YouSaid · the spoken record

Marin Katusa

lines on the record: 69
first: 2021-06-13
most recent: 2021-06-13
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Any of the Chinese want swap lines that they gave to their partners. So, yes, China's importance in the Belt One Road, what they're trying to do there is growing, but it's nowhere near as important as what America is to its allies today. It's going to grow, but let's not forget how important America is to someone like in India. Is it just coincidence that India and China are battling on the border and Prime Minister Modi comes out and says he's got swap line envy quote, and you're going to see massive billion dollar investments from the big American platform companies like Google, Apple, Facebook into India? Probably the next country to get a US swap line is India. They're doing everything right to be on an American platform.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Remember, my first book, The Cold War, talked about how Russia and China will work closer together and follow the money. They have to do that. But also, you look at the prices. A lot of the devil's in the details. When you look at the data six years ago, you were using $100 oil. Now they're buying that same oil from Russia for $35 a barrel, $40. So there's different aspects that come into play there. Number two, long-term offset contracts, the big pipeline infrastructure. And as they are going to continue with that strategy, the greatest deal happening on the planet right now is the deal that China's making with Iran because Iran has no other choices. So I agree with you 100% and I lay that out. This is where the G2 world really is solidifying, but at the same standpoint, look what happened between March and May of 2020. We look at the swap lines that America, that greatly exceeded.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“US dollar, I know who owes you with the euro. Who is it the French? Is it the Germans? Are you going to rely on a bunch of Croatians? What is the euro about? And now you've got to get 29 nations or 28 nations to agree on things and where that's going in the bureaucracy. So or Canada, you know, you look at Canada's situation. So I agree with you. It's a process. And this is America is pretty beaten down right now. All I'm saying is this is not a linear is it.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“So that's going to start and it's coming and leading the way. I'm not just saying buy Tesla or Google this stuff, but think about where the markets are going for these platform companies because they see so much growth. Jeff Bezos said it the best on his AGM. 28% of all of our sales happen in less than 90 seconds because they're telling you already what you already want. They have Amazon's choice and you just click it and I fall for the stuff all the time. I just sit there. I don't know. I need paper or whatever. order it and when your profile is set up and all these moves in this way, I know it's hard for people because people are thinking in this linear world or I call it the when you talk about debts and how much debt America has per GDP or per capita it's still much better than the euro or Canada as bad as America is it's much better than Japan or the Europe like what is Europe at least with the”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“It into the market, but you set a key. So much of these petro dollars or US dollars went into commodities and things that people needed in manufacturing and debt. And that debt has to be repaid in US dollars. So that's the one thing about debt. You have to pay it back or you default and someone else takes that asset. So then we get to the part. And you said the key part was America's played this cheaper manufacturing from importing things, but we are changing the form of energy is changing. It's a transition, just like we went from dial-up internet to cable, fiber optic, and now we're going to be getting into the 5G. And then who knows what will be after 5G? Everything is changing. And now, if you can build these low-cost operating robotic, the technology, that wasn't there 15 or even 10 years.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“I agree with you everywhere up until when you said that petrodollar was backed by oil, which it facilitates that. But also, don't forget the other side of the equation was the military. The greatest military on the planet. That's what the Saudi royal family got out of this, was guaranteed support. In my book, I really break down the critical role Israel plays in all this. What's going to happen with Iran? And remember, I've traveled through these places. I've actually done business in these areas. And it's a unique area that's full of broken promises. Now, in my first book, I had a whole chapter breaking down everything on the petro dollar. And I said, we're at the beginning of the unwind of the petrollar. So as crazy as this will sound trade to a lot of the haters on the US dollar, when you unwind that petro dollar, there's actually a shortage of US dollars in this market that was so used to the petro dollar being for...”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Wanting to rattle, and I really discussed the whole US dollar as the reserve currency of the world and whether you're a Bitcoin fan or not, whether you're a gold fan or not, whether you're a US fan or not, I lay this out not in an opinion way, data-driven, because that's my strength.