Latest / Financial Survival Network / Market Bubbles & Bitcoin Booms! - Jerry Robinson #6186

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Market Bubbles & Bitcoin Booms! - Jerry Robinson #6186 · Financial Survival Network

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Speaker 1: Slash investing in America.
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Speaker 2: Let's just assume everything continues on the way it is.
0:33
Speaker 2: So it's gold, precious metals, bitcoin. What about the stock
0:37
Speaker 2: market though, If we have an inflationary environment, real estate,
0:42
Speaker 2: stock market, asset investing thrives.
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Speaker 2: Ed Welcome you are listening to and watching the Financial
1:17
Speaker 2: Survival Network. I'm your host, Carrie Lutz. Today we've got
1:21
Speaker 2: a guest I haven't had on it in a while,
1:22
Speaker 2: did a couple of conferences together. We kind of both
1:26
Speaker 2: discovered bitcoin together. Name is Jerry Robinson. Follow the Money
1:31
Speaker 2: dot com, Questions, comments, Klatcarrie LUTs dot com.
1:35
Speaker 3: Jerry, it's great to have you back. How's everything.
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Speaker 5: It's going great, great to be here, Carrie. I sure
1:40
Speaker 5: do appreciate being back on and it's good to see
1:43
Speaker 5: you're just still kicking. You've been doing this for so long.
1:45
Speaker 5: Some of the folks who are new to the to
1:47
Speaker 5: your show should know you've been You've been at this
1:49
Speaker 5: for a long long time.
1:50
Speaker 3: Appreciate you. Hey, thank you for that.
1:54
Speaker 2: You know, it's been fourteen years, if you can believe it,
1:58
Speaker 2: over nine thousand episodes and I'm still I'm still going
2:03
Speaker 2: just as strong as I was.
2:05
Speaker 3: New people always.
2:06
Speaker 2: Listening, and yeah, it's pretty wild.
2:10
Speaker 3: They got to tell you still doing it. Good for you, brother.
2:14
Speaker 5: I think we got started around the same time, about
2:16
Speaker 5: twenty ten is when we started fallowdownty dot com. And yeah,
2:19
Speaker 5: we kind of got started at the same time. Pretty interesting, right.
2:22
Speaker 2: We didn't we did. Yeah, it's amazing. I can't even
2:26
Speaker 2: believe it, but here we are, and we're still We're
2:32
Speaker 2: still giving the message out there still letting people know
2:36
Speaker 2: that this is this is real, and it's getting more
2:41
Speaker 2: real all the time. So the new administration, the more
2:45
Speaker 2: things change, the more they stay the same. The hand
2:48
Speaker 2: just rearranges the players in the game. Right, the king
2:51
Speaker 2: is dead, long lived the kid.
2:54
Speaker 5: Well, we do have a new administration. You can tell
2:56
Speaker 5: from the markets that there are certain sectors that really
3:00
Speaker 5: like this outcome. There's other sectors that are not so happy.
3:04
Speaker 5: And that's the way it always is. You know, had
3:07
Speaker 5: we had a different outcome, had we had a Harris victory,
3:10
Speaker 5: we would just be basically seeing a lot of inverse action,
3:12
Speaker 5: you know. So basically, you know, it doesn't really matter
3:16
Speaker 5: who is in office when you look at the longer term.
3:20
Speaker 5: I have a great chart that I recently saw in
3:24
Speaker 5: the wake of this election that just shows that anybody
3:27
Speaker 5: who tries to play politics with their investments usually gets
3:32
Speaker 5: you know, it can work. And I'm not talking about
3:35
Speaker 5: strategic sector allocation. I'm not saying, Okay, we have a
3:39
Speaker 5: we have somebody who's pro energy, so I'm going to
3:41
Speaker 5: have a little more energy in my portfolio.
3:43
Speaker 3: I'm not talking about that.
3:45
Speaker 5: There are people who actually freak out and just get
3:48
Speaker 5: out of the market because so and so won, which
3:51
Speaker 5: we've seen many times throughout the hit you know, throughout
3:54
Speaker 5: the many different times, and when you look at that,
3:56
Speaker 5: you'll see, well, that usually is a losing strategy. So
4:00
Speaker 5: the way I look at this in this environment here
4:02
Speaker 5: is not to you know, not to really freak out
4:04
Speaker 5: about anything, but just to just to basically, you know,
4:07
Speaker 5: be have prudent allocation, stay invested in the right things,
4:11
Speaker 5: and don't let anybody shake you out. Don't let anybody
4:15
Speaker 5: spook you into thinking that this time it's different or whatever.
4:19
Speaker 5: And that would again either way, whoever wins, you always
4:22
Speaker 5: have those voices that are trying to erode your confidence
4:27
Speaker 5: in your long term investment strategy. And I don't think
4:30
Speaker 5: a politician is really going to change, you know, the
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Speaker 5: long term investment strategy that we've laid out, and they
4:37
Speaker 5: call them.
