Latest / The Paul Barron Crypto Show / Congress Unleashes Crap-o Bills!💩Crypto & Economy At Risk🚨
Transcript
- 0:00Speaker 1: We were inundated with a bunch of crap bills coming
- 0:03Speaker 1: in from Congress this week. We'll break it down for you.
- 0:05Speaker 1: You're not going to like this one, guys, but we're
- 0:07Speaker 1: going to do it anyway. And of course I want
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- 0:40Speaker 1: You guys know that we have been talking about this
- 0:42Speaker 1: for quite some time and one video that we did
- 0:44Speaker 1: that I want to highlight on was this one right
- 0:47Speaker 1: here was the bullmarket catalyst. These were the things that
- 0:51Speaker 1: would have to happen for a bullmarket to start. One
- 0:54Speaker 1: of them a key one was Congress needed to play ball.
- 0:58Speaker 1: The problem is is what we are starting to see
- 1:00Speaker 1: now coming out of DC is absolute horror. It's a
- 1:04Speaker 1: horror film. It's like Texas Chainsaw massacre. And that is
- 1:08Speaker 1: the center Republicans set to put the casside Crappo. This
- 1:12Speaker 1: is actually the last name health proposal up for a vote.
- 1:14Speaker 1: This did not end well. I want to go to
- 1:17Speaker 1: this first clip to kind of break this down for you.
- 1:20Speaker 3: Take a look.
- 1:21Speaker 4: You're not going to see a doubling in your premium.
- 1:23Speaker 4: So you're going to see a tripling or quadrupling. People
- 1:25Speaker 4: are going to be spending forty to fifty percent of
- 1:27Speaker 4: their incomes on healthcare. That is insane. Are they prepared
- 1:31Speaker 4: for it? No, of course they're not prepared for it.
- 1:33Speaker 4: It's a disaster.
- 1:34Speaker 5: In letting those subsidies expire acceptable to you?
- 1:37Speaker 3: And shoot America?
- 1:38Speaker 2: What do I want on healthcare? Very simple? Ready? What
- 1:41Speaker 2: I want to do for a simple I want to
- 1:43Speaker 2: give the money to the people.
- 1:44Speaker 4: Yeah, but he's a fraud. Yeah that's what he says.
- 1:47Speaker 4: Now what's the answer.
- 1:48Speaker 2: I'm giving them money. I want to give the money
- 1:51Speaker 2: to the people. Do you know that works really well? Right?
- 1:54Speaker 2: It works like magic.
- 1:56Speaker 4: He's talking about giving people one thousand dollars a two
- 1:58Speaker 4: thousand dollars read reducing premiums by over ten percent. I'll
- 2:02Speaker 4: repeat that our plan will reduce premiums by ten percent.
- 2:07Speaker 4: It's talking about getting people into the so called bronze
- 2:10Speaker 4: plan with huge deductors. You know, if you end up
- 2:12Speaker 4: at a hospital, you're going to spend several hundred thousand dollars.
- 2:15Speaker 4: Rather embarrassingly, Republicans have nothing significant to say about healthcare.
- 2:20Speaker 1: All right. So to the point there, sen a GOP
- 2:22Speaker 1: healthcare plan also fails on party line vote as well.
- 2:27Speaker 1: So this is an issue that where Trump may be
- 2:29Speaker 1: trying to give money back to the people, but it
- 2:31Speaker 1: doesn't work either way. So basically we have a loss
- 2:34Speaker 1: loss right now when it comes to the healthcare side
- 2:37Speaker 1: of things. With all that being said, I've got a
- 2:39Speaker 1: clip here. This is the problem solvers Caucus that says
- 2:42Speaker 1: they're going to come to the rescue with a bipartisan bill.
- 2:44Speaker 1: Listen to what they have to say.
- 2:46Speaker 6: They coach air the problem Solvers Caucus.
