Latest / Simply Bitcoin / Tom Loungo REVEALS how close we are to an economic reset | EP 1449

Transcript

Tom Loungo REVEALS how close we are to an economic reset | EP 1449 · Simply Bitcoin

• 0:02
  All right Tom welcome back. I'm super excited for this.
• 0:07
  I think one of the big topics on everyone's mind is the economic
• 0:11
  reset and I saw one of your private Patreon posts make an
• 0:14
  interesting statement that read Trump openly declared war on the
• 0:18
  Mexican cartels over the weekend sending silver do 90 plus
• 0:22
  dollars an ounce and I don't want you to give too much away
• 0:25
  of course is on your Patreon. But how is all of this connected
• 0:29
  for the people that aren't seeing the big picture here?
• 0:32
  Well, I noted it on Let's go back to Friday, a week of
• 0:35
  Friday, when the SCOTUS gave their very confused.
• 0:39
  Yeah, yeah. On the tariffs, yeah.
• 0:41
  Right. Tariff announcement and I noted
• 0:44
  that day like nothing was moving, right.
• 0:47
  The markets were like completely unfair, except silver and I, and
• 0:51
  I noted it about, I don't know, about 2:00 in the afternoon.
• 0:54
  I looked around, I'm like, I, I noted silver was like moving a
• 0:56
  little bit that morning. I'm like, OK, yeah, whatever,
• 0:59
  fine. But then all of a sudden I'm
• 1:00
  like 2:00 in the afternoon. I'm prepping for another podcast
• 1:05
  that evening and I'm like, dude, silver's like up 6 bucks.
• 1:09
  Like it's up, you know, 9 and wound up being up 9% on the day.
• 1:13
  And I, you know, I then went into that that evening and I
• 1:16
  was, that's when I recorded with Michelle McCrory for her, for
• 1:20
  her show. And you know, I tied it
• 1:22
  immediately thinking that, you know, Scott Besson was
• 1:24
  immediately like, you know, you know, giving it to goods to City
• 1:28
  of London and the LBMA that like, if you think that you're
• 1:31
  going to take our tariffs away from us, well, we're just going
• 1:33
  to take your silver pricing strategy away from you.
• 1:36
  That was my initial OK. The thing is, I think what
• 1:39
  really happened was the market got wind of the fact that there
• 1:43
  was a a big operation against the cartels over the weekend.
• 1:48
  Because remember, CJNG, the cartel and you know, that was
• 1:54
  under that was put under attack, has most of his operations in
• 1:58
  that center in the central part of Mexico, around part of Ayarda
• 2:02
  and Jalisco stayed and, and, and, and that whole center
• 2:06
  section of, of, of, of, of Mexico, South of Mexico City,
• 2:11
  which is where all the silver's produced.
• 2:14
  And so a lot of posts on Twitter all week talking about, oh, you
• 2:18
  know, it's like 24% of the world's, you know, silver supply
• 2:21
  comes from Mexico. And now, you know, I'm like, oh,
• 2:24
  that's interesting. But who does this really hurt?
• 2:26
  It doesn't hurt to comex comex the damn about, you know,
• 2:29
  delivering silver. They're not the ones that are
• 2:31
  having problems delivering silver.
• 2:33
  It's City of London, it's CLBMA that's fundamentally short
• 2:38
  silver. So I wrote a big post on Twitter
• 2:40
  about this the the other day as well, saying this is really what
• 2:44
  the the story is here. This is this is these two things
• 2:46
  are, are are not unconnected as it were.
• 2:50
  And you know, it's and then we did another podcast earlier in
• 2:53
  the week for with for Tommy Kerrigan with Colonel Towners
• 2:57
  town of Watkins. And we both went over like all
• 2:59
  of the geopolitical stuff that that Trump has been pushing,
• 3:03
  like the the attack on the Mancho and CJNG and Mexico.
• 3:09
  At the same time as these, the Trump's moved unbelievable, if
• 3:12
  unprecedented non wartime naval and air assets into the Persian
• 3:17
  Gulf to threaten Iran with hey, make a deal.
• 3:21
  It's time that and that negotiation has been ongoing for
• 3:26
  weeks. And then the silver thing and
• 3:30
  then gold, you know, piles on this week and is now a $5200 an
• 3:34
  ounce and and Bitcoin is being capped full of 70 very
• 3:39
  obviously. So there's a lot going on
• 3:44
  through these. All these markets are connected
• 3:45
  to each other and all these events are connected to each
• 3:47
  other because clearly now we're into the rush for collateral,
• 3:50
  right? We're into the rush for physical
• 3:53
  collateral. Who has it, who controls the
• 3:55
  pricing of it, you know, going forward?
• 3:57
  And, and so that if we're going to have a big monetary reset, as
• 4:00
  you, you know, pointed out at the beginning of the show, well,
• 4:03
  the big monetary reset is not about, you know what, what
• 4:10
  assets low, it's still the same assets as before.
• 4:14
  It's the question is who controls the pricing of them.
• 4:17
  And one of the things I've been thinking about a lot recently
• 4:20
  for the last couple of weeks is, is in many ways, this kind of,
• 4:25
  you know, what actually flows around the world, right?
• 4:28
  Is it silver? No.
• 4:30
  Is it gold? Hell no.
• 4:32
  Is it Bitcoin? A little bit?
• 4:35
  No. But paper claims to these
• 4:37
  things. Paper claims to the debt that
• 4:40
  these things that these paper claims themselves represents.
• 4:43
  So you have, you know, gold reserves nominally and then
• 4:48
  dollars which are nominally a, a claim to some amount of, of, of
• 4:54
  the reserves of the, the country in the, in the case of this, in
• 4:57
  this now treasury debt. So it's almost like we're now
• 5:01
  into this like double virtualization away from the
• 5:03
  collateral asset, for example, gold at the bottom of the extras
• 5:06
  pyramid, then the then M $0.00 and treasuries and then the
• 5:12
  credit markets on top of that. So there's all these layers of
• 5:15
  up extras pyramid that where people are trying to control the
• 5:19
  flow of money around the world. Does Bitcoin slot in this?
• 5:23
  Obviously some Bitcoin slots right into our layers one and
• 5:26
  two of of extra pyramid as both M0 and reserve asset.
• 5:32
  So the big question in a post 1971 world, and this is what's
• 5:40
  been I've been obsessing about recently, has been currency
• 5:44
  exchange rates and interest rates.
• 5:46
  Because if you control the value, if you control the price
• 5:50
  of acquiring the monetary assets, then you control the
• 5:53
  ability to leverage those monetary assets.
• 5:56
  And then of course, you control the flow of those monetary
• 5:58
  assets, especially if you control the clearing houses, the
• 6:00
  insurance companies, you know, the settlement layers, the
• 6:04
  illegal system, the political systems that enforce the legal
• 6:06
  system, yada yada, yada. That, that good structure to the
• 6:09
  legal system, yada, yada, yada. And who's that?
• 6:12
  And, you know, if the, and if there are, if the, if the
• 6:15
  monetary reset that we've, we've all been prepping for, for 20
• 6:18
  years, you know, and, and, and both the Bitcoin space and the
• 6:22
  gold space has been this like in effect, false dichotomy or false
• 6:26
  dyad between Fiat money and hard money or Fiat assets and hard
• 6:31
  assets. The reality is what you really
• 6:33
  should be working through is who's going to control the flow
• 6:40
  of the assets that actually move and who controls the pricing of
• 6:43
  the flow of those assets. And that's why silver is
• 6:46
  directly tied to the pressure Trump is putting on Iran and
• 6:53
  Venezuela. The the pressure he put on
• 6:56
  Venezuela and the, the, and, and his now attacks on the Mexican
• 7:01
  cartels. And at the same time, we're
• 7:03
  starting to finally see things like the Canadian banks and, and
• 7:09
  the drug trade through Canada come into focus.
• 7:11
  There is a common denominator amongst all of those things.
• 7:15
  And you've heard me say it 1000 times, it's City of London.
• 7:18
  Because they're the ones that control the pricing of
• 7:22
  ultimately they're the ones that control the pricing of the
• 7:24
  collateral assets of the world, the gold, the silver, the
• 7:26
  aluminum, the, the, the, the nickel, the oil and all the rest
• 7:31
  of it, right. So once you understand, once you
• 7:34
  see the world that way, it doesn't really matter.
• 7:37
  You know who you think makes up City of London.
• 7:39
  All you know is that it's ultimately City of London.
• 7:41
  And then of course, they're they're they're Co conspirators
• 7:43
  in Brussels who are trying to put the the political and the
• 7:46
  legal and regulatory imprimatur and overstructure superstructure
• 7:54
  on top of that to reinforce this at a global level and continue
• 7:58
  to keep it. And that would be the European
• 7:59
  Union, of course, so. Got it.
• 8:01
  OK. And I, I did see, I think you
• 8:04
  retweeted a post about this idea that like what, what is the
• 8:09
  situation in Europe currently? Last time you were on was the
• 8:13
  Davos World Economic Forum and I saw you retweet someone saying
• 8:17
  something on the lines of it was a Bismarck quote.
• 8:20
  You know it's not official until they deny that.
• 8:23
  There. Is.
• 8:24
  A problem and the the tweet was something on the lines of Europe
• 8:28
  is collapsing. And I think it was Nigel Farage
• 8:30
  saying like, no, we're not on the verge of collapsing.
• 8:33
  So what is the situation currently in Europe or as you
• 8:36
  like to say, you know, the Trump administration versus the Davos
• 8:39
  globalist crowd? Like what is the current
• 8:42
  situation right now? Sure.
• 8:44
  And it was not Nigel Farage, it was Donald Tusk.
• 8:46
  The. OK, OK.
• 8:47
  Yeah, the Prime Minister of of Poland, who himself is in a
• 8:52
  vanishingly influential position in Poland because President
• 9:00
  Carol Noraki is pushing Poland hard, you know, back towards the
• 9:06
  right Tusk and his foreign secretary, Radix Sikorsky, a
• 9:11
  City of London assets through and through.
• 9:13
  If you don't believe me, go, please go look at his Wikipedia
• 9:16
  page and tell me that that Radix Sikorsky isn't fucking Chatham
• 9:19
  House through and through. If if you if you can't see that,
• 9:22
  sorry. And by the way, his name ends in
• 9:24
  an I, not AY, meaning he's Polish.
• 9:26
  He's not necessarily Jewish, FYI also, So just throwing some
• 9:32
  stuff out there just to make sure that everybody knows
• 9:34
  exactly what we're dealing with. Donald Tusk, of course, is the
• 9:37
  former head of the is the former EU president who was there
• 9:43
  during I think he was the president who was there during
• 9:45
  the early days of the Brexit negotiations rank, you know,
• 9:48
  arguing with, you know, supposedly arguing with Theresa
• 9:51
  May over Brexit, yadda, yadda, yadda.
• 9:53
  He was of course brought in to Poland and brought in crashed
• 9:57
  out of the EU to be brought over to Poland to ensure that Poland
• 10:00
  does not does not get any funny ideas about leaving the EU.
• 10:04
  That's why he was brought there. So of course Donald Tusk going
• 10:07
  out there today. I'm saying, oh, there's nothing
• 10:10
  wrong with Europe. We are, we're one, you know,
• 10:13
  united front against evil and for.
• 10:17
  Yeah, Really. OK.
• 10:18
  Nothing is true until it's officially denied Otto von
• 10:21
  Bismarck. So that was what I tweeted out.
• 10:24
  That's what I retweeted this morning.
• 10:25
  It was a perp. Yeah, it was.
• 10:27
  I was about to say that exact thing, Right.
• 10:30
  And then I just read through the comments and like the third
• 10:32
  comment, that was that one. I'm like, well, that guy gets
• 10:34
  that guy gets the win for the, you know, engagement farm of the
• 10:37
  day because he was correct, right?
• 10:40
  So there's no reason for me to, you know, say the exact same
• 10:42
  thing He already said. Let's give that guy the credit
• 10:44
  he got to it before I did. Good for him.
• 10:46
  So so the but the situation in Europe is terrible.
• 10:51
  Like it's fall. It's clearly in.
• 10:53
  They're clearly in trouble, right?
• 10:56
  You have Hungarian elections in April.