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Thing is negotiating what you put in your publishing contract. So I knew ahead of time where I was going with this. So the last chapter, I think, is the biggest outside the box concept, and it's called the Forbidden Chapter. And I really lay out piecing the first eight chapters together and where the rise of American, the specifics of how it will happen. And at the end of the day, I get it. People are tired of America and it's never been more divisive politically. that people have never had less trust in the media and the government. And it sounds like, you know, if you looked at the media, it's never been worse. It has. This is not new to America's past. And remember, this is a nation that went through a civil war and it prevailed. And my argument is, yes, we are in a G2 world where it's America and its allies on one side and China.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Demographics, the situation where we are debt globally. How would that work? The second order effect. So as I was writing about this, anyways, based off my investments, I came up with a very contrarian view. And I'm the largest investor and financier of these gold projects. And most people invest in gold to fight the US dollar, right? That was the old thesis. Gold up, dollar down. And I'm coming up saying, wait a second, we're in a new normal. And the guys that I used to work with and invest with, they were like negative interest rates can't happen, Marin. And I was arguing back then that they can happen. And I started talking about quantum economics and how things are changing, where things are going. And the deflationary effects with technology and all these aspects. And I wrote a chapter that my publisher was like, hey, man, you're going to get us banned from Amazon and Barnes& Noble's and Wall Street. We just can't publish this. This is so out there. And I said, well, the one benefit of having a bestseller in your first.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“What is gold and why does gold matter? And I talked about where I really have an advantage over all these other fund managers is actually the building of these energy projects, which I've done for my career, funding these things, being the largest shareholder. You know, Trey, you can be an analyst, but then when you put your money on the line, you try to go build something. Just try doing a Renault in your house and see how that goes or try to go build a house. Imagine building a huge 300 megawatt wind farm or a 500 megawatt run-of-river project. you start learning how difficult it is and where the costs are going and the cost inflation or cost deflation all these different aspects and then by fluke because of what i did in my past i was heavily involved in the critical metals like the rare earths and the uranium don't bet against america does its best when it has its back to the wall and this market and i start talking about how where we are from the flow of capital”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Normal try to understand the US dollar. We're in a new monetary world too. There's no doubt about it. Things are very different. But people keep talking about I link the old world, the Keynes world with the 2% target. And I really break down using data. Why was 2%? What did New Zealand do? Why was 2%? Linking it back to natural gold production using the old framework. Is MMT really here? Is UBI on the way? Or maybe we're taking a new accelerated version of the longest serving Fed chairman of all time, which was really the guy from the late 30s. His name was Marion. And he was there for over 20 years. And that was more of a FMC, a fiscal monetary coordination. And you can see that playing out. So I question those aspects. Then I talk about, okay, let's understand what money is, the short history of money.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Drupal bypass. And then this time quarantine, I said, you know what? I've got some really contrarian views. And as I was writing these views, we were killing it in the market based off of these framework that nobody's talking about. In fact, I was getting mocked and ridiculed that I'm sitting there going, we're pulling like three, four, five, six, seven beggars and liquid. And I start realizing that, wait a second, it's cool to hate America. It's cool to think that America's empire, its greatest days are behind it. Everyone's saying that it's MMT is here. And I'm saying, wait a second, I actually think that what Biden's policies are doing, we're in a new normal. So I started writing about that. And then I talked about understanding the US dollar. I've built projects around the world. I've been to over 115 countries. When you start doing that, you get a different perspective. And then I started going, okay, we're in a new.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Canadian, and there was this because of Trump, Canada's very left. Think of Canada as California. And my wife and her friends, and they're all well-to-do, great people, but I would be sitting there, and one comment was made, imagine how much better America would be doing if Hillary was president. And I kind of just sat there and I went, well, okay. And there's this anti-American theme globally. I guess you can say rightfully so, America's been a bully. Think about what they've done around the world. But at the end of the day, when I started looking at the data on this, and, you know, you locked me up in a room for a year or in a house, you know, after that first month when I gained 25 pounds, I realized I better stop doing this and start putting my energies towards something else. My first book I wrote when I was locked up after my heart surgery, I had a budget.