4:38
Speaker 2: A leopard never changes his spots, right, the leopard never
4:42
Speaker 2: changes his spots, very true. So what do you do
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Speaker 2: about it? You know, things are crazier than ever. People
4:52
Speaker 2: are crazier than ever. Markets are more volatile than ever
4:56
Speaker 2: in many respects. I mean, hey, when we you and
4:59
Speaker 2: I got together, their bitcoin was around twelve or twenty
5:02
Speaker 2: bucks a piece. Now it's at most seventy five thousand.
5:07
Speaker 2: I mean that is pretty amazing, isn't it. Bitcoin is
5:12
Speaker 2: stunning all of the skeptics. It's stunning all of the
5:16
Speaker 2: all of its opponents. We were talking about this off
5:20
Speaker 2: the year, how you and I, you know, learned about bitcoin.
5:23
Speaker 3: Very early from.
5:26
Speaker 5: Someone who knew a lot about bitcoin very early, and
5:31
Speaker 5: so you and I were blessed in that regard to
5:34
Speaker 5: know about it so early. And it's crazy today because
5:38
Speaker 5: when you and I were talking about bitcoin, say back
5:41
Speaker 5: in twenty thirteen or whatever, you know, the idea that
5:45
Speaker 5: there would be a proposed bitcoin strategic reserve, or the
5:49
Speaker 5: idea that there would be you know, that we would
5:52
Speaker 5: want to make America the bitcoin or crypto capital of
5:57
Speaker 5: the world. I mean, this is absurd. You know, it
6:00
Speaker 5: was just very early at the time, and so I
6:03
Speaker 5: can't think of an asset class that has gained as
6:07
Speaker 5: much institutional adoption so incredibly fast as the digital asset space.
6:13
Speaker 5: And it's really kind of made for this time that
6:15
Speaker 5: was really kind of always the use case for bitcoin
6:19
Speaker 5: was the fact that it served as this currency without
6:22
Speaker 5: a government in a world where governments had become reckless
6:26
Speaker 5: with their currencies, and so therefore, I think many people
6:30
Speaker 5: are tuning in. We're seeing pension funds and endowments and
6:33
Speaker 5: countries and corporation was the spot, Yeah right, who isn't?
6:40
Speaker 5: And now with these, you know, when you remember the
6:43
Speaker 5: whole point of bitcoin is the finite nature. I mean
6:47
Speaker 5: this white paper which we just celebrated, I guess the
6:51
Speaker 5: what is it the sixteenth anniversary or fifteenth anniversary or
6:53
Speaker 5: whatever it was that, you know, again incredible that the
6:57
Speaker 5: Federal Reserve would even notice an asset like this, it's
7:00
Speaker 5: only been around for fifteen years or so, they would
7:03
Speaker 5: even come on their radar, or that a president would
7:05
Speaker 5: even come up in a presidential campaign some asset.
7:07
Speaker 3: That's just that new.
7:09
Speaker 5: Just absurd that you know, they would have that much
7:12
Speaker 5: influence upon political campaigns and upon the central banks.
7:16
Speaker 3: It's incredible.
7:18
Speaker 5: But the primary benefit, or maybe the primary feature of
7:25
Speaker 5: the Bitcoin white paper, aside from the fact that it
7:28
Speaker 5: was this currency without a government where you couldn't haul
7:30
Speaker 5: in the CEO of Bitcoin before Congress and make him,
7:33
Speaker 5: you know, confess to this or this. You know, there's
7:36
Speaker 5: just no CEO, but also the finite nature, and this
7:41
Speaker 5: is what we're getting ready to see, and what we're
7:43
Speaker 5: seeing now is the fact that you only have twenty
7:46
Speaker 5: one million bitcoin. This story is is you know, this
7:48
Speaker 5: has been going on since the beginning. But as these
7:51
Speaker 5: spot bitcoin ETFs are you know, hoovering up these the
7:56
Speaker 5: available bitcoin that are being mined as sovereign into tas
8:00
Speaker 5: are buying bitcoin as endowments and corporates, corporations are putting
8:04
Speaker 5: them in their treasuries. It's just we don't have any
8:08
Speaker 5: assets like this. Yes, is gold finite, well to a
8:12
Speaker 5: certain extent, Carrie, there is only so much gold, But
8:16
Speaker 5: we don't really know how much gold there is really
8:18
Speaker 5: because again we could always find more. When it comes
8:21
Speaker 5: to silver, it's the same thing. We know approximately how
8:24
Speaker 5: much there is, but at the same time you could
8:26
Speaker 5: always find more. We don't have any assets to look
8:29
Speaker 5: at to say there is no more. And in a
8:33
Speaker 5: world where you have infinite you know, paper money being
8:38
Speaker 5: created and just no cap on it at all, this
8:41
Speaker 5: is becoming increasingly attractive to people who are waking up.
