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Wells Fargo CEO Warns of MAJOR CRASH | Got Bitcoin? | Bitcoin Simply · Simply Bitcoin

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  The Wells Fargo chairman and CEO just warned the United States is
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  due for a crash and that the next major crash is imminent
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  because of our dollar and our debt problems.
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  But like any banker, he doesn't provide meaningful solutions.
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  Meanwhile, A BlackRock executive just went on Fox Business and
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  said that Bitcoin is a geopolitical and inflation
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  hedge, $12 trillion. Asset manager Charles Schwab
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  just said that Bitcoin deserves a place in your portfolio.
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  And they just educated 40 million of their clients about
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  Bitcoin. It's the rest of the world
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  finally waking up to the fact that Bitcoin is the only way out
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  of this mess and that the government isn't going to save
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  you. Today we cover why Bitcoin
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  deserves a place in your portfolio, why the geopolitical
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  toothpaste will never go back in the tube.
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  We also cover what the Wall Street execs got right and wrong
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  about Bitcoin in your portfolio and why you shouldn't trust Wall
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  Street. This is Dante Coco Bitcoin.
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  Simply let's go. Huge news that isn't being
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  covered right now. the US Treasury just made three massive
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  liquidity injections in the same week. the Fed injected $5
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  billion in the markets before they open.
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  Last week, the Treasury released $90 billion to the general
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  account and they just issued the largest debt buyback in history
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  at $15 billion. It used to be that governments
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  didn't inject this much liquidity unless there was
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  something major about to happen, unless something broke.
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  But now this is just regular. This is a signpost of system
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  that we live in doesn't work anymore, and This is why Wells
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  Fargo CEO and Chairman Charlie Scharf just said that the United
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  States economy is due for a massive correction.
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  Biggest problem the United states is facing now in the
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  financial service world, the biggest problem that banks have
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  or financial services well, it's.
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  Separated into kind of, you know, two different periods,
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  right? Number one is we have
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  uncertainty with what's going on with the Iran conflict.
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  The markets, it's been a bull market for a long time.
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  There's a huge amount of liquidity in the system.
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  There is this, there's this underlying current that things
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  are going to be fine for a long period of time.
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  I hate to sound like an old person, but there are a lot of
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  people in the financial services space, in banks and outside of
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  banks that have never been through cycles, like a real
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  cycle in terms of what that means.
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  And there's a point in which that's going to turn, and that's
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  going to have a whole bunch of impacts that I'm not sure we all
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  really understand. You know, Lloyd Blankfein always
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  says, you know, you can think all you want, and you have to
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  think about these things. It's usually something that you
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  didn't expect, so something's going to happen, but then more
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  long term it's just the question of the deficit.
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  This guy is the CEO of one of the two big to fail banks and
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  he's sending us a message. He talks about conflict, crisis,
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  where our deficit is. And this is something that Wall
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  Street used to just gloss over. This is something that even they
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  can't deny anymore. And This is why firms like
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  BlackRock believe that we are structurally going to see the
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  next decade of more geopolitical crisis and inflation, and why
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  Bitcoin deserves a place in your portfolio.
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  Deficit BlackRock J Jacobs OK, first establish your long term
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  view of crypto. Well, Bitcoin in particular is
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  this non, you know, non sovereign global decentralized
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  asset that can really provide value to people's portfolios in
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  small doses as a unique asset, sort of like how gold doesn't
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  behave like stocks or bonds. Bitcoin is driven by its own
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  rules and its own drivers predominantly which is greater
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  geopolitical or inflation risk. And frankly, we live in a world
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  where these are prevalent risks around the economy where people
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  want to hedge that with different assets.
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  Isn't that interesting? It used to be fringe and now
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  thanks very much in part to Larry Fink, your boss and I
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  shares coming out with the I bit.
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  This is more than two years ago now that it really became this
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  opportunity for people to understand it.
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  Are you saying now that Bitcoin and crypto are long term
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  investments? I think you have to look at it
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  through a long term lens because it's volatile, because we see
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  over weeks, months, it can be up and down.
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  People are still trying to figure out what the, you know,
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  what the value of this asset is, but if you zoom out and take a
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  long term view of the role it can play in a portfolio, it can
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  really be one of those diversifiers that behaves unique
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  from stocks and bonds. When somebody who is Bitcoin
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  curious comes out and says to you, Jay, what is the value?
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  One minute in October it's 126,000, Today it's 76,000.
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  You have to look at it in the context of a broader portfolio.
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  We can't put a specific price target on it on a given moment.
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  It really has to do with how much do people need this asset
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  that can behave uniquely, that can be a geopolitical hedge
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  that's constantly changing around the world.
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  When you see, you know, more currency debasement, when you
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  see rising government debts, when you see that more people
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  want to move assets across borders, that's going to
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  increase the value of something like Bitcoin.
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  And so in this world, we see that as a structural trend
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  that's growing. But minute by minute, that
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  demand and supply is going to change.
