universal basic income, do you notice that a lot of their push is with like a type of government UBI that's going to be dependent on these fiat currencies, right? So these— this whole setup and dependency on these currencies, right, could be signaling a situation where the value of these things are tanking and you're getting this worthless paper, so to speak, right? And so it could be that, you know, of course you guys watch the channel and listen to my thought process on it. Whereas I'm not opposed to government UBI or a pool of UBIs with various approaches, uh, uh, I have pushed more of the commodity-based UBIs, right? And when you look at something like cryptocurrencies, they are regarded in many cases as especially the ones that kind of fit that store value narrative, as commodities. They're taxed like commodities, right? So they're regarded as these things. And as you can see in what he was saying, that these institutions, right, if they're losing faith in this paper money, what do you think is going to happen next, right? They're going to be taking it out, putting it into precious metals. They're going to be putting it into other commodity-based tangible things, something that they can extract real value from at any time. Can't do that with paper money. You can't, you can't do that with these principles. So this is kind of reaching out to the UBI communities to kind of widen their horizons and thought process of this whole government paper money fiat decree currency type stuff.

On stocks and gold is an abstraction, silver is an abstraction. Now, we can't think of these things as abstractions. Who holds what and why does it matter? Silver matters because the majority of its value, unlike gold, is in its industrial use. Okay, so it's actually a real thing that is powering our economy. And you want to think about the fact that trust is breaking down everywhere. Obvious fighting between the US and Europe. China and the US are locked in a Cold War headed towards Thucydides' trap. You've got EU infighting. Germany saying, ah, forget about these European kids. America, I want to team up with you. Now, one of the most—

okay, so let's stop there. So you see the reasons now why, uh, the idea of this paper money and us going, hey, give me a universal basic income paper money might actually not be the best idea, right? Uh, he explains how silver, an industrial metal, is actually being used, right? But gold, you know, supposed to be a store of value, but it, you know, at the core feels more ceremonial, right, to, to various uses of things, you know. Um, and so, um, he's talking about use here, things that really matter, that has value based on driving and running an economy, right? And if your value extraction is done in these fiat currencies, paper monies and such, right, with all these wars going on, these trade wars and endless, endless debacles, then, um, you know, it might not be— it certainly shouldn't be the only direction for universal basic income advocates, right? So in that alone, we should be greatly considering other approaches.

Important things Dalio is calling out is that central banks are moving away from holding fiat currencies like the US dollar. The banks are going to opt instead for alternatives like gold. They've been doing that aggressively for almost, I'd say, 18 months now. The erosion in trust in paper assets is being exacerbated by trade deficits. Evolving into trade wars and capital wars, where the US government and the foreign countries that hold US dollar-denominated assets are growing mutually distrustful. Each side has the other by the balls, and now each side is beginning to squeeze to see who's got the tighter grip. And Ray warns that this monetary unraveling is intertwined with breakdowns in domestic political stability, so here at home, and international geopolitics. Hey, anybody been paying attention to what's going on in Minnesota? And this is pushing the world towards conflicts, including potential kinetic wars. 75% of the time throughout history, when the world finds itself in a situation exactly like the one we're in now, war is the outcome.

But at the individual level, so a lot of instability, right, based on this distrust, these trade wars and such. Um, and where do we fit in, right? We're asking for these, these, uh, this paper money, right, to fund UBI. We're talking about, you know, uh, go change the data banks, right? Just add the numbers on the screen and cut a check. Cut a worthless check, right, from what it seems like, you know, might be going on here, right? Um, and so this seemed to be an eventuality for us. I guess it all too boils down to how much do you trust these, uh, governments and political figures with your, uh, basically with your, uh, welfare, right? And, uh, you know, uh, it doesn't seem to be looking very good for us in that area. Um, and so we're gonna need, I believe, a lot of approaches again to this UBI community. Um, we're going to have to expand our education into all of this Not— it's not gonna be so simple as just saying go to the government and have them find us UBI money when all they can do is print more of these fiat currencies.

Buying an all-weather strategy, as Dalio calls it, is going to be key. You are not diversified if you have 12 different AI stocks. That's just 12 different ways to expose yourself to one economic force. But right now, boys and girls, stay safe out there. Don't trade on leverage, for the love of God. From my favorite carpenter and yours, don't forget, love thy neighbor. The monetary order is breaking.

Okay, and there we go. I thought that was pretty good. And again, he touched on Ray Dalio's warnings through a conversation with him. You know, Tom Bilyeu does a good job of networking himself with very smart people, very influential people, people who know what's going on, people who are already educated, and he learns from them. And those are the type of things that I think we need to incorporate into our UBI approach, right? And that's gonna, in some cases, call for a general understanding of the global economy and everything that's happening, right? Um, and I think that's where many of us are lacking. Uh, the universal basic income community. Uh, depends on who you ask. Some feel like we're making progress with these pilot programs. Some of us feel like, uh, we're kind of stuck in a rut, uh, depending on how you want to define success. You know, for me, success is when the majority of people benefit, especially the people who need it, benefit from the universal basic income initiatives. I don't think we're anywhere near there or even got started yet, and we have been now talking about this for years, decades. And so many of you who come across my voice, you still haven't joined our Universal Basic Income project. That is a social network tied to a cryptocurrency. Again, going back to those commoditized type ideas of tangible value based on a tangible network and people, right? Not based on, um, printing of money, clever, uh, put money over here, shell games, or put money on there, tax this guy, take a little bit of money over here, put it over there. Not those type things that, uh, we, we've tried to do in certain types of ways that haven't worked yet, that has created these large welfare systems that are inefficient and horrible to look at. And, um, you know, hopefully we start to combine these other tactics and means, and together they, uh, create the value that we need and push this UBI initiative forward that we need to happen, that we seem to be struggling with. And, um, so come join us, come over and have the chat with us. As together we join value and we pull our power together in order to make this happen, to be a voice out there to the world, not being on other people's networks with their own agendas where our voices get muffled and covered in noise, right? But our own spearheaded, highlighted, initiative and network that the people come to us and join, and together we go out and we make this thing happen. But I'm gonna keep the video short. That's all I want to say in this particular video today, guys. Join BitcoinNYK.com, the premier universal basic income project out there, social network. In several independent polls, it tests better than any universal basic income initiative out there when it comes to Who has access to it? Who has use of it? Uh, what's the reach it has as far as the technology and what it could be able to do? We're not talking about pilot programs where that help 50 people or 2,500 people. That's not enough, guys. We're talking about something that can be a global network that's going to influence a lot of people. And, uh, those things are hard to build. We need your support. And don't look at it like you as one person can't make a difference. This happens when you come over with us for free, sign up, get our cryptocurrency, get the money for free, start using it, distributing it. If you don't want it, give it to somebody else who needs it. And when we start doing those things, that's when we make progress. Otherwise, guys, another decade to pass, we'll be talking about this, or worse, things will get worse and and the government will still be wondering if they should issue us UBI or not, where we starve to death and all these other problems. But I'm gonna get out of here, get messages. Till next time, take care of yourselves and each other.