Transkrip lengkap untuk BREAKING: Every Flight In America Just Got Grounded - Bitcoin Erased 5 Years

records, we're still checking thoroughly, 41 00:01:54.800 --> 00:01:56.720 but according to our records, this is only 42 00:01:56.720 --> 00:02:00.760 the second time that a nationwide ground stop 43 00:02:00.760 --> 00:02:04.520 for all aircraft has been issued since 9 44 00:02:04.520 --> 00:02:07.560 -11. The FAA statement went out through air 45 00:02:07.560 --> 00:02:09.560 traffic control. It says this, and I'll read 46 00:02:09.560 --> 00:02:12.580 it to you. Due to extraordinary circumstances and 47 00:02:12.580 --> 00:02:16.520 for reasons of safety, attention all aircraft operators. 48 00:02:16.520 --> 00:02:19.940 By order of the Federal Aviation Command Center, 49 00:02:19.940 --> 00:02:23.380 all airports are ground -stopped. All departing traffic 50 00:02:23.380 --> 00:02:27.400 should remain ground -stop until further noticed, inbound 51 00:02:27.400 --> 00:02:30.760 international flights, will be managed on a case 52 00:02:30.760 --> 00:02:37.120 -by -case basis. Yeah, wow. So this is, 53 00:02:37.120 --> 00:02:38.740 I don't know, right out of left field 54 00:02:38.740 --> 00:02:41.940 here, but maybe not, because we've been chatting 55 00:02:41.940 --> 00:02:45.400 about a good handful of governments around the 56 00:02:45.400 --> 00:02:49.680 world consistently, starting to say, oh, get stocked 57 00:02:49.680 --> 00:02:52.220 up, everybody. Not for anything specific, but just 58 00:02:52.220 --> 00:02:54.680 in case, you know, get three days, a 59 00:02:54.680 --> 00:02:57.260 week worth of food and fuel and make 60 00:02:57.260 --> 00:02:59.840 sure you got everything you need. you never 61 00:02:59.840 --> 00:03:03.280 know when something might happen. Is this the 62 00:03:03.280 --> 00:03:05.280 beginning of that something? Is this a dry 63 00:03:05.280 --> 00:03:08.080 run? What are we thinking here, boys? Let 64 00:03:08.080 --> 00:03:09.960 me, let me posit this to you guys. 65 00:03:09.960 --> 00:03:12.940 You tell me what you think. We obviously, 66 00:03:12.940 --> 00:03:14.200 one other thing we've been talking about quite 67 00:03:14.200 --> 00:03:16.440 a bit, in addition to this, like, very 68 00:03:16.440 --> 00:03:19.940 vague and it seems very suddenly frequent warning 69 00:03:19.940 --> 00:03:23.080 about 96 hours of food or whatever. Yep. 70 00:03:23.080 --> 00:03:26.460 Is the cyber attack thing, the AI infrastructure. 71 00:03:26.460 --> 00:03:29.840 Sure. The thing I don't, okay, so maybe 72 00:03:29.840 --> 00:03:32.520 we'll start with this. We're Canadian, obviously, the 73 00:03:32.520 --> 00:03:34.420 few of us here. Brandon, honorary Canadian as 74 00:03:34.420 --> 00:03:37.060 well, Monday, Wednesday, and Friday. I don't see 75 00:03:37.060 --> 00:03:39.880 anything here for Canada. So whatever the problem 76 00:03:39.880 --> 00:03:43.020 is, is either contained in the U .S. 77 00:03:43.020 --> 00:03:45.620 or it's not being reported anywhere else, which 78 00:03:45.620 --> 00:03:48.460 tells me that it's not necessarily an issue 79 00:03:48.460 --> 00:03:53.240 of, like, a set of frequencies or a 80 00:03:53.240 --> 00:03:54.880 certain piece of equipment or something like that. 81 00:03:54.880 --> 00:03:57.300 it looks this looks to me more targeted 82 00:03:57.300 --> 00:03:59.880 than that which is kind of not great 83 00:03:59.880 --> 00:04:01.380 well joey don't forget is i'm trying to 84 00:04:01.380 --> 00:04:02.260 work behind the scenes here a little bit 85 00:04:02.260 --> 00:04:04.600 too yeah we had both france and u 86 00:04:04.600 --> 00:04:07.500 .s military's refrigeration units being targeted including like 87 00:04:07.500 --> 00:04:09.140 where they were keeping um like blood banks 88 00:04:09.140 --> 00:04:10.480 frozen blood banks as well so it's not 89 00:04:10.480 --> 00:04:12.200 only just food that they were going after 90 00:04:12.200 --> 00:04:13.220 and they were able to crank those things 91 00:04:13.220 --> 00:04:14.620 at the 50 degrees Celsius so there's been 92 00:04:14.620 --> 00:04:16.340 a ton of what appears to be very 93 00:04:16.340 --> 00:04:18.260 blatant cyber warfare kind of going on and 94 00:04:18.260 --> 00:04:20.700 you're right japan europe canada all of them 95 00:04:20.700 --> 00:04:22.820 have had that have emergency supply stuff on 96 00:04:22.820 --> 00:04:24.480 hand which to my wife's credit i thought 97 00:04:24.480 --> 00:04:25.780 she was telling me me even earlier today, 98 00:04:25.780 --> 00:04:26.620 she's like, you know, getting a little bit 99 00:04:26.620 --> 00:04:28.120 freaked out about it. I got a fucking 100 00:04:28.120 --> 00:04:30.280 stash down here in the basement now because 101 00:04:30.280 --> 00:04:31.520 she watches our show in a bunch of 102 00:04:31.520 --> 00:04:32.880 shit. She's like, I'm getting stock the fuck 103 00:04:32.880 --> 00:04:34.080 up. So at least I know I got 104 00:04:34.080 --> 00:04:36.080 mine on your address. I'm not fucking telling 105 00:04:36.080 --> 00:04:37.480 you that one, but I promise I'll feed, 106 00:04:37.480 --> 00:04:38.560 I'll feed the little one. You're on your 107 00:04:38.560 --> 00:04:41.000 own. We need a, we need a my 108 00:04:41.000 --> 00:04:44.460 Patriot Supply sponsorship. Oh, here we got to 109 00:04:44.460 --> 00:04:46.740 get the food. X -22 report stand up. 110 00:04:46.740 --> 00:04:49.400 X -22 report stand up. It's, it's tough 111 00:04:49.400 --> 00:04:51.380 because, you know, we've talked about this with 112 00:04:51.380 --> 00:04:53.280 aliens. We talked about this all, like, you 113 00:04:53.280 --> 00:04:54.320 know, the governments a lot of times will 114 00:04:54.320 --> 00:04:55.940 use these things. as trial balloons to see 115 00:04:55.940 --> 00:04:57.800 how many people fall for stuff. And, you 116 00:04:57.800 --> 00:04:58.840 know, they kind of give like the head 117 00:04:58.840 --> 00:05:00.560 fakes and like, okay, who believes this? How 118 00:05:00.560 --> 00:05:02.460 many people

are gullible right now? And they'll 119 00:05:02.460 --> 00:05:04.340 use these things, which is, you know, the 120 00:05:04.340 --> 00:05:06.840 Chinese balloon that was overhead. So you just, 121 00:05:06.840 --> 00:05:08.480 you just never really know. And unfortunately, we're 122 00:05:08.480 --> 00:05:09.980 at this place, whether it's, I don't know, 123 00:05:09.980 --> 00:05:11.560 Joe Biden or whether it's Donald Trump and 124 00:05:11.560 --> 00:05:14.440 AOC or Gavin Newsom or J .D. Van. 125 00:05:14.440 --> 00:05:17.180 Van. No matter who's president. The thing I 126 00:05:17.180 --> 00:05:19.220 keep thinking about is that, you know, politics 127 00:05:19.220 --> 00:05:21.340 in a way is going to matter less 128 00:05:21.340 --> 00:05:23.460 and less as time goes on to the 129 00:05:23.460 --> 00:05:26.240 extent that people don't trust anything anymore. And 130 00:05:26.240 --> 00:05:28.480 so I'm hopeful that we're going to get 131 00:05:28.480 --> 00:05:31.480 back to more localized politics, whether it's provincial, 132 00:05:31.480 --> 00:05:33.340 state, municipality, all these different things where you 133 00:05:33.340 --> 00:05:37.080 can actually govern and decentralize things because we're 134 00:05:37.080 --> 00:05:39.440 in this world now where, yeah, I mean, 135 00:05:39.440 --> 00:05:41.700 usually when they're saying something, it's for some 136 00:05:41.700 --> 00:05:43.100 other reason, like we said the other day, 137 00:05:43.100 --> 00:05:44.620 like what's the smoke screen about? What's this 138 00:05:44.620 --> 00:05:46.480 for? Is this related to it at all? 139 00:05:46.480 --> 00:05:47.840 Maybe it's just something out of left field. 140 00:05:47.840 --> 00:05:49.840 The other part of it is, I'm surprised 141 00:05:49.840 --> 00:05:51.120 these things don't happen more. And the government's 142 00:05:51.120 --> 00:05:53.760 on these weird, precarious positions where they kind 143 00:05:53.760 --> 00:05:55.360 of have to keep people. in this state 144 00:05:55.360 --> 00:05:56.460 of fear all the time, so you feel 145 00:05:56.460 --> 00:05:58.500 like you need the government to do something 146 00:05:58.500 --> 00:06:00.260 that, like, there's always, like, the boogeyman of 147 00:06:00.260 --> 00:06:02.000 the unknown, unknown, like, well, I don't know. 148 00:06:02.000 --> 00:06:03.580 The government always knows something that I don't 149 00:06:03.580 --> 00:06:05.820 know. And you've got to keep the people 150 00:06:05.820 --> 00:06:08.360 on this, this threshold of not just total 151 00:06:08.360 --> 00:06:11.300 revolt and, like, rioting and also just scared 152 00:06:11.300 --> 00:06:13.080 enough where you can pass things, get your, 153 00:06:13.080 --> 00:06:14.820 get your Patriot acts in, like, do your 154 00:06:14.820 --> 00:06:16.680 different things, as Rahm Emanuel said, right? Never 155 00:06:16.680 --> 00:06:18.320 let a good price go to waste. So, 156 00:06:18.320 --> 00:06:20.000 you know, like, what are they planning? You 157 00:06:20.000 --> 00:06:22.200 know, what's exactly going on? But that's where, 158 00:06:22.200 --> 00:06:24.420 I guess, you know, landing the plane, no 159 00:06:24.420 --> 00:06:26.740 pun. intended. This is just where, I think, 160 00:06:26.740 --> 00:06:28.720 focusing on what you can control, rooting yourself 161 00:06:28.720 --> 00:06:30.460 in Christ, you know, probably number one, we 162 00:06:30.460 --> 00:06:31.480 should probably talk about that a little more 163 00:06:31.480 --> 00:06:32.900 in this show, but just having ultimate faith 164 00:06:32.900 --> 00:06:33.980 of like, hey, we're all going to be 165 00:06:33.980 --> 00:06:36.320 six feet under someday anyway. Do you focus 166 00:06:36.320 --> 00:06:38.660 on what you could control and root yourself, 167 00:06:38.660 --> 00:06:41.140 increase your mental, your spiritual, your physical, get 168 00:06:41.140 --> 00:06:43.420 in shape, get your mind right, work out, 169 00:06:43.420 --> 00:06:45.020 because you sit around an algorithm all day 170 00:06:45.020 --> 00:06:46.400 long. Like, you'll just be like cat the 171 00:06:46.400 --> 00:06:48.260 laser pointer all the time. So that's kind 172 00:06:48.260 --> 00:06:49.200 of when I think of this stuff and 173 00:06:49.200 --> 00:06:50.920 I see this stuff and just speeding up, 174 00:06:50.920 --> 00:06:52.300 getting crazier and crazier. That's just where my 175 00:06:52.300 --> 00:06:56.560 mind goes. Guys, we talked about this, if 176 00:06:56.560 --> 00:06:59.940 I'm not mistaken, on the show very briefly 177 00:06:59.940 --> 00:07:03.140 a week ago. But do you think it 178 00:07:03.140 --> 00:07:05.440 could be something to do with the fact 179 00:07:05.440 --> 00:07:12.540 that they just went away from floppy disks? 180 00:07:12.540 --> 00:07:16.480 It's not impossible, Joey. Why are you coming 181 00:07:16.480 --> 00:07:18.040 to me on something that has floppy in 182 00:07:18.040 --> 00:07:20.860 the fucking, come on? I don't like that. 183 00:07:20.860 --> 00:07:23.160 I mean, like, they, again, I don't. Again, 184 00:07:23.160 --> 00:07:25.480 FAA to finally ditch floppy disks in what 185 00:07:25.480 --> 00:07:29.120 it calls historic tech upgrade. Do you think 186 00:07:29.120 --> 00:07:32.680 they just can't handle the new stuff? Okay, 187 00:07:32.680 --> 00:07:34.720 let me ask you this. You guys know 188 00:07:34.720 --> 00:07:36.380 one of the things we talk about on 189 00:07:36.380 --> 00:07:37.500 the show a lot, and I think a 190 00:07:37.500 --> 00:07:39.740 thing that people sort of think about, but 191 00:07:39.740 --> 00:07:42.400 don't really understand the gravity of is this 192 00:07:42.400 --> 00:07:45.940 idea of technical deficit. You're talking about any 193 00:07:45.940 --> 00:07:49.000 system that cannot be taken offline for a 194 00:07:49.000 --> 00:07:53.340 proper upgrade, never getting a full rebuild and 195 00:07:53.340 --> 00:07:57.000 moving to a

modern file system, modern hardware, 196 00:07:57.000 --> 00:07:58.920 modern peripherals, like floppy disks and stuff like 197 00:07:58.920 --> 00:08:02.280 that. If you can't do that, then what 198 00:08:02.280 --> 00:08:04.220 you wind up with is band -aids on 199 00:08:04.220 --> 00:08:06.720 band -aids, on band -aids, on band -aids, 200 00:08:06.720 --> 00:08:08.460 over and over and over again. And it 201 00:08:08.460 --> 00:08:10.600 was one thing in the 70s and 80s 202 00:08:10.600 --> 00:08:14.920 when the speed at which these systems would 203 00:08:14.920 --> 00:08:17.060 have been upgraded anyways was once every five 204 00:08:17.060 --> 00:08:18.980 years, once every 10 years, once every 15 205 00:08:18.980 --> 00:08:23.320 years. Now, especially in the last two years, 206 00:08:23.320 --> 00:08:26.800 it's probably like an insanely high frequency. You 207 00:08:26.800 --> 00:08:29.500 got to think about something that's probably the 208 00:08:29.500 --> 00:08:32.160 best comparison to this for the average retail 209 00:08:32.160 --> 00:08:35.280 person who doesn't really understand all this stuff. 210 00:08:35.280 --> 00:08:37.600 Think about how often your iPhone updates. How 211 00:08:37.600 --> 00:08:40.680 often your Windows PC updates, your Mac updates. 212 00:08:40.680 --> 00:08:42.420 How often do you need to update your 213 00:08:42.420 --> 00:08:44.320 car software if you have something like that 214 00:08:44.320 --> 00:08:47.240 in your vehicle? This is stuff that has 215 00:08:47.240 --> 00:08:51.320 zero technical deficit. None. Okay. And it's updating 216 00:08:51.320 --> 00:08:53.700 probably once a month. You can imagine something 217 00:08:53.700 --> 00:08:56.060 that has been updated since 1975 in any 218 00:08:56.060 --> 00:08:59.640 real meaningful capacity because it can't, we can't 219 00:08:59.640 --> 00:09:02.580 risk a failure in flight controls. We can't 220 00:09:02.580 --> 00:09:05.180 risk a failure in nuclear power or any 221 00:09:05.180 --> 00:09:06.580 kind of hydro. We can't risk a failure 222 00:09:06.580 --> 00:09:10.100 in hospitals or municipalities. I'll give you an 223 00:09:10.100 --> 00:09:12.880 example in my own life here. I live 224 00:09:12.880 --> 00:09:15.580 in Hamilton, in Ontario, and we are like 225 00:09:15.580 --> 00:09:18.040 in year, I mean, depending on what timeline 226 00:09:18.040 --> 00:09:20.280 you believe, three or three. or four of 227 00:09:20.280 --> 00:09:22.140 the fallout from a cyber attack that left 228 00:09:22.140 --> 00:09:25.920 the city basically crippled everything from like parking 229 00:09:25.920 --> 00:09:29.500 tickets to property taxes to can I get 230 00:09:29.500 --> 00:09:31.880 another set of stickers to put an extra 231 00:09:31.880 --> 00:09:34.140 bag of garbage on the curb this week. 232 00:09:34.140 --> 00:09:36.220 You couldn't do it for a long time. 233 00:09:36.220 --> 00:09:37.460 And it's because those systems have just never 234 00:09:37.460 --> 00:09:39.500 been upgraded. Once people had the capability to 235 00:09:39.500 --> 00:09:42.440 attack those old systems without really any friction 236 00:09:42.440 --> 00:09:44.440 at all, they did it. And I think 237 00:09:44.440 --> 00:09:46.760 some of this stuff, especially on the national 238 00:09:46.760 --> 00:09:49.900 scale, like air traffic control, or like air 239 00:09:49.900 --> 00:09:54.100 traffic comms, that's a great target. And again, 240 00:09:54.100 --> 00:09:55.100 one of the things we talked about a 241 00:09:55.100 --> 00:09:57.040 lot, I don't know if I said it 242 00:09:57.040 --> 00:09:59.040 on this show, I said on Accessive Easy, 243 00:09:59.040 --> 00:10:01.200 but the reason that you see stuff, you 244 00:10:01.200 --> 00:10:02.540 know, Nate, like you were saying earlier, blood 245 00:10:02.540 --> 00:10:05.740 banks and freezers, right? If there's a, if 246 00:10:05.740 --> 00:10:08.180 there's a movie about war or famine or 247 00:10:08.180 --> 00:10:11.000 whatever, what is the visual? The visual is 248 00:10:11.000 --> 00:10:14.840 not always battlefield casualties. The visual is something 249 00:10:14.840 --> 00:10:16.940 that's more visceral to the average person. It's 250 00:10:16.940 --> 00:10:19.080 an empty fridge at the grocery store. It's 251 00:10:19.080 --> 00:10:21.080 a hospital where the lights are off. It's 252 00:10:21.080 --> 00:10:24.060 a doctor's office where there's no medicine, right? 253 00:10:24.060 --> 00:10:25.280 Your own fridge at home where the food 254 00:10:25.280 --> 00:10:28.640 is rotting. This is visceral. It's visible and 255 00:10:28.640 --> 00:10:30.980 it's tangible for Americans. So when you talk 256 00:10:30.980 --> 00:10:34.320 about destabilizing a country, you don't necessarily always 257 00:10:34.320 --> 00:10:37.020 have to say, well, we're going to destabilize 258 00:10:37.020 --> 00:10:39.680 it by, you know, putting boots on, you 259 00:10:39.680 --> 00:10:42.940 know, the shores of America. That's maybe something 260 00:10:42.940 --> 00:10:47.000 from the past. But now people go, oh 261 00:10:47.000 --> 00:10:48.480 my God, like my, my, my, my own. 262 00:10:48.480 --> 00:10:51.100 is in the sky or whatever. My uncle's 263 00:10:51.100 --> 00:10:52.700 in the sky. And by the way, you 264 00:10:52.700 --> 00:10:54.300 know, when every American is going to be 265 00:10:54.300 --> 00:10:56.280 in the sky? Two weeks from now at 266 00:10:56.280 --> 00:10:58.600 Thanksgiving. And so when these guys decide to 267 00:10:58.600 --> 00:11:00.200 do that, that's going to be a consideration 268 00:11:00.200 --> 00:11:02.640 for a lot of people. And if those 269 00:11:02.640 --> 00:11:04.880 flights are grounded or at risk or there's 270 00:11:04.880 --> 00:11:07.220 any other hiccup with that stuff, it's going 271 00:11:07.220 --> 00:11:10.060 to be national and international news. That's an 272 00:11:10.060 --> 00:11:12.780 important thing to consider.

