1 00:00:00,000 --> 00:00:09,960 You've had a dynamic where money has become freer than free. 2 00:00:10,800 --> 00:00:15,720 If you talk about a Fed just gone nuts, all the central banks going nuts. 3 00:00:16,320 --> 00:00:17,920 So it's all acting like safe haven. 4 00:00:18,460 --> 00:00:23,520 I believe that in a world where central bankers are tripping over themselves to devalue their 5 00:00:23,520 --> 00:00:28,500 currency, Bitcoin wins. In the world of fiat currencies, Bitcoin is the victor. 6 00:00:28,500 --> 00:00:31,400 I mean, that's part of the bull case for Bitcoin. 7 00:00:31,820 --> 00:00:34,260 If you're not paying attention, you probably should be. 8 00:00:37,420 --> 00:00:42,000 Gerald, I'm bummed we only have 20 minutes, but let's make the most of it. 9 00:00:42,080 --> 00:00:42,700 Welcome to the show. 10 00:00:43,200 --> 00:00:44,220 Oh, thanks for having me. 11 00:00:45,120 --> 00:00:51,620 Like I was saying, I was just catching up on some recent interviews you've had in the last couple of months, 12 00:00:51,620 --> 00:00:53,200 most recently with Clayton Morris. 13 00:00:53,860 --> 00:00:56,080 And I think just jumping off since we have 20 minutes, 14 00:00:56,080 --> 00:01:11,500 I think we could talk about Bitcoin and crypto on the back half, but something I've actually been paying attention to, which you mentioned on that show, was the aftermath of COVID stimulus, and particularly with commercial real estate, real estate markets broadly, and the exposure that banks have. 15 00:01:11,740 --> 00:01:14,600 How's that looking as we're halfway through the year right now? 16 00:01:16,060 --> 00:01:19,760 Actually, we have an article in this week's Trends Journal. 17 00:01:20,160 --> 00:01:24,980 And then if you go to TrendsJournal.com, you'll see them. 18 00:01:24,980 --> 00:01:30,980 And Europe's commercial real estate market is still in the doldrums. 19 00:01:33,660 --> 00:01:35,960 You've got to look at the data. 20 00:01:36,760 --> 00:01:37,520 Let's go back. 21 00:01:38,180 --> 00:01:39,980 You go to Castle Systems with a K. 22 00:01:41,300 --> 00:01:44,100 Look at the office occupancy rate in the United States. 23 00:01:45,280 --> 00:01:47,380 It's about 49.7%. 24 00:01:47,380 --> 00:01:50,940 Everything changed after COVID. 25 00:01:50,940 --> 00:01:53,500 Look at the office vacancy rate. 26 00:01:53,500 --> 00:01:55,760 before COVID 27 00:01:55,760 --> 00:01:58,940 2019 it was around 11.4% 28 00:01:58,940 --> 00:02:00,300 now it's around 29 00:02:00,300 --> 00:02:01,100 20% 30 00:02:01,100 --> 00:02:04,560 again you only 31 00:02:04,560 --> 00:02:06,340 have a 49% office 32 00:02:06,340 --> 00:02:08,160 occupancy rate so here's the deal 33 00:02:08,160 --> 00:02:10,440 when they launched 34 00:02:10,440 --> 00:02:11,280 the COVID war 35 00:02:11,280 --> 00:02:13,800 and remember don't forget 36 00:02:13,800 --> 00:02:16,420 COVID's going on so every time 37 00:02:16,420 --> 00:02:18,480 you masturbate you better sanitize your hands 38 00:02:18,480 --> 00:02:19,800 remember all the crap they made up 39 00:02:19,800 --> 00:02:22,540 and when you're 40 00:02:22,540 --> 00:02:23,180 outside 41 00:02:23,180 --> 00:02:28,880 stand six feet apart because the wind blows exactly in straight lines inside, outside, 42 00:02:29,180 --> 00:02:34,860 six feet. And when you go into a restaurant, you better put that mask on. All right. I'm your 43 00:02:34,860 --> 00:02:40,240 politician. I'll tell you what to do. But when you sit down and eat, you can take the mask off 44 00:02:40,240 --> 00:02:44,460 because COVID knows that you're sitting down and eating and it doesn't go to that level. 45 00:02:44,460 --> 00:02:50,920 All right. This is the crap they made up. They scared the hell out of all the morons who swallow 46 00:02:50,920 --> 00:02:54,360 political crap. So you can't go to work. 47 00:02:54,760 --> 00:02:58,980 Work out of your house. Okay. So now, people are 48 00:02:58,980 --> 00:03:02,820 working out of their house week after week, month after month, 49 00:03:02,920 --> 00:03:06,900 year after year. And they're saying to themselves, I've been 50 00:03:06,900 --> 00:03:10,900 getting up at 5.30 in the morning and driving an hour and a half 51 00:03:10,900 --> 00:03:13,960 on the LIE to go into New York City. 52 00:03:15,340 --> 00:03:18,340 I've been on the subway a night in Calcutta. 53 00:03:18,340 --> 00:03:20,740 I'm not doing that 54 00:03:20,740 --> 00:03:23,420 now I'm getting up at 55 00:03:23,420 --> 00:03:25,740 7 o'clock in the morning 56 00:03:25,740 --> 00:03:27,680 and having breakfast 57 00:03:27,680 --> 00:03:29,900 and I zoom on to work 58 00:03:29,900 --> 00:03:32,120 now I'm the guy that has 59 00:03:32,120 --> 00:03:33,880 let's say 10 floors 60 00:03:33,880 --> 00:03:34,440 in a building 61 00:03:34,440 --> 00:03:37,980 I don't see these people 62 00:03:37,980 --> 00:03:39,440 anyway, they're in these cubicles 63 00:03:39,440 --> 00:03:41,940 you stay long 64 00:03:41,940 --> 00:03:43,860 I don't need all this office space 65 00:03:43,860 --> 00:03:44,880 I don't have to spend the money 66 00:03:44,880 --> 00:03:47,920 so now this is 5 years 67 00:03:47,920 --> 00:03:51,820 later, the leases are coming due. You had five and ten year leases. 