 News my name is Rob and we got a ton of stuff to go over so let's just jump right in We're gonna talk today of course about what's going on with the market and how it is down yet again shocking And we'll talk about we'll kind of dig into it The CPI numbers are gonna come out tomorrow at 8 30 a.m. We'll tell you why I am not buying any Bitcoin For a little bit of time we're gonna take a look at trueflation and how we're really all connected take a looking at the macro And we'll take a look at a report from realtor.com Which takes a look at the housing market here in the States And I got to tell you there's some bad news But there's also a little bit of good news around the band and then we'll take a look at the crypto Which Celsius is paying off more debts that is fantastic, but I gotta tell you guys it's time to make a call It's time to to jump in and make your voices heard We're talking about how to do that and then we'll finish off with everybody's famous or favorite part clown news scammers and Crypto from IHOP and then we'll talk about What's up with this t-shirt? I'm wearing so we'll get to all those things but first let's take a look at what's going on into The market itself so today Markets down again. I don't think it's as surprised anybody especially with the CPI numbers coming out It's and of course the feds gonna come Week after that and pretty much raised some basis points to about 0.75 to 1 I think it's 0.75 or whatever But here's where we're at today our market cap is yet again below 1 trillion as we plummet to 924 billion but remember we were inches away from the former bull run in 2017 for the market cap of reaching 840 or 860 billion and we're pretty close that again So expect that potentially to happen. I don't have a crystal ball, but I can tell you I think Personally, I think things are going down Bitcoins down almost 4% if they're in almost 7% that's a quite a dip I must say and then any big dippers out there the Lido-staked ether man. Let's hope that doesn't get deep egged 1034 to 1075 oh That is not good. That is not good for the market that deep eggs Watch some fire inverse fireworks and that's what's going on the market So a lot of things to be concerned with and of course How would we look as far as Nasdaq? Yeah, we're still coupled up But they're not down too much point zero six seven as opposed to us at negative three percent So that's what's going on the market shocking. Let's talk about this Which is why I think some people are here. You may have stopped by for CPI numbers. What's going on? Let's take a look at what we know Not with respect lame, but what we know. So first of all This is from the US Bureau of Labor Statistics. This is when the consumer price index data comes out Which would be tomorrow? So for the reference month of June, that'll be out tomorrow June July 13th 830 a.m. I believe that is eastern center time. So correct me in the comment section So just so you know if you're waiting for for that I am personally waiting for those numbers to come out and I usually I did this last time I just waited for the numbers to come out I thought they were gonna suck they sucked and I just said okay instead of dollar-cost averaging every day What I'm gonna do is I'm just gonna wait until these numbers come out And if they're just atrocious in which it would look like potentially it could be Then that means that inflation doesn't under control Which means that of course the Fed will come out be a little more aggressive Maybe they go a full point and at that point I believe that the markets will kind of flip out and be a little bit irrational You know start selling more things. That's just how emotions work So what I do is I just kind of save everything up and just wait for that report when that report comes out I go well is it bad? Well, I'll just wait a little bit for For the market to go down and it will and I'll just buy when I think it's an appropriate time now If that if it's the exact inverse CPI numbers come out and for some reason everything's fantastic Then I immediately buy and just go well at prices will probably go up and that's what I have So that's what we know as far as the times and the dates But here's what of course CPI is a measure if you don't know and I got to tell you Between us I never paid attention to this stuff before I got into crypto never I had no Clue what these things were I didn't really care about them inflation would just some magical thing that happened And it was because of crypto that you really do get a in-depth Education into the financial centers and the financial happenings going on in the world So again, I didn't really want to know about it, but here we are CPI numbers Is a measure of the average change over time and the price is paid by Consumers urban consumers for a market basket of consumer goods and services such as food energy and all other items less food energy But the one thing I want to really drill down to here is energy and energy services 16.2% energy commodities. Let's just drill down real quick So you have electricity is up 12% natural gas This is gonna play very important factor when we start to talk about natural gas in Texas and Bitcoin miners Shocker it's going up And