• 10:59
  They have Brussels and quote UN quote Davos have gone all in on
• 11:05
  getting rid of Viktor Orban because Viktor Orban is of
• 11:07
  course the only person right now stopping the deficit spending
• 11:11
  from the European Commission. Now remember, this is a very
• 11:14
  important that this money would come from the European
• 11:16
  Commission issuing bonds and then taxing the entirety of the
• 11:21
  EU to pay for the the coupon payments on those bonds, which
• 11:26
  they don't currently have. Remember, the EU Commission is
• 11:28
  not a tax, does not necessarily have taxes spend authority.
• 11:32
  They've been trying for years to get some kind of credible taxes
• 11:35
  spend authority and they of course want the Ukrainian war to
• 11:39
  be the mechanism now by which they get that that authority.
• 11:44
  Viktor Orban is of course standing up and go again now.
• 11:47
  Yeah, that's nice, but no. And so you know, now what we
• 11:52
  have is Ukraine and Hungary. And so you have Hungary and
• 11:56
  Slovakia cutting off electricity to to the Ukrainians after the
• 12:01
  Russians have bombed all the friggin electrical plants in, in
• 12:05
  Ukraine during, you know, because of hell, if you're going
• 12:08
  to attack Russian infrastructure, Ukraine, well
• 12:11
  then, you know, turnabouts, fair play.
• 12:12
  At the end of the day, the this is MI 6.
• 12:15
  You know, MI 6's fingerprints are all over this, right?
• 12:19
  So, and far more so than the CIA, because clearly the United
• 12:25
  States wants nothing to do with this.
• 12:26
  I mean, I'm not saying there aren't remnants of the CIA
• 12:28
  involved in this, saying that they're secondary.
• 12:31
  Their involvement here is wholly secondary to to, I would say,
• 12:36
  British and French intelligence. This is the rest of the quote UN
• 12:38
  quote 5 eyes intelligence system.
• 12:42
  And if anything at this point the Trump administration is
• 12:46
  keeping their hand in Ukraine in order to stop these crazy people
• 12:52
  from getting biting us off into World War three.
• 12:55
  OK, so Orban needs to be removed and they the European Union
• 13:02
  desperately needs either him removed so that they can get
• 13:06
  they can put their boy in to get unanimity in the European
• 13:09
  Council, which is how any foreign let's see European Union
• 13:14
  foreign policy rules means they have to have your unanimity
• 13:16
  amongst the 27 member nation, 28 member nation Irving Fuck.
• 13:19
  Many are right now all right, meaning they are a a confederacy
• 13:24
  in this respect. They're a confederacy of equals
• 13:26
  and who makes up the Caribbean Council, but the heads of state
• 13:28
  of each of the the countries that make up the European Union.
• 13:31
  And you know, they're now trying, you know, Earz Levander,
• 13:36
  Satan and the rest of them are trying desperately to make the
• 13:38
  argument that they need to get rid of the unanimity clause
• 13:40
  because they absolutely desperately need to be able to
• 13:43
  issue these bonds to start the tax and spend authority to gain
• 13:47
  the tax and spend authority that they need.
• 13:48
  Because they also want to start their savings and investment
• 13:51
  union and mobilize, you know, mean, IE steal the retirement
• 13:57
  funds of, you know, continent wide of all the European people
• 14:01
  in order to, I don't know, build a new European defence
• 14:09
  architecture that doesn't need the United States.
• 14:11
  Meaning so that Emmanuel Macron would open Napoleon himself can
• 14:14
  get his European Union. Then they can go, they can go
• 14:17
  fight Russia without the United States sometime in the future
• 14:20
  and default. And in the process, of course,
• 14:24
  they will default on their own their existing stock of debt to
• 14:26
  reissue that debt under a digital euro framework and where
• 14:31
  they have complete control over who gets access to that monetary
• 14:34
  system. It's all I mean it.
• 14:36
  Just imagine the worst version of reality for Europe and
• 14:40
  Europeans and then multiply it times 2 and add five and you
• 14:43
  probably have what they've drawn up at the at the European
• 14:47
  Commission and or the World Economic Forum.
• 14:49
  So there you go. OK, OK, a lot to unpack there.
• 14:53
  But I, I, I think the, the question on my mind and, and
• 14:56
  probably people in the audience is we have been seeing like what
• 15:01
  you said and the E us been in trouble.
• 15:04
  Is there even a real, I don't know, concern or a non zero
• 15:08
  chance that like the EU is, is crumbling?
• 15:11
  Or is that too much of an overstatement of the situation
• 15:15
  in Europe? It's a good question.
• 15:17
  And like timing is for the gods, right?
• 15:20
  The structure of the European Union is fundamentally unstable.
• 15:23
  All of the moves that I just laid out for you are an attempt,
• 15:27
  a desperate attempt, I think, to create tax and spend authority,
• 15:31
  which then gives European Commission real political power
• 15:34
  over all member states so that they can then destroy the
• 15:37
  sovereignty of the individual countries of Europe and make the
• 15:40
  European Union the, you know, the true USSR that it wants to
• 15:44
  be with this unelected Politburo in Brussels, blah blah blah blah
• 15:47
  blah blah blah. Right.
• 15:49
  That's what they're trying for. That's what all of that, you
• 15:51
  know, whatever I just said, everything I just said in the in
• 15:53
  the last response is just, you know, a means by which to
• 15:58
  explain to you what the architecture they're trying to
• 16:00
  build is for this ultimate outcome, which is that the EU is
• 16:05
  sought effectively becomes the quote UN quote sovereign power
• 16:08
  over Europe. And then of course, if they have
• 16:10
  that block and they have A, and they have that kind of political
• 16:14
  certainty or political unanimity, power centralization,
• 16:19
  then they can leverage that centralization of power to
• 16:22
  capital markets because then the capital markets are going to
• 16:25
  look, we have political stability in Europe.
• 16:27
  And the thing about capitalism, they don't give a shit.
• 16:30
  It doesn't give a shit whether you're good, bad, or
• 16:33
  indifferent. They don't care, right?
• 16:35
  Invest it. At the end of the day, global
• 16:37
  investors have no memory and they have no morals.
• 16:43
  Global capital moves to where it's going to be treated best,
• 16:46
  where the return will be the best and where they have and
• 16:48
  where they can get the the most profitable 1 sided trades.
• 16:54
  That's where they're going to go first.
• 16:56
  That's what they're trying to build in Europe.
• 16:59
  They're trying to build A1 sided trade against all of this,
• 17:03
  right? Give me a perfect example of
• 17:05
  what I'm what I'm talking about. Let's look at the response since
• 17:07
  the the Japanese markets since February 8th Snap election
• 17:12
  cycle. What did snap elections?
• 17:14
  What did that do? Oh yeah, can't, can't, can't.
• 17:20
  Let the cigar go out, dude. I was like, wait, is this
• 17:24
  rhetorical or is he doing? No, no, no, no, literally, I
• 17:27
  don't want my cigar to go out because it's like the first one
• 17:30
  I've smoked in two days. It's like, no, I'm not giving
• 17:32
  this one up on time the rest of the afternoon to do so.
• 17:35
  So this is it. No, my, my point being is that
• 17:38
  what happened in, in, in the snap elections in Japan for
• 17:41
  years and everybody's like, well, the Japanese yen Kari trio
• 17:44
  will blow up and then Japan is trapped.
• 17:46
  And then, then all this rotten nonsense, dogs and cats living
• 17:48
  together. Why?
• 17:50
  Because they had political uncertainty in Japan.
• 17:52
  You had two wings in the Liberal Democratic Party fighting
• 17:54
  amongst themselves in effect, like the Democrats and the
• 17:57
  Republicans do here in the United States.
• 17:58
  And they're doing so on purpose. They're doing so in such a way
• 18:02
  that you never know where which way Japan is going to go.
• 18:05
  Uncertainty breeds bad investment breeds a bad
• 18:08
  investment environment, right? But what happened?
• 18:11
  We have certainty. We know exactly what's going to
• 18:14
  happen in Japan now. I mean, that maybe not exactly.
• 18:17
  Will the, you know, BOJ raise tomorrow and at the next meeting
• 18:21
  of the meeting after that, it's irrelevant.
• 18:22
  They're going to raise. We know they're going to spend
• 18:25
  money in Japan on certain things.
• 18:26
  They're going to realign their their domestic spending along on
• 18:31
  Trumpian lines, these kind of Hamiltonian American system
• 18:35
  lines that Trump is is talking about.
• 18:38
  Global capital understands that. Now, what happened in the
• 18:41
  aftermath of that election? No, But despite the voluminous
• 18:44
  British press to the to the contrary, the end was up.
• 18:49
  The Nikkei exploded and Japanese bond yields dropped 10 basis
• 18:52
  points all at the same time. I mean, how does the currency,
• 18:56
  the bond and the stock markets of a country go up at the same
• 19:00
  time? I thought they were all supposed
• 19:01
  to be fighting amongst them, amongst each other.
• 19:05
  Could it be political? Certainty breeds investment.
• 19:09
  No, you'd never be. That could never be it.
• 19:13
  That would be what, what are you talking crazy down here?
• 19:15
  What the hell is that? 5D chess?
• 19:17
  That's 47-D chess. Luongo, what the fuck are you
• 19:19
  talking about? I hear this shit all the time
• 19:21
  out of Steve Bannonites on the, on the Internet.
• 19:23
  I just want to like scream bloody murder because it's just
• 19:25
  stupid. Like, I hear it.
• 19:27
  I see it from libertarians. I see it remember, I'm like, no,
• 19:29
  we just saw it. They, I mean, and we're seeing
• 19:33
  it in the United States as well. The bond yields are down.
• 19:36
  The the Dow just hit 50,000 along with the Dow transports
• 19:39
  breakout and the dollar is up off, up off of the recent floor
• 19:45
  around 96. You know these things.
• 19:50
  And gold is up at the same time and silver's up at the same
• 19:54
  time. Bitcoin is the only thing that's
• 19:56
  down now. I think Bitcoin is down for a
• 19:58
  variety of reasons that have to do with wanting to destroy all
• 20:02
  Hopi who enter the crypto space. What else is new?
• 20:06
  Because if you can't demoralize gold bugs, and you can't
• 20:09
  demoralize silver bugs, and you can't demoralize US bond
• 20:12
  traders, and you can't demoralize Nikkei 225 traders,
• 20:18
  what's the most vulnerable asset out there?
• 20:20
  Yeah, and and they're doing a good job at demoralizing the
• 20:22
  Bitcoin markets. Yeah, they are.
• 20:25
  It's very successful. This is why I keep buying, and
• 20:27
  that's why I keep buying down here in the 60s.
• 20:29
  Yeah, that that's the move. That's what we've been telling
• 20:31
  everyone. All right, guys, So look, I, I
• 20:34
  am we're we're going to get into some specifics later on, but I
• 20:37
  do want to just pick Tom's brain on like the macro landscape at
• 20:40
  large. So then we can get into more
• 20:42
  specifics later on in the show. Another point and I am going to
• 20:46
  pivot a little bit, but we did see the the third negotiations
• 20:52
  between the Trump administration and Iran this morning.
• 20:55
  What's, what's your view on this?
• 20:57
  Are, is there going to be a war in the next couple of days with
• 21:00
  Iran? Like how, how are you viewing
• 21:02
  this whole, you know, negotiation aspect of Trump
• 21:06
  versus Iran or the US versus Iran?
• 21:09
  I'm going to, I'm going to give a shout out to my good friend
• 21:11
  Joaquin Forays over a new, new resistance who called this two
• 21:14
  weeks ago and said, look, the deal's already done.
• 21:16
  The question is, how do we sell that to the various political
• 21:20
  problems, the political factions that have that hold sway in both
• 21:25
  Israel and Iran and the United States?
• 21:29
  You got a lot to do there. And so I go by, I'm going to
• 21:33
  bring you back to the last summer and I say, well, what did
• 21:38
  Trump do last summer? Well, last summer's 12 day War
• 21:40
  was all about Trump becoming the most popular politician in
• 21:44
  Israel. How did he do that?
• 21:47
  He defended Israel from Iran's missile attack.
• 21:50
  But both sides got their hair mussed.
• 21:52
  Both sides got punched in the mouth hard.
• 21:54
  Both sides are still like hockey players gone.