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  OK, since a lot of Bitcoin curious people do watch this
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  show, let me help you to understand a couple things.
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  What is the value of your home? What is the value of the dollars
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  that you used to purchase your home?
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  Well, your parents probably bought your childhood home if
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  you were fortunate enough to have parents that were able to
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  do that for a few $100,000, not half $1,000,000.
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  But they don't ask these sort of questions about other asset
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  classes. Jay Jacob says that Bitcoin is a
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  global decentralized, non sovereign asset that operates
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  underneath of its own rules that gains value in geopolitical
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  crisis in times when you need an inflation hedge.
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  But you have to notice the leading questions from the
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  interviewer. People conflate volatility with
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  risk. The value of your dollar only
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  goes in One Direction, which is down in terms of purchasing
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  power. Is that volatile?
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  No. Is it risky?
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  Absolutely. When the cost of retirement is
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  rising? When health care costs are
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  rising? When your property taxes are
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  rising? When your insurance costs are
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  rising? When your gas costs are rising,
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  yet you live on fixed instrument because you're a retirement
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  person? Is that volatile?
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  No. But it's risky every single day
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  that we move forward with higher costs and a fixed income.
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  This is the dilemma that Wall Street has with Bitcoin is that
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  it's volatile. They conflate volatility with
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  risk, but they're not the same thing.
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  And even though Charles Schwab is doing their best to educate
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  40 million of their clients about Bitcoin, even they get
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  this wrong. Because they're so volatile,
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  even small amounts could translate to much larger levels
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  of risk. Let's look at a quick
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  hypothetical example using Bitcoin.
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  Theoretical investor with a moderate risk appetite might
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  split a traditional portfolio 6040 sixty percent stocks and
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  40% bonds. Stocks consist of almost 100% of
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  the risk in that portfolio because they're far more
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  volatile. If that investor decides to add
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  an even more unruly asset like Bitcoin, they might only want
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  Bitcoin to make up 10% of the portfolio's risk.
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  According to the Schwab Center for Financial Research, that
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  investor might want to invest no more than 2.7% of their total
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  portfolio in Bitcoin. An aggressive investor say they
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  typically put 96% of their portfolio in stocks might be
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  comfortable with 20% of the portfolio's risk in Bitcoin.
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  That would translate to an allocation of just under 7%.
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  Other cryptocurrencies like ether are more volatile than
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  Bitcoin, so you may want to consider investing even less.
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  It's a bit non traditional to think about it from a risk
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  perspective rather than an overall portfolio percent
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  perspective. Bitcoins volatility means it has
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  an outsized risk. It's an exponential
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  relationship, so small increases in Bitcoin holdings can lead to
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  larger increases in overall risk exposure.
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  Let me give you a scenario why this thinking is wrong.
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  AI is volatile, it changes all the time.
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  It's growing so fast, it's rapidly disrupting industries.
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  But does that mean that you shouldn't try to learn it and
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  you shouldn't try to understand it?
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  Do you think that that presents risk to your career and to your
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  portfolio? What about ecommerce?
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  What about the cloud? What about mobile?
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  What about the Internet? All of those things were
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  volatile, but not investing in those meant that you didn't keep
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  up with the Joneses and that your portfolio didn't outpace
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  inflation. What about being overweight in
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  asset class, like bonds? That he talks about a
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  traditional 6040 portfolio. Well, bonds have produced
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  negative real returns when factoring in inflation over the
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  past decade. Bonds have lost you money in
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  purchasing power, so you want 40% of your portfolio there.
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  If you have a long time to invest, you should be thinking
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  about sharp ratio, which is for every dollar I invest, how much
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  return do I get for the amount of risk that I take?
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  That's why I love this chart from strategy.
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  On their website, they show you that Bitcoin has roughly the
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  same sharp ratio as the S&P 500, meaning that this Bitcoin is too
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  volatile for your portfolio, but yet the market is fine.
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  It's completely overplayed by Charles Schwab.
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  Understand the difference between volatility and risk.
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  One of the riskiest things that you can do is not understanding
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  that you don't sell assets that go up in value relative to other
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  assets. The wealthiest people in the
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  world never sell their assets. They hold on to real estate.
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  They hold on to stocks, precious metals, gold, jewelry.
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  You can do the same thing if you've been stacking Bitcoin.
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  You don't need to sell your Bitcoin.
• 9:13
  You can borrow from a company like Leaden, which allows you to
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  unlock liquidity from your Bitcoin without selling your
• 9:18
  Bitcoin with no taxes. The application takes just two
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  minutes and you can have Fiat in your account in less than six
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  hours. They've issued over $10 billion
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  worth of loans to individuals like you and me all across the
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  globe since 2018, and they've never lost a single cent or set
• 9:33
  of customer money. There's no credit checks to get
• 9:36
  started. And remember, you stay sovereign
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  because you still own your Bitcoin.
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  Go to learn dot letting dot AO slash simply to get started.
