The ConverSAYtion
The ConverSAYtion is simply a couple of middle aged men sharing company and conversation. Psych and K take their time sorting through so much to say about society, culture, relationships, education, finance, technology, health, and more. Inspired to find engaging ways to entertain and enrich the lives of their listeners is their primary pursuit. Join them as they invest themselves in providing value to their audience. Welcome to The ConverSAYtion.
The ConverSAYtion
Mount Trumpmore: When National Treasures Meet Digital Assets
What happens when governments become the biggest Bitcoin whales? We dive deep into the fascinating revelation that the US government secretly holds $17 billion in Bitcoin from seized assets and how Trump's new "Strategic Bitcoin Reserve" could reshape the entire cryptocurrency landscape.
The digital currency world is experiencing a seismic shift as nations quietly stockpile Bitcoin. Iran leads with approximately 300,000 BTC, followed by China and now the United States with 200,000 BTC. This isn't just about investment – it represents a fundamental rethinking of what constitutes national wealth in the digital age. With only 21 million Bitcoins ever to exist, governments currently control just 2.5% of the total supply, creating a fascinating dynamic where scarcity meets national treasury policy.
We also explore Trump's controversial "Gold Card" proposal – a $5 million fast-track to US citizenship aimed at wealthy foreigners. How does this compare to similar programs in countries like Austria, Malta, and Jordan? Is citizenship becoming a luxury product with premium pricing? The conversation takes unexpected turns as we debate the ethics, practicality, and economic philosophy behind monetizing American citizenship and what it means for both the ultra-wealthy and ordinary immigrants seeking a better life.
From digital fortresses to citizenship auctions to the amusing proposal of adding Trump to Mount Rushmore (yes, that's actually been proposed in Congress), this episode challenges conventional thinking about value, citizenship, and the future of money. Join us for an entertaining journey through the bizarre intersection of cryptocurrency, immigration policy, and political idolatry in today's rapidly changing world.
You don't gotta do it if you don't want to. You don't gotta do it if you don't want to. You don't gotta do it if you don't want to. It's just a suggestion, come on,
Letter K:okay. So what you got, let's take a beat here for Change. An episode that was 54 minutes that's almost perfect of us talking about Starbucks. Well, no, we spent 20 minutes talking about cats and pylons, but so I get a lot of my news from. Have you ever heard of the of the of the news group 1440?
Psych:no, I like 1440.
Letter K:So it's 1440 is is a digital news company and all of their news is completely bias-free or as bias-free as possible. It is empirical news. I'm always looking for empirical news sources, right, and so I can't speak. If you're the kind of person like me who gets sick of CNN bashing Trump and Fox bashing Biden and all this kind of stuff and it just gets tedious and it's really hard to find actual news at times, 1440 just gives you raw facts.
Psych:I just want the who, what, when, where. Leave out the how and the why, because sometimes they don't even know how. Leave out the how and the why, because sometimes they don't even know how and they're trying to make up something to fit whatever they think could have happened.
Letter K:You might like 1440. All right, so anyway, this is my article. The headline from 1440 from today Do you pay for this. You can subscribe in a donation capacity to not get ads and stuff, but it's 10 bucks a month, uh so you get the ads.
Letter K:I don't I don't really think about it because I don't. I don't get to just sit here like open the morning paper with my cup of coffee and read the news. I don't get to. I don't have that kind of time. So I don't think of it. Like I'm gonna subscribe to this, uh, because I'm gonna be doing this all the time. If I'm going to subscribe to this, because I'm going to be doing this all the time, if I do decide to subscribe to this, it would be to support it more than that. I just have never done it.
Psych:Can you download the articles? Can you listen to them like podcasts?
Letter K:I don't know. For news. I'm a reader. I don't like to watch the news. How long have you used this? A couple of years.
Psych:First time hearing watch the news like how long have?
Letter K:you used this a couple years oh, okay, first I'm hearing about it.
Letter K:Oh well, you didn't trust me enough. No, I never came up, so that's all right. So 1440 this is pretty short, so I'm going to read this verbatim off of 1440s. Uh, headlines for today hit me with it. It is called a digital fort knox.
Letter K:President donald trump hosted a cryptocurrency summit at the White House yesterday, where crypto czar David Sachs and top executives from major crypto firms discussed the future of digital asset regulation. The summit came one day after Trump signed an executive order establishing a strategic Bitcoin reserve and a US digital asset stockpile with the US Treasury. The reserve will be funded through federal asset forfeitures, with an estimated 200,000 bitcoins worth approximately $17 billion American, already in government possession. The order mandates a full audit of government-owned digital assets and will hold the assets as a long-term store of value, similar to other national stockpiles. The Trump administration has said it aims for the US to be the crypto capital of the world and has halted legal actions against several crypto firms. So I read this and the first thing that I thought was wait, the us government has 17 billion dollars in bitcoin. Is that?
Psych:nuts. That is kind of wild, right what are they doing with it?
Letter K:they're sitting on it. They are making sure that little people can't become overnight billionaires by by being the only ones in the cryptocurrency market. If I'm being asked and this way predates Trump.
