Latest / Simply Bitcoin / Trump appoints pro Bitcoin fed-chair to save the markets? | EP 1430

Transcript

Trump appoints pro Bitcoin fed-chair to save the markets? | EP 1430 · Simply Bitcoin

0:01
We might finally know what sent the markets tumbling yesterday.
0:05
This morning we got news that Trump has just appointed a new
0:09
pro Bitcoin candidate to be the next Fed chair.
0:13
But are the markets misreading this decision?
0:16
Today we're going to be diving into who this new potential Fed
0:20
chair. Yes, there's still potential.
0:22
He still has to get, you know, passed through the appointment
0:26
and what this means for you. What what are we looking at?
0:29
Is this going to be bullish for Bitcoin?
0:31
Is this going to be bad for markets in general?
0:34
I think that's the main argument going on right now.
0:37
And I think This is why we're seeing the markets react like
0:39
they are. So first and foremost, who am I
0:42
talking about? Of course, Donald Trump
0:45
appointed Kevin Walsh as the new Fed chair to replace Jerome
0:50
Powell and we're getting headlines like this coming out
0:53
of Yahoo Finance. Kevin Walsh pro our markets
0:55
react as pro Bitcoin economist tipped for Fed Kevin Walsh has
1:00
described Bitcoin as an important asset.
1:02
I got a lot of clips for you guys of Kevin Walsh in the past
1:05
talking about Bitcoin. Really makes you wonder what's
1:07
going on. I actually saw a good tweet from
1:10
our from our boy G money. He's like, why is Trump
1:12
appointing so many pro Bitcoin candidates?
1:16
Is he really serious about this America being the Bitcoin
1:21
capital of the world? Well, this move seems like it.
1:25
There's there's an interesting rabbit hole here with Kevin
1:27
Walsh. So first and foremost, I'm going
1:29
to play this clip. Here we have Michael Saylor.
1:31
He goes soon. Kevin Walsh will be the first
1:33
pro Bitcoin chairman of the Federal Reserve.
1:36
Let's play this clip for you guys.
1:38
Really going to set the scene for, I think, what his views are
1:41
for Bitcoin and then I'll unpack it a little bit.
1:47
You made reference to Bitcoin and I thought I heard a little
1:50
bit of condescension that people are buying Bitcoin in these
1:54
things. But doesn't it, Charlie Munger?
1:56
This is a Two or three years before he died, Charlie Munger
1:58
attacked Bitcoin. He called it evil in part
2:01
because it would begin to undermine the Fed's ability to
2:04
manage the economy. Or it could provide market
2:07
discipline. Or it could tell the world that
2:09
things need to be fixed. Bitcoin does not make you
2:13
nervous. Bitcoin does not make me
2:15
nervous. I can harken back to a a dinner
2:19
I had here in 2011 with a someone who is another guest on
2:24
your show. I won't say his name, OK, I just
2:29
did Marc Andreessen, who showed me the white paper that was the
2:33
original white paper. I wish I had understood as
2:36
clearly as he did how transformative Bitcoin in this
2:40
new technology would be. Bitcoin doesn't trouble me.
2:43
I think of it as an important asset that can help inform
2:47
policy makers when they're doing things right and wrong.
2:51
It is not a substitute to the dollar.
2:53
I think it can often be a very good policeman for policy.
2:57
And if I were to speak more broadly to what did Charlie
3:01
Munger and others perhaps have in mind, there is a
3:05
proliferation of securities that go under all sorts of names.
3:10
Many, if not most of them are not worth what they're might be
3:14
being traded for. So what did Charlie say?
3:17
And maybe his his pal Warren say there's the innovators, the
3:21
imitators and the incompetence. They're real innovators that are
3:25
happening in and around that new technology.
3:28
And what I would try to impart towards businesses and bankers
3:33
is that the underlying technology that Mark showed me
3:35
in that white paper or tried to show me in that white paper,
3:39
it's just software. It's just the newest, coolest
3:42
software that will provide us an ability to do things that we
3:45
could never have done before. Can the software be used for
3:48
good and evil? Yes, both, like all software.
3:52
So I don't cast aspersions like that.
3:54
If there's a final point, it's these technologies are being
3:58
built here. I don't just mean on Stanford
4:01
campus. I believe in the United States
4:03
and the world's most talented engineers from China and Europe
4:09
and everywhere they come to the United States even now to try to
4:12
build this stuff. And my view is by building it
4:16
here, that gives us an opportunity to be more
4:19
productive and create something very special over the next
4:22
decade. So it sounds like his views on
4:26
Bitcoin are pretty clear. Now, he did say something that I
4:30
think is very interesting and does lead into why I think
4:33
markets are a little uncertain or concerned about this move is
4:38
because he did say, you know, Bitcoin will usher in fiscal
4:43
dominance or discipline on the Fed.
4:46
And that's where I think most of the people are getting a little
4:49
bit of concerned. He is essentially being framed
4:52
as a hawk and what everyone really wants right now is a dub,
4:55
someone that's gonna lower, lower interest rates.
4:57
And I, I will go into his history a little bit, but I have
5:00
one more Bitcoin clip for you guys.
5:02
This one's from Squawk Box and it is from 2023.
5:07
It's really I think also going to in some respects show what he
5:12
believes in Bitcoin. There is a timeline here.
5:14
He has been historically pretty bullish on Bitcoin and of course
5:19
this is a Bitcoin show, but I will kind of zoom out a little
5:22
bit after this and show that what what the markets are
5:25
thinking about. So here is the next clip where
5:28
he talks about Bitcoin. This is on Squawk Box in 2021.
5:32
So I believe the first one was 2023 if I remember my timelines
5:36
correctly. This is 2021, so a little
5:38
earlier, still pretty bullish and, and really, you know, I, I
5:42
got a couple more clips for you guys, but I, I also want you
5:46
guys to pay attention to the price of these in these clips.
5:50
Are you, are you on board with, with, with Bitcoin?
5:52
I know Stan Druckenmiller is now on board.
5:54
I think when we've talked about Bitcoin in the past, I think you
5:58
you had a, a perhaps a lesser view.
6:01
I don't know if you have a different view today.
6:03
So, so Stan calls me his partner, I call him my boss.
6:08
One of us is lying. But I'll let you figure out who
6:10
who's who in that, Andrew. So I'd say I think that Bitcoin
6:16
does make sense as part of a portfolio in this environment
6:21
where you have the most fundamental shift, for example,
6:24
in monetary policy since Paul Volcker.
6:26
This is a big shift that we're seeing under the Powell Fed,
6:29
rightly or wrongly. So I'm not surprised in a period
6:33
of dollar weakness where Bitcoins doing what it's doing.
6:36
And I'd also suggest that part of the move in Bitcoin is taking
6:39
some of the bit away from gold. I think if Bitcoin never
6:43
existed, gold would be rallying even more right now.
6:46
But I guess guess if you're under 40, Bitcoin is your new
6:49
gold. So I think of Bitcoin as a lot
6:52
of things, but it's certainly with every passing day getting
6:55
new, new life as an alternative currency.
6:59
When you see the strength of the euro, the strength of the pound,
7:02
the strength of the R&B, the Korean Wan, the Mexican peso, I
7:06
guess we shouldn't be surprised to see the strength of Bitcoin
7:08
as well. Again, incredibly bullish, I
7:12
think on the idea of Bitcoin and this guy's the new Fed chair.
7:16
Now, when it comes from a Bitcoin perspective, I am kind
7:21
of getting flashbacks to Gary Gensler right now where
7:24
Bitcoiners were very happy about Gary Gensler being head of the
7:27
SEC. It turned out it wasn't
7:30
everything we asked for, rather anything we really wanted from
7:33
him except for maybe him allowing the ETF to finally get
7:37
approved. And part of me is feeling like
7:40
that might be the case here. He said some really good things
7:42
about Bitcoin in the past. We'll see what he does.
7:46
If he does actually get approved to be the next Fed chair.
7:49
It's going to be very interesting to see if he will
7:52
continue this pro Bitcoin stance.
7:55
There's actually, I, I believe it's a Wall Street Journal
7:57
article this morning. It's really asking the same
7:59
thing. Well, Kevin Ward, Bitcoin as the
8:02
Fed chair, especially historically, when you look at
8:05
what the Fed's done, what the institutions have viewed Bitcoin
8:08
to be, it's usually been pretty negative.
8:11
So maybe this is one of those things where you could say
8:14
things in the private sector, but once you're in the public
8:17
sector, once you're actually working for these institutions,
8:20
you have to essentially change your.
8:22
I'm holding my breath, but tentatively.