what's happening in the world so we can just see that right now? Historically in the past things have been going up and I think we all know that and There's a great website. It's called app.trueflation.com. I linked in the description. You can check it out What's great about this is it uses 30 data points. It's free to use nobody flip out and go You know, what are you talking about Robert? I get paid. No, you know the pay for this 100% free. It uses a chain link To pull outside information as that's what it does as far as being an oracle and these 30 data points gives us What one might consider a a more? Accurate look at what inflation is and I can tell you right now. I think we're almost at 12 percent. However We were as high as where was it Well back here in March almost 11 and a half percent, but as time has gone on especially with the Fed Raising those rates like we're at right now according to this 10.37 or 10.21 percent You want to go all the way 12 of July? It's not bad and that could mean that maybe CPI is working however, there is a catch and You have to understand that even though the CPI numbers come up the Fed raises the rates They have really no control over supply chains and things like that. However, they'll probably take a little bit of credit for this This is from oil price comm Oil prices crash by more than 7% on demand destruction fears combination of economic uncertainty and new COVID lockdowns in China, which we talked about last week Sent oil prices crashing by more than 7% on Tuesday morning. That's quite a bit So of course the vets like that's all us, baby But in reality, maybe not so much So that just takes a look at that snippet now, let's get into the energy costs and this is affecting me That's why I think it's important Just kidding. We're not really so This was a great article on July 5th, and I was pretty oblivious to this actually and I've been saving this one for right It's just the right time and it really just goes to show you just how connected everything is in In the global economy and we're gonna go through a lot of different factors. So just check this out Texas is facing skywrecking skyrocketing home energy bills as the state exports more natural gas Why the heck is it doing that? Just keep it here But it's exporting a lot of natural gas and we've got a ton of that We got a ton of oil to natural gas wind solar kind of and this what's going on John Bellinger VP at Texas Retail Electric Provider Champion Energy says people are gonna be shocked This is a 50 or 60 or 70 percent higher than what they've paid before Electricity is going up. I'm waiting for the bill. I'm just not sure it's real the people yet If it's not it will be very very soon when the bills hit this summer and those are coming right now my friends And it's not just Texas. It's all over. This is why What's driving the elevated utility bills have primarily been driven by the price of natural gas Which is shot up more than 200 percent since late February. Why is this? Why did it go up so much? Did it become scarce? No, well kind of because Russia a top gas producing country invaded Ukraine And screwed up the energy market system. That's pretty much what happened Since the war in Ukraine began Texas has been exporting more natural gas than ever before sending much of it to Europe as Many countries trying to wean themselves off Russian gas. Look, we got to do what we got to do, right? We got to help out our European allies and ship a ton of natural Natural gas over but you know what? That's just how it has to be for a while Congress lifted a life a long time ban on exporting US oil and gas in 2015 Which opened world markets to Texas oil and gas producers my question for you or for everybody else is I Wonder if these these exports if they're Taking advantage of the situation. I mean we've seen that with with all the producers, right? Especially in the gas stations. They There is a margin for what it was they may say like well the production has gone up 1% and of course Distribution has come up 1% but we're going to increase that price by 10% That's not the margin. We're talking about you're just price gouging. So the question I have is Is the price is going up that much because they have to export so much or they just taking advantage of situation and That's for People about my pretty great ask to answer People are lining up around the world to get our product said Ted Staples present the Texas oil and gas association. So How we see the bills and again, even though this is Texas this will happen in the entire Country and this will happen globally because as the price goes up for exports the price goes up for everybody else I'm sorry. That's how it works because we're all connected. So high rates could linger for months or longer years This actually does benefit from Texas and this is the this is the flip side to everything for so when one side Gets kind of screwed the other side actually Takes a little bit of an advantage not screwed. I shouldn't say that but it is the free market, right? Let's just that is what it is So it does benefit some Texas as a major gas producer the state creates a taxes typically benefits from high oil and gas in the form of jobs and State