 Hello everybody and welcome back to the show. I want to make this as streamlined as possible So let's just jump right in so today is the second day after we had that nice little calamity Which was coin telegraph and they released a little bit of fake news which caused the market to pump I gotta tell you the things that happened and followed was really quite surprising to me I didn't really think this would actually come about and Just so you know, I linked this in the description not gonna play this video, but this is One of the I believe this is one of the head of a coin telegraph where she talks about why this happened how it happened And of course moving forward. It was a very quite honestly a bad response She pretty much just says that the reason that this happened is because they have such pressure to be first that they have To get all this information out even if it's incorrect information I'll have you listen to it, but I don't believe this is how journalism should really go I understand, you know, I am in this industry somewhat as I try to get the most information out first and foremost But you have to really back it up with a little bit of of do diligence and move along from there If I gave you guys every single rumor that I heard on Twitter and all the different Chat groups it would be a real horror fest And I think everybody will be wrecked before, you know, you could shake a stick at it So watch that video. I'm not gonna get into it But the thing that surprised me from yesterday is of course we had the rumor that's black rock The ice shares the spot ETF was approved and it was not and we saw a massive spike and after that spike From yesterday. I thought myself. I'm like well This isn't gonna end well because people are gonna feel like they were bent boozled and hoodwinked And they were going to actually sell off. Well, they did a little bit, but look at this and Today We're still at twenty eight thousand five fifty six. I'm quite surprised I'm actually quite surprised that people stuck into it Even though they said well, you know, this was this was a false story So what it tells me is that there are people on the sidelines and they're waiting for whatever it is Whatever shoe to drop whatever Monstrous problem that's gonna happen in the Middle East whatever great grand Recession of depression is coming in I think people are just waiting for this to go down so they can pick it up a little bit Cheaply but once that spot ETF rumor came out like holy smokes I'm gonna miss the bus and I think they got into it and now they're just kind of sticking around to see what actually happens now I'm not gonna say that's like the best approach I think some of the things is and I can't give you financial advice obviously my financial visor But I think one of the problems I'm investing is just staying out too long and just paralysis by analysis And you're just waiting for that right opportunity to time the bottom perfectly or just somewhat 80% Well, and you kind of miss your opportunity and then you're kind of just playing catch-up So I see this as as very positive. Also, I will say that as far as like I thought there was a massive amount of Actual volume as far as trading, but we take a look at live coin watch calm You can see that trading yesterday. It was around 30 40 billion dollars Actually today's 30 billion yesterday was only 24 You would think that it would be a lot more for what happened But of course it was mostly just in Bitcoin all it's also shot up But not a a massive amount if we go back. I mean look even on August 29th We had shoes 20% more roughly we had roughly 41 billion dollars in volume And if we go back to July 14th, we had 47 billion and so on and so forth So I was a little bit surprised on that as well I thought there was going to be a heck of a lot more Volume, but that is what we have so when I take a look at all this It really comes down to the fact of people are expecting wanting and meeting this spot ETF and I've had my position and finally I've been backed up by Kathy Wood Kathy Wood from our investment came out yesterday. I think she was on Natalie Brinnell show and she said look Here's the problem with the spot ETF and it is Gary Ginsler Here's what she says she goes for me the disconnect is they SEC staff know a lot and they are so good that I believe this was much more Gary Gensler standing in the way and I didn't know that's You know the different members of the SEC were this in depth with crypto But it makes sense that they actually were but the problem again is this is my thesis is just Gary standing in the way I don't know for sure because they could never say anything something like that I just know from how we have discussed Bitcoin with them that they really Understand it and they understand its merits. I gotta tell you probably the SEC is a lot farther ahead than people who are investing into Bitcoin right now And it goes because people are investing into Bitcoin because of a lot of reasons I think one of the main reasons people got into Bitcoin is because numbers go up. Let's be honest