What is the effect 273 00:11:12.780 --> 00:11:15.780 on the way people think about their confidence 274 00:11:15.780 --> 00:11:18.280 in systems that they've never given any thought 275 00:11:18.280 --> 00:11:22.580 to? for. Very important stuff. I got a, 276 00:11:22.580 --> 00:11:27.060 so I found another thing here. And it 277 00:11:27.060 --> 00:11:31.300 may be what, it may be even more 278 00:11:31.300 --> 00:11:35.620 relevant than the stopping using floppy disks thing. 279 00:11:35.620 --> 00:11:37.060 By the way, hey, Joe, thanks for joining 280 00:11:37.060 --> 00:11:40.440 us. Welcome, consorting. You're going thrown into the 281 00:11:40.440 --> 00:11:42.180 deep end. It was me. I caused all 282 00:11:42.180 --> 00:11:45.760 of this. It might have been you or 283 00:11:45.760 --> 00:11:48.320 it might have been the FAA rolling out 284 00:11:48.320 --> 00:11:51.620 its. AI air traffic tool nationwide. This is 285 00:11:51.620 --> 00:11:57.180 from yesterday. No. Gee. Yeah. They gave it 286 00:11:57.180 --> 00:11:59.040 the keys to the kingdom and they said, 287 00:11:59.040 --> 00:12:02.140 optimize all of our flights. Less congestion. And 288 00:12:02.140 --> 00:12:03.780 it's just okay. And then it grounded every 289 00:12:03.780 --> 00:12:05.800 flight. Yeah, last week, we were just talking 290 00:12:05.800 --> 00:12:07.780 about last week how they're like, all right, 291 00:12:07.780 --> 00:12:09.900 guys, we're going off floppy disks. And now 292 00:12:09.900 --> 00:12:13.440 they're rolling out a nationwide AI tool. Like, 293 00:12:13.440 --> 00:12:15.960 guys, I think baby steps are in order 294 00:12:15.960 --> 00:12:19.700 here. not looking so hot, but there's a 295 00:12:19.700 --> 00:12:22.920 couple, uh, couple items there that may contribute 296 00:12:22.920 --> 00:12:25.420 to this. Or, or maybe this is not 297 00:12:25.420 --> 00:12:28.120 related at all. Maybe it's just, I don't 298 00:12:28.120 --> 00:12:31.480 know, that the orchestrated cyber attack that they've 299 00:12:31.480 --> 00:12:33.920 been warning us about for a year and 300 00:12:33.920 --> 00:12:35.940 a half. I don't know, man. I don't 301 00:12:35.940 --> 00:12:38.400 know. Before it jumps in here really quick, 302 00:12:38.400 --> 00:12:39.500 we're at this intersection. I just want to 303 00:12:39.500 --> 00:12:41.000 throw in here of, you know, we've been 304 00:12:41.000 --> 00:12:43.960 talking about Palmer Lucky a lot, even Elon, 305 00:12:43.960 --> 00:12:47.080 right, and AI really running your life. Mythos, 306 00:12:47.080 --> 00:12:48.640 we still don't have mythos. Like, where's mythos? 307 00:12:48.640 --> 00:12:49.900 How come we don't have mythos yet, damn 308 00:12:49.900 --> 00:12:51.540 it? But this is, this is, this world 309 00:12:51.540 --> 00:12:53.860 my fable 5 .4 -2 already. This is 310 00:12:53.860 --> 00:12:55.400 this world that we're kind of in right 311 00:12:55.400 --> 00:12:58.500 now where you have the Dems right now 312 00:12:58.500 --> 00:13:00.260 talking about like, oh yeah, like they want 313 00:13:00.260 --> 00:13:01.880 to crack down David Sachs being like, oh, 314 00:13:01.880 --> 00:13:03.340 100 % thems are coming in to create 315 00:13:03.340 --> 00:13:05.300 a cyber cage over your life. And, you 316 00:13:05.300 --> 00:13:07.020 know, so we're in this weird, Jensen Wong 317 00:13:07.020 --> 00:13:08.520 coming out. He's, you know, big on, right? 318 00:13:08.520 --> 00:13:09.780 We've been talking about all these things and 319 00:13:09.780 --> 00:13:11.720 he was huge on the open models. We're 320 00:13:11.720 --> 00:13:14.280 in this really precarious time right now where 321 00:13:14.280 --> 00:13:15.780 you have all these things kind of coming 322 00:13:15.780 --> 00:13:17.480 together. and you have this battle that's going 323 00:13:17.480 --> 00:13:19.500 on that, I mean, let's be honest, the 324 00:13:19.500 --> 00:13:22.660 average person has zero clue what is going 325 00:13:22.660 --> 00:13:24.020 on at all. I mean, even as a 326 00:13:24.020 --> 00:13:25.280 Bitcoiner, I think a lot of us, I 327 00:13:25.280 --> 00:13:27.220 don't have a clue what's going on, you 328 00:13:27.220 --> 00:13:28.700 know, if I'm going to be truthful. Like, 329 00:13:28.700 --> 00:13:30.180 there is so much going on. It's almost 330 00:13:30.180 --> 00:13:32.940 impossible. You need your clanker just to give 331 00:13:32.940 --> 00:13:34.380 you a briefing or a couple briefings a 332 00:13:34.380 --> 00:13:35.680 day, just to stay on top of like 333 00:13:35.680 --> 00:13:37.100 10 % of what's going on in the 334 00:13:37.100 --> 00:13:38.860 world between the wars and the AI and 335 00:13:38.860 --> 00:13:41.980 outages and cyber attacks. It's a wild time, 336 00:13:41.980 --> 00:13:44.000 wild time right now. Damn, Joe, you just 337 00:13:44.000 --> 00:13:49.860 shared something too. Probably related here. National Weather 338 00:13:49.860 --> 00:13:54.380 Service investigating a nationwide radar outage. Yeah, so 339 00:13:54.380 --> 00:13:56.960 it doesn't seem to be, so this is 340 00:13:56.960 --> 00:13:58.120 why it seems like it may be a 341 00:13:58.120 --> 00:14:00.760 cyber attack. It might be related to the 342 00:14:00.760 --> 00:14:02.460 AI thing. I don't know how closely the 343 00:14:02.460 --> 00:14:04.660 FAA and the National Weather Service work together 344 00:14:04.660 --> 00:14:07.800 on their radar systems. But yeah, no, this 345 00:14:07.800 --> 00:14:09.980 could be the reason that the FAA issued 346 00:14:09.980 --> 00:14:15.240 a groundstop. Obviously, they need the radar to 347 00:14:15.240 --> 00:14:16.800 see where the weather is going. I remember 348 00:14:16.800 --> 00:14:18.620 even with radar, I was flying out of 349 00:14:18.620 --> 00:14:25.380 MCO in 2025 leaving from strategy world. And 350 00:14:25.380 --> 00:14:28.760 lightning hit our plane as we were ascending 351 00:14:28.760 --> 00:14:30.500 and all of the lights

in the cabin 352 00:14:30.500 --> 00:14:32.580 went out and we descended maybe like 100 353 00:14:32.580 --> 00:14:35.240 feet in like two seconds. Terrified. I was 354 00:14:35.240 --> 00:14:38.040 like, well, you know, this sucks. And that 355 00:14:38.040 --> 00:14:40.340 was with radar. And so it's extremely important 356 00:14:40.340 --> 00:14:42.540 that radar systems are functional. So you don't 357 00:14:42.540 --> 00:14:44.960 get what happens a week and a half, 358 00:14:44.960 --> 00:14:47.160 two weeks ago with, you know, Obviously, that 359 00:14:47.160 --> 00:14:49.480 wasn't a radar issue. That was just, you 360 00:14:49.480 --> 00:14:52.080 know, we can fly through this terrible storm 361 00:14:52.080 --> 00:14:53.900 in a jet that weighs 40 pounds. No, 362 00:14:53.900 --> 00:14:56.240 you can't. No, you can't. So, you know, 363 00:14:56.240 --> 00:14:58.700 with radar outages, and we're talking about tens 364 00:14:58.700 --> 00:15:00.220 of thousands, hundreds of thousands of people in 365 00:15:00.220 --> 00:15:02.200 the sky at any given time. You know, 366 00:15:02.200 --> 00:15:03.840 it makes sense as to why this happened. 367 00:15:03.840 --> 00:15:05.580 But the question is, what caused the radar 368 00:15:05.580 --> 00:15:07.360 outage? Was it something that Jensen Wong told 369 00:15:07.360 --> 00:15:09.120 his Chinese honeypot that she relayed to the 370 00:15:09.120 --> 00:15:12.280 CCP and now they're doing a cyber attack? 371 00:15:12.280 --> 00:15:13.800 Maybe they're a little bit upset about him 372 00:15:13.800 --> 00:15:15.980 getting removed. That would fit the timeline. And 373 00:15:15.980 --> 00:15:17.320 speaking of time, we got O 'Hare was 374 00:15:17.320 --> 00:15:19.960 ground -stopped around 3 .10 p .m. Eastern 375 00:15:19.960 --> 00:15:23.760 equipment outage comms issues. Then later on, we 376 00:15:23.760 --> 00:15:25.700 had the advisory estimated to end around 10 377 00:15:25.700 --> 00:15:27.880 p .m. Central, which is 11 p .m. 378 00:15:27.880 --> 00:15:31.980 Eastern, but still until further noticed. Some figures 379 00:15:31.980 --> 00:15:33.920 had 5 p .m., but I think no 380 00:15:33.920 --> 00:15:36.960 official sources on that. Additionally, I did find 381 00:15:36.960 --> 00:15:40.420 that there's no record of cause yet. Pentagon's 382 00:15:40.420 --> 00:15:41.920 been asked for comment, but nothing as of 383 00:15:41.920 --> 00:15:44.640 yet. And as another fun reminder, we also 384 00:15:44.640 --> 00:15:47.140 had apparently Microsoft, 365 had an outage going 385 00:15:47.140 --> 00:15:50.060 from Thursday into Friday as well. Still out, 386 00:15:50.060 --> 00:15:52.040 by the way. They're still out. So, I 387 00:15:52.040 --> 00:15:55.240 mean, flightware counts nearly 7 ,000 flights delayed 388 00:15:55.240 --> 00:15:59.440 or canceled. That's from Reuters. No wording on 389 00:15:59.440 --> 00:16:01.400 the cause. Clash reports quotes the FAA saying 390 00:16:01.400 --> 00:16:03.240 that it's working to resolve a technical issue 391 00:16:03.240 --> 00:16:07.420 affecting telecommunications at many air traffic control facilities. 392 00:16:07.420 --> 00:16:10.460 That points to telecoms circuit layer, not radios 393 00:16:10.460 --> 00:16:12.620 alone, going back to even possibly radar. I'll 394 00:16:12.620 --> 00:16:13.920 give you something, if you want it. There's 395 00:16:13.920 --> 00:16:15.980 an end -time advisory on the FAA. a 396 00:16:15.980 --> 00:16:19.020 stop 10 p .m. Central, not firm, but 397 00:16:19.020 --> 00:16:21.220 out there. So maybe they think they have 398 00:16:21.220 --> 00:16:22.320 a handle on it or will by that 399 00:16:22.320 --> 00:16:25.060 time? Hard to say. That's pretty far out 400 00:16:25.060 --> 00:16:27.720 though, right? So that's like, like, maybe, maybe 401 00:16:27.720 --> 00:16:29.280 if you know, like some guy, you know, 402 00:16:29.280 --> 00:16:30.940 fell asleep at the wheel and ran into 403 00:16:30.940 --> 00:16:33.100 one really important power station and they know 404 00:16:33.100 --> 00:16:34.340 that they can get it back up. But 405 00:16:34.340 --> 00:16:36.060 I would not be surprised to see that 406 00:16:36.060 --> 00:16:38.120 move. I'm watching the flight trackers as well, 407 00:16:38.120 --> 00:16:40.660 too. Nothing, nothing really there, but it's still 408 00:16:40.660 --> 00:16:44.120 quite interesting to see. Clash reports as some 409 00:16:44.120 --> 00:16:47.660 indications, these are. already getting lifted, but nothing 410 00:16:47.660 --> 00:16:50.940 confirmed yet. I mean, it's, this is, it's 411 00:16:50.940 --> 00:16:53.000 so scary, man, because, like, I don't know 412 00:16:53.000 --> 00:16:55.660 about you guys, probably we fly more than 413 00:16:55.660 --> 00:16:57.060 the average person, the five of us, if 414 00:16:57.060 --> 00:16:58.960 I had to guess. Probably. For sure, for 415 00:16:58.960 --> 00:17:00.940 sure, you and you, you do, Ben. And, 416 00:17:00.940 --> 00:17:03.500 like, I hate flying anyways. I can't stand 417 00:17:03.500 --> 00:17:05.520 flying. I hate the idea of getting on 418 00:17:05.520 --> 00:17:07.200 a plane. I, like, I always have to 419 00:17:07.200 --> 00:17:09.460 take, like, the, what is that nausea medication 420 00:17:09.460 --> 00:17:10.840 that knocks you out? I forget what it's 421 00:17:10.840 --> 00:17:12.760 called. Like that van or something. No, no, 422 00:17:12.760 --> 00:17:15.320 no, it's like. Wine. Yeah, could do that. 423 00:17:15.320 --> 00:17:16.100 Yeah, could do that. I just have a 424 00:17:16.100 --> 00:17:18.080 couple of beers and unwind. But, but, like, 425 00:17:18.080 --> 00:17:21.000 yeah, it's like, you know, you know, it's, 426 00:17:21.000 --> 00:17:22.480 it's like, you know, this is already a 427 00:17:22.480 --> 00:17:23.640 scary enough thing for a lot of people, 428 00:17:23.640 --> 00:17:25.400 and now you have this kind of, this 429 00:17:25.400 -->

00:17:27.140 kind of issue. I've said for a long 430 00:17:27.140 --> 00:17:29.000 time, I'm not a big tinfoil hack guy, 431 00:17:29.000 --> 00:17:30.380 but one of the things I think about 432 00:17:30.380 --> 00:17:32.800 with some frequency, I won't say often, but 433 00:17:32.800 --> 00:17:34.920 with some frequency is if you wanted to 434 00:17:34.920 --> 00:17:37.960 limit travel for the average person, you would 435 00:17:37.960 --> 00:17:39.200 just put the fear of God of them 436 00:17:39.200 --> 00:17:41.080 every so often about getting on a plane. 437 00:17:41.080 --> 00:17:42.520 And, you know, then only the people who 438 00:17:42.520 --> 00:17:44.640 really had to fly would get on planes 439 00:17:44.640 --> 00:17:45.980 and everyone else would kind of be. you 440 00:17:45.980 --> 00:17:48.200 know, grounded for lack of the term. It 441 00:17:48.200 --> 00:17:53.460 was attempted during COVID, obviously. Yeah, yeah. But, 442 00:17:53.460 --> 00:17:54.840 you know, it didn't work out. People got 443 00:17:54.840 --> 00:17:57.880 restless. People, like, stopped listening. I remember the 444 00:17:57.880 --> 00:18:01.400 last flight, one of the last flights that 445 00:18:01.400 --> 00:18:05.720 I took before everything was lifted, they were, 446 00:18:05.720 --> 00:18:08.560 there were like the mandatory, you have to 447 00:18:08.560 --> 00:18:11.700 take a test before you leave your desk, 448 00:18:11.700 --> 00:18:13.560 leave where you're coming from back home. And 449 00:18:13.560 --> 00:18:14.860 then you have to test again when you 450 00:18:14.860 --> 00:18:18.460 land. And then you were supposed to be 451 00:18:18.460 --> 00:18:20.580 masked up, and you were supposed to get 452 00:18:20.580 --> 00:18:23.580 a hotel and all that. Yeah. I remember, 453 00:18:23.580 --> 00:18:26.300 like, landing in Calgary, and I'd say 90 454 00:18:26.300 --> 00:18:28.500 % of the plane just, like, walked through, 455 00:18:28.500 --> 00:18:30.500 and they're like, I'm not doing that. I 456 00:18:30.500 --> 00:18:32.540 don't think so. Yeah, good luck. Yeah, grab 457 00:18:32.540 --> 00:18:34.240 me in the parking lot. TTIA. Two more 458 00:18:34.240 --> 00:18:36.960 outlets back up the radio and radar reports. 459 00:18:36.960 --> 00:18:38.620 So more information coming out about that. Still 460 00:18:38.620 --> 00:18:43.120 nothing from something official, though. Wow. Just crazy. 461 00:18:43.120 --> 00:18:45.660 Well. Also, there was a massive cruise ship 462 00:18:45.660 --> 00:18:48.300 that. capsized in New Orleans. Not maybe not. 463 00:18:48.300 --> 00:18:50.140 What? That was the picture at the front 464 00:18:50.140 --> 00:18:51.920 of that clip. I was like, what the 465 00:18:51.920 --> 00:18:54.340 fuck is going on on this photo? sideways 466 00:18:54.340 --> 00:18:56.520 here. We got that. Hey, maybe we're in 467 00:18:56.520 --> 00:18:58.740 Revelation. Maybe God's coming back like today or 468 00:18:58.740 --> 00:19:00.520 tomorrow. Was it a carnival cruise? Do we 469 00:19:00.520 --> 00:19:01.900 have any? Got it. Hang on. Give me 470 00:19:01.900 --> 00:19:03.640 a second here. Let me go ahead and 471 00:19:03.640 --> 00:19:05.260 pull that one up.! Not to derail the 472 00:19:05.260 --> 00:19:08.320 shell, but you know. Oh my goodness. A 473 00:19:08.320 --> 00:19:10.920 tanker hit it, it, it looks like. Yeah. 474 00:19:10.920 --> 00:19:13.800 Yeah. It's like another Baltimore bridge situation, unfortunately. 475 00:19:13.800 --> 00:19:16.360 Oh, you've got 170 people on. board was 476 00:19:16.360 --> 00:19:18.680 terrible that's some that was that guy's running 477 00:19:18.680 --> 00:19:23.580 was oh my lord yeah that's rough man 478 00:19:23.580 --> 00:19:25.960 because like you just know there's there were 479 00:19:25.960 --> 00:19:29.460 people like in there somewhere and it's like 480 00:19:29.460 --> 00:19:31.800 you can't you can't get where's that saxophone 481 00:19:31.800 --> 00:19:35.360 coming from i think that's like scraping or 482 00:19:35.360 --> 00:19:37.900 something holy crap the other one on that 483 00:19:37.900 --> 00:19:39.900 just uh like immediately came to mind for 484 00:19:39.900 --> 00:19:40.960 me is the amount of people that i 485 00:19:40.960 --> 00:19:42.380 know that i've made it to adulthood that 486 00:19:42.380 --> 00:19:45.420 don't know how to swim is frightening like 487 00:19:45.420 --> 00:19:45.800 i'm not sure that i'm not sure that 488 00:19:45.800 --> 00:19:47.480 why this is the case if like for 489 00:19:47.480 --> 00:19:49.420 some reason my parents were just different and 490 00:19:49.420 --> 00:19:51.580 like that was always something like heavily really 491 00:19:51.580 --> 00:19:53.880 drilled into the water for my entire life 492 00:19:53.880 --> 00:19:55.340 i actually i think swimming lessons should be 493 00:19:55.340 --> 00:19:57.680 banned and if you drown you drown personally 494 00:19:57.680 --> 00:19:59.660 yeah that's one way to do that if 495 00:19:59.660 --> 00:20:00.840 you guys ever seen the clip of i 496 00:20:00.840 --> 00:20:02.180 think it was john wayne from like back 497 00:20:02.180 --> 00:20:03.780 in the day and the kid comes and 498 00:20:03.780 --> 00:20:05.500 he like loses his fishing pole like another 499 00:20:05.500 --> 00:20:07.680 side of you know black and white show 500 00:20:07.680 --> 00:20:09.300 whatever and he like loses his fishing and 501 00:20:09.300 --> 00:20:10.640 john wayne like gets up but he's on 502 00:20:10.640 --> 00:20:11.740 the bank of the river he's like well 503 00:20:11.740 --> 00:20:12.720 what do you mean it's like go in 504 00:20:12.720 --> 00:20:13.940 there and swim and get it and gets 505 00:20:13.940 --> 00:20:15.340 like wow i can't swim him and he 506 00:20:15.340 --> 00:20:17.600 just like, it just like throws him in 507 00:20:17.600 --> 00:20:19.580 the river and he's a kid screaming and 508 00:20:19.580 --> 00:20:21.240 then the lady comes