taxes on oil and gas production. So that's why I like I mean the state taxes aren't that bad here If you're looking at a business, this is the best place on Nevada Texas and Florida and of course play places like Odessa in the middle of the oil and gas has has this has had this inverse Relationship so for folks out there It's better for their economy and gas prices are high because then of course people want to have more jobs People come in they start to do the oil production oil production goes up Then of course the price is higher so they get paid more for the more production and so on so forth So that is just how it goes But despite the spike in demand the oil and gas industry isn't seeing major production growth because of a backlog of orders for vital equipment so this would have been awesome if we didn't have this supply chain issue and where the supply chain issues well, it's across the world and That's just how it is due to supply chain issues stemming from the pandemic There's also a shortage of labor across most of the oil-filled services and if we take a look at I can't I didn't pull it up Sorry, but I'm playing right now. It's three point six percent. So that what that means is that employers alike look It's not like You know, you're doing us a big favor to come in here. I know that you have your choices So please please come work for us. That's really what it comes down to and and of course If they don't have to work some people like I don't want to work And then that of course leads to shortage of manpower and of course shortage of manpower Then we can't do the production the production drops off now We have a drop off people over in Europe can't get the energy and there's a huge crisis and it's just again everything's connected We've seen it for several quarters now it's a struggle to get qualified people we know okay Public utility commissioner chair Peter Lake appointed by Governor Greg Abbott after the winter storm to leave the agency in change of charge of ear cut He said the grid operator is no longer prioritizing provider providing Texans cheap power And it was cheap here because we live in Puerto Rico and we vacation here in Texas Let me tell you it's super expensive in Puerto Rico and here it's dirt cheap Its main focus right now is the grid's reliability Conservative operations add costs. So as we've been covering here for quite some time There was a big exodus of people or miners from China moving over to states like Georgia New York kind of and of course, Texas and we've got a big swath of Bitcoin miners here What does that mean for them? Well, this is awful, right? Because they have to pay so much money electricity Not really and here's what it gets interesting. This is a deal That's Came through Let me see this is Chad Is that vice president chief commercial officer riot riot? Blockchain producers or riot miners and here in the great state of Texas And he says this on Saturday at 8 a.m. Rockdale Curtail Rockdale is where they're located curtailed all the power To help the grid battle this extreme heat the power made off until 10 p.m So you're looking at 14 hours team riot blockchain did it again What does this mean? Did they just turn it off because of the goodness of their hearts? Well, yes But also there is a nice economic incentive for them to do so when they came to Texas We knew it would provide jobs and opportunities, but also what it was great for they go We know we're gonna use a lot of electricity. Here's what we're gonna do in the times when there is peak power usage We need you to turn it off all your Bitcoin miners and just for doing that will pay you to turn them off And that's exactly what happened now I reached out to Chad and I said hey man I just sent him a text and he come on the show today and explain what's going on He said I would but I'm traveling, but we'll do it sometime this week. So We'll have Chad on he'll explain exactly how it it works, but in all honesty It's actually a pretty good deal for Texas miners and then that leads me to a little my next point And this is all about energy and the different downfalls that was going on this was a tweet that I saw and again Just because it's a tweet doesn't mean it's it's like gospel. These are tweets. You got to look it up Peter Sweden says this is bad energy rationing now has arrived in Europe in parts of Germany hot showers are being Rationed and indoor temperatures reduced to 17 Celsius a night hot water to some schools and gyms have been shut off Why is not bigger news and I posted this and people were like wait I didn't hear about that and then some and a couple people said I just asked my parents who are in Germany. That's BS It could be because when I took a look here Top stories. I just see the EDF boss ones of possible energy rationing EDIF boss ones of possible rationing situations more than dramatic Germans rationing hot water Potentially so I'm like well, who do I really believe well great news I know this guy his name's guy and he runs this YouTube channel called coin Bureau and he actually lives in London and Europe and he talks about Europe's biggest crisis is here. How did this happen? And it's a fantastic video about Just how not incompetent but how