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Fed Meeting Week vs Crypto📈Market Update · The Paul Barron Crypto Show

0:00
Speaker 1: FOMC week volatility is here today. We'll break it down
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0:34
Speaker 1: go take a look at the markets real quick. We're
0:36
Speaker 1: holding it about three trillion right now currently, Fear and
0:40
Speaker 1: Greed hovering around twenty four after being way down last week,
0:44
Speaker 1: and of course Bitcoin and around one point eight trillion,
0:47
Speaker 1: and Eth holding it around three hundred and seventy six
0:49
Speaker 1: billion right now.
0:50
Speaker 2: As the markets continue to move forward.
0:52
Speaker 1: Remember the seven day on eth is up about five
0:55
Speaker 1: almost six percent. The se are on thirteen percent on
0:59
Speaker 1: eth on bitcoins. So interesting markets. Let me know what
1:03
Speaker 1: you guys think are you bullish or bearish right now?
1:05
Speaker 1: As we lead into the FOMC week with Chair Powell
1:09
Speaker 1: starting to brew things up a little bit. Here, of course,
1:13
Speaker 1: is the White House Advisor Kevin Hassett says President Trump
1:16
Speaker 1: will announce huge positive economic news. We're expecting something coming
1:20
Speaker 1: out of the White House, but Trump is kind of interesting.
1:23
Speaker 1: He claims these big announcements and then it's a kind
1:26
Speaker 1: of a nothing burger. We'll see if there is actually
1:28
Speaker 1: something big in terms of economic news coming our way.
1:32
Speaker 1: Trump says he's signing an one rule executive order on.
1:35
Speaker 2: AI this week. Maybe that's what he's talking about.
1:37
Speaker 1: You can't expect a company to get fifty approvals every
1:40
Speaker 1: time they want to do something that is more in
1:43
Speaker 1: line with what the SEC has even been talking about
1:45
Speaker 1: with Paul Atkins, where they're trying to create a framework
1:48
Speaker 1: around innovation, which is mainly go break stuff, fix it,
1:53
Speaker 1: and create some innovation in these markets. Because this is
1:56
Speaker 1: the pace of where we are right now. It's kind
1:58
Speaker 1: of like what happened in the early two thousands with
2:00
Speaker 1: the Internet. The government kind of let us go and
2:03
Speaker 1: run and break things, and I think that might be
2:05
Speaker 1: where we're going now.
2:05
Speaker 2: With AI and crypto.
2:07
Speaker 1: So obviously, with things happening right now in d C,
2:11
Speaker 1: one of the critical points right now is around this
2:13
Speaker 1: stimulus idea of a check coming back to Americans from
2:17
Speaker 1: tariffs and or other issues that DC of course have
2:21
Speaker 1: kind of created around this. Kevin Hassett goes on here
2:25
Speaker 1: and hints that maybe the stimulus checks could actually be coming.
2:28
Speaker 3: Take a look, and so there's a lot of positive
2:30
Speaker 3: news that's positive for people's jobs, for people's incomes, and
2:34
Speaker 3: for inflation. President Trump's economic policies were profoundly popular just
2:39
Speaker 3: before COVID in his first term because he had six
2:42
Speaker 3: five hundred dollars of income growth after the big tax cuts.
2:46
Speaker 3: And so right now we're going into next year where
2:48
Speaker 3: the typical person who's got no tax on tips, no
2:51
Speaker 3: tax on overtime is probably going to see it extra
2:53
Speaker 3: sixteen hundred to two thousand dollars. A lot of that
2:56
Speaker 3: will come as tax refunds in the beginning of the year.
2:59
Speaker 3: That kind of stuff is going to make it so
3:01
Speaker 3: that people are going to look at their wallets and say,
3:03
Speaker 3: oh boy, this guy's really making me better off.
3:06
Speaker 1: All right, So it kind of boils down to many
3:09
Speaker 1: of the structures that they put in place to these
3:11
Speaker 1: tax cuts, if that actually shows up in tax refunds
3:16
Speaker 1: to Americans, could.
3:17
Speaker 2: They see it that way?
3:19
Speaker 1: Maybe I'm not sure. I'm all in on what Hasset's analysis.
