 Because everybody today we got a lot of things to go over so let's just jump right in the first thing We're gonna talk about is how earnings are down markets are up and the Fed announcement just came out and said hey Guess what we're gonna raise the rates to point seven five Which is I was kind of hoping for for a full percentage point, but here we are also we're gonna take a look at or talk to What I call the Simon indicator Simon you is gonna be here from storm X He's gonna talk to us about exactly what's going on then we're gonna talk about how take a look at did we bottom from a piece from arcane research as we see hundreds of thousands of Bitcoin being liquidated and then last thing two last things is I have to ask the question did Warren Buffett Gaslight us as it's come to come to pass that he invested into a crypto heavy bank and What that means moving forward and lastly we'll take a look at what's going on with Doquan as the news titan So first of all, let's just take a look at this the earnings Earnings are down which I find pretty interesting, but the markets is actually up So it's kind of crazy, but that's why I got the sign indicator to help us out. So real quick This is what we got today or yesterday. I Thought the earnings report were gonna come out pretty low and they were they missed not by a lot But I thought well if that's gonna happen then we're gonna see a little reduction in the in the our markets But no seems like everybody's pretty darn bullish and you can see right now We've were holding above 1 trillion, which I thought for sure we would go below But that's not the case bitcoins up in the last 24 hours four percent. Let me just refresh this I wonder what it is in last hour. Ah, there we go. So with the Fed announcing 0.7575 basis points everybody's like great off the races now all they do is we're about August So last hour 1.4 3.3 man 10% for a theorem anything anything drop Ah, yes, tether and USD coin drop because everybody's getting out of their stables and buying a bunch of crypto Which is what I am going to do today. Actually, I'm here with you Actually, I think I'm gonna have Simon do a lot of things so I can put in my orders Damn a theorem classic 20% so that's what's happening in our market. Great. Everybody's happy. Everybody's having a good time Fantastic S&P 500 up NASDAQ up Let's see earnings calendar. This is what I was talking about. Yeah, Microsoft and alphabet. This was yesterday And we take a look at them real quick You can see that's where is it the earnings? Themselves missed by just a little bit Estimated EPS earnings per share 2.28 and reported was 2.23 and it was the same thing for For alphabet or Google and of course Microsoft is up Google is up And of course the Fed comes out and says hey 0.75 points. So here we are and I Looking it's looking pretty good. Even with the true inflation rate I know this is people don't really impressed with the 9.85 percent But this is a lot better than the 11 almost 12 percent it was and right around March So that's what we have for The markets and the announcer anything else. Let's talk to what I call the Simon indicator So he can tell us exactly what could potentially is happening now and in the future. So Simon Founder of Storm max from 2014 back on the show again. Thanks for stopping by buddy. Hey, Rob. Yeah, thanks for having me Yeah, so that was that was everything in a nutshell a lot of information thrown out But you've been actually been pretty bullish, which is which was kind of create not crazy But you were pretty bearish beginning and then all of a sudden you're like This is why I call you my Simon indicator because you're kind of like the canary in the coal mine for me I'm like wow Simon's a little bit more bullish than maybe I should be too. So what we got? Yeah, I mean Especially with crypto, I mean we have a lot of macro stuff going on too But 40 to 30 K was Luna selling off everything and 30 to 20 K was a lot of it was Celsius I mean if you follow whale trades or some of the on-chain activity, you could see Celsius was sending a ton of crypto to FTX and every time they did so we saw a little bit of a correction and then a few days later a few hours later They would pay down their maker loans or Avi loans that they had and then they just eventually Just paid it all down. So there's no more selling pressure and then they formally declared the bankruptcy So I don't think there's gonna be any force selling from there So and then we saw the court filings from three-arrow capital and we saw exactly who you know Borrowed from them and who was the biggest exposure. So Genesis was probably the biggest one But it seems like they're fine because you know, they're back back grayscale and they you know have some fun So it doesn't look like there's gonna be any more contagion. So that's probably why you know SPF Sam Baker Friedel. So probably said like a you know, we're probably approaching the bottom and That definitely makes sense from a macro perspective though. It's just like a lot of the things have been priced in like you're talking about missed earnings and stuff like that and Snapchat's earnings were really bad and it tanked their shares and sort of the market was You know freaking out in terms of like, oh shoot, is this like a really bad recession? Right, don't be specific and they're trying to identify that but then when Google and Microsoft came out They barely missed their earnings just by a little bit, which is not too bad So people priced in stuff. That's a lot worse, right? So