Latest / The Paul Barron Crypto Show / Crypto Market Crash Update📉🔥

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Crypto Market Crash Update📉🔥 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: A crypto crash is underway today. Let's break down everything
• 0:03
  Speaker 1: and that's happening to cause this. You don't want to
• 0:05
  Speaker 1: miss it. Let's just jump right in. I want to
• 0:07
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• 0:11
  Speaker 1: been there. Expenses pop up right when the market's starting
• 0:14
  Speaker 1: to heat up. It's not the right time to sell.
• 0:17
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• 0:19
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• 0:23
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• 0:27
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• 0:35
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• 0:38
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• 0:42
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• 0:51
  Speaker 1: long in the market while accessing your portfolio's value. Today,
• 0:55
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• 0:59
  Speaker 1: in just a few taps. I want to lead off
• 1:01
  Speaker 1: with a clip first, because there are two camps right
• 1:05
  Speaker 1: now in the market. One is pro economy. One is
• 1:08
  Speaker 1: the economy is being killed. Take a look at this.
• 1:11
  Speaker 2: One booming ism manufacturing number out today, fifty four point zero.
• 1:16
  Speaker 2: Nobody wants paying attention to that. Everybody wants to be
• 1:19
  Speaker 2: barrashed on the economy. They're wrong. Jobs are up, every
• 1:22
  Speaker 2: darn thing was up. The economy is much healthier than
• 1:25
  Speaker 2: people think. Everybody's pessimistic. Everybody's pessimistic. Business Arthur, Business has
• 1:30
  Speaker 2: never been better. Jobs are booming, business, capex, profits, productivity, Arthur.
• 1:36
  Speaker 2: What the heck is wrong with people? Why don't think
• 1:38
  Speaker 2: get it?
• 1:38
  Speaker 3: Stock Mark is doing well. I think the whole economy
• 1:41
  Speaker 3: is just poised for takeoff, Larry. The world looks really
• 1:44
  Speaker 3: poised to me. And I think the price of oil
• 1:45
  Speaker 3: is going to fall by a lot. I couldn't be
• 1:48
  Speaker 3: more excited than I am.
• 1:49
  Speaker 2: Yes, it's very very positive. Yes, the rampant pessimism, but
• 1:53
  Speaker 2: the numbers don't bear that out. Business is in very good,
• 2:00
  Speaker 2: profitable shape with lower taxes and deregulation. But look at
• 2:03
  Speaker 2: the numbers, Steve More, That's the point. People don't take
• 2:07
  Speaker 2: the time to look at the numbers.
• 2:08
  Speaker 4: Yeah, well we're blowing away the rest of the world too, Larry,
• 2:11
  Speaker 4: We're growing faster than everybody else. We are winning because
• 2:14
  Speaker 4: of trumpadomis no question about it. I mean, we've never
• 2:16
  Speaker 4: seen such an investment boom in this country maybe ever.
• 2:19
  Speaker 4: So even this affordability crisis, he's kind of overrated. People
• 2:23
  Speaker 4: have more disposable income today than ever one hundred percent.
• 2:27
  Speaker 3: Right.
• 2:27
  Speaker 4: I feel a little bit of pressure though for Kevin Warts.
• 2:30
  Speaker 4: He's going to have his hands full because these numbers
• 2:32
  Speaker 4: are just amazing.
• 2:33
  Speaker 2: Well that's good, you know what good? It is good.
• 2:36
  Speaker 3: It is good.
• 2:37
  Speaker 2: We're running out of time.
• 2:39
  Speaker 1: Okay, so what are these guys watching. Yes, of course, yes,
• 2:43
  Speaker 1: we're at all time high. But if you look at
• 2:45
  Speaker 1: this S and P. Five hundred, it is really narrowed
• 2:48
  Speaker 1: in on just a handful of stocks that's driving this market.
• 2:51
  Speaker 1: Most of this, of course, has been on the AI
• 2:54
  Speaker 1: side of things. You look at the risk asset side,
• 2:57
  Speaker 1: it's a completely different story. And I think as we
• 3:00
  Speaker 1: start to see energy playing into this, the real concern
• 3:03
  Speaker 1: is where does this play out with what's going on
• 3:06
  Speaker 1: in Iran. Now let's go to the other side of
• 3:09
  Speaker 1: the argument. This clip will get into a little bit
• 3:11
  Speaker 1: more about are we really close to a recession?