8:46
Speaker 5: So I think bitcoin and gold are both going to
8:50
Speaker 5: thrive incredibly underneath a Trump administration. If you go back
8:54
Speaker 5: to the first Trump administration. Carry you remember, gold was
8:58
Speaker 5: a star underneath the first Trump administration. You know, so
9:03
Speaker 5: much spending that was going on, and gold was just
9:05
Speaker 5: going up, up, up. I think we're going to see
9:07
Speaker 5: something similar. The Wall Street Journal put out a piece.
9:12
Speaker 5: Many people called it a hit piece if you were
9:14
Speaker 5: pro trumpet. Others thought it was just an accurate portrayal.
9:18
Speaker 5: But economists, we're looking at the spending proposed by Trump
9:20
Speaker 5: and said, look, this is going to break the country.
9:23
Speaker 5: I mean, this is absolutely incredible how much money is
9:25
Speaker 5: being proposed to spend. Now, we don't know if he's
9:27
Speaker 5: going to keep all those promises, but if he does,
9:30
Speaker 5: then that's going to be really good for gold, and
9:32
Speaker 5: I would say even better for bitcoin because of the
9:35
Speaker 5: finite nature of bitcoin. So I think bitcoin and gold
9:39
Speaker 5: two major winners for the next four years. I think
9:42
Speaker 5: it's just kind of a given.
9:44
Speaker 2: Another way of saying that it's going to be bad
9:46
Speaker 2: for the dollar, bad for interest treats, and bad for inflation.
9:52
Speaker 3: Mm hmm, but yeah, yeah, true.
9:56
Speaker 2: So what if we trashed the income tax, went to
10:00
Speaker 2: a consumption tax and tariffs and and Elon Musk does
10:07
Speaker 2: or the federal budget, what he's done for automobile production,
10:11
Speaker 2: which was cut the costs by you know, by orders
10:16
Speaker 2: of magnitude.
10:18
Speaker 5: What would happen then, Well, I'm certainly no tax expert
10:22
Speaker 5: or tax policy expert, but I do have some opinions, however,
10:26
Speaker 5: informed or uninformed. But I've always liked, while you're here,
10:30
Speaker 5: that's right, I've always liked the idea of a consumption tax.
10:33
Speaker 5: I think that it quite frankly, makes a lot more sense.
10:36
Speaker 5: You're you're actually incentivizing production and you're disincentivizing consumption. But
10:43
Speaker 5: of course that's a dangerous thing to do for an
10:46
Speaker 5: economy that's entirely built upon consumption, uh, to discourage consumption.
10:51
Speaker 5: So in other words, it's kind of a double edged sword.
10:53
Speaker 5: But I've always liked the idea of a consumption tax.
10:57
Speaker 5: Uh that that that could have happen. I think we're
11:01
Speaker 5: certainly going to see lower taxes. I think people who
11:03
Speaker 5: are concerned about estate taxes can now relax a little bit.
11:07
Speaker 5: There was concern about that sunset provision. I think people
11:11
Speaker 5: who are concerned about their tax brackets going up don't
11:14
Speaker 5: need to worry about that now. I think I think
11:16
Speaker 5: we know that taxes are going to be low but
11:18
Speaker 5: at the same time, even though you and I may
11:20
Speaker 5: like that, I mean, everybody likes lower taxes, we just
11:23
Speaker 5: remember that, well, how are they paying for all the
11:26
Speaker 5: things that are going to be doing. You had mentioned
11:29
Speaker 5: the Musk efficiency or getting rid of the waste and
11:33
Speaker 5: government efficiency program. Well, you know, even he admits that
11:38
Speaker 5: if they implement something like that, it could cause some
11:41
Speaker 5: real serious dislocations in the economy for a period of time.
11:46
Speaker 3: So necessary, right.
11:48
Speaker 5: Yeah, No, undoubtedly, it's like a cold, you know, or
11:50
Speaker 5: like a flu. I mean, you kind of got to
11:51
Speaker 5: get rid of it. You got to cleanse the system.
11:53
Speaker 5: And I'm okay with that idea. I mean, I think
11:56
Speaker 5: we do need to experience it. We definitely needed cleansing
12:02
Speaker 5: in terms of our But again, you know, I think
12:07
Speaker 5: it's easier said than done because again, once again the
12:10
Speaker 5: key part to keep in mind carry is that no
12:12
Speaker 5: one has told us what they're going to cut. Now
12:15
Speaker 5: we hear things like we're going to shut down this
12:17
Speaker 5: department of this, you know, of education or whatever. Now
12:20
Speaker 5: that's all this stuff is easier said than done. It
12:22
Speaker 5: works fine on the campaign trail, but actually implementing these.