government didn't take action in time enough For the macro crisis that is going on with Ukraine how that affects gas prices gas shortage The different aspects is going to happen with the Ukraine war dragging on and nuclear power and When he talks about this, I gotta tell you I had to do a little research And I linked three well three videos one is guys video where he does talk about this exact same thing This gentleman talked about how they are rationing these types of things Also, there's a great video. It's about nuclear waste because everybody's up in arms about nuclear power I got to tell you after watching a couple of these videos. I'm like why why have we not done this more? We should have done a lot more of this and we've been hoodwinked We've been bamboozled and I think there's been some misinformation put out. Also. There was a great even greater video This is a TEDx talk. I believe Michael Schellenberger and Who is that guy? Well, he pretty much talks about a great nuclear power is so does he work for the nuclear power plant? No He explains why solar and wind farms acquire so much land for mining energy production And an alternative path to saving both the climate natural environment Michael Schellenberger the time magazine here of the environment and president of environmental progress research and policy lifelong environmentalist Changes mind about nuclear energy and his help save nuclear right blah blah blah blah Okay, so this guy used to be all of green energy. Then he's like look at the data is like a little bit different. So That is the macro event as best as I can explain it those three videos There's a link in the description Take a watch because it'll I think it'll change your mind a lot about nuclear power and just what the crisis that is coming To europe and potentially globally. Anyhow, let me just think about that in the comment section Let's move on to some more bad news Sorry, sorry, sometimes I don't know why you guys even show up because all I do is just kick in the teeth and give you bad news But it's the truth So This is actually good and bad news. I shouldn't be like that This is from Realtor.com. This is Sabrina Spiano economic data manager. I think I nailed that one And we're not going to read a bunch. It's going to be a graph But I want to just make some distinctions here before we before I move on and and talk about where I think the housing market is going Uh, I had a talk today With a gentleman who Let me see here Michael and uh, he had beat me in the sweat coin challenge And we did a portfolio review And we were talking about the housing market. He's like, what do you think you think it's a good time to get into housing? I'm like, no, this is like the worst time to get in housing But just wait watch this video today and maybe it'll give you some some insight so Realtor.com put out this study Or just data tracking and just you know national inventory of active lick listings Increased by almost 19% over last year. Why is this important? so It's just like bitcoin and scarcity the more scarce things are the more value they have right so in November December 2021 in january february 2022 is the greatest time to sell houses me and my wife sold two houses in Two of our houses in in houston because the prices were ridiculously high and that's the great thing about inflation unfortunately so When you have an increase in supply What does that mean? Well, there's a lot more supply here And the demand may stay the same so the prices may come down But there's two sides of this so to make this a distinction Active listings increased by almost 19% over last year while the total inventory of unsold homes Which includes pending listings Still declined by 1.4 percent. So what does that mean? So unsold homes Let me bring it down here The total number of unsold homes nationwide This includes active listings. So like the thing we just talked about 18.7 percent and listings in various stages of the selling process That are not yet sold what that means is that when you go take a look at a house and you go, okay I want to put an offer down. Okay. Well, let's put the offer down and then that is under tight That is under contract which means until everything closes. No one can really come in there and bid on it There may be provisions of different states. Not for sure. It's how it is texas, but whatever So when you see these types of things, there's actually that actually looks pretty good. However Look at this again When supply goes up And demand stays stays the same or goes down. That's not good for your inventory So if we take a look at this all these squiggles, don't this is just different years blue is 2017 This was the active listings count. There's a lot 2017 and 2018 and 2019. There's a lot a hundred 1.2k 1 million 200,000 a lot. It's a lot of houses available And in 2020 I just started to go down What was going on? Well, things were doing pretty well until the pandemic And then of course, here's the green 2021 And that's when everything was going, you know, pretty far Everything the the actual supply was going way down because Everybody was buying things up And then of course because people like me are selling and then of course here we are