68 00:03:52,820 --> 00:03:56,020 The leases are coming due and they're not renewing like they used to. 69 00:03:57,540 --> 00:03:59,900 You got a number of the banksters trying to force 70 00:03:59,900 --> 00:04:02,580 people to come back into work five days a week. 71 00:04:04,240 --> 00:04:07,420 Because they're losing the dough. Let's go back to 2023. 72 00:04:08,060 --> 00:04:10,900 Three banks failed. Signature, 73 00:04:11,760 --> 00:04:15,380 First Republic, and Silicon Man Valley Bank. 74 00:04:15,380 --> 00:04:20,440 Three banks. Down went the equity markets and up went gold prices. 75 00:04:21,240 --> 00:04:26,140 That was three banks. You're going to start seeing a lot of defaults on loans. 76 00:04:27,320 --> 00:04:31,720 Big time. And the crap that they're spewing out. 77 00:04:32,120 --> 00:04:36,540 Well, we're going to convert these buildings to condos and apartments, right? 78 00:04:37,860 --> 00:04:41,680 No, you're not. Buildings built within the last 50 years, they're not convertible. 79 00:04:41,680 --> 00:04:43,220 The big empty spaces. 80 00:04:44,240 --> 00:04:45,800 Let's go back to 2024. 81 00:04:47,520 --> 00:04:49,160 Midtown Manhattan, 50th Street. 82 00:04:50,600 --> 00:04:56,880 A building that sold for over $300 million. 83 00:05:00,020 --> 00:05:04,060 In 2006, went up for auction. 84 00:05:05,920 --> 00:05:08,080 They sold it for $8.5 million. 85 00:05:09,200 --> 00:05:11,520 They got to knock the thing down and rebuild something they could use. 86 00:05:11,680 --> 00:05:15,660 So there's going to be a banks go bust an office building bus. 87 00:05:16,420 --> 00:05:20,440 Commercial real estate is, again, the facts are there. 88 00:05:22,180 --> 00:05:28,580 And the facts are showing that warehouses, 89 00:05:29,820 --> 00:05:31,080 out of last week's Trans Journal, 90 00:05:32,020 --> 00:05:33,440 if they can see rate is rising. 91 00:05:33,920 --> 00:05:36,680 When COVID happened, they started warehousing, 92 00:05:36,860 --> 00:05:38,160 bringing all those products in. 93 00:05:38,160 --> 00:05:38,940 Remember those days? 94 00:05:39,900 --> 00:05:42,640 So there's going to be commercial real estate bust. 95 00:05:43,100 --> 00:05:48,900 And again, the big thing that's going to go down are these office buildings. 96 00:05:49,600 --> 00:05:52,780 And they're going to be defaults on loans one after another. 97 00:05:52,980 --> 00:05:55,480 And that's going to bring down much of the banking system. 98 00:05:56,760 --> 00:06:06,600 Yeah, I think I saw a headline this week, two buildings alone in Denver that went for over $100 million, I believe, in 2019, just sold for $3.2 million collectively. 99 00:06:07,560 --> 00:06:07,600 Yeah. 100 00:06:07,600 --> 00:06:13,260 And the mainstream media is barely reporting on this. 101 00:06:13,820 --> 00:06:14,960 Barely reporting on it. 102 00:06:15,500 --> 00:06:19,600 The question I have is like how much exposure do the banks have versus private lenders? 103 00:06:20,140 --> 00:06:21,080 Mostly the banks. 104 00:06:21,780 --> 00:06:24,200 You're pushing it into private lenders now. 105 00:06:24,840 --> 00:06:29,600 But it's mostly the banks and it's mostly small and medium-sized banks that have the majority. 106 00:06:31,500 --> 00:06:32,760 Yeah, which is great. 107 00:06:32,820 --> 00:06:34,520 So more consolidation in the banking sector. 108 00:06:34,520 --> 00:06:40,140 Do you think this is part of the reason why Trump's berating Powell to lower rates? 109 00:06:40,140 --> 00:06:54,310 He can sort of see the writing on the wall or is one variable of the writing on the wall berating in the lower rates to create some sort of liquidity injection to stave off the bleeding Or is it a lost cause at this point 110 00:06:55,290 --> 00:06:56,510 No, it's not a lost cause. 111 00:06:56,630 --> 00:06:58,910 And he'll do everything he can to prop the markets up. 112 00:06:59,530 --> 00:07:02,270 Because that's he's invested in, you know, and it's his game. 113 00:07:03,110 --> 00:07:05,910 And the team, you know, they're all, it's the, 114 00:07:07,410 --> 00:07:09,790 yeah, it's just running the country, you know, the corporations. 115 00:07:10,470 --> 00:07:11,710 So they'll do everything he can. 116 00:07:11,710 --> 00:07:17,690 And again, when people think that he doesn't have power over Jerome Powell, the Fed head, they better grow up. 117 00:07:17,870 --> 00:07:19,850 Again, we only put the facts in the Trends Journal. 118 00:07:20,150 --> 00:07:21,390 Let's go back to 2018. 