ATR: Mailing money to farmers, Bovaer Rejected, Farm Bureau Fight Continues; co-host @taylorcmoyer

Vance Crowe [00:00:00] The Ag Tribes report is brought to you by Farm Test, a field trial design, execution and analysis service that makes it easy to ask your fields which management practices perform best to start your field trials. Visit farm test ag and Legacy Interviews, a video service that captures people as they really are so the future knows who they really were. Listen now to a sneak peek of the short film, A family's legacy interview experience and watch the full story at Legacy Interviews dot com slash experience. Listening to my dad talk about working too much or missing out on certain things, you know, like it means a lot to me. Hearing that he like regretted not being around when we were younger is not something I've ever heard. I was watching it and I was like, whoa, okay, this is like a new side of Jay that's coming out. I can see like how much excitement it brought him to share the things that he has a hard time talking about to be in that room with him as that's happening. Kinda like heartwarming that he does have that emotional side when you're growing up. You know, you hear little snippets here and there like how they met, but you don't have like the whole story. It was honestly a lot more meaningful than I guess I had originally anticipated. I think in a day-to-day conversation you won't be provoked to answer questions like that. I do think that's very important to be clear and honest and say whatever needs to be said. Welcome to the Ag Tribes report, a breakdown of the top stories affecting the culture of agriculture with your host, Vance Crowe.

Vance Crowe [00:01:47] The report begins in 3, 2, 1. Let's begin. Welcome to the Ag Tribes report. I'm your host, Vance Crowe. Each week I bring on a new co-host that represents the perspectives of one of the many ag tribes that collectively make up US and Canadian agriculture. This week I am joined by Taylor Moyer. Taylor is notably known as a former crew chief in the NASCAR Xfinity series, particularly with JR Motorsports. He's been associated with the number eight Chevrolet team working with multiple drivers over the years, including Josh Berry, Sam Mayer, and Dale Earnhardt Jr. More recently after retiring from racing, Taylor founded Ridgeview Land and Cattle in 2018, a working farm located 40 miles east of Charlotte that is committed to regenerative agriculture production and creating healthy habits for livestock, wildlife and people. Taylor is also the landowner marketing and partnership manager of land Trust, a business that exists to enable the enjoyment of profitable enjoyment, profitability, and sustainability of America's underdeveloped private lands. Taylor, a huge welcome to the Ag Tribes report.

Guest [00:03:02] Thanks Vance. Happy to be here,

Vance Crowe [00:03:04] Man. It is exciting. I know when we first started talking, I was like, you know, I don't really know anybody in nascar, I don't know anything about nascar. And then I started looking you up and man, you're a big deal in this world.

Guest [00:03:15] I'm not, I'm a small peon, but I appreciate the sentiment.

Vance Crowe [00:03:19] Alright, so this week the stories we are gonna cover is the farm act and the free money that may be coming to American farmers, particularly corn, soy, and wheat. We're also gonna talk about Bovie Air, the feed additive that's gone to cattle and dairy cows and how this has been a huge controversy on X. And we're also gonna do a little bit of coverage of the Illinois Farm Bureau responding to the fact that the American Farm Bureau has not backed down and they're saying on December 20th it doesn't look like the Illinois Farm Bureau is gonna be part of the American Farm Bureau system. We're gonna do that plus the Bitcoin land price report. We're going to hear about Taylor's Peter Thiel paradox and of course his worthy adversary. We're gonna do it all in just 30 minutes while we live stream this. So let's get going. Alright, headline number one, the Farm Act may bring billions of dollars to farmers just for waking up in the morning. The $21 billion Farm Act of the or Farmer Assistant and Revenue Mitigation Act of 2024 would bring significant payments to most producers. The corn payment, according to the calculations of an economist at U of I would be $100 per acre. Soybeans would be $49 per acre. Wheat would be $85 an acre, and cotton would be $200 an acre. This is given two farmers because they believe that their, the amount of money they've been able to make this year in this current economy is unstable.