12:26
Speaker 2: Things about it that you shut down the Department of
12:29
Speaker 2: Redundancy Department.
12:32
Speaker 3: Sure, why not?
12:33
Speaker 2: You know, why not redd? They're all redundant. I could
12:36
Speaker 2: he just a federal budget by about a third with
12:41
Speaker 2: one session of chat GPT I did, Yes, said what
12:45
Speaker 2: are the top one hundred agencies to get rid of?
12:48
Speaker 2: And it put out agency after agency after agency that
12:53
Speaker 2: I never even heard of, you know, the betteral Monument
12:57
Speaker 2: and Research and Commission. I don't know what they're searching
13:00
Speaker 2: monuments for, but crazy agencies here. That just shows the
13:05
Speaker 2: government's completely out of control. And the only way you
13:09
Speaker 2: know to bring something under control is you either got
13:13
Speaker 2: to cut it, or you got to sedate it, or
13:15
Speaker 2: you got to do something kill it.
13:19
Speaker 5: Well, one of the largest areas Carrie, that we could
13:22
Speaker 5: really save money is the war machine. Yeah, the Department
13:26
Speaker 5: of Defense, the Pentagon, which still can't pass an audit
13:29
Speaker 5: after years and years and years. I'd say take the
13:32
Speaker 5: knife to the Pentagon. But again that's unlikely in a
13:37
Speaker 5: Trump administration. And that's why that's what causes some people
13:40
Speaker 5: to be concerned, is that, you know, the idea of
13:42
Speaker 5: cutting the waste of the Pentagon. I mean I've talked
13:45
Speaker 5: to people who are you know, you know, relatively high
13:48
Speaker 5: up in the military over the years, and they've told
13:51
Speaker 5: me horror stories of the waste.
13:53
Speaker 3: We've all heard these stories of the wasst the general
13:55
Speaker 3: is lining their pockets.
13:57
Speaker 5: Oh, it's incredible waste. And and so you know, to me,
14:01
Speaker 5: that's where I would start. I wouldn't start with education.
14:04
Speaker 5: I wouldn't start with you know, poor people's food or anything.
14:07
Speaker 5: I would start with, you know, the military.
14:09
Speaker 3: I mean, I think this is the most obvious thing.
14:11
Speaker 5: And I may have I haven't really followed the Trump
14:14
Speaker 5: campaign very much through this whole process, so I can't
14:17
Speaker 5: really say that they've brought it up or not brought
14:19
Speaker 5: it up. But I don't recall hearing them saying we're
14:21
Speaker 5: going to slash the military or we're going to slash
14:24
Speaker 5: the waste in the military. So I have a feeling
14:26
Speaker 5: that I have a feeling that this is going to
14:28
Speaker 5: be billionaires deciding who should get money, and usually they
14:31
Speaker 5: think another billionaire should get money, so surprise, and so
14:35
Speaker 5: I'm a little concerned as to who's going to lose
14:38
Speaker 5: and who's going to win.
14:39
Speaker 2: You know, so we know probably who's going to lose,
14:43
Speaker 2: and that's going to be the American public. One way
14:46
Speaker 2: or the other. Even if the intentions really are good,
14:48
Speaker 2: which I believe they are, it's still this is the
14:53
Speaker 2: turning the aircraft carrier around. Right. The only beneficial thing
14:59
Speaker 2: is basically Trump figured out he found all the people
15:03
Speaker 2: in Washington that he couldn't trust, right, and he's going
15:07
Speaker 2: in there with an agenda. And you know, the day
15:11
Speaker 2: that he goes into office, a thousand executive orders will
15:14
Speaker 2: be filed. I guarantee you, there's no question about that. So,
15:18
Speaker 2: but you know, let's just assume everything continues on the
15:22
Speaker 2: way it is. So it's gold, precious metals, bitcoin. What
15:26
Speaker 2: about the stock market though, If we have an inflationary environment,
15:31
Speaker 2: real estate, stock market, asset investing thrives, right.
15:36
Speaker 3: Sure. Yeah.
15:37
Speaker 5: And when you go back and you look at say
15:39
Speaker 5: Trump and at his administration the first four years, he's
15:43
Speaker 5: the first guy since President's has Grover Cleveland, I guess
15:47
Speaker 5: that has actually had to come into office even then
15:50
Speaker 5: come back. And so this will be an interesting novel,
15:53
Speaker 5: sort of a novel thing for our generation anyway, to
15:55
Speaker 5: see somebody come back. He actually has experience. He's been
15:58
Speaker 5: out for four years. He's had a lot of time
16:00
Speaker 5: to think about things that could that could you know,
16:03
Speaker 5: could be good. We'll see there's a lot of angst
16:06
Speaker 5: around his presidency. You know, not just here in the
16:09
Speaker 5: country but everywhere. There's a lot of unpredictability. In some
16:12
Speaker 5: ways that's good. In some ways that may not be good.