Psych:Yeah, it just didn't happen on. January 20th.
Letter K:Let's just spend $17 billion and buy Bitcoin. No. So what the hell? What do you think this means for the future of digital currency?
Psych:I think it's going to bring more attention to it. I think more people are going to start asking some questions about it. I think there's not enough known about cryptocurrency, digital currencies. I know one of the staff members in my class was she was asking about it, but she only asked me about it to open the conversation and then she didn't allow me to answer. She kept telling me about it and she was all kinds of wrong as far as what digital currency is and what cryptocurrency is. She didn't know what she was talking about. I think she just wanted to share and she figured I might have known something. I think I have may have mentioned something in the past and she asked me about it but then proceeded to tell me about it and and I tried to interject but she wasn't listening to me. She just wanted to talk and be listened to and so I did that. There's not enough known about it. I think the most people know, or the things that trend the most, are all of the altcoins and all the meme coins that come out and people that are just pumping and dumping stuff, and there's there's quite a bit of risk involved. You know, I've lost. I have personally lost money playing that game and I don't. I don't recommend it, but I was. I chose my words carefully. I was playing a game yeah, it was a game yeah, it was a game to me. I was doing it for entertainment purposes
Letter K:we were, we were, we were, we were fucking with meme coins we were yeah, had a good time, but this is not a meme coin. This is bitcoin.
Psych:That bitcoin is there.
Letter K:This is gonna this it's it, it's original all these countries are seeing this now as the future of international digital currency. I mean, you know, it's gonna have to go to some kind of universal thing at some point, and Bitcoin, of course, is at the forefront of that. So I asked about countries owning Bitcoin and yes, yes, it's so funny. So the United States does have around 200,000 BTC. The united states does have around 200 000 btc and, according to investorscom, the main source is from assets assets seized during criminal investigations oh, I said wow, okay, all right, I suppose that makes sense.
Psych:How do you, how do you get that out of them, though? Yeah?
Letter K:can't, because they have to give you their, their 13, their 13 word character wallet, or I suppose that makes sense.
Psych:How do you get that out of them, though, because they have to give you their 13-word character, wallet or whatever. Yes, you have to give them access to your wallet.
Letter K:Yeah, so hey, here's the deal we're going to put you in Gitmo for life unless you give us your crypto wallet key. You give us $17 billion and we're going to put you in this cushy upstate white-collar prison. What do you say? Give me a get-map You're never getting that.
Psych:So China hopes to have other people on the outside that can use it.
Letter K:China according to Wikipedia, has approximately 194,000 BTC and their main source was it was seized from the 2019 Fustokin scam. Iran looks like they have the most approximately 300,000. And they have been acquiring their Bitcoin through local miners and regulations requiring them to sell the Bitcoin to the central bank of Iran for use
Psych:Central bank of Iran.
Letter K:Yeah, so miners are mining Bitcoin and Iran made it a law that they have to give it to them. Basically, el Salvador has Bitcoin, so this is interesting. In total, the governments collectively hold an estimated you know 530,000 btc, which only accounts for 2.52 percent of bitcoin's total supply. So they don't, they don't have, they're, they're not, they don't own the bitcoin market yet, and it's so expensive now You're talking about tens of billions of dollars for two and a half percent.
Psych:The thing that's so attractive about Bitcoin is there's a limited supply. Yes, yes, yes, there's only 29 million, I think. It's supply and demand at its finest right, and the attractive part of bitcoin is anyone can 21 million. Anyone can mine it right. Yeah, you can get some. You could start your way on some today
Letter K:so there are 1.35 million btc remaining to be mined and then, once it hits 21 million, that'll be all the Bitcoin in the world. And I do agree with that, because we always see how we seem to be running into problems with inflation and such because we just print money. What happens when we move to a worldwide digital currency, currency that has no way of increasing its, its numbers, its value is set at? It's like taking all the gold in the world, putting it in a room and say that's all the gold in the whole world and that's what it's worth. You can't get any more than that. That's Bitcoin, and then the value is tied to a static object. I'm not sure how that would positively or negatively affect prices, but it's definitely a challenging economist conundrum.
Psych:I think this whole thing raising awareness and bringing more digital currency, cryptocurrency into what we are willing to use and acknowledge as actual currency and bringing in regulation it's definitely not something we have done before, it's not something that we've really, as a country, seriously addressed. It's been out there. I think one of the biggest advantages to having cryptocurrency as an option is it's untraceable and people are just like well,
Letter K:they're going to find a way to trace it. They've been working on that for years.
Psych:Yes, and I think it's well within their ability to do that. Technology, especially with quantum computing, is going to solve that problem eventually.
Letter K:Eventually, once they ask the question, it'll solve the problem, probably immediately.
Psych:Yes, yeah, it could potentially get there. As far as I know, it hasn't happened yet, which is why people still continue to put their trust in digital wallets and and such like that but
Letter K:putting your trust in digital wallets. It's important to point out how difficult and dangerous that could be right. It's estimated that 3.3 to 4 million btc are lost forever due to forgotten passwords, lost keys and accidental deletions bong.
