#1439 Anthony & Polina Pompliano | The Global Race For Bitcoin Has Begun!
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I is Donald trump going to make a strategic bitcoin reserve?

Yes, he's going to do IT. And I think that he should .

do IT immediately.

He's going do IT because this is the one thing that bitcoin ers are good at. If you say something publicly, we will hold your feet to the fire until you fulfilled your promise. And so the problem with campaigning is you got to tell people what you're gonna do in the future.

And so Donald had to tip his hand, and he had to tell everyone, we're gona create a big intro teacher reserve. Now, the one thing that may save him, we are to get two hundred thousand points sitting on the government baLancer. They would sell them, except for Donald d.

Trump is going to say, hey, don't sell this. So we're start out with two hundred thousand, then we're gonna have to go and start buying more. The reason why this is important is because the global race for bitcoin is underway.

I route five years ago about the fact that there was going to be this global race. Now, after the individuals had the chance to front line for fifteen years, corporations, financial institutions and countries realized there's only never going to be twenty one million. So good luck trying to get your share. And these organizations, these countries, they have lots of money, but the race is underway because if somebody else buys the coins and they don't sell, there's no coins for you.

And so what I think that we are on the precipice of is a fall on panic buying situation, not in the sense that because it's gonna go from ninety thousand to a million overnight, but when you are going to see is these big monolithic organizations, we're going to panic internally and they're going to say way the second, we don't own any, we need to buy some. Now the thing about institutions, they still move low, but you're gonna see all of a sudden this feeling of, we don't own enough of this, and we need to figure out how to get more. And so I think that Donald trump in the united states are going to be the ignition that you just bang me, turn that key.

As soon as the united establishes the teacher reserve, you can see all these other countries follow quickly. Now the true secret, that is, other countries are buying right now. They're just not talking about IT because they are anticipating the trump s is gonna in office and gonna do this. And so if you think that you can front run Donald trump in the united states, you do IT. And so my guesses is over the next six to twelve months of bunch of countries are going to come out once you've bought the bitcoin and said, oh, we own BBA, however much bitcoin and so the nation states are here now they're knocking on the door and that is going to be a persistent bid for bitcoin four years to come.

I think we've laid out the case for why this is important. And you know, if donal trump does, this will be good for the industry, the country potentially. Is there a world in which he doesn't do that, or he does something different, and then the community is disappointed? What is what is the other scenario?

Live by the sd, die by the sd. That's how is gonna go. If he does what he said he was going to do, the big one community will support him if he does anything else, including if he doesn't create the strategic reserve, if he becomes a brave of the bitcoin and bitcoin holders, if he search, plan off and shake inland, he will get absolutely savage by the big corners.

And so i'm not saying this right or wrong. I'm just tell you have seen this playbook a lot of times where somebody comes in, they get a little bit of taxation because the big corner 是 p up right there is gone hard。 And then all the sun, they start to believe their own bullshit. They take a step off the train or they kind of 5。

And so I think that Donald trump is walk in a very fine line. And there's paradox, as I always say, the paradox rule the world. How is the first pro bitcoin president, also the one who launched a crypto project, right? There's a lot of new ones here.

And so I do think that uh if he does not do what he said he was gonna you're gonna a lot of people become dissolution from the biton community. Um and when I say that, they're kind of savage um mainly the tweet lot of means and mean things on mine. Um but I think that he will see that he is lesson less support.

He may not care because he's not going to run for reelection. But I think it's an important community. It's import average market IT matters to a certain subset of the population. That's why I am worried .

about like the urgency of this strategic bitcoin reserved. Like is he really going to do IT in the first thirty days given that there are so many other problems.

I think that he is getting pressure from center lamas and uh other a uh politicians. I think that every single person that I have seen that has been suggested for ACC chair and treasury secretary are uh bitcoin pro cyp to uh and then I think that his family, uh his his sons in particular are very much of probiotic programs to and then I think that there's a lot of people who donated a lot of money to that are very afford this stuff. Um and then his friends as well, if you look at his friend group, there's a lot of people there that also think that this is really important and so um it's gonna hard for him to say i'm not going to follow what all these people around you are saying um but again, the question just becomes when are they gonna IT I there's no way the years trump gonna the one who gets to clam Victories are going to be somebody else. And then the big question is, does the united states start to devalue their currency to buy more bitcoin?

interesting.

