Financial booms and busts are as old as time and in the modern era we have seen many. From the South Sea Bubble to the Dot Com Crash. But are these stock market manias really all about money or is something more insidious actually taking place? In episode 77 we uncover how financial manias have been engineered time and time again in order to help build out the global surveillance infrastructure that will make up the technocracy. Having revealed the hallmarks of the method in part one by exploring the Dot Com Crash of the year 2000, we then consider how the same process is being enacted as we speak, with cryptocurrencies, in order to put in place the final bubble that will force us to make a great leap forward towards centrally controlled digital currencies, tokenized assets and 15 minute cities.
[Music] What you are basic. [Music] Deep deep down, far far in, is simply the fabric and structure of existence itself. [Music] [Music] The fabric and structure of existence itself. Hi everybody, welcome to the Paralympic Podcast. I'm your host Mike and tonight we are joined by a returning guest. Her name is At Money and we're going to be discussing technology and technology bubbles over the past 300 years perhaps. So we're going to talk specifically in part one about the dot com bubble and how that was used to help us in techno totalitarianism. But really it was done through the back door and that will make sense as we get into the episode. But then in part two we're going to talk about crypto and AI and how these manias over the past decade are also being used and weaponized against this in ways that many people are probably not aware of. But before we go any further, welcome back to the show At Money. How are things going? Oh hello everyone and thanks for having me back on the show. Everything's going great and I'm excited about today's episode. Yeah me too, it's an interesting one. It was actually originally going to be about technology in a more general sense particularly about technologies that never actually fulfilled their potential because we both believe that there are technologies that are being ushered in that are essentially just boondoggles, they're not going to go anywhere, they're going to fail and this could even be some of the things that people actually believe. Like how a past guest was talking about like with AI where people believe it's going to become something that it just isn't. But as we got into the research for this one we realized that it was such a vast topic and there's so many things you can talk about with technology that it would probably make up a three, four, maybe ten part series we don't know. So we're going to start this episode as maybe one of many episodes and this one specifically we decided to focus in on manias and bubbles around technology and then discussing how different technologies have gone on to be used to help build out this totalitarian infrastructure that now we're now all seeing around us this techno totalitarianism or technocracy is the WF call it. So to begin with money, let's start by looking at the dot com mania because I think that is one that many listeners will be at least a little bit familiar with. But what they're probably not aware of is how that thing came about, what it took to get us to that mania and also the kind of infrastructure that was added to the world because of it and how that later went on to fuel things like the internet. So I got the internet craze, we're on the internet right now, it's not really a craze but basically they built it out so that the internet could actually thrive and that people could have internet at home. So I'm going to start there, what do you know about the dot com mania? Well I know it was a very short one essentially isn't it because all the dot com companies were essentially new startups and they appeared suddenly in the late 1990s only to live for 2-3 years. Massive amount of money from different investors and disappear suddenly with zero on the balance sheet so that's definitely a very suspicious situation. Yeah like many of the manias it was filled with financial fraud and out and out looting where people would create companies that would go on to produce nothing. There was many companies drawing this that created IPOs which is an initial placement offering or essentially a company comes along and says to investors right we're going to list ourselves on the stock market. Why don't you buy into us now for a set price and it's going to be a great deal for you because this company is going to thrive. But many of those companies had nothing they had no assets they had no inventory they literally just had a name like a website that's all they had and I'm sure we'll get into some of that later but do you know what preceded the dot com bubble because like all bubbles it begins with something that is revolutionary a technology and in this case it was the internet it was the internet and the rapid expansion of telecommunications. So do you know much about that or do you want to discuss that before we get into actually how they managed to get us to that bubble. That would be great to discuss that oh I can think of at the moment is there mega uploads success and how they managed to create a demand for uploading music and actually purchasing additional services online isn't it. Yeah well this was the Wild West back then and you're right to bring up mega upload but there was other ones too there was one called LimeWire there was one called Napster. I remember downloading a ton of music which technically was illegal and we were all doing it back then you could download full albums it was easy I had thousands of mp3s and we thought it was brilliant. We thought it was fantastic and of course the record industry and Hollywood they hated it and Kim.com is actually still today he's still a celebrity he's still super rich. He's a guy that we could maybe speak about in a little bit because we actually watched a documentary on him didn't we so maybe we'll talk about him later. But to begin with I'm just going to set the scene if you don't mind as to how the dot combo will be started to build up what was it that allowed them to get there because what you'll find with all of these