8:24
He does sound like he understands Bitcoin.
8:26
It does sound like he's had these decisions in the past.
8:29
He sees where the future is going.
8:31
He is pretty bullish on the idea of Bitcoin.
8:34
Now here's bull theory. This is kind of the, I guess the
8:40
negative view of why the markets crash on this.
8:43
There's actually 2 prevailing views here. 1 is the fact that
8:48
Poly market odds were going crazy last night when it was
8:53
almost certain that Kevin Walsh was going to be approved or
8:56
appointed rather, and the market started to tank.
8:59
I don't know if you guys been watching silver and gold, but
9:02
they had really strong reactions.
9:04
S&P 500's down Nasdaq's down of course Bitcoin is down and all
9:09
of these are happening at pretty much the exact same time, though
9:12
the other side is it seems like the US might be going back into,
9:17
you know the Iran war stuff. So maybe that's where the
9:21
geopolitical mess is coming from.
9:23
And, and guys, I, I, I see you guys are saying my internet's
9:26
down. I, I don't know what's going on.
9:27
I'm hard wired in. Forgive me.
9:29
I'll refresh. Hopefully I can get it working,
9:31
but just bear with me. Hopefully you can hear me
9:33
clearly. Here's broke bull theory.
9:35
And this is kind of the general consensus on why the markets, I
9:39
think are misreading this, or rather, this is the market's
9:42
read on who Kevin Wash is. I'm not gonna read the whole
9:45
tweet. It is a little long.
9:46
And then I'll reel this back in with a few little tidbits that
9:49
you just heard. So here's kind of the overview.
9:52
Kevin Wash is another reason behind the market crash.
9:55
Yesterday's sell off began when the probability of Kevin Wash
9:58
becoming the next Fed chair search sharply.
10:01
This reaction was due to Kevin Washes policy record.
10:04
Kevin Wash is not a new name. He served on the Federal Reserve
10:06
Board from 06 to 2011, again at the peak of the Great Financial
10:11
Crisis, and played a role during the We Already Said OA crisis.
10:16
Since leaving the Fed, he has been one of the most vocal
10:19
critics of how monetary policy was handled after that period.
10:23
He has repeatedly argued that QE inflated asset prices, increased
10:26
inequality and mainly benefited financial markets rather than
10:30
the real economy. He's described QE as a reverse
10:33
Robin Hood policy. He also said the post 2020
10:36
inflation surge was a policy mistake, not an unavoidable
10:39
outcome. That tells market he is less
10:41
tolerant to prolonged ultra easy policy, which is kind of what
10:47
everyone wants out of the next Fed chair.
10:50
He is pro Trump. He does have a really good
10:54
relationship with Trump, which is, hold on, sorry guys, I'm
10:59
still getting over this cold thing.
11:02
So it's really making you wonder, does Trump know what
11:07
he's doing? Again, I, I don't think Trump
11:08
is, is a dumb person. I, I think to get the levels
11:11
that he has been able to, you have to be incredibly smart or
11:14
at least incredibly savvy. And I don't think you're going
11:17
to appoint a new fed chair that is going to actively work
11:20
against what he wants to be done, which is of course, looser
11:24
monetary policy, more dollars, cut interest rates.
11:28
And I'll, I'll unpack that a little more after, after I read
11:32
this. So while Awash now supports
11:34
cutting rates, his frame work is different from what markets are
11:37
used to. He has a for rate cuts combined
11:39
with balance sheet. We should not open-ended
11:41
liquidity and this is a big issue.
11:43
Markets are pricing the risk that rates may come down but
11:46
liquidity may not expand the way it was in previous cycle.
11:50
Friendly for highly leveraged trades, stretch equity
11:53
valuations or liquidity driven round.
11:55
Simple terms. Trump wants lower rates, Walsh
11:58
wants tighter balance sheet discipline and markets fear rate
12:01
cuts without QE. The era of QE is no longer
12:03
guaranteed and markets are finally starting to price that
12:06
reality. This is why I think the markets
12:08
are reacting as well. I do agree with the conclusion.
12:11
I think people are reading into the Kevin Walsh decision and
12:15
This is why we're seeing the insane volatility in the markets
12:19
currently. But let's go in a little
12:21
further. Kobayashi letter you already
12:23
know well. I love this Twitter account.
12:24
They've been doing great work. Here is who Fed chair Kevin
12:28
Walsh is. He's the youngest Fed governor
12:29
in history. During the O 8 financial crisis
12:32
said the Fed waited too long to raise interest rates in 2022
12:35
said the Fed lost credibility by over stimulating post 2020.
12:39
Said QE inflates asset bubbles and worsen inequality.
12:42
Claims to support a rules based Fed not discretionary policy
12:46
making. And six wants a smaller Fed
12:48
balance sheet and more focus on price stability.
12:51
A new era of monetary policy is ahead of us.
12:54
So the point still remains. We are entering a new monetary
12:58
policy. We're entering uncharted waters.
13:01
This is going to definitely be a fundamental shift from Jerome
13:05
Powell to Kevin Watch if he does get approved.
13:09
And then here is where it does get very interesting.
13:13
If you remember the second clip, he said it very clearly.
13:18
You know he's a partner with Stan Druckenmiller and if you've
13:21
been in Bitcoin, you know that name billionaire hedge fund Stan
13:25
Druckenmiller. He has been pretty bullish on
13:30
Bitcoin for many years. There is a little bit of concern
13:34
on or no, I wouldn't say concern, but there is a little
13:37
bit of speculation whether that he's still holding Bitcoin cause
13:40
in 2021 he said he helped some Bitcoin and then in 2023 he said
13:45
he's tentatively bullish on Bitcoin, but he doesn't hold
13:47
any. And and then this is where
13:50
you're like, OK, so there's this Stan Druckenmiller connection
13:53
who also has a degree of separation from Scott Besset.
13:57
So the new Fed chair is partners with Stan Druckenmiller, who's a
14:03
Bitcoiner. Obviously Kevin Wash said some
14:05
big good things about Bitcoin. We have Scott Besset, head of
14:08
the Treasury, who also has a degree of separation away from
14:11
Stan Druckenmiller. And now let's play what Stan
14:15
Druckenmiller says about Bitcoin and, and now maybe we're
14:20
starting to see a picture of what this means for Bitcoin, and
14:23
we'll read an article from Coin Desk, or at least the headlines
14:26
of what this means for markets in general.
14:29
I have warmed up to the fact that Bitcoin could be an asset
14:34
class that has a lot of attraction to it as a store of
14:38
value to both millennials and the new West Coast money.
14:42
And as you know, they got a lot of it.
14:44
It's been around for 13 years, and with each passing day, it
14:48
picks up more, more of its stabilization of a brand.
14:52
So I own many, many more times gold than I own Bitcoin.
14:57
But frankly, if the gold bet works, the Bitcoin bet will
15:01
probably work better because it's thinner and more liquid and
15:04
has a lot more beta to it in terms of copper.
15:09
Sorry, Kelly, go ahead. Sure.
15:12
No, I was going to say under understood it and I, I certainly
15:14
don't want to overstate it. But and also like we said, you
15:17
have kind of a different rationale.
15:19
You know, when when Bill was talking about Bitcoin and he's
15:21
been very bullish on it for many, many years and a supply
15:24
demand kind of thing. But for years it's almost a
15:26
simple mathematical calculus as well, if we're talking about a
15:30
weak dollar. OK, so you heard Stan
15:34
Druckenmiller say it. He likes the Bitcoin bet.
15:37
There's actually another clip that's pretty funny.
15:39
I didn't I didn't pull it up for you guys, but he's on stage at a
15:42
conference basically saying nice things about Bitcoin, or rather
15:47
saying, you know, I kind of like this Bitcoin thing.
15:49
I should probably own some. But he started off the clip with
15:52
saying like, look, guys, I'm 70 years old, so I buy gold.
15:55
But this gold or this Bitcoin thing, it's probably a very good
15:59
bet if you are on the younger side of the demographics.
16:02
And then you just heard in that clip he said, hey, look, if the
16:05
gold old bet plays off, then I think the Bitcoin bet will play
16:09
off even better. What did we see in 2025?
16:12
The goal of bet is paying off. So Stan Druckenmiller, you know,
16:16
maybe he's old, maybe even in classifieds himself as being
16:19
old, but I think he's pretty sharp and pretty savvy on what's
16:22
going on in the market. So you don't become a
16:23
billionaire, you know, by accident basically.
16:26
Anyways, here is where and you start to see why the markets
16:30
reacted the way they did. And actually, before I pull that
16:33
up, let me let me just pull up the the numbers that we saw
16:36
yesterday. Gold and silver were low key
16:39
acting like shit coins yesterday.