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Tools and equipment from Home Depot is made from China. Once this goes that the option, you know, like when you go buy any food, it has your calories and fat. Once the government gets to the point where they educate, provide the information, because remember with AI, all of that is known. That's how good their AI is. They know exactly where these carbon credits are coming from. They know this. Jeff Bezos is going to get on this. And this is part of his, you know, you want to create a huge impact. Imagine now a hundred million users clicking net neutral by American, clean American.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Blue carbon mangrove project. It's not like a mine where, okay, we've got a six year mine life in the gold's gone. These are all verified and certified. So I can only imagine what people are thinking here, and they're probably like, what is this guy talking about? But there's websites out there like the Bloomberg of Carbon Credits at www.carboncredits.com. You can educate yourself on this sector. And I just think if you want to see where the sector is going, these companies are going to have to do this and every, you pull up any mining company before they get into their assets. They're talking about their ESG because they're not going to get, they cannot get invested. Think about this. Do you know what the seventh or sorry, I think it's top eight company on the S&P 500 in the ESG ETF is Home Depot. How the hell does that make any sense? That's how early we are in the sector. And go look at where most of the...”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it's a public company. So I sit there and I say to myself, wait a second, this is kind of interesting. I'm not saying put 100% of your net worth into Bitcoin or gold or anything, but I'm going, these numbers are insane. If you start using, from an IRR standpoint, right now, the average IRR for a good precious metal royalty stream that's producing is somewhere between 4% and 6%. You can buy using $10 carbon, 20, 25% IRRs. Now you tell me, first of all, Apple just came out and said they're doing 30,000 tons between 12 and 20 bucks. You know it's going to 20 bucks if they put that price range. This is still one-third of what the price is that's trading on the exchanges. There's this incredible ARB and then the government in Canada mandated by law whether you like it or not, you're paying $170 per ton by 2030. These projects roll out for 2030 years and you build a giant.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“2030. Right now it's You can find companies out there that are using $10 in their valuations, and you invest in these companies because they can sell it to Microsoft or some mining company for $20 or $30. If the company's in a pinch, they can go to the exchange and buy it at $60, which is happening. But that's one way of doing it. I'm saying a bigger bang for your buck, just like in mining, you find these companies that are producing these things that nobody is paying attention to, they're cash flows. Like, for example, one company is using $10 per ton. They're IRRs at $10 per ton right now, cash flows. These are certified, built projects are four times the IRR of the big four precious metal company IRRs using $1,800 gold.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“When a PWC signs off, it doesn't guarantee that it's 100% correct, but you get a lot more comfort if PricewaterhouseCoopers or Ernst Young or any of the big accounting firms have signed off and done the verification of the financials. Another thing, Trey, mark my words. Guaranteed within 10 years, just like the changes in accounting had to incorporate different things like liabilities, bonds, and projects, they're going to create on your balance sheet what your carbon footprint is. And like I said, the government of Canada mandated this by law. It's going to be just like when you go to a mine, you have to certify your bond for your tailings pond, and that's a liability for the life of the project. Your carbon footprint is going to be on the balance sheet. And that's going to be mandated by the law. And step one is what Canada just did. And they mandated by law that the carbon price is $170 per ton by Canada.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Verified this. What I'm saying now is not all carbon credits are equal and a carbon credit that is, say, like a blue carbon, the second order effects of creating a, for example, a coral reef, an algae, and then the effect of the biodiversity impact and protection, those blue carbon credits are going to have a huge value down the road, not just from the price of them, but they cost more to produce, to create, to verify. But if you're Delta Airlines, they came out and just said, hey, we're investing in this stuff. It's going to be more and more companies, and it's going to be the opposite of, well, we can just create these out of thin air and the price will crash. That was kind of phase one of the cycle. And those weren't even yet certified and verified by, look, there's a lot of companies that claim balance sheets. And then you look at who the auditor is, and you're like, I've never heard of these guys. That's probably not real. That's where it was today.