running up. She's like, 509 00:20:21.240 --> 00:20:22.620 oh my gosh, he's a kid in there. 510 00:20:22.620 --> 00:20:24.080 He's drowning, he's drowning. He's like, well, he's 511 00:20:24.080 --> 00:20:25.160 going to learn to swim. And she's like, 512 00:20:25.160 --> 00:20:26.440 why don't you go get her or get 513 00:20:26.440 --> 00:20:28.680 him? And she's like, well, I can't, it 514 00:20:28.680 --> 00:20:32.580 just looks at her. Unbelievable. Love it. Love 515 00:20:32.580 --> 00:20:35.080 it. We're going to talk about how much 516 00:20:35.080 --> 00:20:37.400 money I've lost today. Yeah, yeah, I think, 517 00:20:37.400 --> 00:20:39.320 I think we need to get into that. 518 00:20:39.320 --> 00:20:41.840 We're going to, I mean, we basically did 519 00:20:41.840 --> 00:20:43.920 the first segment on all this crazy stuff 520 00:20:43.920 --> 00:20:46.480 that's literally just happening right now. We'll continue 521 00:20:46.480 --> 00:20:49.060 to kind of monitor that throughout, and we've 522 00:20:49.060 --> 00:20:51.440 got notifications set up and all that. So 523 00:20:51.440 --> 00:20:54.940 we'll continue on with that. We're going to 524 00:20:54.940 --> 00:20:56.760 take a quick little breather here, but on 525 00:20:56.760 --> 00:21:00.000 the other side, obviously we've got our good 526 00:21:00.000 --> 00:21:02.400 buddy Joe here to give us the latest 527 00:21:02.400 --> 00:21:05.660 and greatest or lack of greatest that's been 528 00:21:05.660 --> 00:21:08.540 going on. Bitcoin below the 200 -day moving 529 00:21:08.540 --> 00:21:10.520 average. Joe, I'm sure you've got some things 530 00:21:10.520 --> 00:21:15.180 to say about that. K gang in the 531 00:21:15.180 --> 00:21:20.140 house, 58K gang frothing at the mouth. We'll 532 00:21:20.140 --> 00:21:21.700 fuck down. They're taking warm -up swings for 533 00:21:21.700 --> 00:21:24.200 sure. There's no doubt about that. Yeah, we'll 534 00:21:24.200 --> 00:21:26.940 find out what's going on and what might 535 00:21:26.940 --> 00:21:28.880 be in store in just a moment. Everybody 536 00:21:28.880 --> 00:21:31.460 in the chat, of course, keep your messages 537 00:21:31.460 --> 00:21:33.380 coming, throw some chairs, drop a like, give 538 00:21:33.380 --> 00:21:35.260 it a share. We'll be back in just 539 00:21:35.260 --> 00:21:39.680 a moment. The BitBox is Bitcoin hardware made 540 00:21:39.680 --> 00:21:41.960 simple enough that a newcomer can set it 541 00:21:41.960 --> 00:21:44.580 up in minutes, reliable enough that I regularly 542 00:21:44.580 --> 00:21:46.660 use it in tutorials and in front of 543 00:21:46.660 --> 00:21:49.120 a live audience, and has so many advanced 544 00:21:49.120 --> 00:21:51.140 features that a power user will be right 545 00:21:51.140 --> 00:21:54.480 at home. Bitbox has a Bitcoin -only edition. 546 00:21:54.480 --> 00:21:56.660 It supports multi -sig and minisccript, and it 547 00:21:56.660 --> 00:21:59.320 can even generate a spending lightning

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While, Hoddle 599 00:23:42.860 --> 00:23:45.060 Hoddle is peer -to -peer Bitcoin trading and 600 00:23:45.060 --> 00:23:48.680 lending done anonymously. Hottle Hodel Hodel never holds 601 00:23:48.680 --> 00:23:51.060 any funds. Every contract is done with a 602 00:23:51.060 --> 00:23:53.260 multi -sig escrow, and you are a keyholder 603 00:23:53.260 --> 00:23:55.680 from start to finish. You can trade in 604 00:23:55.680 --> 00:23:58.760 over 100 different currencies with endless payment methods, 605 00:23:58.760 --> 00:24:00.560 and you can browse through existing offers or 606 00:24:00.560 --> 00:24:03.040 create your own. So, head to Haudel -Hoddle 607 00:24:03.040 --> 00:24:04.740 today and sign up with nothing more than 608 00:24:04.740 --> 00:24:06.940 an email address by scanning the QR code 609 00:24:06.940 --> 00:24:08.960 on the screen or hitting the link in 610 00:24:08.960 --> 00:24:13.760 the description. All right. Just quickly interrupting Ben 611 00:24:13.760 --> 00:24:16.080 for the fun of it. Quick update. Preliminary 612 00:24:16.080 --> 00:24:18.240 indication, is this not a cyber attack anonymous 613 00:24:18.240 --> 00:24:20.220 sources of reporting? Two law enforcement officials told 614 00:24:20.220 --> 00:24:22.920 CNN that preliminary reports indicate this is not 615 00:24:22.920 --> 00:24:25.320 a cyber attack. A third law enforcement source 616 00:24:25.320 --> 00:24:27.240 told CNN that FBI personnel across the country 617 00:24:27.240 --> 00:24:29.260 are continuing to monitor the situation. That's all 618 00:24:29.260 --> 00:24:30.760 I got. Go for. I just don't buy 619 00:24:30.760 --> 00:24:32.200 that. I don't buy that either. What else 620 00:24:32.200 --> 00:24:33.500 they're going to say? What else they're going 621 00:24:33.500 --> 00:24:35.160 to say? It is a cyber attack. Actually, 622 00:24:35.160 --> 00:24:36.740 they could just admit it was gross incompetence. 623 00:24:36.740 --> 00:24:37.740 That would be fine, too. I have no 624 00:24:37.740 --> 00:24:39.720 problem just shitting on government workers. Sorry, Ben. 625 00:24:39.720 --> 00:24:41.840 That would be believable. I got it. They 626 00:24:41.840 --> 00:24:42.900 came out so they're not going to say 627 00:24:42.900 --> 00:24:45.380 that, but, you know, if they wanted to 628 00:24:45.380 --> 00:24:50.700 deflect. Mr. Consorty, how are you feeling? It's, 629 00:24:50.700 --> 00:24:54.000 we're below the 200 -day moving average hasn't 630 00:24:54.000 --> 00:24:58.460 closed since there since summer, which summer was 631 00:24:58.460 --> 00:25:02.820 its own bag of misery for a lot 632 00:25:02.820 --> 00:25:05.140 of people for a lot of reasons. That 633 00:25:05.140 --> 00:25:07.040 said, I did just get a haircut and 634 00:25:07.040 --> 00:25:10.000 pay my barber in Bitcoin at his request. 635 00:25:10.000 --> 00:25:13.300 So people are still out there stacking. So, 636 00:25:13.300 --> 00:25:15.120 Joe, where are we at? What's going on? 637 00:25:15.120 --> 00:25:17.360 It's over, guys. I just sold all my 638 00:25:17.360 --> 00:25:21.580 Bitcoin. And I'm pivoting to the better coin. 639 00:25:21.580 --> 00:25:24.480 What's it? Z -Cash is the one or 640 00:25:24.480 --> 00:25:28.260 whatever. I heard it was, I heard it 641 00:25:28.260 --> 00:25:31.980 was, what is it be? What's the Blake 642 00:25:31.980 --> 00:25:35.440 to be? He's joining the Blakers doesn't. Blake 643 00:25:35.440 --> 00:25:37.700 to be or not to be. Yeah, no, 644 00:25:37.700 --> 00:25:39.400 it's incredible. I can't believe those guys are 645 00:25:39.400 --> 00:25:41.200 still kicking it. It's really incredible. I think 646 00:25:41.200 --> 00:25:44.400 Crater uploaded a video. Okay, they're also ridiculous, 647 00:25:44.400 --> 00:25:46.800 but he uploaded a video like talking, it 648 00:25:46.800 --> 00:25:49.640 was just like waxing poetic extemporaneously about how 649 00:25:49.640 --> 00:25:54.500 like XBT was Shakespearean or something. Just amazing 650 00:25:54.500 --> 00:25:57.640 stuff. Very cool. Gambler's dilemma. Gambler's dilemma. But 651 00:25:57.640 --> 00:26:00.260 anyway, yeah, no, this is not good guys. 652 00:26:00.260 --> 00:26:02.300 Yeah, so we lost the in order. And 653 00:26:02.300 --> 00:26:05.260 this is the Bitcoin terminal. Subtle plug. I 654 00:26:05.260 --> 00:26:06.820 built this, and I think I thought this 655 00:26:06.820 --> 00:26:07.880 a couple of times before because I lost 656 00:26:07.880 --> 00:26:09.880 access to my Bloomberg terminal. and I don't 657 00:26:09.880 --> 00:26:11.260 want to pay several grand a month for 658 00:26:11.260 --> 00:26:13.980 one. These are all the key levels that 659 00:26:13.980 --> 00:26:15.560 we've blown through just in the last couple 660 00:26:15.560 --> 00:26:17.560 of days here. The 200 week moving average 661 00:26:17.560 --> 00:26:18.900 is in teal that's out at the very 662 00:26:18.900 --> 00:26:21.180 bottom. That's obviously the most important level as 663 00:26:21.180 --> 00:26:23.480

far as a bull market floor is concerned. 664 00:26:23.480 --> 00:26:24.680 Right above it is the 200 -day moving 665 00:26:24.680 --> 00:26:26.940 average, and we lost that pretty horribly. If 666 00:26:26.940 --> 00:26:28.900 you go back historically, I'll just turn off 667 00:26:28.900 --> 00:26:30.720 the other ones here for now. You can 668 00:26:30.720 --> 00:26:33.580 see, just going back over five years, that 669 00:26:33.580 --> 00:26:35.380 this typically acts as something like a bull 670 00:26:35.380 --> 00:26:37.260 market floor of sorts and a bare market 671 00:26:37.260 --> 00:26:40.040 ceiling. you can see during bull and bears 672 00:26:40.040 --> 00:26:43.620 it holds quite well however unfortunately this time 673 00:26:43.620 --> 00:26:46.520 we have fallen underneath it and so back 674 00:26:46.520 --> 00:26:49.400 in a bear market territory potentially that said 675 00:26:49.400 --> 00:26:52.620 during the last bull market we busted underneath 676 00:26:52.620 --> 00:26:55.580 this level numerous times during the bull itself 677 00:26:55.580 --> 00:26:57.280 so it's not actually all that reliable as 678 00:26:57.280 --> 00:26:59.900 far as delineating between bulls and bears on 679 00:26:59.900 --> 00:27:02.900 a macro scope sure but there are corrections 680 00:27:02.900 --> 00:27:04.960 underneath it during bull markets want to make 681 00:27:04.960 --> 00:27:06.980 that abundantly clear i do tend to think 682 00:27:06.980 --> 00:27:08.360 we are still in a bull and the 683 00:27:08.360 --> 00:27:10.180 reason I say this is because when you 684 00:27:10.180 --> 00:27:12.060 look back at 2023 and then I'll talk 685 00:27:12.060 --> 00:27:13.880 about where we're at today when you look 686 00:27:13.880 --> 00:27:17.240 back at 23 do you consider this to 687 00:27:17.240 --> 00:27:18.880 be the start of the bull market or 688 00:27:18.880 --> 00:27:20.100 you do you consider do you consider this 689 00:27:20.100 --> 00:27:21.080 to be the start of the bull market 690 00:27:21.080 --> 00:27:22.880 right personally I consider this to be the 691 00:27:22.880 --> 00:27:24.280 start of the bull market and so even 692 00:27:24.280 --> 00:27:26.440 though we're going through something remarkably similar right 693 00:27:26.440 --> 00:27:28.820 here to what happened when bitcoin was correcting 694 00:27:28.820 --> 00:27:30.640 in early 2023 after coming off the bottom 695 00:27:30.640 --> 00:27:32.820 I still in hindsight believe this will be 696 00:27:32.820 --> 00:27:35.460 the start of the bull until and if 697 00:27:35.460 --> 00:27:37.760 we lose 58K, which I don't think we 698 00:27:37.760 --> 00:27:40.480 will. How it, so that all that is 699 00:27:40.480 --> 00:27:41.860 to say this is happening for, if you 700 00:27:41.860 --> 00:27:44.280 want a more reliable, like, floor price, like 701 00:27:44.280 --> 00:27:46.060 this is the floor at which Bitcoin typically 702 00:27:46.060 --> 00:27:49.760 goes to during bear markets, then

the 200 703 00:27:49.760 --> 00:27:51.820 week is your friend. Obviously, the 200 week 704 00:27:51.820 --> 00:27:54.240 is roughly four years. Bitcoin, of course, operates 705 00:27:54.240 --> 00:27:55.660 on a four -year cycle. It's nice and 706 00:27:55.660 --> 00:27:57.080 very clean. This is just the average price 707 00:27:57.080 --> 00:27:58.920 of Bitcoin over the last four years. It 708 00:27:58.920 --> 00:28:01.060 held very well in 2019. In 2020, we 709 00:28:01.060 --> 00:28:02.820 were underneath it for all of eight days 710 00:28:02.820 --> 00:28:05.160 before coming back above it. 2020 is really 711 00:28:05.160 --> 00:28:07.960 the only thing that bucked. the trend. Obviously, 712 00:28:07.960 --> 00:28:09.260 throughout the entire summer, as you can see 713 00:28:09.260 --> 00:28:11.580 here, this is when the slew of crypto 714 00:28:11.580 --> 00:28:14.840 explosions began occurring, which dragged Bitcoin below the 715 00:28:14.840 --> 00:28:17.400 200 week. Initially, we started to recover, more 716 00:28:17.400 --> 00:28:20.280 crypto explosions, and then FTX right here. And 717 00:28:20.280 --> 00:28:22.660 I think at the widest, the 200 week 718 00:28:22.660 --> 00:28:24.740 here is at 23 .9K. Bitcoin at this 719 00:28:24.740 --> 00:28:25.680 point went all the way down to like 720 00:28:25.680 --> 00:28:29.400 15 .5. So we're talking an extremely steep 721 00:28:29.400 --> 00:28:31.600 correction, right? A 25 to 30 % correction 722 00:28:31.600 --> 00:28:34.960 underneath the 200 week before recover. But all 723 00:28:34.960 --> 00:28:38.960 things considered, typically speaking, Bitcoin ranges about 5, 724 00:28:38.960 --> 00:28:41.800 10 % within the 200 week, as you 725 00:28:41.800 --> 00:28:44.600 can see here as well. So, where do 726 00:28:44.600 --> 00:28:45.880 we stand today? Well, this is the next 727 00:28:45.880 --> 00:28:48.780 logical level up as far as potential support 728 00:28:48.780 --> 00:28:51.380 for Bitcoin goes. You can see here, right 729 00:28:51.380 --> 00:28:56.620 now, it's at about 67 .8K or so, 730 00:28:56.620 --> 00:28:59.300 $67 .8K or $500. So if some of 731 00:28:59.300 --> 00:29:00.660 you were watching this on replay, we might 732 00:29:00.660 --> 00:29:02.320 have already hit it. We managed to close 733 00:29:02.320 --> 00:29:05.340 yesterday above it. I expect to see a 734 00:29:05.340 --> 00:29:07.380 little bit of strength here, some choppiness sideways. 735 00:29:07.380 --> 00:29:08.760 If that breaks, then we've got a nice 736 00:29:08.760 --> 00:29:12.980 tight range here between the 60K level and 737 00:29:12.980 --> 00:29:16.820 the 65K level, 66 .5 or so. So 738 00:29:16.820 --> 00:29:19.180 either expect some choppiness here right around the 739 00:29:19.180 --> 00:29:21.260 200 week, just like we saw here, or 740 00:29:21.260 --> 00:29:23.000 expect us to dip a little bit lower 741 00:29:23.000 --> 00:29:24.780 toward the low end of that range. But 742 00:29:24.780 --> 00:29:27.980 either way, expect choppiness. I don't think you're 743 00:29:27.980 --> 00:29:30.020 going to see a massive violent move all 744 00:29:30.020 --> 00:29:31.640 the way down to 58K, like you observed 745 00:29:31.640 --> 00:29:33.360 over the last couple of days. the only 746 00:29:33.360 --> 00:29:35.780 reason you really saw this, it wasn't a 747 00:29:35.780 --> 00:29:37.440 leverage flush. There was just people selling their 748 00:29:37.440 --> 00:29:39.940 Bitcoin for whatever reason, right? They were sort 749 00:29:39.940 --> 00:29:41.300 of catching up to the equity sell -off 750 00:29:41.300 --> 00:29:42.780 that occurred. But for some reason, in typical 751 00:29:42.780 --> 00:29:44.900 Bitcoin fashion, correlated on the way down, not 752 00:29:44.900 --> 00:29:46.440 correlated on the way up. These things are 753 00:29:46.440 --> 00:29:48.880 sort of inexplainable. Thankfully, it wasn't a leverage 754 00:29:48.880 --> 00:29:51.660 flush. It was spot selling. And the reason 755 00:29:51.660 --> 00:29:53.320 it really occurred is because there's just no 756 00:29:53.320 --> 00:29:57.160 logical support between the 200 -A, which we 757 00:29:57.160 --> 00:29:59.020 just lost and the 200 -week. Like, you 758 00:29:59.020 --> 00:30:01.040 look through here, it's just a massive air 759 00:30:01.040 --> 00:30:03.500 pocket. And so once we lost this, there 760 00:30:03.500 --> 00:30:04.780 was no reason to not go to the 761 00:30:04.780 --> 00:30:06.680 200 week. And I spoke about that earlier 762 00:30:06.680 --> 00:30:08.900 this week on a show that I made. 763 00:30:08.900 --> 00:30:09.820 And here we are. I didn't expect it 764 00:30:09.820 --> 00:30:11.620 to happen this soon, but here we are. 765 00:30:11.620 --> 00:30:13.980 And so, logically speaking, this is sort of 766 00:30:13.980 --> 00:30:16.480 where we're at. If we hold this and 767 00:30:16.480 --> 00:30:18.600 we close the week above the 200 week, 768 00:30:18.600 --> 00:30:20.620 that's fantastic news that we closed below it, 769 00:30:20.620 --> 00:30:22.260 a little bit more tenuous. Look out down 770 00:30:22.260 --> 00:30:25.080 below. The Anthropic IPO is next week. Once 771 00:30:25.080 --> 00:30:27.980 that's cleared, if Bitcoin manages to hold the 772 00:30:27.980 --> 00:30:30.160 200 week, we'll begin moving up into mid 773 00:30:30.160 --> 00:30:32.660 -December, I believe. If we fail that, I 774 00:30:32.660 --> 00:30:35.080 think we'll chop around until mid -December, barring 775 00:30:35.080 --> 00:30:38.020 a massive equity sell -off. Like, let's just 776 00:30:38.020 --> 00:30:40.060 say hypothetically, the correction we saw in equities 777 00:30:40.060 --> 00:30:41.880 after the massive sell -off early last week 778 00:30:41.880 --> 00:30:44.060 was just a correction. And the bear market 779 00:30:44.060 --> 00:30:47.740 in equities is fully on. That's the only 780 00:30:47.740 --> 00:30:49.200 scenario in which I can see Bitcoin going 781