16:42
Here we go all right, another bullet theory post and we have
16:47
just the this this one isn't fully updated because of the
16:50
gold and silver market. All the markets kind of, you
16:53
know, reacted a little more bullishly after.
16:56
So they didn't, they didn't stay this bad, but you can see how
16:59
crazy the volatility was yesterday, which is what I was
17:02
telling you, You know, at the end of yesterday's show, I'm
17:04
like, look, there's going to be some kind of announcement later.
17:08
I wouldn't be surprised if we see more volatility in the
17:10
market. What do we do?
17:12
You know, by the time I, I, I went to bed kind of early last
17:15
night, by the time I'm going to bed, I'm getting texts like,
17:16
bro, it's over. We're at like 82 K.
17:19
I'm like, oh man, fun time. So hey, I I predicted that I
17:24
guess my macro takes are getting a little better.
17:25
I guess my intuition is getting a little better here.
17:28
Anyways, here's the insane volatility that we just saw in
17:30
the last 24 hours. This was posted at 8:00 AM this
17:33
morning, so the markets probably reacted a little better.
17:36
But in the the last 24 hours, gold was down 10.9%, a raise 4.1
17:43
trillion from the market cap. Silver was down 21.5%, a raise
17:46
1.4 trillion from the market cap, Copper's down 10.3%,
17:50
Palladium down 20%, Platinum down 23%, the S&P 500's down
17:55
.6%, NASDAQ down 1.2%, the Russell 2000 down .76%, and
18:02
Bitcoin went down 6.6%. In total of the metals, equities
18:08
and crypto markets, in a single day we saw $6.5 trillion wiped
18:15
out of the markets. Absolutely insane movement we
18:19
saw yesterday. Like just looking at the gold
18:21
number itself, gold lost in about like an hour, like 2 times
18:27
the Bitcoin market cap and everyone's kind of trolling all
18:31
the Bitcoin. It's like gold, such a bad store
18:34
of value. It like it lost more value in
18:38
the last 24 hours than Bitcoin has ever stored in 17 years.
18:43
And they always tell us that Bitcoin is too volatile.
18:46
You, you, you got to just love where we are in the markets.
18:49
It's, it really is a good time to be an investor, even though
18:51
it's crazy. Anyways, here we go to Coindesk.
18:54
I think this again sums up what the markets are feeling.
18:58
And we have Stan Druckenmiller again.
19:00
He's got close connections with Scott Besson, who's in the
19:03
Treasury now. If Kevin Wash does get approved
19:07
to be the new Fed chair, Stan Druckenmiller is basically, you
19:14
know, their master. I was watching Star Wars last
19:16
night, and you can think of Kevin Wash and Scott Benson as
19:19
the apprentices to Stan Druckenmiller.
19:22
And here we go, Hedge fund billionaire Stan Druckenmiller
19:24
on Wash as Fed chair. No one is better equipped.
19:27
The conventional wisdom on Trump's pick for Fed chair says
19:30
he's a hawk, which is why the markets basically reacted how
19:35
they did. He has been out here saying,
19:37
hey, he wants a, you know, smaller Fed balance sheet.
19:40
He's not that big on loose monetary policy.
19:44
He might not be so quick to cut rates.
19:48
Stan Druckenmiller, someone that knows him is like, you know,
19:51
that's not necessarily who he is.
19:52
Stan Druckenmiller, of course, who made billion fading
19:55
conventional wisdom suggested that's not necessarily so.
19:59
He said in Financial Times this morning or Fiat Times this
20:03
morning, he's highly supportive of Trump's pick, Kevin Walsh, to
20:06
leave the Fed. He has a very close relationship
20:09
with Walsh and the brand. Spending of Warsh.
20:11
As always, hawkish isn't correct.
20:14
I will read a couple of quotes here.
20:17
The knee jerk reaction to Donald Trump's pick of Kevin Walsh to
20:20
replace Jerry Jerome Powell is that the president made the most
20:25
hawkish selection among the four reported finalists for the job.
20:29
That's why I think the markets were melting.
20:30
Melting down. Anyways, going further, this is
20:34
the quote from the Financial Time.
20:35
The branding of Kevin as someone who's always hawkish is not
20:38
correct. I've seen him go both ways.
20:40
Pause. Ayo, Ayo, Ayo, chill.
20:43
Druckenmiller, Ayo, pause. Anyways, Druckenmiller, of
20:48
course, who made billions working alongside George Soros.
20:51
Interesting name there, right? Especially when we know what
20:54
Scott Besson did with George Soros about nuking the pound is
20:57
surely in a position to know. Walsh has of course, been a
21:01
partner at Duken. Duken's, Duken's, I'm sorry,
21:06
since 2011. You could oh, wow, what's going
21:10
on? Here we go.
21:11
So again, he says he couldn't have picked a better, you know,
21:14
couldn't, couldn't have asked for a better pick.
21:16
Again, they relayed the the close relationship they had that
21:20
Druckenmiller has with Scott Beston and Kevin Walsh.
21:22
A lot of people have been saying, hey, dude, this is a
21:24
Druckenmiller monetary policy going on right now.
21:30
Again, he's bullish Bitcoin. He's bullish gold.
21:33
Now, as I was saying, it's going to be very interesting to see if
21:40
Kevin Walsh going in as the new Fed chair, if some shenanigans
21:44
happened like we saw with Gary Gensler.
21:46
This is kind of the initial gut feeling that I'm getting.
21:49
It's like, OK, remember if you forgot, Gary Gensler taught a
21:53
class about blockchain at MIT, so Bitcoiners were very, very
21:58
excited about him being the head of the SEC.
22:02
Turns out they were doing probably a lot more damage than
22:06
good. Though.
22:07
I did troll a little bit and say that Gary Gensler was really a
22:10
Bitcoin maxi because he tried, he tried his best to stop the
22:15
Bitcoin ETF only on the idea that if he approved a Bitcoin
22:20
ETF, he wasn't going to be able to stop the onslaught of shit
22:23
COIN ETFs. That's my that's my bullish
22:26
Bitcoin maxi case on Gary Genzer.
22:29
It is kind of a troll, but you you can read it however you
22:33
want. So new Fed chair from Trump and
22:38
really we got to kind of breakdown not just what he has
22:42
said or what he is currently saying.
22:47
You do have to work on this idea that it looks like Trump just
22:51
packed the Fed with people that he is aligned with Trump.
22:54
Actually, let me pull up the Trump tweet here 'cause again,
22:57
there is some signal in here that I did just cover.
23:01
But the fact that the president saying this when he approves
23:03
this, I think is saying a lot of stuff.
23:05
So here is the what do you call this true social post?
23:12
And it and it says basically everything that I just covered.
23:15
But again, this is coming from the president.
23:17
And you got to remember, like there is always some political
23:21
rhetoric when they say things and they don't just say things
23:23
just to say things. So here we go.
23:26
I'm pleased to announce that I'm nominating Kevin Walsh to be the
23:28
chairman of the Board of Governors of the Federal Reserve
23:30
System. Kevin currently serves as a
23:32
Shepherd Family Distinguished Visiting Fellow in economics at
23:35
the Hoover Institution, which is the clip that I played from you.
23:37
That was a Hoover Institution clip and lecturer at the
23:40
Stanford Graduate School of Business.
23:42
He is a partner of Stanley Druckenmiller at Dukent's Family
23:46
Office, LLC. He received an AB from Stanford
23:49
ajd from Harvard Law. He has conducted extensive
23:52
research in the field of economics and finance, issued an
23:55
independent report to the Bank of England proposing reforms in
23:58
the conduct of monetary policy in the UK and Parliament adopted
24:02
his recommendations. He became the youngest Fed
24:04
governor at 35 and served as a member of the Board of Governors
24:08
of the Federal Reserve System from O 6 until 2011.
24:11
Again, P great financial crisis time.
24:15
He also is at the Board of Emissary to the emerging,
24:19
merging and advanced economies in Asia.
24:22
In addition, he administrative governor, managing and
24:25
overseeing the Board's operation, personnel and
24:26
financial performance. And then prior to his
24:29
appointment to the Board from O2 to O6HE served as Special
24:33
Assistant to the President of Economic Policy and Executive
24:36
Secretary of the White House National Economic Council
24:38
Council. Previously, Kevin was a member
24:40
of the mergers and acquisitions departments at Stanley, serving
24:44
as vice president and executive director.