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Just pretend we were talking gold here. All these countries needed gold. Okay, well, then you'll just go take the gold. Well, it doesn't work like that with carbon credits. There's one project on the planet, one that has been verified, that can do 10 million tons a year for 20 years. That's it. Just like a gold mine, you got to go and explore and dig and drill and do the calculations and feasibility studies to see if it's economic. That's what happens with these carbon projects and you got to put up the money up front. A lot of people think that a carbon credit is a tax that the government can just create them out of thin air. No, it is not. It is a commodity that you have to get certified. And like I said, back in the early 2000s up to mid-2010, these were cowboy territory. What was the certification? And those credits aren't really valued anymore and you can't really put those on exchanges because people are like, wait a second, what bucket shots.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“He's saying this carbon initiative is the number one thing. It is going to be after COVID, the governments are going to be this war on carbon. Politicians always need a war on something, but they've realized that sanctions aren't good. Look what's happened to Iran. It's pushed them towards the hands of China. But if you empower the American household to empower their purchasing power, and that will be a huge catalyst in coordination at the same time, these green bonds are happening totally independently because more money is being controlled by passive funds than ever before. And it's continuing to increase, the carbon credits become a key vital aspect, and it's a gift and good, which essentially means as the price goes up, the demand for it goes up. And okay, so how do you go and create it? I've actually broken down in my research reports. Think of it as a gold mine.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Other governments kind of took a different strategy saying, well, let's see where Trump is in three years. But what did Biden do with Anthony Blinkton's strategy? Did it change? No, they're totally continuing with it is the engagement of competition with China. But what was Anthony Blinkton's first mission as Secretary of State? He went to France. And remember, that's where he was educated. He was a rich kid in the US. His parents got divorced. He went to France. Ray got educated. He's seen as one of them. He went there to Macron and they kind of kissed and made up and they got a line. Then he went to Italy. Then he went to Germany. And this move is moving forward. Now, you look at, for example, pools of capital. Mark Carney, who was the governor of the Bank of England, his book just came out. And now Mark Carney works with Brookfield, and that is the biggest pool of capital in Canada.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Because even if it was a low cost of capital, and even if the robotic technology was there and the IP was there for America, the electricity cost to generate, to power this stuff was just too high. It just wasn't economic. All of the stars have aligned now, and the platform is for this resurgence. So it's not just going to be by American. Remember what Trump did, whether you like Trump or not is irrelevant. He rattled the cage with China and he broke the foreign policy that America's had with China since WHO, which was an engagement of cooperation. Trump broke that and said, no, no, no. I'm competing with you. Where he screwed up was he didn't have the EU on board, which is their second largest customer, because he pissed them all off by saying you're going to pay your fair share for the UN and NATO. And so they were like, hold on a second, now you're going to tell us to pay more and you want us to do what we want with China. And remember.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Opposite. So if you think about it as the price goes higher, it's the demand increases. It's Geffen's good. First of all, there's no other replacement for it. You can't create the rare earths. I was a big rarers player about 15 years ago. There is no replacement for carbon credit. That's the fact. Number two, I totally agree. Like think about China's emissions are greater every year than all of the OECD nations combined plus more. You're not going to get Jinping to say we agree it is an air apocalypse. We agree. What we're doing is in such a large scale that the planet has never seen it before. He's going to argue, yeah, but we're doing it for you because you guys need the stuff because you're not doing it. You're not polluting where you are. That was the whole argument of the emerging market specifically China. But what I'm getting at is saying 10 years ago, that was a correct argument.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“About that anymore zipper fracks and all these things that you know think about Murphy's law that's where we're getting into the sector and I get it's a really hard thing for people to get their heads around. This reminds me of Bitcoin in 2010 and 11 and it was difficult and the adoption wasn't yet there. That's where we're going and it lines up in the best interest of the management teams, the stakeholder capitalism facts. And overall, it empowers the average American household to really support an industrial revolution that America hasn't ever seen since the 1940s cheap power, you've got the robotics, you've got the cheap cost of capital, the green bonds coming in, the IP's already there, and they can produce the same gadgets and everything that China does at a cheaper overall cost by going the option of going.