00:30:49.200 --> 00:30:51.340 lower than $58K. I genuinely don't see it 782 00:30:51.340 --> 00:30:53.360 going any lower. If we don't chop here, 783 00:30:53.360 --> 00:30:54.720 we'll chop around there with sort of a 784 00:30:54.720 --> 00:30:57.600 floor at like $62K. And then if we 785 00:30:57.600 --> 00:30:59.500 see a major equity correction, Bitcoin goes lower 786 00:30:59.500 --> 00:31:01.720 than that. But I just don't see a 787 00:31:01.720 --> 00:31:04.740 2020. S. discounts to the 200 week moving 788 00:31:04.740 --> 00:31:09.420 average without an actual 2022 -esque event, if 789 00:31:09.420 --> 00:31:13.140 that makes sense. I always, I keep on 790 00:31:13.140 --> 00:31:16.680 feeling like the bear market this time is 791 00:31:16.680 --> 00:31:19.140 lasting forever, just because sentiment was kind of, 792 00:31:19.140 --> 00:31:21.140 kind of crap in there, and there's been, 793 00:31:21.140 --> 00:31:24.400 you know, the hits to, you know, Bitcoin 794 00:31:24.400 --> 00:31:27.760 on a, we'll call it on a more, 795 00:31:27.760 --> 00:31:30.660 I don't know, personal level, I suppose. Like, 796 00:31:30.660 --> 00:31:34.080 you know, we had the the back and 797 00:31:34.080 --> 00:31:37.080 forth at everybody for the Bip 110, all 798 00:31:37.080 --> 00:31:39.080 that kind of crap, flushing that out. But 799 00:31:39.080 --> 00:31:41.740 then we had this self -custody disaster through 800 00:31:41.740 --> 00:31:44.900 the summer with cold card. And then just 801 00:31:44.900 --> 00:31:47.560 kind of, it's just been vulnerabilities left, right 802 00:31:47.560 --> 00:31:51.120 and center. You know, not only Bitcoin, but 803 00:31:51.120 --> 00:31:53.300 it just doesn't help when you're constantly kind 804 00:31:53.300 --> 00:31:56.380 of looking over your shoulder. It's easy to 805 00:31:56.380 --> 00:31:59.940 forget that even last, the beginning of last 806 00:31:59.940 --> 00:32:04.040 cycle, it was unprecedented. for us to hit 807 00:32:04.040 --> 00:32:06.980 a new all -time high pre -having. And 808 00:32:06.980 --> 00:32:08.900 we're still, what, a year and a bit 809 00:32:08.900 --> 00:32:10.660 out from the having? I'm not quite sure 810 00:32:10.660 --> 00:32:12.340 when the, I'll look when the next having 811 00:32:12.340 --> 00:32:15.120 is. But it's, we're a ways away from 812 00:32:15.120 --> 00:32:18.780 even that. And before this last cycle, we 813 00:32:18.780 --> 00:32:20.820 typically never hit a new all -time high 814 00:32:20.820 --> 00:32:25.820 until well after the having. So, you know, 815 00:32:25.820 --> 00:32:28.780 I guess just hang in there is my 816 00:32:28.780 --> 00:32:32.660 message to everybody. It's, uh, I know it's, 817 00:32:32.660 --> 00:32:35.300 you know, it feels, uh, like it's just 818 00:32:35.300 --> 00:32:37.800 dragon, but, um, you know, the people that 819 00:32:37.800 --> 00:32:40.160 use the opportunity, you know, if do you 820 00:32:40.160 --> 00:32:43.420 ever think Bitcoin will ever even just reattain 821 00:32:43.420 --> 00:32:47.560 its previous top price? If so, I mean, 822 00:32:47.560 --> 00:32:49.820 you got a 50 % discount right now. 823 00:32:49.820 --> 00:32:51.120 So I'll give you a bit of data 824 00:32:51.120 --> 00:32:54.100 here, Joe, I love the 200 week. I 825 00:32:54.100 --> 00:32:56.040 tweeted today about the 50 month, basically the 826 00:32:56.040 --> 00:32:58.860 same number. Okay, Joe, you're the, uh, you're 827 00:32:58.860 --> 00:33:00.940 the lion's guy in the room here. since 828 00:33:00.940 --> 00:33:04.620 2014, every time it trades around this level, 829 00:33:04.620 --> 00:33:06.860 call it the 50 month moving average, what 830 00:33:06.860 --> 00:33:09.860 do you think buyers are up at minimum 831 00:33:09.860 --> 00:33:13.700 two years later? Sorry about that. My wife 832 00:33:13.700 --> 00:33:15.100 just texted me a selfie of the baby 833 00:33:15.100 --> 00:33:17.820 sleeping. Excellent. We love you. Love to hear 834 00:33:17.820 --> 00:33:19.500 that. I could run through a wall. Love 835 00:33:19.500 --> 00:33:23.580 to hear that. Yes. Bitcoin at the 50 836 00:33:23.580 --> 00:33:25.720 month moving average, 200 week moving average. They're 837 00:33:25.720 --> 00:33:27.460 very close. If you were a buyer at 838 00:33:27.460 --> 00:33:29.760 that level since 2014, what is the minimum 839 00:33:29.760 --> 00:33:32.100 you were. up two years later. Oh, my 840 00:33:32.100 --> 00:33:33.780 gosh. You were up. So I did a 841 00:33:33.780 --> 00:33:35.680 video, not on this specifically, but I did 842 00:33:35.680 --> 00:33:39.240 over any, over any, uh,! Interval similar to 843 00:33:39.240 --> 00:33:40.480 this. And I'll tell you what the number 844 00:33:40.480 --> 00:33:41.520 is if you want to hear it. Okay, 845 00:33:41.520 --> 00:33:43.800 tell me what the number is. 177%. There 846 00:33:43.800 --> 00:33:46.340 you go. Bang. Undefeated. Yeah. So I found, 847 00:33:46.340 --> 00:33:48.380 um, gosh, I think it was the analysis 848 00:33:48.380 --> 00:33:52.800 I did in, uh, yesterday's video, was moments 849 00:33:52.800 --> 00:33:56.440 like this, when Bitcoin was this underpriced relative 850 00:33:56.440 --> 00:33:59.920 to stocks relative to gold. And this close 851 00:33:59.920 --> 00:34:01.060 to the two in a week moving average 852 00:34:01.060 --> 00:34:03.180 in the year that followed like on a 853 00:34:03.180 --> 00:34:04.760 median basis you're going to be have 120 854 00:34:04.760 --> 00:34:06.780 % do you do the rs i joe 855 00:34:06.780 --> 00:34:08.120 in your analysis i didn't look at any 856 00:34:08.120 --> 00:34:10.220 rs i stuff like i don't but it's 857 00:34:10.220 --> 00:34:11.700 got it's got to be way oversold at 858 00:34:11.700 --> 00:34:14.200 this level has to be yeah you you 859 00:34:14.200 --> 00:34:16.900 can't have something like this happen and have 860 00:34:16.900 --> 00:34:18.940 it not be oversold yeah so like for 861 00:34:18.940 -->

00:34:20.980 for again and this is also i i 862 00:34:20.980 --> 00:34:23.020 just did a i just wrapped up a 863 00:34:23.020 --> 00:34:24.820 a live call with my group it's like 864 00:34:24.820 --> 00:34:27.480 in times like these the bulls get like 865 00:34:27.480 --> 00:34:29.580 the bears get way too overzealous and so 866 00:34:29.580 --> 00:34:31.060 i'm sure you guys are seeing people call 867 00:34:31.060 --> 00:34:33.180 for like 40k they're like yep i knew 868 00:34:33.180 --> 00:34:35.380 it 40k's on the way and in the 869 00:34:35.380 --> 00:34:36.880 same way when we were closing in on 870 00:34:36.880 --> 00:34:39.860 126k where we were we top last year 871 00:34:39.860 --> 00:34:42.180 people were saying guys quarter million dollars is 872 00:34:42.180 --> 00:34:44.240 just a hop -skipping to jump away everyone 873 00:34:44.240 --> 00:34:45.800 gets overzealous at these points and so it's 874 00:34:45.800 --> 00:34:48.080 important to zoom out understand like why is 875 00:34:48.080 --> 00:34:50.420 this something happening how overbought or oversold are 876 00:34:50.420 --> 00:34:53.460 we and like just look at the technical 877 00:34:53.460 --> 00:34:54.800 levels and then also look at the amount 878 00:34:54.800 --> 00:34:56.200 of time bitcoin is spent in these ranges 879 00:34:56.200 --> 00:34:58.120 and like yes it is astrology to some 880 00:34:58.120 --> 00:35:00.220 degree but also understand that like like the 881 00:35:00.220 --> 00:35:02.240 macro backdrop is tight, the anthropic IPO is 882 00:35:02.240 --> 00:35:03.960 next week, two more Fed rate hikes just 883 00:35:03.960 --> 00:35:05.680 came on the table after a hot print. 884 00:35:05.680 --> 00:35:08.000 We had an massive equity correction. Like a 885 00:35:08.000 --> 00:35:09.240 little bit of air being let out of 886 00:35:09.240 --> 00:35:10.740 Bitcoin is not the end of the world, 887 00:35:10.740 --> 00:35:13.640 particularly when we're still not even close to 888 00:35:13.640 --> 00:35:31.040 the cycle bottom. Love it. which is right 889 00:35:31.040 --> 00:35:34.100 where the what do you call it the 890 00:35:34.100 --> 00:35:36.060 200 -week movie averages, then we break below 891 00:35:36.060 --> 00:35:38.960 the power law floor. That model is validated. 892 00:35:38.960 --> 00:35:41.000 So that's another thing to consider. So a 893 00:35:41.000 --> 00:35:43.060 lot of people arguably will be defending that. 894 00:35:43.060 --> 00:35:44.760 But if you take a look here and, 895 00:35:44.760 --> 00:35:45.820 Ben, do your point about the feeling that 896 00:35:45.820 --> 00:35:48.280 this Bitcoin bear market is drawn on forever, 897 00:35:48.280 --> 00:35:51.160 if the bottom was in all the way 898 00:35:51.160 --> 00:35:52.700 back in June, which is still my case 899 00:35:52.700 --> 00:35:53.980 that it is, then it was actually the 900 00:35:53.980 --> 00:35:56.300 shortest bear market on record. However, as of 901 00:35:56.300 --> 00:35:59.660 today,

ironically, literally as of today, this, this 902 00:35:59.660 --> 00:36:01.220 is, This is officially, if we find a 903 00:36:01.220 --> 00:36:03.260 newer low, this is the longest bare market 904 00:36:03.260 --> 00:36:05.940 in history. The reason you don't see any 905 00:36:05.940 --> 00:36:09.500 new data for today is because this chart 906 00:36:09.500 --> 00:36:13.500 stops at the 2013 -2015 cycle, because that 907 00:36:13.500 --> 00:36:15.500 was the longest bear market. If we find 908 00:36:15.500 --> 00:36:17.860 another low and factoring in the time it 909 00:36:17.860 --> 00:36:19.480 will take to find another low and just 910 00:36:19.480 --> 00:36:21.080 not assuming it'll fall there in the next 911 00:36:21.080 --> 00:36:23.680 week, then this will be by several weeks, 912 00:36:23.680 --> 00:36:25.540 if not several months, the longest bear market 913 00:36:25.540 --> 00:36:27.100 on record. But I don't think it'll be 914 00:36:27.100 --> 00:36:30.760 that way, but just wanted to highlight. that 915 00:36:30.760 --> 00:36:32.140 data point because I feel like that's pretty 916 00:36:32.140 --> 00:36:34.520 significant. That's awesome. I got a couple quick 917 00:36:34.520 --> 00:36:35.920 things to throw in there. First and foremost, 918 00:36:35.920 --> 00:36:36.900 I want to point out, for those of 919 00:36:36.900 --> 00:36:38.500 you that don't know, that Joe's monitor is 920 00:36:38.500 --> 00:36:40.700 actually so big, you can hear when he 921 00:36:40.700 --> 00:36:42.080 has to move away to go look at 922 00:36:42.080 --> 00:36:43.380 the other side of the screen. Things the 923 00:36:43.380 --> 00:36:45.320 beast, I've seen it for. It looks like 924 00:36:45.320 --> 00:36:48.700 a skateboard. It's amazing. That's great. And then 925 00:36:48.700 --> 00:36:50.740 for any of our wonderful friends that may 926 00:36:50.740 --> 00:36:51.880 be hanging out at an airport, a couple 927 00:36:51.880 --> 00:36:53.820 quick updates, over 9 ,000 flights are now 928 00:36:53.820 --> 00:36:56.840 delayed. Nav Canada is monitoring the situation closely 929 00:36:56.840 --> 00:36:58.280 with nothing grounded as of yet. There's no 930 00:36:58.280 --> 00:37:00.480 US departures scheduled. something kind of out of 931 00:37:00.480 --> 00:37:03.960 Toronto Pearson. And it has been extended, expected 932 00:37:03.960 --> 00:37:06.760 to 1130 p .m. Eastern now as well. 933 00:37:06.760 --> 00:37:08.680 So that time is getting pushed up. Just 934 00:37:08.680 --> 00:37:09.820 want to get those in there. Brandon, your 935 00:37:09.820 --> 00:37:12.640 thoughts on Bitcoin not doing so good. Yeah, 936 00:37:12.640 --> 00:37:14.540 I mean, these are great points. I love, 937 00:37:14.540 --> 00:37:15.760 you know, the joy, the chart that you 938 00:37:15.760 --> 00:37:17.480 posted earlier today. And then what you're showing 939 00:37:17.480 --> 00:37:20.860 here, Joe, so good. You know, again, there's 940 00:37:20.860 --> 00:37:23.560 all this

negativity. And again, I think Ben, 941 00:37:23.560 --> 00:37:24.640 you would kind of mention that. Like all 942 00:37:24.640 --> 00:37:26.880 the negative stuff that's happened this year, every 943 00:37:26.880 --> 00:37:29.680 bull and bearer has their own different uniqueness. 944 00:37:29.680 --> 00:37:31.220 to it, right? The different events that happen, 945 00:37:31.220 --> 00:37:33.540 the different Black Swans that happen, the China 946 00:37:33.540 --> 00:37:35.000 ban. Like, some of these things can't happen 947 00:37:35.000 --> 00:37:37.580 over again. So they, other things happen, which 948 00:37:37.580 --> 00:37:39.640 extends it like Joe just said or whatever 949 00:37:39.640 --> 00:37:41.140 it might happen. So all the negativity that's 950 00:37:41.140 --> 00:37:43.180 happened to Bitcoin this year, the forking and 951 00:37:43.180 --> 00:37:45.220 the custody stuff is, it is pretty remarkable 952 00:37:45.220 --> 00:37:47.100 to see how much we have held, even 953 00:37:47.100 --> 00:37:49.780 though it's painful. And, you know, you're sucked 954 00:37:49.780 --> 00:37:51.700 back into like cheap sats, which is amazing, 955 00:37:51.700 --> 00:37:53.500 right? People have worried about how are the 956 00:37:53.500 --> 00:37:55.280 plebs going to get in. Well, they've had 957 00:37:55.280 --> 00:37:56.980 17 years to get in. And then we've 958 00:37:56.980 --> 00:37:58.600 tried to power rank, who's a pleb, who's 959 00:37:58.600 --> 00:38:00.580 not? not, can the big guys get in? 960 00:38:00.580 --> 00:38:02.120 What is Sailor doing? And of course, it's 961 00:38:02.120 --> 00:38:04.560 permission money. It's money for enemy. So everyone 962 00:38:04.560 --> 00:38:05.780 can get in at any time. And that's 963 00:38:05.780 --> 00:38:08.020 the beauty of it. And, you know, at 964 00:38:08.020 --> 00:38:08.780 the end of the day, what does it, 965 00:38:08.780 --> 00:38:11.260 what does it prove to all of us? 966 00:38:11.260 --> 00:38:12.520 Like some of the things that have happened, 967 00:38:12.520 --> 00:38:14.800 like is there isn't where are there is 968 00:38:14.800 --> 00:38:17.620 there price suppression? You know, and at just 969 00:38:17.620 --> 00:38:19.760 a global scale, like how much do people 970 00:38:19.760 --> 00:38:21.220 care about sound money, right? How much do 971 00:38:21.220 --> 00:38:23.720 they know about money? How much are people 972 00:38:23.720 --> 00:38:25.540 looking for dopamine hits? You know, because I 973 00:38:25.540 --> 00:38:26.800 think a lot of us, the Bitcoiners, we 974 00:38:26.800 --> 00:38:28.340 look at it and we're like, it's just 975 00:38:28.340 --> 00:38:30.400 so obvious. You know where the system's going. 976 00:38:30.400 --> 00:38:32.000 You know where things are headed. You've seen 977 00:38:32.000 --> 00:38:35.120 this playing out your entire life. And you 978 00:38:35.120 --> 00:38:38.060 know, okay, I need to position myself somewhere. 979 00:38:38.060 --> 00:38:39.320

