#1436 Anthony & Polina Pompliano | Bitcoin $100,000 Coming Soon?!
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Whats up, everyone? This is not any pumping o many of you know me is pump. You are listening to the pump podcast, which is my effort to find the most interesting people in the world and sit with them for hours.

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What's going on, guys? Today we got an awesome episode with plane o. We talk about a bit point the new all time high where Prices are going and why bitcoin maybe telling us something that no one is talking about yet, but everyone should be. Then we get into elon mosque, how we made seventy billion dollars in downspout IT elected, why that may not be enough money, and how is elon most unit? Then we get the Donald drops tax cuts and Kenny actually bounce the budget.

What's going to happen in the united states, and should you pay less taxes or not? We then talk about vice president Harris and all the spending of her campaign, how he went to dead, who should pay the money to and why there are so many issues on that front. And lastly, we finish up with gary gaines of the sec and regulating bodies.

There's lots of questions about who is going to run these organizations in the trump administration, and we get to do all the details today's episodes pack with on the insight. I promise that you will learn a lot if you watch the full thing and when you get done going to the comments and let me know what you agree with, what you don't agree with. I'm always trying to learn.

Here's my latest conversation with planet on Anthony y pumping o runs pump investments, obvious of him and the guests on his podcast are surely their opinions and do not reflect the opinions of pop investment. You should not treat any opinion expressed by pop or his gas as a specific inducement to make a particular investment or follow a particular charity, but only as an expression of his personal opinion. This podcast is for informational purposes only.

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If you use promote code, pop one bet online, the game starts here. Bet online. Dot A G go check out today. Ari plane and was first topic.

You got right. We got bitcoin IT in all time high. Uh, I was training just shy of ninety thousand yesterday after breaching eighty thousand just a day earlier. IT feels like everywhere you turn.

bitcoin just goes up. What's going? I told you, come on, I told you when I told you guys a couple weeks ago, weeks because IT is time.

I talked about how the having a curdlin this year for about six months, we go sideways and then this thing wakes up and up. We go and guess what? It's exactly what happened, not because I got a big brain.

We all know I got a small brain, but because if you look at all of the market cycles before IT takes about six months for that supply shock, the kind of work its way out, and then you start towards the of the year getting this demand increase, which we're seeing right now. And then IT happens to overly with a easing monetary policy. Of course, the asset is gna go up and so predictable.

Now what is most fascinating to me as I am shocked how fascine is going up. So I went back and I looked in twenty twenty, and I said to myself, I remember that bitcoin went up in november through much of twenty twenty one. And I said, but I don't remember the customers, let me go do some detective work.

Bitcoin in the first week of november was about fifteen thousand dollars. By march of twenty twenty one, bitcoin was at sixty four thousand dollars. IT is massive appreciation in five months.

And so I said to myself, well, what happened between the first week of november and the end of the year? 哼， bitcoin went from fifteen thousand to thirty thousand. So bitcoin Price doubled in the last two months of the year in twenty twenty.

I think that at the current pace, I strapped out with my low math on my excel sheet, big one is actually on track. If he continues on this path to double by the end year, i'm not think is gonna happen. I'm just saying based on the first ten, twelve days of the month of november, given the Price appreciation we've seen so far, that is the trajectory is on.

And so what is up becoming really interesting is that these candles these days of appreciation, the coin was up yesterday, thirteen percent. We're not talking about a hundred million dollar asset. We're talking about an asset that is worth more than one point five trillion dollars, is up thirteen percent in the day.

And the crazy part, there was no news. It's not like somebody that knowing ever heard before announcing they bought bitcoin or the bitcoin corporation was coming out announcing earnings or anything like that. Instead, this is simply wall street realizing that they are under allocated to bitcoin.

And so they start as they buy. IT brings more attention. Become with the number one story on C N B. C. Bloomberg, fox business is such a yesterday.

And so I SAT down last time, I said to myself, this can all just be walls for IT saying i'm under allocated. They've known about bitcoin. The E.

T. S. Got to prove the, 呃， almost a year ago, what the heck is going on.

And then that little brain of mine over sudden had a stroke of an idea, flash one off. And I said to myself, bitcoin is speaking to us. Why are we not listening?

Bitcoin is not telling us anything about wall street. Bitcoin is yelling and screaming. It's setting the alarm off.

It's calling the bluff of the politicians. The politicians have accelerated their spending. The national debt has exploded by eight hundred and fifty billion dollars in the last ninety days.

These people are spending faster now than they were ninety days ago. Bitcoin is telling us, pay attention. The politicians are destroying the future and that's why it's going up and stop doing that.

Seem three months period where the politicians have added eight hundred and fifty billion dollars to the national debt. Bitcoin is up forty four percent. Bitcoin is telling on the politicians where just all being too dominant gh to listen.