bubbles. Whether it's the dot combo ball whether it's the crypto craze that we've got now or whether it's one of the other bubbles going back in history because there was many manies there was the south sea bubble. There was the railway boom there was also the canal craze do you know about that one the canal craze? I've never heard of that one. Yeah there was a bubbling canal stocks and canal companies so this is how it always happens but it always begins with a new technology basically something innovative that is going to change the world in a profound way so if you go back throughout history we had different technologies technological cycles they say today we're in the fifth wave but we had for example the industrial revolution. We had the electrification we had the automobile we had the IT craze and now we've got what they tell us is the fourth industrial revolution but I would say it's actually the fifth wave of technology. To the dot com one that was the IT one and that was really the last one and that is now something that we're coming to the end of but it began going into the year 2000. Now the dot com bubble actually best just after the year 2000 but in the build up to that there was the same hallmarks that we've seen in every bubble so it began with a new technology which was going to change the world and of course that was the internet and it was mobile infrastructure so people could have these personal devices. So that was the technology and it was truly was going to be a age defining technology I mean we're all sat here now. If you're listening to this you're listening to it with an internet connection or you've downloaded it so it was true there was something real there that was the car but to get it to the point where we could all be doing this where I could be creating this podcast where you could be streaming it or listening to it or we could be doing zoom calls they had to rapidly build out the infrastructure because it's not enough just to have the technology. You have to have the infrastructure to facilitate it and if you think about it that's no easy feat you've got to get the technology and the infrastructure across the world. And there's only one way to do that and that's to have a huge influx of money and also a huge influx of market participants who are going to foot the bill and actually build out the infrastructure. So going into the dot combo but there was something called the telecommunications act of 1996. And this was basically a federal law in the US that was enacted by Congress on January the 3rd 1996 and the primary goal of that was to let anyone and everyone enter the communications market space. So you could basically just have a shell company you could build it out and say right we want to start building out a telecommunications company and we're going to start laying fiber optic internet cable and you could do that. Because before this it was actually very hard there was a monopoly in the US and they made it extremely easy so here's a key feature that I want listeners to remember. It begins always with new technology then deregulation if regulations are standing in the way or the lack of implementation of new regulations to stop the technology and the boom happening. Then you had the Federal Reserve low interest rates so money was cheap banks were lending and you had people businesses entrepreneurs the good the bad and the ugly incentivize to now start building out the infrastructure. And then you had the final piece of the puzzle which was the mainstream media which was hyping the technology in the media and the tell people these stocks these companies are going to change the world and then that brought in the everyday investor as well. So that's kind of the recipe for the dot-com bubble it was lots of money being thrown at it deregulation and also this influx of cheap money and then finally getting the everyday man and woman propaganda so they believed it. Now it might be starting to sound a little bit familiar but I'm going to hand it back over to you that was the buildup. Oh definitely and on top of it already in the fall of 1999 FED also created too much money to aid this frenzy. So they feed it, feed it oil to the fire would say because in the fourth quarter of 1999 FED expanded the money supply at an annual rate of 22% which was unprecedented at the time. Wow 22% so they were flooding the system with new currency and all of that was going where it was going into these Ponzi stocks. Most of which were actually fraudulent companies as we found out later on and that was under Alan Greenspan he was the chair of the Federal Reserve at the time. Yeah and when you look at it from that perspective you can clearly see how they manufacture it isn't it because then first they create those artificial additional influx of money into the system and whenever they think it's time to burst it they just tighten up the interest rates to cut off the supply of more liquidity. So they can decide when they are going into the market and leaving it. Yeah they control it through interest rates and this happens in every bubble that I've studied throughout history their lower interest rates going into the bubble. They push loads of debt on your currency into the system and then when they are done with the bubble they raise interest rates very fast and crash the bubble and then they pick the winners and obviously the losers. And what you find out is going into the end game they always always have massive financial fraud that passes off loads of money to the billionaire or trillionaire classes you might say. And they get away scot free and then the government will be handed a bill and right now the taxpayers are going to bail out whoever we tell them to bail out. So it's a fraud it's big financial fraud on a major scale and just going back to what you said about the monetary supply building listen to this. In the five years after the American Telecommunications Act of 1996 went into effect companies invested more than half a trillion dollars all financed with debt into laying fiber optic cable adding new switches and building out wireless networks. So let's imagine that going into the 1990s you was part of a shadowy elite or you as a part of just