In short
Earn Your Leisure Podcast Episode Summary
Episode Title
Who Really Understands Bitcoin? Trump, CZ, and the Power Behind Crypto
Hosts
Rashad Bilal and Troy Millings
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Episode Description In this episode of *Earn Your Leisure*, Rashad Bilal and Troy Millings delve into the intersection of cryptocurrency, politics, and the knowledge (or lack thereof) of influential figures regarding Bitcoin and other crypto assets. They analyze the dynamics between political leaders, their advisors, and the broader implications for investors in the cryptocurrency space.
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Key Concepts and Discussions
- Influence of Political Figures on Crypto Understanding
- The hosts draw parallels between prominent figures like Donald Trump, Kanye West, and Elon Musk, noting that they often rely on advisors for information rather than possessing in-depth knowledge themselves.
- Rashad points out Trump's handling of questions regarding Bitcoin and Binance, showcasing how he often deflects and relies on simplistic, high-level sound bites.
- Investor Knowledge vs. Deployment of Capital
- Troy discusses how many investors, even billionaires, may not fully understand their investments. He emphasizes that, in practice, the ability to deploy capital is frequently valued more than detailed knowledge.
- This raises questions about the competence of those managing large sums of money without understanding the underlying assets.
- Risk of Strategic Ignorance
- The conversation touches on the dangers of strategic ignorance among powerful figures, particularly in light of past financial scandals like Bernie Madoff’s Ponzi scheme.
- Rashad notes that trusting advisors without thoroughly questioning their motives can lead to significant financial missteps.
- Misinformation and Decision Making
- The hosts reflect on how misinformation and the influence of trusted circles can shape decision-making processes in finance and politics.
- They suggest that many people, including major investors, would likely struggle with a basic quiz on Bitcoin, illustrating a gap in understanding even among those heavily involved in the market.
- The Role of Advisors
- Discussion about the necessity for wealthy individuals to rely on financial advisors, as they cannot be experts in every area of investment.
- Rashad mentions that many successful individuals do not possess a comprehensive knowledge of money, which can lead to exploitation by those with hidden agendas.
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Key Takeaways
- Surface-Level Knowledge: Many influential figures may not understand complex topics like cryptocurrency but can still influence public perception and investment trends.
- Importance of Advisors: The reliance on trusted advisors is crucial but risky; due diligence is necessary to mitigate the potential for deceit or misinformation.
- Educational Gap in Investing: A significant portion of investors lacks foundational knowledge about the assets they invest in, raising concerns about the overall health of the investment landscape.
- Political Manipulation of Information: The hosts suggest that political leaders often manipulate details to maintain plausible deniability, which can have ramifications for broader public policy and financial systems.
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Conclusion This episode of *Earn Your Leisure* offers an engaging dialogue about the complexities of cryptocurrency, the dynamics of power and knowledge, and the critical importance of understanding the investments that shape financial futures. The hosts emphasize that while many influential figures may not fully grasp the intricacies of digital currencies, their decisions can significantly impact markets and policy.
Hashtags MarketMondays #CryptoTalk #Bitcoin #Investing #Trump #Binance #FinancialAdvisors #PonziScheme #KanyeWest #ElonMusk #PoliticalPower #BitcoinQuiz #CZ #SamBankmanFried #FinanceDiscussion
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End of Summary.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:00This is an iHeart Podcast. Guaranteed Human.
0:32aka neurolinguistic programming. Is it a self-help miracle, a shady hypnosis scam, or both? Listen to Mind Games on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Run a business and not thinking about podcasting? Think again. More Americans listen to podcasts, then add supported streaming music from Spotify and Pandora. And as the number one podcaster, iHeart's twice as large as the next two combined. Learn how podcasting can help your business. Call 844-844-iHeart. This episode is brought to you by PNC Bank. A lot of people think podcasts about work are boring. And sure, they definitely can be.