in 2022 and you can see right here Year over year it has gone up a little bit But the big number is this if this number we're at 600k keeps climbing up Right and the Fed keeps increasing the rates Right now the mortgage rate of an apr and upcentage rate over 30 your mortgage is somewhere like 5.6 Creeping up on 6% As time goes on if they keep raising those rates and you still have more supply That's not good for the market. That means it's going to be a lot of people just sitting on houses And they can't sell them Here's the pending listing count and you can see here that it actually The pending listing but it went down a little bit. That's good, but here's something more interesting Newly listed homes Newly listed homes see it's hard to see but that 2022 What does he see here? It's over It's almost above 2019 when things were just going crazy and it's creeping up slowly Over the last one two three four five months, which means in probably a month or two. We'll probably be over here And we'll see a lot of new listed homes as the rates go up Here's the days on the market Actually, it's went down, which is pretty good because people are still buying but again, I think there's going to be some problems Median listing price. This is also an issue because in june 2022 This is the highest they've ever been for the median listing price $450,000 in america. I don't know where you're at But at roughly half a million dollars is the average price for a single family home And if you're going to get apr on top of that, I'm sorry, it's going to be bad situation So let me know what you think about that as far as the housing market I see problems on the horizon and I mean my wife are not buying any real estate right now That is not financial advice. That's just what I am doing. So let me understand about that in the comments Let's move on to our last piece as we talk about a little crypto action. So good news Celsius repays 130 million of loans as crypto lender fights in solvency. That's great I mean Celsius has been doing What they should be doing paying off the debtors, but there's a catch and the quiet the catch is I'll get to that very last Which is a question for you. So Crypto lender Celsius network repaid more loans Monday as the company battles, right in the past Celsius repaid about 78.1 million That's nice worth of usdc stablecoin to lending platform ave It also repaid 35 million to compound since july 1st Digital walls belong to Celsius paid back more than 300 million Worth of debt to various platforms including maker according to nanson and nithoskin data 300 million Celsius still has about 120 million of debt outstanding on ave and compound when I said again Still has about 120 million of debt outstanding on ave and compound according to zapper On these essentialized lending platforms collateral gets liquidated automatically blah blah blah, okay, whatever This is the question Celsius's sources of funding to pay back the loans are unclear. Here's my question to everybody Has anybody had their withdrawals turned back on? Have you been able to take out your crypto? My question is is where Is this ability to pay back all these loans coming from? Is that from our accounts? Is that from something external? I don't know Um, I'm just gonna leave it up to you to decide what that potentially could be and then tell me because I have my own theories But I gotta tell you I still haven't got that email to where I can withdraw the 3% of my portfolio left in there Just something to think about and yeah interesting about that in the comments and then lastly Make your voices heard, okay Simon Dixon came out had a very long Interesting conversation on his channel and a lot of things were brought to light That you just have to watch it I linked in the description You can check it out and it looks like there was some shenanigans going on Also, whether you believe in simon or you believe in celsius and alex michenski is not the point the point is you If you're just gonna sit there and let things happen, that's fine. You can do that But just know you're gonna get steamrolled so why don't you make your voices heard Because you can tweet at celsius all day long and alex michenski I don't think they're answering you because well, they can't legally However, you can go to simon's website and say look here's what's going on Bank to the future capital Sbc holds over 5% of celsius shares and therefore we believe that this allows us to call a shareholder meeting As part of our statutory shareholder rights that legally cannot be ignored by the celsius board whatever whatever is left of it What he's asking you to do is go look How do you want to proceed if you hold crypto? In celsius whatever it is. How do you want us to go? Do you want us just to back off and not say anything? Or do you want us to go in there and do some other things that we have talked about and he actually talks about that in his video Whatever it is. I'm not telling you what to do. I'm asking you I'm begging you to go to this website and fill this portion out and fill this out Provide details of any support you'd like to give What would you like us to consider in a recovery plan? And submit it to them because that way when they