119 00:07:22,970 --> 00:07:25,890 The Dow had its worst December since the Great Depression. 120 00:07:27,650 --> 00:07:28,730 What did Trump do? 121 00:07:29,730 --> 00:07:30,590 Calls in Powell. 122 00:07:31,650 --> 00:07:34,970 January 2019, lowers interest rates. 123 00:07:35,410 --> 00:07:35,950 What happened? 124 00:07:36,490 --> 00:07:38,910 The Dow went up 22% that year. 125 00:07:38,910 --> 00:07:43,030 so he's going to do everything he can to prop it up now going back 126 00:07:43,030 --> 00:07:46,470 the lower interest rates fall the deeper the dollar falls 127 00:07:46,470 --> 00:07:50,770 the deeper the dollar falls the higher gold prices go gold is dollar based 128 00:07:50,770 --> 00:07:54,710 so as other currencies go up it's cheaper to buy gold from other countries 129 00:07:54,710 --> 00:07:57,510 and number two 130 00:07:57,510 --> 00:08:00,690 it's the beginning of the death of the dollar 131 00:08:00,690 --> 00:08:05,110 much of the world has had enough of the United States 132 00:08:05,110 --> 00:08:06,970 geopolitical and economic hegemony 133 00:08:06,970 --> 00:08:09,950 so this is going to bring down the dollar 134 00:08:09,950 --> 00:08:11,570 and again the facts are all there 135 00:08:11,570 --> 00:08:14,510 the dollar has had its worst year 136 00:08:14,510 --> 00:08:16,490 this year so far 137 00:08:16,490 --> 00:08:18,350 since 1973 138 00:08:18,350 --> 00:08:20,450 what happened in 1973 139 00:08:20,450 --> 00:08:21,870 oh 140 00:08:21,870 --> 00:08:24,230 it took us off the gold standard 141 00:08:24,230 --> 00:08:26,690 oh and what else 142 00:08:26,690 --> 00:08:28,430 oh the Yom Kippur war 143 00:08:28,430 --> 00:08:29,670 where 144 00:08:29,670 --> 00:08:32,830 the Arab nations cut off 145 00:08:32,830 --> 00:08:34,230 oil coming into the west 146 00:08:34,230 --> 00:08:36,250 and 147 00:08:36,250 --> 00:08:40,310 a barrel of Brent crude, the price quadrupled. 148 00:08:42,790 --> 00:08:46,270 1973, we're having the worst year in the dollar since then. 149 00:08:46,910 --> 00:08:49,910 So again, the dollar is going to go down when interest rates go down. 150 00:08:50,250 --> 00:08:53,770 And we believe that Trump is going to do everything he can to lower interest rates. 151 00:08:54,330 --> 00:08:56,410 Again, the markets are propping up. 152 00:08:57,370 --> 00:09:01,070 Now they came out with a deal with the 15% tariff with Japan. 153 00:09:01,730 --> 00:09:03,910 Then, cool, markets went way back up again. 154 00:09:03,910 --> 00:09:06,290 And the S&P, NASDAQ, keep breaking new records. 155 00:09:07,410 --> 00:09:09,290 You know, so he keeps changing his mind. 156 00:09:09,810 --> 00:09:12,710 Hey, we're going to put 145% tariff on China, right? 157 00:09:13,550 --> 00:09:13,850 Yeah. 158 00:09:14,370 --> 00:09:16,350 Well, that's what's like unnerving to me. 159 00:09:16,490 --> 00:09:19,810 Somebody who's been following markets not as long as you, but for my career, 160 00:09:20,170 --> 00:09:25,550 is like this berating to lower rates and inject liquidity when markets are at all-time high. 161 00:09:25,550 --> 00:09:33,310 And you have not only equities at all-time highs, but you have gold, Bitcoin, right below all-time highs. 162 00:09:33,310 --> 00:09:39,310 And is it when you say the beginning of the death of the dollar, how do you see that playing out mechanically? 163 00:09:40,070 --> 00:09:45,410 Do we have an incredible Weimar like melt up in all assets and it's just hold on to anything that's hard? 164 00:09:46,430 --> 00:09:48,130 Well, again, we don't give financial advice. 165 00:09:48,290 --> 00:09:49,890 Gold is number one for us. 166 00:09:50,670 --> 00:09:53,430 And and that's one of the reasons why it's going. 167 00:09:53,830 --> 00:09:55,250 I'm telling you, the world is that enough. 168 00:09:55,690 --> 00:09:57,450 Again, you know, we write the facts. 169 00:09:57,450 --> 00:10:03,210 You know, there's a – this is in this week's Trends Journal. 170 00:10:05,350 --> 00:10:08,510 Go – this isn't it. 171 00:10:08,630 --> 00:10:09,770 Here, is this it? 172 00:10:09,870 --> 00:10:10,070 Yeah. 173 00:10:11,350 --> 00:10:12,230 Yeah, here we go. 174 00:10:14,090 --> 00:10:18,550 On Fox News, the little wallmonger clown boy who couldn't fight his way out of a paper bag, 175 00:10:18,670 --> 00:10:24,030 Lindsey Graham, warned that President Trump will put 100% tariffs on India, China, and Brazil 176 00:10:24,030 --> 00:10:26,110 if they buy oil from Russia. 177 00:10:26,110 --> 00:10:29,290 and that Trump would do, you ready? 