3:23
Speaker 1: Is there one thing I am all in on, and
3:25
Speaker 1: that is right now, who is going to be the
3:27
Speaker 1: next FED chair? It does look like Hassett will be
3:30
Speaker 1: the one holding now at about seventy eight to eighty
3:33
Speaker 1: percent after his dip down from eighty five percent. So
3:37
Speaker 1: this could start to think change things up dramatically. And remember,
3:41
Speaker 1: we've got a FORMC week here. This week we'll be
3:43
Speaker 1: doing a full livestream. If you guys are not subscribed
3:46
Speaker 1: to the show, make sure and do that right now,
3:48
Speaker 1: hit that little bell because it's going to give you
3:50
Speaker 1: a notification when we go live this week. And this
3:53
Speaker 1: is one of the most important FED meetings we've seen
3:56
Speaker 1: so far, mainly because it will hopefully give us a
3:59
Speaker 1: little bit of a segue into next year and whether
4:02
Speaker 1: or not timing for QE could be setting up, because
4:05
Speaker 1: that's the real question here, are we setting up for
4:08
Speaker 1: QE incoming? Well, that being said, when you look at
4:12
Speaker 1: where the market is Bloomberg's analysts. We're kind of looking
4:14
Speaker 1: at it from a standpoint of Hassett and whether or
4:18
Speaker 1: not he is actually the right guy for the job
4:21
Speaker 1: at the FED.
4:21
Speaker 2: Take a look to what they had to say.
4:24
Speaker 4: But on one hand, you have the FED independence question,
4:28
Speaker 4: you know, with Hassett, as you know, basically tied to
4:31
Speaker 4: the administration. But on the other does he have the
4:34
Speaker 4: credibility within the committee to drive consensus? And so we
4:39
Speaker 4: don't know that answer. I don't think he has that credibility.
4:42
Speaker 4: I think that's what the bond market is telling you.
4:44
Speaker 4: But it's important to remember that it's a full committee
4:49
Speaker 4: and you have to have the confidence of the committee
4:52
Speaker 4: to drive consensus, and I don't know if he has it.
4:55
Speaker 4: But one point on that though, I think there's a
4:57
Speaker 4: lot more to come on the FED side. I think
5:01
Speaker 4: the FED share is just one aspect. I look for
5:05
Speaker 4: some other structural changes on a come from the FED
5:10
Speaker 4: that actually whittles the independence even more than just having
5:13
Speaker 4: a different FED share.
5:16
Speaker 1: All right, So this gets very interesting going into next
5:20
Speaker 1: year because there's a few things that can be happening.
5:23
Speaker 1: One is maybe a restructure of how the FED even works.
5:26
Speaker 1: One thing to watch though right now if the FED
5:29
Speaker 1: cuts rates and the Bank of Japan hikes in December,
5:33
Speaker 1: which it looks like they are going to the rate
5:35
Speaker 1: gap between the US and Japan obviously collapses, and this
5:39
Speaker 1: of course changes everything because stronger yen and a week
5:42
Speaker 1: of dollars suddenly makes years of all this cheap yen
5:46
Speaker 1: funded bets expensive to maintain, simply meaning the reverse carry
5:49
Speaker 1: trade is over. We're going to see a lot of
5:51
Speaker 1: those assets coming on the market. That's going to push
5:53
Speaker 1: a lot of pressure into treasury markets here in the US.
5:57
Speaker 1: How does this play out going forward into the market,
5:59
Speaker 1: because remember the last time that this kind of even
6:01
Speaker 1: got close, we saw bitcoin of course liquidated quite a
6:04
Speaker 1: bit and risk assets were almost evacuated. And one thing
6:09
Speaker 1: to compared to right now is what the Fed versus
6:12
Speaker 1: Japan will be and how.
6:15
Speaker 2: It plays out. Here's a clip that kind of explains
6:17
Speaker 2: that should the bond market be concerned at all?
6:21
Speaker 5: So, first of all, I don't know who these bond
6:23
Speaker 5: investors are, but they haven't expressed that view in the marketplace.
6:27
Speaker 5: I think Steve was absolutely right. You don't see it
6:30
Speaker 5: in the steepening of the curve. You don't see it
6:32
Speaker 5: in the break evens you don't see it in how
6:35
Speaker 5: the market has priced cuts after April next year, You
6:39
Speaker 5: simply don't see it. You need a magnifying glass to
6:42
Speaker 5: find it.
6:43
Speaker 6: Where there has been.
6:44
Speaker 5: A move, it has been in yields, but I suspect
6:47
Speaker 5: that has multitude.
6:48
Speaker 6: Japan than with who's going to replace the FED. So
6:51
Speaker 6: I think it's important that they may talk the talk,
6:54
Speaker 6: but they.