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Trade with exactly that governments. Think about the screw ups the UN did. I've read case studies about a year ago when they would go into Brazil and they would plant what they thought would be a faster growing tree in an area where that species didn't belong. And then what did it do? Price inflation. They attracted the local farmers, which screwed up the farms beside it, created hate from the existing farmers. It absorbed way more water, introduced new bugs and pesticides, and it was a disaster. So that's the evolution curve of where it was in 1998 to about 2014. That was kind of its first phase. And just like anything, whether it's Ethereum or mining or fracking, I remember when a four stage or an eight-stage frack was big. I remember I wrote an article in 2008. One day we'll get to a 24-stage frac. Now they're doing like 128 stage fracks, and that's just like normal Monday business. They don't even talk.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Electricity generation came from coal. Now it's half of that, and it's going to continue to decrease because the technology has gotten down so cheap for the materials for wind and solar, and it's going to continue to improve. Now, look, I'm not here to support or cheer for any of these companies or what's going on, but the trend is your friend. And this is where the sector is going. I think this is going to continue to outperform Bitcoin. And I love Bitcoin. You know, I've invested in Mark Hart's fund. And if anyone knows who Mark Hart, he was talking about this five, six years ago. So I'm one of these guys that rather than trying to have my fingers and everything, I figure out who the best is in their specific discipline, put a bunch of dough in and then ride their victory. And with Mark and Worth, it's been an incredible journey through this crypto benefit and rise. But as I was thinking more and more into this carbon sector, I realized that it started.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“We're in the infancy here, and it is going to be a huge growing trend. A mining company in the 1940s or 50s, do you think they even had local educational seminars or any of that? They came into the town, they built it and they left, right? Think about the evolution and change. Stakeholder capitalism is where the world is going and moving forward. It can't just be good for the company. It has to be good for everyone involved. And this carbon offset is going to become a massive play moving forward. And it'd be one thing doing this 10 years ago, the technology wasn't there, A, to verify it, put it on the blockchain. The cost of capital, there was no incentive for the companies to do this. And China could produce everything cheaper. And it's just, we already set up the factories. And the cost of electricity in America at the time were so fossil. Remember, 15 years ago, half of America's electricity.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“My cost of capital is costing me 8, 9% all in. They're clipping a 4% arbiter. But if they can reduce their cost of capital to say 4%, that doubles their free cash flow. And there's a huge surgeon. So they're starting to realize, so for example, the CEO of the largest builder of nuclear reactors on the planet today, I had a call with him. And he was like, okay, we're net zero. I go, well, no, you're not. Think about the concrete and everything that goes on when you have to build it. But imagine now you can truly, because that was the whole thing that the anti-nuclear rule talked about going, well, hold on a second. There's a footprint to producing uranium. True. Well, there's a footprint to building your reactor. That is also true. But you can offset that. And out of the gates, you truly are net zero. And when I walked them through the math and how he can go about this, he goes, this is a no-brainer. We're on this. Can you introduce me to...”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Okay, your cost of capital on one mine is going to cost anywhere between depending on the project. I'm in this market, so I know the exact numbers, anywhere between 8 and 12%. Now, if I'm now certified, bond, green, and I can get there, my cost of capital is somewhere between 3 and 5. And you're talking about if the management understand this, I'm having all of the senior executives of these cold companies phoning me up. Remember, last year when I came up with this whole negative swap line concept, they hated me because they're like, what the hell's a swap line? Why are you freaking out my shareholders saying that the governments are going to start taking more? Well, they are. Look what Argentina is doing. Look what Peru is doing. Look at what is going on across the board. And it's starting to create this value driver for large tier one deposits in North America and politically stable jurisdictions with their respect to the rule of law. And now these companies are starting to realize like Conchish, you know, if my margins are 14, 15% for this commodity I produce.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“That's actually what is trading right now in the voluntary market. Like, if you want, like you trade, go on and buy these credits. That's what it is in the European market. The head of the European Union just came out and said, that price needs to overdouble for it to make an impact on the company. And again, the governments are starting to figure out that a bunch of bureaucrats, a bunch of champagne socialists aren't going to make the change. The companies are going to make the change. But it's the flow of capital that is, remember how big the bond market is.