• 3:14
  Speaker 5: Take a look, so, Mark, how soon is soon? When
• 3:18
  Speaker 5: do we cross the line?
• 3:20
  Speaker 6: Well, Kayley, how about today? That would be nice. You know,
• 3:23
  Speaker 6: in the next few days, a couple three weeks. If
• 3:26
  Speaker 6: it goes on much longer than that, I suspect that
• 3:29
  Speaker 6: we'll see much higher oil prices than our current today.
• 3:33
  Speaker 6: There's we're drawing down inventory and the strategic patrolum reserve
• 3:37
  Speaker 6: is starting to fade, and that would be I think
• 3:40
  Speaker 6: enough to push the already tenuous economy into a recession.
• 3:44
  Speaker 6: So it's got to happen here very quickly, in the
• 3:47
  Speaker 6: next day, two days, three days, next week, or so
• 3:50
  Speaker 6: beyond that, I think we got a real problem. You know,
• 3:53
  Speaker 6: right now we're closer to today, we're down closer to
• 3:57
  Speaker 6: ninety ninety five bucks a barrow. But if we're at
• 3:58
  Speaker 6: one twenty five and we stay there for two three months,
• 4:02
  Speaker 6: that would be pretty consistent. I think by did the
• 4:04
  Speaker 6: arithmetic correct about five dollars scaln maybe a little bit over,
• 4:08
  Speaker 6: and that would at that point be enough to push
• 4:10
  Speaker 6: the fragile commune de recissions.
• 4:12
  Speaker 5: What's the thad to do if this is once again
• 4:14
  Speaker 5: a supply driven inflation problem that could weigh on growth.
• 4:18
  Speaker 6: Yeah, good point, k I don't think anyone comes to
• 4:20
  Speaker 6: the rescue.
• 4:21
  Speaker 1: Here, all right, So what they're getting at really is
• 4:24
  Speaker 1: all energy based. If you look at what Exxon is
• 4:27
  Speaker 1: now warning that oil prices could go as high as
• 4:29
  Speaker 1: one hundred and sixty a barrel in the coming weeks.
• 4:32
  Speaker 1: That's if reserves are depleted.
• 4:33
  Speaker 3: Now.
• 4:34
  Speaker 1: I don't know if that is the case, but you know,
• 4:37
  Speaker 1: the interesting point is is that we're going to find
• 4:39
  Speaker 1: out very soon. If Trump doesn't come to an agreement
• 4:42
  Speaker 1: at some point where the straighthor moves is freed and
• 4:45
  Speaker 1: we start to see something aligned in the Middle East,
• 4:48
  Speaker 1: do we see impact here in the US, maybe for
• 4:51
  Speaker 1: the first time around energy. That's the question mark, because
• 4:55
  Speaker 1: if that does get heavier, especially in the summer months,
• 4:58
  Speaker 1: this could put the US in a very precarious situation
• 5:01
  Speaker 1: going forward. Scott Besson, though, is kind of going the
• 5:06
  Speaker 1: other direction. This is the ping pong match that we're
• 5:09
  Speaker 1: playing with right now, both from analysts but also from
• 5:13
  Speaker 1: the bureaucracy inside our government. Take a look at what
• 5:16
  Speaker 1: Besson said.
• 5:17
  Speaker 7: I believe that we will get through this challenging period
• 5:22
  Speaker 7: now on higher prices on the other side of this,
• 5:26
  Speaker 7: I've said publicly that I think we'll be back to
• 5:29
  Speaker 7: substantial dissemplation. But most importantly, I think we've got the
• 5:34
  Speaker 7: worsh FED now. And look at the economy that it
• 5:38
  Speaker 7: is challenging now, but unemployment is still low, tax refunds
• 5:45
  Speaker 7: were high, and consumer spending is still quite high. So
• 5:50
  Speaker 7: in my private business over the years, I always looked
• 5:53
  Speaker 7: at what we're consumers doing, not what they were saying.
• 5:56
  Speaker 5: We've got the worsh FED now. Mark Zandy is what
• 5:59
  Speaker 5: he said, Do you believe the warsh Fed will really
• 6:01
  Speaker 5: treat this potential situation in differently than a power fed would?
• 6:05
  Speaker 2: Uh?
• 6:05
  Speaker 8: No.
• 6:06
  Speaker 6: I mean potentially a chair Walsh would vote for a
• 6:10
  Speaker 6: cut in that kind of scenario where things are going
• 6:13
  Speaker 6: south and the economy is going into recession. But I
• 6:15
  Speaker 6: doubt the rest of the Federal Reserve, the other folks
• 6:18
  Speaker 6: that are making the decision would follow suit.