- 2:48Speaker 1: Early this week they introduced the Bipartisan Healthcare Insurance Affordability
- 2:52Speaker 1: Active Morning.
- 2:53Speaker 3: Where do you think your colleagues are though on this
- 2:55Speaker 3: issue right now? So where they're adversus. They're willing to
- 3:00Speaker 3: vote our two different questions.
- 3:02Speaker 2: Unfortunately, sometimes.
- 3:07Speaker 7: Have you spoken to the White House about this bill yet?
- 3:12Speaker 3: Yeah, we've kept them in the loop.
- 3:13Speaker 1: You know, they actually issued their own proposal that was
- 3:16Speaker 1: leaked out and then pulled back.
- 3:18Speaker 3: Can you explain what your bill does.
- 3:20Speaker 4: We've got to compromise here, and there's some other compromises
- 3:23Speaker 4: out there.
- 3:23Speaker 5: We're signing on to kinds of different ideas.
- 3:25Speaker 1: Let's something help, gentlemen.
- 3:32Speaker 3: I don't know if we had a little bit of
- 3:34Speaker 3: an audio issue.
- 3:36Speaker 1: These guys are idiots. Yes, they're idiots. They've solved no problems.
- 3:40Speaker 1: And of course this is going to continue to be
- 3:41Speaker 1: an issue in healthcare if this goes through, if we
- 3:44Speaker 1: start to see the acceleration of these subsidies, this is
- 3:47Speaker 1: absolutely going to erect the economy. It's going to wreck
- 3:50Speaker 1: the markets. We are going to see mayhem going forward.
- 3:55Speaker 1: All of this is getting ready to also blend into
- 3:58Speaker 1: something else that's not so good, and that is guess what.
- 4:01Speaker 1: Another government shutdown is looming, possibly by January thirty first. Now,
- 4:06Speaker 1: granted this holds at least where we're at right now,
- 4:09Speaker 1: but still, my gosh, we're getting nearing almost forty percent.
- 4:12Speaker 1: It's spike to forty percent. But the key here is
- 4:15Speaker 1: it's going up on polymarket. Not a good sign. If
- 4:18Speaker 1: we get into another government shutdown. This will only couse
- 4:20Speaker 1: things to get worse, I think in general for the
- 4:22Speaker 1: investing community, but more importantly for the United States because
- 4:26Speaker 1: now we've got the grant coming into it, and whether
- 4:28Speaker 1: or not we end up with even more tariffs before Christmas.
- 4:32Speaker 1: Take a look at this one.
- 4:34Speaker 2: When you think of what I've done, Remember Rare Earth
- 4:37Speaker 2: and the problem with magnets and all of these things
- 4:40Speaker 2: that was going to shut down the whole world. I've
- 4:41Speaker 2: made a fortune for the United States. You're talking about
- 4:44Speaker 2: trillions and trillions of dollars. I've made trillions and trillions
- 4:48Speaker 2: of dollars. Trillions of dollars on that one trip, three
- 4:51Speaker 2: trillion dollars. Eighteen trillion because of tariffs. Eighteen trillion dollars
- 4:56Speaker 2: is coming into a I've made a fortune and spend
- 4:59Speaker 2: very little time. Just remember when we had a problem
- 5:02Speaker 2: with China very recently, I was able to work that out.
- 5:05Speaker 5: So would you rule out reducing tariffs on anymore goods.
- 5:09Speaker 2: On some and in some all increase seriffs, people are
- 5:12Speaker 2: buying their holiday presidents presidence they're planning. Don't be dramatic, No, no,
- 5:18Speaker 2: I wonder what grade you would give A plus A
- 5:21Speaker 2: plus A plus plus plus plus plus.
- 5:24Speaker 4: Well, if God help us, if we ever get to
- 5:26Speaker 4: a B or a C.