16:14
Speaker 5: But as far as the market goes, the way I
16:16
Speaker 5: see it is that when you go back and you
16:17
Speaker 5: look at the first forty years of Trump, you see
16:19
Speaker 5: that technology and I want to say it was I
16:23
Speaker 5: used to have this memorized, but I remember it was
16:25
Speaker 5: technology was the best performer. And then which is surprising,
16:29
Speaker 5: and then the second one was consumer discretionary, these two
16:33
Speaker 5: sectors of the S and P five hundred, which kind
16:35
Speaker 5: of makes sense. And that when you think about the
16:37
Speaker 5: time frame when you look at Biden, what you know
16:40
Speaker 5: what the top sector has been under Biden. It's actually energy,
16:44
Speaker 5: which again is somewhat surprising as well, because you you
16:46
Speaker 5: would kind of think those would be reversed. But it
16:49
Speaker 5: all makes sense when you consider the back of the
16:51
Speaker 5: historical backdrop for both of their terms. But when we
16:55
Speaker 5: look forward for Trump, I think that technology is going
16:58
Speaker 5: to continue to be a big, big winner. Innovation is
17:02
Speaker 5: simply bipartisan and that's fortunate for us because we want
17:06
Speaker 5: to see continued innovation. I think innovation will continue regardless
17:10
Speaker 5: of what happens, even if we you know, some people
17:12
Speaker 5: will say, hey, we're going to we're going to inter
17:14
Speaker 5: a depression. Well, even in times of great depression, you know,
17:19
Speaker 5: innovation continues, and so innovation I think is just going
17:23
Speaker 5: to continue. We're going to see lots of incredible things
17:25
Speaker 5: going to move forward, AI, I think, and quite frankly,
17:29
Speaker 5: you go ahead, it's incredible what is done.
17:33
Speaker 2: I'm going to just read you a little something about
17:35
Speaker 2: Grover Cleveland's second term. Sure, and let's said he was
17:38
Speaker 2: a big anti corruption, populist guy. He was against tariffs
17:43
Speaker 2: his first term. Cleveland's second presidency began with optimism, but
17:48
Speaker 2: quickly confronted the severe economic realities of the time. While
17:52
Speaker 2: they returned with a clear vision for reform and stability,
17:56
Speaker 2: the economic foundation was faltering. Shortly after he took office,
18:00
Speaker 2: the United States faced one of its most significant economic crises,
18:05
Speaker 2: the Panic of eighteen ninety three, which would shape his
18:09
Speaker 2: entire second term. History doesn't rhyme, but it sure does echo,
18:14
Speaker 2: doesn't it, Jerry?
18:16
Speaker 5: That certainly could happen, That could I mean, the economy
18:20
Speaker 5: we're facing now is it's very precarious. As you and
18:23
Speaker 5: I both know, we've been saying for years, this is
18:25
Speaker 5: not a good situation that we're in. One of the
18:29
Speaker 5: concerns that I have now that the presidency is over
18:33
Speaker 5: is I've been saying this now for a couple of months,
18:35
Speaker 5: and I'm getting this sense that it's going to happen,
18:38
Speaker 5: and I'm really hoping it's not. But in the wake
18:40
Speaker 5: of this election, now that everything's there, the honeymoon is
18:43
Speaker 5: going to now go on for a bit of time.
18:46
Speaker 3: But I'm thinking sometime.
18:48
Speaker 5: You know, in the next month to maybe maybe after
18:50
Speaker 5: his first hundred days, who knows, maybe we're going to
18:53
Speaker 5: see the credit rating agencies come out and downgrade US
18:56
Speaker 5: once again, the United States. There is appsbsolutely no path
19:01
Speaker 5: forward that is sane. There is no path forward that
19:05
Speaker 5: any creater rating agency could look at America and say
19:07
Speaker 5: this is.
19:08
Speaker 3: All going to be fine. There's no scenario.
19:10
Speaker 5: So because there's no scenario where things can get better
19:14
Speaker 5: without drastic changes. Well, use, like you said, we may
19:18
Speaker 5: see some drastic changes, but that could create and royal
19:22
Speaker 5: the markets, royal the economy, and then again people would
19:27
Speaker 5: then say, well, where's my fifty cent bread? You know,
19:30
Speaker 5: where's my dollar gallon gas line? I was promised to
19:33
Speaker 5: lower inflation. So, in other words, the expectations of the
19:38
Speaker 5: people also kind of play a part in this and
19:42
Speaker 5: and right now. And that's my concern about the whole
19:44
Speaker 5: Trump campaign, quite frankly, is that I think there's been
19:48
Speaker 5: unrealistic expectations about what to expect from this economy. You know,
19:54
Speaker 5: the idea that you don't like, you know, six dollars milk, Well,
19:57
Speaker 5: you know that's kind of tough.