Vance Crowe [00:04:56] I ended up reaching out to farm journals, Ty Morgan, one of the great reporters in agriculture to ask her what's going on with the Farm Act and she said, Hey, I actually am just getting on a call with Senator John Busman, let me let you know what he said. She came back and said, he said quote, we simply have to come up with a package that helps them get through this year. The last two years, as I mentioned earlier, are the worst ever as decreases in, in income and then going forward, if we don't get the risk management tools adjusted for inflation, then the bankers aren't going to have the certainty that their risk is going to be less and it's going to be difficult for a lot of farmers to get the financing that they need. So Taylor, you hear this about farmers getting payments from this Farm Act. What do you think? Is this a check you're gonna be getting?

Guest [00:05:47] This is not a check. I will be getting full disclosure. I have used some subsidized programs like LRP here on my farm. I use livestock risk protection, so I want to put that out there. So I'm not a complete hypocrite, but I fully believe in, you know, fair and level markets and I don't think this is truly a payment for the farmers. I think this is a bailout for the equipment manufacturers and the seed companies and the chem companies, and I think this is just gonna inflate all inputs even more. My number one motivator in life right now is to make farm makers more profitable and have farmers be able to compete with real estate prices. That's especially important to me around here, while I, the last thing I want to see is a subdivision, a condo, or a parking lot built on any ag acres. So I don't exactly know how to mitigate this because I, I have row crops in my family that I hold very near and dear, and I know that, I know that the last two years have been tough, but I also believe in good business and sound business principles. And I hope two years of restricted liquidity doesn't knock your business out. Maybe you don't have the strongest business if that happens. So I tend to be a hard ass when it comes to these things. Oh, excuse my French, I think there's an auto manufacturer that should have failed once upon a time and got bailed out and I just don't believe in bailouts.

Vance Crowe [00:07:06] Man, I love the way that you frame that because you're exactly right. Those, those checks are gonna go straight to the seed companies and the input companies, the farm equipment companies that are gonna just continue to raise prices because as farmers have more dollars, as there's more stuff showing up, then what they're gonna do is go after whatever the limited supply is and that continues to bid up prices. So you're exactly right. I actually was thinking, it didn't appear to me that farmers were necessarily going to advocate for this, but if you have these input companies with their lobbyists going out and saying, oh, it's really hard for our farmers, and look, you can make a good name for yourself, Mr. Senator, if you can get this money a allocated to 'em. That makes a ton of sense to me.

Guest [00:07:49] Yeah, we know, we already know the input companies are getting squeezed. There's been some layoffs, right? I, I would like to see businesses adjusted to current prices and current marketing conditions rather than trying to have the government prop them back up to where they would want to play ball. Why don't we bring tractor prices back down to Earth?

Vance Crowe [00:08:08] Yeah, that's a great point actually, that should be a story right now. Cargill announcing they're gonna lay off something like 10% of their workforce. There's all kinds of layoffs going on throughout agriculture and really it's going on throughout the economy. So it's very difficult to say, well, because it's agriculture, we need to be able to get this money there. You know, there are a lot of of organizations that are having to make tough decisions. Car manufacturers are, I, I saw NZP on X talking about how, you know, GM is doing huge writedowns and Nissan is gonna do huge writedowns. These guys aren't getting the same bailouts and I don't think they should get 'em either.

Guest [00:08:48] Yeah.

Vance Crowe [00:08:49] Well let's move on to headline number two. This is about a product called Bovie. Mr Fireside, a an X personality put a, a thread out about the cattle feed additive Bovie. And the backlash was a swift and harsh X was on fire over this additive cattle have been getting attacked for years for the amount of methane that they produce by climate change activists. And, and so because of this there has been an emphasis on how can we continue to have the same milk and beef produced and yet have less methane produced from the gas that comes from cows. So in Canada and in the United States, Canada since January of 2024 and in the US since May of 2024, they've been using a, an approved an FDA approved additive called Bovie, which gets added to the food and it apparently lowers the amount of methane that is produced in these cattle while this fireside chat goes through and says, I'm gonna point out all the reasons, one, that this, the cattle methane isn't a problem. And then two, that this additive is being, it remains in the cows, it remains in the milk, and when people ingest it, it's gonna be in humans and we don't want this. So I wanted to quickly play. There was a, a video of a, of a cattle farmer in I believe Ireland that kind of gives a quick overview of this.