• 6:21
  Speaker 1: All right, So not a definitely not a rate cut,
• 6:24
  Speaker 1: I think is where people are standing right now. The
• 6:27
  Speaker 1: real question is do we see a rate hike. One
• 6:28
  Speaker 1: thing that Besson did say, and this is the thing
• 6:31
  Speaker 1: that kind of confuses me, is the retail side of it.
• 6:35
  Speaker 1: He is right in the sense that retail has not
• 6:38
  Speaker 1: necessarily shown any impetus to really slow down. And I
• 6:43
  Speaker 1: think that if retail continues to do spending at the
• 6:47
  Speaker 1: rate in which they are, even with rising energy prices,
• 6:50
  Speaker 1: this is the thing that is a little conflated here,
• 6:52
  Speaker 1: I think, in how the market may play out. The
• 6:55
  Speaker 1: other thing that plays into this is inflation. Is this
• 6:57
  Speaker 1: a long term thing. Do we continue to see press
• 7:00
  Speaker 1: showing this because of energy or is this all related
• 7:03
  Speaker 1: to what's going on strictly in Iran, which I believe
• 7:05
  Speaker 1: it is. The real question is is that how long
• 7:08
  Speaker 1: does the remember supply chain shock starts to last as
• 7:12
  Speaker 1: it trickles down after the event is already over. That's
• 7:14
  Speaker 1: the more I think the bigger concern. It's exactly what
• 7:17
  Speaker 1: happened during the pandemic. It was the same kind of
• 7:19
  Speaker 1: supply chain shocks that we saw rising prices. So that
• 7:23
  Speaker 1: is still the issue. Right now. The SNP erases losses
• 7:27
  Speaker 1: and surges now to its highest level on record, sixty
• 7:30
  Speaker 1: nine trillion. Man sixty nine trillion. We are on the
• 7:34
  Speaker 1: and again this goes back into a very few number
• 7:38
  Speaker 1: of stocks that are driving this. Obviously we will see
• 7:41
  Speaker 1: the anthropic IPO coming soon. Likelihood is SpaceX right on
• 7:45
  Speaker 1: its heels, then you have chat or excuse me, open AI.
• 7:48
  Speaker 1: That of course starts to put pressure into the market.
• 7:50
  Speaker 1: I just wonder how much liquidity is actually there for
• 7:53
  Speaker 1: some of this stock market ripping off higher after a
• 7:56
  Speaker 1: new high. Yet more than half of the S and
• 7:58
  Speaker 1: P five hundred stocks are trading low. They're one hundred
• 8:01
  Speaker 1: day moving average. So that's my point. Most of the
• 8:04
  Speaker 1: socks that we're dealing with are below there one hundred
• 8:08
  Speaker 1: moving day average. So think about that right now. What
• 8:10
  Speaker 1: are you trading? Are you trading primarily at the top
• 8:13
  Speaker 1: of this, are you foam owing in or are you
• 8:16
  Speaker 1: buying dips in the crypto market? As we continue to
• 8:19
  Speaker 1: see these markets adjust down, including ethereum, XRP, Bitcoin, let
• 8:24
  Speaker 1: me know down below other things I want to hit
• 8:26
  Speaker 1: on right here, because bitcoin just broke below sixty nine.
• 8:29
  Speaker 1: It's now thirteen thousand down in the last nineteen days.
• 8:31
  Speaker 1: That's wiping out two hundred and twenty billion from its
• 8:34
  Speaker 1: market cap, and wallets around the world seven hundred and
• 8:38
  Speaker 1: thirty million worth of positions have been liquidated just in
• 8:42
  Speaker 1: the last twenty four hours, so Where does this bleeding
• 8:44
  Speaker 1: stop is the real question. Bitcoin, of course is being
• 8:48
  Speaker 1: challenged here by Peter Schiff simply saying Bitcoin continues to
• 8:51
  Speaker 1: melt down now breaking the sixty seven pressure will build
• 8:55
  Speaker 1: into Trump's bitcoin donors. Obviously, he's hitting on Trump saying
• 8:58
  Speaker 1: the only way out is through the strategic That is
• 9:01
  Speaker 1: going to be a question Republicans now must join the
• 9:03
  Speaker 1: Democrats in opposition to what's happening right now. I think
• 9:07
  Speaker 1: the real challenge that we were dealing with around bitcoin
• 9:12
  Speaker 1: is the issue of the liquidity drain that has been
• 9:15
  Speaker 1: coming out into the S and P. I do think
• 9:17
  Speaker 1: most market makers are in that when you talk about
• 9:20
  Speaker 1: new capital coming in, that's typically what drives risk markets
• 9:24
  Speaker 1: is new capital coming in, and that capital has of
• 9:26
  Speaker 1: course been displaced into what we see in the stock market.