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“We improve the stakeholder capitalism, and this is just growing, just beginning. And last year, they created about just under 200 million credits of carbon, just 200. Right now we produce over 50 billion globally. But if we just attack 10% of the S&P 500 companies to go net neutral, you're going to need a couple of billion credits just to be absorbed in the market. I have never seen such a supply and demand ARB in any commodity. And Trey, I was the largest finance figure in uranium. I've been there and done that. I am the largest in the gold sector, and I have never seen an opportunity like what I'm seeing right now in the carbon world.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“That makes from China that's unchecked. Remember, China is not going to be going against the market by empowering the people, by going net neutral, just on that. That has nothing to do with the whole companies are making this, but that's going to be a huge catalyst. We've already had companies contact me regarding this concept. And when you see that the average person does want to make a high paying job in their local community and make an impact with the environment because you're going to significantly reduce emissions, that will be a game changer to China also because they're going to realize, oh, we got to pick up our standards. Think about the threat to the communist regime on that standpoint and their agenda. And if you're Taiwan, you're definitely paying attention to what I'm doing. And I know they are because they've contacted me on this. So you sit on these second order effects here that by just doing the right thing, the companies get a lower cost of capital and it becomes higher cash.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“You empower the average American, the average European, the average Canadian on your online purchases to go net neutral. The industrial revolution that would come from the green bonds and this thing that's polluting from China is coming here and everyone's turning a blind eye because it's cheap, but we can today, we have cheaper power and clean green power in America like Texas. I've financed 200 megawatt projects in Texas, the top flats, which is cheaper than lignite power in China. That's where we're at on the economics. Texas is the Saudi Arabia of wind power. It is so cheap right now. With the low cost of capital and the robotics and technology and the IP, Amazon can reduce a huge, remember, $700 billion of goods comes into America through Amazon, Home Depot, Walmart, and Costco. Think about the footprint.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“This huge box, and I go bend down, the thing weighed like nothing. And I opened this up, it had a bunch of packaging, and my wife bought one whiteout pen, one pen. It had this huge box. And I started thinking, what is the carbon footprint of this? So I started doing the math on it. And I started realizing that no wonder with the world shutting down, we've only reduced our carbon footprint by less than 5% globally. Amazon's making a huge push. Huge push that they're going carbon neutral. Net zero is really hard. It means you don't create any emissions. Net neutral is saying, hey, I offset the emissions we make. And they're investing billions of dollars to make their delivery trucks electric. And they're doing step one the right things. But imagine if in my household, my wife manages all of the inside house, everything, ordering everything. And imagine if”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“So, like I mentioned, the big three verifiers, like a Bursa or a gold standard, these different courts that you have to pay, but you might think you have a million credits, like Apple got it certified, and they came up with 30,000 credits for the next 20 years, and their cost is around 20 bucks US per ton. And then they're using that to offset. Microsoft went into the market at the end of last year and bought 1.3 million credits to offset their thing because they're trying to be a leader in this. But there's a bigger angle here that I think this is kind of the last chapter of my book, which I call the rise of America. And it really hit me one day because of quarantine and we're not allowed to go anywhere in Canada and Canada has done such a horrible job managing COVID. So, you know, like every average family in Canada, Amazon and deliveries to your door. And I started thinking about this and came home one day and I looked.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Carbon credits is the equivalent of about a quarter million cars a year of emissions on a standard average car that the average American household owns of the average minivan. So it's just over a quarter million. So it's a way to visualize what this is. If you think about it even in a simpler way, one tree, traditional fir or an oak, take a big Douglas fir from beginning to 40 years of its peak absorption. It's about worth four carving right away. So you can see how difficult it is to go and create these. Now, if me and you, Trey said we want to go create these carbon credits, like let's compare it to Bitcoin. We want to create a Bitcoin farm and you have an algorithm, you and I cannot certify this. There's a process to actually go and certify the science is there. Then you pop it onto the blockchain and these corporations are going to want the highest standard.