What's up guys, get ready for part one of an incredible three part episode where we delve into the controversial thought provoking and sometimes almost scandalous viewpoints with the man who burned 1 million dollars to raise awareness about the trillions of dollars being printed the one and only

Bology Shrinivasan Bology who predicted the response to COVID and the civil unrest that followed on Twitter before basically anybody else is joining us now to talk about the precarious state of the economy possible banking collapse worse in 2008 and the catastrophic consequences you'll need to be prepared for

get your mental armor ready and brace yourself for part one of this very powerful conversation first did you know impact theory is now available on Amazon music head over to the Amazon music app to hear more impact theory episodes like this the hard conversations that really matter don't wait guys subscribe to impact theory now on Amazon music and be legendary on Tom bill you and welcome to impact theory.

The problems go all the way to the bedrock of the financial system in terms of treasure is being the new toxic waste it's going to be at least as bad as you think probably worse than that.

You spent a million dollars of your own money to raise the alarm to the fact that the government is printing trillions of dollars and what I want to know is how are you so sure that the u.s. economy is in really bad shape what does Bitcoin have to do with this and how

on earth could you justify spending a million dollars of your own money to make people aware of this I do believe that we're in the middle of something or the beginning of something that is at least as serious as a 2000 crisis.

The government is extremely good at kicking the can and like that this primary skill in some ways so it's hard to know exactly when things will be formally acknowledged as such you know I've got a bunch of slides that show that the economic situation is parleless a

bit of the problem is that the degree of collapse across a number of different industries and number of different weaknesses will probably necessitate some form of bailouts or printing even if it doesn't look exactly like 2008 a lot of what the financial system does it evolves to evade last time's pattern recognition.

And so it won't it may not look exactly like it used to despite what form it comes in on whether it's like treasury buybacks or the people's qv which are different ways of like injecting money into the system that don't look exactly like the 2008 bailouts I do believe an enormous amount of money is going to be printed just like read all you just like a number of other people do.

And in such case you want to have quote outside money whether that is gold whether that is a foreign fiat currency that you have faith in that sort of outside the feds control or whether that is Bitcoin or cryptocurrency Bitcoin in particular is you know built to be difficult to seize I think that's that's part of the answer and it's not the only it's only not the only thing you want allocation you want to think about other things in life like where you live your location again doll you also think so that is an important thing.

You know early to intense Jan yellow was credibly reported as having known about the housing crisis having seen it and not raise the alarm and you know I'm actually sort of finding like you know people don't want to hear you raise the alarm or they're like oh my god you're a doomer why are you saying this right.

The financial crisis was maybe officially acknowledged in September 2008 but of course it had been going on for years before then it was just something where it became undeniable at that point.

But I felt as my responsibility having put together what I had seen to be like you know what this lot where some people are saying it's not just like a single bank crisis it's not even just a banking crisis it's a central banking crisis the problems go all the way to the bedrock of the financial system in terms of.

Charger is being the new toxic waste and it's going to be at least as bad as who does need to probably worse than that one thing I really want to I want the audience to understand why I become so obsessed with this and I've heard you say that the farther we get from the last

deliveraging the more incoherst people become and what I think people have the the subroutine that runs in the average Americans mind for sure is that this hasn't ever happened not realizing what they mean is hasn't happened in my lifetime and they don't realize the hard truth which is that every single

empire and every reserve currency all throughout all of recorded history have all collapse they have all failed they have all gone through this massive

deliveraging and the leveraging is a really polite way of saying everybody loses everything and it is a it is a blood bath it is often as Ray Dalio talks about it it is often marked by blood literal blood in the streets this is when we go to war everybody's freaking out and so because it's been so long since

we've had a big war on a global scale because nobody alive in the western world anyway is aware of a massive deliveraging they don't understand that they do happen be that they have when they happen they happen fast and see when they happen it is catastrophic and so I'm like I don't want to be chicken little I am super optimistic

but man the more I started getting into financial content the more I was like whoa there's something going on here radalia says that every society every empire goes through six stages stage six is absolute collapse for people that don't know Ray he built the largest hedge fund in the world so this is somebody that literally puts their own money at stake

much in the way that you have to say hey I think I know what's going on he's been right so many times that he's built the largest hedge fund ever

and so what he's saying is okay there's six stages stage six is total collapse PS the U.S. is stage 5.5 so I like that's that's not ideal so as people here you talk the one thing you're a very metered guy but the one thing I want people to understand about why I'm obsessed with this content is

skies probably not falling today at least that's my take will get to the the sort of how impossible it is to predict the timing a little bit later but to really understand how these cycles happen in the are cycles where we're at in the cycle so that you understand what to do.

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