that's why markets are growing up and I do think it's gonna be company specific I think Facebook will probably miss quite a bit just because most of their ad revenue is gonna go down after the Apple's privacy policy that changed Yeah, so as long as it's company specific not an industry-wide thing I think we're looking better and my biggest thing was Yeah, outside the whole, you know Celsius and foreselling stopping for turning bullish. The second reason was the fact that markets are in a price in that rates will be You know, the Fed will be using the rate hikes as of like Q1 or Q2. So We we started seeing this in Asia. So in China, they're They're trying to bail out Evergon, which is a lot of this mortgage Provider there and a lot of retail holders, you know, provide that they just bailed out that bank Where people are protesting because all their funds got locked and you know, Japan's trying to ease their rate hikes as well, too Stuff like that and I think overall Western countries will start doing something similar just because this inflation is so different from the 80s where, you know This was caused because we printed 80% of the, you know, total US supply in the last two years That's right. Yeah, inflation is here to stay and I think the Fed they've just been really slow At realizing the truth they were, you know, denial that inflation was transitory for a really long time and then they finally admitted it like two months ago, right? And with this as well, too, it's just gonna take some time, but the market is starting to realize You know that the Fed is gonna have to ease down and otherwise it's gonna be a straight up depression. So So you think so so you weren't surprised with this with this point seven five percentage increase or 75 basis point increase You're like, yeah, that's pretty much what I thought because if they went you were thinking maybe the full point would have crashed the economy Or I mean ash, but you know, you can share my DM. I sent you last week, right? That's the exact same thing. I said 0.75 and then we're both Like exact quotes Yeah, it is because like I mean it's like the government officials can't leak anything officially, right? but a lot of them are really desperate because they're losing the public sentiment and You can see sort of from like president Biden's tweets like he's trying to calm everyone down He's like gas prices are down five cents like 10 cents small amount but just to like, you know calm people down before midterm elections come and You know, they're he's subtly hinting like oh CPI data is like a month late So the CPI data that we had like a couple weeks ago You know it looked pretty bearish, but the one that's gonna come out for this month is probably gonna be a lot better So I'm starting to think that the market will start reversing Unless like and the tough part is like there's so much news that's been happening recently And it's it's sort of like you have to just watch everything on a week by week basis. So you can't Be like oh, I'm a permable or I'm a perma bear But as of right now like as of today things look good But if like China invades Taiwan or like Russia drops a nuke like that's definitely gonna change, you know Everything right so it's it's really tough That's why it might be so you sort of see me like flip-flopping and stuff that just based on new information that comes out That's why I tend to not you know give trading advice I just like blatantly say what I'm thinking right now on Twitter Simon, this is why this is why we're friends because you just told me all the great bullish news But at the very end you're like well There's also this other this other possibility where China invades Taiwan or a nuclear strike or you know, of course Ukraine war just drags on forever exactly you have to if if people are just here see on this channel people aren't here for Hopium obviously because I mean I've been bearish for so long that I think people get used to it I gotta tell you with the things that you've been we've been talking about it makes a little more sense about how things are going Which would actually lead me to my next point which you talked about the contagion and the bottoms and all those things So the question I have is this there was this great graph from arcane research and actually I stole this from guy over at coin Bureau first of all and It says it talks about this is a great chart 236,000 Bitcoin and known institutional Bitcoin sales since May Could have already seen most of the four sales liquidations because because look man You've been around forever since 2014 with storm x and you've known a lot of people coming through I know This was you know quite a bit of a of a hit But now that you take a look at these things that are going on as far as like the contagion the sell-offs and where we're going Do you feel like the bottom is in and now not that mean you can predict that that's dumb because we don't have crystal balls But just as like just a general overview. What do you think here? Yeah? I mean as long as The macro side is stable, which it does look like it's stabilizing again unless there's like a crazy war or something like that I do think the bottom is in And if there's any crypto companies that you know that hasn't been disclosed yet in terms of like Oh, yeah bankrupt and we got to sell billions in crypto unless those two things don't happen I do think the bottom is in but again like it's just every week new information comes out That's that's the part that makes it really challenging But