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  One of the other things you can continue to do to stay sovereign
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  is by being secure, by knowing that you own the assets, your
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  Bitcoin safely, securely and confidently.
• 9:52
  You can do that by getting a coach at the Bitcoin way.
• 9:55
  Even if you've already set up your own node, your own privacy
• 9:58
  setup, taking your own keys, done multi segment in
• 10:00
  collaborative custody. Well, you can just have a
• 10:03
  meeting with their team just to make sure that you're doing
• 10:05
  things the right way to bounce some ideas off of them, send
• 10:09
  some transactions. That's what their team is there
• 10:11
  for, to help you to understand how to manage your Bitcoin and
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  your Bitcoin in the safest, most confident way possible.
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  A free meeting with the team at the bitcoinway.com/partner/dante
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  Dash Cook. OK, you know what's risky?
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  Putting your trust in the government to save you. the US
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  Supreme Court just ruled that the administration's rulings and
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  dealings with the US tariffs was illegal.
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  They have to return $160 billion worth of tariffs back to
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  companies. But none of that is going back
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  to you. Somehow there are people in the
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  administration, namely the Lutnicks, who profited from this
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  handsomely. They were buying call options on
• 10:44
  the fact that the Supreme Court would rule against this
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  administration for 20 to $0.30 on the dollar.
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  There's a party that's always happening that you're not
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  invited to. This government, in any
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  government is not here to save you.
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  You know, it's risky putting your trust in a system that has
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  to borrow against itself in order to sustain its debts.
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  Listen to this master class from Rand Paul.
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  In government, it's not good to really borrow money for your
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  daily expenses. So we bring in about $5 trillion
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  in taxes, but we spend about $7 trillion in spending, so we
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  spend $2 trillion we don't have. The equivalent would be you
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  borrowing money to pay your rent or having a home mortgage.
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  And let's say your your mortgage payment is $700.00 a month, but
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  then you borrow more money from your credit card to pay your
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  mortgage. Nobody does that because it
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  doesn't end well and a country shouldn't do it either.
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  Now, we've done it for a long time because we're lucky. the
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  United States is the, you know, the the biggest player on the
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  block. You know, we have the strongest
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  currency. We are called the world's
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  reserve currency. So we've been able to borrow
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  money for a long time. But I think the day grows closer
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  when all this borrowing will, you know, could lead to our
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  demise or could lead to a crisis in our country.
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  So borrowing 2 trillion a day, we have to sell that debt.
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  Sometimes the American people buy it.
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  So people are invested in Treasury bills or bonds.
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  About a third of them are Americans, about a third of them
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  are foreigners. So we actually sell a lot of our
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  debt to China and to other countries that we sell more
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  goods to. We buy them with dollars.
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  They take those dollars and they buy our debt.
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  And then about a third of our debt is bought by the Federal
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  Reserve. That debt that is bought by the
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  Federal Reserve, you say, well, that can't be that bad, right?
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  Well, it's bought with newly created money.
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  The Federal Reserve simply prints up the money and then
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  they buy our debt. Well, when they print up new
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  money, it devalues the money that's in your pocket.
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  Imagine that the all of the currency was a $1,000,000 in the
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  country, and if the Federal Reserve created a million new
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  notes and put them into circulation, eventually the
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  marketplace figures this out and everything cost twice as much.
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  Or in other words, your dollar is half as valuable.
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  So inflation doesn't really work to make you richer, it actually
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  works to make you poor. You know who's trying to de risk
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  themselves against the US dollar hedge of money across the globe?
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  China. And just last month they
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  imported more silver than any country has in the history of
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  the world. Look at that chart.
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  The geopolitical chaos is not going anywhere anytime soon.
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  You have to understand where you are and why Bitcoin protects
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  you. You have to understand the
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  difference between volatility and risk.
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  What's a sharp ratio? Just by holding more Bitcoin in
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  your portfolio doesn't make your portfolio more risky.
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  You have to position yourself for more uncertainty because
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  through 2030, there's certainly going to be more uncertainty in
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  markets. And if you listen to channels
• 13:39
  like these, you're going to be prepared.
• 13:42
  Subscribe to the channel if you already haven't, and send these
• 13:45
  kinds of episodes to Bitcoin curious people so they can learn
• 13:47
  the difference between volatility and risk when they
• 13:49
  hear that Bitcoin is risky. This is Dante Coke with Bitcoin
• 13:52
  simply. And if you haven't already
• 13:54
  started sacking through SAS mining or through Bitcoin
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  mining, you're missing out. Use the QR code to get started
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  with SAS Mining to help you to buy a Bitcoin miner, plug it
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  into 100% clean, free renewable energy and send SAS directly to
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  your wallet. They do all the repairs, all the
• 14:09
  maintenance, you just get Bitcoin.
• 14:11
  Use the QR code on the screen to get started.
• 14:13
  This is Dante Cook with Bitcoin. Simply happy stacking.