• 9:30
  Speaker 1: Bitcoin ETFs also hit their lowest and longest selling streak
• 9:34
  Speaker 1: on record. Now, what this has recorded in the past
• 9:37
  Speaker 1: is most of the time when you see that kind
• 9:39
  Speaker 1: of movement, right there a lot of down days on
• 9:42
  Speaker 1: the ets for bitcoin, is it marks a bottom? So
• 9:46
  Speaker 1: that's the question. Is sixty seven sixty five the bottom
• 9:50
  Speaker 1: for bitcoin currently or do we see it slip under
• 9:54
  Speaker 1: a sixty K mark. We are now in the sixties.
• 9:56
  Speaker 1: How long does that last through June? Heavan was talking
• 9:59
  Speaker 1: about the when he was on last week. He sees
• 10:02
  Speaker 1: maybe a fifty three k down the road. The real
• 10:05
  Speaker 1: question is what would that do to fear and greed? Well,
• 10:07
  Speaker 1: right now, fear is holding and greed is holding it
• 10:09
  Speaker 1: twenty seven when it comes to crypto. And when you
• 10:12
  Speaker 1: look at that, remember, guys, we have been in the
• 10:15
  Speaker 1: depths of fear and greed in the past. Back in February,
• 10:20
  Speaker 1: that is the last time we started to see real
• 10:22
  Speaker 1: devastating action. And I think are we headed for that
• 10:26
  Speaker 1: right now? Is the question. Other things you got to consider,
• 10:29
  Speaker 1: is this right here, eighty eight bill erased from the
• 10:32
  Speaker 1: total crypto market today? Have you, guys ever seen a
• 10:35
  Speaker 1: red chart like that? I don't know that we've ever
• 10:39
  Speaker 1: seen one quite like that outside of ten ten. Malgox, though,
• 10:44
  Speaker 1: transferred another seven and thirty one mil and bitcoin to
• 10:46
  Speaker 1: a new wallet. So here we go. Bud's coming back in.
• 10:50
  Speaker 1: I've got a clip here and I want to go
• 10:51
  Speaker 1: into two things, And one, of course, is the issue
• 10:56
  Speaker 1: of when Sailor Strategy made their sale. Now they've done
• 11:01
  Speaker 1: this most recent one wasn't that much. And there's a
• 11:05
  Speaker 1: couple of people that I think had interesting takes on this,
• 11:08
  Speaker 1: because sentiment, I think is what that action drives the most.
• 11:13
  Speaker 1: Listen to what threat guy had to say.
• 11:15
  Speaker 9: It feels like the worst of both worlds, where it's
• 11:18
  Speaker 9: like Sailor sells and so in one hand you rip
• 11:22
  Speaker 9: that band aid off, but his cell is so insignificant
• 11:27
  Speaker 9: that you don't really get to see.
• 11:29
  Speaker 10: If the mark, like you don't really get to test
• 11:31
  Speaker 10: liquidity in the market, like he didn't sell a billion
• 11:33
  Speaker 10: dollars with a BTC, and so you don't really know
• 11:36
  Speaker 10: what's going to happen if he does sell a massive amount.
• 11:38
  Speaker 10: He he sold nothing, He sold like a he sold
• 11:42
  Speaker 10: a complete rounding error worth a bitcoin. But we're dumping
• 11:45
  Speaker 10: because people are like, oh my god, Saylor was selling,
• 11:47
  Speaker 10: And so you still have the overhang of what happens
• 11:52
  Speaker 10: when he sells a billion dollars and you don't actually
• 11:55
  Speaker 10: know nothing was accomplished. But then what happens when he
• 11:58
  Speaker 10: really sells I don't know, Like I feel like we
• 11:59
  Speaker 10: don't know what happens when he really sells Omega nuke.