Vance Crowe [00:10:22] Its Bovie and methane inhibitors, possibly the dumbest way to reduce carbon ever. There has been a massive backlash against Arla over the last few days because they were feeding a small number of their cows. A synthetic chemical called three Nitro op propanol or Boer. Does it affect milk? Technically, yes. Is it unsafe? Probably not. But the facts don't matter. What is clear is that the public do not want this in their food chain. Arla and the retailers, your customers don't want to take the risk. And as a farmer, I want to say thank you to the British public because the entire concept of methane inhibitors is fundamentally flawed and was going to cost farmers a fortune. Let me explain. Now, this might take some brain power, but stick with me. I promise you it's worth it. Methane inhibitors offer a capped benefit, but a recurring cost, a combination that is totally unique in the world of carbon reduction strategies. I have a, okay, so this was from the TikTok or theory ni. I want to thank him for putting that together. He goes on to talk about how you're gonna have to keep doing that additive for with those cows if you want 'em to not produce that methane. What do you think, Taylor, did you see this dust up on X? And what do you think of products like Bovie?

Guest [00:11:50] I did see this dust up, this one hits, hits close to home and near and dear to my heart. I I think he is spot on. And that was my first point where if you already are in the dairy industry or the meat industry, I think you both industries are just regaining consumer trust. Dairy and meat's been villainized for the last, I don't know how many years and that'll be in my second point, but why in the world would you put more additives in food? I mean, we already seen milk go through people not wanting, you know, organic type certifications and different chemicals being excluded, whether it's a one, A two, I know it's not a chemical, but RBSD free, stuff like that. There's only three things humans need for survival. Food, water, and shelter. People are tired of having their food messed with, just let it be food. I mean our current administration, there's gonna be maybe some, some stuff coming down the pipe with that, but I'm thir mid thirties. I have my first child on the way. I just want clean, pure food for my child. It shouldn't be such a chore as an educated adult to figure out what they're gonna put in their bodies. So I think it's a terrible, terrible marketing move for anybody what one, whatever industry to put more chemicals in their food. Number two, and, and the, the, this was noted on Twitter, and I've noted this for years. People in the racing used to gimme crap 'cause I could, I would go to fight for cows every single day. But that original study done by the FAO was known to be flawed and the media took the flawed report and ran with it at the 18% emissions level for cows with, and it was, it was, it was flawed because they did, they did the totality of carbon emissions for cows and then when they compared 'em to the transportation division, they only did the direct, they they did correct themselves and they re and they admitted they were wrong after everybody pointed out they were wrong.

Guest [00:13:40] But the media never took that. And the backlash for cattle never came back. I know Elon was just on Rogan saying the same thing, don't mess with cows. I've heard the statistic from everybody. I don't know the exact values, but I, I believe we've never had more ruminant animals on planet earth than we did, I would say pre-European contact when we had big bison herds and stuff. So at that point, it's really not the the ruminants fault. It's probably us humans. Yeah, I I just, I just, I can't get behind this at all.

Vance Crowe [00:14:11] Yeah, I I I can, I think it's worth pointing out the why this is going on, right? So there's been so much impetus on cows that the animal companies started saying, well, hey, let's create an additive that can lower this methane. What a great thing. And then by the way, what we're gonna be able to do with these farmers is we're gonna be able to let them feed this to their cattle and then get carbon credits. And in a country like Canada where they have so much emphasis on carbon reduction and, and carbon credits, that this was kind of fed out to the farmers as another way to make money. But to your point, people are already really, really worried about this. And even if all of the scientific evidence points towards this being something that the companies are, that that is safe, it doesn't really matter. The public perception is going to, you know, completely blow this up. And so it's gonna be funny because you're gonna see people that are normally, they're like climate change and we want things to be more natural. And then also by doing this additive, you're making things unnatural. It's something that, I mean like I, I don't see this product being able to make it through this political storm, do you?

Guest [00:15:26] No, I don't. I I still have, this is more conspiracy theorists, but I still believe most things we put in our bodies right now, pharmaceuticals and foods, it's still a modern experiment. We haven't lived long enough as a human race to figure out what these things are gonna do to the inside of us. How many, how many things does the FDA retract, you know, pharmaceuticals that get pushed out and pulled back, this is just gonna be another one of those and just avoid it.