Psych:So I had a co-worker in the bay area who was part of a bitcoin mining operation, but it was a scam and basically he was one of the people that was just being used for the mining but wasn't being granted any of the take afterwards, and he got taken for a lot. Then later he came back. He was asking me for something. He's like hey, do you have? I forget what cable he needed. He needed a cable to connect an old computer. Yeah, to try to pull off what is going on here. Oh, siren's right now. Uh, he needed to. He had a. He had a bitcoin wallet yeah, I think he had a couple and he on an old computer, but he lost the cables. He he's like hey, do you have it? I was like oh, yeah, I'll get that to you, got it to him the next day. He came back the next day to work and I asked him. I was like hey, did you find what you were looking for? I thought he was pretty much going to be independently wealthy overnight. Well, the file was corrupted and he couldn't get anything. He couldn't get anything open. He was one of those. I know we all have these individuals in our lives that it's one sad story to the next Right and he was kind of one of those guys and I was really hoping the best for him. Yeah, but it didn't work out Once again, he didn't take care of his computer, he didn't he or what? I don't know exactly what went into that, but he what did not get thrust into a life. That was because he was ready to quit his job. He's like, hey, if I go home and I might not come back, right, but he came back. I mean, I knew because he came back.
Letter K:It's so bad. He was hoping against hope that he was going to take this free cable you gave him and convert it into unprecedented wealth and return to work the next day. That's got to be devastating. Yeah, it was. So what is the direction that we're going to be be going here? Do you see in our lifetime, or even in the near future, uh, a situation where the countries of the world get together and decide that a digital currency is some international standard and just kind of no?
Psych:I don't. I don't think we get along that well. Yeah, I don't think we're getting along very well right now with a variety of things that are happening.
Letter K:We're still using. I mean, even though Bitcoin has its own perceived value, we're still considering that value against US currency. So Bitcoin isn't worth 200,000 Bitcoins, it's worth $17 billion, which, of course, the exchange rate of that would be different, no matter where you went.
Psych:Did we ever talk about BRICS. Did I ever bring it up? Does that sound familiar, brics? It doesn't sound familiar. No, not at all. So I think BRICS is the answer to NATO. It was started by Brazil, russia, india, china and South Africa started it?
Letter K:All the countries that aren't allowed in NATO, or what?
Psych:I think so, I think so, yeah, yeah, true. And so they have since expanded. And so I guess the BRICS is the original countries Brazil, russia, india, china and South Africa, and then Egypt, Ethiopia, indonesia, iran, uae have joined, uae have joined. So when I say we're not getting along if we have NATO and we know Russia doesn't want, Founded by a British economist, though. Ukraine had joined NATO and that might be contributing to.
Letter K:No, he coined the term BRIC.
Psych:I see he didn't find it To what's going on right now, and this is kind of the response of all of these other. Hey, you guys have a club, we're going to get a club, and one of the thoughts is it's like the Justice League and the Legion of Doom. It is. It's kind of elementary when you think about it that way, but one of the concerns is that they're going to come out with their own currency that's going to be able to finally undercut the dollar.
Letter K:Yeah, yeah, that's going to change the landscape of our currency, but you know good on any group of countries who can get together and do something like that, because that's where it needs to go.
Psych:And they're not just, you know, pushovers, what china and india. You've got 25 of the world. Is it just 25? I think so, they both. If we're at eight billion and they have two, a billion in each country. I know they have more than a billion on, I'm estimating, but that's 25% of the world's population in just those two countries alone. If they can come to some sort of agreement, alliance, and they can function, if they function well, then yeah, 35.2% of the world's, so they have a third of the world's population. I was being conservative. Yeah, just over a third.
Letter K:And if they gave everybody one Bitcoin?
Psych:And what we have? We have Iran here with nuclear weapons, we've got Russia with nuclear weapons. People are concerned. This is a relatively new thing. Not everybody knows that it even exists. I just learned about it recently, so sometime mid last year 18 years.
Letter K:Bricks has been an official organization. Since 2000. It was official. The term brick was coined by economist jim o'neill in 2001, the first formal brick meeting took place in 2006 and the first brick summit was in 2009. South africa joined in 2010. Yada, yada, yada. And it goes on to has eight, 18 years from its first meeting in 2006.
Psych:Yeah, so, but all those countries can also use Bitcoin. They can also use any of those cryptocurrencies, so they don't necessarily have to reinvent the wheel, although they might, and that will be competition to any other currency that currently exists.
Letter K:There are a lot of cryptocurrencies out there. Trump made one. Remember I bought that meme coin that was going to make rum. What was that? Oh yeah, it was like something, some pirate coin or something, yes, how did you do no they got rugged. So they released a micro brew in Australia. And then the guy who started the whole thing he rugged the whole thing and took all the money.
Psych:Sounds about right.
Letter K:Yeah. With you. And what was it? Safemoon, safemoon, is that what it was? Oh, that's looking safe. And they were doing really good until they got greedy and they were doing really good until they got greedy. I think they might be one of the organizations that Trump has stopped prosecution stuff against.