1:08But understanding a professional's routine shows us how they achieve their success little by little, day after day. It's like banking with PNC Bank. It might seem boring to save, plan, and make calculated decisions with your bank. But keeping your money boring is what helps you live a more happily fulfilled life. PNC Bank, brilliantly boring since 1865. Brilliantly boring since 1865 is a service mark of the PNC Financial Service Group, Inc. PNC Bank, National Association member, FDIC. There, the cost of houses. It did rise for a little bit. The thing about Trump, too, is that he's kind of like Kanye.
1:51Remember I said that Elon Musk is like Kanye? You did. Trump has a lot of similarities to Kanye also. Remember when they were saying when Kanye doesn't really read a lot, he receives his information from people around him. That's why he can't really explain things. Trump is the same way. Even if you're watching him yesterday, he doubled down. You would think by now, the first time he got asked the question, he had time to research who the Binance founder was. He just doubled down. He said, I don't know who he is. He said, I'm going to tell you something. I don't know. So this goes back to Venezuela, Nigeria, a variety of different things.
2:26You could tell that people are telling him things. They're telling him high-level talking points that he can remember, that it's easy to repeat. But if you ask him detailed questions, he has no idea how to actually respond on it. But he's good at spinning it as far as like brushing it off, deflecting, insulting people. But he's getting fed a lot of information and very short sound bites that he has actually no idea what he's talking about. How much do you believe him? I believe him a lot. Because when I heard the response, I didn't think he was going to double down. He actually tripled down and said, I'm going to break some news here.
3:11I don't know who he is. but then the very next line I believe was when they asked about Bitcoin and he said he's not familiar with it and then they brought up the fact of his I mean his family's firm has made billions in Bitcoin it was kind of like I believe him a lot, he's 80 years old I don't know how much of that is I feel like was true I think it's a high level as far as like do I think he understands what nodes are and the inner workings of the blockchain no I don't think so I don't think so at all I think he knows enough to have people in position. Because he's, I mean, the guy's busy, right?
3:45He's running the country. He's doing real estate. He's running. So it is understandable not to be extremely knowledgeable in a variety of different things. And I don't think he's knowledgeable on a lot of stuff. Because you could just, some stuff you could just tell. You could just tell that he's not knowledgeable. But like I said, he does a good job at spinning things off. and even when he was like they came at me they said that I was the reporter actually did a terrible job at countering that because even if you have a low level of education he was convicted of 36 felonies he did get found guilty you literally on federal wiretap trying to rig an election the way that he was just able to spin it they tried to frame me and I was completely innocent and I got off how did you get off when you got convicted of 36 felonies I think it was 34 but i think i don't know how it was edited but i agree with you there i'm like wait no there's a difference here you were convicted i think that and it might be a strategic way for his own protection exactly when i heard him say that i'm like oh he's that was the first thing i thought if i did not i know anything about this like look i'm on record i don't know we're making eight billion but i'm not really sure what's happening over there i mean right it's like almost like oh that was he just protected himself by saying that i don't even think he's worrying about protecting him.
5:04So he's the same guy that said, I can go to Times Square and shoot somebody in the face and get away. That was last administration. I mean, everything that he's done. What if mind control is real? If you could control the behavior of anybody around you, what kind of life would you have? Can you hypnotically persuade someone to buy a car? When you look at your car, you're going to become overwhelmed with such good feelings. Can you hypnotize someone into sleeping with you? I gave her some suggestions to be sexually aroused. Can you get someone to join your cult? NLP was used on me to access my subconscious.
5:37NLP, aka Neuro Linguistic Programming, is a blend of hypnosis, linguistics, and psychology. Fans say it's like finally getting a user manual for your brain. It's about engineering consciousness. Mind Games is the story of NLP, its crazy cast of disciples, and the fake doctor who invented it at a New Age commune and sold it to guys in suits. He stood trial for murder and got acquitted. The biggest mind game of all? NLP might actually work. This is wild. Listen to Mind Games on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This show contains information subject to, but not limited to personal takes, rumors, not so accurate stats, and plenty more.