178 00:10:29,570 --> 00:10:32,530 A whoop it, a whoop it on your ass. 179 00:10:33,870 --> 00:10:36,610 The little fat, little slobby clown jerk, 180 00:10:36,830 --> 00:10:39,450 little warmonger freak, Lindsey Graham, 181 00:10:39,550 --> 00:10:43,070 that they keep quoting over and over and over and over and over. 182 00:10:43,910 --> 00:10:49,150 He goes on, these three countries account for 80% of Russia's crude exports, 183 00:10:49,470 --> 00:10:51,690 which is helping to fund the Ukraine war. 184 00:10:51,690 --> 00:10:58,670 If they keep buying cheap Russian oil to allow the war to continue, we're going to tear the hell out of you. 185 00:10:59,250 --> 00:11:00,710 And we're going to crush your economy. 186 00:11:01,630 --> 00:11:03,690 Because what you're doing is blood money. 187 00:11:04,130 --> 00:11:05,270 Hey, they got sunk. 188 00:11:05,750 --> 00:11:09,910 How about the blood money that the United States has sent into Ukraine to keep flooding the killing fields? 189 00:11:10,910 --> 00:11:12,010 And you're going to do something? 190 00:11:12,710 --> 00:11:15,570 You can fight your weight of a paper bag, you little clown. 191 00:11:17,050 --> 00:11:20,570 So what I'm saying is you're talking about the death of the dollar. 192 00:11:20,570 --> 00:11:23,010 this is among the reasons why. 193 00:11:24,230 --> 00:11:29,330 Who the hell is this guy to say with China, India, and Japan? 194 00:11:29,650 --> 00:11:30,770 What was the other country? 195 00:11:31,270 --> 00:11:35,210 China, India, and Brazil should do. 196 00:11:35,490 --> 00:11:36,930 Who the hell are you to tell them what to do? 197 00:11:40,350 --> 00:11:41,350 They've had enough. 198 00:11:42,150 --> 00:11:43,070 Yeah, they've had enough. 199 00:11:43,150 --> 00:11:43,690 But what's next? 200 00:11:43,750 --> 00:11:45,150 Do you see it being a BRICS currency? 201 00:11:45,550 --> 00:11:46,690 Do you see going back to a gold standard? 202 00:11:46,690 --> 00:11:48,930 I think it's going to go back to a gold standard. 203 00:11:48,930 --> 00:11:51,310 but then there's the other reality 204 00:11:51,310 --> 00:11:53,310 like it or not 205 00:11:53,310 --> 00:11:55,070 and it's the digital world 206 00:11:55,070 --> 00:11:56,910 I mean China is 207 00:11:56,910 --> 00:11:57,890 CBDC 208 00:11:57,890 --> 00:12:01,170 you don't give cash, you don't give 209 00:12:01,170 --> 00:12:02,990 cards, you put your hand out there 210 00:12:02,990 --> 00:12:05,070 whatever you know and boom 211 00:12:05,070 --> 00:12:06,990 it's the digital yuan 212 00:12:06,990 --> 00:12:09,230 and China's 1.4 213 00:12:09,230 --> 00:12:11,130 billion people, it's the future, they're going to 214 00:12:11,130 --> 00:12:13,110 go digital coins even though they 215 00:12:13,110 --> 00:12:15,070 say with this genius act or whatever it was stupid 216 00:12:15,070 --> 00:12:17,030 they maybe called it, they said 217 00:12:17,030 --> 00:12:18,850 we're not going to go CBDC in America 218 00:12:18,850 --> 00:12:21,890 Yes, we are. The whole world is going digital. 219 00:12:22,850 --> 00:12:26,750 It's digitized. Again, every time I go out now, it's such a pain in the neck. 220 00:12:27,110 --> 00:12:29,910 You go to a bar, people are on their phones, they're talking to you. 221 00:12:30,850 --> 00:12:34,970 You're walking down the street like this. Young people totally digitized. 222 00:12:36,150 --> 00:12:38,730 And so it's going to be a digital world. They're going to make up 223 00:12:38,730 --> 00:12:42,770 something. We've got a new digital coin. It's worth this amount 224 00:12:42,770 --> 00:12:46,150 of money and we just got rid of our debt. 225 00:12:46,150 --> 00:12:52,530 right it'll make up something yeah no it's been refreshing i was living in texas recently moved 226 00:12:52,530 --> 00:12:57,230 back to the philadelphia area where i'm from and spending a lot of time down the jersey shore where 227 00:12:57,230 --> 00:13:02,310 it's a ton of cash only bars and restaurants and it feels good to have to come with cash and not 228 00:13:02,310 --> 00:13:06,670 have to do tap to pay everywhere but to that point like with the genius act so i'm not sure 229 00:13:06,670 --> 00:13:11,290 how much you know about this show but we're bitcoin focus show we've been around for eight 230 00:13:11,290 --> 00:13:15,430 years and that's something we've been warning about as well like stable coins are big theme 231 00:13:15,430 --> 00:13:18,230 and meme right now, the politicians are saying, 232 00:13:18,330 --> 00:13:19,810 we need stablecoin proliferation. 233 00:13:20,130 --> 00:13:22,850 It's going to drive demand for treasury markets. 234 00:13:23,170 --> 00:13:25,470 And as you mentioned, I think it's already been proven 235 00:13:25,470 --> 00:13:27,930 that these stablecoins are hyper-centralized. 236 00:13:28,030 --> 00:13:29,690 They're going to be able to be, 237 00:13:30,550 --> 00:13:40,920 you going to be able to whitelist blacklist prevent people from spending with certain merchants whatever it may be And they sort of marketing it as the anti 238 00:13:40,920 --> 00:13:43,380 when it's just CBDC with a different name 239 00:13:43,380 --> 00:13:45,140 and different sort of cloak. 