24:46
Right here is probably the biggest thing I have known Kevin
24:50
for a long period of time and have no doubt that he will go
24:54
down as one of the great Fed chairman, maybe the best on top
24:58
of everything else. And this is where like the Q
24:59
Anon guys get. I saw a lot of Q Anon post on
25:02
this. He is on top of everything else.
25:04
He is quote central casting and he will never let you down.
25:08
Congratulations, Kevin. So just unpacking a few things,
25:12
the president by name named Stan Druckenmiller, who is
25:18
historically kind of a Bitcoin bull, also worked very close
25:23
with George Soros. This is where the Scott Besson
25:25
kind of speculation came in that, hey, Scott, Scott Besson
25:30
was very good working with George Soros and essentially
25:34
nuking the pounds, pound sterling.
25:37
And now he's at the Treasury essentially doing the same
25:40
thing, this planned demolition of the dollar to basically
25:44
onshore industry, make US exports better, looser monetary
25:49
policy. And then, of course, I think the
25:51
biggest 1 is that last set, that last sentence.
25:57
I've had a good relationship with Kevin Walsh.
25:58
I've known him for a long time. So it looks like Trump packed
26:01
the Fed with people that are going to align with what he
26:04
wants done, which is what we've been saying, or rather what
26:07
they've been saying for a while. They want looser monetary
26:10
policies, lower interest rates, the value of the dollar,
26:14
increase liquidity. Yes, historically Kevin Walsh is
26:18
a hawk. But again, the fact that Stan
26:21
Druckenmiller is out here saying he's not always a hawk, that's
26:24
bad framing. And there's a connection with
26:27
Scott Besson. I think there's AI think it's
26:31
very safe to say that, you know, they're all in one big club.
26:35
Anyways, I say all that to say, look, we may not be in the club,
26:40
but we could still read through the headlines, read between the
26:44
lines here and understand what is potentially going to happen.
26:48
They've been saying it for a long time.
26:50
You need to hold assets. And I'm going to play it on a
26:53
Trump clip on today's numbers, which I think it's going to piss
26:56
everyone off if you didn't catch it yesterday.
26:59
But guys, the message has been the same on the show every time
27:03
I talk about Trump for months now.
27:06
They are going to run the economy so hot that if you do
27:11
not own assets, you are absolutely going to be left in
27:15
the dust. Now personally, I think you
27:19
should be owning Bitcoin. I think it's on discount.
27:21
I think we are going to see Bitcoin rebound very, very
27:24
strong. As we've said yesterday on the
27:26
show, gold or precious metals usually front run liquidity.
27:32
If we do get more liquidity, Bitcoin responds even better to
27:37
liquidity. As of now, again, remember the
27:40
business cycle as of now, liquidity has been pretty dried
27:43
up, hence why the Bitcoin price has been pretty dried up.
27:47
There's been no new liquidity. Bitcoin sniffs out the liquidity
27:50
once it's been pushed into the economy.
27:54
Bitcoin's going to RIP. So personally, again, I'm
27:58
tentatively bullish on this obviously because he is pro
28:01
Bitcoin or at least was pro Bitcoin.
28:04
It's going to be interesting if there's some kind of, I don't
28:07
know, backroom deals like we saw with Gary Gensler.
28:10
Again, I'm using the Gary Gensler example because that's
28:13
the latest one we have where someone was pro Bitcoin got
28:17
elected office. It seemed that once he got into
28:20
the into his position, his tune completely changed and he was
28:24
working for groups that weren't necessarily necessarily pro
28:27
Bitcoin, AKA the big banks. So we'll see what happens.
28:32
But as of now, this does seem like we might have a pro Bitcoin
28:39
head of the Fed. As I joked before in the past,
28:43
maybe it's a little too early to end the Fed, but maybe we can
28:47
get Bitcoiners in control of the Fed.
28:53
And if I was the, if I was the head of the Fed, you know what I
28:55
would do? I would tell you to buy Bitcoin
28:58
and then I would run the money printer so hot.
29:03
That's what I would do, guys. I would absolutely nuke the
29:06
money printer. I would flood.
29:09
I would helicopter dollars so that we can RIP Bitcoin.
29:14
Anyways, that's the new news. It looks like there's a pro
29:19
Bitcoin head of the Fed being approved by Trump.
29:21
Again, he is a family friend of Trump.
29:23
They've been in conversations for a long time.
29:25
So it looks like if this does get approved, Trump just packed
29:29
the Fed with pro Trump acolyte people that will follow through
29:33
on the Trump playbook. Now, there is this other kind of
29:37
conversation where Kevin Walsh has been saying for a while that
29:41
he does believe in Fed independence, that he doesn't
29:44
believe that the Fed should be political.
29:47
This could be just some gaslighting, you know, This
29:50
could just be him posturing as he is optics to be checked.
29:54
Yeah, bro, I would stymie the shit out of this for all my boys
29:58
out there. But yeah, he said he doesn't
30:04
believe the Fed should be political, which if you read it
30:08
a certain way, it's basically he's going to follow what Trump
30:12
wants to do. As we've been seeing the last
30:15
couple of weeks, last couple of months, anytime we talked about
30:19
the Fed or the headlines talked about Jerome Powell, it said
30:21
that Jerome Powell was taking a political stance.
30:24
Essentially, he's fighting what Trump wants to do it.
30:27
It's an opposition to what Trump wants.
30:29
So if you take all of these things together, it looks like
30:33
when Kevin Walsh gets in, they're going to they're going
30:37
to run the economy extremely hot.
30:38
Again, though, he's not going to be in until his first Fed
30:42
decision isn't going to be until June.
30:44
Jerome Powell isn't out till April.
30:46
So the timing, I think it's also very interesting.
30:49
They could have waited a little bit to announce the decision,
30:53
but what they do, they did it days after the the last Fed
30:57
decision. This is political.
31:00
You know, Jerome Powell went out and said some crazy stuff and
31:03
what Trump do a couple days later is like, hey, chill out,
31:05
boys. We're going to we're going to
31:06
tell you who the Fed Fed chair is and the markets are just
31:10
don't know how to digest this information.
31:13
I think it's pretty clear they're going to pump acids so
31:16
hard, guys, it's going to go to the moon.
31:19
I think Bitcoin's going to be a part of this.
31:21
I think if you're holding dollars, you're going to get
31:22
absolutely wrecked and you need to continue to accumulate the
31:27
writing's on the wall. They're maybe they're going to
31:31
do maybe this whole like, I don't believe in Fed balance
31:35
sheet expanding. I don't believe in QE.
31:38
Maybe this is further down the idea of we're seeing not QE, QE.
31:42
They're going to do everything that's basically QE, but they're
31:45
just not going to rhetorically call it QE.
31:48
And therefore he's able to kind of keep his reputation and then
31:51
Trump gets what he wants. I don't know.
31:54
I'm just tea leaf reading here for you guys as well.
31:56
So going further, as I said today, I do have a clip from
32:00
Trump yesterday. I, I literally, I didn't really
32:04
hear much coming out of that economic meeting that, that we
32:08
saw was going to be some, some big things I saw that they did
32:12
talk about later on in the day. I'm going to give you guys the
32:15
Fed chair nomination tomorrow. But before that they were doing
32:19
some kind of meeting and he said some crazy stuff about real
32:22
estate, which I like, not surprised.
32:25
And then in the news, we're going to, we're, we're simply
32:29
going now we're going to cover what's going on in the gold
32:32
markets because there's some interesting numbers to really
32:35
kind of put a, a framework for where we currently are in the
32:40
gold markets. And remember what Jerome Powell
32:42
said, hey, we're not taking any economic signals from gold.
32:46
Well, you probably should be. And then to wrap up the show,
32:50
guys, it's Friday. We're going to get a little
32:53
bullish. I got a little opium for you
32:55
guys at the end of the show. So that's today's layout.
32:58
I'll be right back and we will talk about Trump.
33:02
Today's episode is brought to you by Bitcoin Well Infinite.
33:06
If you're a serious Bitcoin buyer, you've probably hit the
33:09
same wall. Most platforms make you give up
33:11
custody just to play by the rules.
33:13
Bitcoin Well Infinite fixes that.
33:16
They're North America's only publicly traded, non custodial
33:20
OTC desk listed on the T SX Venture Exchange, which means
33:25
transparent operations and 0 counterparty risk.
33:28
You buy Bitcoin, you take immediate control period for
33:32
trades over $50,000, you get a dedicated executive Bitcoin
33:37
advisor, competitive spread starting at 1%, and immediate
33:41
delivery straight to your own wallet.
33:43
No custody risk, no withdrawal fees, just institutional grade
33:47
execution with full asset control.