government or any of these globalist clubs. And you were seeing that technology was going in that direction you understood that this rollout needed to happen. How are you going to do it how are you going to get trillions and trillions of dollars to go into that space how are you going to get people to activate it and build out the infrastructure. Well you need a bubble and you need lots and lots of people to get on board with it and that's exactly what I think they did. And there you go half a trillion dollars in five years that was I mean back then a trillion still meant something today it's nothing. You know it's three months a trillion more debt but back then it really did mean something. I mean the best way to look at it is to compare it to gold price for example spot gold price isn't it. Well it was back then 200 to 300 dollars. Yeah back in the early 2000s I think he was talking just under I'd say it was just under 200 dollars an ounce so that was really the bottom of the bear market. It'd been falling for quite some time and then in the 2000s you had a massive bull market and that was because of this bubble because of all the new currency that was printed. And gold went up all the way up until 2011 and 12 where it hits all time high and then of course it collapsed again. So this is again this is a feature of the system where they create the boom and bust then gold has to play catch up to account for all of the new money creation which is exactly what it's been doing ever since 2022. In fact it's been happening since 2016 and you could argue it's been happening since 1971 but let's not go down that path. So that was the telecommunications act. Many people argued that that act was actually a form of corporate welfare because what it purported to do was to allow lots of small businesses to come into the arena. And that's true and they did have lots of businesses that all of a sudden popped up and the government was making it extremely easy for them to go out and create new wireless network connectivity and lay all these cables. So that was actually happening. There was building out the BTS towers which now people will be well aware of. They're all over the place but back then there was none. And it's a huge infrastructure project so they wanted as many hands on deck. However they always plan to get rid of those businesses in the end. After every technology bubble they always then consolidate in their select few companies so they'll get rid of all of the chaff and then all of a sudden you'll just have two or three massive companies at the end of it and that's exactly what happened here as well. But shall we talk a little bit about how the stock market performed during that time because that's again a key part of any bubble is to have the stock market go up because if number go up people are happy and everyone's happy to participate. But it's when the chickens come home to roosters they say that it all falls apart and that's exactly this was the West market crash that we've had it was worse than 2008. Yes let's talk about the stock markets and that's a very interesting time I think because you've got plenty of startups that appeared out of nowhere. They lasted for two or three years and managed to acquire a lot of funding for having not really any structure or reliable idea on what products they're going to sell or what services they're going to provide for people. And I think that one of the most famous one is that pets don't come isn't it? It lasted only two years managed to acquire tens of millions of funding and then spend the majority of it on advertisement. Can you imagine a new company decides to for example spend four millions on the Super Bowl advertisement which cost about two to three million pet thirty seconds off of advertisement. And you had quite a number in the year 2000 quite a number of those companies advertising their services or the websites or just making a TV appearance which costed in total 40 million dollars. And then all of those companies collapse the same year so that's very interesting what was happening back then isn't it? Yeah well I don't think this is by accident I think this was the hidden hand because these companies were never going to make a profit and I don't think they was meant to I think it was there to create an illusion. And the illusion they wanted to create was that all of these companies and this whole mirage around the stock market was true that people should invest in money but they knew it was a bubble they created the bubble and they also then created the crash by raising interest rates very fast. But yeah going back to pets.com they raised 82.5 million and nine months later they folded nine months. Part of the reason was that they basically spent all of the money they had on advertising. They never ever rent a profit and they lost money on every single order that went through them and for listeners that don't know it was essentially an online store where you could buy pet food and products via pets. But every order that a person made with them, pets.com lost money on. So the last thing they wanted was orders it was a bad thing to have an order but of course if that's your business model you kind of between a rock and a hard place. I mean would you like to have a business money where every order actually hurts you instead of benefits you? It would hand my heart another customer. Oh damn another customer. Yeah so it says here that in the third quarter of 2000 they reported negative gross margins of $277,000. The second quarter had seen a 1.7 million loss. The same quarter is last full quarter as an operating entity. The company lost 21.7 million on only 9.4 million in revenue. So they had 9.4 million but lost 21.7. That's not a good business model. It's a terrible one but they did have an infamous advertising campaign which had a hand puppet. It was like this little sock puppet that was on a hand and it was a scam but people bought into this and that is in my opinion what it's all about. It's about creating the illusion to fuel a mania that ultimately leads to a wealth transfer from the poor people to the rich which is exactly what happened. Because just because these companies went under didn't mean people