Now do we not think that this Price increase has anything to do with the fact that trump was elected president?

Of course, IT does. Donald trump has a reputation for making people rich. There are plenty things that people don't like about the trump.

The plenty things people like about i'm an independent, I don't give a help about your tribal ism whatever side you're on, knock yourselves out. I don't care about that. I just caught how I see IT when down shop blocks in the room.

A lot of people think he's gonna money and so am I. And so when downtown god elected, asset Prices took off, the stock market went up. Clipt 都 went up。

Many, many other assets all go up. Why is that important? Because of Donald trump walks in the room and says, i'm going to the White house.

Everyone thinks this guy is obsessed with the stock market. Will you put a president in the White house who's obsessed with the stock market, the stock market market to go? That's his metro.

That is KPI. What you measure is what you move. And his measured is the stock market. So he's gna move IT higher.

And so if the stock market goes up under Donald trump, IT reinforces the reputation by Donald trump, makes the stock market go up. And so investors are saying to themselves, I previously was Operating in an uncertain environment. I did not know whether the executive branch was behind me or in front of me.

They were a threat to my capital. They continue to talk about raising the tax rates. They continue to talk about implementing unrealized capital gains tax. They continue to pursue policies that hurt my portfolio. Despite that, the stock market is still at or near all time house.

But now somebody is walking into the White house who is pro business, who is pro investor and has a reputation for making the stock market up. And investors now feel safety and they are allocating capital and going risk on because they believe that Donald trump going to make the stock market go up already happening. He isn't even assumed to officiate. Imagine what is going .

to happen for the next four years. Yeah um the speaking of lack the lack of clearly um around the regulatory environment um the C I O of bit wise, matt hogan I think is high. Problem is he said that just shifted one hundred and eighty degrees are now in a positive regulatory environment.

We now have tail wins from that in that comes in the case of a market, there was an already able market. So that's gna push us higher. There's a difference .

between bureacracy run in the place and market participants run in the place. And there's a lot of people who critique having a market participant in the White house and making. Decisions of who's going to run these regular ory org ization.

But what we know is that the market participants are going to be much more pro market than the bureaucrats. When the bureaucrats get in there, look at across all of these regulating bodies, look across the administration, there's a bunch of people who have never Operated in the actual market. And so when you go, when you listen to what they're saying, they're basically Operating on academic theory.

But when you go, when you talk to a market participant, tell you how IT actually works. And so what always cracks me up is take us a bond trades in america. I forget the exact statistic, but is something like over eighty percent of bond trading in amErica still happens over bloomberg terminals in the chat function or over the phone? An academic system said, well, obviously, technology has been created.

We're going to be able to trade much more efficiently over so like, no, you go talk to the person actually trade bonds on daily basis and they're like we use bloome berg chat or use the telephone. There's no reason in the internet age, those are the two things that they would use, but that's what they use. And so understanding the new answer, the market is really important because if you don't understand the technology, if you don't understand the essence, if you don't understand how the markets work, how do you regulate them? And so this always is baLance, right? You don't want to just put a bunch of industry insiders in the regulating bodies and then they basically help out their friends.

But you also need people who have an understanding of the market that can use the nuances knowledge to be able to create rules that make sense. And so I think that right now, we have never seen in my lifetime, the american people is excited about government waste, as we do right now, the fact that the richest men in the world, elon mouse, is teaming up with Donald trump and hold once of other people. And he is saying, we are going to slash government spending.

There are people who don't even have to spell government spending. And they are on twitter right now saying slashed the spending. We've never seen this before.

And so my guess is that gonna put people in a room with the Mandate to slash government spending, and they are going to do IT. Then you're also gonna see people who are saying, hey, we voted you into office because we want inflation to come down. We want housing to be more affordable.

We want stocks to go up. We want you to protect our right to own bitcoin, to self custody at sea. And I think that the administration, based on a number of different moves that they are making, number of the people that are putting in the certain places, they are taking that Mandate very seriously. And I hope that they deliver on these promises.

And no matter what happens, I feel like it's good for bitcoin.

Bitcoin going up. Gods who became the president, Donald trump definitely is going in there saying i'm going to be the public coin present. Big question right now is will he actually deliver on the promise to establish the big constraint? Gic reserve bit kinds to teacher reserved a bunch different policies for.

But the idea is a central bank or a southern wealth fun, they hold different asset. Central banks are buying a lot of gold, gold up thirty, thirty five percent this year. 所以 why is that happen？ Will be pools of capital like central banks are buying gold they're using in as part of their reserves.

How are they actually going to store that wealth? None of them, for the most part, are using bitcoin. And so the idea of a strategic reserve of bitcoin is, if big in, is going to be really valuable.

And only twenty one million, the the united states should some. Today we have about two hundred thousand. And that we've gotten through seizing from different criminal cases at setup.