go the board they can go look it's not just us talking It's your entire community talking and this is the way that we get the voices heard So whatever you want to do is great. I'm just begging you to do this links in the description And let's uh finish up On a happy note I know I know i'm not the most Lovable person sometimes, but uh, I try I really do And this comes down Whoa Let me turn that down On us So I do this because hopefully not a pair of clowns, but How often have we been talking about scams and things like that? So it just comes out of this This is clownish. You shouldn't be you shouldn't be falling for this if you follow this channel You should not be falling for these types of fishing attacks uniswap users lose 8 million worth of ether And fishing attack the attacker and types users with a fake uniswap airdrop message. Look See those rules underneath there don't invest more than you can afford to lose. It's all going anyhow. Everything's a scam Trust verify don't trust if you treat it like a scam. It's gonna be a lot better for you Don't leave any exchanges. Don't use any leverage and take profits along the way. No one broke taking profits So this is what happened There was this new address for stolen assets are sent to people like send your your assets here and we'll give you a Bunch of crypto which is makes no sense to me or whatever So far people have have oh so far they have spent eight and a half ether transaction fees to reach 74,000 addresses and they have 90 eth more to spend This is what happened and this is what people got taken for interacting with the phishing message However gave the underlying smart contract permission to transfer assets out of and gain full control of the user's wall Here's what they do They contact you in some way. You want some want some crypto some free stuff We'll send us one eth and we'll send you two eth or whatever else it is or give us your uh Your your private keys. Let's see. This is your mom. You can trust me They're all scams One person who was providing over eight million worth of rap bitcoin and usdc to uh rap bitcoin usdc liquidity pool Unknowingly interacted with the phishing message The attacker was able to gain control of the wallet exit the liquidity provider's position And transfer the token other walls that guy just lost or gal lost eight million dollars worth of rap bitcoin Just for something goofy like that. So again, everything's a scam until proven otherwise and lastly This isn't it lastly I don't know if this is really clown news, but it makes it is interesting Uh iHOP international house of pancakes A subscriber sent this to me yesterday. That was pretty funny Uh, you know when you sit down and the waitress comes over and like what do you want? And then there's this little thing is your ketchup bottle, whatever else? You can earn one pan coin now How do I earn rewards? It's simple every five dollars spent at iHOP earns you one pan coin. What's a pan coin? A pan coin is a crypto pancake You can trade three pan coins for a short stack of three pan it does sound delicious I gotta tell you and what else can I redeem trade pan coins for body of tasty assets? In the stack mark the stack market. Oh, that's good Open your free account here Hold on Sorry Sorry about that So that's how you do it to me. I don't think that's more of a crypto currency and more of like a rewards program. So, uh, I just thought it was funny. So that's your clown news for the day. Hopefully it Gave you a smile or scared the hell out of you one of those two because I know some people don't like clowns. So, sorry And that's it and then lastly uh Why am I wearing this shirt? Let's see and it's because Let's get this out of here. No this one here This shirt the nutbuster video. Uh, it's the dammit. Can't see it again. Sorry. So it's the The, uh, NFT from these nuts Can't say that without cracking a smile. So these nuts These nuts is a NFT platform And I love these guys. Uh, I've I've had my these nuts NFT Hashtag bofa for I don't know Seven months eight months nine months and it's not gonna get rich of this and I'm not promoting them for you to buy it but uh One of the these nuts community members sent me this t-shirt and I said I'd wear it because I thought I was hilarious and it is And I linked this in the description You can find his guys website discord these articles instagram And they're great if you want to take a good laugh and have a good time. That's it You all know that on this channel, um, my dog chewy He's been with me for 14 years and when he was diagnosed with lymphoma and my wife was um She was traveling so I didn't want to tell her during the time and uh, that was a night that I Found these nuts and I won the discord. I laughed my ass off It was the greatest thing And I love those guys just for that moment. So I just wanted to say thanks for the t-shirt. I think it's hilarious I'll probably wear it today. I gotta go be with some construction guys Uh, do do some more builds in the sports facility and that's it for today. So look, I know a little bit long Let me turn off this annoying music. I like it too Pause and that's it for today. So look if you got to take off get out of here I appreciate you stopping by