But is it, hey, I'm just, you know, 980 00:38:39.320 --> 00:38:40.980 society is addicted to these dopamine hits? Or 981 00:38:40.980 --> 00:38:41.980 is it the fear of stuff we were 982 00:38:41.980 --> 00:38:44.040 kind of talking about earlier? Or is it 983 00:38:44.040 --> 00:38:47.440 the state -sponsored FUD endlessly for 17 years, 984 00:38:47.440 --> 00:38:49.320 like we said, and I'm a big proponent 985 00:38:49.320 --> 00:38:51.140 of most of the, almost all FUD is 986 00:38:51.140 --> 00:38:52.580 come from the state in some way, shape, 987 00:38:52.580 --> 00:38:53.940 or fashion? Is it just a part of 988 00:38:53.940 --> 00:38:56.040 the younger crowd needs to be more involved? 989 00:38:56.040 --> 00:38:58.440 It's just time doing the heavy lifting. People 990 00:38:58.440 --> 00:39:00.540 are used to stocks. I mean, I don't 991 00:39:00.540 --> 00:39:02.000 know how many people, you know, think about 992 00:39:02.000 --> 00:39:03.540 it or no, but in the 20th century, 993 00:39:03.540 --> 00:39:05.680 you had, you know, stocks were just, you 994 00:39:05.680 --> 00:39:07.400 know, this, this thing that was just, you 995 00:39:07.400 --> 00:39:08.660 know, not pie in the sky, but it 996 00:39:08.660 --> 00:39:10.140 was this thing that people didn't, they weren't 997 00:39:10.140 --> 00:39:11.860 really into it, right? Like, it wasn't something 998 00:39:11.860 --> 00:39:13.180 where you just jumped on, you didn't have 999 00:39:13.180 --> 00:39:15.460 internet, obviously, but people weren't trading in stocks 1000 00:39:15.460 --> 00:39:16.700 all the time. And as the 20th century 1001 00:39:16.700 --> 00:39:19.860 wore on, then they'll really call it what, 1002 00:39:19.860 --> 00:39:21.640 probably the 80s, it really became this thing 1003 00:39:21.640 --> 00:39:22.960 where people started to get it into the 1004 00:39:22.960 --> 00:39:24.500 stock market. Are we going to see that, 1005 00:39:24.500 --> 00:39:25.520 well, are we going to see it and 1006 00:39:25.520 --> 00:39:27.500 when do we see that switch from, hey, 1007 00:39:27.500 --> 00:39:29.520 you know what, the stocks, we're transferring from 1008 00:39:29.520 --> 00:39:32.060 that world to this sound money world, we'll 1009 00:39:32.060 --> 00:39:34.540 call it, whether it's, you know, metals, Bitcoin, 1010 00:39:34.540 --> 00:39:36.860 things of that nature. That, that to me 1011 00:39:36.860 --> 00:39:38.320 are some of the questions I think of, 1012 00:39:38.320 --> 00:39:40.060 and when do we have these transition periods 1013 00:39:40.060 --> 00:39:42.620 to this? Because, you know, part of your 1014 00:39:42.620 --> 00:39:44.360 mind just thinks, like, how is it taking 1015 00:39:44.360 --> 00:39:47.700 this long with all the information out there? 1016 00:39:47.700 --> 00:39:50.000 and the ability to look up things up, 1017 00:39:50.000 --> 00:39:51.800 whether it's AI or whatever it might be, 1018 00:39:51.800 --> 00:39:53.940 to go find the answers to what's

happening 1019 00:39:53.940 --> 00:39:55.500 in your life. And so that, that to 1020 00:39:55.500 --> 00:39:58.420 me, is really interesting. And what changes that? 1021 00:39:58.420 --> 00:40:04.080 What's, you know, so anyway, go ahead. I 1022 00:40:04.080 --> 00:40:05.520 wasn't trying to take over for anybody. I 1023 00:40:05.520 --> 00:40:07.280 was waiting for that end of rant, but 1024 00:40:07.280 --> 00:40:08.260 I guess you're not like Walker. You won't 1025 00:40:08.260 --> 00:40:09.480 team me up before we get in there. 1026 00:40:09.480 --> 00:40:11.460 I thought. I'm trying to take it. Oh, 1027 00:40:11.460 --> 00:40:12.500 no, no, your goal. And there. I'll get 1028 00:40:12.500 --> 00:40:14.000 Joey's taking just a second here. But also 1029 00:40:14.000 --> 00:40:15.060 just wanted to add, because I was getting 1030 00:40:15.060 --> 00:40:16.600 this in the back chat here. Congress approved 1031 00:40:16.600 --> 00:40:18.440 $12 .5 billion. last year to fix the 1032 00:40:18.440 --> 00:40:20.940 FAA's aging communication system. And on Friday, the 1033 00:40:20.940 --> 00:40:23.520 FAA and the White House asked Congress for 1034 00:40:23.520 --> 00:40:25.980 another $30 .1 billion. So I guess we 1035 00:40:25.980 --> 00:40:27.600 just need to keep doubling the budget. Also, 1036 00:40:27.600 --> 00:40:32.000 no, today's Friday the 13th. Oh, my God. 1037 00:40:32.000 --> 00:40:36.080 Everything is just stacking on. Also, first, there's 1038 00:40:36.080 --> 00:40:38.620 no official comments of foul play. Homeland Security 1039 00:40:38.620 --> 00:40:41.680 Secretary said there's no indication yet. I feel 1040 00:40:41.680 --> 00:40:42.760 like yet is doing a lot of work 1041 00:40:42.760 --> 00:40:44.760 in that sentence of nefarious acts behind the 1042 00:40:44.760 --> 00:40:47.500 communications issue. So I got there on that 1043 00:40:47.500 --> 00:40:50.520 one. Joey, your thoughts? Yeah, no further comment 1044 00:40:50.520 --> 00:40:51.600 at this time. I don't think about the 1045 00:40:51.600 --> 00:40:55.180 FAA stuff. I, you know, went into detail 1046 00:40:55.180 --> 00:40:56.720 a little bit with Joe and on my 1047 00:40:56.720 --> 00:40:58.860 own Twitter feed about the price of Bitcoin. 1048 00:40:58.860 --> 00:41:02.400 Look, Joe said it to. We are so, 1049 00:41:02.400 --> 00:41:03.760 I don't want to say tightly correlated, but 1050 00:41:03.760 --> 00:41:06.140 certainly correlated with markets on the way down. 1051 00:41:06.140 --> 00:41:08.120 And unfortunately, it's just not the same on 1052 00:41:08.120 --> 00:41:09.740 the way up. I had a conversation today 1053 00:41:09.740 --> 00:41:11.880 with a friend of mine who will remain 1054 00:41:11.880 --> 00:41:15.260 nameless about how there is, I think, there 1055 00:41:15.260 --> 00:41:17.720 is a transitional moment happening for Bitcoin. and 1056 00:41:17.720 --> 00:41:19.640 Bitcoiners right now, especially guys who have been 1057 00:41:19.640 --> 00:41:21.880 in it for a long time. And I'd 1058 00:41:21.880 --> 00:41:22.880 be curious to hear you guys' thoughts. I 1059 00:41:22.880 --> 00:41:24.480 don't know what the break cadences here. I 1060 00:41:24.480 --> 00:41:27.300 suspect we're close, but, you know, there was 1061 00:41:27.300 --> 00:41:29.380 a time in like 2017, 18, 19, where 1062 00:41:29.380 --> 00:41:31.340 you could buy Bitcoin with the expectation that 1063 00:41:31.340 --> 00:41:34.360 you were going to get rich, quickish, right? 1064 00:41:34.360 --> 00:41:36.100 This thing was on the come -up. Everyone 1065 00:41:36.100 --> 00:41:38.300 was sort of understanding that wealth preservation was 1066 00:41:38.300 --> 00:41:41.280 important and not necessarily limited to equities and 1067 00:41:41.280 --> 00:41:43.520 real estate and all that stuff. Those people 1068 00:41:43.520 --> 00:41:45.720 were right. That era did make out like 1069 00:41:45.720 --> 00:41:47.980 bandits, right? if you are buyer in 2017, 1070 00:41:47.980 --> 00:41:51.180 18, 19, whatever. And again, in COVID, obviously, 1071 00:41:51.180 --> 00:41:53.240 you know, you did very well. But now 1072 00:41:53.240 --> 00:41:55.800 it feels to me and to this person 1073 00:41:55.800 --> 00:41:57.860 as well that Bitcoin, and I've said this 1074 00:41:57.860 --> 00:41:59.220 too, maybe in not so many words, and 1075 00:41:59.220 --> 00:42:01.120 we've all, I think, agreed on this. It's 1076 00:42:01.120 --> 00:42:03.740 about preserving both wealth and freedom in a 1077 00:42:03.740 --> 00:42:05.680 way that maybe it wasn't a few years 1078 00:42:05.680 --> 00:42:08.580 ago. You know, you have your black rocks 1079 00:42:08.580 --> 00:42:11.140 involved now. You have your governments involved now. 1080 00:42:11.140 --> 00:42:14.120 It's a known asset. The friends who didn't 1081 00:42:14.120 --> 00:42:15.820 know anything about it five years ago, not 1082 00:42:15.820 --> 00:42:19.160 tell you it's boring in 2026. And I 1083 00:42:19.160 --> 00:42:23.300 don't think there's less value in holding Bitcoin. 1084 00:42:23.300 --> 00:42:24.980 But I do think the likelihood that you're 1085 00:42:24.980 --> 00:42:26.540 going to see, you know, and you pointed 1086 00:42:26.540 --> 00:42:29.440 out, Joe, too, in your chart analysis there, 1087 00:42:29.440 --> 00:42:32.040 violent moves to the upside that change your 1088 00:42:32.040 --> 00:42:34.320 life, you know, in a night or in 1089 00:42:34.320 --> 00:42:36.900 a quarter or even in a year. You 1090 00:42:36.900 --> 00:42:38.280 know, I hate to say it, but it 1091 00:42:38.280 --> 00:42:39.920 feels to me like those days might be 1092 00:42:39.920 --> 00:42:43.640 done short of some significant and immediate and 1093 00:42:43.640 --> 00:42:48.140 overwhelming government intervention. as far as liquidity injections 1094 00:42:48.140 --> 00:42:50.520 and stuff like that. So it's not a 1095 00:42:50.520 --> 00:42:53.560 bad thing. That comes with a maturing

asset. 1096 00:42:53.560 --> 00:42:55.360 I think a lot of times Bitcoiners in 1097 00:42:55.360 --> 00:42:59.960 the 2020, 2021, 2022, maybe even before, guys 1098 00:42:59.960 --> 00:43:03.000 like Rochard and Bittstein, you know, that era 1099 00:43:03.000 --> 00:43:06.860 of Bitcoin thinker, we always had to deal 1100 00:43:06.860 --> 00:43:09.460 with criticism about volatility. And one of the 1101 00:43:09.460 --> 00:43:11.980 things we said was that we were going 1102 00:43:11.980 --> 00:43:15.460 to experience less volatility as the asset class 1103 00:43:15.460 --> 00:43:18.240 became more liquid and more mature. And we're 1104 00:43:18.240 --> 00:43:20.060 seeing that now. Is that not what we 1105 00:43:20.060 --> 00:43:22.840 wanted years ago? That goes both ways, you 1106 00:43:22.840 --> 00:43:25.280 know, that violent move to the upside is 1107 00:43:25.280 --> 00:43:26.880 not going to be there. And also, you're 1108 00:43:26.880 --> 00:43:29.920 not going to see these drops, you know, 1109 00:43:29.920 --> 00:43:32.480 50 % in a week or whatever, like 1110 00:43:32.480 --> 00:43:33.720 you did in the past, right, short of 1111 00:43:33.720 --> 00:43:36.300 exchange blowups and whatnot. But a great example 1112 00:43:36.300 --> 00:43:37.760 of this is the Binance thing. The Binance 1113 00:43:37.760 --> 00:43:39.360 thing would have sent us, you know, the 1114 00:43:39.360 --> 00:43:42.480 seventh circle of hell five years ago. And, 1115 00:43:42.480 --> 00:43:44.220 you know, the week that just passed was 1116 00:43:44.220 --> 00:43:45.760 barely a blip, right? you're sort of more 1117 00:43:45.760 --> 00:43:47.880 correlated with Nvidia than you are with CZ. 1118 00:43:47.880 --> 00:43:50.440 That's a dream from 2020. And here we 1119 00:43:50.440 --> 00:43:52.000 are now, you know, some of us anyway 1120 00:43:52.000 --> 00:43:56.180 complaining about the correlation. So just take your 1121 00:43:56.180 --> 00:43:58.640 wins with your losses and enjoy the stability 1122 00:43:58.640 --> 00:44:01.820 of your, you know, favorite outside money asset. 1123 00:44:01.820 --> 00:44:03.800 Because it wasn't like that years ago, man. 1124 00:44:03.800 --> 00:44:07.220 We dealt with whiplash for a long, long, 1125 00:44:07.220 --> 00:44:09.840 long time in this space. Now you have 1126 00:44:09.840 --> 00:44:11.080 this thing that's a little more calm and 1127 00:44:11.080 --> 00:44:12.600 a little more palatable, which is nice for 1128 00:44:12.600 --> 00:44:15.000 some people. Well, the highs of knowing that 1129 00:44:15.000 --> 00:44:16.780 you were right comes from all these lows 1130 00:44:16.780 --> 00:44:18.480 of everyone thinking that you're wrong. So just 1131 00:44:18.480 --> 00:44:20.400 go, just feel right. That's part of it. 1132 00:44:20.400 --> 00:44:21.560 That's part of it too, right? Can you 1133 00:44:21.560 --> 00:44:23.280 duck on your group chat? Yes or no? 1134 00:44:23.280 --> 00:44:24.240 Yeah, just give it time. By the way, 1135 00:44:24.240 --> 00:44:25.480 I did find another update here. I think 1136 00:44:25.480 --> 00:44:27.560 we may have found possibly the issue that's 1137 00:44:27.560 --> 00:44:28.700 going on. I just want to throw that 1138 00:44:28.700 --> 00:44:31.000 one in there quick. Maybe related to some 1139 00:44:31.000 --> 00:44:32.900 of the air traffic problems. This is the 1140 00:44:32.900 --> 00:44:36.000 most sloppy AI graphic you'll ever see on 1141 00:44:36.000 --> 00:44:37.140 this show. He put that together. Look at 1142 00:44:37.140 --> 00:44:41.100 all of the artifacts. I know. It's crazy. 1143 00:44:41.100 --> 00:44:44.280 Ben. Ben. Beautifully done. I have no complaints. 1144 00:44:44.280 --> 00:44:47.600 Zero notes. I love it. Joe, I did 1145 00:44:47.600 --> 00:44:51.900 want to ask as well, with Bitcoin, taking 1146 00:44:51.900 --> 00:44:53.780 a bit of a dump, although, again, as 1147 00:44:53.780 --> 00:44:57.440 Joey said, not as crazy as previous bear 1148 00:44:57.440 --> 00:45:01.960 markets. However, just looking over at Strategy, Michael 1149 00:45:01.960 --> 00:45:05.760 Saylor, all that stuff, they have a, I 1150 00:45:05.760 --> 00:45:10.860 think, a $75 ,000 average purchase price. what 1151 00:45:10.860 --> 00:45:17.020 is that doing to MSTR and that umbrella 1152 00:45:17.020 --> 00:45:20.360 of assets right now? Right. Yeah, so, I 1153 00:45:20.360 --> 00:45:23.880 mean, as far as strategy stock is concerned, 1154 00:45:23.880 --> 00:45:25.120 you're going to continue to see a major 1155 00:45:25.120 --> 00:45:28.820 sell -off leading into November 30th of date 1156 00:45:28.820 --> 00:45:30.900 when all of the MSCI ETS are forced 1157 00:45:30.900 --> 00:45:37.140 to sell. these, the MSCR common stock, and 1158 00:45:37.140 --> 00:45:39.060 also Bitcoin being dragged down quite a bit 1159 00:45:39.060 --> 00:45:40.820 doesn't help. As far as their average purchase 1160 00:45:40.820 --> 00:45:46.460 price, now that their leverage ratio is, let 1161 00:45:46.460 --> 00:45:48.980 me look at these site, 3 .1%. Their 1162 00:45:48.980 --> 00:45:51.900 average purchase price doesn't really matter because they're 1163 00:45:51.900 --> 00:45:53.140 never going to be forced to sell their 1164 00:45:53.140 --> 00:45:55.920 Bitcoin. So, that's quite nice. I mean, if 1165 00:45:55.920 --> 00:45:58.460 anything, all it really means is that if 1166 00:45:58.460 --> 00:46:00.060 we do move into a sustained risk off 1167 00:46:00.060 --> 00:46:02.580 period. And let's say, STRC does super well 1168 00:46:02.580 --> 00:46:04.440 during a sustained risk off period, then they'll 1169 00:46:04.440 --> 00:46:05.560 be able to lower it. That's like the 1170 00:46:05.560 --> 00:46:07.680 first thing that comes to mind. But, yeah, 1171 00:46:07.680 --> 00:46:09.320 not too concerned about their average purchase price 1172 00:46:09.320 --> 00:46:11.400 because they don't use the Bitcoin as collateral 1173 00:46:11.400