Vance Crowe [00:15:53] Yeah, I mean my belief is that the, the regulation of it, the FDA, you know, getting involved doesn't make it any safer at all. It's just the only companies that get to produce things are the ones that know how to use that bureaucratic system. And the FDA doesn't have some like, oh let us, we're gonna catch this issue. We're gonna stop this thing from happening. That's not what works. It's regulatory capture. And in the reality is if you had a free market where people got to say, Hey, you can drink this milk and it's got Bovie air in it and, and that reduces methane and you can feel good about it. So people would be able to make their own choice on that. But the same thing is also true of raw milk that if you allowed people to sell that and say, Hey, this is gonna be the benefit and the downside, but we have such a regulated system that people don't have the freedom to choose. So the market doesn't choose it, the bureaucracy does. Any last words on this before we move on?

Guest [00:16:45] No, you hit the nail on the head of that last statement.

Vance Crowe [00:16:47] Alright, finally on to headline three, the Illinois Farm B Farm Bureau leaders say it is time to come together. And on November 12th, 2024, the American Farm Bureau's board of directors voted to terminate the Illinois Farm Bureau membership effective December 20th. This is something we've talked about on the show. This decision was made after the Illinois Farm Bureau informed the A FBF, that country financial would no longer require non-farm insurance policy holders to be members of the Farm Bureau. That change is set to take place in 2025 and it could result in a significant loss of memberships both for the Illinois Farm Bureau, but then the American Farm Bureau, which counts those members and gets membership dollars from them. It's, this is something the American Farm Bureau said, Hey, no, no, we don't want you to do that. Well the Illinois Farm Bureau has been getting out in front of this. In fact, they put out a very long interview that they did on their own radio station where the president and one of the other executives on the staff came together and said, look, just so everybody is aware, we actually had a legal fight with the American Farm Bureau back in the eighties and then we won a legal injunction with them that said, you're not allowed to tell our insurance company the, the policy provider that we use how to run their business. And the reality is the business of insurance has changed quite significantly and they've lost more than 50,000 members policy holders because people wanna be able to do stuff online, they don't want to meet with their membership host.

Vance Crowe [00:18:27] And so this is a way for country financial to be able to reorganize, figure out how to give the best deal to their consumers. And this is also trying to us to keep our relationship with the Insurance and Farm Bureau and you guys interfering with this is interfering with the Illinois Farm Bureau. You know, this shouldn't happen and we're gonna let a judge decide this. So they, they are suing in McLean County, which is not far from my hometown, and they're gonna let this see if the American Farm Bureau really can kick the Illinois Farm Bureau out for this. Taylor, what do you think this internal fight with just this one state, are you hearing about this? Does it matter to you that Farm Bureau is in a fight with one of its member states?

Guest [00:19:09] It does. I'm a Farm Bureau member myself. I use Farm Bureau insurance as well here. So I know that on both sides I have family in Illinois Farm Bureau members I believe. And on Tuesday I heard Sonny Duval speak at the Virginia Farm Bureau conference. I also hand, I also work with a lot of farm bureaus throughout the us. I don't think this infighting is good. I think it's a slippery slope. Farmers are already a minority, right? So we need to stand together and stand with each other. I I, I can see both sides of this, but at the same point, I do believe in farming and in farming business sometimes we are, we are a couple years behind and I don't think we're working on the right. I don't think Farm Bureau is worried working on the right thing. I think Illinois Farm Bureau is saying we're losing membership, but because we're behind the times, that is my opinion with some other farming institutions that I'm also part of. We're, we're behind the times we need to come up to modern business standards to compete with the other businesses that may not necessarily be farmer businesses within the same industries. And that is a sentiment I took from, from hearing the president of the American Farm Bureau speak the other day. It was a great speech, but it wasn't speaking to my generation, the next generation of farmers. It was speaking to the older generation of farmers.

Vance Crowe [00:20:30] Yeah, I think that this is a challenge that the Farm Bureau has to really face. Some of their states are extraordinary at getting young people involved and to become a part of the process. They do great work in helping them, these young farmers figure out like, Hey, if I can't go on and buy land, how can I get break into the, the whole situation? I, I had a a great chance to go out to the Virginia Farm Bureau a couple of months ago and you see what they're doing for their young farmers and ranchers, but those states that aren't doing it, they're aging and eventually get to a point where you will age to such a degree that there's no going back for it. So I think it is very important that whatever they do it is keep their membership strong. 'cause it's what makes Farm Bureau hugely more powerful than the number of members that they have. And then keeping young people talking directly to their issues is super important. Any last words before we move on?