and If the SEC understands it, that's better than the average investor And now she she continues on she says why he allowed a Bitcoin futures ETF, which involves counterparty risk and not a Spot Bitcoin ETF, which does not involve counterparty risk In fact, ours will be backed by Bitcoin one for one in cold storage of coin base That's why Grace go on its case It's it is that argument and of course if you're unfamiliar If we do a spot Bitcoin ETF You have to purchase the physical item of Bitcoin with a futures ETF. That's all paper. That's all paper Bitcoin They can run up the price. They can you know short it long at whatever else being the same thing But you don't have to control or actually buy the underlying asset. It's all paper So with this one and I have to agree with her it looks like there's less counterparty risk But yes, he sees it differently and that's why they that's why grayscale brought him to court And they actually want it and of course grayscale now gets to gets that Ability to have SEC take a look at their option again to convert their trust into a spot Bitcoin ETF Okay, and lastly she says I think Gary Gens was personal Vietnam is coming around to haunt him I do think the SEC is moving now and yeah, I think the SEC is moving now and Again, the problem that I see with the SEC this probably won't be popular opinion, but it's the truth is Gary Caroline and Jaime and you'll note that unfortunately political parties are polarizing Gary's a Democrat. Caroline's a Democrat. Jaime's a Democrat. I can I can't guarantee but I have a higher Resolution and probability that if we had Hester Pierce and Mark Ueda and another Republican probably on there. I'm pretty sure I'm guessing here But I have again a higher probability that a spot ETF would probably be approved mostly because Hester Pierce is such a proponent For crypto currency digital assets more and more importantly Bitcoin But unfortunately we have Gary and the question always is is who does Gary work for? It's Gary word for Goldman Sachs or black rock doesn't appear to be because it's been taking quite a bit of time And maybe you'll get approved but he works for the White House and the White House again is not a fan of crypto Bitcoin digital assets, and it's not just the White House and the Biden administration which are controlled by Democrats Which I have no problem with Democrats. I'm just saying that's just what the truth is It's also we're fighting against senators like Elizabeth Warren who never misses an opportunity to talk ill on Bitcoin and any digital asset as she says here just a couple of days ago She called out that crypto was being used for Hamas And of course those are the types of things that only Bitcoin users use and has nothing to do with the fact that most of it Is used by dollars, but that's Plautics my friends, and that's what it is. So on top of that You have to understand that the people in power They need To take all those funds. That's what quantitative easing was and they need to take that back because that is a problem with inflation and There is a problem in the US government and that problem is that they can't collect enough taxes and Because of that they're going to have people like Senator Elizabeth Warren and a lot of other Democrats are excuse me Senators and they're going to call for an increase in tax reporting rules because they want that money back the money That they gave you they want to squeeze you and they need that those funds backs They can reduce the amount of circulating supply Which is what they did in 2020 when they fired up the the printers and this all kind of comes down to this They need this to happen so they can keep the dollar strong the dollar has to be strong and That's why the government doesn't want us using Bitcoin because it is a competitor to the dollar It is a store of value right what else is a store of value the dollar and we take a look at the Dixie Which the Dixie is just it's just a comparison of the US dollar against a basket of six currencies the euro the Swiss franc yen and Couple couple other ones I always forget the British pound and two more if we take a look at the at the five-year DXY or Dixie We can see that in all honesty the dollar is very strong still and reaches peak in 2022 September 1st And now it's still pretty well. It's going well, but we can see a problem with it on the horizon and again That's why the government doesn't want it We can see that just a couple days ago Treasury bond auction runs into weak demand. I'm the fears that soaring US debt will overrun Wall Street Treasury bond auctions weak demand Thursday. I think this was this is for the 30 year Yeah, US sold 20 billion dollars of 30 year bonds, but deals had to take up more supply after investors bucked. They don't want that They don't want that Why would they want that if the government is? taken out 51 Roughly 51 trillion dollars in bonds. That's how much is in the US bond market 51 trillion you think China You think China wants anything to do with with Bitcoin? Crypto digital assets, maybe they can control