6:23What's up, man? This your boy, Nav Green from the Broken Play Podcast. Look, it's the end of the season. The playoffs are here. But guess what? It ain't the end of your season. You can always tune in with Broken Play Podcast with Nav Green on the Black Effect Podcast Network. Another team who ain't going to the playoff. The Chiefs. What's the route? It's time to rebuild. Who your MVP right now then? Drake May up there. Josh Allen up there still. Oh, my boy, Matthew Stafford. Where the hell both nicks at? He ain't too far behind. He did all this talking. What Matthew Stafford is doing statistically, bro, is crazy.
6:57Bro, you know I ain't no Josh Allen fan. But Matthew Stafford got better weapon. Caleb Williams. Hey, he should be in that conversation. In what conversation? MVP. He should be in it. Listen to Broken Play with Nav Green from the Black Effect Podcast Network on the iHeart Radio app, Apple Podcasts, or whatever you get your podcast. Everything that he's done so far, I'm pretty sure he has very little care about protecting himself because... Well, he's built the protection around him. There's no consequences. who's going to hold who's going to tell him you're in trouble nobody does he put them in it's impossible for now but his kids will outlive him right and so like could there be charges that are brought allegedly I'm not saying that they're doing anything fraudulent but could there be charges in six years or eight years if they find something I think that was like one of those protective that's just how I perceived it And all I know is whatever you did with CZ, you better not do with SBF.
7:57It's not going to go the same way. He's up on that council part. He got 30 years.
8:07It would look crazy. But what do I know? What do I know? Got a lot of the best to know. I think it's interesting, right? Like the guy who creates a crypto czar says he knows nothing about Bitcoin. But that's David Sacks. That's what I'm saying. i don't but the position was him saying that he knows nothing about bitcoin might not be a lie it might not be a lot but because relatively speaking you can i mean no no nothing is a is a vague term right yeah i think he knows enough to know what bitcoin is but if he had like there was a bitcoin quiz i think he would fail but i think most people invested in bitcoin would fail a bitcoin quiz most people don't really know what bitcoin that's the scary part about it dance we don't even know the founder like how finney this stuff there's so much stuff about like if you had like a pop quiz on it most people that's investing in bitcoin would fail the bitcoin quiz i'm not even disagreeing with that i'm just saying to there's there's something about being i don't want to call it dumb so smart that you're done Right.
9:17You're investing in the asset. Like you're currently. I'm going to say the real answer to the quiz is to deploy capital. Right. Like you're all that shit. And you're benefited from it. And it's like knowing the most and deploying the least does not make you a winner. Can you take off for five years? Somebody says right now, look, we got, you know. silver mine in Mexico and is guaranteed to go up 87 % every single year. I do a presentation, you got a billion dollars. This I know for a fact because I used to be a financial advisor. So I understand that most wealthy people are not fully educated on money.
9:57That's why they trust their advisors. That's why they have a financial advisor. That's why somebody like Bernie Madoff to run the biggest Ponzi scheme in the history of the world. Mankind. These are not just stupid people. These are educated people. These are owners of sports teams. These are billionaires. They didn't ask enough questions because they're trusting this person. Like, it's like, look, I got to run a sports team. I got to do this. I got to have a legal firm. You can't be an expert in everything simultaneously. It's tough, yeah. That's why you have trusted advisors around you and you're trusting their advice.
10:29The problem is that the people that he has around him are giving him advice based off of their own personal interest. That's part of it. I agree with you. That's part of it. But there's also the part where you're actually creating positions, changing policy, changing legislation to make sure that this asset thrives. It's money. If they come and say, look, everybody here, we all going to make a billion dollars. Your son. We all going to make a billion dollars, including yourself. You give us the money. this is how it's going to work. All we need you to do is push it through. I'm not going to ask a million and one questions.
11:13I'm just saying as the average person, right? The average person is just like, all right, these are my friends. They're all rich. We have a trust. We've made money together before. I understand enough to understand the play. All right, I'm pushing it through. Yeah, I'm saying, but there's an understanding there. but that's like but i mean george bush went to war and didn't even understand what he was doing yeah it was it's true they made him they made him go to war off of misinformation he didn't like literally the longest war in united states history and they had they had a five-star general get in front of the united nations and completely lie so but i think how far deep the rabbit hole do you want to go i said no i agree i'm saying that it's true which is why i think it's like i'm gonna say I know nothing to protect myself, even though I have an understanding.