Guest [00:21:24] No, I just wanna reiterate that I, I do think Farm Bureau and having some lobbyist groups to help fight for our rights is, is very important. I just wanna see the group be as strong as it can be.

Vance Crowe [00:21:36] All right. If you hear news that you think we should cover or you could be like my good friend out in Arizona, Sonia who called me up and gave me some background on some of the stories that are going on. You can always d DM them to me on X and, and also comment here, we just got a comment that came in. I wish some of the other ag organizations would work together. Illinois Farm Bureau, Illinois Corn, Illinois soy are all in the same town. That's from Cory on XI agree. They're all up there in Bloomington, Illinois. Alright, moving on to the Bitcoin land price report. This was a huge week for Bitcoiners. This was the week just yesterday where Bitcoin crossed for about 24 hours, a hundred thousand dollars per Bitcoin. This is a long road that has gone on for people that have been engaged in Bitcoin. A lot of the Bitcoiners now they may be started in 2018 or 2020, but imagine for those people that started all the way back in the 2010s that they have gone from being in the hundreds all the way up to a hundred thousand dollars. It was quite a week. We, but let's talk about you and where you're from. Taylor, you are in Union County, North Carolina. How much is an a an acre of good farmland going for there?

Guest [00:22:55] I had to look this up 'cause I bought my land a couple years ago and it was much, much cheaper. Union County is, is experiencing urban sprawl very quickly. I would say an average acre of good farmland around here that's real croppable tomorrow would be $15,000 an acre.

Vance Crowe [00:23:10] Well now that bitcoin's almost at a hundred thousand dollars. It, it moved from, it's now at $96,994 this week. So it's just a little bit down from where we were at Thanksgiving actually. That means that if $15,000 US dollars per acre, it's 0.1552 Bitcoin per acre. In other words, one Bitcoin would buy you 6.4 acres of farmland in Union County. How does that strike you, Taylor?

Guest [00:23:40] Yeah, I mean that's way overvalued for farmland. The problem is the farmland's not valued as farmland around here. It's purely valued as as real estate now

Vance Crowe [00:23:48] What do you mean it's overvalued?

Guest [00:23:51] We can't, I mean I know on a cattle even stacking as many en enterprises as we do cattle can't make this farmland pencil. I don't know the numbers in inside and out for row crops, but I do, I doubt that would as either, would either. Yeah, it's all valued at real estate value right now and you're seeing a lot of field edges get turned into housing tracks.

Vance Crowe [00:24:12] Yeah, it is, it is truly amazing how far land prices have gone beyond the utility value. I talk about that all the time that Bitcoin really could help bring that back down. One of the things that's interesting to note about Bitcoin is if you're watching the price, that's one thing. Another thing to watch is what's called the hash rate. So the hash rate is how much compute power is going into trying to get that little bit of Bitcoin that's thrown out every about 10 minutes. And the hash rate is the cumulative power around the, the, the world that's going towards this and places like Ethiopia of all are, they have really, really cheap access to energy and they are already adding a huge amount. I think I heard something crazy like 2% of the hash rate is being generated in Ethiopia and they're planning to double their hash rate in the next month or so. So we are going to watch not just the Bitcoin price go up, but we're gonna watch a whole lot of countries have an immediate way to turn their energy surpluses where they have or even to generate energy in a way that they haven't before over the next a little while. So I'm pretty excited about it. Alright, we are gonna move on from the that to the Peter Thiel paradox, which is where I'm gonna ask Taylor. Taylor, what is one thing that you believe that almost no one in your ag tribe agrees with you on?

Guest [00:25:38] I believe that production has no correlation with the success of an ag operation. Weaning weights, pounds of milk produced bushels per acre do not impress me and I don't think that has any correlation with whether you're successful or not. I think that should be measured by a, a sound set of financials for the business. Some good soil analysis and looking through the window at the family dinner table at night and seeing how many people are still there and getting along.