lost money who were CEOs. Lots of the CEOs were getting paid big bucks but also who was behind the CEOs it was the super rich in the elites. And they were getting money transferred to them and I told you earlier about some research that I did and there was a couple of brothers who were already billionaires. They bought a company it was a television network so it was a profit earning company it wasn't quite as bad as some of these. But they secretly unbeknownst to their investors took out 3.2 billion dollars worth of loans and just decided to siphon it off to their own bank accounts which they then bought a load of artwork and palaces and cars and all kinds of stuff. You know how long they did in prison for that? 3 years. Now this was not an anomaly there was loads of companies like this. Loads of these companies that we today don't know the names of but back then were being touted as the next big thing. There was DrCoop.com, etoys.com, globe.com, pets.com like you said there was many many others. All of them saw hundreds of millions of dollars being pumped into them and they all disappeared after about a year. Where did the money go? Whose pocket did it go into? Well just like the 2008 crash just like the COVID scam it all went to the super rich. Yeah, well one of the first investors in pets.com was actually Amazon as well so I wonder whether they managed to siphon off some money because they were one of the early investors and they would see all the rise of the stock before it fell down. That would be interesting to investigate maybe in the future but I've got another interesting company as well to mention did you ever hear about the web van? I have heard a web van but I don't know a lot about them so he can fill me in. It was another.com company that lasted for two years and within two years they managed to raise 1.2 billion dollars. Can you imagine 1.2 billion dollars for a startup within two years and what they've done? Well the services that they were doing was basically a grocery which you could order online and have it delivered home and they were setting up really high standards for the services, quick delivery, lots of convenience as well which probably would now remind us of modern Amazon fulfillment standards but back then there was quite novelty and maybe the idea was quite good but there was no infrastructure to provide this kind of services and the idea of this online shopping for things like daily grocery was quite novel as well so there had to be some sort of shift in people's minds to accept it but at the same time those huge 1.2 billion disappeared because when the company bankrupt they had no assets and zero in cash so where did the money go and some people did some research saying that actually majority of this and it was a few hundred millions of dollars went into upgrading and putting some high tech technologies into at least oriented properties that they never owned so basically what they've done is they rented lots of different stores and just upgraded them with top-notch technological solutions and then just got bankrupt and it happened to be that the company who owned those department stores was a company called Bachel which is one of the biggest US infrastructure companies which is again quite infamous for many let's say suspicious contracts that dealt with the US government for example it was one of the four companies hired by FEMA in 2005 to build temporary housing it also was the one who had a 680 million contract to begin rebuilding infrastructure in Iraq for the US agency for international development and in 2000 which is closer to our dot-com bubble they had to leave Bolivia because they decided to monopolize water supplies in this country and raised water before everyone so you can see it's not one of the best companies perhaps but yeah they benefited greatly from web and investment into their infrastructure so it sounds like this company what was the original one called it was called the weavit or web van and it was a delivery company and then that company had a load of money put into it that was siphoned off to Bachel and Bachels a long standing scammy company that works with the US government with a load of government contracts it buys a load of infrastructure it built it out they were one of the first ones into Iraq afterwards so that tells you all you need to know and they got all of the money it all went off to them and that's what happened in so many of these companies there was billions put into these companies and the billions just kept disappearing so I've got a few more that I wanted to share with you and listeners so one was called globe.com the globe.com went public in 1998 on its first day the social media foreigner which let users publish their own content and interact with others with similar interests on hosted discussion groups and home pages saw shares increased their value by 600% 600% on the first day of the company going public it was set to trade at $9 trading began at 87 and ultimately settled at 63.5 with a market cap of almost a billion the company seemed destined for greatness but it wasn't able to sustain growth by August 2001 they delisted the stock a strong shifting focus in 2003 when the company launched Glofone a VoIP phone service similar to SkyPelt it hang on to 2007 so this one actually lasted a while but then it got perceived by lawsuits it was found guilty of violating anti spam laws and Facebook became red hot just afterwards and all of the ideas that globe.com was using were adopted by Facebook now this is very interesting because it shows you again they select the winners and they cut the throats of the losers that they want to get rid of and it seems to me that's what happened with this company that this company actually had some of the pioneering ideas around social media but listeners might know this or maybe they don't Facebook was not really the idea of Max Zuckerberg he's one of these characters that was put there he was selected to front Facebook but the CIA already had an idea called life log and in conjunction with DARPA they wanted to create something called life log and the idea was they would convince people to put all of their family connections their friendship connections