6:55
Speaker 5: Haven't traded anything resembling a where we express in the ft,
7:00
Speaker 5: whoever is chair will inherit a factorate FED. They will
7:04
Speaker 5: need time to impose the authority. Scott, I think we
7:07
Speaker 5: are way to focus on the short term and not
7:10
Speaker 5: enough on the long term. What's really important for markets
7:13
Speaker 5: is that every single one on the short list has
7:17
Speaker 5: said that the FED is an urgent need for reform,
7:20
Speaker 5: and lots of people agree with that, including me. So
7:22
Speaker 5: we really should be focusing on the long term implications
7:25
Speaker 5: for the FED and not whether we get more cuts
7:28
Speaker 5: in the second half of next year.
7:31
Speaker 1: You know, I'm in agreement with Muhammad. What he's saying
7:33
Speaker 1: there is that even though I think that we are
7:37
Speaker 1: do cut just because of the over pressure on the
7:40
Speaker 1: market in general, long term effect, how it is going
7:43
Speaker 1: to happen. It's interesting that the bond market is not
7:44
Speaker 1: responding the way that you would think on this, and
7:47
Speaker 1: it's very possible it could be just be playing a
7:50
Speaker 1: game of chicken around this. The other thing that starts
7:53
Speaker 1: to strike up a lot of controversy is the amount
7:55
Speaker 1: of data that's being released out by the Department of Labor.
7:59
Speaker 2: And if you look at that, now.
8:01
Speaker 1: We've got them announcing that they've canceled the October PPI
8:05
Speaker 1: inflation report. It's likely that we're now not going to
8:07
Speaker 1: get data till after the FOMC meeting this week, which
8:11
Speaker 1: happens on Wednesday.
8:12
Speaker 2: So is there bad news in that.
8:15
Speaker 1: Data or is it data that would because if it
8:18
Speaker 1: was data that you would assume would cause Powell to
8:21
Speaker 1: maybe move, I'm not sure that it's even know usable
8:24
Speaker 1: at this late stage. That's the real question here. Is
8:28
Speaker 1: there something brewing that could be worse. Here's another basis
8:32
Speaker 1: on this. Federal reserves balance sheet fell over thirty seven
8:35
Speaker 1: billion in November. This is now six point five three trillion.
8:39
Speaker 1: It's to those lowest levels since twenty twenty. Them kind
8:42
Speaker 1: of zooming on that for you. So the Fed's reduced
8:44
Speaker 1: basically their assets by two point four to three trillion
8:48
Speaker 1: or twenty seven percent during all this tightening that we've
8:50
Speaker 1: had so three years, five months. That's the thing that
8:53
Speaker 1: you have to watch for because QE timing wise is
8:56
Speaker 1: very critical because that is typically when we start see
9:00
Speaker 1: movement into the market. So is the first part of
9:04
Speaker 1: next year actually going to be slower if we don't
9:07
Speaker 1: start to see que coming in quicker? So everybody's watching
9:11
Speaker 1: this all right, So just to highlight something here on
9:13
Speaker 1: this codec, this is where they were recording this to
9:16
Speaker 1: its lowest level since April of twenty twenty. And remember
9:19
Speaker 1: back at that time that was right before we saw stimulus,
9:22
Speaker 1: so there was a reason for that. Everybody knows what
9:24
Speaker 1: that is. But the key here is will we get
9:26
Speaker 1: a repeat of that? That's the question I think going forward,
9:29
Speaker 1: you out you have to look at We also are
9:31
Speaker 1: looking at this right here with the Federal Reserve is
9:34
Speaker 1: expected to begin a buyback which is an all time
9:36
Speaker 1: high forty five billion of debt each month beginning in January.
9:40
Speaker 1: So is that the timing is that the timing where
9:43
Speaker 1: QE could actually be occurring if we start to see
9:47
Speaker 1: these kind of things indicate I want to go to
9:49
Speaker 1: a clip real quick, because this will get into a
9:51
Speaker 1: little bit more of whether or not this is going
9:53
Speaker 1: to be a dubvish cut or a hawkish cut.
9:55
Speaker 2: Take a look.
9:56
Speaker 5: I think they cut. I mean the market expectation is
9:59
Speaker 5: ninety one. I think they should cut, so hopefully they
10:04
Speaker 5: will do what the market expects them to do, and
10:06
Speaker 5: they should do what the market expects them to do.