That is a very tough decision because basically what that decision would be is it's something called a specular attack. I think nick Carter from castle island was the first person really to right about this years ago, a speculative attack, basically is you got a money printer as you need money to buy bitcoin.

Well, for the average person, how do you get more money you to go work? You ve got to put a business where you got to raise capital, where you get to all stuff. A government can just press the money partner.

And so again, how much bitcoin is actually trading out there? Let's just use easy numbers. Let's say that um one point eight billion dollar or on, sorry, one point eight trillion dollars uh for the big one market cap, half of that has not moved in two in two years.

So that means that nine hundred billion dollars is tradable every two years right now. okay. Well, let's say that the united states, we said we want to go and buy one hundred billion dollars of that worth sending one hundred billion dollars to ukraine, and we don't even know the money goes.

The pentagon can't pass the audit. There is money just flying around all over the place. So one hundred billion dollars for a two train. Our deficit is our rounding error.

And so if the united states decided to simply just go print one hundred billion dollars and then go buy bitcoin, the national dead will not increase that much. I would be one hundred billion dollars. They added one hundred fifty billion dollars in the last ninety days.

Then if all the sun, they could buy a hundred billion dollars worth of bitcoin. And they were sitting on IT, they look like genius. They would be probably one of, if not the largest holder of bitcoin in the world.

And so the incentive is for them to do this. The question is, are they willing to take the political hit where people say you are actively devaluing the currency, your increasing inflation, in order to do this? I personally, if I was president for a day, I would hit that money printer so hard, and I would go by two hundred and fifty to five hundred billion dollars of the big coin.

And the Price is gonna run on you. And so that means that maybe big one at ninety thousand, you can end by some one hundred and fifty thousand IT doesn't matter. Because if it's going to millions of dollars a coin, having as much bit coin as possible is incredibly important for the future of the united states.

And so when you hear that the united states would print two hundred and fifty thousand dollars, my god, crazy, they added eight hundred and fifty billion dollars to the national dead last ninety days. It's nothing, nothing. And so that's the real conversation I think we should be having. Y, Z, united states not printing money. Go buy bitcoin.

So what do you think about trump saying that he could use bitcoin and crypto to pay off the nearly thirty six trillion dollar national debt?

I don't think that you're going na be able to pay off .

the entire thing in the short well well.

the whole question is like how do we the dead, without getting into much of a rabbit hole around the national dead basically to ourselves um the way to think about the national debt.

not the aliens.

So if you think about the national dead, it's not about paying IT all way off to zero, right? But maybe the first thing we can do is can we simply be able to stop the bleeding and then can we start to pay IT down a little bit, right? And so it's less about, are you actually able to get to a zero dead right? Or can you simply generate surplus? Can you use your baLanced to start paying this off a little bit? And the way that I think about this is like, think if you had a credit card debt, right, and you old twenty five thousand dollars credit card dead.

the odds that well.

the odds that you're going to be able to snap your fingers yeah and instead of chipping away at IT, pay off the first hundred thousand, pay off the next thousand, pay off the five thousand dollars off the next ten thousand thousand, you just quickly start to try to chip away at this thing. And part of chipping away at IT is don't add more debt, right? And so I think that's where the united states right now is.

Yes, putting big coin on the baLance sheet would be great. I think that I will appreciate value. Um if you were to go by, let's say right now five hundred billion dollars for the book coin, well, if you have a thirty five, thirty six trillion dollar dead, then if big in a hundred aces from there, yeah you could absolutely pay off the debt but I think that one hundred would put IT that you know um what would that be? I don't do public math.