yeah in terms of like, you know out of all my years in crypto The fact that we've absorbed like billions and billions of dollars in for sales from you know, all these companies that are going liquid Yeah, also the minor selling and people panic selling like Tesla selling and like there's been you know Surprisingly a good chunk of buyers on the other side Grouping it up. So I mean if it was like two three years ago and we had this much selling pressure Yeah, like $400 right now, like it's just there was so much selling in the past like three or months That it's pretty insane actually. No, yeah, you're right. I mean, but let's be honest between me and you If if Bitcoin went below 10k, that would be like a big present for most of us But to hit that 400, I mean that'd be a lot but look at this look at these prices are going out I I can see it and also before I forget this just came Across that we were talking about FTX and things like that FTX just came out and said That FTX stocks is now live for all US users and that's all 50 states including New York Puerto Rico and US Virgin Islands. What do you think? That's pretty cool. Yeah, I mean a lot of crypto people sure would buy stocks I mean right now the sentiment is probably low, but that's typically true in the bear market and I mean for me like I Tend to do opposite of what retail this so I've actually been scooping quite a bit of crypto at like these prices like 19 20 K But it's just like it's funny because the same guys that were saying, you know Like Bitcoin's going to moon at 68 K 69 K are trying to short the bottom like at like 1920 K and say all we're going to 10 K or you know 8 K and so You know you call me the Simon indicator, which you know I think you know, it's it's definitely hard to say because like I'm definitely wrong quite a bit time But I have this crypto youtuber. Yeah, I don't have like too many subscribers and I follow not you of course Oh, but ultimate counter indicator everything. He says it's like Kramer of crypto. It's actually pretty hilarious But it's like just typical, you know retail sentiment because like a lot of Like 80% of people will think like oh Like the market is not at bottom like things are not stable like all this other stuff But here's the thing right you have a bunch of really smart people that are trying to fix the problem, right? That's the factor that people tend to overlook all the time, right? so everyone thinks they're the smartest people in the room, but There are actually a lot of smart people with a lot of capital trying to reverse the situation and for hedge funds if 80% of people are short. It's a lot more profitable go long and liquidate them and You know just the other side and so like Dude, it's kind of like when COVID happened like COVID 2020 like I was this is actually a good lesson that I learned I was Asia like a few months before COVID and so I sort of saw like how seriously Asia took it and then I came back to the US and then US like did it take it seriously at all and I thought like with our poor health care system Like this is gonna blow up in our face and so I started shorting everything and then you know people started laughing at me whatever but then after like Remember it was like Tom Hanks and one of the NBA players got Oh, they got just tanked in mid-March and then you know And then I thought like oh, it's only gonna get worse from here But I held a bit too long, you know, that's when they started you know printing money and stuff like that And so I definitely could have made a lot more games had I thought that you know Government intervention would probably change the perspective a little bit, but sure yeah Yeah, but I mean look who's gonna hit who's gonna hit the bottom perfectly or the top perfectly consistently never gonna happen Who cares yeah, it's just like I needed to have that change in perspective like and that I was just too like you know focused on one side that that was like my biggest mistake and like having an open mind is really tough for most people I think just because like You're so focused in one direction like at 69k everybody thought we were bullish And I you can actually look back on my tweets too. I'm like, okay, everybody's way too bullish I'm a little bit scared now like I said that like right before it crashes well, too Look, I was and see that now this is the difference because people people think they're a smartest people person in the room I know for a fact I am not I know I'm not the smartest guy So what what I always just try to do is just be as conservative as I possibly can so like this Well, what I did a couple of weeks ago I waited for the CPI numbers to come out and instead of dollar cost averaging every day I've valued cost average wait for the CPI numbers to come out I thought it was gonna be high it was high and then I bought as the markets hard to go down now with this one I did the same thing I thought ah for sure for sure earnings are gonna miss and of course they did but not as much and I thought I Honestly thought there was a fifty-fifty chance of going between three quarters of a point and a full point and it didn't come out that way So what I said was I'm gonna do the same thing now I look at it I go well didn't work out the way that I thought so now I just put the orders in as you were talking Thank you to buy my my Bitcoin my theorem and some couple of other altcoins because tomorrow So you got to be careful of that Yeah, there's always look look there's always tomorrow But when I when I started just to step back