Psych:No, I don't think so. No, it was the owner, the CEO he took off with he rugged. Yeah, he was accused. Here we go. They were traded on the blockchain History version one. Okay, v2. All right, lp hack and fraud indictment. So a couple years ago, hackers exploited a security flaw in the smart contract SafeMoon's liquidity pool, which saw $9 billion USD worth of SafeMoon tokens depleted from SafeMoon's liquidity pool, which saw 9 billion USD worth of SafeMoon tokens depleted from SafeMoon's liquidity pool, causing a drop in the token price. After negotiations with the SafeMoon team, the hacker agreed to return only 80%. 7. Did I say billion? I said billion.
Letter K:Yeah.
Psych:I said billion, 7 million of the stolen liquidity and $7 million of the stolen liquidity and kept $2 million of the stolen tokens Indictment fraud. So this was the CEO here, but Lambo.
Letter K:Yeah, when Lambo, when Lambo, yes. So I have friends who still do a lot of crypto and if you ask them what you should be doing with crypto, they just say buy Bitcoin and that's probably the safest bet. This is not financial advice, but if you get into the meme season, the meme coin season and all the it's fun, it's kind of exciting, it's kind of crazy. I mean, you spend $40 and you get a trillion or something.
Psych:Yes, if it goes to a dollar Only. If so, you'd have more money than the United States government.
Letter K:Yeah, but think about it. Everyone knows about the whole Dogecoin thing and Elon Musk is totally trolling the crypto meme landscape by naming his Department of Government Efficiency Doge. But there are just thousands of these coins that are just running off of the Ethereum blockchain all the time, and you only heard about the one. So that gives you an indication of their success rate.
Psych:So I don't know if you're familiar with this guy you probably are Coffee Zilla, this channel on on youtube. If you want to know if something is potentially a scam as far as cryptocurrency is concerned, or I mean he does other things. Basically, if it's a scam, he's gonna, he's gonna know about it. He's his. His radar gets up there a little bit sooner than most and he's seen so many of it. Um, if he's telling you it's, it's bad and I was listening, I I watched him telling me safe moon's terrible yeah I was like you know what? let's just let's find out
Letter K:and now and now you've got trust issues, but you trust this, this guy, I trust this guy, yeah, so I don't want to get into cryptocurrency.
Psych:It's more like why is Trump doing this now? Why, how are? we going to benefit.
Letter K:It sounds kind of like he's almost taking credit for it because, like you pointed out, there's no way that he did this. He just said hey, we've got this, I did it. I think he's just taking credit for it because, like like you pointed out, there's no way that he did this. He just said hey, we've got this, I did it, you know I think he's just taking credit for it. But yeah, all the but, all but all of these countries are. You know they're. They're they're they're forcing their citizens to give them bitcoin. They're. They're seizing assets through through illegal activities. They're doing these different things and they're not just deleting the Bitcoin, they're keeping it. I think that in the next few years, we're going to see and maybe Trump kicks this off we're going to see this arms race of cryptocurrency. We're going to have these countries putting money into Bitcoin. I mean, think of it as an investment strategy. We're going to have these countries putting money into Bitcoin. I mean, think of it as an investment strategy this 200,000 Bitcoins worth $17 billion today. But if Bitcoin continues to, do like it does how long before 200,000 Bitcoins could pay off the national debt? Sure.
Psych:So I mean, I just received an email a few months ago from this guy who had 100 kilos of gold and he just needed some Bitcoin and he would ship it right over to my house. 100 kilos of gold, gold bullion, gold bars right to my house, oh you don't want Target gift cards.
Letter K:So the Bitcoin Act proposes that the US Treasury acquire up to 1 million Bitcoin over 5 years and hold it in a strategic Bitcoin reserve for at least 20 years as a store of value to strengthen the nation's balance sheet. And then you know, then there's some stuff, the nation's balance sheet, then there's some stuff Because we're spending too much already. Yeah, so hypothetically, by 2049, if the United States owned a million Bitcoin, it would be worth $21 trillion. I don't know why they chose 2049. Maybe somebody likes the blade runner sequel now.
Psych:I think they chose that because that would that's the year that we would pay off our current national debt right yeah, yeah yeah well, well, because what's our national debt?
Letter K:right now, it's 36 trillion dollars, oh, okay. And at a compound annual rate of 5%, in 2049, it'll be worth $116 trillion. So if we continue on the same path that we're on now, owning a million Bitcoin is going to barely make a dent in our national debt in 2049.
Psych:Yeah, we're going to have to do more than that.
Letter K:And in the theoretical example, that is on this website that the 1440 link took me to. So who can say? Who can say, well, that was my Bitcoin article.
