 Great welcome visual asset news. My name is Rob and we got a lot of things to cover So today we're gonna go over just the basics take a look at the markets what correlations Shortings and also liquidations also going to take a look at what's going on with Celsius as I've gotten a ton of questions and requests To talk about exactly the happenings going on behind the scenes also going to talk about what I learned at Consensus I was just there in Austin, Texas pretty big event and I got to tell you It was a sobering eye-opening experience and then I'm gonna get into the really big topic And this is the big thing that I think everybody needs to hear which is why we need a recession and why it's actually good for some Not for everybody, but we really do need this recession coming in I think it's actually a good thing. I'll explain exactly why and lastly just the quick story of how we stuck Simon the CEO of storm x with with the lunch bill and Dine-a-dash so anyhow those are the things that are going on Let's just jump into it and talk about the market and as you can tell today, you might Be aware market's not doing so hot as it usually has not been and we are in a slowly Decline as a do you like to call it and we got 28,000 for a Bitcoin In the last seven days, we're down 6% and 16% for a three and we'll talk about that in a second Tethers to the peg pretty much about a dollar USD coins still same way Hidden their peg so great job stable coins doing your job Which you're supposed to do and then everything's up in the last hour a little bit But if you take a look at the 24 and 7 days some pretty big pretty big losses Solana 13 and a half and a doge 16 and a half poke at that I think just going down she but you know 15 22% for avalanche and in a week sweet, Mary and Joe, that's a lot and I don't need to tell you that because you know that and It's worth mentioning that of course CPI numbers came out everybody knows this it's not a big surprise and of course we tanked for the other markets And that's normal because that's exactly what's going on the Fed Gave it a shot. They rolled the dice said let's raise it half a point and Of course, they wanted to see how it would affect affect inflation and inflation went up And so just between us between you and me right now. I don't think a half a point is coming I think a much higher number is coming because if the Fed can't get under control and Actually rose with with half half basis points. Why would they do it again? They're probably like look we need to get this under control stat and Even the little things that we do we can't control supply chains. So let's knock this out of the park I could be wrong. Hope I'm wrong, but I'm thinking about 0.75 or even a full point Not off the table. Yeah, we will see hopefully. Yeah, hopefully I'm wrong in that one and then also Just so you know, I just perusing the Internet and the YouTubes and the Twitters and I see stuff like this Drucker Miller Talking about inflation and what he's doing mostly what he's doing is shorting shorting stocks shorting fixed incomes sitting on his Just cash cash is king owning a little commodities like oil and things like that. I'm not gonna play the whole video I linked in the description you can you can listen to it but basically what he's saying here is he's just like look my job here is just a short and short some more and then short again and He says but thankfully with this knowledge he goes I don't want to you know overheat it he goes But that's the best way for me right now to make money So if you're surprised like what someone would short now, that's the truth. That's how it is speaking of which Let's take a look at our market and we can see that as far as leverage goes We're at almost an all-time high as far as leverage plays anything above 0.2 is extremely high That's the that's the purple down here And we are we took a dip and then what right back up to almost 0.29. All right So what does that mean? That means people are taking a lot of leverage plays and they're getting liquidated because they're exuberant about the market for I don't know why and Long as you're getting liquidated and this is for you can find this at coin glass comm All the liquidations in the last 24 hours Not too bad But 200 about 300 million 350 million of liquidations also about 300 yes about what just a billion not too bad Which is pretty much affects our little tiny market of 1.2 trillion and that's just that's all of it Let's if you want to drill down and see what happened Well with a theorem you can see what exactly happened here There's been a ton of liquidations of people going leverage longs for whatever reason and they think all the mergers coming up for This is gonna be the next big thing or if there's gonna be awesome I'm gonna go long or whatever their their their thought process is they're getting crushed and if that's you Hey, it is what it is. So that's what's going on and all those things. So let's let's jump into the big stuff Celsius so I've been getting a lot of questions about what's going on and a lot of fun and things like that I saw George over a cryptos or us was talking about it put a like a little emergency thing out and This is what I found and I've talked to some different people over a consensus some people you know people who who are in the know and and Can tell me some insider type of stuff and I'm not here to To tell you all that because that's really just cheese me That is just as gossip and that is what is potentially gonna happen But here's what we know and this is the truth and I'll skew it to what I know So this was a post put out Ethereum world news.com and talks about what