240 00:13:45,280 --> 00:13:47,840 Whereas I believe, and this show is about Bitcoin, 241 00:13:48,160 --> 00:13:50,120 it is truly distributed, centralized. 242 00:13:50,380 --> 00:13:51,420 Governments can't control it. 243 00:13:51,480 --> 00:13:54,480 So if you're operating in the world of digital currencies, 244 00:13:54,720 --> 00:13:55,660 like Bitcoin is the only thing 245 00:13:55,660 --> 00:13:56,720 you should be paying attention to. 246 00:13:57,380 --> 00:13:59,740 Well, we've been bullish on Bitcoin for nearly a decade. 247 00:13:59,860 --> 00:14:07,400 and then when trump got into office we became very bullish and um you know there's one article 248 00:14:07,400 --> 00:14:11,720 after another in the trends journal about it we'd be going on and on and on again it's not what you 249 00:14:11,720 --> 00:14:15,760 like what you want what you wish for it's what is that we're trend forecasters we don't take 250 00:14:15,760 --> 00:14:21,980 positions on things and say this is good this is bad say this is what it is and here's an article 251 00:14:21,980 --> 00:14:28,600 in this week's Trends Journal on the economic update, and it's called The Trump Card. 252 00:14:29,560 --> 00:14:36,240 The headline on CNBC Monday was, quote, Trump Media Builds $2 Billion Bitcoin Hoard 253 00:14:36,240 --> 00:14:39,200 as Cryptocurrency Swallows President's Net Worth. 254 00:14:39,720 --> 00:14:45,960 They wrote that Trump's media and technology group said Monday that it amassed some $2 billion 255 00:14:45,960 --> 00:14:52,600 dollars in Bitcoin and related assets. And that, quote, President Donald Trump's highly lucrative 256 00:14:52,600 --> 00:14:59,840 pivot to cryptocurrency continues to grow his net worth while in office. So I went back and we said 257 00:14:59,840 --> 00:15:04,520 about, well, he low interest rates. He's interested in making dough. And again, this is the Trump 258 00:15:04,520 --> 00:15:14,140 that back in the day when he was president, he was anti-Bitcoin. But he got over 100 million. 259 00:15:14,140 --> 00:15:15,380 Again, we only go by the facts. 260 00:15:15,480 --> 00:15:19,180 He got over $100 million from the crypto people when he was running for office 261 00:15:19,180 --> 00:15:23,800 and tens of millions of dollars when he got his inauguration. 262 00:15:24,480 --> 00:15:25,200 He's into it. 263 00:15:25,240 --> 00:15:26,340 His family's into it. 264 00:15:26,780 --> 00:15:28,660 His political team's into it. 265 00:15:28,700 --> 00:15:30,160 So the thing's going to keep going up. 266 00:15:31,120 --> 00:15:33,360 And again, you go by what it is. 267 00:15:34,160 --> 00:15:34,400 Yeah. 268 00:15:34,820 --> 00:15:36,460 Some of our past articles. 269 00:15:37,020 --> 00:15:41,620 Trump's family claws deep into cryptos now focuses on Bitcoin mining. 270 00:15:42,340 --> 00:15:47,000 Trump's media company announces plans to raise 2.5 billion to buy crypto. 271 00:15:47,180 --> 00:15:47,980 That was in June. 272 00:15:48,880 --> 00:15:50,120 Again, on and on and on. 273 00:15:51,120 --> 00:15:52,880 So it's going to go up. 274 00:15:53,500 --> 00:15:56,120 And yeah, this is what he said in 2019. 275 00:15:56,800 --> 00:16:02,160 I'm not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly 276 00:16:02,160 --> 00:16:04,180 volatile and based on thin air. 277 00:16:04,180 --> 00:16:09,080 In 2021, he said, Bitcoin just seems like a scam. 278 00:16:09,080 --> 00:16:16,500 so again you know it's we have trend forecasters it's not what you like what you want it's what is 279 00:16:16,500 --> 00:16:23,980 and the what is is that this thing is going to keep exploding and you can see why he likes the 280 00:16:23,980 --> 00:16:30,640 coin but i can't i was gonna say speaking of trends since we only have like five more minutes 281 00:16:30,640 --> 00:16:36,560 left like interested not only bitcoin equities markets maybe residential real estate can scream 282 00:16:36,560 --> 00:16:39,480 Again, if you lower interest rates, inject liquidity. 283 00:16:39,720 --> 00:16:49,600 It seems like we're going back to not an era, but just sort of business as usual in terms of the haves versus the have-nots. 284 00:16:50,320 --> 00:16:54,600 People with assets, the wealth gap really expanding. 285 00:16:54,600 --> 00:17:02,440 And so socially, if we turn it back on turbo, inject all this liquidity, send asset prices screaming, 286 00:17:02,440 --> 00:17:05,940 and you have the common man on the sidelines looking by, 287 00:17:05,940 --> 00:17:08,880 are there any social trends you're looking at 288 00:17:08,880 --> 00:17:12,660 in terms of what the reaction may be to this moving forward? 289 00:17:13,220 --> 00:17:17,020 I call us plantation workers of slavelandia. 290 00:17:18,200 --> 00:17:21,000 And the billionaires run the world. 291 00:17:21,420 --> 00:17:24,640 Again, once upon a time, there was this guy called Mussolini. 