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“An online brokerage account, but you can actually kind of like a commodities, you can't really buy a lot of the commodities on your e-trade account or your online brokerage account. You can buy an ETF that does it. But if you actually contact the ledgers or the commodity markets, you can actually buy these contracts. That's eventually going to change where they're going to list, just like Bitcoin had its transition and it listed and became easier and easier for the retail person and the institutions to buy it. That's where we're going with these carbon credits. But a company doesn't need to go online and buy it through these ledgers. They can contact the actual ledger like a Versa and contact them or the guys who are actually creating the commodity of carbon credit. And that's the hardest thing. A lot of people are like, what the hell is a carbon credit? What does it look like? I can't see it. Well, it's the equivalent to a ton of carbon dioxide. It's got an equivalent aspect. So if you think about it, a million”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“The three big ones. So, for example, you can go think of it as like ledgers or it's not like you can go on your E trade account and buy these verifiers. You can do it through the ETFs for that way. I think there's better ways of doing it than that. You could go on to the European EU ETS.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Going now. Now you have it starting to get globalized where you have like the big three verifiers, you know, like an accounting after Arthur Anderson scandal, PWC, Ernst Young, they really created an international standard with Gata and today it's IFRS. That's what's happening right now in the carbon credit world where verifiers like Versa or Gold Standard, there's three big ones and they have ledgers and these actually trade and in the first three months of this year we've already traded more carbon credits and dollar value than the last two years combined. And it's not just speculators buying it as corporations looking to offset because their cost of capital will become lower and then they can meet the needs of the pension funds and the sovereign wealth funds.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Thing. It's just going to be all bonds are going to require this ESG aspect. Today it's still pretty early. And remember, 91.5% of the public companies haven't even come up with this. We're just talking about the beginning. We're not even in the first inning of this game. We're still in the farm league of this baseball game. We haven't even got to the big leagues yet. It is a sector that's going. And if Exxon just wanted to negate its impact, you know, there's S1, S2, S3, S1, it's its direct carbon. So it's like actually lifting, or if they crack at the emissions, they actually create S2 is direct and indirect. And then S3 is all of the above combined. And I never use S3. But if you just take the five largest oil American companies, they would need to soak up all of the carbon credits created since 1997. That's including the good, the bad, and the ugly. But that was then where we...”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“A ton for their cost. These trade in the European on the ES is at about 60 American equivalents, just I think it's a little over 50 euros in Canada. The prime minister, like our president, he mandated in law that by 2030 it's $170 per ton to offset. And the Alberta provincial government, so that's the Texas of Canada, the oil producer and the gas producer majority in Canada, took this all the way to the Supreme Court of Canada to fight it and lost about three weeks ago. It's law. It's done. And one thing, what is the one thing you can guarantee the politicians are going to do? Tax more. But here's the beauty of this. This is the only tax I've ever seen that you and I can participate and take our fair share of. Where we're going to be in 10 years, green bonds aren't going to be this new.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“These and just planting trees isn't the solution. If you look at the average American, you know, just the footprint of an average American would equal about 50 acres of forest planted over 40 years to offset one American. If you just quickly do the numbers, that'd be something like 45% of the global landmass would have to be planted in over 40 years. That would just negate the American population footprint. So that's not a solution either. It's important. And there's ways to increase it, but then there's blue carbon. What about the ocean? And that's going to be a growing sector. Apple. Apple computer just came out on Friday after market with a press release saying we've invested in all this and we're coming out with 30,000 carbon credits a year on our blue carbon project which is kind of a mangrove which is about 70% underwater 30% above water and it's 30,000 credits and it's about 20 bucks”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“That their cost of capital goes up to match the bond market of the non green bonds. So the green bonds, if you meet this, is a lower cost of capital. These companies really want this because it means more free cash flow for their shareholders, which means they got skin in the game, they make more money for everyone. This is the facts of how it's moving forward. How does this all go about? So if you since 1997, there's been about $4 billion carbon credits created. Now, that's including the good, the bad, and the ugly. And during that time, there's been a lot of ugly. Remember, this boom phase. Then there's this bust phase, which we're at right now. You're in what I call the echo where people are starting to figure out hold on a second. We have to be verified. So you can't use a carbon credit twice. It's used as an offset. It's a commodity. It's going to be the biggest commodity over the next 25 years because you have to go and create.