I think ten million dollars are coin. And so is that possible? Absolutely it's just gonna decades to get there. Um and so it's just like are we going to be long term thinkers or we stuck in the present day short termism um and we're worried about you know who's going to be upset on the .

on the nightly news yeah um speaking of more bitcoin, a more institutional more companies are buying bitcoin of putting IT on their baLance sheet micro strategy brought more um four point six billion mara marathon holdings um did a convertible know at seven hundred million and intends to buy more bitcoin and then similar scientific at a two hundred and fifteen big coin to its holdings what do we think about this? Are they just kind of like you said, front running, trying to get .

world has changed your baLance sheet is now an offence of weapon IT used to be that you had your revenue and you had your expenses. And you can pull these two levers and you can try to figure out what am I going to do to become more profitable. The more profit I have, the all my stock Price goes up.

But there was a couple of companies around the frenches that over time said well, with second baLance and usually with things like real estate. So as a lot of companies over time that would say, hey, we have a sort amount real state. We have land on our baLance, eet, that is appreciated. And so the asset value of our business or of our holdings, here's our stock Price.

Um and there's many examples of history where investors have looked at a company and they said way to second, I think the companies is market cap is trading lower than the value of the assets on their baLances there were to go buy the stock, right? And maybe i'm even activists and try to get them to sell off the assets or or generate revenue section. So that is a story been a around for a long time.

No one has ever in this way, use the baLance sheet offensively because there has almost never been an asset that has two things, lots of all tidy and a data day market value that you can track. So with real state, it's illiquid. So you get to go do a bunch of work to figure out with the real state worth right? Land, same thing.

But with bitcoin, you can simply look at the asset and you can see what is IT worth right now this second? And then what is that worth the next second? What is worth the second after that? That data day marking of the Price, twenty four, seven, three, sixty five, now makes IT dead simple for anyone to be able to look and say, what is the value of that balancing right then? The fact that IT is highly volatile means that you have volatile to the upside.

And so if IT is appreciating quickly now, all of a sudden people start to give you credit for future growth of the asset. So these companies are trading at a premium to what is the actual bitcoin on the baLance? Gy, I think micro strategy has something like thirty billion dollars of bitcoin on this.

Balanchine, the market cap is like eighty five billion dollars. And you say, well, why is IT trading that difference? It's not because of their software company that's not worth almost three times that the value of their bick holding.

And so what people are doing is they are pricing in, I think bitcoin is going to go up. And so the bit on that are sitting on this baLance is going to be worth more in the future. The same thing like you say, hey, I am a pull forward revenue from the future and i'm going to give you a multiple today.

And so that is why these companies over sun raised way to second, if I put a highly volt to ask on my b eat, I play offence. And it's something is going to go up a lot in the future. Now we can get credit for that at my market cap.

And so IT is very rare for a company to delude itself and have its shareholders cheer them on, but that's what's happening right now. And so the more that these companies figure out how to do this, they are changing the corporate finance playable. And by doing so, they are going to usher in a whole new era.

We're now A C, F, O or A C E. O. Consider and say, OK, I got revenue, I got expenses and I got a baLance sheet. Let's go play ball. And I think that the more people figure out how a perfect this playbook you're going to see, this just go absolutely bonkers throughout public markets because they're able to tap capital markets, get the quality, then go off on the and it's that simple. You don't need a lot of people to be able to do this. And so the fact that you can be so efficient in doing IT is also really attractive in an era where people are tired of having thousands of employees all around the world dealing with people problems and issues and all the stuff. If you can just make one or two decisions a year, and that generates ninety five percent of the value created for your company each year, how many executions are going to start doing that a lot? And so I think that is going to contribute greatly to this idea of A A global race for bitcoin in is a bunch of corporations, not all, but a bunch of them start figuring this out is only going to push the Price of bitcoin a pire over time.

I do remember a few years ago when he was largely just Michael sailor with microstrip gy. And people would go crazy when he would announced on twitter that he bought example of big coin on the baLance. And now IT feels like almost every day a company is doing this. So you think IT, it'll it'll be an value of company thirteen.