- 5:28Speaker 1: With all these trillions and trillions of dollars plus plus
- 5:32Speaker 1: plus economy, why are we not seeing that at the
- 5:36Speaker 1: level for the people right now, whether we see that
- 5:39Speaker 1: in tax rebates, whether we see that in some sort
- 5:41Speaker 1: of stimulus, something that would start to jettison the economy
- 5:45Speaker 1: in the right position. This is not good, guys, This
- 5:47Speaker 1: is not good, and it doesn't seem like it's going
- 5:49Speaker 1: to get any better. Further into this, of course, I
- 5:52Speaker 1: got to go over to the doze issue, because of
- 5:54Speaker 1: course we're dealing with that now. Remember that we were
- 5:57Speaker 1: going to cut a trillion off the deficit. That didn't work.
- 6:00Speaker 1: People believed it, though, people believed it, Yeah, because just
- 6:03Speaker 1: Trump said it was going to happen, but it didn't happen,
- 6:05Speaker 1: and then Elon turned tail and went back to building startlink.
- 6:09Speaker 1: All right, So even though the dough stamlish is off,
- 6:12Speaker 1: maybe there's going to be a crypto stimulus in some
- 6:14Speaker 1: way in the course right here, you've got an issue with,
- 6:18Speaker 1: of course, what's happening in DC. All these banks, guests,
- 6:23Speaker 1: all these banks will meet with Senators to discuss curbing
- 6:27Speaker 1: interest rates and payments by affiliates or stable coin issue
- 6:30Speaker 1: is this is one of the problems that we see
- 6:32Speaker 1: in the Clarity Act right now, where they're trying to
- 6:34Speaker 1: double dip here on the Clarity Act after passing the
- 6:37Speaker 1: Genius Act. Moving forward, I have another clip for you.
- 6:40Speaker 1: This one of course goes into detail around what is
- 6:43Speaker 1: happening in DC right now by eleanor take a look.
- 6:47Speaker 5: A lot of the frustration has come from sort of
- 6:49Speaker 5: the House and also proponents in the crypto industry who
- 6:52Speaker 5: saw the Clarity Act and said this is a good bill.
- 6:54Speaker 3: Let's just pass this bill.
- 6:56Speaker 5: People saying, well, why can't we just get this passed
- 6:58Speaker 5: by the Senate. Why does the Senate have to have
- 7:00Speaker 5: kind of finagle all this, and why can't we just
- 7:02Speaker 5: pass as is? But that's what we've been seeing and
- 7:05Speaker 5: where we stand right now is we're coming down to
- 7:08Speaker 5: the wire. We've got this next couple of days in Congress,
- 7:10Speaker 5: We've got next week in Congress before they all go
- 7:12Speaker 5: home for Christmas.
- 7:13Speaker 3: Break and we're trying to get a markup done.
- 7:16Speaker 5: There could be a markup incentate banking hopefully next Thursday.
- 7:20Speaker 3: They'll leave for Christmas break on Thursday.
- 7:22Speaker 5: But Democrats and Republicans are they still haven't agreed on
- 7:26Speaker 5: the text yet.
- 7:27Speaker 1: All right, so I'm just going to tell you right
- 7:29Speaker 1: now they're checked out.
- 7:29Speaker 2: Guys.
- 7:30Speaker 1: They're not going to agree on it. It's not coming
- 7:33Speaker 1: before Christmas. Not even a markup is coming. And if
- 7:35Speaker 1: they do, it could possibly be this thing called the
- 7:39Speaker 1: Nice version. This is an example of it right here.
- 7:42Speaker 1: By person's familiar with this, it's the nice version and
- 7:46Speaker 1: the nice version when you click this open. I want
- 7:48Speaker 1: to highlight a couple of things. They are going back
- 7:51Speaker 1: in as agreed keywords here, as agreed on bipartisan basis
- 7:57Speaker 1: in the Genius Act, where we would do this, we
- 8:00Speaker 1: would get offering interest or yield by stable coin issues. Basically,
- 8:04Speaker 1: they were trying to negotiate in the Genius Act so
- 8:08Speaker 1: that they could change shit later. This is falling apart
- 8:12Speaker 1: quickly in DC. I'm sure quite a few of the
- 8:15Speaker 1: crypto crew are on their way to DC right now.