the heck is going on with Celsius and Ethereum Mostly just Celsius but is what has so Celsius network appears to be running out of liquid funds To pay back investors who are redeeming their positions on the platform before everybody starts screaming at the screen going That's not true. That's not true. There's something else going on. It says this this hold on Let's take all the information calm down. We'll be okay I'll let me do research allegedly exiting its positions on ST ETH or Steath Steath. I remember caught redeeming almost 50,000 of the acid free. First of all, what the heck is that? So what is ST ETH or Steath? What are you gonna call it? ST ETH is the tokenized form of staked ether native to Lido I was a liquid staking solution for Ethereum backed by several industry leading staking providers that make staked ETH Liquid and allows participation without any mount of ETH So as you know if you stake ETH right now free 2.0, it's pretty much locked up for power long It's gonna take for them to actually unlock it when they actually roll everything out for the merge and the third part for sharding Which you know, good luck whenever that's gonna happen anyhow Alameda is one of the largest holders of Lido's ST ETH and some crypto community members are worried about a potential bank run The redeeming of the position itself isn't by itself a concern analysts are worried that Celsius Network may not have enough liquid funds To pay investors who are redeeming their positions It is estimated that Celsius will run out of liquid ETH in five weeks at the current pace saying that the platform is functionally insolvent 27% of Celsius ETH is liquid with their main air and Staked ETH or staked in ETH2 the latter being locked up for a year and this is from yield Chad I guess looking to take a look at a curve and this is Celsius ETH holdings and thousands so on ETH They have 268,000. That's 27% and this ST ETH It's 445,000 or 44% and ETH to stake in which I can't really touch 280,000 29% and they're saying that people are just Taken Ethereum off like crazy and if that keeps happening and they can't hit those numbers So here's the thing So you got to remember that Celsius just isn't a bubble They can also get res they can also do fund raising They also can pull funds from other places that actually call in margins They have to remember that they are invested Somewhat heavily I don't know how heavily it would be per se as far as weighted But as far as Bitcoin mining so having said all that there's two sides there But here's the big thing doesn't matter what really matters is what you think so if it is in your gut And you think yourself, I don't like this. I don't like the optics of this. I'm gonna get out and get out That's what it is me personally. I've said this from day one Don't put more than you're willing to lose into any one certain investment I don't keep a ton of my crypto on Celsius that is a recipe for a disaster for any type of exchange I'm still on the belief that I just use my ledger and just put it there because I have the keys And that makes sense to me I don't have to have an issue where there's a there's a run in the bank Then you know if it does become insolvent some of that not that I'm saying it is but I'm just saying if you don't like these optics You know like I don't know something else and maybe I feel this and that take it off And that's it. That's a that's as simple as I can possibly put it I don't see and you have to really ask yourself right now Is it worth the yield that I'm getting from Celsius? I mean you may love them, you know, but don't marry Any certain investment We're not here to hit our golden anniversary. We're here to make a profit So if that's it then get out of there and that's all now if you think yourself You know what trust these guys look pretty good. And this is just fun I'm gonna it's up to you me personally I don't keep more than three percent on any certain exchange or any type of centralized place And I stick it just my ledger and I can sleep very soundly at night So let me just think about that in the comment section and let's move on to what I learned at consensus. So Really what it comes down to is this I'm gonna tell you what I learned and I'm gonna kind of go in the minutiae bit So here's what I learned a consensus Everyone is working on solutions Everybody and we got a long way to go the big difference between like a Bitcoin Miami for the people who were in Bitcoin Miami And who actually came to Austin They were it was a like a night and day a lot of a lot of it was a little bit of hype and Bitcoin Miami You can correct me in the comment section That's just how I I saw it and what people told me I wasn't there personally But a consensus every different breakout studio or different stage or different a little meeting room that you have It was everybody talking about solutions. It was very technical. Well, mostly it was technical But there's a little bit of ra ra. What was great though is that nobody was like This is a scam and that's a scam and I was just like, we're just trying to fix this thing We're just trying to get our the best way and you could have you know Ethereum section you could have Cardano section you could have us, you know near section and and everybody was just like they're all just there Going we're just here to see if we can fix this or make a resolution. That was great It was actually refreshing just tired of hearing this is a scam and that's a scam So that was nice. So everyone's working on solutions and because of that we got a long way to go We are like I said here. We're super super super early and I can just I'll tell you a story in