Psych:Money, money, money, money, money. Yeah, I thought that would be kind of fun. Yeah, I like it. I mean, I like. I know, whatever people think about the current president and the current administration, they are definitely doing things people are unaccustomed to. They're not just outside the box. I think they threw the box away. I don't think a box exists anymore. They're just making stuff up as they go along. And sometimes, sometimes and I'm not making a statement that's for or against this current administration but sometimes and I know this just from my own personal experience, especially at work, and I know this just from my own personal experience, especially at work Doing something you haven't done before provides more benefit. Taking a road that is less traveled or blazing your own trail can have a result that is optimal and I think it gives people perspective. They start thinking about things in ways they haven't thought before. They start using parts of their brain they haven't used recently to attack a certain problem. So sometimes bringing a possible solution to the table, even if it's wrong, even if it's really wrong, will cause people to think. It's just causing people to actually think about what their position is and what their stance is on something, and what is best and what is far from it. Right, something as simple as hey, where do you want to go eat lunch? And I say something, absolutely. But let's say I say something absolutely horrendous, ridiculous, doesn't make sense at all. Unexpected, right, raw spam from the can. You'd have to think about something in a certain way. Right, you'd have to think about something in a certain way. Right, you'd have to think you'd. Actually you could just go through the motions. You couldn't phone it in. You'd have to. Actually, did you refresh my glass? You're welcome.
Letter K:Oh man, I have. I didn't do new as much as I thought.
Psych:Cheers. Right, I had a student come up to me yesterday and he was encouraged by the person working with him to engage. And here, talk, go talk to an adult. Okay. Came to me, hey, what did you have for lunch? And I said I had some small children, so you're, so you're, what a dick. And so his response was but, but he was, this particular student was conditioned and probably would have just phoned it in what did you have for lunch? It's a safe question, right? Oh, uh, oh, that sounds nice. Oh, I bet that was good. He already had some sort of prepared responses Ready for retail, correct, and he had to stop and actually think about it. He's like, oh, you had some small children, huh, and it's like they were scrumptious. It's like, oh, and it was completely out of this world. And in many cases I mean I probably would have been fired from teaching if it was a kindergarten class and I was telling them you ate, alan.
Letter K:You're still throwing the line here.
Psych:Yeah so, but the point is, sometimes it takes the absurd to drive people to engage their minds enough to sort out what is and what isn't, and why and what do I believe and do I still believe it, and we've always done it this way, and is this way still the actual best way to do things?
Letter K:So I'm a big fan of trying to get people to reevaluate their perceptions, and we've talked about this in the past. It's interesting. So what you're saying is I need to engage my guys at work in the most ridiculous way possible just to snap them out of running going through the motions
Psych:yes, I have done that with all sorts of people and it has provided me value. It provides contrast, right? They expect the you to show up and be you, and when you provide them something outside that, okay. Sometimes it takes the most terrible thought and idea to get people to analyze the situation and go no, no, he doesn't do that, we're going to do this. Oh, I'm glad you thought of that. And then when they think of it, then it's their idea and when it's their idea, then they own it and they're more likely to make that idea succeed because it's theirs.
Letter K:Yeah that part I do. Do I make people come up with their own? I know you do, I know you do, I like that, I like that. So what's uh?
Psych:all right, so next on the psych parade here okay, so we're talking about money and trump wants some of it and he wants some of it from other people in other countries who want to become citizenship citizens here. Have you heard of the gold card?
Letter K:no, okay, so trump.
Psych:Trump is rebranding what it means to be an american citizen. He says, no, they're a green card. It's not. It's not a green card anymore. It's better than that, and you know it should be. It's so.
Letter K:It's so huge and it's big and it's grand and billions and billions of people are going to want to come here. It's going to be an amazing thing with the gold card yes, yes, all that, all of that.
Psych:So the gold card jesus, the gold card is is is a fast track way to US citizenship that's being proposed by. Trump and the cost is $5 million. And if you would like to become an American citizen so you can pay to play, you can If you have the money. There is a little bit of a process. They're going to vet you. You have to definitely be worthy and you can. You can come to america, you can get your, you can get your card. you can be a citizen that has to be one of the most ridiculous ideas I've ever heard in my life okay, yes, I kind of thought that too, until I found out what other countries are charging people to become citizens in their countries so let me, let me lay the foundation for why I think this is absurd.
Letter K:Okay, go for it. I'm rich, you buy, buy, no, no, buy. Rhetorically, not me personally say I'm rich,
Psych:say say I'm no, but you are, because if you make more than fifty thousand dollars, a year in the world. You are richer than 95% of the world's population. Yeah, so okay.
Letter K:Say I'm super rich, say I'm mad rich. I'm so rich that I have money to burn in excess of $5 million USD, and so I want to become an American citizen. Yes, I would submit that. Why would I want to become an American citizen if I'm already rich, wherever I'm at? I'm so rich that I could just pay to become an American. It seems silly to me that that we're, that we're trying to cater to the, the, the ultra rich, when? Why would they even care? Why? Why? Why, when? It's a great question why, when we have millions of people who have come across our borders in the last few, few to few to few to several years, who just want a better life, who've got nothing, who, who, who are just are just hoping, against hope, that we'll let them in for free, why do we care about the half a dozen people worldwide who'd be like oh, I want to be an American, give me the gold card.
Psych:To use your words. I submit that I've been saying that a lot lately.
Letter K:Yeah, I've been saying it at lot lately, yeah, yeah, but I mean I've been saying it at work too, it's, I find it. I find it to be a good way to to to present something where it doesn't sound like I'm arguing. So I would like to submit this as evidence, so that's why I've been doing that.