their history when it came to education their social status their relationship status where they was going and it would basically be a giant database where people would willingly put all of their information and updated daily which of course is what Facebook became and today we've got a load more on top of that but life log project was something they were developing and they closed it down I think it was the same month Facebook went public so they literally just transferred the idea to the private sector and this is something else that I think we really did something else that I think we really need to hone in on in this episode that lots of what they want to do they do through the private sector because if they went ahead and did it firstly nobody would accept it and secondly people would say oh this is totalitarianism you're trying to add spyware to my life like imagine for example somebody said to you the government came along we said money I've got a fantastic idea for you what we're going to do is we're going to give you this little device it will allow you to phone your friends and family you're like well I can do that anyway so no no no you want to do this all the time it's also going to secretly listen into your conversations it's going to have a GPS in there it's going to have microphone it's going to send all of the data of where you go who you see what you eat what you think about and it's going to send it all off to the government you'd say no thanks I don't want that but if the private sector comes along and says hey look at this phone and you can go online and you can take photos of your friends why not take photos of your own face let's stick a camera on the front and the back and you know on and on it goes and you can see why the private sector bringing it in is very advantageous and of course it builds out the infrastructure which later on will be used to tyrannize you and that's kind of the point of where we're getting to here all of this is artificial it's a form of looting it's a form of fraud it's a form of theft because of course they're printing the money and then they're stealing from you in terms of inflation and also it's yes to me just a giant criminal racket so that was globe.com so I don't know if you've got any comments you wanted to add to that I've never had about globe.com but it reminded me of another racket that managed to put into the internet or software infrastructure now $600 billion and that was the year 2000 problem I'm not sure if you remember that one oh this was this was very interesting so tell us about the year 2000 problem as you called it yeah I remember it vaguely as a teenager but the problem was that people genuinely believed or the media made them believe that the computers will just not cope with the change of the date between 1999 and 2000 that they would just get crazy and get all confused and everything will just collapse so the government the US government issued lots of laws to help the companies invest into getting ready for this year and there were different schemes to support it and the companies had to also put in some money into employing engineers to ensure that all the systems will smoothly change the date. Wow so that was a lie in a scam because there was no way that those systems could fail because the date went from 1999 to 2000 that's just ludicrous but you're saying that they actually put 500 billion into getting ready for it so again more financial fraud and theft going on here and the public were sadly dumb enough to believe it I was I remember they told us that planes might drop out of the sky can you believe that? and I think this was one of the first major side ups around technology in my lifetime I know there was past ones War of the Worlds, Aldous Huxley, Brave New World but this was one of the first ones in our lifetime where they really created a mass panic and fear around technology and how it was going to fail but what interests me is this shows you that they were getting ready to pull the plug on the narrative because if you had a stock market bubble and if you had all this money rushing into technology you would not have the media create such a narrative and you wouldn't play along with it because that destroys the bubble people are going to start to get fearful and that's the last thing you want when you've got a bubble going on unless you want to pull the plug so what I want to impress upon listeners is they decide how the bubble grows they decide who gets the money and they also decide when it ends which is exactly what happens so I'm just going to tell you now how the bubble formed and then how it resolved itself but I'm just going to interrupt you for a second imagine imagine just just go into your time machine and imagine you are moving back those 24 years ago and it's like the end of December 1999 and you were just waiting for the world to finish you know and you were really anxious you believe all the media friends in media scaremongering that everything's just going to collapse all the computers are just going to get crazy nothing's going to work and then midnight happens and everything's just the same nothing changes can you imagine how happy are you survived the 2000 glitch yeah that's like exactly what it was like I remember because I was I remember I went outside to see if the planes fell i genuinely thought it was true and that shows you just how big of a setup it was but it was a setup that was successful and you know where was you on that night do you remember the year 2000 they actually had a name for it in the UK I think they called it the millennium virus probably I just remember I went to friends friends home like for almost midnight party because I was a bit too young for it but yeah I was waiting for disaster to happen and midnight came nothing happened and I was like oh oh they've they've promised so much and you know it's just a common day common night if you think about covid and the psyup that we had around that this is very this was very similar it was very similar but this was around technology but they did even call it a virus the millennium virus in the UK and yeah they said that when these computers flipped over from 1999 to 2000 it could just