33:50
If you want to buy Bitcoin the right way, book a free
33:53
consultation at bitcoinwell.com/OTC or e-mail
33:57
infinite@bitcoinwell.com. I want to give a shout out to
34:01
our partner Stamp Seed. Is your Bitcoin in cold storage
34:05
really secure? Are your seed phrases really
34:07
secure? Stamp Seeds Do It Yourself kit
34:10
has everything you'll need for you to hammer your seed words
34:13
into commercial grade titanium plates instead of just writing
34:17
them down on paper. Paper is fragile.
34:20
Titanium plates are strong. Your words are actually stamped
34:24
into the titanium plate with this hammer and these letter
34:28
stamping tools. Once the words are in, they
34:30
aren't going anywhere. No risk of the plate breaking
34:34
apart and pieces falling everywhere.
34:36
Titanium stamp seeds will survive nearly triple the heat
34:40
produced by a house fire. They're also crush proof,
34:43
waterproof, non corrosive, and time proof.
34:46
And now you can customize your titanium seed plates.
34:50
You can upload your design or logo and they will laser engrave
34:54
it on the back of your seed plate, the opposite side of
34:58
where the words are. Stamp your seed on Stamp seed
35:01
and use promo code simply to get 15% off anything on the Stamp
35:06
se-ed.com store. All right guys, we are back and
35:14
the current Bitcoin price is 82,840 which is a 34.3% discount
35:22
from all time high. The market cap is currently 1.66
35:26
trillion and the block height TikTok next block is currently
35:29
934,367. OK guys.
35:34
So as I was saying, there was a couple of clips coming out of
35:38
Trump. Obviously the big news was he
35:41
was basically doing an announcement of an announcement
35:45
of who his new Fed chair candidate was going to be.
35:48
But there was this clip that I saw go semi viral yesterday.
35:52
I think it came out around 2 right when the show ended.
35:55
And there's a lot of people reacting to this.
35:58
And on the surface, it does sound very bad.
36:03
I'm not, I'm not going to lie. But like, are we surprised here?
36:06
Like you got to take into account who Trump is, what his
36:10
background is when you're listening to this clip.
36:13
But let me just play it and then and then I'll kind of do my take
36:16
on it and then I'll do the Bitcoin take on it.
36:20
I think Scott said, though, is again, existing housing.
36:24
People that own their homes, we're going to keep them
36:27
wealthy. We're going to keep those prices
36:30
up. We're not going to destroy the
36:32
value of their homes so that somebody that didn't work very
36:35
hard can buy a home. We're going to get we're going
36:37
to make it easier to buy. We're going to get interest
36:39
rates down. But I want to protect the people
36:42
that for the first time in their lives feel good about
36:44
themselves. They feel like they've, you
36:46
know, that they're wealthy people and I want them to
36:49
understand it. You know, there's so much talk
36:51
about, oh, we're going to drive housing prices down.
36:54
I don't want to drive housing prices down.
36:55
I want to drive housing prices up for people that own their
36:58
homes and they can be assured that's what's going to happen.
37:03
Yo, oh man, he's undisputed GOAT.
37:09
That's that's like the funniest, you know, translated for the
37:11
layman. He's like basically like, hey,
37:14
yo, if you're young and you're poor, like F you, I don't care.
37:17
You're never going to buy a house.
37:19
I want to keep real estate prices high, dude.
37:22
Absolutely incredible. And, and you know, whatever it
37:27
it's, it's I, I, I found that clip absolutely hilarious.
37:30
Now there's been a lot of people and I don't own a house.
37:33
OK, guys, I, I don't own a house, but I still just, I just
37:36
find Trump sometimes just so hilarious that the just the fact
37:42
he goes out there, you know, isolates a majority of the
37:47
popular, you know, the, the base here.
37:50
He's like, hey, you can't own a house.
37:52
Hey, hey, you over there. I hear you complaining about
37:56
houses being too expensive. Don't care.
37:59
We're going to pump the price of real estate so that people that
38:02
are already rich can stay rich. It's it's absolutely hilarious
38:07
now. There's been a lot of people
38:11
that that I saw reacting to this and basically saying like, yo,
38:14
Trump just lost the midterms. You know, what the left has been
38:18
running on is, of course, affordability, inequality.
38:21
Like they literally just elected a, a socialist, damn near
38:25
communist mayor of New York City who ran on this idea of
38:29
affordability. Everything's too expensive.
38:30
I'm going to give you guys free shit, etcetera, etcetera,
38:33
etcetera. And then Trump comes out here
38:35
and he's like, Nah, bro, we're going to keep real estate going
38:39
up. It's nuts.
38:41
It's absolutely nuts, and a lot of people are reacting to this
38:45
and being like, oh, dude, that was the last straw.
38:48
Trump's going to lose the midterm.
38:50
And I'm just looking at him like, guys, this is a real
38:54
estate mogul. You think a real estate mogul
38:57
president is going to go out there and say, yeah, we're going
39:01
to nuke the price of real estate when a good chunk of his net
39:05
worth is in real estate? She's like, guys, come on, I get
39:09
it. I get it.
39:10
You know, we may never be able to buy a house, but I guess we
39:14
just got to get richer. We just got to buy more assets
39:16
because they're telling you the same thing, guys.
39:19
They're going to pump assets. Everyone's pin like, you know,
39:23
nitpicking about which asset they're going to pump.
39:24
They're like, I don't really care, bro.
39:26
We're going to pump all assets, dude.
39:29
They're going to run the economy so hot, they're, they're going
39:32
to absolutely, absolutely nuke the economy, bro.
39:38
Not the economy, the dollar, the purchasing value of the dollar,
39:40
the liquidity is going to go crazy, bro.
39:42
Like that's the reason I'm bringing this up.
39:45
It's because it's furthering my point of what they keep saying
39:49
in various different ways. If you don't hold assets right
39:52
now, you are going to be in the permanent underclass.
39:57
And I think the most what is it equitable?
40:02
Fair asset to own is, I forget what Nikko always says.
40:06
The best thing, the easiest thing that you can own is
40:09
Bitcoin. If you aren't buying Bitcoin
40:12
right now, if you don't have enough money to buy real estate,
40:14
you, you know, you don't want to buy gold bars, you don't have
40:18
enough money to buy freaking watches or, or art.
40:23
Like you need to buy Bitcoin. I don't care how much Bitcoin
40:26
you buy, but you need to get off 0 when they constantly tell you
40:31
the same thing, like basically F you If you don't own assets,
40:35
like sucks for you, you know, hey, get more, get richer
40:39
because we're going to pump assets or get your hands on
40:42
whatever assets you want. Obviously I'm putting words in
40:45
their mouth, but that's what they're saying.
40:46
You need to own assets. They are going to continue to
40:50
devalue the dollar. If you don't have any savings in
40:54
Bitcoin or in other assets, you're just you're literally
40:59
just not going to make it. You can't just be holding
41:02
dollars right now, especially with all the rhetoric you're
41:05
hearing coming out of the administration, the Trump
41:07
administration, the Fed, the Treasury, In fact, they're going
41:10
to turn on the money printer. You need to hold assets.
41:12
So I saw a lot of people react to this at Quan.
41:18
I saw a lot of people reacting to is this financial?
41:20
Yes, it we wait, No, no, it's not financial advice.
41:25
But what I would do is I would be buying Bitcoin.
41:29
I saw a lot of people reacting to this and they were, I think
41:35
they were making a, a generally good point in the idea that like
41:38
what the left is running on, what the opponents of Trump are
41:41
running on right now is affordability, because a lot of
41:43
people can't afford things. And like the, you know, the, the
41:47
American dream is really becoming unattainable,
41:51
unattainable for most people because most people can't own a
41:54
home. And yeah, that sucks.
41:57
I'm, I'm totally with you. Like I don't own a home, but I
42:03
don't think, I don't think he's necessarily like thinking that
42:08
this is a mistake. He's like, yo, I'm a real estate
42:10
mogul. You think I'm going to devalue
42:13
my real estate is like, no, I want the people that are already
42:15
rich to stay rich with the real estate.
42:19
It's so funny to me. It's such a Chad move, such a
42:22
Chad move. Anyways, if you're, if you're
42:27
mad about it, just buy more Bitcoin.
42:31
That's like the biggest thing. They're going to pump assets,
42:33
guys. Assets are going to go crazy.
42:36
You need yeah, yeah, exactly. You need you.
42:40
You need to buy Bitcoin, dude. Maybe one day the Bitcoin will
42:46
be worth enough that you can buy a house.
42:48
You can look back on this clip and be like, yeah, you know, I
42:51
kind of like Trump. I kind of like Trump, dude.