19:58
Speaker 3: I mean, look at.
20:00
Speaker 5: Yeah, I get used to it. I mean, if you
20:01
Speaker 5: don't like three dollars gas, I mean I don't know
20:03
Speaker 5: what to tell you. I mean, you got you got
20:05
Speaker 5: some of the lowest tax rates that we ever had.
20:07
Speaker 5: They and with Trump gets in of course, which he is,
20:10
Speaker 5: they're going to go down. So this this is a
20:12
Speaker 5: recipe for some sort of disaster. And while I think
20:17
Speaker 5: Trump is going to goose the markets, I mean, look
20:20
Speaker 5: at what happened to find look at just look at
20:23
Speaker 5: day one of what happened with the Trump victory, and
20:27
Speaker 5: you get a pretty good glimpse of what's ahead. Bitcoin
20:30
Speaker 5: hit a new all time high when people were saying,
20:32
Speaker 5: when's bitcoin going to hit a new all time high?
20:34
Speaker 5: We're just waiting for it.
20:35
Speaker 3: When did it? When did it happen?
20:36
Speaker 5: The day that Trump won election? Pro as well is
20:41
Speaker 5: pro just a pro crypto and so there you go.
20:44
Speaker 5: So now you see very likely to have a We
20:46
Speaker 5: just did a show called the Bitcoin bull Market Fall
20:49
Speaker 5: Money podcast people can listen to, and it's all about
20:52
Speaker 5: the pro crypto policies of the president. That absolutely is
20:56
Speaker 5: going to be huge. We're going to see, I think,
20:57
Speaker 5: quite frankly, we're going to see a massive bubble in
21:01
Speaker 5: crypto that's going to be completely unsustainable.
21:03
Speaker 3: It's going to be absurd.
21:04
Speaker 5: Okay, lots of scale, lots of scamer's coming out two.
21:08
Speaker 3: Two thousand bitcoli.
21:11
Speaker 2: It's gonna triple to quadruple and which is a great opportunity.
21:16
Speaker 2: So you buy a little bit. Now I don't have
21:19
Speaker 2: a lot, but what I have has gone up fifty percent.
21:24
Speaker 2: I just was buying a little bit every single Sunday
21:28
Speaker 2: and finally I hit my target number and I just stopped.
21:31
Speaker 2: And I did that over the course of like a
21:33
Speaker 2: couple of years, and now I just stopped and I'm
21:35
Speaker 2: just watching it because it hit my target number. Another
21:40
Speaker 2: thing in Grover Cleveland's second term, there was unrest in Hawaii,
21:46
Speaker 2: so he sent an investigator over to look at Hawaii.
21:49
Speaker 3: And guess what he found out. Our investigator.
21:52
Speaker 2: You're going to love this, because we forget about history,
21:55
Speaker 2: especially our own. He found that there had been a
21:59
Speaker 2: coup of the ruling queen, the queen of the uh
22:03
Speaker 2: Hawaiian the Polynesian tribes there that was backed to improperly
22:08
Speaker 2: by the United States. I mean, the stuff never gets old, Jerry,
22:14
Speaker 2: it does.
22:14
Speaker 5: And it reminds me of Stephen Kinzer, who we've had
22:17
Speaker 5: on the on the Pole my packcast a few times.
22:19
Speaker 3: I don't know if you've had Stephen Kinzer on before.
22:20
Speaker 4: Now.
22:21
Speaker 3: He wrote a great book. He wrote a break great book.
22:23
Speaker 5: I think it's called Overthrow, where he goes through and
22:26
Speaker 5: he just talks about all of these different episodes, including
22:29
Speaker 5: Hawaii in the late eighteen or the late nineteenth century
22:33
Speaker 5: in Iran and you know, all of these different things.
22:35
Speaker 5: What a great book and what a great what a
22:37
Speaker 5: great guy who's really exposed a lot of that. You know,
22:41
Speaker 5: when we think we think about what else a Trump
22:45
Speaker 5: administration might be, what we might see again, look at
22:49
Speaker 5: Day one, you see financials were one of the biggest beneficiaries.
22:54
Speaker 3: Why is that.
22:55
Speaker 5: Well, again, financial corporations like Blackrock and J. P. Morgan,
23:00
Speaker 5: they're always looking for somebody to loosen the regulations, and
23:04
Speaker 5: that's what Trump is going to bring. I mean, here's
23:06
Speaker 5: what we can pretty much know for the next few years.
23:09
Speaker 5: Your taxes are not going to go up very likely.
23:11
Speaker 5: If they do, it's going to be very strange. You're
23:14
Speaker 5: also going to see financial regulation, you know, get dumbed down,
23:18
Speaker 5: and so there's going to be a lot of scams.