And so the Donald trump mise, that we were not going to sell any more of that. So that could be the establishment of the start of a teacher reserve. This the teacher t resort.

Just bitcoin is held on the united states governments baLanced and we don't sell IT. If he goes up a lot, great. If IT doesn't, that's fine too.

We already have the bitcoin. Just don't sell IT. Now somebody like R F K junior, he made a promise that he actually uh wanted to implement a plan to buy more bitcoin.

If you look at since alams a senator, um SHE has come out and he said, we will hold a second. Why don't we buy one million bitcoin and we can do that over the next five years or so here, much just gonna cost. Let's go not just keep the bitcoin we have, but that should go by bitcoin put on the government.

If the united states goes and establishes a bitcoin, a teacher reserve, IT will kick off a global formal that we've never seen before because every single nation state will say, if you're gonna buy IT, if you're the biggest economy, if you're the one who is the global police and you got the coin, I Better have some too. And so it's fun in games when you've got individuals fighting over bitcoin circulation. It's even funnier and more interesting when you've got corporations and financial institutions, but the final boss is the central bank, is the world fund, and when you have people showing up with trillions of dollars in asset and they say we're gone to buy this asset, distinct sky rocket.

Now the question is, all the cycles over are going to get these massive increases in Price. And then these big drops, if you want to ask people over the summer, they would said, now I think that we just kind of ground up slowly and there's not of these big blow off tops based on the Price movement of last two to three weeks. There may be bigger blow off in the future, then there were previously.

And so if you get these blow off tops, you thought gonna get market drawed out. But I was asked on fox a couple of weeks ago, they said you, what is the headline in twenty twenty six? And I jokingly said, bitcoin crashes to a hundred. Ky, because that was like a dream of people when bitcoin was at.

And I remember how excited everybody hit.

And so if I could runs up and IT crashes to one hundred thousand dollars, you will be like, oh my god, you know so much fear, whatever there yet. But that's the type of thing that has happened in this market. So I don't know how the future will play out.

What I do know is the united states has an opportunity to be the leader on the global stage. When IT comes to bitcoin. There are plenty people who don't like bitcoin, but I believe the bitcoin will continue to be the best store of wealth available to anyone in the world.

And so if that is true and the united states needs to store its own wealth the same way, that is, people need store their wealth companies and financial solutions, the the nine states should establish the sea reserve. They should buy IT, put IT to aside, forget about IT, don't touch IT. Don't try to get to with IT. And instead, let's go Operate, let's go deregulate energy industry, let's go build all the things we need to do to make the united states is an amazing place to live and to be prosperous. And the bit will take care of the bitch coin and will be fine in the future.

So the government needs to be diamond hands, not hands.

The united states is amazing at being bureaucratic. And so when you're bureaucratic, you have this deadlock or this gd lock that makes IT very hard to make decisions. And so the same way that a the united data is slow to uh make certain actions or kind of make certain decisions once they buy the big they put in the t gic reserve, I would not bet on the unites being effective enough to actually make the decision to. And so my general thought processes, the setting up is way more important than anything else because once IT said to be very hard to kind of stop, uh, the government from the direction of travel that IT is, which is just .

simply hold bit, how come body says dimon hands anymore?

They do. Oh, they do. Yeah, just on the internet. OK is not cool yet.

When you .

use the media talking about that, if you think for yeah, they say dave portnoy .

is properness sorry, somebody also said something else and I don't think that's IT okay. Elon mask spend at least one hundred and thirty million dollars to help get done or trump l elected that obviously paid off because now tesla sky rocketing um and he is about seventy billion dollars richer on paper because of tesla sock but what do you think? I mean mosk, I feel everything he touches just explodes.

I think that he on mosque realized um there is an existent al threats the united states in terms of the wall agenda, in terms of lack free speech um in terms of uh, the unsecured border at saturn and he decided that he was important for him to participate .

because he did not participate in this way in the twenty .

sixteen election the mosque is a type of person from what you see, what he like. That's difference. Elon didn't care about that, but he ran into a road block. And so a lot of people don't realized this. But let's say as an example, elon, uh, there is a famous story.

Elon, uh, was sitting around and h, they were talking about building tunnels and he said, I we shall I get good to building tunnels? There's a speculation to why they want to build the tunes with whether they are practicing for mars. They want to a hybrid stuff into the ground, uh, whatever. But we should build tunnels.

IT was on a friday, and they were sitting the conference room and he asked, the team said, how long will take you guys to get the equipment? Start trying to take tunal and they basically were like, uh, we think we can get started by like, you know, two weeks from now and he said, why don't you go around the equipment right now and go to the parking lot and see how fast you can get by sunday to start right now and they're like, uh, okay and so they went, they move all the employee cars and they started digg that day like that is elon's whole attitude is just like, do IT now um and so he ran into a roadblock. Imagine he started to talk about a public, I imagine being told you're trying to create reasonable rockets to help to settle mars and they want you to kidnap P A.