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Going to be one of the impacts. Now, whether you agree with what Biden's doing or not, one huge fact that is going to happen is the trillions of dollars that is going to be invested in these sectors are going to have a mandate. Kind of like when you, I do a lot of lending to companies. You have covenants, right? Trade's got to have your leverage ratios, your cash flow ratios. The management has to meet covenants that they agree to. These green bonds come to these companies and not only do they have to meet these financial covenants. They have to meet the E, the environmental covenants, the S, the social governance. So they're going to have to have what is your carbon footprint? How are you including the indigenous people? And then from a governance standpoint, the G is, for example, a big pipeline company came out and they tapped into the green bonds and they had to say 40% of our population workforce is going to be females by 2030. And if they don't mean”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Exactly. So, what my point is you can have good intentions, but without skin in the game, nothing changes because bureaucrats and politicians, they change, and oh well, we tried and generally their champagne socialists. They want to talk about change, but they don't know how to make change. Well, the biggest impact the millennial investor is going to make through these ESG funds, they're going to put the fire on the ass of these directors, of these public companies and the CEOs. And it's going to be something called cost of capital. So these ESG funds, people don't realize that it's the largest growing sector in the bond market. We're talking about over 25 times growth from 2013 to today. And here's the wild part. The US government, the US sector has been 2% of the capital for that. It's been majority EU. So once the American Eagle wakes up to this, which it will and under the Biden administration is”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“China's not going to tax themselves. So you have a whole perspective of what's going to happen, but these public companies. So when I rip through the data, there's over 4,500 public companies in North America and Europe with over a billion dollar market cap. That's a B, a billion dollar market cap. And you have about 8% of them in the last 12 months came out with some form of, hey, we have to reduce our carbon footprint. So they came up with a plan. Did they all of a sudden do that because they have a conscience? Maybe, but really, when I talked about 1997, 180 countries signed up. Trey, how many of them do you think actually meant their numbers for reduction of emissions?”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“The company got there, the environment, the government, and down the road. And China's not going to tax themselves on this. In all honesty, why should they? You know, you think about Europe and North America for 100 years, all of that development that came and moving society forward with the electrification and the industrialization. There was no carbon tax for Europe or North America.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Concrete they create every year. Think about that. And every year there's a new New York City being built every month for the next 40 years. That's the magnitude of development that's going on in the planet. There's even a whole audience that don't even believe in global, you know, the climate change and all these aspects. But let's just really hone in on what is the real situation. Now, 15 years ago, ESG funds were a concept, the environmental, social, and governance aspect. But we got into the point as the boomers are phasing out, the millennials are phasing in, there's the largest pool of capital ever coming in into this sector with what I call a stakeholder capitalism perspective. It can't just be good for a bunch of rich white old dudes who go around the world and extract value. It has to have value for the locals, the indigenous population that was there before.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“A lot of their case studies in 2009 were about carbon credits. And I would go to these lectures and I would listen about it. And it was just too early. It was in what I call the boom phase. It wasn't properly regulated. What is a carbon credit? Is a carbon credit that Trey creates the same as a carbon credit that Marin creates or that the mafia creates? What's the validity of this credit? Who says that it's a credit? These are all questions that were early. Now let's fast forward. So how did this all start? In 1997 at the Kyoto Protocol, 180 nations signed up to this agreement saying, yeah, this is a problem. We obviously see what's going on with China. And back then, they projected quite accurately where we are today. For example, if you take every car on the planet and add up its carbon emissions in a year, China produces more carbon emissions just from the”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT