for your government you get an entire network of all the smartest people in Silicon Valley, Naval just being let's say the tip of the spear there of smart people. You get all of that for free. And nobody ever talks about that because Sachs, if you looked at his, let's call it a rolodex even though that's an old term, he could call almost anybody and get a second opinion on anything. He's just really well connected, but also has a great reputation in the investment tech community. And you get all of that for free. Nobody ever talks about that. Isn't that funny? Because that's really worth a lot. The fact that he is one phone call away from an intense network of the smartest people in the world. And he could contact me if he ever wanted to. I follow him on X. I think he follows me back. So you get me for free too if there was anything that I could ever add to what he's doing. I doubt it because it's not like I know much about crypto or AI compared to him.

Anyway, so don't forget what you get for free.

Elon Musk was doing a podcast recently where he had lots of quotable moments. We'll talk about a few of them. One of them was so Elon has predicted that money won't have any value in the future and instead it will be energy. So energy will be the true currency. And because Bitcoin can only be created with energy because the computer has to do a lot of crunching to create a new Bitcoin and the ones that we have were created by energy, that Bitcoin is, let's see what did he say? He said long-term I think money disappears as a concept. Money disappears.

How would you like to be the richest person in the world, Elon Musk, and know that almost certainly money will become worthless? He's going to go from the richest person on the entire planet to, "Oh, you want a new car? I want a new car. We can both have a robot go build us one." I'm simplifying a little bit, but Elon predicts a world where the AI and the robots will make essentially everything you want close to free and it doesn't matter who you are, it'll just all be sort of free. Now, that's a very optimistic prediction.

But he takes it further and I like having this to cling to. I don't know if it's true, but he predicts that quote I think the future we probably won't have money. Energy and power generation will become the de facto currency. That part I agree with completely and I've said the same thing. I believe that energy is the new money. And maybe Bitcoin is just the stand-in for the energy. But he did say that the only way out of debt in the future, the only way, literally the only way, there's not a second way to escape our debt burden, you know our 38 trillion or whatever it will be by the time we start turning it around. The only way that that will get remediated is if the world of robots and AI is so stimulative that it makes even our $38 trillion debt seem small.

Now, I might not be doing the best job of explaining it, but did that make sense? That essentially an entirely new economy is about to emerge and it will very quickly just swamp in size the entire existing economy. So it might be 10 times it, 100 times it. We don't really know. It's uncharted territory. But that world according to Elon Musk, the smartest person you know, is the only way out. Otherwise, we're literally doomed. We're doomed. So let's hope that the robots and the AI make a lot of money.

Now, here's the part I don't fully understand. How could it be that money is worthless at the same time that we're making so much extra money from robots and AI that it compensates for our debt or pays it down or minimizes it? I feel like there's something missing. Like it can't be true that the AI and robots become this substitute for money at the same time everybody can have everything. Or could it be that all the people who hold the debt wouldn't care if they never got paid back because everybody can have everything for free? So I haven't quite figured out how that all fits together, but I love hearing that there's at least one possibility that the smartest person you know, who isn't Naval, that the smartest person you know aside from Naval thinks that there is a way out. Not guaranteed. I don't even know if he's going as far as to say it's most likely. He didn't say that, but at least there's some possibility. And that's more than I thought we had, honestly.

Well, speaking of that, according to Zero Hedge, our tariff revenue has surged to a new high. So $31.4 billion in October. So that's just from tariffs. And what percentage of our total tax revenue do you think that is? Well, I asked AI ChatGPT and apparently the amount that we collect in income tax per month, a recent month October, is a little over $400 billion. So now we're up to something like 8% of our entire incoming revenue from taxes. About 8% of it is tariffs. Now that's 8% we weren't getting before. So it's on top of the $400 billion. And I have to admit, I didn't think the tariffs would ever get to 8%. And so Trump is teasing that maybe he would get rid of income tax and have only tariffs someday if the tariff number kept going up. I don't see how that's possible, but if I'm being honest, I also didn't see that tariffs would ever reach 8% of our monthly tax revenue. To me, that's a lot