I remember the first time I ever talked to Michael. He came on the podcast and is that .

the first time we talk to him.

we had deemed but um the first time that we have like a long conversation and um he said, you know look, when we first decided we were going to do something with the five hundred million dollars our baLance sheet, uh, we told shareholders that we are looking at alternative assets potentially to buy uh things other than cash。 And so we will get real stay in gold and bitcoin also. And they had to put in a filing, yeah so public filing and they listed a bunch the access to consider the word bitcoin was mentioned one time in an obscure .

company that .

no one ever heard A. He went viral on twitter yeah and the story was and the story was there's this weird business analytics company in Virginia that's randomly worse, you know couple of million doors, billion doll, whatever was. And they're thinking about putting bitcoin on the bound sheet.

And so IT just proved big coin very sane, right? Anybody who wants to plug themselves into the bitcoin network, the bitcoin is awaiting to help you. Let me just think about the second. Would microstrip gy basically did as they took their baLanced tly plug into the big coin network and the big winners went to work, true. And they did a fantastic job.

free marketing agency.

metal planet in japan, same thing, some more scientific, same thing defied technologies, same thing. Marathon hot eight office. They're all plugging their baLance sheet into the equal in network. And the big coiner is going .

to work because I used to think that your company had something to do with big coiner, the blockchain or crp to whatever. But IT really doesn't. You can .

anybody can do this? I saw recently that A A, A local small business. Now a people send me this stuff, and so somebody sent me on twitter, A P, R.

Release that I believe is a chemical firm. Uh, and I wish I remember the name of IT, but the chemical firm is now diverting twenty five percent of their profits in the bitch coin. So every month or every quarter, they take twenty five percent of their profits and they divert IT and they put IT in the bitcoin.

And their whole idea was the CEO and the pressure is was talking about we're super innovative or constantly on the cutting edge of this stuff, were always looking for opportunity. Sea, sea, pretty cool. Yeah, I ve have a guy coming on the podcast.

Uh, we're going to record IT at the end of this week and will publish IT next week. He has created an entire bonus system for his employees using bitcoin. 嗯， fascinating.

He walked me through the whole thing. The employees loved him. Yeah he literally has an entire uh, kind of system created where he's teaching his employees, but he's also rewarding them.

Now if you plug your baLanced, whether your personal baLance, shed your company baLance sheet or your country's baLance sheet into the bitcoin network, the bit corners will defend your purchasing power. They will market your business or your country, and they will go to work for you. And so that is one of the most powerful ideas in business today. And the more that people realized that that is available to them, obviously, more, more people are going to do this.

Yeah, very good. Um let's talk about trumps treasury candidate possible pics. You interviewed one of the candidates. I think basically the only long form interview he did, Howard onic of canter, is jailed so he was being considered also scarpe beent, Harry says and basic, uh, as well. So the trump is kind of picking between both. But then yesterday that came out, people are saying that Scott and Howard, it's almost like a knife fight internally the way they put IT and that now trump is maybe considering other people, including our surprised by the same mark rome of Apollo, uh, for treasury secretary. So what do you think and and what are we know about how linc D N I states of amErica .

is very fortunate that every single candidate that has been floated would be an amazing pic OK. And um I think that from what i've heard a from what i've seen um Donald trump is much more prepared this time in terms of of picking his team. One of the complaints that I think humans administration had last time was a the kind of didn't expect to win.

And so when they did win, IT was a mad scramble. And so they quick like, okay, who should we pick? And there is a bunch of names put forward, didn't have a transition team had set up before all. And so they just started making picks based on my who kind of the safe people were.

So what does the transition team do?

The biggest thing the transition team does is helps to go and find the people who are going to take all these position OK.

So think of IT almost a as they do many things but like that is one of the biggest things and so um how a letter is the coach o of the transition team um him and other people on the transition team have been basically building list of, okay, we need to fill the a defense secretary uh role who are the top ten canada for that? Let's go get information on them. Let's talk to people to fight out people.

Let's go recruit the best of the best to come work here. Now trump, very interestingly, set up the transition team months in advance of the election. And so he's preparing and now he's making a number of these picks.

And Frankly, some of the picks, people like, wow, I never thought that person would get that role, but it's because I think trump now is more prepared. And he saying to themselves, I know what I want to do. I got a Mandate from the american people because the landslide Victory in the election put the right people in here, not who is the safe pig, who is the establishment.