• 21:57
  He just knocked teeth out, dude. I got to get dental work done.
• 22:02
  Like, you know, all hell, Jack. Who's by the way, Yeah, that
• 22:05
  that that was a hockey player right there.
• 22:08
  That's exactly why, by the way, I'm a an enormous hockey fan and
• 22:12
  I like hospitality. Even better knowing now that he
• 22:14
  plays freaking youth hockey. He plays hockey and seats his
• 22:17
  youth hockey and everything else.
• 22:19
  Patel's a bad ass. OK, So regardless of regardless
• 22:22
  of all the Steve Bannon and I both out there about it now, I I
• 22:27
  think that the deal was already done for all intents and
• 22:30
  purposes, like they're are they going to argue?
• 22:31
  Are they going to chest beat browbeat and everything else?
• 22:34
  Of course they are. But what what did Trump wind up
• 22:36
  with 12 after the 12 day war? He wound up with two beaten 2
• 22:40
  battered and beaten opponents who proved to both sides war
• 22:44
  Hawks that night and sustain or or survive an all out war with
• 22:51
  each other. Right good.
• 22:55
  So and that the United States can't them indefinitely either
• 23:00
  because there's only unlimited number of anti aircraft missiles
• 23:02
  that can be produced per unit time.
• 23:07
  So Fast forward to Venezuela in January, we all sat there and
• 23:13
  go, what is he going to do? He even going to talk fit his
• 23:16
  wheel and every all the libertarians are crashing out
• 23:18
  and Thomas Massie is, you know, is, you know, oiling his mangina
• 23:22
  in public and all the rest of it.
• 23:23
  And but the reality is, is that he did exactly what my friends
• 23:27
  like he had Burlingame and playing Holt and all the rest of
• 23:30
  them kept saying, which is that you move all these air, air and
• 23:32
  naval assets into blanket cover the entire region so that
• 23:37
  nothing can move in and out. And if nothing without your
• 23:39
  notice. Now, if nothing can move in and
• 23:41
  out without your notice, what is taken off the table?
• 23:44
  The false flag, which we all can, We can all we can.
• 23:48
  We can all predict right now what I mean, what have we been
• 23:51
  saying for years? Like you, you push Davos into a
• 23:53
  corner. You make them a cornered animal.
• 23:55
  You make them a wounded and cornered animal.
• 23:56
  They're going to be straight back.
• 23:58
  You, you, you corner City of London on the gold trade, the
• 24:01
  silver trade. Well, you know, now you're going
• 24:03
  to try and take out their boy Maduro in Venezuela.
• 24:07
  You know they're going to try and do something.
• 24:10
  They couldn't do it in Venezuela to make Trump look bad because
• 24:14
  why they put the blanket over it.
• 24:16
  What are they doing over the run?
• 24:18
  Meanwhile, the entire time during that thing, they were
• 24:21
  negotiating hard with with, right?
• 24:24
  Two weeks, 3 weeks, this went on.
• 24:25
  He negotiated with Maduro and then they just, and then
• 24:29
  eventually they got to a point where that was the, as far as
• 24:32
  the negotiations can go, Maduro finally said, OK, I you sent in
• 24:36
  the snake eaters, you kill all the freaking Cubans.
• 24:39
  You, you, you, the Russians and the Chinese stood their air
• 24:42
  defenses down for the most part and you sent in the freaking
• 24:46
  Delta Force so they can still trade the guy and then boom,
• 24:49
  done. And then immediately turn
• 24:51
  around, make a deal with the existing government, validate
• 24:55
  the existing government and, and start making and then signaling
• 25:02
  to the rest of Central and South America.
• 25:04
  Look, we're not really interested in the classic CIA
• 25:09
  style regime change. What we're into here is getting
• 25:11
  rid of these organized crime assets, these cartels, these
• 25:17
  drug cartels and the Russian mob, the Chinese triads and
• 25:20
  everybody else who's involved in all this and the British
• 25:23
  privateers, all these freaking people.
• 25:25
  You get them out of there and you lift that boot off the neck
• 25:29
  of the Venezuelan people, and by extension, now you're also
• 25:32
  signaling to the rest of Central and South America that you want
• 25:34
  to do the exact same thing again.
• 25:37
  Why did Scott descent in a different view, do the exact
• 25:41
  same thing, helping Javier Malay by giving him a $40 billion swap
• 25:44
  on during the elections cycle last fall?
• 25:49
  Same reason. Because they were in, because
• 25:51
  Britain was obviously going to come in and bomb their friggin
• 25:53
  markets and try and get rid of Malay at the last moment.
• 25:55
  Well, they're doing the same thing in Hungary right now by
• 25:57
  trying to blow up the Druzeville pipeline and all the rest of
• 26:00
  this stuff in order to try and in order to try and starve the
• 26:03
  Hungarian people and then blame it on Viktor Orban's
• 26:05
  recalcitrance and entrance against with with respect to the
• 26:08
  war in Ukraine. Is it going to work?
• 26:10
  No, Hungarian people are are built of sterner shit than that.
• 26:14
  No, no, why now? Let's now let's move all that
• 26:17
  around to Iran. Is the same situation not
• 26:20
  playing itself out in Iran right now?
• 26:23
  Unprecedented levels of air and naval assets.
• 26:26
  Not a lot of ground forces, mind, mind you, right?
• 26:30
  I don't see us massing 2 million troops.
• 26:33
  And right now near and naval, sorry, air and naval, not in
• 26:37
  there. And naval, Oh my God, air and
• 26:39
  naval assets. What do you do with air and
• 26:43
  naval assets? Go wipe out IRGC insulations.
• 26:48
  We tell the Russians we're doing the same thing folks that we did
• 26:51
  in Venezuela. You blanket the entire area, put
• 26:58
  a radar blanket over the entire area.
• 27:00
  Now they can't do a false fly operation.
• 27:05
  Now they can't USS Liberty, the Terrell Ford or whatever.
• 27:10
  Now Netanyahu is sitting there going simpering, seething like
• 27:14
  those simpering. Fuck that, He is OK and the
• 27:19
  neocons. And so now you have this where
• 27:22
  Trump gets to share strength and if you can, and now you've just
• 27:25
  pushed the deal to the point and maybe there is going to be a
• 27:27
  strike or two. And I think there will be I
• 27:30
  think they're going to be air strikes on IRGC installations
• 27:34
  and and and assets because the IRGC isn't backing down.
• 27:40
  Why? Because the IRGC, you know,
• 27:44
  devil's legions for the City of London are still getting told by
• 27:48
  London and by defense and everybody else like, no, this
• 27:53
  keep not negotiating with them. Keep saying So what are they
• 27:56
  doing? I think they're literally trying
• 27:58
  to to cobble together a nuclear bomb right now.
• 28:03
  OK, to get the Israelis off half cocked, yadda yadda yadda.
• 28:09
  Why? And it's something I've been
• 28:11
  saying for a long, long time. Myself and my friend Halsey
• 28:14
  English have been have been talking about this stuff going
• 28:16
  back to 2017. That the nuclear warhead was
• 28:19
  designed and paid for, was paid for by Iran and probably London
• 28:24
  and designed and built in North Korea.
• 28:27
  And the ballistic missiles were paid for and designed and built
• 28:30
  in Iran. And all you got to do is put the
• 28:33
  two together, OK. And so I think that's what the
• 28:38
  IRA are are are trying to do here.
• 28:40
  And, you know, in order to watch shoot off a dirty nuclear bomb
• 28:44
  to try and start World War 3. I can see it.
• 28:50
  And I can also see the mullahs in Tehran saying we went out of
• 28:57
  this bullshit. We went out.
• 28:59
  Same thing with Maduro. We went out.
• 29:02
  This is way beyond our pay grade at this point, way beyond our
• 29:07
  pay grade. This is not what we signed up
• 29:09
  for. This is why I can believe
• 29:12
  simultaneously the fatwa against nuclear weapons having been
• 29:16
  issued by the Ayatollah Hamani and the fact that the IRGC has
• 29:23
  been working towards a nuclear bomb at the same time.
• 29:28
  And that and that and gives all the freaking crazy Christian
• 29:33
  Zionists like Mike Huckabee and Lindsey Graham and all those
• 29:36
  freaking crazy assholes and all the Jewish Zionists and all the
• 29:40
  and all the City of London slop purveyors coming out of fucking
• 29:44
  GCHQ. The ability to write all the
• 29:47
  headlines and grandstand and do all their bullshit while the
• 29:50
  rest of us are like that doesn't make any sense.
• 29:54
  And then you and then you take it one step further and you say,
• 29:57
  oh, and then you take the peaceniks and they go, but if
• 30:01
  and you subvert them by saying, well, if Iran has a nuclear
• 30:05
  weapon, then they'll be safe from the regime change operation
• 30:09
  by the United States. And again, I said last year,
• 30:16
  there's a lot of crap for this. I said last year and I finally
• 30:19
  had the insight on it. Look, Iran's nuclear program is
• 30:22
  the forever war. Remove Iran's nuclear program
• 30:26
  and the forever war goes away. Because no, now nobody has a
• 30:28
  casas bell eye about going to war with each other, especially
• 30:32
  if Donald Trump after everybody got punched in the mouth and
• 30:37
  found out, Oh no, Iron Dome doesn't work or it works only so
• 30:43
  far. But got news?
• 30:46
  They can a lot more missiles than you can intercept them and
• 30:51
  that and therefore your children are going to die at some point.
• 30:57
  Everybody goes whoa, whoa, whoa, that's not what I signed up for.
• 31:00
  End up for winning without consequence.
• 31:05
  That's what I signed up for in this existential fight between
• 31:10
  Jews and crazy mullahs. Bullshit.
• 31:14
  Nobody signed up for that. Well, everybody signs up for
• 31:17
  that. But the truth of the matter is
• 31:18
  that that's not what happens. So what Trump has done is to
• 31:24
  say, look, oh, by the way, we have all this Star Wars shit.
• 31:27
  We have all this ridiculous freaking technology that we
• 31:30
  never show anybody. Hey, why don't we use it to
• 31:32
  like, actually forge peace while we build the next generation of
• 31:39
  stuff? And then he gets 60 nations to
• 31:44
  show up at the Board of Peace meeting over Gaza.
• 31:49
  He's doing an end run around the UN.
• 31:50
  He's doing an end run around the EU and all the post Bretton
• 31:53
  Woods institutional order. He's doing everything you can't.
• 31:57
  It doesn't get any better than that.
• 32:00
  So like, like in that respect, I mean, another thing is going to
• 32:04
  be easy or you know, he's every movie makes his brilliant 5D
• 32:08
  chip. No, but this is the way you have
• 32:10
  to like walk through this stuff. And if you're not willing to
• 32:13
  engage with the actual technology that's on the on the
• 32:16
  table, meaning the ballistic missile technology of the
• 32:19
  Iranians, the fact that the, you know, what our ships are capable
• 32:23
  of, what are manufacturing is capable of all of these things.
• 32:26
  If you only want to tell one side of the story, the story
• 32:29
  that fits the side of the story that fits your personal model of
• 32:32
  what you think is what you want to happen, well, that's nice.
• 32:35
  But you're not a serious commentator.
• 32:37
  And a lot of that in the space and it's happening with people
• 32:39
  that I would consider my friends.
• 32:41
  And it makes me very sad, but at the same time, I'm not going to
• 32:46
  sugar coat it because we're talking about people who want to
• 32:49
  because ultimately, at the end of the day, what are we talking
• 32:51
  about? We're talking about people who
• 32:52
  are willing to threaten us with World War three over the Senate,
• 32:56
  passing voter ID in the House, Senate voter ID in America in
• 33:00
  order for them to continue to steal our elections and flood us
• 33:04
  with poos. And you know, and, and all the
• 33:08
  rest of this is still California for no, fuck off.
• 33:12
  No, not happening to continue their grip so that they can
• 33:15
  continue to control the price of the collateral assets of the
• 33:19
  world when they've been offered an off ramp.
• 33:23
  Take your millions, take your billions, take all your money
• 33:25
  that you stole, take all the babies that you've killed and
• 33:28
  eaten and go away while we rebuilt the world because we're
• 33:32
  going to make babies babies and not eat them.