292 00:17:25,940 --> 00:17:28,940 The merger of corporate and state powers is called fascism. 293 00:17:29,380 --> 00:17:30,320 That's his definition. 294 00:17:30,320 --> 00:17:36,360 and that's they're in full control and they're going to do everything again they can to build 295 00:17:36,360 --> 00:17:43,500 up the equity markets and the economy and um but again then there's the geopolitical things going 296 00:17:43,500 --> 00:17:50,980 on you know it's with the wars going on the israel war and and uh will they bomb you iran again if 297 00:17:50,980 --> 00:17:55,320 they bomb iran you're going to see what here let's go back to when united states when trump 298 00:17:55,320 --> 00:17:56,860 bombed Iran. When did he do it? 299 00:17:57,520 --> 00:17:59,120 On a Saturday. Friday night. Saturday. 300 00:17:59,480 --> 00:18:01,340 Yeah, right? When the equity markets 301 00:18:01,340 --> 00:18:03,300 were closed. And then what did 302 00:18:03,300 --> 00:18:05,420 he do on Monday? Oh, we got a peace deal. 303 00:18:06,100 --> 00:18:07,340 If he did that on a 304 00:18:07,340 --> 00:18:08,540 Monday and bombed them, 305 00:18:09,600 --> 00:18:11,560 oil prices would have skyrocketed. 306 00:18:13,720 --> 00:18:15,420 So we don't know where this thing is going 307 00:18:15,420 --> 00:18:17,480 to go. And here's 308 00:18:17,480 --> 00:18:19,300 the other thing. We're looking at a dot-com 309 00:18:19,300 --> 00:18:21,180 bust. They've 310 00:18:21,180 --> 00:18:23,380 overinvested. This 311 00:18:23,380 --> 00:18:29,520 is your trends journal when it used to be a quarterly. Now it's a weekly. This week's 200 312 00:18:29,520 --> 00:18:39,720 pages, 202 pages, no ads. Dot-com this. This is fall of 1999. Dot-com overload will short circuit 313 00:18:39,720 --> 00:18:45,140 many high expectations for huge profits in internet commerce, entertainment, and a wide 314 00:18:45,140 --> 00:18:52,180 array of dot-com services. Following the holiday season, many of today's high-flying internet 315 00:18:52,180 --> 00:18:57,800 stocks, the hottest IPOs, and newly emerging IPO wannabes have become their deep descent 316 00:18:57,800 --> 00:18:59,640 from their overvalued heights. 317 00:19:00,060 --> 00:19:03,740 And we said it crashed by the second quarter of 2000. 318 00:19:03,920 --> 00:19:04,620 It did in March. 319 00:19:05,680 --> 00:19:06,940 They overinvested. 320 00:19:07,120 --> 00:19:11,080 The internet revolution just had begun a few years earlier. 321 00:19:11,600 --> 00:19:13,160 And they were making up stuff. 322 00:19:13,280 --> 00:19:14,220 Same thing with AI. 323 00:19:15,220 --> 00:19:16,100 Trends are born. 324 00:19:16,200 --> 00:19:18,060 They grow their mature, reach old age, and die. 325 00:19:18,580 --> 00:19:21,160 AI was only born three years ago. 326 00:19:21,800 --> 00:19:26,320 You don't invest all your money in the few companies that were born a few years ago. 327 00:19:27,200 --> 00:19:29,900 Again, you got to make connections between different fields. 328 00:19:30,740 --> 00:19:32,060 Let's go back to 2000. 329 00:19:32,340 --> 00:19:36,680 Before China got into the World Trade Organization, they officially got in two weeks after 9-11. 330 00:19:37,500 --> 00:19:40,520 10% of Chinese 18-year-olds went to college. 331 00:19:40,900 --> 00:19:43,660 Today, nearly 70%. 332 00:19:43,660 --> 00:19:45,720 What does that have to do with AI? 333 00:19:46,200 --> 00:19:46,580 Everything. 334 00:19:47,460 --> 00:19:49,280 Young people are totally AI addicted. 335 00:19:49,280 --> 00:19:55,220 This is a country of $1.4 billion, considering we have, what, $340-something million in the United States. 336 00:19:56,380 --> 00:19:58,140 China's investing heavily in AI. 337 00:19:58,760 --> 00:20:00,900 Look what happened last January with DeepSeek. 338 00:20:01,200 --> 00:20:02,400 Nobody ever heard of them before. 339 00:20:02,920 --> 00:20:07,760 Now, the Chinese AI companies, sites, are the most used in the world. 340 00:20:08,160 --> 00:20:10,100 No, we don't need $100 million to do it. 341 00:20:10,100 --> 00:20:12,000 We only needed $6 million to do it. 342 00:20:12,240 --> 00:20:13,640 No, we don't need these big chips. 343 00:20:13,820 --> 00:20:15,740 We can use it with smaller chips. 344 00:20:16,440 --> 00:20:28,470 The trend has just been born They overinvested in the NASDAQ in the AI sector We going to see a dot bust Something like that could bring down the markets and crash everything out 345 00:20:29,110 --> 00:20:35,390 Again, people forget this. Again, we call this, right? The NASDAQ dropped 80%. 346 00:20:36,190 --> 00:20:45,590 You know what changed it? 9-11. Yep. Everybody forgot about that. Little Georgie Bush, 347 00:20:45,590 --> 00:20:47,590 the guy with a pair of cojones small and a 348 00:20:47,590 --> 00:20:48,370 more 12 years. 349 00:20:49,730 --> 00:20:51,730 We're going to get that guy Osama Bin Laden 350 00:20:51,730 --> 00:20:52,630 and get a reward. 