42:56
I I first of all, I am not advising anyone professionally
43:01
at anything. Dan OK, this is not any
43:05
professional advice. I am just an entertainer here.
43:08
I am just an economic talking head.
43:12
OK, let's go into the, into what's going on in the golden
43:16
markets, 'cause it, it's, I think it's fundamentally showing
43:20
us that there is a monetary reordering happen.
43:23
There is a monetary shift happening.
43:25
There is a, a sea change going on right now.
43:29
And even though they're telling you not to look, what's the
43:32
Orwell quote, even though they're telling you not to trust
43:34
your eyes and ears, when you look at the data, it's, it's, I
43:38
think, pretty clear. I want to give a shout out to
43:41
our partner Leaden, the leader in Bitcoin Back Loans unlock the
43:46
liquidity in your Bitcoin without having to sell your
43:49
Bitcoin. They've issued $9 billion in
43:51
loans to over 10,000 customers since 2018.
43:55
I absolutely love these guys. Not only do I have an account
43:58
with them, but I also have a loan.
44:00
And what I love about them is that there are no monthly
44:03
payments and you could pay back the loan at any time.
44:06
As soon as you send your Bitcoin as collateral, you'll have cash
44:09
in your account within 20 4 hours.
44:11
Over 1005 star customer reviews and they've never lost a single
44:16
dollar or sat of customer money. Go to learn dot leaden dot IO
44:21
slash simply today and you'll get .25% off your first loan.
44:27
I want to give a shout out to our partnersat123.com.
44:30
Sovereignty isn't just about your money, it's about your
44:33
communications too. When the grid goes down, most
44:36
people go dark. Cell towers fail and hurricanes,
44:39
cyber attacks and blackouts the satellite phones.
44:41
They don't rely on local infrastructure.
44:43
Iridium has 77 satellites in orbit, giving you a Direct Line
44:48
anywhere in the US, even offshore.
44:50
If you hold your own Bitcoin keys, you should hold your own
44:53
comstoosat123.com also has everything you need need to
44:57
start building your Bitcoin. Citadel, Starling, battery
45:00
backups, Faraday bags to protect your hardware wallets and much
45:04
much more. It's a one stop shop for anyone
45:07
serious about resilience and off grid independence.
45:10
Stay connected, stay independent, stay software.
45:13
Go to sat123.com/simply today and use promo code simply to get
45:18
15% off anything on the store. I want to give a shout out to
45:22
our partner Bitkey. If you already self custody your
45:25
Bitcoin, you know the deal with hardware wallets by now.
45:28
Complex setups, clumsy interfaces and a seed phrase
45:31
that can be lost, stolen or forgotten.
45:34
Bit Key fixes that. Bit Key is a multi sig hardware
45:38
wallet built by the team behind Square and Cash Out.
45:41
It packs a cryptographic recovery system and built an
45:44
inheritance feature into an intuitive, easy to use wallet
45:48
with no seed phrase to sweat over.
45:50
It's simple, secure self custody without the stress time names
45:55
Bit Key. One of the best inventions of
45:57
2024 get 20% off at bitkey dot world.
46:01
That's BITKEY dot world with the code simply.
46:11
All right guys, so I am going to start with this.
46:17
If you've been here, I already covered this, but I think
46:20
there's a good place to start. Remember Jerome Powell spoke on
46:25
and what was that Wednesday on Wednesday and one of the big
46:27
quotes that came out of it was this quote that you you
46:31
shouldn't be taking too much macro messaging from precious
46:34
metals right now. Actually, let's let's see what's
46:38
let's do a real time check on what's going on with gold and
46:41
silver currently. OK, so gold currently is
46:49
absolutely nuking. Let's go.
46:52
Yeah, we we getting the gold rotation to Bitcoin.
46:56
We'll we'll we'll look at that. All right, So today alone, holy
47:01
snaps just today gold has repriced 12.6%.
47:08
It is down from all time highs about 16% in the last two days.
47:15
Crazy, crazy. Did the did the we finally see
47:18
the blow off top and silver's even bigger.
47:20
Let's go. OK, Silver's at 32 percent.
47:24
Holy snaps, it's at $78. That's crazy.
47:29
OK, so silver might have topped in real time.
47:33
We might have called it 35% off all time high.
47:37
Silver's absolutely naked, so you know, I guess, I guess maybe
47:44
Powell was right. Don't take too much macro
47:46
message from precious metals, but man the volatility is crazy.
47:50
Anyways at these all time high numbers, shouts at the joke
47:53
consorti. Obviously these numbers are are
47:58
we'd have to update them for today, but still the idea
48:01
remains the same. I saw this and it's very
48:04
interesting. Joe Consorti tweets gold is
48:07
about to be larger than the United States debt of $38.5
48:12
trillion. So the gold market cap, even
48:15
though it just reprised about 1012%.
48:18
So there's still time, we'll see if it still runs.
48:20
But on this trajectory of gold continues to go up, it is about
48:26
to surpass the total amount of US global debt.
48:31
Now you got to understand the mechanics here.
48:34
Gold as hard money, U.S. debt as basically, you know, Fiat
48:39
currencies are basically just government debt.
48:43
Though you could also argue that a lot of the a lot of the US
48:46
debt isn't just Fiat creation, but all Fiat money is caused by
48:50
debt. So you can see that currently
48:53
what we saw in the last couple of months is that central banks
48:57
have been dropping dollars or Treasuries for gold and in the
49:02
in the in the short term, in the last couple of days as gold has
49:05
been running up, the market cap of gold has almost surpassed
49:08
U.S. debt. So as Joe is saying here at the
49:11
at the bottom, this is what a global monetary reset looks
49:14
like. Remember what Jerome Powell
49:16
said, don't look at precious metals guys.
49:18
It doesn't give us much macro signal.
49:20
When you look at the market cap of gold versus the US debt, it
49:23
does look like we are seeing a monetary reset.
49:26
Now going further, the same thing we're seeing with the
49:30
reserves at central banks. Gold has become the global
49:34
reserve asset. Central banks have dropped
49:36
Treasuries at A at an alarming rate and have been acquiring
49:41
gold at an exponential rate. And Bitcoin is just barely on
49:47
here. The there's only one, you know,
49:48
central bank that has some Bitcoin and is a Czech National
49:51
Bank with $1 million in Bitcoin, which is what like what's
49:55
$1,000,000 in Bitcoin? Is that like 100?
49:57
I think that's 100 coins. Maybe it's less.
49:59
It's a little less because we're dumping, but you can see this is
50:02
what a global monetary reset looks like.
50:05
So Jerome Powell's out here saying, hey, man, don't look at
50:09
gold, don't look at precious metals.
50:11
It's not telling us anything in the macro economy.
50:14
You look at the numbers and you're like it's telling us
50:16
everything there is a monetary reset.
50:18
People aren't trusting treasuries anymore.
50:20
The risk free trade is no longer the trade.
50:23
People are moving into hard assets and of course they first
50:25
move into hard assets that they're comfortable with, which
50:28
is of course gold, which is of course silver, Bitcoin just
50:31
entered the chat. We are still super early in this
50:33
guys. We are still super early on this
50:36
and here we'll we'll go you know, let me refresh this so we
50:39
get some updated numbers. So my chart here, this is or Joe
50:46
Consorti's chart is when gold was at 36 trillion.
50:51
So the updated chart with today's current decline, gold is
50:55
currently at 34 trillion. Now I guess let's do some U.S.
50:59
debt clock. I haven't done the US debt clock
51:01
in a minute and we will see what the current what what's going on
51:08
here? Why can't I?
51:13
yeahohits.org. OK, the current U.S.
51:17
National debt is 38.67 trillion. So gold currently at 34
51:24
trillion. You know, it hasn't caught up
51:27
yet, but it's still in the ballpark.
51:30
We're still in the ballpark. And then, of course, the kind of
51:33
going back to the numbers, no real estate, 672 trillion.
51:38
Trump wants to pump that up, dude.
51:40
You know what's really going on right now?
51:43
The total global asset market cap is just expanding and it's
51:49
going to expand more, which means that the total addressable
51:52
market for Bitcoin is only getting bigger, which means
51:56
numbers going to go up even higher.
51:59
I don't know boys, I don't know I'm starting to get bullish
52:02
here, but anyways, I like this chart a little better.
52:05
I did have the other one. I forget what it was.
52:07
It's like companies asset market, but I found this one a
52:11
couple of days ago, the asset market cap and I think this
52:13
really does put into perspective just how small Bitcoin is.
52:18
You know, we we've been seeing let me see if I can find the
52:21
other one. Is it companies companies market
52:25
cap? Is that what it is?
52:29
Blanket? I want it Companies.