Seal and do testing on the seals ears not saying that you shouldn't pay tension to the environment when I am saying that, was that pretty insane? And so when you ran into that political, uh, kind of situation, he said to himself, ve, I gotto solve the problem. And so you mosque actually is not possible to be presented in united states, right? He was born in south africa, but I saw somebody.

Say you want to the second best thing as he got the president elected. And so he went, spent one hundred thirty million dollars, he got trump into office. And now he is heavily involved in creating efficiency in the government.

This department of government efficiency, what I think is part of the most interesting part of this entire situation is that people basically underestimate how much elan musk become a role model for Young men in this country. Everyone wants to point at elan musk, and all the adults want to yell, scream about, you know, political stuff for free speech, or they don't like them, or Young people don't care. Young people see a guy who is the richest man in the world, who is shit, posting on twitter, who runs five different multibillion our companies.

And he's doing cool stuff. He's launched in rockets. He put in computers in people's brains, right? He got text driving cars. He's cool.

And so to the Younger generation, they all look at this guy I like, man, elon mosque is who I want to be. And so when elon came out and he said, this is a battle worth fighting. I am gonna spend my time and money on doing this.

There's a lot of people who I think that, hey, that's important. And they when they and so when we go, we look at you on getting seventy billion dollars, Richard, I think that's not enough. And people don't understand.

In a capital society, the person who create the most value should get the most money. That is how capitalism works. Name somebody who has created more value than elon musk.

You can't. And so elon deserves to be the Richard person because he created the most value. The question is, is he actually getting paid enough for the value that he's being, that he's creating?

My argument would be that if even on right now was worth five hundred billion instead of three hundred billion, the world would be just as good off. And IT probably would be much more um you kind of indication of the value that he's created. And so when people look at that seventy billion now, just hold on a second here.

Actually wish we have a conversation about is you on must underpaid because of the value that he is created, right? And you can kind of go this, the best entrepreneur in our lifetime. How much is he worth?

Yeah, I also love that he's an immigrant from south africa, and he came and build all this value in america, the ultimate story. okay?

And he's proud to be in america, which I think is an important part, is there's a lot of other places around the world that he could build certain products and services, but he does he hear in the united states. And again, he I I think took immense personal risk.

If Donald trump does not get elected because he threw so much weight behind him, if you are you on, do you think that the next government would mess with your companies? Do you think that they would come investigate you? Do they think that they would personally come after you? Probably they would already do IT before the election.

yeah. And so IT just goes back to this idea of that, uh, we need as much free competition in amErica as possible, right? We cannot have bureaucrats playing seizure and basically thugs up, thumbs down in the success of a company.

That is not how the free market works. And so do we need certain regulations? Of course, do we need as many regulations as we have now? Absolutely not.

We have to get back to that free market capitalism. And somebody like elan, I think, is like a slight hammer. He walks in and he just breaks down whatever is there. And that ultimately, what unleashes what amErica really was built on?

Yeah, I think you and I always talk about like, what if the government was run by entrepreneurs and now we actually get to see that. So I think that interesting experiment in the american story, because he surrounded himself with people who run companies. So running the government as a business will be an interesting experiment.

The ideas have always come from the private market. We don't rose as these politicians. They spend immense amount of time this. Now what trump is attempting to do, we don't know this can be successful, is he is trying to bring those people more into the government and say, listen, i'll create new things that you can Operate where you don't have to have a dot g email. You don't have to work here, just give us the answers will go implement. And so I think that people like how a lutte elon mosque eeta, they're all saying, I don't actually work in the government, but I am going to help you get the right ideas, get the right people in the places, get the actually funding. That S A cucumber.

In two and sixteen he had, he tried something like a found, found round table of advise C, O, around table. But then trump became toxic.

and they'll quit. So there's a lot of CEO who I remember the very first one red tilson h he came out of there was Steve source man elon was added a eta. And they all they were doing, like post game interviews when they walked out, right, the media was asked, but questions and they all were like very, very positively speaking about trump.

And then within two or three years, basically all of them, I think, you know, kind of felt like, hey, uh, maybe this isn't the thing that I should be associated with. And so they started to back away. Interestingly, almost every single one of those people, and not all, but almost every single one that was in that original group, uh, endorsed ed trump for president this time. And so they they saw that the of direction that we were headed, they said, no, actually that's the one that we should go with.

I was going to instead of a around table this time, he's actually like moving them further more intimately into the administrative .

multiple picture on mosk moral logo, like in meetings. Yeah right. And so when you see that stuff, you say, okay, if I am an american citizen, what team do I want to hire? I want to hire the best. Elon musk is probably Better than most people, regardless of the problem. Yeah, think of a problem the government has and think whoever is currently working on IT or elan who's more likely .

to solve the problem yeah and not just one of our friends said this a long time ago and IT being true, he said, think about your smartest friends. How many of them are going into politics? Your smart st. Friends are probably going into starting companies or finance or something like that. Very few of them are like amErica politician.