• 12:02
  Speaker 1: Yeah, all right, so you can kind of consider what
• 12:05
  Speaker 1: thread guy is saying there in the sense of what
• 12:07
  Speaker 1: would happen if Saylor really got crazy on a drop
• 12:12
  Speaker 1: in terms of selling bitcoin? Valshness hits on it right here, says,
• 12:16
  Speaker 1: one hand, they only selled point zero zero four percent
• 12:19
  Speaker 1: literally of their bitcoin, so it's pretty histeronic framing, say
• 12:23
  Speaker 1: a U turn and I would agree. I don't know
• 12:25
  Speaker 1: that that was nearest case. And you can't really assume
• 12:27
  Speaker 1: that it was a test because it's just too small, right.
• 12:30
  Speaker 1: So was it just a situation where they needed a
• 12:33
  Speaker 1: liquidity and for whatever reason, needed it in a bitcoin
• 12:36
  Speaker 1: wallet to where they needed to move something around. I
• 12:39
  Speaker 1: don't know. But what happens if he were to actually
• 12:42
  Speaker 1: sell a quarter of a billion in bitcoin? What would
• 12:46
  Speaker 1: the market do? Is that the mega nuke that could
• 12:49
  Speaker 1: potentially take bitcoin down dramatically. Let me know what you
• 12:52
  Speaker 1: guys think is are we in for a very unusual summer,
• 12:56
  Speaker 1: especially with strategy at the Helm? Speaking of strategy at
• 13:00
  Speaker 1: the Helm, let me go to this right here, and
• 13:02
  Speaker 1: that is the final week to vote for their twice
• 13:05
  Speaker 1: weekly dividends. This is the make or break moment I
• 13:08
  Speaker 1: think for Stretch, which is the kind of winner take
• 13:12
  Speaker 1: all asset I think for master right now, and this
• 13:16
  Speaker 1: is going to happen. If you haven't voted already and
• 13:18
  Speaker 1: you want to get you know, twice monthly dividends, this
• 13:21
  Speaker 1: is the thing to do because River Stretch has only
• 13:23
  Speaker 1: been issuing dividends once monthly. If this goes through twice monthly,
• 13:27
  Speaker 1: I'll give you some additional trade volume. I think we
• 13:30
  Speaker 1: might see some more action as well on Bitcoin because
• 13:33
  Speaker 1: traders of course going in and out of Bitcoin on
• 13:35
  Speaker 1: top of this, Looking at Stretch in the market right
• 13:38
  Speaker 1: now with that news, and I think also with bitcoin
• 13:40
  Speaker 1: dropping is we've seen it dip down to ninety five,
• 13:44
  Speaker 1: but it's currently holding at ninety seven. We have seen
• 13:47
  Speaker 1: it close out at ninety three. So is that a
• 13:50
  Speaker 1: possibility to get a candle like this on Stretch and
• 13:54
  Speaker 1: see the rebound back into it. That would be nice,
• 13:58
  Speaker 1: a nice performance, I think in terms of getting the
• 14:00
  Speaker 1: dividend and also a potential value on Stretch. Are you
• 14:03
  Speaker 1: guys buying Stretch? Let me know in the comments if
• 14:05
  Speaker 1: you are. I'm kind of curious because we've had the
• 14:08
  Speaker 1: Stretch CEOs on before. Do you buy what they are doing?
• 14:11
  Speaker 1: Do you like the strategy of where this particular asset
• 14:16
  Speaker 1: is heading, especially around the dividends that is essentially it's paying.
• 14:20
  Speaker 1: Remember that's a tax free essentially tax free dividends, so
• 14:23
  Speaker 1: big difference there on that. Hoffman says this right here,
• 14:29
  Speaker 1: contrast between Bitmind and Strategy is very large. Bitmind has
• 14:33
  Speaker 1: no debt, no dividend obligations, positive flows on east staking.