351 00:20:53,310 --> 00:20:55,630 90% of the American people swallowed 352 00:20:55,630 --> 00:20:57,270 the crap coming out of that little 353 00:20:57,270 --> 00:20:59,230 daddy's boy's mouth. 354 00:20:59,870 --> 00:21:01,570 A little jerk. A little 355 00:21:01,570 --> 00:21:02,370 moron. 356 00:21:03,790 --> 00:21:05,570 Longest war in American history. Only cost 357 00:21:05,570 --> 00:21:07,430 a couple of trillion bucks. Forget about it. 358 00:21:07,890 --> 00:21:09,330 Started under false pretenses. 359 00:21:09,750 --> 00:21:11,690 Another lie. Oh, by the way, 360 00:21:11,690 --> 00:21:13,090 Osama Bin Laden, you know, 361 00:21:13,090 --> 00:21:15,710 created Osama bin Laden? 362 00:21:16,170 --> 00:21:17,070 The CIA, right? 363 00:21:18,090 --> 00:21:20,730 Jimmy Carter, the peanut farmer 364 00:21:20,730 --> 00:21:22,550 that everybody looks up to. 365 00:21:22,590 --> 00:21:24,010 The scumbag that deregulated 366 00:21:24,010 --> 00:21:25,010 in the airline industry 367 00:21:25,010 --> 00:21:26,470 when the airlines used to be fun. 368 00:21:26,790 --> 00:21:27,850 Now only four are on them. 369 00:21:28,810 --> 00:21:29,210 Oh, yeah. 370 00:21:29,570 --> 00:21:30,370 Oh, Brzezinski. 371 00:21:30,570 --> 00:21:32,130 Oh, his daughter does the clown show 372 00:21:32,130 --> 00:21:32,910 on MSNBC. 373 00:21:33,030 --> 00:21:34,070 Oh, that Brzezinski. 374 00:21:34,350 --> 00:21:36,730 That slimeball piece of scum. 375 00:21:38,390 --> 00:21:38,910 Brzezinski. 376 00:21:39,570 --> 00:21:41,390 We got to stop those Russians 377 00:21:41,390 --> 00:21:43,850 from going into Afghanistan. 378 00:21:44,570 --> 00:21:46,950 The Russians were going into Afghanistan 379 00:21:46,950 --> 00:21:49,290 to stop the Taliban from taking over. 380 00:21:49,970 --> 00:21:52,750 Afghanistan back then was a very advanced society, 381 00:21:52,950 --> 00:21:56,170 culturally, spiritually, very advanced. 382 00:21:57,430 --> 00:22:00,330 The artwork was terrific. 383 00:22:01,250 --> 00:22:02,350 The Taliban came in. 384 00:22:03,090 --> 00:22:03,930 You know who we supported? 385 00:22:04,430 --> 00:22:08,230 The Mujahideen, created by Jimmy Carter. 386 00:22:08,710 --> 00:22:10,710 That was Osama bin Laden. 387 00:22:11,390 --> 00:22:13,970 That was his first job. 388 00:22:15,590 --> 00:22:20,050 Brought to you by the United States and that slimeball 389 00:22:20,050 --> 00:22:22,730 making rotten hell, arrogant. 390 00:22:23,490 --> 00:22:26,510 I'm a bastard at peanut farmer, kind of. 391 00:22:27,130 --> 00:22:31,210 This is also the bastard that allowed interstate banking. 392 00:22:31,830 --> 00:22:35,290 Back in the day, the banks were only in Bank of America. It was in California. 393 00:22:36,850 --> 00:22:39,970 Yeah, then he allowed it. It was only in trust state banking. 394 00:22:39,970 --> 00:22:41,590 now you got the banks 395 00:22:41,590 --> 00:22:43,470 they own a couple of banks 396 00:22:43,470 --> 00:22:46,350 that's the Mujahideen 397 00:22:46,350 --> 00:22:48,210 that's Osama Bin Laden 398 00:22:48,210 --> 00:22:51,030 the Osama Bin Laden that we learned to hate 399 00:22:51,030 --> 00:22:52,510 we had to fight them 400 00:22:52,510 --> 00:22:54,930 yeah 401 00:22:54,930 --> 00:22:55,810 alright 402 00:22:55,810 --> 00:22:58,910 people have no idea about this 403 00:22:58,910 --> 00:23:01,130 did Taylor Swift get laid last night 404 00:23:01,130 --> 00:23:02,150 they know about that 405 00:23:02,150 --> 00:23:04,370 some guy gets what kissing a girl 406 00:23:04,370 --> 00:23:05,510 jerking off on TV 407 00:23:05,510 --> 00:23:08,050 that was all the big news on CNN 408 00:23:08,050 --> 00:23:12,810 Oh, the Palestinian genocide? No, we won't talk about that. Why are you anti-Semite? All right. 409 00:23:14,090 --> 00:23:21,910 Yeah. No, it's it is crazy that people are. I think what you're referencing is the Coldplay kiss cam. 410 00:23:22,130 --> 00:23:24,030 That's all anybody's been talking about for the last week. 411 00:23:24,170 --> 00:23:28,590 I don't even know what a guy is. What the hell do I care? Oh, Jeff Bezos got married. 412 00:23:28,930 --> 00:23:34,210 All in the news, week after week after week, with this chick with these fake boobs, 413 00:23:34,210 --> 00:23:38,470 They can platform. They can walk across. They're so big. I got to give a shit about this. 414 00:23:39,450 --> 00:23:45,570 That's the news. Journalism is dead. Again, that little scum. Yeah. 415 00:23:46,670 --> 00:23:50,850 But by the way, when I talk about politicians, this is a T-shirt you could get if you go to Trends, Daryl. 416 00:23:56,090 --> 00:24:00,430 Daryl, you are a character, sir. I'm loving this conversation. 