--> 00:46:15.460 for anything. But it is expected to see 1174 00:46:15.460 --> 00:46:18.420 MSTR underperform more than it typically does as 1175 00:46:18.420 --> 00:46:20.140 Bitcoin continues selling off here because it also 1176 00:46:20.140 --> 00:46:23.920 has the event risk of the MSCI exclusion, 1177 00:46:23.920 --> 00:46:25.720 which just went into effect Wednesday or is 1178 00:46:25.720 --> 00:46:28.460 going to go into effect on November 30th 1179 00:46:28.460 --> 00:46:30.520 and all the force selling that will ensue 1180 00:46:30.520 --> 00:46:34.160 afterward. I do expect heavy dip buying, though, 1181 00:46:34.160 --> 00:46:36.300 because obviously, you've got, you know, the MSTR 1182 00:46:36.300 --> 00:46:37.800 true believers who are going to pile in 1183 00:46:37.800 --> 00:46:40.200 with all their money. Yeah, I was about 1184 00:46:40.200 --> 00:46:42.320 to ask if we could get a Joe 1185 00:46:42.320 --> 00:46:46.900 consortia analysis on Joey's bags between MSTR. I'll 1186 00:46:46.900 --> 00:46:48.280 tell you right now, what my, what is 1187 00:46:48.280 --> 00:46:50.500 my, what's the status of my bags here? 1188 00:46:50.500 --> 00:46:55.080 My MSTR bag is now underwater, hold on 1189 00:46:55.080 --> 00:46:58.980 a minute, it's now underwater. Oh, my goodness. 1190 00:46:58.980 --> 00:47:00.380 How do I, how do I see it? 1191 00:47:00.380 --> 00:47:01.760 Oh, here we go. Yes. I meant to 1192 00:47:01.760 --> 00:47:03.960 zoom out to 16%, so that's, so that's 1193 00:47:03.960 --> 00:47:07.180 not good. My Nvidia bag is up. I 1194 00:47:07.180 --> 00:47:09.380 mean, obviously, I'm a really forward thinker, so 1195 00:47:09.380 --> 00:47:10.740 I was in that for a long time. 1196 00:47:10.740 --> 00:47:13.160 But MSTR, not so much. Yeah, I'm going 1197 00:47:13.160 --> 00:47:15.080 lately there. And how, why didn't you see 1198 00:47:15.080 --> 00:47:18.320 the Huang thing coming? Hey, listen, three Wongs 1199 00:47:18.320 --> 00:47:19.780 don't make a right, okay? And so I'm 1200 00:47:19.780 --> 00:47:21.720 waiting for the fourth affair before I pass 1201 00:47:21.720 --> 00:47:26.260 judgment. Guys, the pre -show chat was lit. 1202 00:47:26.260 --> 00:47:30.140 It was nothing but Huang, like, just all 1203 00:47:30.140 --> 00:47:32.020 the puns that you could imagine. imagine. The 1204 00:47:32.020 --> 00:47:35.940 wrong memes are amazing. 30 Huang puns. I 1205 00:47:35.940 --> 00:47:37.020 thought we were all going to wear leather 1206 00:47:37.020 --> 00:47:38.800 jackets tonight in solid days. We got to 1207 00:47:38.800 --> 00:47:42.680 get with a big -ass logo. Yeah, exactly. 1208 00:47:42.680 --> 00:47:43.560 All right, Jens, we're going to go to 1209 00:47:43.560 --> 00:47:45.620 break here. On the other side of break, 1210 00:47:45.620 --> 00:47:46.660 Joe, I do want to come back to 1211 00:47:46.660 --> 00:47:48.760 you because there's some other stuff in and 1212 00:47:48.760 --> 00:47:51.600 around PPI inflation and a whole bunch of 1213 00:47:51.600 --> 00:47:54.300 numbers that would be good to have you 1214 00:47:54.300 --> 00:47:56.280 parse through a little bit while we're here. 1215 00:47:56.280 --> 00:47:57.900 Just give us kind of a broader view 1216 00:47:57.900 --> 00:47:59.780 of where we're at and what the hell 1217 00:47:59.780 --> 00:48:02.320 is going on. Plenty other stuff to touch 1218 00:48:02.320 --> 00:48:04.440 on as well. So everybody, stay tuned. Drop 1219 00:48:04.440 --> 00:48:06.840 a like, give a share. Toss a handful 1220 00:48:06.840 --> 00:48:08.500 of chairs in the chat. It's Friday the 1221 00:48:08.500 --> 00:48:11.020 13th. Make it bloody in there. We'll be 1222 00:48:11.020 --> 00:48:14.240 back in just a moment. The guys over 1223 00:48:14.240 --> 00:48:16.160 at Stamps Seed genuinely surprised me with this 1224 00:48:16.160 --> 00:48:17.060 one. I actually had to reach out and 1225 00:48:17.060 --> 00:48:19.060 double check before hitting record. So for the 1226 00:48:19.060 --> 00:48:20.620 month of November, they're having their best pricing 1227 00:48:20.620 --> 00:48:22.680 ever, and it's not even close. Their seed 1228 00:48:22.680 --> 00:48:25.720 stamping kit is 42 % off. Plus, promo 1229 00:48:25.720 --> 00:48:28.060 code BitCast still gets you another 15 % 1230 00:48:28.060 --> 00:48:29.340 off on top of that. And of course, 1231 00:48:29.340 --> 00:48:30.600 it works on everything else in the store. 1232 00:48:30.600 --> 00:48:32.540 clear code set included for your past phrases 1233 00:48:32.540 --> 00:48:34.560 and descriptors. If your seed phrase is still 1234 00:48:34.560 --> 00:48:36.240 on paper, it's never been cheaper to fix 1235 00:48:36.240 --> 00:48:38.360 that. 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They also guarantee uptime. 1274 00:50:01.560 --> 00:50:03.600 The machine goes down, their hash rate redirect 1275 00:50:03.600 --> 00:50:06.440 system routes hash power from their fleet, so 1276 00:50:06.440 --> 00:50:09.160 earnings don't just stop, and every machine is 1277 00:50:09.160 --> 00:50:12.780 insured at full replacement value. Everything is hosted 1278 00:50:12.780 --> 00:50:15.260 in the U .S., powered by hydro, and 1279 00:50:15.260 --> 00:50:18.300 mining equipment may qualify for 100 % year 1280 00:50:18.300 --> 00:50:22.240 -one bonus depreciation. Learn more at abundant mines 1281 00:50:22.240 --> 00:50:26.700 .com slash sessions. Also, just getting quick updates 1282 00:50:26.700 --> 00:50:28.800 in there with regards to the FAA situation. 1283 00:50:28.800 --> 00:50:30.940 An anonymous controller said the first notice was 1284 00:50:30.940 --> 00:50:33.260 the frequency issue at an East Coast airport 1285 00:50:33.260 --> 00:50:35.580 around 3 -36 p .m. Eastern. Two more 1286 00:50:35.580 --> 00:50:39.260 towers reported the same problem within minutes. Additionally, 1287 00:50:39.260 --> 00:50:40.820 an aggregator was saying there was suggesting that 1288 00:50:40.820 --> 00:50:43.320 some traffic might be being metered back in 1289 00:50:43.320 --> 00:50:46.120 at airports, but nothing officially confirmed. And the 1290 00:50:46.120 --> 00:50:48.180 no official end on the stop yet. Officially, 1291 00:50:48.180 --> 00:50:49.840 the stop is still in full four. So 1292 00:50:49.840 --> 00:50:52.380 no other changes to update you guys with, 1293 00:50:52.380 --> 00:50:53.580 but we'll keep watching that one as well. 1294 00:50:53.580 --> 00:50:57.920 Ben? Yeah. Joe, I wanted to toss to 1295 00:50:57.920 --> 00:51:01.540 you just in... Some of the new numbers 1296 00:51:01.540 --> 00:51:05.220 here, October PPI inflation rose to 6 .5%. 1297 00:51:05.220 --> 00:51:08.600 Apparently highest level since November of 2022, although 1298 00:51:08.600 --> 00:51:12.160 below expectations, I think they were expecting 6 1299 00:51:12.160 --> 00:51:17.880 .6. Core PPI, 5%. And then we've got, 1300 00:51:17.880 --> 00:51:21.140 what else, PPI, year over year, 6 .5 1301 00:51:21.140 --> 00:51:23.260 versus 6 .6 .6. We just said, month 1302 00:51:23.260 --> 00:51:27.310 over month, 0 .3 versus 0 .4 .4. 1303 00:51:27.310 --> 00:51:29.810 I just want to get your read on, 1304 00:51:29.810 --> 00:51:33.350 I mean, 6 .6 or 6 .5%, that's 1305 00:51:33.350 --> 00:51:37.530 still not a good looking number. So what 1306 00:51:37.530 --> 00:51:40.830 is going on? Where are we headed directionally, 1307 00:51:40.830 --> 00:51:42.910 do you think? Yeah, so I think my 1308 00:51:42.910 --> 00:51:44.790 camera tilted a little bit when I raised 1309 00:51:44.790 --> 00:51:47.210 my desk to standing. Sorry about that. It 1310 00:51:47.210 --> 00:51:49.350 might just be me, but it's really odd. 1311 00:51:49.350 --> 00:51:50.090 I've got to figure out how to do 1312 00:51:50.090 --> 00:51:53.290 this whole thing. Yeah, so as far as 1313 00:51:53.290 --> 00:51:54.750 PPI is concerned, this is sort of a 1314 00:51:54.750 --> 00:51:56.010 trend we're seeing a little bit across the 1315 00:51:56.010 --> 00:51:58.590 board. you can see it reflected in yields. 1316 00:51:58.590 --> 00:52:01.050 I'll actually share my screen. I just realized 1317 00:52:01.050 --> 00:52:03.350 in full screen. I don't have the ability 1318 00:52:03.350 --> 00:52:07.790 to share. Okay, here we go. So, PPI, 1319 00:52:07.790 --> 00:52:10.990 it disinflated a little bit in that the 1320 00:52:10.990 --> 00:52:13.270 prior month was 1 .4%. This month, it 1321 00:52:13.270 --> 00:52:15.590 came in at 0 .3%. Expectations were 0 1322 00:52:15.590 --> 00:52:18.830 .4. Same exact situation on the yearly cadence. 1323 00:52:18.830 --> 00:52:20.570 It accelerated on the yearly cadence, but that 1324 00:52:20.570 --> 00:52:23.790 was expected, less than anticipated. So inflation's accelerating 1325 00:52:23.790 --> 00:52:25.390 once again, not to the degree that people 1326 00:52:25.390 --> 00:52:29.230 were

expecting. And as such, you can see 1327 00:52:29.230 --> 00:52:32.710 here, big, massive route in the bond market 1328 00:52:32.710 --> 00:52:35.270 once again. So obviously, in October, we saw 1329 00:52:35.270 --> 00:52:37.930 massive, you know, multi -year highs on the 1330 00:52:37.930 --> 00:52:41.290 10 -year. Those reflect inflation and growth expectations. 1331 00:52:41.290 --> 00:52:44.270 And those reverse quite a bit up until 1332 00:52:44.270 --> 00:52:46.430 just last week. So just last week to 1333 00:52:46.430 --> 00:52:49.870 the day, we found our local bottom. And 1334 00:52:49.870 --> 00:52:51.850 now we're trending higher on the 10 -year, 1335 00:52:51.850 --> 00:52:53.550 on the two -year as well. So people 1336 00:52:53.550 --> 00:52:55.410 are expecting the Fed to be hiking into 1337 00:52:55.410 --> 00:52:57.010 this. it's about to make new highs for 1338 00:52:57.010 --> 00:52:59.770 the cycle. So yeah, seemingly a growth acceleration 1339 00:52:59.770 --> 00:53:02.570 here. not exactly ideal. Non -farm payrolls earlier 1340 00:53:02.570 --> 00:53:04.250 this week or late last week came in 1341 00:53:04.250 --> 00:53:07.150 and added 160 ,000 jobs, much higher than 1342 00:53:07.150 --> 00:53:09.390 expected. So yeah, seemingly a bit of a 1343 00:53:09.390 --> 00:53:11.830 growth acceleration. Not exactly the story you want 1344 00:53:11.830 --> 00:53:15.650 to hear, particularly considering Fed rate hike odds. 1345 00:53:15.650 --> 00:53:18.430 So Fed rate high gods just three or 1346 00:53:18.430 --> 00:53:20.290 four days ago prior to the first hot 1347 00:53:20.290 --> 00:53:22.850 inflation print we received this week were at 1348 00:53:22.850 --> 00:53:25.250 the likelihood of one rate hike in December 1349 00:53:25.250 --> 00:53:28.630 being basically totally locked in and then nothing 1350 00:53:28.630 --> 00:53:30.450 in January or March. They were going to 1351 00:53:30.450 --> 00:53:32.110 maintain the rate in January or March. It 1352 00:53:32.110 --> 00:53:35.930 was about 75 % to 25 % odds. 1353 00:53:35.930 --> 00:53:38.950 Now the money is basically saying we're probably 1354 00:53:38.950 --> 00:53:41.170 going to get three more rate hikes this 1355 00:53:41.170 --> 00:53:45.430 cycle at the very least. So obviously not 1356 00:53:45.430 --> 00:53:48.490 exactly ideal from a cost of capital perspective. 1357 00:53:48.490 --> 00:53:50.150 I tend to think that this will reverse 1358 00:53:50.150 --> 00:53:54.410 as inflation subsides because generally speaking, all that 1359 00:53:54.410 --> 00:53:56.710 the Fed really cares about is inflation. Full 1360 00:53:56.710 --> 00:53:59.390 employment right now is fine. The employment backdrop 1361 00:53:59.390 --> 00:54:02.170 is fine. I tend to think that producer 1362 00:54:02.170 --> 00:54:06.150 prices will begin cooling, along with consumer prices, 1363 00:54:06.150 --> 00:54:07.750 PCE, all of it as we had in 1364 00:54:07.750 --> 00:54:12.030 the next year

and energy declines. Because we'll 1365 00:54:12.030 --> 00:54:13.930 see here, wherever I put the WTI crude 1366 00:54:13.930 --> 00:54:17.190 oil chart, you can see here, crude futures 1367 00:54:17.190 --> 00:54:19.890 are down back to 87 buckeroonies, which is 1368 00:54:19.890 --> 00:54:23.230 quite insane. Basically, we're looking at, I like, 1369 00:54:23.230 --> 00:54:26.770 actually go out for one year. We're measuring 1370 00:54:26.770 --> 00:54:30.170 right now, inflation is being measured from all 1371 00:54:30.170 --> 00:54:31.950 the way back here. So we're measuring from 1372 00:54:31.950 --> 00:54:33.710 here to here. That's basically why it's so 1373 00:54:33.710 --> 00:54:36.690 elevated. Energy is basically the whole story as 1374 00:54:36.690 --> 00:54:39.550 far as why inflation, including PPI, remains elevated. 1375 00:54:39.550 --> 00:54:41.790 But beginning next March, we're going to be 1376 00:54:41.790 --> 00:54:43.990 measuring inflation, even if it stays right here, 1377 00:54:43.990 --> 00:54:45.710 we're going to be measuring inflation from here 1378 00:54:45.710 --> 00:54:49.450 to here, from the energy perspective, at least, 1379 00:54:49.450 --> 00:54:50.530 which will be huge, which will mean that 1380 00:54:50.530 --> 00:54:52.770 all of the monthly numbers beginning going down, 1381 00:54:52.770 --> 00:54:54.650 all of the year. numbers beginning going down, 1382 00:54:54.650 --> 00:54:55.850 these things that drive the Fed to make 1383 00:54:55.850 --> 00:54:58.290 the decisions that they do. And then eventually, 1384 00:54:58.290 --> 00:55:00.150 as a result of that, you see the 1385 00:55:00.150 --> 00:55:02.050 dollar basket come down to earth a little 1386 00:55:02.050 --> 00:55:04.310 bit. This is because of interest rate differentials. 1387 00:55:04.310 --> 00:55:06.610 And so to hike into this would be 1388 00:55:06.610 --> 00:55:08.150 really stupid. It would make the dollar even 1389 00:55:08.150 --> 00:55:11.710 stronger. And you're eventually going to see yields 1390 00:55:11.710 --> 00:55:13.590 reverse because of this. So I'm not betting 1391 00:55:13.590 --> 00:55:15.290 on three hikes. I'm fading this. I'm betting 1392 00:55:15.290 --> 00:55:17.170 on one hike and a hold, and then 1393 00:55:17.170 --> 00:55:18.730 maybe another hike in March. Then that's the 1394 00:55:18.730 --> 00:55:21.350 last one. But as of right now, nothing 1395 00:55:21.350 --> 00:55:23.230 too scary or serious going on in MacaRae. 1396 00:55:23.230 --> 00:55:26.730 Just a couple more hot inflation prints, sort 1397 00:55:26.730 --> 00:55:28.010 of in line with what we've been seeing 1398 00:55:28.010 --> 00:55:30.570 for most of this year. Hopefully, that was 1399 00:55:30.570 --> 00:55:32.150 okay. I just realized I was moving around 1400 00:55:32.150 --> 00:55:34.510 a ton when I was talking. Oh, no, 1401 00:55:34.510 --> 00:55:37.590 it's okay. I forgive you for that one. 1402 00:55:37.590 --> 00:55:38.970 So essentially, we're going to lose the base 1403 00:55:38.970 --> 00:55:41.090 effects coming up here, Joe, and then hopefully, 1404 00:55:41.090 --> 00:55:42.590 Markets will respond accordingly with the new data 1405 00:55:42.590 --> 00:55:44.590 print. Isn't it so weird that, like, they 1406 00:55:44.590 --> 00:55:45.790 all know that this is coming, yet they're 1407 00:55:45.790 --> 00:55:48.150 still going to react to the changes. It's 1408 00:55:48.150 --> 00:55:51.190 like, we see this coming 12 months away, 1409 00:55:51.190 --> 00:55:53.230 but they'll still act like it's breaking news. 1410 00:55:53.230 --> 00:55:55.250 Joe, your thoughts? Yeah, it's almost like, you 1411 00:55:55.250 --> 00:55:57.570 know, elected Fed officials are basically, they have 1412 00:55:57.570 --> 00:55:58.890 the collective IQ of like a barrel of 1413 00:55:58.890 --> 00:56:00.650 monkeys, you know, the barrel of monkeys, plastic 1414 00:56:00.650 --> 00:56:02.350 toys? Like, you string some of those together 1415 00:56:02.350 --> 00:56:04.850 and, like, jangle them around. I guarantee they'd 1416 00:56:04.850 --> 00:56:07.170 be able to make better policy decisions than 1417 00:56:07.170 --> 00:56:09.490 the Fed. I mean, look, this is sort 1418 00:56:09.490 --> 00:56:12.790 of, to be expected, right? The Fed makes 1419 00:56:12.790 --> 00:56:15.510 decisions based off of lagging data way too 1420 00:56:15.510 --> 00:56:17.650 late after they should have already made a 1421 00:56:17.650 --> 00:56:20.450 different decision, and this is no different. The 1422 00:56:20.450 --> 00:56:22.190 good news is, this doesn't really matter for 1423 00:56:22.190 --> 00:56:23.930 Bitcoin, all things, considered even if they do 1424 00:56:23.930 --> 00:56:25.330 wind up hiking some more. Here is a 1425 00:56:25.330 --> 00:56:27.970 chart of Bitcoin and the Fed funds rate. 1426 00:56:27.970 --> 00:56:30.030 We go over the last five years so 1427 00:56:30.030 --> 00:56:32.250 we could see the last cycle as well. 1428 00:56:32.250 --> 00:56:34.730 When the Fed was on hold, actually, and 1429 00:56:34.730 --> 00:56:36.810 this is another strange coincidence in addition to 1430 00:56:36.810 --> 00:56:39.610 the coincidence that happened earlier with this officially, 1431 00:56:39.610 --> 00:56:40.710 if we make a new low, this officially 1432 00:56:40.710 --> 00:56:42.610 being the longest Bitcoin bear market by one 1433 00:56:42.610 --> 00:56:45.710 day as we record this. You can see 1434 00:56:45.710 --> 00:56:47.290 here, this was the Bitcoin low of the 1435 00:56:47.290 --> 00:56:50.610 cycle. The Fed hiked, one, two, three, four 1436 00:56:50.610 --> 00:56:52.810 more times after this. You see this correctional, 1437 00:56:52.810 --> 00:56:54.090 right here, sort of this range that we're 1438 00:56:54.090 --> 00:56:56.170 in right now. It's very similar. The Fed 1439 00:56:56.170 --> 00:56:58.310 hiked, one, two, three more times after that, 1440 00:56:58.310 --> 00:57:00.870