• 33:37
  And that was rejected wholesale last summer when Trump tried to
• 33:42
  talk everybody off the Epstein finals.
• 33:44
  That's what that was about. That was an offer of surrender
• 33:47
  before Total War. Now we're into Total War.
• 33:49
  That means he's willing to use military assets and in a
• 33:53
  particular way to enforce this. And if the Iranian government
• 33:59
  hasn't gotten that message yet, they're going to get it good and
• 34:02
  hard. And if they want to have a, if
• 34:06
  they want to have a negotiated peace and a limited exchange
• 34:09
  where we take out the rest of the IRGC assets and then they
• 34:12
  beat their chests and go blow, you know, a cup blow a couple of
• 34:15
  fucking missiles over one of our bases in Iraq.
• 34:17
  Go right ahead. Knock yourself out.
• 34:20
  But we're removing our trip wire troops from Syria.
• 34:22
  We've already removed them from Alton, the border crossing and
• 34:25
  Alton between are they sorry? The, the, the area to the West
• 34:30
  of the border crossing between Iran, Iraq and and and Syria.
• 34:34
  I can't remember the name of it off the top of my head.
• 34:36
  And then of course, they're starting to move the troops out
• 34:38
  of northeast Syria as well so that when I don't have tripwire
• 34:41
  troops. And guess who's like moved into
• 34:43
  the into the conversation about Iran, no less than City of
• 34:48
  London Muslim Brotherhood dude himself, Rasif Tayyip Erdogan of
• 34:53
  Turkey, who's willing to move the Turkish army against the
• 34:57
  United States. Really feeling froggy.
• 35:03
  Please take that Ebert again. Please take that leap so that we
• 35:06
  can wipe your fucking army off the board too.
• 35:12
  Because that's the only way we're getting the peace, folks.
• 35:14
  They built multiple armies around the world to fight World
• 35:18
  War 3. You got to bleed them all off.
• 35:20
  I agree with Ian Burlingham on this completely.
• 35:22
  Yeah, I don't agree on about everything, but I agree with Ian
• 35:25
  about this, and I agree with that framework.
• 35:26
  And that's what you've got to do to bleed off the potential of
• 35:30
  World War Three through a bunch of little skirmishes.
• 35:32
  That's what you do because that's better.
• 35:35
  Now, I don't consider Russia and Ukraine a little skirmish at
• 35:38
  this point, and they're holding on to that one, and that's the
• 35:40
  final boss. But clearly what's happened in
• 35:42
  Iran so far is nothing compared to what it could have been and
• 35:46
  what we were said we were being set up for.
• 35:48
  So let's take the win to the to so far and then let's move from
• 35:54
  now. So that's the and that's all.
• 35:56
  Every bit of this is tied directly into the capital
• 35:59
  markets and into the changes that are that are being a better
• 36:03
  company that and how money flows around the world and how goods
• 36:07
  flow around the world and for whom do they flow around the
• 36:10
  world. Got it.
• 36:13
  That should be that should be what every Bitcoin is should
• 36:18
  clue into and understand that you just don't.
• 36:22
  You just don't stack sass and then hope for the best.
• 36:24
  Yeah, I got I got 30 years of libertarian.
• 36:27
  I got sorry 50 years of failed libertarian politics that these
• 36:32
  people can't get arrested running for dog catcher in East
• 36:35
  Texas as prima facie evidence that that political strategy
• 36:40
  does not work. So stop chuckling Collopsitarian
• 36:46
  and and let's engage with the real world.
• 36:49
  OK, I'll. No, I'm not.
• 36:50
  I love it. I, I, I, I think that's a
• 36:52
  perfect way to pivot. I'm going to play the first
• 36:54
  commercial ad and we'll come back and talk about capital
• 36:57
  markets where the money's flowing and, and really, you
• 37:00
  know, specialized for, for our audience here it is a bunch of
• 37:02
  bitcoiners. The last time you came on and
• 37:04
  you talked about libertarians. They, I, I think some of them
• 37:07
  lost their mind, but now they're like.
• 37:09
  You know, I think. Tom was kind of right about a
• 37:11
  lot of this stuff. So again, quick commercial break
• 37:13
  and, and we'll, we'll, we'll start where we just stopped.
• 37:16
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• 39:29
  OK, Tom, so we covered the macro, the geopolitical
• 39:34
  landscape where we currently are from your perspective and you
• 39:37
  said, you know, for the the big corners in the audience, for the
• 39:41
  people watching this, what they really need to watch is the
• 39:44
  capital markets and how money flows.
• 39:46
  So can you explain that? Could you maybe give people just
• 39:49
  the one O 1 and then we can get into the specifics of it?
• 39:54
  OK, one O 1 of capital flow and that would be that would be very
• 39:59
  difficult. But ultimately it comes down to
• 40:01
  where we are today. It's about exchange rates and
• 40:04
  interest rates. And Bitcoin obviously sits at
• 40:06
  the center of both of those things because you can you can
• 40:10
  blend your Bitcoin and interest and you can exchange bitcoins
• 40:13
  versus dollars, right? That's what it does.
• 40:15
  So ultimately, but at the end of the day right now and probably
• 40:19
  into the future, U.S. dollars are going to be the.
• 40:22
  Settlement currency of choice and they are so and whatever
• 40:25
  form they take. And for that reason, we have to
• 40:29
  understand that for the first, as I've explained many times,
• 40:34
  for the first time in our lifetimes and really going back
• 40:37
  into the formation of the Federal Reserve, saying, I'd say
• 40:39
  back to Bretton Woods, the United States is finally
• 40:41
  actually in charge of its own in, in charge of its own
• 40:45
  monetary policy. Because we as the domestic
• 40:48
  market, as a domestic thing, we have control over the, the price
• 40:53
  of dollars in the oversea in, in the world markets, meaning so.
• 40:58
  And that's because of the, the difference between the secured
• 41:00
  overnight financing rate versus Libor, the London interbank
• 41:03
  offer rate, which now no longer exists.
• 41:07
  Technically it's still exists, it just doesn't exist.
• 41:09
  It's now going to exist as a premium or discounts the SOFR
• 41:13
  depending on the demand for dollars overseas.
• 41:15
  But here's the thing the sofa rate is going to determine is
• 41:19
  determined by the domestic repo markets, the domestic man for
• 41:23
  demand for money. Therefore, the United States has
• 41:29
  control over its monetary policy in that respect, because the Fed
• 41:32
  can now look at what's happening in the dollar markets
• 41:35
  domestically, and they can set monetary policy as opposed to
• 41:38
  before, where they were always having to take cues off of what
• 41:41
  was happening in the euro dollar markets because the officer
• 41:45
  dollar markets, because Libor was responding to it.
• 41:50
  And therefore, when the debt in the United States was indexed to
• 41:54
  Libor, if Libor blew out, that meant that your credit revolver,
• 41:58
  your credit card rates, your adjustable rate mortgages or
• 42:01
  whatever, they all went up based on what the euro dollar markets
• 42:04
  needed, not what was happening relative to the domestic
• 42:07
  economy. the Fed is trying to supposedly set monetary policy
• 42:11
  based on what they're seeing in the domestic economy.
• 42:15
  While when they raise interest rates in the economy slows down
• 42:17
  too far too fast, they of course cut short their rate cutting
• 42:21
  cycle, thereby really putting City of London in charge of our
• 42:26
  interest rates. That system, that regime is
• 42:30
  over. It's gone.
• 42:30
  It's now the place in the dustbin of history.
• 42:34
  And because of that, the United States and the US dollar is in a
• 42:38
  far better position than it was when Bitcoin was first when it
• 42:43
  most of its success as an attracting capital, right.
• 42:48
  And now we have to look at what its next role is going to be,
• 42:52
  which now since it's proven itself as a, a, a very good form
• 42:58
  of collateral, right, Regardless of the froth that exists within
• 43:06
  the Bitcoin market and everything else.
• 43:09
  Bitcoin now can move in next to gold and slot in next to gold as
• 43:14
  an excellent collateral asset for a world where we want to
• 43:18
  reduce the amount of financialization and leverage
• 43:21
  and gearing within the global markets, the global dollar
• 43:24
  markets and by extension all the other local markets and allow
• 43:32
  money to flow where it wants to go the most as opposed to it
• 43:36
  going to make money on money for private equity.
• 43:40
  And you know all those, all those guys.
• 43:43
  That's what Bitcoin is supposed to help us do.
• 43:46
  Now Bitcoin is a collateral asset potentially once the
• 43:49
  United States finally gets on board with with actual solid
• 43:54
  digital asset regulation at the at the, you know, at the federal
• 43:59
  level, which then gives institutional investors and
• 44:02
  everybody in the banking system clear roles as to how to work
• 44:05
  with Bitcoin. Like it or not an ARCO
• 44:09
  capitalist. This has got to happen.
• 44:11
  If you wanted to, if you wanted to go through the next stage of
• 44:14
  evolution, then once that's done, then you're going to watch
• 44:21
  Bitcoin take its place next to gold.
• 44:23
  That's what the Trump administration has been talking
• 44:24
  about. And then and Bitcoin and gold
• 44:27
  are not the same. Clearly now Bitcoiners prefer
• 44:30
  Bitcoin to gold and gold bugs prefer gold to Bitcoin for a
• 44:33
  variety of different reasons. I don't care.
• 44:35
  I happen to see them as two separate assets that have
• 44:38
  different characteristics and therefore they have two
• 44:42
  different functions in the market, right?
• 44:45
  So that being said, I love gold because it doesn't move.
• 44:51
  I love the fact that when you buy gold, you lose 10% on the
• 44:53
  buy and you'll lose and you got to wait for it to go up 20%,
• 44:56
  another 10% before you can sell it because it's just not going
• 44:59
  to move. That means that once it goes in,
• 45:01
  you know, gold, gold's like your own personal Roach motel.
• 45:03
  Once it goes in, it's not coming out again.
• 45:05
  And it's savings and it's the kind of, it's the kind of wealth
• 45:08
  generation, kind of wealth foundation that doesn't move
• 45:14
  until it, until you got like, you know, retarded return on
• 45:17
  like the gold I bought in 2002, right, Or the silver that I
• 45:20
  bought in 2002. That stuff might come out of
• 45:22
  storage at some point, but as of right now, it ain't going
• 45:25
  anywhere. And the reason and, and that's a
• 45:28
  very important thing. So it's a very good thing that
• 45:31
  we did gold up out of the ground to, to tell Milton Friedman to
• 45:35
  fuck himself and, and, and put in a vault somewhere.
• 45:41
  That's a very good thing. It's an we, we chose the
• 45:43
  opportunity cost of producing those money assets, those those
• 45:48
  monetary units and we stuck them somewhere.
• 45:50
  Bitcoin sitting on people's balance sheets, not moving is
• 45:53
  the same thing in the crypto world.
• 45:55
  Bitcoin is like gold and that it's slow and it's expensive to
• 45:59
  move at scale and all of that stuff.
• 46:03
  I mean, I know there's lightning in this layer too and all that.
• 46:06
  I know all about that stuff. But just like fundamentally at
• 46:09
  its core as a proof of work coin with its particular set of
• 46:13
  attributes, right? There's a reason why Bitcoin won
• 46:17
  over all the other ones that I tried to add more transaction
• 46:21
  volume. And you know why?
• 46:24
  Because actually people want it not move, right?
• 46:27
  That's what's that's what's good about collateral.
• 46:29
  Collateral doesn't move. It's just borrowed against.
• 46:32
  And then we build shit in the real world with it.
• 46:34
  And then the and then the loans paid off and the collateral
• 46:36
  stays exactly where it was, right?
• 46:40
  That's the break on the leverage that you can build off of that
• 46:44
  collateral. Because if people try to issue
• 46:47
  too many loans against not enough collateral, what happens?
• 46:50
  Everybody starts calling the loans in asking for the
• 46:53
  collateral and the loans will collapse.
• 46:54
  And you know, and, and So what are we watching now?
• 46:57
  We're watching an epic repricing of gold and silver as a function
• 47:03
  of their need as collateral in the financial system in order to
• 47:06
  justify current asset valuations.