Vance Crowe [00:26:08] Wow. When you say this, what do you think people's argument against it would be?

Guest [00:26:15] I, there's, you can shoot holes all through it. I just think the, the biggest and the shiniest farms that do 300 bushel acre corn doesn't necessarily mean that, that they're making money every year. They may have input costs that have risen so much. It doesn't mean that everybody in their family is getting along and they, and they sleep well at night. Which I guess it all, it all depends on people's definition of success. But I think success in my eyes is a healthy business, a healthy family and healthy land.

Vance Crowe [00:26:43] You know, that brings to mind one of my, one of my favorite people in the whole world. A good friend of mine, Lyle Benjamin a few years back, maybe five years ago, wrote an article. He had been the president of the, the Grain Growers of Montana and he left farming. He said, look, when I look at it to pencil out, I can continue to build larger barns and get bigger equipment, but it is not penciling out and I don't foresee that it's going to, and if I want to keep my family together and I want to put them in a sound financial position, I need to get out of it because what you can produce on this land isn't worth that. And it reminds me that people have to look at what they're actually doing and figuring out is getting bigger, bringing me closer to what success is. So I think you're dead on on that. I am, I am convinced and I I I think I'll give you a solid seven five. It's, it's good but it's not too controversial. I think there are a lot of people that want to agree with you on that.

Guest [00:27:37] Okay.

Vance Crowe [00:27:39] Okay. And now onto the final segment. This is the worthy adversary where we try and spotlight people that keep us out of ideological echo chambers. So this is where I'm gonna ask you Taylor, who is one person that you respect but you really disagree with?

Guest [00:27:58] I I really don't have a good answer for you. There's nobody, I looked way back through my Twitter history, my ex history, and there's nobody. I respect a lot of people. I, I feel like I needed to put where my money, where my mouth was and I need to be in ag for a couple more years before I really spar with people. I will say there's a side of ag that I don't agree with though, and I can give that as a half-ass answer and that would be the registered seed sock business is a, is a is a side of the business. I've tried to put a pencil to and figure out the business model and I cannot do it. And I have a bunch of people that I'm close to in that industry and I value their opinion and I think they do good things, but I, it's a side of the business I can't figure out and to that they're kind of my adversary.

Vance Crowe [00:28:38] Okay, so tell me what, what is this group? I don't know anything about this.

Guest [00:28:42] Sure. So if you were seed stock would be raising cattle for to sell, you know, bulls and, and cows and they're, when you see bulls selling for quarters of millions of dollars at sales and you see sales, you see bulls and, and, and genetics being sold for returns that, you know, the average cattleman can never return and you can't pencil quite pencil input cost of these bulls and, and how the money's getting exchanged. It just seems to be a, a business model. I can't put a pencil to maybe, maybe they're way smarter than me. They very well could be. Yeah. Can't figure it out. So it's my adversary.

Vance Crowe [00:29:19] Well I I think that is a total cop out, but I'm gonna give it to you because you came up and you and you took a shot at an industry and I am certain that people that are in that part of the industry will reach out to you and and tell you what they think and it should spark a good conversation. That's the value of having worthy adversaries. People that you don't agree with. If you are interested in a very interesting list of where the adversaries of which Taylor didn't add a name to, you can go to my list on my ex, I will include a link to it in the show notes. But I am glad that, that you thought about it and it's always good to be humble about taking shots at people.

Guest [00:29:58] I just,

Vance Crowe [00:29:58] When

Guest [00:29:59] They, when they come to take a shot, just bring some numbers.

Vance Crowe [00:30:01] So Taylor, if people wanted to learn more about your business, why don't you give a quick rundown of land trust and then where people can find you on that.

Guest [00:30:11] Oh wow. Yeah. If you wanna learn more about land trust, just go to land trust.com or call our number in our contact. You'll talk

Vance Crowe [00:30:17] Well is it, tell 'em tell 'em what it, I was talking it's like an Airbnb for hun allowing people to come hunt on your land. Is that accurate?

Guest [00:30:24] Yeah, it's the Airbnb of outdoor recreation. It's a two-sided marketplace where we link up farmers', ranchers and landowners to people in the outdoors that wanna recreate and we help you generate income through your land.