10:09
Speaker 1: You think they'll continue to cut, or you think it'll
10:11
Speaker 1: be more of a hawkish cut.
10:13
Speaker 6: I think it will be more of a hawkish cut.
10:14
Speaker 6: I think they're gonna.
10:17
Speaker 5: Frame it or package it in the context of this
10:20
Speaker 5: data is so confusing, it's not even complete.
10:23
Speaker 6: We have to wait and see, and.
10:24
Speaker 5: That comes from a FED that's successively data dependent. If
10:27
Speaker 5: they were to look forward and they see what's going
10:30
Speaker 5: on on the supply side, I think they would signal
10:34
Speaker 5: a less hawkish cut. But I think this FED, which
10:38
Speaker 5: is very backward looking, will signal a hawkish cut.
10:42
Speaker 2: Well. I believe he's right.
10:43
Speaker 1: This is the thing I'm getting at often is that
10:46
Speaker 1: the FED is behind right now in terms of where
10:48
Speaker 1: cuts could happen, which I still think we're just behind
10:52
Speaker 1: the eight ball in terms of where we should be
10:54
Speaker 1: by now here. We are in late twenty twenty five,
10:57
Speaker 1: and we haven't seen but two cuts going this year.
11:00
Speaker 1: Remember going into this year, we were thinking four cuts,
11:03
Speaker 1: and we get a third possibly coming up in January.
11:07
Speaker 1: That's a possibility. But this is the issue I think
11:10
Speaker 1: we're facing right now. If you look at the recession odds, well,
11:14
Speaker 1: they continue to dive because remember back here in October
11:16
Speaker 1: we are a forty six percent possibility for recession. This
11:20
Speaker 1: of course has dropped to its lowest of twenty nine
11:23
Speaker 1: percent just here recently with a little bit of a
11:25
Speaker 1: spike now up to thirty two percent.
11:27
Speaker 2: And this is a.
11:28
Speaker 1: Query that I think a lot of people are looking
11:31
Speaker 1: at in the sense of the way the market has responded.
11:34
Speaker 1: Crypto is continuing to pull out, but yet stocks, bonds,
11:38
Speaker 1: what we're seeing in the gold market, silver is continuing
11:42
Speaker 1: to skyrocket. So I think this is the factor that
11:44
Speaker 1: people are looking at in comparison to where recession odds
11:47
Speaker 1: are going right now. All right, So I want to
11:49
Speaker 1: go to a clip here because everybody's asking is this
11:51
Speaker 1: the time to go in on cryptos? This is the time
11:53
Speaker 1: to go into stocks and bonds, And if you look
11:55
Speaker 1: at the AI trade. Is it still a potential listen
11:59
Speaker 1: to this.
12:00
Speaker 6: How important are the dots going to be this week?
12:03
Speaker 6: What we're going to learn from the dots?
12:04
Speaker 1: Are they useful going into twenty twenty six with a
12:08
Speaker 1: new FED chair coming in and so much uncertainty surrounding
12:11
Speaker 1: the US economic outlook.
12:16
Speaker 7: They're not useful into twenty twenty six, but they're a
12:18
Speaker 7: massive tradeable moment this week. This time of year is
12:21
Speaker 7: really interesting that this is a this is a great
12:23
Speaker 7: market for traders people who are alert to.
12:24
Speaker 2: Kind of miss pricings.
12:26
Speaker 7: Part of the reason it's such a good market for
12:27
Speaker 7: traders is actually quite bad for the macro person. This
12:30
Speaker 7: is not the time of the year to kind of
12:31
Speaker 7: get involved in those longer term trades, particularly ahead of
12:34
Speaker 7: the FED this week, and as then after that we
12:37
Speaker 7: get in decline in liquidity, so you know, people wait
12:39
Speaker 7: till January to get really involved in the macro trades again.
12:42
Speaker 7: But it's because of that, it's because that kind of
12:44
Speaker 7: declining participation for the macro community that for traders there's
12:47
Speaker 7: real opportunities and so I think the dots will be
12:49
Speaker 7: super interesting this week, but no, they won't last in
12:52
Speaker 7: relevance until the new year.