23:20
Speaker 5: There's going to be a lot of people getting fleeced
23:21
Speaker 5: by big banks, all kinds of that kind of stuff
23:26
Speaker 5: we're going to see. I think we're going to see
23:28
Speaker 5: some of the biggest bubbles we've seen in tech and
23:30
Speaker 5: an AI because again, when the when you know, what
23:34
Speaker 5: what do they say when the when the wolf's away,
23:36
Speaker 5: the chickens play or whatever, and so you know, the
23:38
Speaker 5: idea is.
23:40
Speaker 3: Play.
23:42
Speaker 5: But you know, you know this idea that that you know,
23:44
Speaker 5: the cops kind of off the beat for the next
23:46
Speaker 5: four years, and so all of those industry we were paying.
23:50
Speaker 2: Off anyway, yes, taking off a few hundred Bucks a
23:54
Speaker 2: week and a the Scotch and a box of cigars
23:59
Speaker 2: for Rismiss, he's now totally off the beat.
24:03
Speaker 5: Yes, And there are two industries that I personally don't
24:07
Speaker 5: invest in. I just I just have a moral situation
24:11
Speaker 5: whereas I don't want to invest in them.
24:12
Speaker 3: But they include, uh, you know.
24:14
Speaker 5: The military industrial complex, which I think is going to
24:17
Speaker 5: do great under Trump, just as it did last time.
24:19
Speaker 5: So I think that's going to do great because again
24:21
Speaker 5: we're not going to touch them, We're going to we're
24:23
Speaker 5: going to find other places to cut. And then also
24:26
Speaker 5: the private prison complex, which again I despise, but nonetheless
24:32
Speaker 5: we've already seen those kinds of stocks really accelerate. The
24:35
Speaker 5: other thing that I think we'll see do well or in,
24:39
Speaker 5: you know, the industrials. We've already saw the Dow hit record.
24:42
Speaker 5: In fact, the Dow was the best performing index I
24:44
Speaker 5: think on the on election day or in the wake
24:46
Speaker 5: of even more than the Nasdaq, even more than the
24:50
Speaker 5: S and P. And a lot of that had to
24:52
Speaker 5: do with companies like New Core or Domestic Steel. So
24:56
Speaker 5: I think, you know, I think these steel companies, there's
24:59
Speaker 5: a lot of industrial copanies are going to do well,
25:00
Speaker 5: I think it's going to see a lot. What's going
25:02
Speaker 5: to fail, what's not going to do well well. The
25:04
Speaker 5: first one that comes to mind is clean energy. Clean
25:07
Speaker 5: energy got hammered whenever we saw the election results. Yes,
25:11
Speaker 5: clean clean energy is a space that I've long hoped
25:14
Speaker 5: to see succeed and it is succeeding. But you know,
25:17
Speaker 5: with all kinds of red tape and then a mess,
25:20
Speaker 5: it's a total mess. And then the other one that
25:23
Speaker 5: that at first I when I when when I first
25:26
Speaker 5: saw the election results, I thought, I thought about cannabis,
25:30
Speaker 5: and I thought, you know, that's been a tough market.
25:33
Speaker 3: Uh, been very tough market. That's that's to say the least.
25:37
Speaker 5: Uh. And But I but I also was thinking about
25:40
Speaker 5: it yesterday and I recalled somebody actually brought this my
25:43
Speaker 5: attention that RFK Junior, who Trump has been saying, hey,
25:48
Speaker 5: I'm going to let him loose on our healthcare system,
25:52
Speaker 5: has been very pro cannabis. So and and Trump is
25:57
Speaker 5: also hinted that way. So many people right now you
26:00
Speaker 5: see cannabis stocks, they've been hammered. I'm wondering if that's overdone,
26:04
Speaker 5: and the fear there might be a little too extreme
26:07
Speaker 5: because I'm of the opinion that we've almost got this
26:10
Speaker 5: cannabis thing to a bipartisan solution where we might actually
26:14
Speaker 5: see just a federal tax upon it, and then they
26:17
Speaker 5: just say medical is fine. I can see why recreational
26:21
Speaker 5: might be a problem. You know, I live in Arkansas,
26:24
Speaker 5: and they have medical cannabis here, and I like the
26:27
Speaker 5: way they do it here, Carrie. When I go to
26:30
Speaker 5: other states like Oklahoma, it's like billboards everywhere. You know,
26:33
Speaker 5: it's pretty crass, and you know, when your kids are
26:36
Speaker 5: seeing it, you're like, I don't know, I don't know
26:37
Speaker 5: if I really want this. But when in Arkansas, everything's
26:40
Speaker 5: low profile. There's no billboards that I recall seeing. It's
26:44
Speaker 5: very low profile, the signs are small. So think I
26:48
Speaker 5: think there's a right way and a wrong way to
26:49
Speaker 5: do this, And I think eventually we'll get to a
26:51
Speaker 5: place where the federal government's going to bless medical cannabis
26:56
Speaker 5: and just have a federal tax and just leave it
26:58
Speaker 5: at that and then let states decide on the recreational side.