I think that this is slowly starting the change. You see people like, uh, j. Evans. You see people like a couple of folks.

but I inspired because of people.

But you see those people and real with the objectives like, right they are they are good when they talk right, communicate well, they do all the stuff. I think part of the chAllenge for the democrat party moving forward is going to be where are your Young stars? And so a lot of the Young stars that they previously kind of, I think we're betting the party on were very far left in america, just gave a Mandate that said, we don't want that.

And so there's an opportunity for the democrats party to go find those Young stars and go and put them up on a pedestal and say, here's our answer to J. D. event. Here's our answer to evoke e here's our answer to whoever we've got our own stars. But right now it's a question mark.

We don't know who those people are um and I think some of them will emerge right? And part of IT is the party saying, hey, we want you to be the Young star. Some of them will be Young people be inspired, right, who kind of lean left and say, hey, how? On a second here I saw what happened.

We are fixed. A lot of their Young stars turned republican.

Well, that's a whole different situation.

Okay, let's talk trumped tax cuts um so I found this personally very interesting. So trump's promised much more to both individuals and businesses on tax policy, tax cuts on tipped to income overtime pay some social security taxes, tax cuts for first responders and the military and americans living abroad, and deductions for all alone interest, among others. But then, you know, I was like reading more.

And the head of, you know, this expert on tax legislation said, conservatives don't have the summer to do all the twenty seventeen cuts and keep campaign promises on the deficit. So what do you think that? Can he deliver on all of these tax cuts without increasing the distance .

is very hard to do. Um think of if you cut taxes, you have to cut spending more right? If you want to depot to come down um you also have the option to increase revenue elsewhere.

And so things like terrorism, things like motivation, the bald set or potential options. But I do think that although IT would be unpopular, I think that there is probably somewhere between sixty eighty percent of the government budget that you can flash and the government will contain. Run does mean to be easy, be rocky, to do IT. But I do think that the government can run with a sixty to eighty percent reduction in spending.

Be perfectly yeah, I think how to debate with someone on this recently. What was your example of you said? I think about like the not D M V, maybe the post office was IT.

我 just think of any any government thing that you engage with.

right?

Perit is not. He is a good example, right? I gave me to, uh, when bill walsh was hired by the same first of forty nine years, uh, he came in the reverse team league and he wrote this great book that called the score take care itself.

And when he walked in the building, he's a football coach. He's coming into a horrible organza. The first thing that he did is he went and he spent time with the reception is and he said with the reception is and he said, i'm onna, teach all you have to answer the phone.

You have a head football coach response me doing excess and nose in finding the right players in doing something on the field. He said, no, the culture of this place is going to be set by the reception is because they are the first line of defense. When somebody interact with our organization, the first interaction that you have with the center of forty nine years, if I am the head coach, is you call in the reception, thanks to the phone. true.

How do we do that in an excEllent manner? There is no excEllence going on to the U. S.

government. There is no standard that are being held to, right? Go and look at the T, S.

I just go go to the airport and watch what people are doing. If I was a four profit organza that was actually trying to achieve excEllence. They would be monitoring what our employees doing.

How are they treating the staff? How are they actually pushing people do quicker? How the heck is that possible that you have sometimes twenty different T, S.

Agents and you've GTA backup line. It's not excels. And so the reason is they keep drawing more, more people at these problems. And then what happens is they get this bloated, more not .

excEllent people .

at the problem. The people are not excEllent or not excEllent. You can take any group of people and make them excEllent if you have good leadership.

But instead what happens is the T. S. A goes in the hire bunch people.

So say, okay, now we have ten people here. They're all going to work at this one station. So we got two OK, so got one person.

That's their job, and make sure everything gets put. Recent on the built, you got somebody who's monitoring, you got somebody who's patent down. Right then you got somebody going to do the extra bag checks ten people for a single.

But then the T. S. A says of the ten people, we need a manager for those ten people and then the manager for each lane.

We also need some to do this whole gate, all the sun you like IT. There's like fifty people working at this one. T S A D people missing their flights and then they say, OK, but now there's four gates at the airport.

So we also need to have somebody who manages all that next. There's like seven layers of bureaucracy at one airport time, every airport in the country. And that's just T, S, A.

And say you say yourself, hold on a second, if you are to go, and you are to design this from scratch, zero based budget. And you want to say to an entrepreneur, you get x dollars per year to do this, you think they could do more, more efficiently? Of course they could.

And so IT goes back to this idea of what we have done as we just put bureaucracy on bureaucracy on bureaucracy. And then we have basically fulfilled all these roles with people. They can get fired.