reset the whole thing and they no longer work which was dumb dumb anyone who worked in IT who had even a basic knowledge of how these systems and software worked would have told you that was ridiculous but didn't matter it doesn't matter to them they are looting they're busy looting and they need you to believe that there's some major crisis so they can continue the looting just like with the covid loans and the massive amounts of money they printed for that but what else is interesting about this was they were engineering the social mood so there was firstly engineering it towards optimism so pets calm all of these funny little caricatures that were selling these things all of these mascots for these companies and they were getting people to get enthused and excited that my life's gonna change everything's gonna get better I'm gonna have a robot doing my housework for me people believe that we're gonna have flying cars within five years they've been telling us that for the last 100 years and then they decided to pull the plug on it all and they got the social mood to change first now that's really important and just before they pull the plug of course they choose the winners so they get all of their pals out of there but what also happened in 2001 don't forget was the Twin Towers in 9/11 which was huge so you had firstly the kind of build up in the year 2000 of this negative social mood and then you had 9/11 just a year later and of course between that you had the stock market collapsing as well yeah and actually before but all of that there was also the Michelangelo virus if you remember that one no I don't so it was another story probably blow up by media as always that there was supposedly a virus that was secretly planted into all hard drives that were connected at some point to the internet and that the virus was sort of like a sleeping cell and it would wake up in a set and you have to remember it was like 1996 or so on the day when Michelangelo was born which was 16 of March I think and on that day the virus would just wake up and destroy all the hardware yeah so this was back when people had literally no clue how computers worked at all you've got to kind of put yourself back there psychologically to remind yourself just how little knowledge we had about technology and computers what was possible what isn't possible but I would say you can actually liken it to where we are today you know if you go back to my previous episode with jobs he basically said that is exactly where we are you believe a load of phony narratives that we've been given in the media encouraged by showman and characters like Elon Musk but the reality is completely different and that is where we are today but that's also where we was back in the year 1999 1998 and people would have believed anything that you told them including the millennium virus or Michelangelo virus or any of the crazy spin on that but I just want to talk a little bit about how going into October 1998 the chairman of the Federal Reserve Alan Greenspan he ordered an emergency rate cut and that's because we had a number of things going on back then we had the collapse of long term capital management which was a small hedge fund it was headquartered in Greenwich and they were massively over leverage so they were making bets in the markets and apparently for every dollar they were investing they were leveraged 30 times so there was 30 dollars of debt attached to it now that was a dumb idea and when the bets went bad they blew up and it was Alan Greenspan head of the Fed who stepped in and said oh we need to bail them out because if we don't bail them out the system's under threat which was a lie so I don't know who he was really bailing out I'm guessing they had some very wealthy backers and banks I think were on the other side of a lot of those bets so who was they taking on the margin from it with all being banks so he really was bailing out the banks but he decided on October 15 1998 to enact emergency rate cuts and he reduced interest rates really fast and it was Bill Fleckenstein who called this one of the most irresponsible acts in Fed history because if you look at a chart of what happened to the stock market just after that it went to the moon like a rocket ship it just went up in a straight line in 1998 at the time of Greenspan's emergency rate cut the NASDAQ was at 611 by November 1999 it had gone up 84 percent 84 percent in just over a year then over the next four months it went up 70 percent so 84 percent then 70 percent and the dot com bubble best just after that in March 2000 but something else really important happened along the way as well which was Glass-Steagall was repealed now listeners might not be aware of this one but Glass-Steagall was something that was implemented during the Great Depression which was when all of the banks failed in 1929 you had the stock market bubble it crashed loads of banks failed and the reason the banks failed was because they had become not just savings institutions but also investment institutions or speculation casino gamblers they were mixing not just taking on deposits but also actually investing or speculating in the financial markets and they all went under in that crash so they created the Glass-Steagall act well it was Alan Greenspan again who in I think it was 1998 when Citicob and Travelers Insurance Company announced that they wanted to merge one of them was an investment firm as well the other one was a bank and they decided to merge and it was like hey that's legal but it wasn't because they had a private meeting with Alan Greenspan also Bill Clinton the president at the time and the head of the US Treasury they all had a private meeting and agreed that they were going to go ahead and deregulate and allow banks to become investment investment institutions also at the same time so that was the other thing that happened so really Alan Greenspan was directly responsible for this bubble he was working for the banksters from start to finish and he lowered interest rates the NASDAQ went up crazy it went up like a hundred percent in its final year but it had been going up for a number of years because of all the other things that we mentioned around deregulation the propaganda in the media and then it collapsed then it took about three years to bottom and it took almost eight years to reach the same nominal level but of course inflation had gone up like a rocket gold was going up to show that so by the time it got back to its all nominal high it literally lasted there few months then we had the 2008 GFC and then it took another like five years or something to get back to the old level so we basically lost 15 years and the stock market ever since the year 2000 has gone nowhere if you look at the gold price since the year 2000 in the British pound it's up 950% guess how much the stock market has done in Great Britain since that time so we're talking 34 years gold up 950% what's the stock market then the footy 100 what do you think? 