27:01
Speaker 5: I think that's probably what's going to happen, and I
27:03
Speaker 5: don't think we're too far off from that. So I
27:05
Speaker 5: think there's some opportunity in the cannabis space. Yeah, that's
27:08
Speaker 5: that is the best way.
27:09
Speaker 2: If Florida just turned down the proposition for recreational and I.
27:14
Speaker 5: Think that was the right move. I personally, you don't
27:17
Speaker 5: want to become a tourist state for this stuff. You know,
27:19
Speaker 5: it's it's.
27:22
Speaker 3: Right.
27:22
Speaker 5: You go to Nevada, you can go to you know,
27:25
Speaker 5: Colorado became early. You know, the kind of the tourist state.
27:28
Speaker 5: These these states are ready for that. Let them handle it,
27:31
Speaker 5: you know, in your local state. I think medical is
27:34
Speaker 5: a fine solution for people who need it. It's better
27:37
Speaker 5: than opioids, you know.
27:38
Speaker 3: Yeah.
27:38
Speaker 2: The problem with the recreational is that once they legalize it,
27:43
Speaker 2: people just do it out.
27:44
Speaker 3: In the open.
27:45
Speaker 2: And yeah, cities that are just a cloud of marijuana smoke. Yes, Seattle,
27:49
Speaker 2: like Denver, like New York City hasn't exactly been implemented
27:55
Speaker 2: the legalization.
27:56
Speaker 3: That's the fact.
27:56
Speaker 2: The legalized and any scheme should have severe penalties for
28:02
Speaker 2: people doing it out in the open, all right. It
28:05
Speaker 2: should be in the privacy of your own home or indoors,
28:10
Speaker 2: not outdoors. And any public intoxication we need to up with.
28:16
Speaker 2: We already have a lot of enough statutes for ever.
28:19
Speaker 2: All right, you can't be in public intoxicated.
28:23
Speaker 3: That is agreed. Yeah, I feel the same way.
28:27
Speaker 5: So I really like the medical cannabis laws that we
28:30
Speaker 5: see here. Like I said, I said in Arkansas, they've
28:33
Speaker 5: kind of fumbled it quite a bit here.
28:34
Speaker 3: They took them forever to roll it out.
28:35
Speaker 5: But the way they've done it so far, I've been
28:38
Speaker 5: pretty impressed with it, especially as I go to other
28:39
Speaker 5: states and see how they've handled it. I think the
28:42
Speaker 5: longer term solution for this is a medical cannabis solution
28:46
Speaker 5: that's blessed by the federal government. Pay us our federal taxes,
28:50
Speaker 5: the tribute recre yet to pay us a tribute recreational.
28:54
Speaker 5: You want to do that, that's up to the states.
28:55
Speaker 5: They can decide if they want to do that, but
28:58
Speaker 5: medical should be the federal mentioned. Just leave it alone
29:01
Speaker 5: and move on and deschedule this thing, or reschedule it.
29:05
Speaker 2: You know, it's time to rethink the whole drug thing. Addiction,
29:09
Speaker 2: both for alcohol and for drugs, make it hit a
29:13
Speaker 2: public health issue, not a criminal justice thing. Everybody who's homeless,
29:18
Speaker 2: who's a drug addict or an alcoholic eventually winds up
29:22
Speaker 2: in jail. They will since they have to steal the
29:24
Speaker 2: support their habit, steal to buy their alcohol, and eventually
29:29
Speaker 2: they wind up being treated in jail. And that is
29:32
Speaker 2: the worst therapeutic environment for somebody who's really mentally ill
29:37
Speaker 2: and needs help. Not confinement where they might need confinement,
29:41
Speaker 2: but not inhumane punitive confinement. They need rehabilitative confinement. Yes, absolutely,
29:49
Speaker 2: they need to be restored and rehabilitated and not treated
29:52
Speaker 2: like a you know, a murderer or something along these lines.
29:55
Speaker 2: All right, Jerry, so he's great. Catching up with you,
29:58
Speaker 2: been too long, Will catch up with again soon. Follow
30:02
Speaker 2: the Money dot com. That's the website. Questions comments for
30:05
Speaker 2: Jerry myself kl at krieluts dot com. You'll find a
30:09
Speaker 2: link to the show notes in the show notes of
30:11
Speaker 2: this interview on Financial Survival Network dot com.
30:15
Speaker 3: To Jerry's site. Jerry, We'll talk to you and soon
30:18
Speaker 3: be well.
30:19
Speaker 4: Thank you so much, thanks for listening to Carrie Letz's
30:22
Speaker 4: Financial Survival Network, your solution to today's trying times. For
30:27
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30:32
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30:33
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