and look at things I always say the same thing Are these is Bitcoin expensive right now or is it cheap? Our house is expensive right now, or are they cheap is land expensive or is it cheap? I just kind of look at that and go well in three five ten years when I'm still around hopefully I think it'll be okay So Hey, man, you never know you never know when when is your time? So yeah, that's what it is. Okay, so move on the next one And this is actually Some more bullish news for everybody, which is this Did more in Buffett gas like us on crypto as he invests into it. So what I'm talking about here is this right? here There was hold on real quick. I gotta Make sure my there he goes so there was this There was a story that we had covered a couple days ago how Barclays had Done a funding ground for copper copper.co and that's an institutional platform So institutions can get in and like they've got big big people like Barclays is a 1.4 trillion assets under management They have State Street when the oldest banks. It's a 4.2 trillion assets under management and a bunch of other crypto institutions So this is from Alexandra Huck. You don't follow her. She's pretty interesting person on Twitter and On 5th of July, she said hey Barclays stopped my payments to a crypto exchange to protect my money Which has happened to me in the past in 2017 2018 They got no problem letting me gamble to buy expensive things yet They're trying to protect me and then of course she talks about that's interesting Barclays Just snapped up a two billion stake in copper watch what they do not what they say which leave me to this thing This was an article and it's old Five months ago, and it talks about how Warren Buffett's Berkshire invests one billion in crypto friendly new bank now I Didn't pay much attention to this and because I'm like well He does these things every so often he invests into like gold money even though he doesn't like gold fine Whatever else but then it comes out. This was yesterday Brazil's largest digital bank new bank reaches 1 million crypto users after just a month So and they're also talking about Asset tokenization and a bunch of other stuff that was going on. So I thought to myself I wonder if Warren is changing his tune but remember even though that you know this this company got a 1 million users That's in Brazil and Brazil's got 212 million people. So don't don't think it's like the end all be all But the question is this Warren's been wrong before he pretty much told right to his face Amazon Founder and said hey, I don't believe in in Amazon. What's so what's what what's whoever Bezos? I don't I think it's a dumb thing. He also the same thing about Google Are these big companies behind the scene doing a lot of different deals that we don't know about or is this just one more? Simon indicator. What do you think? I? Mean, I don't know how actively he is involved in somebody's decision-making But I'm guessing with the billion dollars is probably you know He probably had some say but it seems like it's more of a fintech play more so than crypto It's just you know, they try to support all these crypto stuff But I mean at the end of the day like I'm sure his fund. I mean he has like probably so many different funds like tens or hundreds of funds and They probably have different purposes So I mean people diversify all the time. I wouldn't blame them So I don't his personal views might still remain the same But then from a capital allocation perspective it could be different because it's not really him that's making decisions His fund managers has doing so but yeah, like I said though I mean Warren Buffett's been like a very anti tech guy for like the longest time And then he bought like massive shares and Apple and you know all these yeah tech can be this well But it's actually playing I mean a lot of these like really successful people like they I mean they they gamble hard They bet big and then they get it right once then they become really successful right you could you know It's sort of like a tech entrepreneur mine or it's like investment mine like a lot of these really successful guys have one big You know sort of win and I think I saw an article where like, you know after Mark Cuban's exit Like every investment he had made was like net negative or something like that too But and like I like to you know He made a big big that that was right and then a lot of the stuff that he says was wrong I mean just because like your right once doesn't mean that you're you know gonna be right all the time And also like it could be very comfortable And you know you're already like one of the top richest people in the world You have to stay up to date with all the new technologies and the new trends like how many people thought the internet was a scam and There's all these videos of like you know people like oh It's too hard to use like no one's gonna use this all the stuff and then you know It's like ten years later. They're wrong and that people are too complacent Just like if you're not hungry if you're very comfortable You tend to just want to relax and not you know and very be very close-minded and that's that's the thing like for me I'm always really curious about like just learning new things all time like it's just like a hobby And so I ask a lot of really dumb questions like and sometimes I might have an opinion I already know the answer to but I just want to hear other people's feedback and I tend to learn Okay, this is how other people think or this is a different perspective. I