And so I think that's where there was a lot of a brave veness between, uh, trumping people who previously worked with them was he felt like, hey, you are supposed to be implementing my agenda, my administration policies but he felt like people working against him. now. Is that sure not? I don't know.

I was in the right, but that was been reported. And so this time I think what he's looking for, people who are gonna do that now that I unique to him, every president you go back, colton bush, obama, trump and they're all looking for trying to find people who are going to implement the agenda, right? It's like if you run a company you don't want, somebody who works in your company is actively working against you.

But in this political arena, there's always people who are constantly trying to figure out, you know, how do they advances their careers? How do they implement certain things? How do they look back to that the next time when they run for a position? Look what I voted, look how I did this, right? So there's a lot of complexity here um in terms of the treasury secretary in particular.

For those that don't know, it's basically the CF, the united states. And so the reason why that's really important is because as we are heading into the future, a couple of years here, uh, we have very complex problems. We have a national debt of home for dabble crisis.

We have a bond market where some of the biggest buyers of treasuries have actually drastically reduced to the demand. There's new buyers that are spout up in terms of stable coin issue is a but there's kind of movement there. And so are people like Howard later, people like Scott percent ah mark rome and such a these people really, really understand financial markets.

And so I think that the whole key is whoever is picked, it's gonna intelligent. They are going be hard working. They are going to have a lot of success in the private market. There will be probe on the crypto. And the fifth one, and I think about the most important one of trump is there there will be loyal to trump.

And so I think that those are all the things he's trying to figure out who is the right person to put in that seat um in short, should I have no club right? I think that how would be a fantastic selection? I think that the united is fortunate that everyone else would be a good election as well.

Let's see what happens. Yeah, the thing that strikes me the most is like this administration is going to fill a lot of these roles that used to be filled by career politicians with people from the private markets. And I think that will be an interesting, I mean, experiment to see how you run a country like a company, right? Well.

there's present cons, right? So again, things that as I have studied uh a lot of a history, um you know take for example things I could they go right off the top my head is uh there have been a number of chief of staff s that i've gone into the White house and when they've gone into the White house, uh, many of them realized that they are serving the president right and so um you know in this book that there's a thing where this guide chen Baker says, uh the most important word in that title is staff you're on the staff, you're not the president so you're the chief of staff.

You have a lot of power because when you talk, people think is coming from the president but your staff you work for them um and so in the past or the chief of staff that go in and they basically say i'm not playing the politics game, we're gonna things my way. They don't last because if you go in and you make enemies, then IT, what end up happening is everyone's got their knives out. They are waiting, waiting, waiting.

And then when they get opportunity, they get you. So there's examples where, you know, chief of staff s in the past, uh, they were using the marine one helicopter now for personal use. And so then as soon as that was found out, everyone didn't come to their defense.

And so all the sudden they were out. And so I think that the risk with putting people who don't understand politics into these positions is that they come in or we're not blow at all. I thought Peter till had a really interesting point。 Uh, he recently did a podcast and what he talked about, what he said, you don't need to blow a lot of the stuff up.

All you need to do is sit on your hands and do nothing and then blow themselves up. And his point was, look at many of these cities. Look at many of these departments.

They all run at losses, and so they constantly have to go back to the federal government. As for more money, that's why spending has been going up. That's why the national death spend.

So all you have to do is tell them we're not giving you more money. The money you got is the money you got. If you can't run efficiently on the money, we're not give you more. So if your budget is a billion dollars or five billion dollars and you can run your organization on that, sorry. And this point is a bunch of these organizations in cities, or just and blown themselves up because they literally can only Operate if the federal government keep giving them additional money.

keep increasing the budget.

And so his point was, uh, rather than due the really impossible task of going and shot down organizations like fighting with these people, you can almost let them fail on their own by simply saying you're not getting any more yeah survive or starve but it's up to you and the current class of bureacracy. They couldn't get out of their own way if they tried. And so they're gna end up doing is they're onna end up thinking it's just, you know that us and I had a billion and if the government just says, no, you get five all of a sudden everything starts to break and these organizations start fAiling because they literally do not know how to Operate efficiently.