12:03I think that's true. If it goes right or wrong, yo, I don't know nothing. I'm not saying what Bitcoin, but with CZ, I think he's, and who knows, Jake, 1090, Jake, go pull up CZ paperwork and see what it is. Even with buying, I mean, maybe that's another stop, but like that. I had Binance before there was a U.S. Binance, and I'm like, yo, what, huh? Another time. yeah another time earners what's up you ever walk into a small business and everything just works like the checkout is fast the receipts are digital tipping is a breeze and you're out the door before the line even builds odds are they're using square we love supporting businesses that run on square because it just feels seamless whether it's a local coffee shop a vendor at a pop-up market or even one of our merch partners.
12:56Square makes it easy for them to take payments, manage inventory, and run their business with confidence, all from one simple system. One of the things we love most is seeing neighborhood businesses level up. There's this West Indian spot right in our community that started with a small takeout counter. Now with Square, they've been able to expand into a full sit-down restaurant and even started catering events across the city. That's the kind of growth that inspires us, and it's powered by Square. Square is built for all types of businesses, from the corner bagel shop that turned into a local chain, to the specialty market with thousands of unique items, to the stylist who's been holding you down for years.
13:36If you're a business owner or even just thinking about launching something soon, Square is hands down one of the best tools out there to help you start, run, and grow. It's not just about payments. It's about giving you time back so you can focus on what matters most. Ready to see how Square can transform your business? Visit square.com backslash go backslash E-Y-L to learn more. That's square.com backslash go backslash E-Y-L. Don't wait. Don't hesitate. Let Square handle the back end so you can keep pushing your vision forward. What if mind control is real? If you could control the behavior of anybody around you, what kind of life would you have?
14:15Can you hypnotically persuade someone to buy a car? When you look at your car, you're going to become overwhelmed with such good feelings. Can you hypnotize someone into sleeping with you? I gave her some suggestions to be sexually aroused. Can you get someone to join your cult? NLP was used on me to access my subconscious. Mind Games, a new podcast exploring NLP, a.k.a. neurolinguistic programming. Is it a self-help miracle, a shady hypnosis scam, or both? Listen to Mind Games on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This is an iHeart Podcast. Guaranteed human.
From the publisher
In this clip of Market Mondays, Rashad Bilal and Troy Millings dive deep into the world of crypto, power, and politics. Starting with a comparison between Trump, Kanye, and Elon Musk, the conversation quickly explores how influential figures often rely on high-level advisors and sound bites rather than in-depth knowledge. Rashad Bilal shares insights into Trump’s handling of crypto topics like Bitcoin and Binance, revealing how the former president deflects detailed questions and spins challenges to his advantage. Troy Millings joins in to discuss the reality that many investors—even billionaires—often lack real understanding of their assets, highlighting that deploying capital can matter more than mastering every technical detail. The clip further unpacks why those in positions of power, from political leaders to sports team owners, trust advisors and how this dynamic has led to financial scandals like Bernie Madoff’s Ponzi scheme. Together, the hosts reflect on policy decisions, protecting oneself with plausible deniability, and the strategic ignorance at the highest levels of business and government. They talk about the murky origins of Bitcoin and how most people, including major investors and leaders, would probably fail a Bitcoin quiz. The discussion closes with reflections on how misinformation and trusted circles shape decision-making in finance and politics—raising important questions about who actually holds knowledge and power in the markets. Whether you’re curious about how world leaders handle crypto, or want to understand the dynamic between knowledge and investing, this Market Mondays clip is a must-watch! **Hashtags:** #MarketMondays #CryptoTalk #Bitcoin #Investing #Trump #Binance #FinancialAdvisors #PonziScheme #KanyeWest #ElonMusk #PoliticalPower #BitcoinQuiz #CZ #SamBankmanFried #FinanceDiscussion
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