• 47:09
  We have one or two options. We can either like gold and
• 47:11
  silver go up another 4X from where they are, or we can allow,
• 47:16
  you know, real estate and everything else to collapse 75%
• 47:19
  from where they are. Trump just came out and say the
• 47:22
  Union address the other night said we're going to protect the
• 47:24
  value of the valuations of these assets because that's the
• 47:27
  because that's the path to the least amount of social
• 47:30
  disruption, right? And bitcoins also a part of that
• 47:36
  and the younger generate into Bitcoin and made and some of you
• 47:40
  made fabulous wealth on it. I wish I had I was at I was
• 47:44
  there at Bitcoin at the beginning and I squandered it
• 47:45
  all, all gone. I wish it wasn't.
• 47:47
  I'm not all gone. I have a little bit I have more
• 47:50
  than my fair share, let's put it that way.
• 47:52
  I have 21 million coins, you know, divided by 9 billion
• 47:55
  people on the planet. I have more than my fair share
• 47:56
  of Bitcoin, right? But, but ultimately, you know,
• 48:05
  that we're hoping that's what we're looking for at this point
• 48:07
  in time. And so that way money will then
• 48:10
  flow differently than it's flowed in the past.
• 48:13
  And the argument for Bitcoin also now has to evolve as well.
• 48:17
  That's what I've been trying to say to Bitcoin now for a couple
• 48:19
  of years. That you, you know, I, I, I, I
• 48:22
  think I, I, I said, I meant, I meant for years, like before
• 48:26
  gold really started moving. I said, at some point, folks,
• 48:28
  what's going to bake your noodle?
• 48:29
  Is that the Federal Reserve? No, I wasn't really thinking
• 48:32
  about the, the current situation with Besson wanting to destroy
• 48:35
  the Fed or, you know, bring the Fed back in under the Treasury.
• 48:39
  But assuming that we still had a Federal Reserve, that the Fed
• 48:41
  would want to see a higher gold price that that would bake your
• 48:44
  noodle like the Fed would, would, would welcome a higher
• 48:47
  gold price. Why?
• 48:48
  Well, because that means that they have a higher, bigger stock
• 48:51
  collateral against their their total balance sheet, right?
• 48:54
  Because everything else on the Fed's balance sheet is just
• 48:58
  Treasuries and mortgage-backed security, 90% of it, right.
• 49:02
  But now more than that. Now it's fifteen $5000 gold.
• 49:06
  Like the gold is worth like $1.2 trillion or something.
• 49:10
  I guess the, the balance sheet of that balance sheet is 6.76
• 49:13
  point 8, whatever the hell it is.
• 49:15
  I guess it's six, 5 1/2 to one ratio.
• 49:18
  Leverage ratio used to be 15 or 18 to 1.
• 49:20
  Now it's 5 1/2, right? Was it going to get down to 2 to
• 49:24
  one, one to one? I don't know.
• 49:25
  It's going to get to somewhere, right.
• 49:28
  Well, the same thing I also said at the same time, is it just
• 49:32
  wait for the day that the Fed puts balance sheet.
• 49:35
  Why? Because they need to collateral
• 49:36
  asset. But really the Fed is under
• 49:40
  Trump investment are not going to put Bitcoin or gold any more
• 49:44
  gold on the Fed's balance sheet. That's clearly not going to be
• 49:48
  the case and the Fed is going to be repurposed to a different
• 49:51
  type of vehicle, right? But gold and Bitcoin are
• 49:57
  absolutely a part of the national balance sheet of the US
• 50:00
  Treasury Department and or the systems around the US Treasury
• 50:06
  Department in a public, maybe you call it a public private
• 50:10
  partnership or the sovereign wealth fund or whatever, or, you
• 50:12
  know, certain particularly expedient ET FS like for
• 50:16
  example, GLD, right? GLD at this point is, is a, is a
• 50:20
  national asset. SLD is it would be as well.
• 50:26
  I tell a lot of things about. I got other things to talk about
• 50:29
  gold and silver and how they're being repurposed for different
• 50:32
  reasons and what vehicles are going to do what.
• 50:34
  But as I said before, as I was just implying, the Fed is going
• 50:38
  to be repurposed to do a specific task.
• 50:40
  It's no longer going to be all things to all people, the sole
• 50:42
  issuer of the monetary unit, yada, yada, yada, yada.
• 50:45
  It's no longer going to be that the treasury is taking back a
• 50:49
  lot of power that it's that was ceded to it from it to the Fed.
• 50:54
  So some things are coming back. Well, the same thing is
• 50:58
  happening in the gold and silver markets because because of all
• 51:01
  the way back to what I was talking about earlier.
• 51:03
  So let's let's add this layer in what function does old form
• 51:09
  perform in the capital markets if it performs 2 of them, one
• 51:14
  physical collateral, especially central bank collateral or
• 51:17
  national collateral or personal collateral, right?
• 51:20
  That one's easy. It's obvious the whole store
• 51:22
  value argument. Same thing with Bitcoin, right?
• 51:24
  Bitcoin treasuries, all the all the rest of it.
• 51:26
  But the other one is the harder one for for people to wrap their
• 51:29
  heads around. Remember, gold trades not just
• 51:31
  as a future for as a futures contract against physical
• 51:34
  delivery of gold, but also as currency pair.
• 51:40
  So as currency pair XAU versus USD is the so is the other
• 51:45
  function of gold, which is to speculate against and the hedge
• 51:47
  risk, currency risk against, you know, future cash flows or
• 51:51
  current cash flows or whatever, right?
• 51:53
  Some people hedge with, you know, you may, if you do
• 51:56
  business in the United States and the United Kingdom, you may
• 51:58
  hedge with the dollar pound pair, right?
• 52:01
  If you're a long dollars, you may be short the pound.
• 52:03
  You know, maybe you may be shorted in the currency markets,
• 52:06
  but you're long it in other aspects.
• 52:08
  Well, same thing with gold or if you do business in Thailand and
• 52:14
  you're Turkish, you hedge your Turkish lira and your Thai baht
• 52:18
  exposure with British pounds or with U.S. dollars or with
• 52:20
  bitcoins or with gold or whatever.
• 52:26
  The futures markets currently, the paper gold market currently
• 52:30
  conflate those two functions into one market controlled by
• 52:36
  one group of people. Now we separate those and we
• 52:40
  make the physical, we make the gold futures market a physical
• 52:43
  delivery environment and we make the currency speculation and we
• 52:51
  put it in a different vehicle. GLD ain't no physical gold going
• 52:55
  to be issued against, going to be redeemed against GLD going
• 52:58
  forward. And if it is at scale, and if it
• 53:01
  is, it'll only go with the it'll only cross borders if the United
• 53:07
  States government blesses the trade.
• 53:09
  Why? Because JP Morgan, the most
• 53:11
  powerful bank in the United States, the most politically
• 53:15
  connected bank in the United States, and now the most
• 53:18
  politically vulnerable bank in the United States, because that
• 53:21
  cuts both ways, is the sole custodian of gold for for GLD
• 53:27
  and silver for SLV. And you know, my friend Vince
• 53:30
  Lonski and I were on the story four years ago, 3 1/2 years ago,
• 53:33
  something like that. I can't remember when we first
• 53:35
  did this podcast. It was like episode 154 Gold is
• 53:38
  the New Black or whatever I think I called it.
• 53:39
  It's Vince. It's Vince.
• 53:41
  Yeah, I think I remembered that. I'm just just recounting that
• 53:47
  story again. But I'm telling you here it is,
• 53:51
  right? It's happening.
• 53:53
  And so Bitcoin becomes part of that conversation exactly the
• 53:56
  same way. But the only thing you can
• 53:59
  speculate on with Bitcoin ultimately no interest rates and
• 54:04
  currency exchange. Same thing you're doing with
• 54:06
  gold, right? Because every trades gold.
• 54:08
  I mean, bond traders trade gold relative to like though the one
• 54:11
  year treasury rated a three-year treasury rate or whatever.
• 54:14
  Like everybody has a strategy for trading those things that
• 54:17
  way with proper regulations in place, Bitcoin can then, of
• 54:22
  course enter the monetary system that way.
• 54:25
  And more movable than gold. And because the because the
• 54:30
  spreads on trading Bitcoin are tighter and the cost of moving
• 54:35
  bitcoins is less than it is gold, it forms a different
• 54:40
  function than gold, meaning it can be the collateral that moves
• 54:44
  when it needs, right. So that's what I'm, that's the
• 54:49
  way I view the two of them. I think both of them have a very
• 54:52
  important role to play going forward For these reasons.
• 54:56
  It's simple. Got it, got it.
• 54:59
  OK. I, I'm sure the chat's going to
• 55:01
  have to rewatch that one a couple of times to fully unpack
• 55:04
  what you said, Tom. But again, one more quick
• 55:06
  commercial break, guys, and we'll come back.
• 55:08
  I have one question for you. You did mention Bitcoin in the
• 55:11
  conversation a little earlier and potential attacks happening
• 55:15
  on it right now. I want to unpack that a little
• 55:16
  more after the commercial break. So we'll be right back.
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• 57:52
  All right, Tom, so you made the case for Bitcoins role in, you
• 57:58
  know, that it has a, a sufficient role in the markets
• 58:01
  and and in people's portfolios that people should be holding it
• 58:03
  next to gold. But earlier in the show, in the
• 58:06
  very beginning, you did mention the idea of there being a tax on
• 58:10
  Bitcoin. So what do you think is
• 58:12
  currently happening with Bitcoin?
• 58:13
  And is there a coordinated attack on Bitcoin currently as
• 58:17
  we speak? This like demoralization project
• 58:19
  that I know my whole audience is feeling.
• 58:22
  I think all Bitcoiners are feeling it If they if they
• 58:24
  haven't got the mentality of like, well, it's just cheaper.
• 58:26
  I'm gonna just buy some more. So is there a current attack
• 58:30
  going on and and what is your vantage point from this?
• 58:33
  Well, I think there is and I'm not going to sit here and tell
• 58:35
  you that I like, I, I follow like I, you know, I don't have a
• 58:39
  bit Bloomberg criminal any more than anybody else that I don't
• 58:42
  have a crystal ball any more than anybody else's.
• 58:43
  What I do is I have, you know, I have inferences and I have and I
• 58:47
  have and I have intuitions about what I think is going on.
• 58:50
  And it's very clear that in many ways, on a almost day-to-day
• 58:53
  ticket basis that Bitcoin and gold have been trading against
• 58:56
  each other for months now. And then you got to ask yourself
• 58:59
  the question why I and I don't necessarily have a good answer
• 59:02
  for that. I just can tell you that it's
• 59:03
  happening. My, my hoodie is now all covered
• 59:06
  in, in clay for my dog who was in came over to, to keep me
• 59:12
  company during the commercial break.
• 59:15
  And and now she's guarding me like sitting right over there
• 59:18
  because she's awesome because, you know, dogs make the world go
• 59:22
  round more so than Bitcoin ever did or ever will go.
• 59:29
  What I'll say is this clearly that's what's going on.
• 59:32
  And I think the corner should be waiting for.
• 59:33
  So there's some form of attack here, right?
• 59:37
  If you take the the I'll just lay this out and you can, you
• 59:42
  know, salt it the taste. You can tell me I'm full of
• 59:43
  shit. You can you can do with it,
• 59:44
  which you will. OK.
• 59:46
  But if the the US, which I believe is now jacked out of the
• 59:51
  London system, we used to have the triangle trade between GLD
• 59:55
  SLASH, SLV, the LBMA and COMEX suppressing gold and silver
• 59:58
  prices by rehypothecating paper silver and paper gold through
• 1:00:02
  this system by pledging one asset versus the other and using
• 1:00:05
  the same asset to pledge the same, you know, ounce of silver
• 1:00:08
  or ounce of gold over and over and over again, right.
• 1:00:11
  If the United States is jacked out of that system and it's just
• 1:00:14
  the LBMA on its own now. Just GLD is not really a part of
• 1:00:17
  it. There's still players in the
• 1:00:19
  Comex that can play in this game space, and they're going to be
• 1:00:21
  players in GLD and they're going to play in the space as well
• 1:00:24
  because these markets aren't closed to each other.
• 1:00:26
  But if in general, they're not getting helped by the Treasury
• 1:00:29
  Department or by the Fed or by, you know, the big money center,
• 1:00:33
  some of the big money center banks in New York that matter,
• 1:00:37
  notably JP Morgan, then that system is falling apart.