Vance Crowe [00:30:36] Well, I mean one thing you guys maybe not be able to tell on this quick interview is like how fantastic Taylor is. I actually, he reached out to me on x, he wanted to talk about the show. We ended up having a great conversation. I invited him on and I'm so glad I did. Thank you so much Taylor for coming on.

Guest [00:30:55] Thank you Vance.

Vance Crowe [00:30:57] Alright, I am going to wrap up the show in a little bit of a different way. I'm, I'm gonna talk about something that I wanna share with you as, as a listener. A really important milestone happened this week and I spoke about it at during the Bitcoin land price report. And that is that Bitcoin hit a hundred thousand dollars per Bitcoin. It didn't stay there and it'll probably fight all around in that area, but because of this, there was a whole great deal of celebrating and people talking and being excited and there was a video that came out, a guy, it must have taken him hours if not days and weeks to put this together. And I'm not gonna show the whole video 'cause it's 13 minutes, but I did wanna play a part of it. I wanted to play a part of it because I think that it hits some points about the value of Bitcoin and I want to talk about that for just a moment. So I'm gonna play this two minute clip of a larger 13 minute video because I think that you will find it to be quite valuable. The reason why Bitcoin is so powerful is that it aligns the incentives to me it's garbage. They can be as greedy as they want. I'm not gonna take real money and put it into this thing. It's never gonna happen. They are being forced to promote a freedom tool. So I've got gold and I've got Bitcoin. In fact, now crypto's bigger than my gold holdings. Bitcoin is

Guest [00:32:29] The

Vance Crowe [00:32:29] First system of money that is not controlled by

Guest [00:32:33] Any

Vance Crowe [00:32:33] Entity that is completely decentralized. This is financial inclusion, that this is a, a network and a monetary system that doesn't hold any bias. And there's no intermediary that could tell him that he's not allowed. This is the people's money. Understanding that it's not just currency. Understanding that it is a platform for trust and your trusted third party is a hundred thousand computers, private property rights, rule of law, honest money. That's what our founding fathers wanted. That's what Bitcoin is. Bitcoin will have been a story about when a bunch of imperfect humans met a perfect machine and what happened. The idea that we should be ruled by rules, not by rulers. Bitcoin doesn't have classes. Everyone is the same before that set of rules. Bitcoin is an alternative to modern central banking. It is the concept of decentralization applied to the human communication of value. The Federal Reserve is one of the most transparent central banks in the world. We explain that's a statement. What, what do you fear? All of these political systems, all these economic systems throughout the history of the human race, they've been collapsing because of unsterile money. We in this room are using a technology that has taken the metal and the paper away from them. And it is through this single lever that they have set flourishing societies on the path to inevitable poverty with inflation now surpassing 700% and rising the gap between the official rate of the pound and the black market has reached a hundred percent as a lira's value.

Vance Crowe [00:34:18] Plummets, shopkeepers and bakers are forced to constantly raise their prices. Farmers there are getting into terrible debt and it's driving many to suicide. So I have decided to share this with you not as a moment of celebration. Bitcoin crossing a hundred thousand dollars should be a moment for you not to feel bad that you didn't get in earlier or that you didn't know that this was going to happen. It is a moment in time to say this is real and it is going to change the world. It does not benefit me at all to talk with you about Bitcoin. You are not going to change the price of it for me. You're not going to impact it. It's not going to make my life any different. I tell it to you because I feel a moral obligation. I remember when I was a smoker and I remember thinking if it was really, really bad for me, somebody would come along and tell me, hey, like you should really quit smoking. And then I woke up and realized, wait, no, there's signs on this box and there are people telling me this all the time. In the few years, it's not going to be the most important thing that you made all this money. What's going to be important is that we took away the power of the government to steal the value of our work from us. I'm telling you this, not for you and me, but for our children. Please look into Bitcoin, learn how to make it something that you can use and that you're not afraid of.

Vance Crowe [00:35:50] This is an important moment. Let's celebrate its movement going up and its ability to preserve your value and what you contribute to the world going forward. I am going to sign off next week. We're traveling to do a legacy interview, so I'm trying to figure out how I'm gonna do the the Ag tribes report, but I am so glad you're here. And as always, feel free to disagree.