a second, but adoption in my opinion is still super weak. It's weak. It's weak sauce It's outside outside of our bubble We're not really I mean we're making a little traction But adoption is still weak if you go outside your bubble and talk to people like of NFTs like yeah, I heard apes I don't know what it does. Okay. Have you heard a defi? I don't even know what a defi is. Have you heard a Bitcoin? Yeah, I heard of that but say if there am I don't know is we got a long way to go and when people say no No, we're like we're like way far ahead. You have no idea what you're saying trust me We are super early and we got a long way and adoption is weak That's just how it is and even people can say but Rob. What about I'll sell it over those countries How many people is that globally? Yeah, so yeah, we're still got a long way to go and This procession is needed to flush out all the junk products that are there and then what I saw personally was this I saw people just walking around and this is when the market was pretty much crashing And everybody's just like no big deal. I was like, what do you guys think? I would just talk to just random people like oh, yeah, we know it's gonna go down But we don't really care because we're for the long haul and that was the whole mentality because of all the different people that we were listening to and interacting with very smart people like We're just here to fix a problem and that made a lot of sense. So a Couple of key takeaways. I saw was this is Brandon Ike. I think you can see him real well But he is the founder Creator of brave browser and he announced the partnership between brave and your protocol and they talked about a lot of different projects That was pretty cool. Also. I got this nice little t-shirt Which I called it the what I call it the non the non ghost chain T and It's like the only swag that I got over there And not a lot of things are being handed out so I was happy to get a t-shirt and that was it and There was a lot of different booths talked a lot of different people. That was it was fun and then one that I'd like to see was this was near protocol and When I say that they got a long way to go. I was listening to CEO talk and He's just like look he goes. We're you know, we're doing our best right now and We've got you know decent throughput and TPS and validators He goes we got a long way to go and the only way through this and he talked about sharding is like we got to get Do a better job of of doing the sharding and and and making strides with our developers and basically that's what I heard Everywhere, which was like we are we're doing our best But we really got a long way to go and I think it was refreshing to hear that then the constant stupid Hopium of like just tomorrow We're gonna be using this as the reserve currency and that's it and that's just not reality It's just not the way it is. So I know people will talk about S curves and how far adoption is I just don't see it right now. I think we got a long way to go but that's actually a good thing and then lastly I Took a look at the ecosystem for near a lot of different things being built on that and of course sweat coin I've been talking about a lot looks like they're gonna do their airdrop with our TGE in July 4th So so that was that was the big thing my big takeaway was like I said like it's just eye-opening to see just how much work has to be done and There's some projects that I was just looking around when I was there and I was like wow in a couple years I'd say about half of those products are gonna be gone And when you're walking through the aisles, so that's what I got We're gonna think about that in the comment section and then that leads me to my next and last point is Why we need a recession and why it's gonna be good for some not for everybody for some is for most is gonna suck It just is because you're not ready People just aren't ready. And that's really what it comes down to there was a there was a great video This is from value-tainment. I'm not gonna play any of it, but I linked in the description this gentleman Patrick bet David he's CEO of PHP insurance grew through a nationwide chain pretty serious entrepreneur Good stories that he tells and and he just talked about how you know This was needed and what he's gone through and it pretty pretty much echoed exactly what What I have been thinking and and seeing going forward. I lived through 2008 2009 Like a lot of you I think and I know the people that got super duper rich were the ones that were super duper patient And they had a game plan and they put into effect and it wasn't just like a six-month game plan It was like a it was like a five-year track. So let's go back here. I Want to talk about Timeframes because that's important as we go through recessions. So first of all I need to explain exactly Recessions how this all works. So business cycle dating committee of the National Bureau of Economic Research Jeez what an acronym and Burr Describes a recession as the period between a peak of economic activity and its trough or lowest point evolving a significant decline in economic activity That is spread across the economy and last more than a few months Also, if you can take a look at two dips in GVP for two consecutive quarters, that would also be considered a recession it is a It is a lagging indicator and I think we're already there and we've already hit one As you can see actually right here We've all already had a dip in GDP in Q1 2022 and so that's never March April May June So like in July, I feel pretty confident. We're gonna see another dip in GDP again I could be wrong, but if that is that's an official