Psych:I like it. I don't dislike it, but if you had the ability to rise to where you are currently in your own country, wherever that may be outside of the US, and you have a surplus, you have the $5 million-plus just lying around that you could use. If you have the ability to do that in the country that you're in, I submit that you would have more opportunity and more resources in a country that is bigger and richer, so that you could multiply your potential exponentially. In fact, I think you could reach more people. You can make more money. You could if you. Who are those people? The people that have that? They're business owners, they're running things, they're in charge, they're smart, they're intelligent, they're communist, communication skills are stellar. They have all the qualities, and so trump's proposal is these people are the best at what they do. Bring them here, let's get them here and make america. That's his proposal. Okay, so let me, let me. Let me read the first part of this article. You can you. You can you, you can expand upon your thoughts.
Letter K:I have not yet begun to chip away at this.
Psych:All right. So this is from CBS News. Trump proposes offering 5 million gold card to wealthy immigrants. Here's how it would work. Okay, so this article has been updated on the 5th, so three days ago. As of this recording, president trump, on february 25th and I actually watched this unveiled a new pathway to residency a gold card aimed at wealthy foreigners willing to pay millions for the right to live in america. Well, doesn't it? In the us, that term is a play on the green court green card, more officially known as a permanent residency card, which allows non-citizens to live and work permanently in the us. Green cards are most frequently awarded to foreigners who marry US citizens or those who receive one through their employer, with the latter process taking an average of three years to complete, according to the Cato Institute. For $5 million this is in quotation marks we will allow the most successful, job-creating people from all over the world to buy a path to US citizenship, mr Trump said in a March 4th speech to a joint session of Congress. So, he said this during the joint session. Yeah, it's like a green card, but better and more sophisticated, and these people will have to pay tax in our country.
Letter K:I like that. It's's better, it's more sophisticated. All you have to do is give us the five million up front. We bring you in through the gulf of america and you can live in texas I like it, the gulf of america dude. So I'd be curious to see how many of these rich elites because if you strip away Trump's terrible word choices, I can see what his thought process is the idea of attracting the best and the brightest job creators, business owners, that kind of stuff, the brightest job creators, business owners, that kind of stuff. But you live over here in the Ukraine or in Omar or something like that, or Iraq, and you want to come over and you've got the money and you're like, well, I'm going to make more money. I'm going to make so much more money coming over to the US, because over here in Kuwait I've got this widget that's made me a multimillionaire. It seems like a risky business prospect to just uproot your whole thing in the hopes that you're going to make even more money in the United States. So I would be curious to hear from the people who are considering this and what their research and thought process is on the possibility of doing that.
Psych:So here here's some countries that charge for their fast track programs Austria 3 million to $10 million, processing time one to three years, malta, 700 and and basically three quarters of a million euros. What's that, us dollars?
Letter K:even more. Right, yeah, it is, it is uh, cyprus.
Psych:I don't think I could identify cyprus on a map. No, I couldn't tell you what's that. Uh, turkey four hundred thousand dollars in real estate. Uh, basically, many of these countries on the list, okay, so here's the first one You've got to buy land. So it's real estate or a donation. You have to make a generous donation. If you donate enough, here's a real estate donation fee for Granada. Jordan. Look at this for Jordan.
Letter K:So you buy land and you give it to the government.
Psych:I think they want you to buy and own the land. Yeah, okay, that makes more sense, because now that's your land and there's a certain amount of upkeep. I remember when what was it? Italy was selling villas for a dollar. Remember that I almost bought one.
Letter K:Why didn't you? Because you'd have to know that it would be for a spender like yourself. It would be the gift that keeps on giving. I know, I know.
Psych:But the villas were run down and dilapidated and you had to bring them back and you had to live there for so many months out of the year and you had to live there for so many months out of the year and you had to do. There were so many other provisions that were it made it untenable at that point. So, uh, yeah, there's all these other countries already doing what we're doing and they're they're currently charging more than what we are currently charging. And trump is like why are we just giving them a free deal? That that's his idea. He's like hey, you have a smaller country asking more from us If we want to go over there. They're charging our citizens more. So, okay, we need to up our. We need to reassess.
Letter K:That makes no sense. Now we're saying we're treating American citizenship like a product, like well, this is America, jordan's charging $750,000. We should charge $5 million, because we're better, Okay.
Psych:So all right, take that $5 million. Do you think there's 200,000 people across the globe that are able to pay that?
Letter K:No, you don't. No, I think they are.
Psych:Yeah, out of 8 billion people, there's not 200,000 people with $5 million that want to live in America. So there might be that many people, but that many people who also want to live in America. That's where you lose me. So okay, so what if the provision was you don't necessarily have to live here, but you can have the citizenship? That would be attractive If you're a business owner who has dual citizenship, or I don't know if there's a word or a term for having multiple citizenships across the country. Right, multiple citizenships across the country. Right, you're a citizen of canada, united states, australia, whatever, put. Whatever country you want. Fill in the blank
Letter K:so as of as of 2024, there are approximately 3.5 million individuals worldwide that have a net worth in excess of five million dollars. It represents 0.045 of the population, population, which is roughly one in every 2,300 people. We're not doing good enough, bro. If one in 2,300 people have over $5 million, what the fuck are we doing? We're moving to Jordan. It's affordable.