12:54
Speaker 1: So as you can see from those two clips, they're
12:55
Speaker 1: kind of playing the markets two ways. One of course
12:59
Speaker 1: looking in the near two which is much more volatility,
13:01
Speaker 1: great for traders, Muhammad was talking about. This is more
13:05
Speaker 1: of a long term investment play that plays out beyond
13:08
Speaker 1: what the FED is dealing with around q E and
13:09
Speaker 1: immediate right cuts. This should be looked into maybe into
13:13
Speaker 1: Q two Q three of next year. These are the
13:15
Speaker 1: kind of factors that a lot of investors are trying
13:17
Speaker 1: to figure out right now. It depends on where you
13:19
Speaker 1: lie on your strategy. Some people going after a short term,
13:23
Speaker 1: more volatile approach, whether you're trading on crypto, which I
13:27
Speaker 1: think is seems to be the active moment right now
13:30
Speaker 1: in terms of where a lot of the profits are.
13:32
Speaker 2: Being made now.
13:33
Speaker 1: One thing though, that continues to plague crypto is the
13:37
Speaker 1: consistency of the problems that we've had in the banking sector.
13:41
Speaker 1: Many of you guys know Jamie Diamond, almost infamous from
13:45
Speaker 1: d Banking. Well, he went on air to talk about
13:48
Speaker 1: that today. Take a look the.
13:50
Speaker 8: Former chairman of the Intelligence Committee.
13:52
Speaker 9: Who said I've seen Jamie Diamond and others at JP
13:55
Speaker 9: Moore going to say this over and over again, that
13:57
Speaker 9: they don't dbank people for political reasons. Well, and why
14:01
Speaker 9: the hell did you debank Trump media?
14:03
Speaker 8: Did you send over the bank records of Devin Nunez
14:06
Speaker 8: or Trump supporters to the Special Council when.
14:09
Speaker 2: He wanted that information.
14:10
Speaker 8: People have to grow up here, okay, and stop making
14:14
Speaker 8: up things and stuff like that. So I can't talk
14:17
Speaker 8: about an individual account. We do not bank people debanked
14:20
Speaker 8: people so religious to political affiliations, we do debank them.
14:25
Speaker 8: We debank people who are Democrats, we debank people who
14:28
Speaker 8: are Republicans. We've debanked different religious folks.
14:31
Speaker 2: I don't like debanking people.
14:32
Speaker 8: I can't even tell you when we do it, because
14:34
Speaker 8: I'm not going to tell you that either.
14:37
Speaker 2: All right, So interesting statement there.
14:39
Speaker 1: If it's not political, then you know, why would he
14:42
Speaker 1: have even said that. Clearly this is something that is
14:46
Speaker 1: in the vein of that he's just not I guess
14:49
Speaker 1: he's not going to answer the question for Maria. Let's
14:51
Speaker 1: jump over to ethereum because this, of course will get
14:54
Speaker 1: everybody up in roar, because this is a strategy that
14:58
Speaker 1: everybody's questioning right now. And what I mean by that
15:01
Speaker 1: is Tom Lee's strategy. Tom Lee's Bitmind buys Sporner twenty
15:04
Speaker 1: nine million in eight as heth had a little bit
15:06
Speaker 1: of a rebound over three k. This again gets to
15:09
Speaker 1: a very intriguing position because remember Tom Lee has been
15:14
Speaker 1: on record saying we are going to see just crazy
15:17
Speaker 1: highs by the end of the year. That has not
15:19
Speaker 1: necessarily come to pass. And I think the big question
15:24
Speaker 1: is does this go into the early January now, which
15:28
Speaker 1: is where he's kind of pointing to, does this go into.
15:31
Speaker 2: January before we get any kind of market movement?
15:34
Speaker 1: And I would say that if he hits five thousand,
15:36
Speaker 1: he's probably going to take that as a win. But
15:39
Speaker 1: I guess the question really pertains to how the future
15:43
Speaker 1: is going forward for bitmind and what they are doing.
15:46
Speaker 1: Tom Lee kind of going all in here with what
15:48
Speaker 1: his bet is on ethereum. The question is what is
15:51
Speaker 1: the strategy on how to play this into twenty twenty six,
15:54
Speaker 1: because if he does, and if he is right, if
15:56
Speaker 1: we do see an all time high in twenty twenty
15:58
Speaker 1: six for ethereum or bitcoin, then we will see the
16:01
Speaker 1: end of the four year cycle. Here's Tom Ley's bent
16:04
Speaker 1: Mind by ze hundred and thirty eight thousand and eighth,
16:05
Speaker 1: there's the four to thirty five.
16:07
Speaker 2: It's clear Lee and Sailor both want to.