• 14:38
  Speaker 1: That is true, and then Strategy is perpetually balancing capital
• 14:42
  Speaker 1: between stretched dividends and bitcoin purchase. So they're having to
• 14:45
  Speaker 1: sell a little bit to pay this guy. Maybe would say, Paul,
• 14:48
  Speaker 1: that sounds like a bonzie to me if you look
• 14:50
  Speaker 1: at it in just the bare basis of it. This
• 14:54
  Speaker 1: has been the question. Go back and watch our interview
• 14:56
  Speaker 1: with their CEO, because we asked him that heads. You know,
• 15:00
  Speaker 1: that's right up. You know, it looks to me like
• 15:01
  Speaker 1: you're barring from Peter to pay Paul here. So isn't that,
• 15:05
  Speaker 1: in its own right called a ponzi? I'm just kind
• 15:08
  Speaker 1: of curious where you guys think. But Tom Lee's next
• 15:11
  Speaker 1: move after buying five percent of ETH is the question
• 15:15
  Speaker 1: that everybody's asking. What happens after eth? He has five
• 15:19
  Speaker 1: percent of eth? Does he just set on it and
• 15:21
  Speaker 1: earn out that staking dividends or does he go into
• 15:24
  Speaker 1: an active mode of selling on the upside If eith
• 15:29
  Speaker 1: does get a wind under it and start to move,
• 15:33
  Speaker 1: tom Ley hits on it right here. Strategies bitcoins sale
• 15:35
  Speaker 1: is a classic bottom behavior. That's kind of the thing
• 15:37
  Speaker 1: that we were talking about with the ETF side. He says,
• 15:40
  Speaker 1: fears over strategies sale and record ETF outflows are not
• 15:44
  Speaker 1: structural threats, but signs that investors are selling during a
• 15:48
  Speaker 1: market reset. So there you go, guys. These guys are
• 15:51
  Speaker 1: saying no, but I think the market is saying we
• 15:55
  Speaker 1: don't know right now. Two crypto deadlines very very important.
• 16:01
  Speaker 1: They land in the next forty eight hours. June second,
• 16:03
  Speaker 1: Genius Acts stable cooin comment periods close at the Treasury,
• 16:06
  Speaker 1: this is the ftic and Fence end. And then June third,
• 16:10
  Speaker 1: the Senate floor reopens to potentially push Clarity Act forward.
• 16:14
  Speaker 1: So these are very critical days. Tomorrow we'll know on
• 16:18
  Speaker 1: Clarity if this is going to get placed in or not.
• 16:20
  Speaker 1: And today we'll have much more insights as to al
• 16:23
  Speaker 1: Genius Act is going to be laid into law going forward.
• 16:27
  Speaker 1: Senator Lumbus has one thing to say, We're closer to
• 16:30
  Speaker 1: a functioning digital ASHT market structure than ever before, So
• 16:35
  Speaker 1: don't flinch. Here we go. Last clip I want to
• 16:38
  Speaker 1: play for you, guys, is Kevin O'Leary, and he's talking
• 16:42
  Speaker 1: about a game changer for crypto. Take a look.
• 16:45
  Speaker 8: You talk to any S and P five hundred company,
• 16:48
  Speaker 8: Are you planning to use blockchain technology to manage inventory,
• 16:51
  Speaker 8: provide logistics, contract management, et cetera, et cetera, And they
• 16:54
  Speaker 8: all say hundred percent, say yes.
• 16:58
  Speaker 9: I say, really, which one? Well, we haven't.
• 17:01
  Speaker 8: Decided yet, And I said why have you decided? Well,
• 17:04
  Speaker 8: there seems to be no standard. So I think the
• 17:08
  Speaker 8: next big thing in crypto is which of these chains
• 17:13
  Speaker 8: is going to get at least one company in all
• 17:16
  Speaker 8: eleven sectors of the SMP, because the minute that occurs,
• 17:21
  Speaker 8: you want to go long that token, and so far
• 17:25
  Speaker 8: I haven't found it yet.
• 17:28
  Speaker 1: Let me end off with some breaking news here, guys,
• 17:30
  Speaker 1: and that of course, is that the Crypto Clarity Act
• 17:33
  Speaker 1: now is being added to the Senate Legislative calendar, making
• 17:37
  Speaker 1: it eligible keyword here is eligible for full Senate consideration
• 17:42
  Speaker 1: going to the floor, So doesn't mean it goes to
• 17:44
  Speaker 1: the floor automatically. On a certain day. It means that
• 17:46
  Speaker 1: it's now eligible to make its transition into the centate floor.
• 17:49
  Speaker 1: Still more to go. I know how this is crazy,
• 17:53
  Speaker 1: but this is how politics work. They have meetings about
• 17:55
  Speaker 1: meetings to do meetings before they do something, actually to
• 17:59
  Speaker 1: vote on it. So we're gonna cover this. We'll probably
• 18:01
  Speaker 1: hear something this week on it, so make sure it
• 18:04
  Speaker 1: stay tuned right here. If you like this video, hit
• 18:13
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• 18:16
  Speaker 1: join our free private member group the links in the
• 18:19
  Speaker 1: description