• 1:00:41
  And that's what's allowed for gold and silver to explode.
• 1:00:45
  Now, at the same time, the Trump administration has made it
• 1:00:47
  abundantly clear that it wants to make Bitcoin into a
• 1:00:48
  collateral that for U.S. Treasuries going forward.
• 1:00:53
  We're watching Capitol Hill crowd out over the Clarity Act
• 1:00:55
  because they don't want to pass crypto regulation at all.
• 1:00:59
  They don't want to pass voter ID.
• 1:01:00
  They don't want to pass anything they don't want to pass.
• 1:01:02
  They don't want to. They, they wouldn't even at this
• 1:01:04
  point, there are certain Republican members of Congress
• 1:01:07
  that would vote against, you know, saying nice things about
• 1:01:12
  the US Olympic hockey team because, I don't know, racism or
• 1:01:16
  some recorded shit. It doesn't really fucking matter
• 1:01:19
  at this point. We have gridlock in DC over all
• 1:01:22
  of these very important issues and London is being drained of
• 1:01:27
  all of the silver and gold. Now, Do you think that maybe
• 1:01:30
  over the years that things like CIA and MI 6 and others have
• 1:01:33
  been stockpiling a whole lot of Bitcoin, a whole lot of digital
• 1:01:36
  assets as a means by which to move there, their drug money
• 1:01:40
  around and their their human trafficking money around and
• 1:01:46
  their skin that they've had? You don't think so?
• 1:01:48
  I do. You don't think the cartels have
• 1:01:50
  to use, you know, when, when you should?
• 1:01:52
  You should let me suppose this way.
• 1:01:55
  You should take Jenny Yellen at her at her word when she says,
• 1:01:58
  yeah, Bitcoin is used for money laundering.
• 1:02:01
  She knows why? Because they know that they're
• 1:02:05
  using it to launder money, even if they were just money for the
• 1:02:08
  DNC, for Christ sake, to then, you know, go buy election
• 1:02:11
  somewhere, like of course they were using it for that purpose.
• 1:02:14
  These people don't always lie. They sometimes they just tell
• 1:02:17
  you the truth and they just package their they they tell you
• 1:02:20
  the truth because they're doing it like so why wouldn't they use
• 1:02:27
  any levered position they have in Bitcoin on on exchanges,
• 1:02:32
  Bitcoin exchanges that they control and bomb the price at
• 1:02:37
  certain times of the day? Why wouldn't they do that,
• 1:02:41
  especially if they needed to raise dollars on the trade in
• 1:02:44
  order to try to set losses, paper losses in the gold and
• 1:02:47
  silver futures markets. You think they're not doing
• 1:02:51
  this? Is that area you think you're
• 1:02:53
  breathing like really well, I don't know what fucking planet
• 1:02:57
  you live on, but I know that's exactly what they're doing.
• 1:03:00
  I mean it made the trade may be more complicated than Bitcoin to
• 1:03:03
  dollars to gold. It may be Bitcoin to dollars to
• 1:03:05
  Japanese yen the JG BS to you know to AK-40 sevens on on on
• 1:03:12
  Chinese boats to something to this to that to Ukrainian 18
• 1:03:15
  year old girls and then eventually we get to gold.
• 1:03:18
  But it doesn't matter the structure of the trade is what
• 1:03:21
  the, the, the, the basic framework of the trade is what
• 1:03:24
  matters. And so when will So what should
• 1:03:27
  you be looking for? Ultimately, at the end of the
• 1:03:28
  day, what's the bitcoiners be looking for?
• 1:03:31
  Say they I'm looking for the day we got to move above a
• 1:03:35
  significant technical level on the Bitcoin chart.
• 1:03:37
  And I would say use the weekly chart as your guide here, not
• 1:03:40
  the daily chart, not the four hour chart, not the 15 minute
• 1:03:43
  chart, the weekly chart where you get a, you get a significant
• 1:03:47
  technical breakout to the upside at the same time that gold is
• 1:03:51
  doing something similar or gold isn't backing off.
• 1:03:55
  So that when you see a decouple between gold and Bitcoin in a
• 1:03:59
  technically significant way, that's going to be your signal
• 1:04:03
  that the trade is beginning to break on that.
• 1:04:04
  They run out of money to bomb the market.
• 1:04:07
  They've run out of bitcoins to bomb the markets with.
• 1:04:09
  They have a lot of money. So they can use dollars and they
• 1:04:13
  can use EUR and they can use yen and then they can use they can
• 1:04:16
  use whatever the fuck they want to buy Bitcoin futures to bomb
• 1:04:20
  Bitcoin ain't hard because you don't buy Bitcoin futures with
• 1:04:25
  Bitcoin, last checked. And like, you don't buy gold
• 1:04:28
  futures with Bitcoin with, with gold.
• 1:04:31
  You buy it with dollars or you buy it with pounds or you buy it
• 1:04:34
  with EUR God's God's forbidden. Anybody would buy anything with
• 1:04:37
  EUR. What the worst currency on the
• 1:04:40
  fucking planet. I'd rather own Thai baht than
• 1:04:42
  EUR at this point. Like seriously, at least they're
• 1:04:46
  moving towards political certainty and and not, you know,
• 1:04:49
  and and not, you know, the second coming of the USSR.
• 1:04:52
  So or because I like to put it, you know, years ago when Germany
• 1:04:57
  was actually running things, it was actually the 4th, right?
• 1:04:59
  But that's a different, that's a more inflammatory statement for
• 1:05:02
  a different day. So that's what you should be
• 1:05:05
  looking for. That's what I'm looking for.
• 1:05:07
  That's what I'm telling going to tell my, that's what I tell my
• 1:05:09
  people. I'm like, yeah, just just wait.
• 1:05:11
  Eventually in the land, dude, we may see another frigging massive
• 1:05:15
  watch out to the 40s. I don't know.
• 1:05:18
  But at some point that's going to happen, OK, because in order
• 1:05:22
  to and it's, and here's the other thing, if governments are
• 1:05:26
  moving to taking Bitcoin onto their balance sheets as
• 1:05:31
  collateral assets, do you think the government wants to overpay
• 1:05:34
  for their Bitcoin? No one does.
• 1:05:39
  No one does. But at some point, the same
• 1:05:42
  argument we made on gold and silver for all those years, You
• 1:05:44
  don't think that China and Russia, while they were
• 1:05:46
  accumulating gold and silver, weren't bombing the markets at
• 1:05:50
  key times in order to accumulate gold and silver when they wanted
• 1:05:53
  to? Again, is that area you think
• 1:05:56
  you're breathing? Of course they were.
• 1:06:00
  So the fact that you're seeing gold and silver rise the way
• 1:06:04
  they are is indicative of some fundamental change in the
• 1:06:07
  geopolitical landscape. Bitcoin, they're still fighting.
• 1:06:16
  That means they haven't given up fighting Bitcoin yet.
• 1:06:18
  That's a good sign for Bitcoin. OK, I'm not saying buy
• 1:06:23
  indiscriminately. I'm not saying you know, be
• 1:06:26
  smart, shop that smart, you know, buy dips, sell rallies
• 1:06:31
  like Bitcoin is going to be in a you know, it's going to be in a
• 1:06:34
  sell the rally mood. Buy the dips, sell the rally
• 1:06:36
  mood until it isn't. And you know, the biggest
• 1:06:42
  mistake we all make, and I make this mistake all the time, which
• 1:06:44
  is part of the reason why I do not trade much, folks.
• 1:06:46
  I have to say that I trade a little bit now because I
• 1:06:48
  actually have some retirement accounts that, you know, in
• 1:06:50
  order to, you know, deal with, you know, the fact that I
• 1:06:54
  actually make money for the first one of my fucking life.
• 1:06:56
  Like I have to do a little bit of trading, but I don't do very
• 1:07:01
  much because I know my own enough in all the years that I
• 1:07:03
  tried to be a trader that I tried to trade markets and I
• 1:07:06
  tried to do this stuff that I'm terrible at it.
• 1:07:08
  You think I'm emotional on these podcasts.
• 1:07:10
  Imagine what it's like when I've got a fucking position in a
• 1:07:12
  stock. I can't stop looking at it like
• 1:07:14
  a dog returning to his own vomit for Grey's sake.
• 1:07:17
  It's terrible. And I have to like force myself
• 1:07:20
  self away from the trades. And I know you all know what I'm
• 1:07:24
  talking about. You know how you feel about
• 1:07:26
  that. And it's hard as hell.
• 1:07:27
  And so I tell people I say the same thing all the time.
• 1:07:30
  If I'm susceptible to it, so are you.
• 1:07:32
  And the hard part is just sitting back and going.
• 1:07:35
  Don't come back in too early. So we had a big blow off top and
• 1:07:40
  gold the other, you know, a couple weeks ago, right?
• 1:07:42
  You sold some your gold Sox into the peak and you made some money
• 1:07:46
  on gold Sox into the peak, right?
• 1:07:48
  You should have. And I told him, you know, take
• 1:07:50
  your initial stake off the table.
• 1:07:51
  Do this typical trading strategy.
• 1:07:53
  Be smart again, you know, shop smart, shop that smart.
• 1:07:57
  Be my cash. This is my boomstick and it's
• 1:08:00
  going off and I'm selling some of my fucking position.
• 1:08:03
  And then you wait. Now the first desire is of
• 1:08:06
  always to go right back in on the after the first dip.
• 1:08:10
  Not usually a good idea, but what's interesting about the way
• 1:08:15
  gold and silver are trading is that that first was a doozy.
• 1:08:18
  Not only is it a doozy, but it seems that won't in the case of
• 1:08:22
  gold. If you look at the weekly chart,
• 1:08:24
  it was never reversed. Silver's case, it was reversed
• 1:08:29
  was an epic reversal signal. Epic one bar reversal at the top
• 1:08:33
  and a three bar downturn on the weekly chart.
• 1:08:35
  And this week if it closes above 86 and change that will be a 2
• 1:08:40
  bar reversal against that three bar downtrend.
• 1:08:43
  And that is something I would have never.
• 1:08:47
  I mean I had to give in that 5% probability 3 weeks ago and now
• 1:08:52
  I and now I'm standing here looking at it going let's see
• 1:08:55
  what they do by tomorrow afternoon.
• 1:08:56
  But I can tell you they're going to be gunning for 8333 on 8633
• 1:09:00
  on the cash price into the close into the monthly close.
• 1:09:03
  I can tell you that I've sent my fucking watch by it.
• 1:09:08
  They're going to gun for that price because they need to deny
• 1:09:11
  the market reversal signal because that's how you keep
• 1:09:14
  people demoralized. They did it.
• 1:09:16
  I've I've watched them do it in Bitcoin.
• 1:09:17
  I've watched them do it in oil, watched them do it in gold.
• 1:09:19
  I've watched them do it in every market that matters.
• 1:09:22
  I do this every week for my patrons.
• 1:09:23
  I do this twice a week, every week.
• 1:09:25
  I tell them what's going on. And This is why I know this
• 1:09:28
  stuff is because the way I've structured gold ghosts and guns
• 1:09:32
  is to force me to stay in the moment with these markets on
• 1:09:39
  purpose by looking at the midweek update and then the end
• 1:09:41
  of the week update every week like clockwork for eight years
• 1:09:45
  now. And I've done it this way on
• 1:09:46
  purpose, is to keep me sharp because otherwise, like
• 1:09:50
  everybody else, I get lazy. You know, if I didn't have to do
• 1:09:54
  the market reports every Wednesday and Sunday, I got the
• 1:09:56
  Ventilan. I know it's everything's OK.
• 1:09:58
  We all do it. We're all susceptible to that,
• 1:10:02
  so we can't be that way. This is why discipline is so
• 1:10:04
  important and it's why showing up every freaking day is so
• 1:10:07
  important. And it's why it's probably going
• 1:10:09
  to kill me at a far too early age.
• 1:10:11
  And it's not going to be these things.
• 1:10:12
  I do it. It's going to be this shit.
• 1:10:14
  But you know, I love it. So what am I going to do?
• 1:10:16
  I'm going to complain about my job.
• 1:10:17
  I love my job so. You and I vote this is this is
• 1:10:21
  definitely going to kill me early.
• 1:10:22
  But hey, we do it for the people.