417 00:24:00,430 --> 00:24:07,150 yeah this is a t-shirt that i did in 1992 when bill clinton ran for office 418 00:24:07,150 --> 00:24:20,890 slick willy yep i didn't have sex with that woman monocle whiskey she always sucked my dirt 419 00:24:20,890 --> 00:24:26,710 oh yeah all right these are the freaks running the show you know what this guy's worth now 420 00:24:26,710 --> 00:24:29,890 Google it up. $140 million. 421 00:24:31,790 --> 00:24:33,430 Civil servant. Civil servant. 422 00:24:33,650 --> 00:24:37,450 Oh, yeah. Took the jobs. NAFTA. 423 00:24:38,310 --> 00:24:41,610 I'm in Kingston, New York. There were Gantt News for 424 00:24:41,610 --> 00:24:45,270 Shirt Factories. Shirt Factories all over here. Oh, we didn't have Rust Belts. 425 00:24:45,590 --> 00:24:49,490 Rust Belts. Get the manufacturing out of here. Get 426 00:24:49,490 --> 00:24:53,590 cheap labor down there. Give me some money. I'm going to pass this thing, all right? Hey, I can talk to 427 00:24:53,590 --> 00:24:57,390 Goldman Sachs, all right? They give me $300,000 an hour. 428 00:24:58,250 --> 00:25:01,610 An hour. When I hear me, bullshit for free. 429 00:25:04,270 --> 00:25:05,970 Gave us Glass-Steagall Act. 430 00:25:06,870 --> 00:25:09,050 Sent our manufacturing to China. 431 00:25:10,510 --> 00:25:12,350 Again, I told you, 1970, 432 00:25:12,970 --> 00:25:17,750 10% of 18-year-olds went to college, 433 00:25:17,850 --> 00:25:21,870 now 70%. China didn't have the heavy industry technology, the high-tech 434 00:25:21,870 --> 00:25:26,970 technology until Bill Clinton let them get into the World Trade Organization. 435 00:25:28,150 --> 00:25:30,850 And now China is going to be leading the world. 436 00:25:32,350 --> 00:25:36,610 So to end that, because I know you got to go, is there any optimism for the United States? 437 00:25:36,790 --> 00:25:38,810 No, unless we have a third party. 438 00:25:39,570 --> 00:25:41,350 It's a crime syndicate running the show. 439 00:25:41,430 --> 00:25:43,850 I was the assistant to the secretary of the New York State Senate. 440 00:25:43,850 --> 00:25:46,570 I got a picture when I picked up Reagan, put on brunch for him. 441 00:25:46,590 --> 00:25:48,390 I've been with presidents, prime ministers, and princes. 442 00:25:48,910 --> 00:25:50,610 At one time, I was on the other side. 443 00:25:51,210 --> 00:25:53,370 I wouldn't know what I'd know if I wasn't on the other side. 444 00:25:53,670 --> 00:25:54,750 It's a freak show. 445 00:25:54,850 --> 00:25:56,030 The freaks are running the show. 446 00:25:56,310 --> 00:25:57,130 Don't believe me? 447 00:25:57,470 --> 00:26:01,190 How about that guy that used to be the prime minister of the UK, Boris Johnson? 448 00:26:01,590 --> 00:26:04,950 The best cartoonist in the world could not come up with a little freakier guy than him. 449 00:26:04,950 --> 00:26:11,530 How about that little warmongering little piece of scum that's running Germany now from Blackrock, Mertz, 450 00:26:12,530 --> 00:26:14,890 borrowing a trillion dollars to build up the military? 451 00:26:15,390 --> 00:26:17,290 Oh, these are the Germans, World War I and World War II? 452 00:26:17,370 --> 00:26:18,590 Yeah, we got to stop the Russians. 453 00:26:18,590 --> 00:26:22,350 We only killed 25 million of them in World War II and Operation Barbarossa. 454 00:26:22,930 --> 00:26:29,790 Look at a little scumbag over there in Macron, the little guy's sewn with a pecker like that if he has one at all in any of these old ladies. 455 00:26:30,190 --> 00:26:32,370 Look at the little jerk Starmer in the UK. 456 00:26:32,670 --> 00:26:34,990 How about drawing an F-A-U and a C in it too, okay? 457 00:26:35,790 --> 00:26:39,030 Look at the little clown show that people look up to these morons. 458 00:26:39,450 --> 00:26:40,890 We need a new system, man. 459 00:26:41,550 --> 00:26:42,950 And without it, it's finished. 460 00:26:44,650 --> 00:26:46,410 That's why we focus on Bitcoin here. 461 00:26:46,410 --> 00:26:49,370 I think they separate money and state 462 00:26:49,370 --> 00:26:49,770 Yep 463 00:26:49,770 --> 00:26:50,710 Take it out of their hands 464 00:26:50,710 --> 00:26:51,090 Yep 465 00:26:51,090 --> 00:26:52,270 Do it in a way that's digital 466 00:26:52,270 --> 00:26:53,210 Consent over the internet 467 00:26:53,210 --> 00:26:54,770 I think you need to defund them 468 00:26:54,770 --> 00:26:55,250 Yep 469 00:26:55,250 --> 00:26:56,830 It's one of the sayings here 470 00:26:56,830 --> 00:26:58,050 Is fix the money, fix the world 471 00:26:58,050 --> 00:26:59,150 So, Gerald 472 00:26:59,150 --> 00:27:00,090 I know you gotta go 473 00:27:00,090 --> 00:27:01,250 Hopefully we can do this again 474 00:27:01,250 --> 00:27:01,790 At some point 475 00:27:01,790 --> 00:27:02,370 Love to 476 00:27:02,370 --> 00:27:02,970 Thanks so much 477 00:27:02,970 --> 00:27:04,070 And thank you for what you're doing 478 00:27:04,070 --> 00:27:04,830 And again 479 00:27:04,830 --> 00:27:06,090 We've been bullish on Bitcoin 480 00:27:06,090 --> 00:27:07,190 For nearly a decade