and then they were on hold. Right now, 1441 00:57:00.870 --> 00:57:01.950 if we just strip all of that away, 1442 00:57:01.950 --> 00:57:03.470 if we ignore all of that, okay, let's 1443 00:57:03.470 --> 00:57:05.270 say all three hikes happen, right? The Fed 1444 00:57:05.270 --> 00:57:07.610 winds up hiking three more times, which is 1445 00:57:07.610 --> 00:57:08.870 the exact same amount of hikes that are 1446 00:57:08.870 --> 00:57:10.790 priced in today. Look at what Bitcoin did 1447 00:57:10.790 --> 00:57:12.390 over that period. Once the Fed was on 1448 00:57:12.390 --> 00:57:14.150 hold, there were no more rate hikes, Bitcoin 1449 00:57:14.150 --> 00:57:15.790 took off like a rocket chip. And that's 1450 00:57:15.790 --> 00:57:19.010 because risk assets, Bitcoin particularly, because it's so 1451 00:57:19.010 --> 00:57:20.790 sensitive, it doesn't really care about the path 1452 00:57:20.790 --> 00:57:22.570 race as much as the level of the 1453 00:57:22.570 --> 00:57:24.030 level of race as much it does the 1454 00:57:24.030 --> 00:57:25.730 path of rates. And this is because the 1455 00:57:25.730 --> 00:57:28.470 economy always adjusts. The economy adjusted to a 1456 00:57:28.470 --> 00:57:30.730 5 .5 % cost of capital up here, 1457 00:57:30.730 --> 00:57:31.870 just like it adjusted to a 0 % 1458 00:57:31.870 --> 00:57:33.850 cost of capital down here, right? And so 1459 00:57:33.850 --> 00:57:36.030 in the same way, markets adjust the same 1460 00:57:36.030 --> 00:57:38.310 way. What Bitcoin cares about is that the 1461 00:57:38.310 --> 00:57:41.130 Fed is no longer hiking. And so until 1462 00:57:41.130 --> 00:57:42.790 that happens, and I believe that that will 1463 00:57:42.790 --> 00:57:45.030 happen beginning around March, Bitcoin will sort of 1464 00:57:45.030 --> 00:57:47.450 be in this awkward in between chopping around 1465 00:57:47.450 --> 00:57:50.870 phase, right? It's very funny. this reminds me 1466 00:57:50.870 --> 00:57:52.870 a lot of the summer of 2024, although 1467 00:57:52.870 --> 00:57:55.170 they're much more violent swings. In the summer 1468 00:57:55.170 --> 00:57:57.590 of 2024, every time we were approaching the 1469 00:57:57.590 --> 00:57:59.270 upper end of this range right here, people 1470 00:57:59.270 --> 00:58:00.750 were going, we're so back. And then when 1471 00:58:00.750 --> 00:58:02.550 we fall down, it's it so over. But 1472 00:58:02.550 --> 00:58:05.130 the reality is, you know, we're going to 1473 00:58:05.130 --> 00:58:06.650 be sort of in this will -they -want 1474 00:58:06.650 --> 00:58:09.150 -they period until the Fed is on hold. 1475 00:58:09.150 --> 00:58:10.190 And then once the Fed is on hold, 1476 00:58:10.190 --> 00:58:11.450 you're going to see something very similar to 1477 00:58:11.450 --> 00:58:13.270 what occurred here. And then eventually you get 1478 00:58:13.270 --> 00:58:15.290 rate cuts, right? Because the other components of 1479 00:58:15.290 --> 00:58:17.370 the inflation basket with rates as high as 1480 00:58:17.370 --> 00:58:19.850 they are are already decelerated. This is an 1481 00:58:19.850 --> 00:58:23.370 energy story. Once energy decelerates, the Fed stops 1482 00:58:23.370 --> 00:58:25.650 hiking. You see Bitcoin take off like a 1483 00:58:25.650 --> 00:58:28.370 rocket chip, even with rates at where are 1484 00:58:28.370 --> 00:58:31.350 they going to land? 4 .5%, 4 .75%. 1485 00:58:31.350 --> 00:58:33.790 It's nothing Bitcoin hasn't been able to kick 1486 00:58:33.790 --> 00:58:36.790 off a bull market with before. Yeah. But 1487 00:58:36.790 --> 00:58:38.030 to answer your question, Nathan, the Fed is 1488 00:58:38.030 --> 00:58:40.990 really dumb. Good, good. Yep, that makes sense. 1489 00:58:40.990 --> 00:58:43.810 I like that. My identity accepts that. Brandon? 1490 00:58:43.810 --> 00:58:47.290 Yeah. It's interesting. Again, like I love all 1491 00:58:47.290 --> 00:58:49.330 these charts that Joe has great, great, great, 1492 00:58:49.330 --> 00:58:51.190 site you built, by the way. Love that. 1493 00:58:51.190 --> 00:58:54.690 Thank you. Brent, you know, again, we talked 1494 00:58:54.690 --> 00:58:55.930 about the city of London here a lot 1495 00:58:55.930 --> 00:58:58.530 and the pricing, LIBOR and so forth, Lloyd's 1496 00:58:58.530 --> 00:59:00.390 of London, all this stuff. And Brent fell 1497 00:59:00.390 --> 00:59:02.310 from what was 118, I believe, in October 1498 00:59:02.310 --> 00:59:06.770 30th, to about $91. You mentioned WTI, but 1499 00:59:06.770 --> 00:59:09.250 Brent's priced in London there. And it's just 1500 00:59:09.250 --> 00:59:10.930 incredible how right after the election, all of 1501 00:59:10.930 --> 00:59:14.090 a sudden, it just falls off the cliff. 1502 00:59:14.090 --> 00:59:15.650 And you go back to the hedge funds 1503 00:59:15.650 --> 00:59:18.490 and, and Bessent attacking the, you know, the 1504 00:59:18.490 --> 00:59:20.350 Cayman Islands, hedge funds there, a lot of 1505 00:59:20.350 --> 00:59:22.430 the, a lot of the stuff, obviously we've 1506 00:59:22.430 --> 00:59:23.890 been talking about this all year, but, you 1507 00:59:23.890 --> 00:59:25.410 know, those guys weren't happy. And we've talked 1508 00:59:25.410 --> 00:59:27.230 about this, too, the enemy gets a say 1509 00:59:27.230 --> 00:59:28.870 as well. And that's what makes us very 1510 00:59:28.870 --> 00:59:30.710 hard. It's not just like, oh, you come 1511 00:59:30.710 --> 00:59:32.890 in and get to do whatever you want 1512 00:59:32.890 --> 00:59:34.970 and just drop the hammer on everybody. You 1513 00:59:34.970 --> 00:59:36.170 know, the other side gets to play to, 1514 00:59:36.170 --> 00:59:37.390 as they say in sports, right? The other 1515 00:59:37.390 --> 00:59:39.870 team gets paid as well. And so they're 1516 00:59:39.870 --> 00:59:42.090 good. They know what's up. They were able 1517 00:59:42.090 --> 00:59:44.470 to, you know, strike back during the elections. 1518

00:59:44.470 --> 00:59:45.770 And, you know, Van Jones, even the other 1519 00:59:45.770 --> 00:59:47.650 days, you know, admitted as much, right? Which 1520 00:59:47.650 --> 00:59:49.330 we've talked about on this show, we alerted 1521 00:59:49.330 --> 00:59:51.410 everyone to like, hey, this is, you get 1522 00:59:51.410 --> 00:59:53.150 literally a bots everywhere. And Van Jones came 1523 00:59:53.150 --> 00:59:54.450 out, I forget what channel was on and 1524 00:59:54.450 --> 00:59:55.650 said, yeah, we literally just had a couple 1525 00:59:55.650 --> 00:59:57.710 thousand influencers. And then we just created millions 1526 00:59:57.710 --> 01:00:00.470 of bots and just parroted life's unaffordable, life's 1527 01:00:00.470 --> 01:00:02.470 unaffordable, life's unaffordable, life's unaffordable. And this is 1528 01:00:02.470 --> 01:00:05.510 how dumb they think the average person is. 1529 01:00:05.510 --> 01:00:07.730 Maybe they're right, maybe they're wrong. But here 1530 01:00:07.730 --> 01:00:09.390 we are. This goes back to what's his 1531 01:00:09.390 --> 01:00:11.990 name, the Jonathan Gruber, who's, I believe, still 1532 01:00:11.990 --> 01:00:16.150 a professor at MIT, I believe, actually, to 1533 01:00:16.150 --> 01:00:19.010 this day in 2012 or 2011 saying, yeah, 1534 01:00:19.010 --> 01:00:20.450 the American voter is just dumb. Like, we 1535 01:00:20.450 --> 01:00:22.430 needed to force Obamacare down your throat because 1536 01:00:22.430 --> 01:00:24.210 we wanted to control. We wanted to kill 1537 01:00:24.210 --> 01:00:27.470 the insurance healthcare industry. We wanted to have 1538 01:00:27.470 --> 01:00:30.570 national health care and death panels and everything. 1539 01:00:30.570 --> 01:00:31.830 And you were just too stupid to know 1540 01:00:31.830 --> 01:00:33.170 what was good for you. This is the 1541 01:00:33.170 --> 01:00:35.030 world we're living in right now. And to 1542 01:00:35.030 --> 01:00:37.550 me, that's why this exposure of the system 1543 01:00:37.550 --> 01:00:39.910 and what's been happening and in ripping out 1544 01:00:39.910 --> 01:00:42.490 all these energy choke points are so important. 1545 01:00:42.490 --> 01:00:45.670 And in the American system versus the crony 1546 01:00:45.670 --> 01:00:48.350 capitalist built on fiat fiat currencies and communism, 1547 01:00:48.350 --> 01:00:50.130 socialism, we can see we're just stuck in 1548 01:00:50.130 --> 01:00:52.390 this paradigm back and forth. And then we 1549 01:00:52.390 --> 01:00:53.950 all have to come in here and we 1550 01:00:53.950 --> 01:00:55.790 have smart guys like Joe, you have to 1551 01:00:55.790 --> 01:00:57.110 show us all these things. The average person 1552 01:00:57.110 --> 01:00:58.810 has to get in and start looking at 1553 01:00:58.810 --> 01:01:00.930 what Joe is doing. And when in reality, 1554 01:01:00.930 --> 01:01:02.090 the average person shouldn't have to be doing 1555 01:01:02.090 --> 01:01:02.950 those things, right? You should just be able 1556 01:01:02.950 --> 01:01:04.110 to save it and their money and store 1557 01:01:04.110 --> 01:01:05.930 time and energy and our value in that. 1558 01:01:05.930 --> 01:01:08.090 But we've got caught in this fake prison 1559 01:01:08.090 --> 01:01:10.610 of two ideas where we can only swing 1560 01:01:10.610 --> 01:01:12.250 back and forth. You see the young people, 1561 01:01:12.250 --> 01:01:14.030 they, you know, hey, we're capitalists and now 1562 01:01:14.030 --> 01:01:15.370 it's crony capitalism or whatever you want to 1563 01:01:15.370 --> 01:01:16.730 call it. And then now we're swinging back 1564 01:01:16.730 --> 01:01:18.810 to communism, socialism because people, are just stuck 1565 01:01:18.810 --> 01:01:21.070 in this pendulum and it's this unilateral emotion 1566 01:01:21.070 --> 01:01:22.790 where okay, well, that didn't work. We're going 1567 01:01:22.790 --> 01:01:24.350 back to this. And it's another generation or 1568 01:01:24.350 --> 01:01:25.350 two later and we don't, we don't know 1569 01:01:25.350 --> 01:01:26.490 any difference. So we're going to swing right 1570 01:01:26.490 --> 01:01:29.850 back to this other world. So again, it's 1571 01:01:29.850 --> 01:01:31.950 to me, like you just said, Joe, I 1572 01:01:31.950 --> 01:01:33.770 believe what you believe, I think they're going 1573 01:01:33.770 --> 01:01:35.370 to to land the plane. I don't know 1574 01:01:35.370 --> 01:01:36.270 the best way to say it, but it's 1575 01:01:36.270 --> 01:01:37.650 going to be a bit of a change 1576 01:01:37.650 --> 01:01:39.130 here, which we've been talking about as well, 1577 01:01:39.130 --> 01:01:41.350 this four year strategy of greasing the skids 1578 01:01:41.350 --> 01:01:44.150 for the midterms or for the primaries. And 1579 01:01:44.150 --> 01:01:46.970 you know that the midterms are, you know, 1580 01:01:46.970 --> 01:01:48.350 the odds are against you. And that stuff. 1581 01:01:48.350 --> 01:01:50.170 happens, but you, you kind of have to 1582 01:01:50.170 --> 01:01:53.270 sacrifice the midterms anyway to rip out these, 1583 01:01:53.270 --> 01:01:54.810 these choke points and the things that have 1584 01:01:54.810 --> 01:01:56.610 bent us over the barrel for decades, really 1585 01:01:56.610 --> 01:01:59.530 for centuries, quite honestly. And everyone says, everyone 1586 01:01:59.530 --> 01:02:01.370 claims, this is what's tough. Everyone claims they 1587 01:02:01.370 --> 01:02:03.310 want different politicians. They want something to be 1588 01:02:03.310 --> 01:02:05.390 done. I want, you know, a different person. 1589 01:02:05.390 --> 01:02:07.570 Congress always has a single digital approval rating. 1590 01:02:07.570 --> 01:02:08.750 And then when someone comes in or people 1591 01:02:08.750 --> 01:02:10.930 come in, a Scott Bessent or Rubio or 1592 01:02:10.930 --> 01:02:13.410 whatever, and they talk a completely different game, 1593 01:02:13.410 --> 01:02:16.190 you know, have the Greek

pantheon. You do 1594 01:02:16.190 --> 01:02:18.270 the optimistic talk and stuff like that. Unfortunately, 1595 01:02:18.270 --> 01:02:19.910 someone, someone, people are dead inside and sedated 1596 01:02:19.910 --> 01:02:21.950 that I don't know, maybe, maybe we are 1597 01:02:21.950 --> 01:02:23.450 too far gone at this point. And so 1598 01:02:23.450 --> 01:02:25.130 people are so nihilistic and they just want 1599 01:02:25.130 --> 01:02:26.870 to light themselves on fire and self -immolate, 1600 01:02:26.870 --> 01:02:27.930 then maybe it is too far gone. Maybe 1601 01:02:27.930 --> 01:02:29.130 we missed our chance. Maybe we missed the 1602 01:02:29.130 --> 01:02:31.190 book. I don't believe that. I think that 1603 01:02:31.190 --> 01:02:32.670 our greatest age is right here in front 1604 01:02:32.670 --> 01:02:33.970 of us. I could be more optimistic about 1605 01:02:33.970 --> 01:02:35.330 the future. But all you have to do 1606 01:02:35.330 --> 01:02:37.290 is, again, we've talked earlier, but you see 1607 01:02:37.290 --> 01:02:39.050 these little things, these little signs right after 1608 01:02:39.050 --> 01:02:40.910 the election ends, all of a sudden, these 1609 01:02:40.910 --> 01:02:43.210 things revert. You know, it's just, it's complete 1610 01:02:43.210 --> 01:02:44.790 nonsense. You try to wake people up. You 1611 01:02:44.790 --> 01:02:46.650 try to warn people about this stuff. And 1612 01:02:46.650 --> 01:02:48.570 the bigger fight is that exposure of that 1613 01:02:48.570 --> 01:02:51.370 system and that third option, the American system, 1614 01:02:51.370 --> 01:02:54.250 which every country can employ outside of that 1615 01:02:54.250 --> 01:02:56.530 fake prison of two ideas. So to me, 1616 01:02:56.530 --> 01:02:57.690 again, we talked about it here a lot. 1617 01:02:57.690 --> 01:02:59.050 We'll continue talking about it because that is 1618 01:02:59.050 --> 01:03:00.390 the fight the next two years. Who can 1619 01:03:00.390 --> 01:03:02.190 sell that story the most? The brand of 1620 01:03:02.190 --> 01:03:05.250 the modern progressive left, whether it's in Canada 1621 01:03:05.250 --> 01:03:07.170 or U .S. is free. And that's a 1622 01:03:07.170 --> 01:03:09.650 very strong brand. It's an incredible brand. Free, 1623 01:03:09.650 --> 01:03:11.150 free, free, free. Someone else pays for it. 1624 01:03:11.150 --> 01:03:12.510 It's free, free, free for you. And they 1625 01:03:12.510 --> 01:03:13.930 never, you know, tell you what the bill 1626 01:03:13.930 --> 01:03:16.370 of goods really costs. And so to me, 1627 01:03:16.370 --> 01:03:18.030 it's who can sell this vision of the 1628 01:03:18.030 --> 01:03:19.390 future better? Is it going to be this 1629 01:03:19.390 --> 01:03:21.410 optimistic, shining city in the hill, get your 1630 01:03:21.410 --> 01:03:23.630 freedom, your sovereignty, your wealth back? Or is 1631 01:03:23.630 --> 01:03:26.970 it just dumerism, despair, CBDCs, and slavery? We're 1632 01:03:26.970 --> 01:03:28.450 just going to go into this AI, you 1633 01:03:28.450 --> 01:03:31.550 know, digital Panopticon prison that we're, that the, 1634 01:03:31.550 --> 01:03:33.010 you know, with the modern left, the Malthusian 1635 01:03:33.010 --> 01:03:35.590 death cult is building over top of us. 1636 01:03:35.590 --> 01:03:37.530 And we really have a choice as, as 1637 01:03:37.530 --> 01:03:39.310 humans going forward. I just don't see it 1638 01:03:39.310 --> 01:03:40.450 any other way over the next couple of 1639 01:03:40.450 --> 01:03:42.390 years. And it's going to be incredible to 1640 01:03:42.390 --> 01:03:43.850 see a play out. but a worthy and 1641 01:03:43.850 --> 01:03:46.790 noble cause to fight for it for sure. 1642 01:03:46.790 --> 01:03:49.710 Yeah, you know, Joe, I want to maybe 1643 01:03:49.710 --> 01:03:50.710 bring up here and you can tell me 1644 01:03:50.710 --> 01:03:52.290 if you have a rebuttal and maybe not 1645 01:03:52.290 --> 01:03:53.930 rebuttal, but a comment. The one thing I 1646 01:03:53.930 --> 01:03:56.490 think is not priced in is this, the 1647 01:03:56.490 --> 01:03:59.170 Fed and the thought of their own credibility 1648 01:03:59.170 --> 01:04:01.330 that they suddenly are like very concerned with. 1649 01:04:01.330 --> 01:04:04.050 So like Waller, I guess today or yesterday 1650 01:04:04.050 --> 01:04:06.390 was saying that, you know, they have 25 1651 01:04:06.390 --> 01:04:08.210 points priced in. If they don't hike more 1652 01:04:08.210 --> 01:04:10.610 than 25 points, they lose credibility in the 1653 01:04:10.610 --> 01:04:15.110 market. market loves, obviously, you know, predictability from 1654 01:04:15.110 --> 01:04:17.450 the Federal Reserve. I'd be curious. Like, do 1655 01:04:17.450 --> 01:04:18.430 you think this is a thing that they 1656 01:04:18.430 --> 01:04:21.210 just say sort of in between meetings to 1657 01:04:21.210 --> 01:04:23.070 keep people at bay, to get people a 1658 01:04:23.070 --> 01:04:24.490 soundbite, or you think they actually take it 1659 01:04:24.490 --> 01:04:26.830 to heart and consider this when they decide 1660 01:04:26.830 --> 01:04:29.450 on rate decisions? I think they take it 1661 01:04:29.450 --> 01:04:30.910 to heart to some degree, but I think 1662 01:04:30.910 --> 01:04:33.030 Fed credibility, and you're right, the Fed doesn't 1663 01:04:33.030 --> 01:04:34.670 like to spoo people between meetings. They like 1664 01:04:34.670 --> 01:04:36.930 to do what the market is expecting. But 1665 01:04:36.930 --> 01:04:39.130 largely, the Fed is a mostly irrelevant institution. 1666 01:04:39.130 --> 01:04:40.950 Like, what she was doing there and what 1667 01:04:40.950 --> 01:04:41.510 she was doing there and what. most Fed 1668 01:04:41.510 --> 01:04:44.830 governors do in between meetings. It's exclusively job 1669 01:04:44.830 --> 01:04:46.210 voting. They're just trying to talk the market 1670 01:04:46.210 --> 01:04:48.350 in one direction or the

other. And so 1671 01:04:48.350 --> 01:04:50.430 in reality, most of the work that the 1672 01:04:50.430 --> 01:04:53.270 Fed does isn't actually in setting interest rates. 1673 01:04:53.270 --> 01:04:55.110 It's in doing this job boning and telling 1674 01:04:55.110 --> 01:04:56.670 the bond market sort of where to move. 1675 01:04:56.670 --> 01:04:59.350 And then when the bond market disagrees, the 1676 01:04:59.350 --> 01:05:01.090 bond vigilantes come in and it reprices a 1677 01:05:01.090 --> 01:05:02.450 different way, and then the Fed decides what 1678 01:05:02.450 --> 01:05:04.190 to do. And so like the real story 1679 01:05:04.190 --> 01:05:05.830 of the Fed that you sort of pointed 1680 01:05:05.830 --> 01:05:08.590 out is not necessarily one where they set 1681 01:05:08.590 --> 01:05:10.170 interest rates and the market listens to them. 1682 01:05:10.170 --> 01:05:13.550 it's more so everything that doesn't happen on 1683 01:05:13.550 --> 01:05:16.590 FMC meeting day and the press conference day, 1684 01:05:16.590 --> 01:05:18.730 which is Fed going out, talking a whole 1685 01:05:18.730 --> 01:05:20.770 bunch, yapping a whole bunch, economic data coming 1686 01:05:20.770 --> 01:05:22.830 in, the bond market making this decision, and 1687 01:05:22.830 --> 01:05:26.030 the Fed obeying. And so, you know, I 1688 01:05:26.030 --> 01:05:28.250 think the Fed would lose credibility if they 1689 01:05:28.250 --> 01:05:30.970 didn't hike once more, but it doesn't really 1690 01:05:30.970 --> 01:05:33.950 matter. And also, now that I think about 1691 01:05:33.950 --> 01:05:35.210 it, I really don't think the Fed would 1692 01:05:35.210 --> 01:05:39.450 lose much credibility because the two -year is 1693 01:05:39.450 --> 01:05:41.650 already giving them. only a little bit more 1694 01:05:41.650 --> 01:05:44.350 overhead to hike. Is that Jeff Gunlock's music? 1695 01:05:44.350 --> 01:05:46.130 The two -year you're talking about? Oh, my 1696 01:05:46.130 --> 01:05:48.870 God. And so it's, you know, it's honest 1697 01:05:48.870 --> 01:05:50.130 to goodness, I think at this point in 1698 01:05:50.130 --> 01:05:52.670 the cycle, we're at the point where maybe 1699 01:05:52.670 --> 01:05:54.050 you get one more, maybe you get two 1700 01:05:54.050 --> 01:05:56.330 more, but you're certainly not at the beginning 1701 01:05:56.330 --> 01:05:58.350 of a massive rate hiking cycle. And so 1702 01:05:58.350 --> 01:05:59.430 if the Fed decided to sit out the 1703 01:05:59.430 --> 01:06:01.310 December meeting, I don't think anybody would be 1704 01:06:01.310 --> 01:06:03.350 screaming. No, me neither. I think if Kevin 1705 01:06:03.350 --> 01:06:05.190 Warsh decided to say, hey, you know, we're 1706 01:06:05.190 --> 01:06:07.010 choosing not to hike because we understand most 1707 01:06:07.010 --> 01:06:09.430 of this inflation we're experiencing now is due 1708 01:06:09.430 --> 01:06:11.270 to energy related causes that are outside of 1709 01:06:11.270 -->