• 1:10:24
  We we do it for ourselves and for the people watching.
• 1:10:28
  So wait to. Do it for my dog, I do it for my
• 1:10:30
  dog and I do it for my daughter. And I do it.
• 1:10:31
  Yeah, yeah, who most definitely want with me.
• 1:10:36
  Wait, so just just to be clear here, you said what everyone
• 1:10:40
  should be watching is when gold and Bitcoin decouple.
• 1:10:44
  By that you mean when gold and Bitcoin run and they decouple
• 1:10:48
  against like the S&P 500 and NASDAQ is?
• 1:10:51
  Is that what you mean by decoupling?
• 1:10:52
  No, I mean, I mean decouple that Bitcoin and gold go up together
• 1:10:56
  or Bitcoin goes up technically without, in a technically
• 1:11:00
  significant way, without a concomitant sell off in gold,
• 1:11:03
  meaning whoever's running the gold versus Bitcoin trade,
• 1:11:06
  however it's struck that trade is running that that trade runs
• 1:11:10
  its course. At some point people run trades.
• 1:11:14
  They the correlation trades happen all the time.
• 1:11:16
  OK, and then they and then they they say that way until they
• 1:11:20
  don't. The guys who make their living.
• 1:11:22
  I, this is something I, I, I've talked with Vince a lot about
• 1:11:25
  because Vince is a trader. He's like, look, if you want to
• 1:11:28
  give a perfect example of a, of a, of a trade that you know,
• 1:11:32
  drives people nuts, silver, you're long silver.
• 1:11:35
  Silver's breaking out. So it's going gang going great
• 1:11:38
  guns. And then the, the, but the
• 1:11:39
  miners aren't moving. Why?
• 1:11:41
  Because the futures traders, the guys who are long silver in the
• 1:11:44
  futures market need to hedge their bet.
• 1:11:46
  So what are they? They hedge with the silver
• 1:11:47
  miners. OK, So they go short silver
• 1:11:50
  miners. OK, Now that trade stays in
• 1:11:54
  place until they can no longer maintain it.
• 1:11:59
  And then at some point they're going to start exiting their
• 1:12:02
  long position in silver itself. Meaning when silver goes up
• 1:12:06
  towards past a certain point and they're going to rotate that
• 1:12:09
  money into the silver miners, which they've been short, and
• 1:12:12
  they're going to cover their shorts as well.
• 1:12:13
  They're going to cover, they're going to cover their long and
• 1:12:15
  they're going to cover their short.
• 1:12:16
  And that covering that short is going to create the long
• 1:12:18
  position and the buying pressure, which is going to move
• 1:12:20
  the prices, which is why silver moves 1st and then the miners
• 1:12:23
  move and then the miners sell off before silver.
• 1:12:26
  And then when the silver begins to sell off, then the miners
• 1:12:28
  begin. I mean, and it's this game,
• 1:12:30
  right? And you know, if you're in it
• 1:12:32
  every day, you see it on the 15 minute, 30 minute, one hour
• 1:12:35
  charts. And if you're a casual observer
• 1:12:39
  that comes at you know it comes at it and doesn't understand
• 1:12:41
  that, then you know it. It seems incomprehensible to
• 1:12:45
  you, but understand that the markets are more complex and the
• 1:12:50
  motivations of the people in the markets are more complex than
• 1:12:53
  you may think. People aren't binary the the
• 1:12:57
  hallmark of a retail investor. You want to know whether you're
• 1:13:00
  a retail investor or not? Are you directional along
• 1:13:03
  something? I'm all in your retail.
• 1:13:09
  You're a muppet that'll be fleeced.
• 1:13:11
  You're the guy in the South Park be going and it's gone.
• 1:13:15
  OK? You're the guy that Wall Street
• 1:13:18
  wants to fleece. The ballroom operators don't
• 1:13:20
  give a shit because the, the, the, the guys who trade for
• 1:13:23
  their for their, for their dinner don't give a shit.
• 1:13:25
  They're like the pool sharks at the 2.
• 1:13:27
  They're like the, the, the poker sharks at the 2 four table at
• 1:13:30
  the Flamingo in Vegas. They're they're making their
• 1:13:32
  fucking rent, dude. They have a completely different
• 1:13:38
  mindset about when they approach that game of poker that maybe
• 1:13:42
  you do as a tourist. I've been at that game.
• 1:13:44
  I've played that game. I know exactly who I'm playing
• 1:13:46
  against and I'm like, I'm going to give them my rent.
• 1:13:48
  I'm going to give them their rent tonight.
• 1:13:51
  My goal is to see how long it takes them to take it from me.
• 1:13:59
  OK, now you want to make money in these markets.
• 1:14:02
  Think like them. If you're not capable of
• 1:14:04
  thinking like them, then don't trade.
• 1:14:07
  Buy dips, sell rallies, have a trading position and leave your
• 1:14:12
  core position alone and be and be agnostic when you're applying
• 1:14:17
  that traded that that position. And if you can't trade Bitcoin
• 1:14:20
  that way without getting emotional, go trade Microsoft.
• 1:14:26
  I tell people, I mean, people have been asking me some
• 1:14:29
  fingers, Tom, how should they trade gold?
• 1:14:31
  You shouldn't. You don't have the you don't
• 1:14:33
  have the skills for it. You don't have the mindset for
• 1:14:35
  it. You want to buy gold, buy gold.
• 1:14:36
  You want to trade to make money, go buy Microsoft.
• 1:14:39
  It's easier. You're only trying to trade the
• 1:14:40
  most politically volatile asset on the planet that all the
• 1:14:46
  important people in the world base everything they do off of.
• 1:14:49
  And you want to fight that with your little, little $5000, you
• 1:14:53
  know, Scottrade account. Really, you're a Fidelity
• 1:14:56
  account. You think you're going to you're
• 1:14:57
  going to stick it to the man. What are you, a fucking idiot?
• 1:15:01
  But you can trade, you know, you can trade.
• 1:15:04
  I don't know, pick a fucking company.
• 1:15:06
  You know, I don't care. You can trade Shell Oil that
• 1:15:08
  way. You know why you don't own?
• 1:15:14
  Because you don't even like Shell.
• 1:15:15
  You hate that company. You should trade a company you
• 1:15:17
  hate if you want to make money because that way you don't care.
• 1:15:23
  Or actually, you should really trade a company or companies
• 1:15:26
  that you have no opinion on whatsoever in a in a sector you
• 1:15:31
  don't know anything about. You know why?
• 1:15:33
  Because you then like be be tempted to go look at
• 1:15:35
  fundamentals or you won't be able to get at at you know, I
• 1:15:39
  know the silver PDE or this. You just would strip all the
• 1:15:43
  emotion out and look at the chart.
• 1:15:45
  Trade the chart. If you trade the chart, chart
• 1:15:49
  tells you everything you need to know.
• 1:15:50
  You don't need to know anything else.
• 1:15:52
  So trade, no emotional investment you're in, and then
• 1:15:55
  use the profits from the trade to go buy the stuff you love or
• 1:15:58
  short the shit you hate. You'll make more money on that
• 1:16:03
  advice loan regardless of what you think of Bitcoin than 90% of
• 1:16:08
  the people in the markets and go you'll do better than heads fund
• 1:16:11
  manager because you've stripped your emotions away from it and
• 1:16:18
  now you're just the boiler room guy with your $5000 Fidelity
• 1:16:21
  account, which you're trying to make into 15.
• 1:16:27
  I love it, Tom. I love it some great tomisms
• 1:16:32
  here on the show. All right last, last final
• 1:16:36
  commercial break and I do want to open it up to Q&A guys.
• 1:16:38
  So we're going to play the commercial drop your questions
• 1:16:41
  in the chat and we'll we'll try to cover some of them before we
• 1:16:44
  wrap up today's show. I do have one question here and
• 1:16:48
  in in the true fashion here. You know I like to get you
• 1:16:51
  animated. So, you know, forewarning, it
• 1:16:54
  might be a triggering Tom moment, but I, I love, I love
• 1:16:57
  when you do this. So I'm, I'm, I'm warning you on
• 1:17:00
  this one. So right after the commercial
• 1:17:01
  break, I'll do my question and chat, give me some questions and
• 1:17:04
  we'll answer them. I want to give a shout out to
• 1:17:07
  our partner Hive Digital Technologies.
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• 1:17:25
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  roaring, accelerating and unison.
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  infrastructure. You can catch the latest buzz at
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  Hive Digital Tech or at Hive digitaltech.com.
• 1:17:49
  All right, Tom, I said, you know, I, I, I, I think I already
• 1:17:53
  know what you're going to answer this, but I love when you do it.
• 1:17:56
  So, Tom, for the critics out there, for people that think
• 1:18:01
  that you are a Trump, you know, maggotard or whatever they try
• 1:18:05
  to frame you at, what is your response to the critics and the
• 1:18:09
  naysayers to your thesis? Go look at my track record.
• 1:18:17
  You ain't got to. You ain't got to trigger me on
• 1:18:18
  this one. Sorry.
• 1:18:19
  My track record's been pretty good.
• 1:18:22
  Like, what are you going to do? Like, I'm sorry, my track
• 1:18:24
  record's been good. It's not been perfect.
• 1:18:26
  No one's perfect, but it's good. It's good enough.
• 1:18:29
  And you should at the very least, engage with it.
• 1:18:31
  And then if you think I'm full of shit, that's great.
• 1:18:33
  I don't care. I mean, you know, again, what am
• 1:18:36
  I going to do? I can't if I if.
• 1:18:37
  If what I've said so far today has not convinced you.
• 1:18:40
  OK, that's nice. Come back in six months, we'll
• 1:18:44
  see what we and so we talked about this earlier, right?
• 1:18:46
  You, you made the point earlier, like the first time I was on,
• 1:18:49
  but like, Oh my God. And then I'm like, oh shit, Tom
• 1:18:51
  was right. I'm not saying again, it's not
• 1:18:54
  about me busting my hand, patting myself in the
• 1:18:56
  background. Give a shit about my freaking
• 1:18:57
  ego and everything else. It's fine.
• 1:18:58
  My ego takes care of itself. What matters is getting the
• 1:19:01
  work, getting the work right and and and trying to be two or
• 1:19:05
  three steps ahead. And when you try to be two or
• 1:19:07
  three steps ahead of where everybody else is, if you're
• 1:19:10
  trying to skate to where the puck's going to go, sometimes
• 1:19:13
  the puck doesn't arrive. Like sometimes the breakout
• 1:19:17
  doesn't work. Make a hockey, you know, hockey
• 1:19:20
  thing in here. Sometimes the breakout doesn't
• 1:19:22
  work. Sometimes that chip and chase
• 1:19:23
  doesn't pan out, doesn't pan into a 211 like, you know what I
• 1:19:27
  mean, What happens? And other times it does.
• 1:19:29
  And you know, when you miss, you miss.
• 1:19:32
  I was wrong on the tariffs. I was really wrong on the SCOTUS
• 1:19:35
  in the tariffs. But, you know, then you regroup
• 1:19:39
  and you look at it and you go, OK, So what did they give you?
• 1:19:41
  What how is Trump going to respond to that?
• 1:19:43
  And then what's he going to do? And then you keep, you keep
• 1:19:46
  going forward. And if anybody demands 100%, you
• 1:19:49
  know, crystal ball, like if I was right about everything all
• 1:19:51
  the time, that would be really dangerous because that would
• 1:19:55
  really imply that I'm like a member of the $7000 club or this
• 1:19:59
  or no, I'm just some dude in the fucking train, you know, like,
• 1:20:02
  what am I doing? Like I'm hanging out in a
• 1:20:04
  freaking, you know, $25 hoodie that I bought off my own website
• 1:20:07
  and hanging here, you know, you know, smoking a $3 Maduro in a
• 1:20:11
  $20,000 freaking pole barn outside of my fucking RV by
• 1:20:15
  trying to build a house. Like that's what I'm doing.
• 1:20:17
  Like that's who I am. And if you think that's you
• 1:20:19
  think that's any more than that, well, you know, sorry, but.