400% 25 what? 25% in 34 years don't be laughing that's what your pensions invested in mine too don't worry we're in the same boat and you know the same in if you look at the Japanese stock market the Nikkai that's up only 350% and most of that's coming in the last decade gold in the Japanese yen since 2000 is up almost a thousand percent in the S&P 500 it is kind of the same story so what this is telling us is that the year 2000 was the end that was actually the beginning of the end and what they did to try and bail out the system in the year 2000 when we had the dot com crash what did they do they took interest rates to 1% now what was the not com consequences of that well it was that mortgages became extremely cheap people started to take on massive amounts of debt again and this created the housing market bubble and of course within that there was a load of financial fraud, deceptions, manipulations that led to that bubble they did the exact same thing they did going into the dot com crash this time around housing but it was the response of the year 2000 that led to the GFC and it was the response of what they did for the GFC that led to the COVID debacle so the same thing is happening every time they're creating new crises and what they do to fix the old crisis that they created is to kick the can and create another crisis and on and that goes and but one company that I didn't tell you about was Microstrategy do you know who they are? It rings about Microstrategy is it the sailor guy from Bitcoin? That's right Michael sailor Michael sailor he was actually the guy who lost more in the dot com crash in terms of his personal wealth on paper at least than anyone else so it's interesting when we get into this one there's a lot I could talk about this one but basically he was there he was front and center and his company Microstrategy had what we call accounting irregularities his company went live during that era going into the dot com crash and they basically lied about their earnings Monica they lied and said they were getting huge earnings they was actually making losses their share price went from $7 to 333 there's that number to 333 and then it was found out by a Forbes investigation that that actually lied and he got the largest fine that wasn't inside a trading I think so what the chances that the guy was front and center his company lost more in market cap than any company in history then would go on to be the company that fronts Bitcoin he's the face of Bitcoin he's the showman that pumps it seems to me a little bit suspicious I don't know what your thoughts on that I'm always suspicious when I hear things like that and it seems like they brought housing bubble and housing market crisis to sort of give a respite to technological progress or disappointment they've pushed as much money as they could into the advances and building all the telecommunication internet infrastructure and they ran out of steam they knew they couldn't push people into paying into it even more money even more hard into it so they had to give some respite and bring something more materialistic something more tangible isn't it so they gave 10 extra years for people to relax and think about something else and in the background they kept pushing again the AI narrative and we started a bit coin and all the other augmented reality visions that are now being very popular exactly what they allowed to happen during the next few decades was for people to adopt all the new technologies on mass so going into the dot com crash not many people had the internet but what happened was because of that whole bubble they created a massive network really it led to an oversupply because all of the companies disappeared remember all of that networking was supposed to be for these companies but then the companies disappeared and the knock on consequences was now they had an oversupply so they created very cheap internet and now people could afford it so there was this mass adoption of the technology because of course they want people to start using the technology and creating new technologies upon the technology that they can then later weaponize and use which is where we are today so yeah that was why it happened and it was very, still what you said that yeah they went back to something physical for the next bubble which was housing yeah so I dig that out actually a very very old guardian article which was basically telling why internet isn't liked and that was published in 2001 and basically there was a huge poll that came out with the findings that people didn't like the internet because it was too expensive for example it's not only how the internet you got connection to the internet but also because the hardware was just simply very expensive internet service providers you had to subscribe you had to pay and the bills were high but also people said it was just too slow they didn't like the intangible aspect of the internet as well people had different mentality they liked things that were real because they came from a completely different environment they weren't raised with the technology all around them so they were just not they weren't primed to love the things that are on the screen and you cannot smell them you cannot touch them and they are out of proportion because you see people tying on the screen etc yeah well that's kind of how it works as well is it's not for the generation that's already an adult at that time