52:30
Market cap. Yeah.
52:31
All right, This is the one you usually see.
52:35
Oh, wait, wait, wait, wait, wait, wait, wait.
52:40
This is the website you usually see.
52:41
Here we go. I'll ask it by market cap.
52:43
All right, so you usually see this one circling Twitter and
52:47
it's got gold and NVIDIA and silver.
52:49
You know, you've seen this chart before, and for a while you see
52:52
Bitcoin. Bitcoin was climbing up around
52:54
like 5 or 6 for a little bit. It had leapfrog silver, but this
53:00
one makes it seem, in my opinion, like Bitcoin is bigger
53:03
than it than it actually is. You know, here you see Bitcoin
53:08
hold on damn ads. You see Bitcoin at #11 This is
53:13
the chart you usually see on Twitter when it makes moves.
53:16
You know, Bitcoin pass whatever, whatever it's almost going to
53:19
pass Amazon, whatever it did for a little bit or no, sorry, it it
53:24
passed Facebook. So this one makes it seem like,
53:27
but the other day I was looking and I like this one
53:30
assetmarketcap.com. So it really puts into
53:32
perspective where Bitcoin is in the total global asset market.
53:36
And as you can see, Bitcoin's still a baby.
53:39
We're we're still we're on the first page, you know, or we were
53:43
we were on the first page this morning.
53:46
I guess we got knocked out of the first page.
53:48
We're at 26. Whoa, How'd that go from 1 to
53:56
25? There we go.
53:58
So you can see Bitcoin currently is the 26th largest asset, my
54:04
market cap, when you factor in equities, currencies, you know,
54:08
real estate, all of the global assets.
54:11
I think this frames Bitcoin a lot better in your mind that
54:14
yeah, to us, Bitcoin is the biggest, you know, biggest thing
54:17
in the room. But in reality, dude, it's still
54:20
tiny. It's still tiny.
54:22
Like it's amazing that Bitcoin gets as much mind share as it
54:27
does when if you look at total assets, it's like not even close
54:31
to being on, you know, the top 10.
54:34
So anyways, as I was saying earlier, we're we are seeing a
54:40
global monetary reset happen in real time.
54:45
It does look like gold has become the world reserve asset
54:48
again. Does that mean we're back on the
54:50
gold standard? Not necessarily.
54:52
But it does mean that everyone is losing faith in the Fiat
54:58
standard. And remember what Fiat means by
55:01
decree, which means that the people that are, you know,
55:05
decreeing something, they need to have some semblance of
55:09
respect, some semblance of belief in their authority.
55:13
And the people are dropping treasuries like hotcakes.
55:16
We are seeing things change. Things are happening behind the
55:20
scenes that most people aren't catching on that are definitely
55:23
pointing towards things are changing and going to be
55:27
different moving in the in the future.
55:29
You need to hold on to assets. Are we in a hyperinflationary
55:32
scenario with Fiat currencies like I was saying yesterday?
55:36
Kind of looks like it. Are we seeing the why?
55:41
You know, the what's it the why, the why murrification of the
55:45
entire world? I don't know.
55:47
It looks like the central banks think so.
55:49
They're like, we need to get in the hard assets.
55:51
We need to get in the hard money.
55:54
We need to drop these treasuries as Fiat money.
55:56
They don't even believe their own words.
55:59
They're like, we don't even want this treasuries that we don't we
56:01
don't want Fiat. They want God's money.
56:03
They're like, yeah, you know, these words that we've been
56:05
saying is money. We can't even believe them
56:08
anymore. You know, take with that
56:11
information as you will. Anyways, I'm going to end
56:17
today's show a little bullish. We're going to get a little
56:19
bullish. So this is what's getting me
56:22
feeling a little bullish. I don't even know what these
56:24
charts mean, but they mean something and it's some opium.
56:29
All right, guys, I'll be right back.
56:31
I want to give a shout out to our partner Hive Digital
56:34
Technologies. Fueled by clean energy, Hive has
56:37
quadrupled its global Bitcoin mining footprint and channels
56:42
that same scale into high performance compute, where their
56:45
AI cloud is now ranked number one in the world for network
56:50
performance. At Hive, you've got dual
56:52
engines, Bitcoin and AI humming, roaring, accelerating and
56:57
unison. They're lean and mean, they're
56:58
green and clean, and they're rewriting the playbook on
57:02
sustainable digital infrastructure.
57:04
You can catch the latest buzz at Hive Digital Tech or at Hive
57:08
digitaltech.com. I want to give a shout out to
57:11
our partner Bitcoin Ben dot IO. If you're into freedom Bitcoin
57:16
and building a real community, this is for you.
57:18
Gain exclusive access to real world members only private clubs
57:24
across the globe featuring poker nights, expert LED classes, Co
57:28
working spaces, educational meet ups, live events and more.
57:33
Current locations include Sarasota, Nashville, Boston,
57:37
Dallas, Las Vegas and Saint Louis, with new clubs launching
57:41
soon in West Palm Beach, Scottsdale, Alabama and beyond,
57:46
not to mention Bitcoin Bends Resorts and El Salvador.
57:50
There's three of them and they're absolutely beautiful.
57:52
You'll also get access to the first fully backed Bitcoin bank
57:58
with Fiat ramps and savings accounts.
58:00
It's called private KeyBank and you guessed it, it's based out
58:04
of El Salvador. Go peer-to-peer with Bitcoin
58:07
bulk buys, tap into home equity for long term Bitcoin growth and
58:12
join their exclusive mining pools.
58:14
If you're interested in mining, what are you waiting for?
58:16
Head over to Bitcoin bend dot IO.
58:19
Join today where Bitcoin meets freedom.
58:26
All righty then, all right, all right, all right, it is the
58:30
Friday show and you know, I I did have this other idea for
58:35
today of like get some feedback from the audience.
58:38
Let us know what, what you like of the show, what I want to do,
58:41
what you want me to do more of and I was going to officially
58:44
crash out on you if you guys said meme review, but I'm I'm,
58:47
I'm going to scrap that whole idea.
58:50
As you know, down under blue said here, he's like, I can't
58:53
take all the freaking bearishness, no matter how
58:55
bearish Bitcoin is. We need some optihopium.
58:58
It's Friday. I I feel like I got to end you
59:00
with some some opium here, but I am going to start with some
59:02
bearishness. I'm not going to lie.
59:04
Yeah, opium is copium. We do cope hard.
59:07
This is what we do. If you're looking at the charts,
59:11
Bitcoin is currently on course for four consecutive red months,
59:14
something that didn't even happen in 2022.
59:17
Let's pull it up. We'll pull it up.
59:19
We're, we'll chart boy a little bit just 'cause I know you guys
59:23
like it. I, I'm, I, you know, it's
59:25
audience capture here. I, I do what you guys like.
59:28
So there we go. We're, we're for sure, we're for
59:31
sure going to have 4 red months, something we didn't even see
59:37
happen since 2020. You know, 2022 didn't, didn't
59:43
happen. Last time we saw this similar
59:46
was in 2018123456. We had 6 red months in 2018.
59:53
That's the last time we've had anything more than three red
59:57
months in a row. So how much worse could we get?
1:00:01
Really? No, no, no, it could be two more
1:00:03
red ones. Anyways, going, James also
1:00:08
tweeted. That currently we are are also
1:00:14
on course for six red months versus gold.
1:00:18
This exact same thing happened in 2018-2019.
1:00:21
Again that was based on and Bitcoin then went on produce 5
1:00:25
consecutive green monthly candles.
1:00:27
Bitcoin now 30% below the 200 week moving average.
1:00:30
So let's let's see that and gold.
1:00:32
We'll we'll do some we will verify.
1:00:35
We will verify. Oh sorry, that's gold price.
1:00:39
Where's my this one? OK, so 123456 red months of
1:00:48
Bitcoin priced in gold. The law saw something similar
1:00:52
was in 2018123456. So if we are seeing history
1:01:01
repeat to not rhyme as I was saying yesterday, if you're
1:01:05
pricing Bitcoin in gold, we've been in a bear market and we
1:01:09
potentially are at the bottom of a bear market.
1:01:13
Now I bring all that up to essentially get to this next
1:01:16
post, which is now I am officially or actually before
1:01:21
that, I'm going to do this 10 heads just dropping some opium.
1:01:24
You gotta love it. So which comes first Bitcoin
1:01:26
300K or global liquidity crash, which triggers A worldwide
1:01:30
depression. And here's a chart.
1:01:33
The red chart is global M2 liquidity in blue.