haven't thought about and This definitely gets me into more an open mind and so I can have a clear picture of the whole You know like the whole situation and you look at like even history to like, you know, there's a war And there's always two sides to this war, right? So it's typically the winner that decides what what's right about, you know, like in the history books like Portrait, but then there's definitely the other side where you can portray like, you know from the other in it And it sort of gives you a unbiased opinion if you read both sides, so yeah, it's just He might change his opinion I mean you seem like chase Jamie diamond hasn't you know changed his opinion, but the rest of Chase It seems like they're super bullish on crypto So it's just it just takes time, right? I'm I open, you know people regardless of who it is like if they admit they're wrong and you know They want to join like I'm very happy like Kevin O'Leary was like the biggest Like anti-crypto guy for so long and now like if you go to YouTube all his videos are on crypto like it's just Because it gets most engagements or whatever, but it's he does seem like he generally believes it Well, he's going he's going hard with with wonder fi and buying up these different exchanges in Canada So he's got some pretty big stake in the game And I remember him talking about how his portfolio should be 5% crypto But then because of the the market how well it did and it ballooned at the 20% So he probably sold off. I don't think he talks about it, but it makes sense But like what you said there about asking the dumb questions I had a boss before I was working in a medical device and he would always say Rob dare to be dumb Go in there ask stupid questions, and then that's that that's the best way We're gonna really get in the door and do those things and that's true dare to be dumb It makes a lot of sense and in this and in this space I have a lot of questions because there's things move so fast. Yeah All right, so Simon, let's finish this up and then people can ask you a bunch of questions. Don't want Don't want apparently this is what's going on. So South Korea Slaps notification upon arrival on Terrorist oak one. This doesn't mean that he's so rest or anything like that But it's just interesting how that the the news tightness South Korean prosecutors investigating Tarlauna request the Ministry of Justice to place a notification upon arrival for Doquan and the travel ban on Tara co-founder Shin Yonson a Notification upon arrival as a measure where the investigative force will be notified of course South Korean prosecutors conducted a search and seizure on 15 locations last week As part of the Luna investigation including seven crypto exchanges. Wow shins private residents in Chai corporation Korean based payments and that's what's going on But I believe right now doquan is in I want to say Singapore I think it said somewhere on there, but he's not in there So the question is how many places does he have left to go and will he stand? Trial Simon. What do you think? I mean regarding trial? I mean, I think it's inevitable, right? And I think the question comes down to was your actual fraud or not. I mean The whole blow-up. I mean it did seem like it was unintentional I Didn't really get into Luna's is because the model seemed a little bit too risky Because it did seem like it was like a staircase up elevator down kind of situation And then that's exactly what happened, right? So it's just like they're running an experiment It got too big too fast and then it just kind of imploded and now a bunch Retail people got hurt and also a lot of funds and stuff and you know centralized platforms got hurt Which are hurt even more retail, which really sucks You're right, but yeah, I think the investigations will come out and determine throws I hope there was no actual fraud because there were definitely, you know genuine builders in the Terra Lutheran ecosystem as well too and You know after they come out of it I hope they start building other projects because there were a lot of bright minds What really does piss me off is if there was intentional fraud and China You know do like a pump and dump or stuff like that Which some of the other projects Definitely have Yeah, but I I hope for the best I heard how it's just Luna stuff already like imploded so I hope there's no more bad news that comes out of it Yeah, you and me both hopefully it's listening to the worst days are behind us So first of all before we get into the questions. I know there's an echo for some reason doesn't echo Mike No, not in your assignment. It's on mine every time I talk you're finally You're good to go. So Can't change that setting on here and I've turned everything down as much as I can but does not gonna work When you talk try that So does everybody here? Okay, there we go. That's probably what it is All right, perfect. Now we figured out. Let's ask them. Let's get to some questions. So look everybody That takes care of today's news if you want to if you got to take off get out of here Go live your life and have a great time and everything go buy a bunch of a crypto not financial advice But that's it for right now for that news part if you liked the video, we'll give it a thumbs up You don't have to subscribe to this every day, you know what to find me But right now we're gonna go in the Q&A and me and Simon will ask will answer all your questions to the best of our Abilities and we'll go from there. Gotta take off Adios. Now. Let's get into a little Q&A