- 8:19Speaker 1: Matt Hogan kind of hit it right here on the
- 8:20Speaker 1: head banning stable coins from paying interests like banning cars
- 8:23Speaker 1: from going faster than horses, no doubt, Matt, I agree
- 8:27Speaker 1: with that all right. When you look at this, Dems
- 8:30Speaker 1: think they can find another way to permit yield. If
- 8:32Speaker 1: you look down into the articles here, it says Democrats
- 8:35Speaker 1: believe the Congress can find solutions that issue to protect
- 8:38Speaker 1: banking systems still permitting rewards and incentives. The Working Group
- 8:41Speaker 1: believes also closing loopholes is a bipartisan issue, another problem
- 8:46Speaker 1: with a wide coalition of bankers that are right here
- 8:49Speaker 1: at the front of this. So basically what they're talking
- 8:52Speaker 1: about is figuring out how to give you bonuses in rewards,
- 8:56Speaker 1: which basically boils down to maybe posters, I guess, or
- 9:01Speaker 1: I don't know what they would give you. But that
- 9:03Speaker 1: point is is they're going to be taking away or
- 9:05Speaker 1: trying to take away yield out there. And this isn't
- 9:07Speaker 1: just happening away from DC. Now You've got Coinbase over
- 9:11Speaker 1: here doing this stuff where you don't get a yield
- 9:13Speaker 1: now unless you pay for Coinbase one. Come on, Coinbase,
- 9:16Speaker 1: let's get this together. Drop this right now. I think
- 9:19Speaker 1: you just have to do it. Just get it out
- 9:21Speaker 1: of here. But right now you've got to pay sixty
- 9:23Speaker 1: bucks to get your three and a half percent apy,
- 9:26Speaker 1: So that's a banking tactic overall. Remember Robin Hood's getting
- 9:30Speaker 1: ready to have lost their banking app. I don't know
- 9:32Speaker 1: if that's going to happen. I got the note this
- 9:34Speaker 1: morning from Robinhood saying, yes, it's going to happen. Vladd
- 9:37Speaker 1: needs to get this going. Hopefully he'll be paying yields
- 9:40Speaker 1: without the additional fees over there. Trump of course, is
- 9:44Speaker 1: going to rain tax refunds on America, record baking breaking
- 9:49Speaker 1: tax refunds hitting Americans in twenty six, saying around one thousand,
- 9:53Speaker 1: two thousand per household. I don't know, do you think
- 9:55Speaker 1: this will even happen? Or is it another doze stimulus
- 9:58Speaker 1: you know, facade, or or is it you know, is
- 10:01Speaker 1: it one of those situations right now? Where will this
- 10:03Speaker 1: even affect the market in general? I don't know. I
- 10:07Speaker 1: don't know if I can believe this administration. I don't
- 10:08Speaker 1: know if I can believe anything that's going on in
- 10:10Speaker 1: DC right now, with the amount of crapo bills that
- 10:13Speaker 1: are funneling through DC right now. At the end of
- 10:16Speaker 1: the year. It's getting ridiculous. One big beautiful sports bill.
- 10:19Speaker 1: It doesn't end, guys, it doesn't end. Now you've got
- 10:22Speaker 1: one coming after the gamblers. I mean, let's go.
- 10:25Speaker 3: A new tax rule in President Trump's big beautiful bill
- 10:28Speaker 3: is getting attention from gamblers.
- 10:30Speaker 7: Under the law, gamblers will only be able to deduct
- 10:33Speaker 7: ninety percent of their losses.
- 10:34Speaker 2: It's probably going to affect a handful of betters.
- 10:38Speaker 1: And I got a lot of people up in arms.