call for recession. That's good You know why because that means we've been in a recession already for six months. Why is that great? Here's why so if I scroll down here if we take a look at These dates This is economic expansion And this is not gonna do you too much too much good. Let me show you this real quick. This is actually even better This is the date of US recessions Recessions from 1967 to present now, of course, we've had the Great Depression 1929 Moving forward, but if we just take a look at just Recent roughly recent last 50 years or so and take a look at how many times I've had a recession What I want you to notice is how long the recessions have lasted and the gaps in between So in 1969, this is quarter one For so about a couple years or a year and a half or so 1973 quarter four About a year or so year and a half quarter to 1979 about a year 1981 quarter two three four one two about a year and So before that so you see a pattern. It's like a year and a half or so some are shorter a little bit He'll but here some are maybe a little bit longer, right Q4 2007 to Q oh Q 2009 some more than two years So roughly, you know a year year and a half some around there And then the last one we had was of course during a coronavirus But that didn't last too long so very short But I want you to notice these gaps in between this is what you should be focusing on Not this This is this is just a finite very small amount of time if you take a look at last 50 years It's these big gaps and those big gaps Are what these are economic expansions So between those times and in the recession which we just took a look at this is how many months We had an economic expansion 1961 to 69. It was a hundred and five months of economic expansion What could you do if you would have planned the right way and Bought a bunch of different properties a bunch of different assets stocked up in 1959 to 1961 and then you had a hundred and five months and Essentially a big bull market couldn't probably could have done some pretty big damage the same thing in 73 at 36 months three years 60 months in 1998 1990 and 93 months 1991 120 and you see how big this goes and in 2009 This is the problem that we had in 2009 2020. We had 128 months of economic expansion 128 months that is enormous. So if we take a look here, we're like, oh, no, the sky is falling and We're gonna have this this horrible recession. Yes, we are We are and it's good You should be super happy if you planned it right mean if you didn't see if you screwed up It's okay. I I screwed up before I screw up all the time actually But if you take a look at this and just go to yourself, okay, what does this mean for me? Does this mean that I'm gonna be in a recession for 20 years? No, it doesn't mean that historically It's a very short finite amount of time and in that time and like how This gentleman here David or Patrick bed David He says he goes chase that next zero or the next two zeros you go So if you're a thousand air, maybe you want to be a couple hundred thousand air And if you're a millionaire, maybe you want to be a multi-millionaire or 10 million air the time that happens is during these times So yes, it's gonna be pretty awful for some people because they don't have that right mentality They didn't plan it the right way. I said shoot I shouldn't have you know wasted it on this thing or are done on this thing and and maybe I should have Maybe cash isn't trash. Maybe cash is king and I can sit on that until everything Slows down and I can tell you there's a couple of people. We know here just in El Paso all they did in 2007 8 9 They pretty much just sold a bunch of their other assets in 2006 and Said I think there's something coming and then they waited around before everything just kind of knocked down And they bought a bunch of properties and they went from millionaires to multi multi multi millionaires Just in a very short amount of time and that I think is what's happening I can't tell you that is exact what's going to happen, but I for one See that there is some severe pain on the horizon for people who want to look at it like that I understand why you would look that but you have to understand that these are huge opportunities If played the right way and I can't tell you exactly how to do those not a financial advisor But I can tell you what I'm gonna be doing and one of those will be stuff like this now. This was My cash out I dear For crypto and 20 because I've been in since 2017 I haven't even fallen the channel I always tell you take profits because nobody ever want broke taking profits I didn't take as many profits as I as I should have but I'm not perfect But I took enough to do and pretty much fill out this plan where I'm still staking You know the cryptos that need to be staked, you know the Cardinals and Pope dots and all those good things I put 10% of my Amazon business as that just you know just kind of rolls along very easy 20% into real estate 15% as a little bit less than that into the land Masterworks was the one for a fractionalized share of art and actually that's more like three to five percent And I'm probably gonna increase that 25% was into stable coins five percent of cash And then of course my my Roth IRA, which isn't five percent It's probably like 2% because I can only donate so much or put it put so much into it And now that I've done this I feel pretty good Because I did the you know the hard work and even if you're like well, I didn't do that It's okay Just I just need you to get on the right mind track Which is I can look at the recession as like the worst thing of all time or I can look this go Well, okay now this is where millionaires