it's really to get the technologies out there and then infuse it into the lives of the people that are being born so by the time they're in their theaters it's really saturated and it's normalized and it's become a part of our day to day lives which is exactly what happened I mean I got the internet I think first when I was maybe about 13 it was very slow it was dial up it had that crazy sound sometimes we couldn't go online at peak hours because there was too many people online they said so we had to pay for the cheaper tariff where you could only go online where nobody else was online which was like jarring I think it was like midnight onwards so we'd be staying at waiting to get online and it was ridiculous yeah it was slow the websites for clunky but as the internet started to grow there was all kinds of cool stuff on there so that's what kept us hooked it was like yeah we can go find all these crazy web pages that tell us about all of these different things that we've never learned about in school so that was really exciting for young people I think but still it wasn't so exciting that I was going to spend all day on it I was going out with my friends and it hadn't really infused itself with our lives mobile phones were boring the best thing about them was the game on its snake but none of this was actually that useful or interesting it didn't dominate our lives it's nothing like today so we was really the early adopters of the technology but where we are today is completely different I think it's something like I think it's 60% 60% of young people under 13 so we're talking like 11 year olds 12 year olds spend more than 5 hours a day on their phone so firstly they have a phone which is crazy but they spend more than 5 hours a day either on their phone or behind the screen so that's huge okay well I think we're going to be coming to the end of part one soon so shall we end it with a little teaser for part two of what we're going to take this one yeah I think that was year 2000 was actually they've managed to manufacture real change in the society because with this frenzy of .com bubble and the sudden appearance on a scale of the internet infrastructure suddenly being available and adopted by many companies it made that people were just starting to shift away how they live and also how they work in the workplace for example the introduction of email wasn't well received by majority of people, according at least to Guardian and that surprised me as well because nowadays email is the basis of work if you work in the office but back then people said it was just clunky and was giving a lot of additional work and people were interpreting the emails etc so it was actually causing more workloads rather than make things easier so it's interesting how we adopted our way of working to the new technologies to embrace them and now it seems like an impossible for us to work with all of without them yeah and it's worth also pointing out the companies that survived the tech crash most of these companies disappeared but who survived Amazon, Google, Nvidia, Microsoft even though Microsoft also had a massive court case against them for breaching antitrust laws and creating a monopoly but they were let free micro strategy was let free but what kind of deal do you have to make to be let free and to be allowed to continue well I think you have to tie yourself in with the intelligence services and also the governments and basically become a public private partnership that's what all the companies are today, Tesla too you might think that X is there for free speech but nope all government contracts all tied in with the deep state it's kind of an illusion I'm just going to end on a quote then so this is from a 2015 book by venture capitalist Fred Wilson who lost almost 90% of his net worth when the bubble bears so he wasn't in the, he wasn't on the chosen list money he wasn't on the special person's list they allowed him to lose his wealth and he said nothing important has ever been built without irrational exuberance meaning that you need some of the mania to cause investors to open up their pocket books and finance the building of the railroads or the automobiles or the aerospace industry and in this case much of the capital invested was lost but also much of it was invested in a very high throughput backbone for the internet and lots of software that works and databases and servers all of that stuff has allowed what we have today which has changed all of our lives that's what all this speculative mania built so he picked upon it too now what I'm contending is that it was intentionally designed for that purpose that it wasn't just accidental that these bubbles are manufactured they are written like a script and they end in a way that consolidates power back to the state after people have invested their life savings and lost it so it's for looting it's for creating infrastructure it's for building out new technologies that are gonna then be weaponized against the people and it's also to indoctrinate the masses into a new way of thinking and being into new ways of living which is essentially what happened from 2000 onwards it was the start of a new era so listeners please join us over on parallomite.com where you can sign in if you remember to listen to the full episode if you're not a member yet please consider joining us because we are only just starting on this one and I'm looking forward to speaking more about this in in closing hope you are well healthy and reasonably happy and as always see you in the next one you are basic deep deep down far far in is simply the fabric and structure of existence itself peace for all men and women not merely peace in our time peace for all men and women not merely peace in our time peace in all times the fabric and structure of existence itself all men and women not merely peace in our time the fabric and structure of existence itself peace in our time peace in our time peace in our time peace in our time peace in our time peace for all men and women the fabric and structure of existence itself honestly expressing yourself peace for all men and women peace for all men and women not merely peace in our time peace in all times (upbeat music)