- 10:41Speaker 8: We had a million responses. Now I've never had a
- 10:44Speaker 8: million responses. I've gone viral. So many people have called
- 10:48Speaker 8: and text and tweeted about it being a bad idea
- 10:52Speaker 8: that they're getting on board my bill, the Fair Bed
- 10:54Speaker 8: Act to try to just take that out of the provision.
- 10:57Speaker 8: So then we're looking everywhere they can find little pots
- 11:00Speaker 8: some money to have offset their tax breaks for the wealthy.
- 11:03Speaker 8: And they estimated that this would bring in a billion dollars.
- 11:08Speaker 7: People are gonna go back up to those offshore sites.
- 11:11Speaker 8: Maybe, well, that's right, and that didn't help the community.
- 11:14Speaker 6: You're gonna see revenues drop, You're gonna see tourism drop,
- 11:16Speaker 6: You're gonna see jobs lost. If you want taxes and
- 11:19Speaker 6: money we made. That's fine. But if you want taxes
- 11:21Speaker 6: on money we didn't. I have a serious problem with that,
- 11:23Speaker 6: and it's wrong to do that to our community.
- 11:25Speaker 1: All right, So, as you can see, this is continuing
- 11:28Speaker 1: to dump on the market. The big beautiful Bill is
- 11:31Speaker 1: figuring out ways to pull in more from so many
- 11:34Speaker 1: different other places. Here's Trump on trying to remove gambling taxes.
- 11:38Speaker 1: Take a look you consider no tax on gambling, no
- 11:43Speaker 1: tax in gambling.
- 11:44Speaker 8: I don't know that I'm gonna be to figure about that.
- 11:47Speaker 3: I think it's better to go up and maybe take
- 11:50Speaker 3: our seats. Is a pretty m play by everybody.
- 11:53Speaker 8: I better get out of here.
- 11:57Speaker 1: This is a clown show. I don't think relief is
- 12:00Speaker 1: for the gambling markets. This is a problem because it
- 12:02Speaker 1: starts to affect some of these growing and burgeoning industries.
- 12:07Speaker 1: And I think, yes, it's going to push a lot
- 12:08Speaker 1: of this stuff back offshore, which is exactly the opposite
- 12:11Speaker 1: of what we should be doing. Now, you've got to
- 12:14Speaker 1: consider what's happening with the Clarity Act. It looks like
- 12:17Speaker 1: we are in destruction mode right now, with the bankers
- 12:19Speaker 1: winning on the banker's lobby versus crypto. I don't know
- 12:22Speaker 1: what happened. Did the crypto lobby go to sleep here
- 12:24Speaker 1: or what. But the issue is going to boil down
- 12:27Speaker 1: to whether or not Trump will sign the bill. Take
- 12:30Speaker 1: a look.
- 12:31Speaker 5: Obviously this bill has to be signed by President Trump
- 12:33Speaker 5: at the end of the day, right, So when you
- 12:34Speaker 5: have the ethics language in there that the Democrats want
- 12:37Speaker 5: to get through, President Trump's not going to sign something
- 12:40Speaker 5: that says I can no longer sell my mean coin
- 12:42Speaker 5: or I can no longer get world liberty things done
- 12:45Speaker 5: that my sons want to take part.
- 12:46Speaker 3: And it's very complicated, guys.
- 12:47Speaker 1: All right, so one more clip here, This is why
- 12:49Speaker 1: Trump might actually change his mind on the gambling text.
- 12:52Speaker 1: Take a look. Fuck, I'm gonna go vomit in my coffee.