The reason why people want government jobs is because it's incredibly difficult to get fired from them. If you have a job where you can get fired, a lot of people don't try hard. A lot of people don't pursue the standard of excEllence.

And so you have to change that stuff. You have to say we are going to go back to an area where we need to be efficient. We need to deliver on the service that the american people are paying us, and we need to do in a manner that is not wasted.

But right now, there's no incentive to do any that stuff. And so this is a uh a deeply, deeply seated problem. IT is incredibly difficult, because basically you gotta go to the government.

You got to say, we be able, able to fire people. Well, guess what happened? There's unions. There's government workers as all these. They fought so hard, so you can't fire them.

So what do you do? Somebody has to go in and smash the income bit cona structure and IT may take an executive order and may take whatever. Yes, yeah, but that is the only way that you break this off.

Here's the problem. Trump has four years and four years only like that IT can he really, realistically, if you're honest with yourself, do all of this, dismantle all of this. And like it's just .

you don't need to do IT in every single department what you gotta do, right? If I was down to trump walking in the office thirty days were IT to one department in thirty days, we are not transform one department. And we are going to tell the american people, here's where we start, and here's where we ended.

We had x number of employees never down to this. We've increased the time that you stand in line of T. S, A, from this.

And we'd roppongi this. We've increased the number of positive interactions, or N, P, S. Score went from that.

Like, that's what you do endured in thirty days, and you do IT so swiftly that people don't even believe that IT was possible. Elon mosque fired eighty percent of the twitter staff in, like, three months. He did a massive cut, like, okay, we thought to maybe a third.

So if elon can do that, this sound like there was your five hundred employees and there are thousands of employees there that he was able to go and do this too. You can absolutely do an organza. And maybe something like the T.

S. A is too difficult to start with. It's very big. It's very fragmented. You've got the interaction with the american people on on a daily basis. It's very kind of painful, right of you if it's understated or whatever, but there's planning about the things that you can do.

I also think that the current administration should create a website and they should basically keep a score board of how much money they create, a new revenue for the american people, selling off buildings, least things driving money through, terrify ta and run that score boarded up as much as you can. And every time someone says, what are you doing for me on paying your taxes? Where's that money going? You point to the score board, you show them we're cutting this, were making money here.

Those are the things that also some people sort of say, you know what, maybe I don't like all your policies or whatever, but you you're tel me, you give me a report. The problem is that politicians have always hit behind the fact they don't want to talk about the details, because when I talk about the details, I can get attacked. But down from those don't got four years.

He can't be president again. He seventy eight years old. Go for IT. Do we think jd .

vans runs for president events?

I somebody left a comment on john rogan interview jd events. They said, man as wide, you, the forty seven and forty eighth present on your podcast in the last week talking about J. D. V. The next president probably .

wants to .

be the president. The sea go. Yeah, there is a world where maybe the current mini, the incoming administration, completely from all.

Yeah, right. And this is horrible. What american people probably can say. We don't want that. And so you don't you don't get the kind of free pass of your vice gonna. The just found out instead is all about all your policy is actually the thing that american people want.

I am. Come here is her campaign team raised the billion dollars and somehow ended up in more than twenty million dollars in debt. Guess what that happened? Opera, her endorsement cost million dollars. The concerts were twenty million, the influencers were four million, and then the call her daddy said was a hundred thousand dollars. I mean, there's gotta more spending here that, but just that alone is a lot of money.

Let me give you a couple of details. I know someone who got approached for, uh, to make videos for camilla's Harris. This person, nothing do a politic in lud the outside of political thing and they were shocked.

They didn't even ask how much money. I'm not doing that. I'm not very first person not doing that. But do you know how many people probably say how much money? yeah. The difference is that if you want to see why Donald trump, one is because Donald trump aly had more videos created for him than Harry said. If you actually went look to the numbers and pay for single is the difference between a true, authentic fan base and then people who are being paid to do IT.

And so if you look at those rallies, imagine spending all the money to set up the facilities, do all the stuff, and then you're paying five, ten, twenty million dollars, two people to come perform. Yeah, obviously these things exploding cost, if you pay, also show up your entry Price for this event before you anything up five yeah and then you got all of the other things that go into IT. And so I think that um we are now entering an age where the bureau ATS will continue to leverage using money.

It's kind like a startup that doesn't a product market fit. They keep spending money to try to say, hey, look, we're having people come to our website instead. The company that has product market fit, they do know marketing, right? Tesla doesn't do marketing the product speaks for itself.

But a lot of other car companies, they're spending immense amount of of money. And so that is the difference here is that truong pad product market fit, he didn't need to spend any money. But on top of that, I saw statistics, uh the that that I saw was that, uh, Harry, five hundred million dollars on her team. Where's fifty or five hundred? Trumps ent, ten million dollars.