• 1:20:22
  Just trying to like make just trying to make a scratch out of
• 1:20:24
  living best possible folks. And I happen to be pretty good
• 1:20:27
  at what I do. And so therefore I've been
• 1:20:29
  blessed by having people who think that, who understand that
• 1:20:33
  and are willing to, you know, throw some money at me to and
• 1:20:36
  and my partner, Dexter White to, you know, keep doing this and
• 1:20:39
  then hope that, you know, we can help you make sense of the the
• 1:20:42
  crazy freaking world to be like that.
• 1:20:44
  I don't know. I'm just as confused as you are
• 1:20:45
  on some days. Yeah, that, that's the.
• 1:20:48
  Truest statement for everyone. Hey, we, we're trying to all
• 1:20:51
  make sense of what's going on with the information that we're
• 1:20:53
  given. On that note, though, I, you did
• 1:20:56
  touch on the tariffs earlier a little bit, but what, what was
• 1:21:00
  like? What's your thinking on Trump's
• 1:21:01
  response? Of course, the tariffs got
• 1:21:02
  knocked down by the Supreme Court.
• 1:21:04
  He instantly came out and he's like, hey, we're going to do
• 1:21:07
  them anyways. And a lot of people are still
• 1:21:09
  continuing to be like, oh, this is a 5D chess move.
• 1:21:11
  He, you know, Trump did exactly what he wanted to do.
• 1:21:14
  There's obviously the naysayers of like, oh, the tariffs are
• 1:21:17
  cooked. You know, now they're not going
• 1:21:19
  to happen. So what?
• 1:21:20
  What's your view of where we currently are with the tariffs?
• 1:21:24
  If you think that these people didn't take use that statute,
• 1:21:28
  the rating used it and he didn't have a backup plan, even though
• 1:21:33
  they told you they had a backup plan the entire time.
• 1:21:35
  There's no 5D test here, folks. This then told you this, Trump
• 1:21:39
  told you this, they told you this.
• 1:21:42
  They used IEPA, they used the the the emergency regulations to
• 1:21:48
  see if they can get that past the court.
• 1:21:51
  And knowing that court time is a lot slower than political time,
• 1:21:56
  they could use that tempo to their advantage.
• 1:21:58
  This is clearly what they did right?
• 1:22:00
  And he use it to force trade deals and he use it to end wars
• 1:22:03
  and he use it to all that sort at the same time knowing full
• 1:22:06
  well because they can read. By the way, contrary to popular
• 1:22:09
  opinion, Donald Trump does know how to read, right?
• 1:22:13
  Or I mean, if your, if your argument sits based on the idea,
• 1:22:16
  rest on the idea Donald Trump is illiterate, maybe you're not as
• 1:22:22
  wiser and suciant or that as you fucking think you are.
• 1:22:25
  Just saying, I don't know, maybe you, maybe you and your
• 1:22:29
  therapist should have a talk about your Trump Derangement
• 1:22:33
  syndrome or whatever the fuck it is now or your like superiority
• 1:22:37
  complex. Because I think that's really
• 1:22:38
  what Trump Derangement Syndrome is.
• 1:22:40
  It's a, it's just manifestation of, of a, of a, of an
• 1:22:44
  unwarranted superiority complex now, So what did they do?
• 1:22:49
  They read all the other apps, They read all the other
• 1:22:51
  statutes. And they've already told you
• 1:22:52
  this, that they've already done all of the investigative work
• 1:22:56
  necessary by those statues to be able to then replace the IEPA
• 1:23:02
  tariffs with the Section 232 and the 120 twos and everything else
• 1:23:07
  lurking in the background, folks.
• 1:23:09
  And something nobody wants to talk about.
• 1:23:10
  But all of the trading partners other than the EU and the UK,
• 1:23:14
  which are the only two that have come out and said they want to
• 1:23:16
  renegotiate their deals and Trump both told them both to go,
• 1:23:20
  you know, was Section 338 of the Smoot Hawley Tariff Act, which
• 1:23:29
  no one wants to visit. There's a Smoot Hawley Tariff
• 1:23:33
  Act 1930 allows for up to a 50% tariff and Trump doesn't really
• 1:23:37
  have to do much with them. He can do whatever he wants with
• 1:23:41
  them and it would then force the Supreme Court.
• 1:23:47
  Interestingly enough, if he invokes 338 of Smoot Hawley, I
• 1:23:52
  want people to think about this. This actually puts him now into
• 1:23:55
  a, an opportunity to fork the SCOTUS, right?
• 1:24:01
  Because if they want to shoot down Section 338 of Smoot
• 1:24:05
  Hawley, that's going to dismantle a whole lot of the
• 1:24:08
  administrative state in the process and a lot of the
• 1:24:11
  regulatory state that the Congress has put in place
• 1:24:14
  because of the, the, it, it, it will OK, I don't want, I'm not a
• 1:24:18
  constitutional lawyer, right? We've talked to a couple of
• 1:24:20
  people about this and this is one of the one of the the
• 1:24:23
  potentials down the road that if John Robertson, Sotomayor and
• 1:24:27
  those and those jackasses want to play this game and they want
• 1:24:30
  to strike down hallway to get it off the books.
• 1:24:32
  Well, then they're going to then the legal justification that's
• 1:24:34
  going to get rid of a whole lot of other.
• 1:24:37
  Now I'm OK with that, but I'm OK with all of these things.
• 1:24:42
  But I got news for you. Like everything is a trade off
• 1:24:44
  when you have a when you have a judiciary and you have a
• 1:24:47
  legislature that is this functional in in case of the
• 1:24:53
  Senate non functional right now where four GOP senators are
• 1:24:57
  literally saying no to the save act for the dumbest fucking
• 1:25:01
  reasons imaginable in an 8515 issue amongst the American
• 1:25:06
  electorate, voter ID fix the elections.
• 1:25:10
  You know, we have a non functional legislature and to
• 1:25:15
  ask yourself the question, why is that?
• 1:25:19
  And for all the zoomer Waffen and all the, the, the, the money
• 1:25:21
  are Waffen in the audience. Just fucking arrest somebody.
• 1:25:25
  Maybe when you don't have the functional judiciary or a
• 1:25:28
  functional freaking legislature, you can't get anything fucking
• 1:25:31
  done unless you really do want him to turn him into orange
• 1:25:34
  Hitler. Is that what you want?
• 1:25:36
  You want creamsicle Mussolini? We can have creamsicle
• 1:25:38
  miscellany. It's not hard.
• 1:25:42
  You're asking for it every time you scream that on Twitter or in
• 1:25:45
  the comments on one of these podcasts, that's what you're
• 1:25:49
  asking for. You're giving chick bags like
• 1:25:51
  Nick Fuentes and Steve Bannon exactly the fucking talking
• 1:25:54
  point that they want, which is to turn Trump into Lincoln and
• 1:25:58
  turn him into a tie rink. So then they can turn around and
• 1:26:01
  go see we were right all along. No different than what the Putin
• 1:26:08
  for eight years over Ukraine system.
• 1:26:11
  I gone and then they, you know, they, they push and push and
• 1:26:17
  push on Ukraine until Kamala Harris goes to the Munich
• 1:26:20
  Security Conference and says, hey, we should give Ukraine
• 1:26:23
  nuclear weapons. Three days later, Putin's like,
• 1:26:26
  fuck, a whole lot of that moves across the border.
• 1:26:30
  Oh, he's a he's evil. He's like, he's not that damn
• 1:26:33
  faded. Really, really.
• 1:26:38
  That's the world you live in. That's the react you want to be,
• 1:26:41
  You want to be that easily played a reaction monkey, Great.
• 1:26:46
  If that's your height, if that's your goal in life, go for it.
• 1:26:51
  The British give you this shit every day.
• 1:26:54
  The CIA gives you that every day, 10 times a day.
• 1:26:57
  All you got to do is log into Twitter and be it.
• 1:26:59
  And you know, all you got to do is go look at Robert Barnes
• 1:27:02
  fucking Twitter feed. Go with Thomas Massey's Twitter
• 1:27:04
  feed and they're giving it to you.
• 1:27:06
  They're handing it to you, chuckling, collapsed the entire
• 1:27:10
  time. These fucking assholes, because
• 1:27:12
  they hate America and they hate the ID, we can actually declare
• 1:27:15
  independence. These fucking British douchebags
• 1:27:18
  have been who've been trapping our fucking kids and filling us
• 1:27:22
  with fucking opium for the last 150 fucking years and starting
• 1:27:25
  world wars. Like, you want to know what
• 1:27:27
  they're really trying to do in Iran?
• 1:27:29
  They're trying to get the Iranians to touch off a dirty
• 1:27:31
  nuclear bomb so they can start World War Three.
• 1:27:35
  Like I said earlier, it's the SAVE Act versus nuclear bombing.
• 1:27:40
  And hey, you, you complaining about Trump like uttering A
• 1:27:44
  malapropism here or there or listening to a fucking poll from
• 1:27:48
  that Jackass Rich Barrett is giving you, giving you, you're
• 1:27:57
  giving them all the ammunition they need.
• 1:27:59
  Let fucking Trump do what he needs to do.
• 1:28:01
  Shut the fuck up and go vote this fall.
• 1:28:04
  Hold your goddamn nose. Vote for the shitty Republican
• 1:28:06
  that are going to give that the GOPE is going to give you, and
• 1:28:09
  then we'll figure it out and we'll, then we'll fix the rest
• 1:28:11
  of it and fucking post. Because once the midterms are
• 1:28:14
  over, he won't need Congress in the next two goddamned years.
• 1:28:21
  Learn a little politics. It might.
• 1:28:23
  You might learn something. I don't know, like what this is.
• 1:28:26
  This shit's not hard. You mean to get past all this
• 1:28:31
  ready we can get rid of past all of this fucking City of London
• 1:28:35
  media driven faggotry? Do you want to act like men?
• 1:28:41
  Act like men stop whining every goddamn time something doesn't
• 1:28:44
  go your way. I don't think that you can just
• 1:28:46
  stack sass and win. God like tell me how you want to
• 1:28:52
  surrender and bite the pillow without telling me you want to
• 1:28:55
  surrender and bite the pillow. How's that you want that's, is
• 1:29:02
  that what you want for them to end the podcast?
• 1:29:04
  Because I I got, I got a run here.
• 1:29:05
  Yeah, yeah. No, that's the perfect way to
• 1:29:07
  end it. That's the perfect way to end
• 1:29:09
  it. Tom, thank you so much for
• 1:29:10
  coming on again. I really appreciate your time.
• 1:29:12
  I always love your insights. I always love your perspective
• 1:29:15
  and and of course, the, the animation and, and just how
• 1:29:19
  eccentric you are. You're, you're one of my
• 1:29:21
  favorite macro guys. It's a very contrarian view, but
• 1:29:24
  I think for anyone that is still using their brain, you know,
• 1:29:28
  whether you agree with Tom or not, sometimes you should listen
• 1:29:31
  to people that you disagree with because maybe you'll see
• 1:29:34
  something you haven't saw before.
• 1:29:36
  And so Tom, I've always been a fan.
• 1:29:38
  I really appreciate you coming on.
• 1:29:40
  Hopefully we can get you on maybe in a couple of months.
• 1:29:42
  Maybe some things, some crazy things will happen by the next
• 1:29:45
  time you come on with us. But really appreciate it.
• 1:29:47
  Have a good rest of your day. Android, that was that was that
• 1:29:51
  was a blast. Well, we'll do it again soon.
• 1:29:52
  Thanks. All right.
• 1:29:53
  Thank you so much, man. Have a good one.
• 1:29:55
  All right, guys. Well, we did another Tom Luongo
• 1:30:00
  special. I know it's a little different
• 1:30:01
  than our normal show guys, but sometimes, like I said, we bring
• 1:30:06
  on people to maybe at least challenge your views.
• 1:30:11
  Maybe you take something you said, maybe you don't, but we,
• 1:30:14
  we try not to have just the same conversation here every day.
• 1:30:17
  I know we do, but we try not to. Anyways, guys, on that point, we
• 1:30:20
  will be back tomorrow with our normal show.
• 1:30:22
  Of course, we go live Monday through Friday, roughly 12:40 PM
• 1:30:27
  every single day. It's your boy Opti.
• 1:30:29
  This is simply Bitcoin live. We'll catch you tomorrow.
• 1:30:32
  Have a good rest of your day. Today's episode was brought to
• 1:30:35
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:30:39
  mission to enable financial independence.