- 13:18Speaker 1: I'll let Johnny respond to that one. I'll just let
- 13:22Speaker 1: you guys read that, so I don't have to. We'll
- 13:26Speaker 1: go on moving on. So well, let's don't stop the
- 13:30Speaker 1: pain here. Let's go over to Ken Griffin. He of
- 13:32Speaker 1: course synodel security jumping through with a recommendation. The recommendation is, hey,
- 13:38Speaker 1: let's identify intermediaries that would be involved in trading of
- 13:40Speaker 1: tokenis US equities, including via so called decentralized trading protocols
- 13:46Speaker 1: and let's lock them down, mister sec. So again, more
- 13:49Speaker 1: trouble coming in from the guys that want to hold
- 13:52Speaker 1: on to being able to control the financial system out there,
- 13:55Speaker 1: and we know who those are. Here was Hayden Adams
- 13:59Speaker 1: kind of hitting on this US this of course being
- 14:01Speaker 1: UNISWAP and he gets into it around Ken Griffin nerve
- 14:04Speaker 1: of One of their arguments is to be that there
- 14:06Speaker 1: is no way for DeFi protocols to provide fair access.
- 14:09Speaker 1: That's crazy, makes sense since the king of shady TRADFI
- 14:13Speaker 1: markets that's of course who he's talking about, doesn't like
- 14:17Speaker 1: open source peer to peer tech that can lower the
- 14:19Speaker 1: barrier to liquidity creation. These are the things that DeFi
- 14:23Speaker 1: does and this is exactly what the traditional finance companies
- 14:26Speaker 1: want to take away from DeFi because it does solve
- 14:29Speaker 1: problems out there, and this is a big issue overall.
- 14:32Speaker 1: Senator Booker comes in and says, hey, wait a minute,
- 14:34Speaker 1: all this should be a deal breaker, all of this.
- 14:38Speaker 1: We can't criminalize people who write code for crying out like,
- 14:41Speaker 1: thank goodness for that?
- 14:43Speaker 7: All right.
- 14:44Speaker 1: To conclude, this is the most hated bill in America,
- 14:48Speaker 1: and that is this defense spending bill, and they just
- 14:51Speaker 1: passed it overwhelmingly to put another nine hundred billion. You know,
- 14:56Speaker 1: they didn't want to put that out an extra hundred
- 14:57Speaker 1: billion on it because it is a trillion dollar defense
- 14:59Speaker 1: bill going into the Pentagon and other agencies. So remember
- 15:05Speaker 1: we were promised that there would be no CBDC language
- 15:09Speaker 1: in these bills. Well, that promise has now been broken.
- 15:12Speaker 1: A CBDC, of course, you guys know, it's the ultimate
- 15:14Speaker 1: tool for surveillance out of governments, and we had a
- 15:17Speaker 1: demand border better. I think the issue is is that
- 15:20Speaker 1: the fight is now on with a must pass bill
- 15:23Speaker 1: to ensure that CBDCs never see the light of day.
- 15:27Speaker 1: This is a big, big deal that right now is
- 15:29Speaker 1: currently on the chopping block there in DC. One last
- 15:33Speaker 1: thing this, of course, is Howard Lutnick saying, hey, don't
- 15:36Speaker 1: worry about it. We good take a look.
- 15:38Speaker 7: There's no fears, there's nothing happening that are horrible. There
- 15:42Speaker 7: is no inflation in the country. You know, things are
- 15:45Speaker 7: coming down. These people are too afraid. Jay Powell is
- 15:48Speaker 7: too late, but maybe he should be called too afraid instead.
- 15:52Speaker 7: We're always leaning back as if something bad is happening,
- 15:55Speaker 7: we are doing great. Nothing bad is happening. Greatness up, Sember, Tom.
- 16:02Speaker 1: I love you, but I think we are down for
- 16:04Speaker 1: Dumpsimber is ahead of us right now with all this
- 16:08Speaker 1: mess that's going on in DC. Listen, guys, we're gonna
- 16:10Speaker 1: cover this as much as we can before I have
- 16:13Speaker 1: to go vomit. Make sure and subscribe.
- 16:15Speaker 8: Do that.
- 16:16Speaker 1: Follow me on X at Paul Baron. We'll catch you
- 16:19Speaker 1: next time right here on The Paul Baron Show