Psych:Yeah, oh, my yeah, so I'm not against. so it think of what? What if america was a store? What are we offering?
Letter K:See, that's just it. If america was a store, I don't. I am having a hard time thinking of the United States as a product, why? Because I don't know. Logically, I see the benefits from Trump's perspective Bring the smart people here, they'll do smart stuff for us. But telling people hey, you can come here if you have the money
Psych:people are already coming here because they want to get something that their own country doesn't have. Right, we are a market. Their market lacks what they are desiring.
Letter K:Within america there are goods and services that are coveted, yeah, but america is not the good or service no, you and I both know that,
Psych:yes, and I agree with you america is this bigger, greater thing. It's an idea, it's an experiment. This, this whole idea of you know, from its foundation in its history and to where it is now. We admire and love our country through that lens, where we have things that we can offer others. And maybe the use of the term a store is maybe too blunt or not sophisticated enough, but that is what is happening. People are coming over here and they're gaining something else. There's something that they don't have that now they are seeking out, and if we didn't have the best option for them or the best opportunity for them, they wouldn't come here.
Letter K:I love how. So from ChatGPT. While this program targets high net worth individuals, it's important to note that not all of these 3.5 million individuals are interested in participating. This is true. So here's my thought on this. Here's my plan. Here's my plan. You got to give us the $5 million, but also you have to have a plan for how you have to present a business model and a plan for how you will help America do better, be better, and that's a part of their process.
Psych:It's not just hey, $5 million gold card, go live your life. No part of the stringent and strict processing vetting protocols that they have Proving the worth. Do just that right. So I have another what's your intent? What is your purpose and intent while you're here? Yeah, you're good for the money. You've got that. You threw it away? Great, we'll take it. And now you have to actually do something for an extended period of time to make sure that you are still going to provide value.
Letter K:I have another stipulation. Now the government needs to figure out. So this person over here, this $5 million gold card candidate, needs to, like I said, submit their business plan and I would say they have to include projections for how they're going to help people employment rates, levels like that, full business model, right. And then the government also needs to come up with a pathway for citizenship for all these, for all these people who are trying to come into this country illegally, and they need to marry the two concepts. So so okay, we've got 14 candidates this year who want to do the gold card program and there's their and their business model looks. They all look good, they're going to come in, they're going to do this and in two to five years they say that they're going to collectively create 1.7 million jobs. Now we have something for the people who want to come here but have nothing. That's what I want to see.
Psych:And I think the option I don't know, I haven't read everything this is not a reality yet this is, this is an idea. it hasn't it's an idea right there's, there's objections, but this we're having intelligent discussion just about this outlandish idea, and I think if that alone causes people that are actually making the decisions and running this nation to think thoughtfully about this notion and about what's wrong with immigration and our in our, our land currently, then yes, they should be. But okay, so you have, you've got the five million right. You're good for it. You've got this stellar business. You're coming over here. You're winning, and I think the option is also open to I want to bring my cousin, I want to. I'll pay for them, I'm going to pay for my wife, I'm going to pay for my three kids, I'm going to. So now it's, it's starting to multiply from from there, and if they are also like you, a winner who has the potential to do well, and if you're already providing so many jobs with your current company and you're not even at full capacity, you have potential to scale up and grow, and then we can still bring more people in to fill this need because we've created more.
Letter K:That's a great idea yeah, all I'm seeing is the uh as the anti-trump perspective is that, oh, he's just trying to bring his rich buddies in. That's all you're gonna hear
Psych:how many rich buddies do you think he has all of them. So if you're rich, you love trump. Well, you that's that's.
Letter K:That's the. That's the liberal um talking point.
Psych:That's the they want the belief in their perspective.
Letter K:I don't know. You know they oh, look at all the rich people oh, they're all getting together. They're trying to destroy the middle class. That's always the argument, and it goes both ways, because when, when biden was president, it was the, the conservatives, that were like, look, they're rich elite, they're trying to destroy the middle class. And it goes back to my argument that they're they're the same person. They just uh, they're just, they're fooling you into believing that that they're fundamentally different and they're just really.
Psych:No, no I understand that now didn't always I was like oh what? was outrageous, like wait a second and then the next. You know, you got midterms and next administration. It's like they just said that over there last time or they just did that and you were upset when they did that. But now you're doing, doing that and then it's powers shift, the pendulum swings back, the talking points get tossed back to the other party, yeah, and it's like okay, you guys are all in this together and we're just sitting out here going I don't know, but anyway, I thought that would be quite an outrageous way. So here's what they're saying If you have, okay, let's get a calculator here 5,200,000. Use the numbers 200,000. That's 1 with 12. That's what 12 zeros Help me out here? Is that a trillion? 12, 1, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12. That's what 12 zeros Help me out here. Is that a trillion? That's a million, that's a billion, a trillion dollars? Yes, right, 12 zeros. 1 trillion. A billion is nine zeros. Yeah, one trillion. And if you get 200,000 a year, 200,000, what? 200,000 people that come here a year?