And so if trump spent ten and he spent five or fifty x more, that alone shows you that it's just a different way to actually look at how are you going to use money and he goes back to this idea that when you run a business before, when you understand how revenue and expenses work, you have a very, very different approach and and ultimately goes back to this idea of, do you respect money or not, right? If you talk to entrepreneur, a small business owner, anyone who Operates, they will tell you, I respect money because I know how hard that is to get IT, and I know how quickly you can lose IT. And they respect the dollar. And so they don't spend IT as if it's never gonna. But if you're a politician, such a career politician and is not your money, you you just spend everybody else's money like is ever .

going to end. Wait, just a really quick aside. But you think about people Normally when they have a product, uh, and then they find out that the founder has a certain point of view that they don't agree with. They're i'm never shopping from x again or from this again, but I have not seen anybody say, oh, you on mosque line with trump, i'm going to boycott his products a lot. What maybe, but a lot of people are still buying tesla.

There are a lot of people still buying tesla. There are some people who said, hey, how are people selling my test? But but not anywhere near like a big. My favorite is the people who have bur stickers. They say, I like the car after the guy who built.

but like it's a product that's so high quality that is just like.

of course. And so just think about if you could take that same thing where there such great product market fit that even though people don't like you as the creator, they still buy IT. Imagine if we did that to education in this country where parents were like, I don't even like the court administration, but the school is so good in the public school system that I had my kid there.

Yeah right. That's not what we do. Instead we take this approach of do the bare minimum.

And when you do the bare minimum, the problem is that you then have people who don't actually hit the very minimum. Your goal was the bare minimum, but they d underdeveloped students are being worse. I saw statistic, you should google.

I saw statistics on the national literacy rate that is IT was shocking to me in in the us. In the U. S. At the start that I saw, if I remember IT correctly, with something like twenty five percent of americans don't meet the like standard litera .

cy rate number um twenty one percent of adults are illiterate. Fifty four percent of adults have a literacy below six grade level.

Think about this first, second. We are a country that provides public education with U. S. Taxpayer dollars .

to our population .

of cu ult or illiterate. How is that possible? We're not talk to about, hey, there's a big S A T word that I do not have a reader.

They're illiterate. One at a five american adult is illiterate. But again, over half one out of two cannot have a literacy rate higher than six grade. What are we doing here? Take a sledge hammer and destroy the incomplete system and rebuild IT so that you can build something that can actually benefit the people. If you had a product that promise something in one out of two of every customers that came through an usual product did not get the desired outcome, you'd be at a business.

Yeah.

IT is insane that the most prosperous nation in the world has one out of every two americans that cannot read above a six grade level. What are we doing in that rage? That just complete discomfort? That disapproval of the system is why Donald trump on the popular IT is because people win that ballot box. And they said, enough, enough. I don't even know if this guy, a guy who can solve, but what I know is that the people within the system are not going to do anything different and I think that is why this was such a landslide.

Yeah okay gary ginza er is likely to resign um and there are some possible candidates who can take his place. Do you have any that you think what do IT?

Let's fast for ten years from now. I think that gary games later reputation .

is a commercial S S.

C, C. Chairman is going to be much more positive than people believe that to be today. If I go and I pull all of my friends in the cypher industry, a lot of them will express um unhappiness with ginseng er and his administration, I think that's well covered in the media.

But I always go back and I look at George w. bush. George w. Bush was not very popular because the wars George have you, bush paints and his friends with malle obama today, and people actually have a much Better view of him, you know, fifteen years, almost twenty years after his presidency.

The more time that passes the morning, the store should kind of sets in, people able, kind of volva reputation at sea. I think that gary ginsberg is going to be able to hang his hat on. The fact that he approved coin is IPO. He approved the first ever bitcoin etf in united states, and he approved the either etf in .

the coin basis. I, P.

O, yes. Coin base went public with kinzler as the S. C.

C. chairman. I believe if I remember the the dates correctly. And so when you look at that, you say to yourself, okay, regardless of the above veness, the infighting, the the debate, all the stuff, the results are going to end up being the resume. And so it's very hard to see today with people in the cyp to industry, but I do think that gains a very different reputation. Maybe he will see um but is not a Normal for this regulate body uh heads to either resign or for the new president come in and switch them out that that kind of A A Normal thing. And so I think that people are kind of grasping at craws to kind of tell story of crypto anti crypt to whatever if you take the rope to topic out of IT, I think that most of these regulatory body uh kind of leaders would change over anyways. Um and so it's probably less of a story that maybe people want to make IT.

Yeah I do think it's interesting like this is again one of those like political things where trump has promised the american people that day one of his administration his firing garages. Technically he can do that. Um IT says that he can't remove ginza without cause until his term ends in twenty twenty six. But people think that .

gary will resign himself. You you just give the answer. Why without cause?