1:01:35
We have Bitcoin price. You know, as you can see or you
1:01:39
probably remember, there was that chart going around for a
1:01:43
long time. We were even talking about it
1:01:45
that Bitcoin follows global liquidity and then it completely
1:01:49
broke, particularly around October 10th.
1:01:54
It went sideways and we were expecting it to catch up and
1:01:56
then October 10th liquidated the markets.
1:01:59
So if we were to catch up the Bitcoin price again to global
1:02:03
liquidity, that would roughly mean 300K per coin.
1:02:08
So, you know, make your bets now.
1:02:09
What do you think's gonna happen sooner?
1:02:11
Global liquidity crashes and some of the depression or I'm
1:02:18
sorry guys or Bitcoin catches out the global liquidity and and
1:02:22
we see some moon shots but finance a lot saying global
1:02:25
liquidity crash, but I'm pretty sure he's kind of a bear
1:02:28
anyways. Anyways, my bullish bullish
1:02:32
view. I am now officially a Wick off
1:02:36
TA Maxi. I really don't want dude.
1:02:41
I don't know what how Wick off works, but I do like the pattern
1:02:45
here Opium for the end of the day.
1:02:48
Here is the wickoff accumulation scheme.
1:02:51
Wickoff events, you know where bottom you have this
1:02:55
accumulation when institutions come in.
1:02:57
If you don't know the wickoff method, it was created around
1:02:59
the 1900s. It's, you know, technical
1:03:02
analysis for institution accumulation and distribution
1:03:05
phases and it is almost identical to what we're seeing
1:03:09
right now with the Bitcoin price.
1:03:12
Now there has been a lot of times Bitcoin is using the
1:03:14
wickoff method and they got absolutely wrecked.
1:03:18
In particular, one of our favorite Bitcoiners saying at
1:03:20
the time Bitcoin was like 2K, it was going to go to 1K totally
1:03:23
didn't happen. But now it might actually hold a
1:03:27
little more value because it's this institutional trading, you
1:03:32
know, for markets TA for markets and now we all know the
1:03:35
institutions here. So anyways, you know, here is
1:03:38
what the accumulation schematic, it hits a hits a support line,
1:03:42
it kind of trend sideways and then it breaks up past the
1:03:46
resist first resistant line to a new resistant line.
1:03:48
And then it goes back down to a second support line.
1:03:51
It does the same thing and then finally it breaks down below
1:03:55
that support line which is the spring and then it starts
1:04:00
ripping. Well he tweets.
1:04:03
I saw so many wake off accumulation charts like 2 weeks
1:04:06
ago halfway through. But now that we're actually at
1:04:08
the important part, I'm not seeing any wake off accumulation
1:04:12
charts. Laughing my ass off.
1:04:13
Fear is a very fantasy. Fascinating thing.
1:04:18
And this was yesterday at night. You can see it's pretty much
1:04:23
looking identical to the WIC off accumulation.
1:04:27
And if this last drop we just saw is the spring boys and
1:04:31
girls, I am officially a WIC off TA Maxi as he says here, we have
1:04:40
entered the spring bottom, we have entered the spring bottom.
1:04:44
I repeat, we have entered the spring bottom.
1:04:47
Is this what's playing out? Are we watching the WIC off
1:04:50
accumulation pattern play out to ATI?
1:04:54
Sure as hell hope so. I'll tell you that much.
1:04:57
I sure hopeful. Here we go.
1:05:00
Oh, sorry, that's Bitcoin and gold.
1:05:02
That doesn't give us what we want.
1:05:05
I mean guys, I mean, I mean that you can see it better like this.
1:05:11
I mean, guys, like tell me I'm not tripping.
1:05:16
Is this not wake off, wake off accumulation in real time.
1:05:25
I'll pull up some some generic wake offs too.
1:05:28
Wake off method. Let's see.
1:05:32
I'm just saying, I'm just saying boys and girls, I'm just saying,
1:05:36
man, it do be looking. It do be looking bullish if
1:05:43
you're looking at it like this accumulation, spring markup
1:05:49
distribution at the top comes back down.
1:05:53
I don't know man. All I'm saying is I'm giving you
1:05:55
guys some opium for the Friday show and I think it's playing
1:06:03
out. I think I think that's what's
1:06:06
happening. I think this is what's happening
1:06:09
boys and girls. I am officially a Wick off maxi.
1:06:15
We are wickoff TA Maxis. No, I didn't do any one minute
1:06:21
shorts, guys. Yeah, it's it's nothing but
1:06:25
wickoff choice jokes from here on out, boys.
1:06:29
We are officially everyone in the chat.
1:06:30
We are officially wickoff Maxis. All right, Yeah, I did.
1:06:38
I fully walked into that one. Totally walked into that one.
1:06:44
Yeah, yeah, yeah, yeah, yeah. All right.
1:06:45
OK. All right.
1:06:47
OK. Actually, I'll give you guys a
1:06:48
one minute chart and then. And then we're out for Friday.
1:06:50
OK. I'm giving the people what they
1:06:52
want. I'm giving the people what they
1:06:54
want. You guys love the one minute
1:06:55
chart. Oh, hey, Hey.
1:06:59
OK, OK. We're back, Ish.
1:07:03
Not anymore, dude. I let her bring up the one
1:07:05
minute chart and we start dumping.
1:07:06
You're welcome. We'll leave it here for a
1:07:10
minute. Oh, you guys can't even see it
1:07:15
the Wick off boys yeah Bitcoin Jesus gets it.
1:07:22
I just tuned in. I already feel like stacking
1:07:24
more. This is the way got to end the
1:07:28
show on Friday with a little bit of opium.
1:07:31
So let's see, hey, let's see if this plays out and I I actually
1:07:36
before I, before I, I, I leave, you know, just doing perplexity
1:07:46
over here. This is what makes me think this
1:07:49
is kind of why it's holding in better now.
1:07:53
Wickhoff method is a technical analysis framework developed by
1:07:55
Richard D Wickhoff in the early 1900s for trading stocks in
1:07:59
other markets. It focuses on interpreting price
1:08:02
action, volume and market cycles driven by large.
1:08:06
I repeat large institutional players.
1:08:10
Often called the composite man, I repeat large institutional
1:08:14
players. So while bitcoiners used to use
1:08:16
this in the past before the institutions got in, makes me
1:08:21
think like it might be holding up now because, oh, let's go.
1:08:27
Hey, we're pumping. Look at that.
1:08:29
Look at that shit. Let's go one minute chart
1:08:33
undefeated. Let's go.
1:08:36
We we are really have done. I don't know, man.
1:08:44
I don't know. Dude, this the spring bro?
1:08:48
Yeah, Bro's name is Dick Wickhoff.
1:08:51
That's crazy. Hey, yo, pause in the chat.
1:08:58
Hey, yo. Pause.
1:09:00
Hey, yo. All right.
1:09:02
Well, one minute, 1 minute. It's ripping.
1:09:06
Where? Where at?
1:09:07
Dude? Back above 83.
1:09:11
It's a good day, man. It's a good day, dude.
1:09:14
It's a wig off. Playing off.
1:09:15
Wait, pause. Are we seeing accumulation phase
1:09:20
happen right now? I think so.
1:09:24
All righty then guys all righty then Well, oh there we go now
1:09:30
it's going to dump on us. Are we barting too anyways, you
1:09:34
guys go watch the one minute chart on your own time thank you
1:09:37
man Water pain appreciate it yeah, I do feel a little better
1:09:40
I'm I'm still kind of cooked. I'm going to keep it super
1:09:45
mellow this weekend. It's also rainy, kind of cold
1:09:48
down here. It's going to be a cold weekend.
1:09:50
So you know me, I'm going to be chilling on the couch all
1:09:54
weekend watching Star Wars. I started Star Wars last night.
1:09:57
I'm going to nerd out this weekend, watch all the Star
1:10:00
Wars. I'm going to be a I'm going to
1:10:03
be a nerd. I ain't going to do nothing.
1:10:04
I'm going to, you know, hopefully not get sicker.
1:10:11
No time to get sick, boys. I am vitamin D maxing, vitamin C
1:10:15
maxing. I did cook a rib eye last night.
1:10:19
I got a lot of sleep. I'm going to be sleep maxing,
1:10:21
Star Wars maxing, vitamin D maxing and vitamin C maxing for
1:10:25
the weekend. That's my plans.
1:10:28
I'll see you on Monday. I hope you guys have a good rest
1:10:32
of your day and of course I hope you guys have a good weekend.
1:10:37
I will see you on Monday boys. Peace out.
1:10:43
Today's episode was brought to you by bitcoinwell.com, a
1:10:46
Bitcoin only platform on a mission to enable financial
1:10:49
independence.