a little bit but look They got three trillion and if you take a look at globally for bonds or total securities or the bond market itself It's a hundred and thirty three trillion. Why would governments want to compete with that and it can be laid out perfectly And I linked this in the description in the last report White House releases comprehensive framework for responsible developer digital assets You know what they're trying to do if you just take a look at CBBC's It's pension 16 times what they're trying to do is Stall I believe until they can rule out this US CBDC But they don't understand the whole point of that and this is this is the problem that I think I think people They missed the forest for the trees I guess Which is they take a look at this and they think okay If we can just get a better payment system and use a CBDC which we control people will go for that I think as people get into it as if they don't really know what Bitcoin can do and digital assets can do I think they can't I think they see it like that But when you peel back the layers you say okay, hold on the reason why we're in this this mess right now is because The Treasury and the Fed they printed too much money inflation went up enormously high now they're trying to Do everything they possibly can to unwind everything and everything is in control of the government And I think hopefully that the that people like you and I we understand But as time goes on the people that get into this market They'll only think about this as numbers go up first So hopefully they can understand that this is not the way to do things and Hopefully the people that are out there right now. They're looking at this and saying why did Bitcoin go up so much on this spot? ETF news they'll take a look and say hold on wait the reason why this is going up so well is because it's It's an asymmetrical bet and if we compare again Bitcoin against everything else out there as far as returning investments I mean, it's crushing it real estate investment trust bond market stocks gold commodities US cash mid caps large caps. We thought it was for Nasdaq 100 and They take a look at this And they look this is pretty good for 2023 not so much for 2022 but going backwards and take of course annualize It's 144 percent year over year US Nasdaq which was you know gold standard, I guess 70 percent pretty good, but come on Why aren't we allocating something into there? I know people will say like We talk a lot about the four-year cycle And I still believe it's as far as I know. It's still in play Did we not have a having in 2012? having 2013 all-time high 2014 a monster dip in a 2015 a reset 2016 a having 2017 all-time high 2018 a dip and 2019 a reset 2020 having 2021 all-time high 2022 dip and a reset what happens next year. It's a having I like the narrative It's played out pretty well so far. I think it will again I could be wrong, but I think as people get into it Hopefully they can understand the four-year cycle and go okay Well, if we just we know what's coming into these these next sessions It's not so scary because when you see 73 percent 58 percent and six fifty-five percent you're like what the hell happened I don't want to get into that. Oh, yeah for your cycles. Okay. I remember that so it makes sense and all these things are not just being pushed out by by just You know little people like us. I mean, this is the same reason why Larry Fink came out and Talked about yesterday and talks about how Bitcoin is a flight to quality And I know we've heard about this But I thought it was just a genius move for him to get out there in front of the cameras and say look Yeah, it was a rumor and that's that's a problem, but in all honesty look how well it did Because I can't talk about the specifics. I think it's just an example of the pent-up interest in crypto We're hearing from clients around the world that want this some of this rally is way beyond the rumor I think the rally today is about a flight to quality with all the issues around Israel Global terrorism and the more people are running into this. So when I take a look at this and then of course That's just one piece and lastly net inflows For the third consecutive week by Bitcoin and don't and I'm not going to discount just Bitcoin There's also some alts that did pretty well Bitcoin saw inflows of 16 million last week Pushing the year-to-date inflows of 260 million short Bitcoin funds also 1.7 not too many Then also take a look at this so on investment products added 3.7 million to the 24 million in the prior week and XRP funds also manage modest inflows of Half a million the 25th consecutive week of positive inflows for the product So look, I know there's a lot of things to be concerned with there's a lot of different turmoil I'm not the expert to talk about that so we'll not be talking about that But I think in the long haul I think we're in the right place at the right time and that's it for today. So look Like this video give it a thumbs up consider subscribing everything talk about is time sensitive. Thanks so much appreciate you