Yeah, what's a cause? Listen.

listen. You have to remember it's. If you put enough smart people in a room and give them that chAllenge, they'll create a cause, right? Figure out a way to do IT, right? And so IT IT comes back to this idea of, yes, the tech like your own power, right? They said, if I don't you to step down you, he said no.

And he basically constituted that he would go to court to fight trump. Who do you thinking end up winning there. You really think that the federal reserve chairman is going to go to court and be able to resist the full power, the executive branch, to stay in power?

Come on with IT within unfriendly president to you. Well.

and then there's always the question of life from a reputation standpoint. Do you really want to be the one who did that? Or do you just say he, look, you can't fire me, but i'm on to resign? Yes, right.

IT IT. All comes back to kind of like what are you optimizing for? And some people may dig their heels in, you know, kind of fight stuff.

But for the most part, I think people generally you know there's kind of this um practice of new president comes in. A lot of people resign. New president you know is able to then put in their .

people the two candidates that I have seen floating around are um dan gallagher who previously worked as an S S C commissioner and is currently the chief legal complaints and corporate affairs officer of Robinson od markets. Uh gallagher has criticized against their S C C and ask for changes to the way the agency approach crypto regulation.

The other is paul actions, part of trumps twenty sixteen transition team and also previously served as A N C, C commissioner. He is currently the C E O of a consultancy phobic global partners. Since twenty seventeen, he has served as a culture of the token alliance, which is an initiative of the chAmber of digital commerce. So I I think it's interesting that kind of like the the sticking point of the issue is the crop to issue with A C, C. I do think that .

a lot of people are in in another name that I would love to put out there. I don't know you'd want to do IT, but a Christian carlo um he previously run their C F T C. Um I think that he could be a pretty interesting one. He's not kind of clipped to dad.

Very good to me and .

either would be great suggestions as well. Um but usually when you hear kind of like, hey, here's the rumor um it's pretty much like the administration has ordinary arrowed down to two or three people. Very rarely do at this point in the game when you already have a transition team and play, sure they knew the Price going to be attra.

Is there kind of a surprise? Uh, appointed IT happens from time to time. But if the names are being floated, it's partly because they very said hate can be one of these two or .

three people have a question, if the S, C, C, to somebody who's very crypt of friendly, right, isn't there a risk that the fraud in the the reform of the gypt to industry, what kind of not be regulated .

as much? No, because most of that stuff has happened offshore. So what you do is, if you stamp down so hard in the united states, you push a lot of IT offshore, which sounds great, but because we live in a digital age, people can still use all these process services, right, to view some of the F, T, X. IT didn't matter.

Instead, if you bring them into the regular ory fold and you say, hey, here's the rules we're going to have overseas, right? You can actually probably catch things before uh they actually become a problem. And so remember, there's frag that happens in the U. S.

Stock market, right? It's not like there's some magic solution um but I do think that the general goal here is you want to have to turn and then you want to be able to catch some portion of things before actually end up hurting investors or whoever. IT is really hard to do that if they're outside of your interview where the S C, C doesn't have jurisdiction everywhere.

And so I think that part of, uh, the argument people have had is like we want to work with regular ory bodies. We want to do this in america. But there's got to be some sort of you know, a understanding of power going to do that. Um and that's ultimate what people .

trying to figure out in an ideal world, what is your view of the S. C. C? How should IT Operate in a perfect world?

People smarter than me will figure that out. Um I I generally think that you want smart people who understand the various financial industries. Uh there is a whole range of complexity and things are pretty straight forward.

Some things are very, very complex. You get like you know all kinds of derivative financial products, instruments, stuff, thinking I might even understand, right? It's hard to create these rules. Um and then I think that you want people who have a good understanding of the law. Do you want people who have a good uh kind of network of market participants they control on, and then you want people who genuinely care.

Now he is actually very underrated is if you have people who care about the market being successful about uh creating an environment where people can come in in in participate a safe and fairway um without having too much of a regular ory burden in seta, um I think you get a Better outcome and so uh to me it's not about anyone decision as much as IT is like do you have three people in the room and do they have the rate kind of evaluation and decision making process? And if you can get those two things right in terms of people in process, then you're likely to get good outcomes aren't regardless of what the topic is. And really, I think as a uh, market participant at all you can ask for right is hey, the three people in the room, you have a good process.

Most of the things you know hopefully are are common sense kind of outcomes every once a once that the my neck go away. That's okay. But at least you there's some predictability. There's some confidence in this process um and is not to say the S C C doesn't do that now, but IT does mean that um you know you got to to constantly keep improving and trying to deliver that message to the market.

great. Do you have any final thoughts for bit coin for anything higher?

We're going on higher. Let's see what happens. Are everyone talking next time? What's up? guys? I hope you enjoy in this episode.

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