You know that that troops in that clashes of, oh, I don't want na go into politics because I have much more influence to the private markets. Why do you think people like mark rowen, people who are very well respected in the private markets, would kind of, I don't know, do something that, that could be a reputational risk and probably maybe not even as effective as they are in the parking. Why would they take that?

Each person, I think, is differently. You can't label of a journalizing as to why somebody we want to do something of the treasury secretary position. I do think that there's a lot of prestige and power that comes with something like that.

Um and so for a certain class of kind of financial at that is like the ultimate job is is to be slightly to do that. If you talk to them, some of them uh will talk about that uh, they want to serve their country right um some of them are are being truthful one and kind of honest that others are full shit. They're just saying because that sounds good.

Um and then I think that there's an element also of uh not only serving your country but there are problems. And so you know if you have risen to the top of your game in finance, regardless of how you got there where you're on a hedge fund and alternatives, asset manager, investment bank, whatever, uh, you have a lot of confidence that you can influence change. Um and the the thing that you I think this is really interesting about that specific position is that position not only has understand financial markets, IT has to understand human psychology and IT also has to be very, very good at handling crisis.

And so there's an intellectual stimulation that comes with uh, Operating in that role, I think, for a lot of people. Um so the question is just, you know are you willing to sacrifice time, the energy, um you know the experience with your family, etta, to go into a role like that? And are you also willing to take on the stress that is associated would be in the c for the united states? And um there's a lot of people who bow out who probably would be great treasury secretary and say, listen, I understand the upsides but the downsides aren't worth IT for me. Um and so I think that those are you know all considerations is very complex um and so both for the selection of the right candidate but also for the candidate that decides that, yes, they want to do this um I think that IT is you know not nearly is black .

and why does maybe people wish I was yeah and let's talk about a who trump to lead F, C, C, A brand and car savage. So hold on .

a second. Good morning. And god blessed amErica to .

each side every morning. Oh.

does you really how? Yeah.

okay. IT says here that he currently sits on the commission in is a vocal critic of big tech, and he said that the agency should regulate the tech industry. Then I read the article, ines. He agrees that he wants to slash .

regulation.

but he .

would go .

after big tech.

Well, there's lot of stuff, big text done recently that maybe they shouldn't done.

interesting. okay.

So what do you think, right? I mean, we all forget twitter now is is back in good Graces because elon knowns IT.

But twitter d platform, the sitting president in united states, right? Twitter suppressed information that ended up being true IT is play on the biggest scandals in american history is that big tech colluded with the government, objectively true, that they colluded with the government to suppress things that were true, 嗯， 哼， that is censorship. And so what were the punishments? Who was held accountable? It's just like this big blob. There is a big machine that everyone says.

whatever e you could retreated one of his tweet and he said, we must dismantle the censorship kartel and restore free speed traits for everyday americans.

Yeah, savage, what is good morning and god bless america. right? Read that again.

What you say. I do fire. We must dismantle the censorship cartel and restore free speed traits for everyday americans. This sounds like something you have twin.

If that is controversial, the problems with you.

not with him, you tweet a, responded the tweet and bed take about .

that for second, the F, C, C. A lot of commissioner is tweet something that every american should believe. Censorship is bad and free speech for the average citizen is good.

But people are commenting as if this is some incredible revolution or revolution. It's like this guy literally had, you know, moses come down from high. Give me some idea that all he's saying is censorship is bad and free speech is good.

How could I have never .

heard of him .

before because he was .

impressed by the car?

Um yeah think .

think about this guy, right, who is simply sitting there saying the american people should be able to speak freely. That should be one of the least controversial ideas that anyone hears. But somehow in this country that has become controversial, I will never forget the people of the view.

I had no opinion. I have a lot of friends who don't like the view. I got a couple .

friends who like this.

I don't know anything. I never watched IT, so I had no opinion. But then I watched after the election body, send me a clip and then I even, you know, listen, I like to go find the source material.

I even believe the clip I went, I found the actual video, they are two X P, found IT not watch the whole thing. And these women were sitting there talking about the reason why commoner hair loss, because we can't regulate social media. 哦， yes, so that's the whole point.