Letter K:Okay, okay, I'm backing it up. There's only 3.5 million people who are eligible for this and they're all breaking it and we're going to get $200,000 a year.
Psych:Yeah, they're making more millionaires every year.
Letter K:That's so fucking stupid. Go ahead, hit the button.
Psych:Hiya, okay, that has to be the dumbest okay, that has to be the dumbest.
Letter K:Those projections are just the wackiest science fiction you know what's dumb.
Psych:Before we started this whole thing, I talked about a sound, a sound little panel. You and Wes program.
Letter K:I've had this under my chair for weeks. I've been waiting for the perfect moment. Oh, tears in my eyes.
Psych:You're ridiculous.
Letter K:Not as ridiculous as this 200,000 people here.
Psych:Yes, I think their estimate is unattainable. But all they were doing was saying, hey, if that were to happen, if I can say a lot of ifs, in 30 years there's no national debt. Yeah, if it's just that, even if we don't even change anything, well, we're going to have to cut because we're spending too much, but if we didn't change anything after that, in a generation there's no national debt.
Letter K:Okay, hold on. Okay, 30 times 200,000 is 6 million. So we are going to double the number of 5 millionaires in the next 30 years and bring them all to the United States at a rate of 200,000 a year pipe dream, yeah that gets the letter k. Hella dumb.
Psych:Seal of disapproval uh, there's many that agree with that.
Letter K:Yeah, yeah holy jesus, so glad you didn't hear about this. Yeah, me too. For for the fundamental fact, all right, it's so so?
Psych:so take this for what it is. No, your citizenship just got boosted to $5 million worth of value. How does that make you feel?
Letter K:Amazing If. I can realize it
Psych:Maybe it's Bitcoin.
Letter K:That's what makes it worse. So I can just see people saying are you telling me that my citizenship is worth $5 million? Can I sell?
Psych:it. No, you can just renounce it, that's it All right, wow, that's. It's a big topic. Yeah, if I were in another country and I had it. I would actually want the card Give it to me. I want it.
Letter K:Gold, I want it made out of gold. Looked like the Willy Wonka ticket. I want Trump's profile on it.
Psych:Who's the man that gave you this opportunity?
Letter K:Something tells me that we're never going to see trump on anything what about mount rushmore?
Psych:are you about that?
Letter K:I should have talked about that one when we start talking about idolatry in our, in our country. Wow, let's put trump on the back half of mount rushmore, mount trump more so.
Psych:Here it goes scrubbing the internet grog. Yes, donald trump has been proposed to be added to mount rushmore on multiple occasions, both by himself, by his, of course, me on mount rushmore and comments, and by his supporters, including through uh, through formal legislative efforts, jesus, people are actually putting this in paper.
Letter K:Can we just put me on Mount Rushmore? You know, just just, just, just just, we could probably make some changes to Roosevelt and get Letter. K up there.
Psych:There was a rally in Ohio in 2017. And they all looked like they were jokingly asking the crowd if somebody would be on Mount Rushmore.
Letter K:This is what fuels the argument that that, that, that maga is a cult most most uh.
Psych:More recently, january 28th 2025. Representative anna pauline uh. Republican. Anna paulina luna luna. Oh, there you go. Thank you, for her last name is luna. Anna polina luna uh republican florida introduced a bill in the us house of representatives to formally arrange for trump's likeness to be carved onto mount rushmore alongside george washington, thomas jefferson, theodore roosevelt and abraham lincoln. Luna argued that trump's remarkable accomplishments and leadership warranted the honor, though the bill has not yet gained co-sponsors oh, the hell, you say or progressed significantly, and experts note there is no physical space left. Oh you better, I don't do shit right now.
Letter K:So do you want to know how to make yourself the most ostracized member of a 500 plus group of individuals? Write up a legislation that puts Trump on that rushmore
Psych:but the proposal sparked debate, with supporters citing Trump's impact and critics arguing it's impractical or politically motivated.
Letter K:I would have loved to have seen the room when that debate started and how many hands covered faces.
Psych:Well, it's all public record. You can go and get on C I used to watch C-SPAN, yeah.
Letter K:Watch the congressional Yep.
Psych:Yeah, no, you can go back. It's there. It's probably a meme for some of them right now.
Letter K:That's not important. It's too absurd to be a meme. Memes have limits.
Psych:But imagine you just get your gold card, you go to god trump and you can go to mount rushmore at on your first visit to the united states legally, and and you can, and you can get down on your knees and thank your new god, donald trump dude.
Letter K:I wish I hadn't brought this button because I would have. This is the moment. Thank you, uncle Roger, for selling me this overpriced but hilarious button.
Psych:I'm sorry, Uncle Roger. I missed you last time you were in Pleasanton.
Letter K:Yeah, at the Costco. Yeah, If you're ever visiting the Bob Hope Theater, you know the Fox Theater, but they call it the Bob Hope in Stockton, california. Can you please let us know? We'll go see that it's on.
Psych:Instagram. I mean he's on Instagram. We'll know, let's find out.
Letter K:So bad? Yeah, let's find out so bad.