16:10
Speaker 1: Trigger or try to trigger a December rally. Do you
16:12
Speaker 1: think that's going to happen?
16:14
Speaker 2: Guys?
16:14
Speaker 1: Do you think here on December eighth, as we record this,
16:17
Speaker 1: going into a FED meeting, most likely going to see
16:21
Speaker 1: a hawkish quarter point. Do you think we're going to
16:25
Speaker 1: move in to possibly a Santa rally coming up on
16:28
Speaker 1: bitcoin and or ethereum, let me know in the comments
16:30
Speaker 1: down below.
16:32
Speaker 2: Here's another point right here.
16:33
Speaker 1: Incredible to see sec chairman Atkins openly discuss the benefits
16:36
Speaker 1: of tokenization bringing assets on chain. I think this is
16:39
Speaker 1: huge because he is talking about really moving fast, trying
16:43
Speaker 1: to break things and trying to modernize our financial markets.
16:47
Speaker 1: This I totally agree with and I think this is
16:49
Speaker 1: something that we will see and go back on years
16:52
Speaker 1: from now. The statement of secaer chair Paul Atkins is
16:57
Speaker 1: that all us that's in quotation, all US markets will
17:00
Speaker 1: be on chain within two years.
17:03
Speaker 2: Guys.
17:03
Speaker 1: That is insane to be thinking that way. And you
17:07
Speaker 1: think about the speed to market, because imagine where we're
17:09
Speaker 1: going to be in six months, eight months from now,
17:12
Speaker 1: and here we are. We're going to look back on
17:13
Speaker 1: this time, like I said, and we're going to see
17:16
Speaker 1: it as this is where it all began in terms
17:18
Speaker 1: of the future of blockchain, crypto AI, all kind of
17:21
Speaker 1: coming together at once.
17:22
Speaker 3: All right.
17:22
Speaker 1: One other thing to kind of consider is the prospectus
17:25
Speaker 1: filing for I shares. This course is going to be
17:27
Speaker 1: staked etf coming in. This is on their third or
17:30
Speaker 1: excuse me, fourth crypto filing. Remember that spot bitcoin eh
17:34
Speaker 1: and bitcoin income. Now this all right, One other thing jumping.
17:38
Speaker 2: To Salana real quick.
17:39
Speaker 1: They have Breakpoint happening in this week, one of the
17:41
Speaker 1: biggest events, as you can see, one of the largest
17:43
Speaker 1: in attendance, sixty three hundred plus. If you look at
17:47
Speaker 1: all the things that are going on around this, You've
17:49
Speaker 1: got the Calshi prediction markets now tokenized by Salana. You
17:52
Speaker 1: can kind of see the laundry list there. Revolute Integrated
17:56
Speaker 1: if you don't know who, Revolute is one of the
17:57
Speaker 1: biggest neo banks out there in Europe. All of this
18:00
Speaker 1: is going on right now. We'll be reporting on this
18:02
Speaker 1: a little bit later in the week. Last up that
18:05
Speaker 1: I want to hit on is this little statement right here,
18:08
Speaker 1: which is top us bank CEOs are now meeting with
18:12
Speaker 1: senators to discuss the market structure legislation. I don't know
18:16
Speaker 1: if this is a good thing or a bad thing.
18:19
Speaker 1: This could be a good thing if they're just saying, hey,
18:22
Speaker 1: let's finalize a few details. Could be a bad thing
18:25
Speaker 1: if they're saying, hey, our lobbies are not getting through
18:28
Speaker 1: you guys, this is bad for our banking industry and
18:30
Speaker 1: we need to structure or restructure some of this language.
18:34
Speaker 2: That is the question that will come out.
18:35
Speaker 1: And if we get a delay into January and then
18:38
Speaker 1: we get a further push, that will question the validity
18:42
Speaker 1: of getting market structure done, maybe even in twenty twenty six,
18:45
Speaker 1: because you remember you have midterms coming up next year
18:49
Speaker 1: and that is a big deal in DC. You guys
18:52
Speaker 1: know what to do. Make sure and like subscribe. If
18:54
Speaker 1: you're not already one of our members in the bar
18:57
Speaker 1: and Market Edge, you should be. It's an absolute free program.
19:00
Speaker 1: You can of course join just by clicking the link
19:02
Speaker 1: down below, and of course follow me out there on
19:05
Speaker 1: X at Paul Baron. We'll catch you next time right
19:06
Speaker 1: here on the Paul Baron Show.