get made and just kind of go from there I'm not telling you to buy the dip by the dip in the in the bear market Probably not the greatest as there's an accumulation phase like Ben Cowan's always talking about in the cryptiverse But I mean time will tell when that is and I can't tell you what it is And I don't think anybody can really tell you I can tell you time in the market is greater than timing the market And that is the big thing and then also of course for Tom masterworks. I have to tell you the question that I get a lot of is first of all First of all, here's here's what I own. I want a Banksy and a basket. I don't own the whole thing That's ridiculous. I'm not a super baller, but it's fractionalized shares of fine art And here's the thing it's registered with the SEC. So they are securities So there's no rug pulls and nonsense like that So just so you're aware and also if you want to get into it link in the description all that great stuff You can get your hands on like a Picasso for a couple grand and just like it just shares and stuff like that and then here's Fully realized revenue and the big thing is there's two things one It's uncorrelated as opposed to crypto and of course Nasdaq and the but the next question I keep getting is this but what about in the recession because will art do well. Yeah You know why it's because we're super rich people who are buying banksies and basquettes and Pablo Picasso's don't really care What's the numbers for the CPI numbers are like I want that and actually if we take a look at history This is actually from the people over at at masterworks. So just take a listen. This is 40 seconds They explain what happened in the last economic crash as far as artwork. Here you go The dot-com bubble really affected the markets in the US But the art market is so global that the bubble bursting didn't have an effect on art prices at the time really in a way That was measured by the indices in 0809 We saw the the highest correlation factor ever which was roughly 0.5 So the art market declined roughly half as much as the S&P declined The art market was impacted in terms of the aggregate amount of sales volume that came to market But what we also found is that the private market So this is amount of the market that transacts away from the auction houses among dealers and art fairs continue to be incredibly robust because you're really dealing with the wealthiest members of society globally They're actually able to purchase the works that they find interesting at whatever price regardless of the economic conditions That's pretty much it. So look just so you know as a reminder. I'm not telling you put, you know a thousand percent. I It's around three two to three percent of my portfolio is there because when one goes up I'd like our one goes down like another one to go up and vice versa That's the whole thing with one correlated and that's just what I'm doing you can talk to those guys and go from there So that takes care of that now Let's finish up Let's finish up with some good humor stories. I know I just gave you I guess I gave you a little hope him wasn't too nice to tell you that there's gonna be a recession, which there is but I met a lot of great people at at Consensus and we had a there was a nice little after-party with people from sweat coin and near protocol and it got to Talk to the CEOs and CMOs and then the next day. I got to meet my man, Simon I've never met Simon you from StormX ever and we always talk on Twitter and and we do like zoom meetings and things like that or zoom Calls and he's on the show sometimes. I get to meet him in person so I was like great so it was me and a couple guys from my trust and Simon and we went to this taco shop right down from right right by the auditorium and Good meeting gets a meeting had some laughs and Simon told us an inside story, which I cannot tell you because Whoo, they are spicy. So We get up and Simon's like I go to the bathroom Simon takes off And I was telling Daniel like I'm like hey, let me get the bill. He's like no already got it I already got the bill. It's paid right there and it was paid. I saw it. I'm like, okay, cool Thanks, so we also then we all walk out and then like 10 minutes later I get a message from Simon he goes hey, man. Thanks for sticking me with the bill. I'm like I don't need to talk about he goes. Yeah, he goes. No one paid the bill so I had to pay it I Go down did you pay goes? Yeah, I paid so we had it So I already took off because I'm here and I'll pass on now I drove straight and Daniel had to go back there and go what are you guys doing? So they made Daniel and Simon pay the same bill and then it was just kind of funny because it sounds like This is the first time each of you stick me the billings like I'm just kidding. He goes I just paid it doesn't matter. I thought it was funny. So Simon. I owe you a lunch Or something better than the tacos. I'll see it Caesar's in Las Vegas And that's what's going on. So look everybody that was a little bit long a lot of things were going on right now I do want to say thanks for coming on a Sunday. Appreciate it If you liked this video thumbs up and subscribe all that good stuff now if you're so inclined to Let's do a little Q&A and we'll go from there just so you know if you're watching this The recording the Q&A is it will be in a separate video because we chop things up because no one likes to watch an hour video But for some reason they're okay watching a 25 minute video of news and the 25 minute of Q&A Human psychology what are you gonna do? And that's what's up. All right The comments up. Let me go to the top so I can see it great question