You shouldn't be allowed to regulate our speech. And majority americans went to a ballot box, and they gave the digital middle finger to all the people who believe that they should have a regulate speech. And so also, one of the most I opening things in the world was when tim walls SAT on the debate stage, and he said that free speech doesn't apply to misinformation. Yeah wrong, wrong.

Because your information that you've labeled over and over, over and over the last five years has turned out to be true, right? So you don't get to choose what is this information. You don't get to regulate our speech in the fact that you think you can is why, I ask, got fired and you don't have a job now.

嗯。 And so IT comes back to the idea of the greatest asset the united states has is the american people. Let them build, let them be productive, let them talk, let them do what they want to do. The country has been here for a long time, and IT will continue to be here for a long time. And that will be prospers if we simply continue to bet on the american people.

let them.

Talk.

let them build.

Everything that the american people are pissed off about right now is because they want to do something and the government won't let them. We want to build housing. The government wouldn't let us.

We wanted talk freely. The government won't let us. We want to transact freely. The government won't let us, we wanna a buy any asset we wanna buy. The government won't let .

us just wait to our toddler finds out about free speech OK SHE .

can have all the free speech he wants. You'll be talking to her self .

in her bedroom um all right clip .

that and that's a little three old S.

I'm cut myself. I made a clip in years. I go cup over tonight and let me teach about free speech.

I talk about taxes. I can I just tell the people something funny okay, yesterday um SHE said something like SHE started Anthony and he said, you don't know anything and he goes, I know more than you and he goes, you don't know .

bulgaria SHE died kid don't even know .

english .

at this one language above her I wish you next .

time let's talk .

about you and all day that's fine with me well.

I didn't know he was so fired up about this this morning. Let's talk about sitting in cash done. Okay, so why? And then let's talk about your tweet about how the fed has locked us out of the housing market but the to he gave us keys.

The whole idea is basically that if you look at boobs on an outside port of the housing market, I think it's around thirty forty percent um and owning housing is really important because he has been a way to essentially save at a higher rate and inflation because as they devalue the currency, your home equity is going up. But IT is protecting you from that inflation.

And so bombers who own housing on average is estimated between forty five till like fifty percent of their network s is in their primary residents. So half of their wealth is in a primary residence that has accelerated in Price at a higher rate and inflation. Why is that important？ That is a wealth generating asset for these people is generated approximately fifty percent of network.

Well, if homes are unaffordable, that means that the entire generation from that came in to the workforce from two thousand until today has basically been Priced out on a very large basis. So if you can't get in the game with a wealth building asset like a home, all of a sudden you now have a problem. And so the generation before has had housing that generated fifty plus percent of their network, and they acted a fantastic job of protecting them from inflation.

MEllen's als don't have housing because so unaffordable home afford is is worth been of forty years. But millennial s have bitcoin. And so it's the same idea.

You don't need to done payment. You don't need to qualify forer Morgans. You don't Carrying costs on a month of months basis.

You simply can take five dollars. You could start saving a today. And you can do that with hundred dollars. You do with a thousand dollars, do with hundred thousand thousand, you do with ten million dollars. And so an entire generation of people, where Young people are definitely much more likely to be coin than not, they are now going, and they are using bitcoin as a digital savings, the same way that the boomers use their home as savings. And so is the whole idea of the fed locked us out of the housing market, but the toi gave us new keys, is just the idea that you can't live in your bitcoin, right? And some millennia of the renting generation, but by actually buying bitcoin, rather than getting Price of the housing market, theyve been able to insulate themselves from that inflation and therefore has done very, very well for the people who .

bought bitcoin and simply held IT .

amazing sense.

Yeah.

what are you got?

Anything else .

that's all I got.

That's IT are you up that the on her birthday? Have you no shame?

Listen, as a parent, your job is to teach your children not be their friend. OK. And so if you got a kid who lives a cushy life.

got.

well, is stress. That's good. Sten, real world stressful. God, just wait to the little boy is old enough to get low stress.

Let him be.

Plan is protective of. Hi guys. Thanks so much for watching. See guys next time.