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Governments lack the incentive to adapt and improve because they can't fail like private sector organizations. The technology revolution has transformed private sector organizations, but government organizations have not fully adapted. Government financial systems are decades old. It is claimed that $2.3 trillion in transactions cannot be tracked. Information cannot be shared within a single building because it's stored on dozens of different, inaccessible, and incompatible technological systems.

Our financial systems are antiquated. We're unable to track trillions of dollars in transactions. Information sharing is severely limited by outdated and incompatible technological systems.

Many Americans are unaware that the technical backbone of the financial system is decades out of date. Payments and money transfers are costly and can take days or even weeks to clear. The bill would make the entire “ancient system” eligible for a 21st-century upgrade using state-of-the-art crypto technology.

We discussed the tension between being open and transparent while also protecting ourselves. We agreed to be open and transparent for everything that happened 90 days ago and before, as it's all gone. It's similar to how cryptocurrencies work, where there is no trail if you don't want it.

The discussion centers on why data centers are expanding so rapidly despite the claim that existing phone and television usage already relies on server storage. Participants cite large-scale developments such as Loudoun County, Virginia’s “never-ending” complexes and a proposed 40,000-acre AI data center campus in Utah described as “two and a half times larger than Manhattan,” with claims that Utah lacks water and that the data center would require more than double the current energy consumption of the entire state of Utah. The question raised is what is really happening behind this scale and where the collected information goes. One participant links the projects to “intel” involvement, pointing to companies said to include Palantir, Nvidia, and Abraxas, and to allegations that some of these firms received CIA investments to start, including staffing by retired senior CIA officers. This leads to questions about whether “the CIA [is] spying on our own people,” referencing Edward Snowden’s revelations and mentioning NSA’s and CIA’s surveillance of Americans. The conversation states that NSA’s charter includes a restriction that it may not spy on Americans, and notes that Snowden’s disclosures are described as the reason people “wouldn’t have any idea” without them. The Utah compound is described with a claim that it has enough memory storage for every phone call, every email, and every text message from every American for the next 500 years, prompting questions about why that amount of storage exists and why such facilities are “everywhere,” and what information they are collecting. The conversation shifts to personal protection, with a suggestion that it is “almost impossible now” and a recommendation that the only way to protect yourself is to “own no technology at all,” referencing Eric Rudolph or the Unabomber as examples. The participant further claims that governments and intelligence agencies are “scooping up” data and holding it, and contrasts earlier post-9/11 practices—where obtaining information required federal judges to approve warrants—with newer methods. The transcript claims that instead of warrants, the government can use “national security letters” to require providers to turn over all information on a named person, or can query the data centers directly by inputting a name so that information “pops up,” describing a lack of legal protections and stating that these actions are “legal now.” It concludes by naming the National Defense Authorization Act of 2016 (and National Defense Act of 2016 as referenced in the transcript) as the change that made this legal.

Brad made a compelling presentation to the commission and FTC, emphasizing the need for decentralization of the web. He highlighted the growing consolidation of power among Google, Apple, Facebook, and Amazon, making it impossible to compete by simply offering a better service. Drawing parallels to the mid-nineties when Microsoft dominated the PC software industry, Brad explained that a shift in venue to the web and a change in business model to open source ultimately disrupted Microsoft's hegemony. To compete with dominant data monopolies, such as Google and Facebook, the game needs to be changed. Blockchains, as open public data stores, offer the best chance for innovation and bottom-up startup growth. This argument was presented to the SEC as the next wave of technology.

Our government needs new incentives for bureaucracy to adapt and improve since they can't fail like individuals can. The technology revolution has changed private organizations, but our government is lagging behind. Our financial systems are outdated, unable to track trillions of dollars in transactions, and information sharing is hindered by incompatible technological systems.

Larry Fink is now running, I believe, the World Economic Forum. He's acting chairman. Terrifying. He says that everything will be tokenized and that everything will soon be on the same universal digital ledger or database and that everything on that database will have a unique identifier number. So, for you as an individual, your identifier number will presumably be your digital ID or directly linked to that, but everything will have a digital ID. The tokenization agenda in particular seeks to tokenize not just assets we traditionally think of, like real estate, for example, or gold or, you know, physical assets as well as digital assets like Bitcoin. There's a major effort connected with people like Fink and also people like Mark Carney, who's now Prime Minister of Canada, to tokenize the natural world and transform it into financial assets. There was an attempt to do this to an extent under the Biden administration, I believe through the Department of Interior with natural asset corporations, but that has not gone away. There are groups—for example, one of the creators of the ETF model originally, which BlackRock now owns, iShares, his name is Peter Kanez, I think is how you pronounce it—who's trying to turn the Amazon Rainforest into a digital commodity, sort of similar to Bitcoin in terms of the scarcity idea that each hectare of the Amazon Rainforest would represent a token and financialize it that way. And then each hectare would then have its unique identifier, right, on the blockchain and would be serviced by surveillance drones and all sorts of stuff. So even our most natural, the places we conceptualize as the most natural places on earth, these people want to come in and place surveillance technology and tokenize it and put it on a blockchain and use it to, know, I would argue in the case particularly of natural asset corporations and the group behind it, the intrinsic exchange group, they just want to open up a huge new asset class. They call it Nature's Opportunity so that they can continue engaging in the same type of bad behavior that, for example, brought us the two thousand eight financial crisis, by, you know, can kentoopling, basically, the amount of assets currently in play. It's You know, insane. I had a guy who worked, very, very, very high up at Citibank. And he told me around 02/2008, he said, Glenn, you know, don't worry about the financial system. And I'm like, uh-huh. And, he said, you know, we're never gonna go broke. I mean, do you know how much just the national parks are worth? And I looked at him and said, are you seriously telling me that we should commoditize the national parks? And he said, it's gonna happen. And I wonder now if this is what he was talking about. If it was just a digital not actually selling them, it's just a digital commoditization of our parks. Yeah. So apply this now to the the phrase that we all heard during the COVID era, you'll own nothing and be happy. Well Yes. There's certain people that want to own everything, and that includes things that have never been able to be owned before that were considered things like the public commons, like rivers, lakes, the ocean itself, natural forests, all sorts of it. These people want to put all of that into the financial system, fractionalize it, tokenize it, and sell pieces of it around, you know, use it to speculate on. Mean, it's It's very insane.

Governments need to find incentives for bureaucracy to adapt and improve, unlike individuals or businesses that can fail and die. The technology revolution has transformed organizations in the private sector, but not the government. Our financial systems are outdated, with an estimated $2.3 trillion in untrackable transactions. Additionally, information cannot be shared within this building due to incompatible and inaccessible technological systems.