01:06:13.250 our control. I think that would be great 1710 01:06:13.250 --> 01:06:15.530 for Fed credibility because they would demonstrate that 1711 01:06:15.530 --> 01:06:17.850 they're actually data dependent, right? They claim to 1712 01:06:17.850 --> 01:06:19.350 be data dependent, but if you're just looking 1713 01:06:19.350 --> 01:06:21.390 at the head and not actually what's underneath 1714 01:06:21.390 --> 01:06:23.250 it, you're not really data dependent. So if 1715 01:06:23.250 --> 01:06:25.110 anything, in sort of a roundabout way, I 1716 01:06:25.110 --> 01:06:26.430 think it'd be a welcome change if they 1717 01:06:26.430 --> 01:06:28.050 decided not to hike or decided to hike 1718 01:06:28.050 --> 01:06:32.030 once more and then pause. I love it, 1719 01:06:32.030 --> 01:06:37.230 Ben. Yeah, I mean, is this clip worth 1720 01:06:37.230 --> 01:06:38.570 playing, Joe? What do you think? I don't 1721 01:06:38.570 --> 01:06:40.170 know if it's relevant anymore, but it was 1722 01:06:40.170 --> 01:06:42.970 It was something to Brandon's point, Brandon, Brandon, 1723 01:06:42.970 --> 01:06:44.650 you had mentioned, like, the median voter is 1724 01:06:44.650 --> 01:06:46.170 basically really, really dumb. And they're going to 1725 01:06:46.170 --> 01:06:48.350 go, I want free stuff or I want 1726 01:06:48.350 --> 01:06:49.890 this, that, or they're like, and it's this 1727 01:06:49.890 --> 01:06:52.190 lady the day after the election. Oh, let's 1728 01:06:52.190 --> 01:06:53.390 just get it. Let's just pull it up. 1729 01:06:53.390 --> 01:06:55.090 We got to look at. We got to 1730 01:06:55.090 --> 01:06:57.430 remember, like, who gets a vote just the 1731 01:06:57.430 --> 01:06:59.390 same as you. She's in the car. Oh, 1732 01:06:59.390 --> 01:07:01.530 no. Let's, I haven't heard this yet, so 1733 01:07:01.530 --> 01:07:04.610 this should be good. Yo, Abdul, I say, 1734 01:07:04.610 --> 01:07:06.850 yeah, it's really motherfucking doing it. The gas 1735 01:07:06.850 --> 01:07:10.170 is $3 in Michigan right now. It's $3. 1736 01:07:10.170 --> 01:07:12.690 There's some change, y 'all. I seen it. 1737 01:07:12.690 --> 01:07:15.630 I seen it. It's $3. He did it. 1738 01:07:15.630 --> 01:07:18.150 He's doing it. He's doing it. I do 1739 01:07:18.150 --> 01:07:20.530 it. I say, yeah. It's the mon dummy 1740 01:07:20.530 --> 01:07:22.570 in this bitch. I see it, y 'iap. 1741 01:07:22.570 --> 01:07:25.010 I'm keeping it. I ain't even got to 1742 01:07:25.010 --> 01:07:28.970 say nothing.! There's no hope for the leaves. 1743 01:07:28.970 --> 01:07:30.710 I can't. I can't watch this is merging 1744 01:07:30.710 --> 01:07:32.770 onto the highway. Sorry about that. I thought 1745 01:07:32.770 --> 01:07:34.770 there wasn't any vulgarity in there. No, you're 1746 01:07:34.770 --> 01:07:37.470 good. I mean, we're full of vulgarity anyways. 1747 01:07:37.470 --> 01:07:39.650 But again, how do you guys, you know, 1748 01:07:39.650 --> 01:07:42.130 as a

marriage? How do you guys feel 1749 01:07:42.130 --> 01:07:44.990 that this person can't get to go to 1750 01:07:44.990 --> 01:07:47.210 the polling place alongside you? I mean, it's 1751 01:07:47.210 --> 01:07:48.850 not like we're strangers to that up here, 1752 01:07:48.850 --> 01:07:51.450 too. We just had some interesting elections anyways. 1753 01:07:51.450 --> 01:07:53.970 It's brutal. I mean, you know, her and 1754 01:07:53.970 --> 01:07:56.870 like a million other dead people voted against 1755 01:07:56.870 --> 01:08:00.490 what I voted for. Yep. It's unfortunate, but 1756 01:08:00.490 --> 01:08:02.510 it's also, it speaks to sort of the 1757 01:08:02.510 --> 01:08:06.050 TikTok American epidemic that we're experiencing, right? Like, 1758 01:08:06.050 --> 01:08:07.590 you guys probably saw the story. I'm not 1759 01:08:07.590 --> 01:08:09.410 sure if you discussed it. Of the, it's 1760 01:08:09.410 --> 01:08:11.550 so over. Yeah. of the data center lady 1761 01:08:11.550 --> 01:08:15.090 down in Delaware who it was an abandoned 1762 01:08:15.090 --> 01:08:17.730 mall parking lot and 25 years Joe is 1763 01:08:17.730 --> 01:08:21.130 going to be 25 years abandoned and it 1764 01:08:21.130 --> 01:08:22.170 was going to be replaced with the data 1765 01:08:22.170 --> 01:08:24.430 center that would create thousands of jobs and 1766 01:08:24.430 --> 01:08:27.030 bring millions of dollars and new GDP growth 1767 01:08:27.030 --> 01:08:29.950 to that county. And this activist who is 1768 01:08:29.950 --> 01:08:33.250 influenced by a Chinese Communist Party activism group 1769 01:08:33.250 --> 01:08:35.610 without her knowledge, she had no idea this 1770 01:08:35.610 --> 01:08:36.970 was going on. She thought this was all 1771 01:08:36.970 --> 01:08:40.670 organic stuff, launched a campaign, made TikToks about 1772 01:08:40.670 --> 01:08:44.030 it to not build it. And her argument 1773 01:08:44.030 --> 01:08:45.670 against not building it was that we should 1774 01:08:45.670 --> 01:08:48.030 put something that would serve the community there, 1775 01:08:48.030 --> 01:08:50.450 like a trampoline park. This is literally what 1776 01:08:50.450 --> 01:08:53.010 she said. And so it speaks to this 1777 01:08:53.010 --> 01:08:56.230 reality of like, ultimately, this is why democracies 1778 01:08:56.230 --> 01:08:59.790 don't particularly work, because that person, particularly having 1779 01:08:59.790 --> 01:09:02.150 access to the same computer I have to 1780 01:09:02.150 --> 01:09:03.730 talk to an audience, just like we all 1781 01:09:03.730 --> 01:09:07.310 do. It ultimately becomes detrimental when it all 1782 01:09:07.310 --> 01:09:09.710 boils down to why is that there, instead 1783 01:09:09.710 --> 01:09:12.190 of, you know, a new food court. Why 1784 01:09:12.190 --> 01:09:14.190 is she of the athleticism that could go 1785 01:09:14.190 --> 01:09:16.290 on said trampoline park? No. She would be 1786 01:09:16.290 --> 01:09:18.930 using, said trampoline park. And the funny thing 1787 01:09:18.930 --> 01:09:20.770 is, people were making jokes about it. There's 1788 01:09:20.770 --> 01:09:22.550 a trampoline park down the street, eight minutes 1789 01:09:22.550 --> 01:09:24.550 away, you know? So people were making jokes 1790 01:09:24.550 --> 01:09:25.690 about like, guys, you don't know what it's 1791 01:09:25.690 --> 01:09:27.730 like to live in a trampoline park desert. 1792 01:09:27.730 --> 01:09:31.290 But the point is this. It would generate 1793 01:09:31.290 --> 01:09:34.770 the only. That's true. The point is this, 1794 01:09:34.770 --> 01:09:36.730 you know, it's like, this is, at the 1795 01:09:36.730 --> 01:09:37.810 end of the day, it's why democracy is 1796 01:09:37.810 --> 01:09:39.970 that work. And why your. best bet as 1797 01:09:39.970 --> 01:09:42.310 an individual is to become very well versed, 1798 01:09:42.310 --> 01:09:44.010 very well read, raise a family in your 1799 01:09:44.010 --> 01:09:46.590 image, and get a lot of guns because 1800 01:09:46.590 --> 01:09:48.430 ultimately this thing can get really bad. Not 1801 01:09:48.430 --> 01:09:50.270 saying that woman in particular, a highly doubt 1802 01:09:50.270 --> 01:09:52.470 she'd pose much of a threat to anybody, 1803 01:09:52.470 --> 01:09:54.070 but it speaks to this sort of mass 1804 01:09:54.070 --> 01:09:55.790 psychosis in the digital age where it's like 1805 01:09:55.790 --> 01:09:57.410 voting can only get you so far. And 1806 01:09:57.410 --> 01:09:58.330 at the end of the day, these people 1807 01:09:58.330 --> 01:09:59.810 have the same vote as you. So you 1808 01:09:59.810 --> 01:10:01.330 got to stay frosty to some degree. Don't, 1809 01:10:01.330 --> 01:10:04.670 don't worry, because former Congressman Adam Kinsinger, you 1810 01:10:04.670 --> 01:10:06.230 know, they're coming after the electoral college. You 1811 01:10:06.230 --> 01:10:08.090 know, this is, so don't worry. We're going 1812 01:10:08.090 --> 01:10:09.350 to have more mob rule. You thought you'd 1813 01:10:09.350 --> 01:10:10.490 liked to mod rule before. You're going to 1814 01:10:10.490 --> 01:10:11.710 love, you're going to love to see what's 1815 01:10:11.710 --> 01:10:13.910 coming next. And this is, this is the 1816 01:10:13.910 --> 01:10:16.430 one misgiving Trump had,! Which, you know, hey, 1817 01:10:16.430 --> 01:10:17.510 I said, okay, you're going to do it 1818 01:10:17.510 --> 01:10:19.450 the more kosher way. If Brandon was president, 1819 01:10:19.450 --> 01:10:20.670 I would have come in and deleted 95 1820 01:10:20.670 --> 01:10:22.670 % of the government day one. Executive order 1821 01:10:22.670 --> 01:10:24.630 gone. See ya. Five million people. How many 1822 01:10:24.630 --> 01:10:26.510 trampoline parks would you have built? How many? 1823 01:10:26.510 --> 01:10:28.450 You could, you could save so much money, 1824 01:10:28.450 --> 01:10:29.990 Joe, we could have had so many trampoline 1825 01:10:29.990 -->

01:10:32.690 parks everywhere. And it would have been unbelievable. 1826 01:10:32.690 --> 01:10:34.150 This is, this is, and we can maybe 1827 01:10:34.150 --> 01:10:36.730 get in this Monday. But hey, Mark Carney, 1828 01:10:36.730 --> 01:10:38.490 though, he's got four billion dollars going to 1829 01:10:38.490 --> 01:10:39.790 the arts. That's going to you guys to 1830 01:10:39.790 --> 01:10:42.170 calm me around in Canada. So hey, listen, 1831 01:10:42.170 --> 01:10:44.350 don't do not insult, do not insult Prime 1832 01:10:44.350 --> 01:10:46.250 Minister Carney. I am an artist now. And 1833 01:10:46.250 --> 01:10:47.250 so I will be. Yeah, guys, we are 1834 01:10:47.250 --> 01:10:50.930 all if you don't do dare say otherwise. 1835 01:10:50.930 --> 01:10:52.950 We've got grants coming our way. I'm certain 1836 01:10:52.950 --> 01:10:54.970 of it. Did you see your show now, 1837 01:10:54.970 --> 01:10:56.930 Ben, it's an art show. I am clearly 1838 01:10:56.930 --> 01:11:00.310 an artist. That's exactly. Clearly an artist. Guys, 1839 01:11:00.310 --> 01:11:01.230 a couple things I want to get in 1840 01:11:01.230 --> 01:11:03.470 there as we move to wrap here. One, 1841 01:11:03.470 --> 01:11:04.550 I'm now never going to forget this. I 1842 01:11:04.550 --> 01:11:06.550 like the term TikTok Americans. I think that's 1843 01:11:06.550 --> 01:11:07.950 going to be the next derogatory term. That's 1844 01:11:07.950 --> 01:11:09.950 add to my lexicon there. But I wanted 1845 01:11:09.950 --> 01:11:11.610 to give a quick couple things here with 1846 01:11:11.610 --> 01:11:13.210 regards to the FFA, just to round things 1847 01:11:13.210 --> 01:11:15.090 out as well. Let me go ahead and 1848 01:11:15.090 --> 01:11:16.010 pull this up. So I had this from 1849 01:11:16.010 --> 01:11:19.490 Watch Guru here. FBI investigating whether software update 1850 01:11:19.490 --> 01:11:22.310 caused the mass FAA out, FAA outage leading 1851 01:11:22.310 --> 01:11:24.470 to nationwide ground stop. I had this clip 1852 01:11:24.470 --> 01:11:25.150 here I want to play because as you 1853 01:11:25.150 --> 01:11:26.430 found it quite interesting, a little brief one 1854 01:11:26.430 --> 01:11:29.710 of their actual communications here. Oh, hang on. 1855 01:11:29.710 --> 01:11:31.410 Yeah. The center is close to being a, 1856 01:11:31.410 --> 01:11:34.270 approach is ATC0, and Chicago Center is close 1857 01:11:34.270 --> 01:11:36.310 to being ATC0 as well for equipment. We 1858 01:11:36.310 --> 01:11:38.970 lost all the frequencies and all the automation 1859 01:11:38.970 --> 01:11:40.970 for the. the handoff and strips and stuff, 1860 01:11:40.970 --> 01:11:43.390 but advise weather not them at Kenosha and 1861 01:11:43.390 --> 01:11:45.610 what approach you want to do. So radio 1862 01:11:45.610 --> 01:11:47.130 and everything completely taken up. We lost all 1863 01:11:47.130 --> 01:11:49.890 frequencies and automations for the handoff and strips. 1864 01:11:49.890 --> 01:11:52.010 Like, there's going to be someone who really 1865 01:11:52.010 --> 01:11:54.070 puts a, you know, spear in that and 1866 01:11:54.070 --> 01:11:55.570 is like, well, you have people who don't 1867 01:11:55.570 --> 01:11:57.570 really know how the job works, right? They're 1868 01:11:57.570 --> 01:11:59.850 using tools that have enabled them to learn 1869 01:11:59.850 --> 01:12:02.290 it a different way. I don't know. These 1870 01:12:02.290 --> 01:12:04.410 planes have been flying themselves for quite a 1871 01:12:04.410 --> 01:12:06.650 long time now, right? You still hopefully got, 1872 01:12:06.650 --> 01:12:08.430 you still hopefully got a gray -haired 50 1873 01:12:08.430 --> 01:12:09.870 -year -old man who's been seen a lot 1874 01:12:09.870 --> 01:12:11.410 of stuff in his day behind the wheel, 1875 01:12:11.410 --> 01:12:12.930 but largely he's just chilling out as they're 1876 01:12:12.930 --> 01:12:15.110 going through. A lot of combat, we go. 1877 01:12:15.110 --> 01:12:17.130 And then, of course, asking the important questions 1878 01:12:17.130 --> 01:12:19.830 here, we have, who was Jensen sleeping with 1879 01:12:19.830 --> 01:12:23.530 at the FAA? I think that's got it. 1880 01:12:23.530 --> 01:12:27.030 I'm waiting for the fourth affair to drop. 1881 01:12:27.030 --> 01:12:30.210 Amazing. Yeah. Jens, this is an absolute blast. 1882 01:12:30.210 --> 01:12:32.910 I do want to just do some shameless 1883 01:12:32.910 --> 01:12:36.490 shilling. I dropped a UBKee tutorial today. If 1884 01:12:36.490 --> 01:12:41.550 you haven't started diving into. actual physical two 1885 01:12:41.550 --> 01:12:44.670 -factor authentication. Worth taking a look. I was 1886 01:12:44.670 --> 01:12:46.670 pleasantly surprised. I'm going to be covering some 1887 01:12:46.670 --> 01:12:49.370 other open source alternatives as well, but UBQ 1888 01:12:49.370 --> 01:12:52.710 is super easy to use. So pretty happy 1889 01:12:52.710 --> 01:12:54.230 with it and a lot of people, I'm 1890 01:12:54.230 --> 01:12:55.830 happy to see the video go up. So 1891 01:12:55.830 --> 01:12:57.790 go check it. Ben, did you buy more 1892 01:12:57.790 --> 01:12:59.470 than one model of UBKee or just the 1893 01:12:59.470 --> 01:13:02.810 one? I just grabbed the one model. It's 1894 01:13:02.810 --> 01:13:05.290 the NFC and the USBC one and it 1895 01:13:05.290 --> 01:13:06.630 just has like the tap button. It's not 1896 01:13:06.630 --> 01:13:09.890 like fingerprint, but yeah, it works. works pretty 1897 01:13:09.890 --> 01:13:12.610 well. I got I ended up getting three, 1898 01:13:12.610 --> 01:13:14.190 uh, because I just, but now that I'm 1899 01:13:14.190 --> 01:13:15.890 thinking about it, like every time you create 1900 01:13:15.890 --> 01:13:16.910 a new key, you got to do it 1901 01:13:16.910 --> 01:13:18.630 for every single one. So I'm, yeah, kind 1902 01:13:18.630 --> 01:13:20.650 of waffling over how I want to handle 1903 01:13:20.650

--> 01:13:23.230 it. But, uh, feeling good about my, my 1904 01:13:23.230 --> 01:13:28.130 password manager being hardware secure. So that's, that's 1905 01:13:28.130 --> 01:13:29.730 good. Uh, the other thing I was going 1906 01:13:29.730 --> 01:13:31.130 to show, of course, was, uh, our good 1907 01:13:31.130 --> 01:13:34.150 friend Joe's channel. So go subscribe to Joe 1908 01:13:34.150 --> 01:13:38.090 and, uh, keep up with everything markets and, 1909 01:13:38.090 --> 01:13:39.330 uh, you know. Joe's putting out of, of 1910 01:13:39.330 --> 01:13:40.070 course, was, uh, you know, video a day 1911 01:13:40.070 --> 01:13:42.530 almost he has a newborn child he's got 1912 01:13:42.530 --> 01:13:44.510 to accept selfies from his wife he's replying 1913 01:13:44.510 --> 01:13:47.330 during this this podcast he's on top of 1914 01:13:47.330 --> 01:13:49.470 everything this guy you got to be subscribed 1915 01:13:49.470 --> 01:13:51.210 i'm talking to one of my clankers as 1916 01:13:51.210 --> 01:13:52.670 well as we were talking it was like 1917 01:13:52.670 --> 01:13:54.430 hey a new email just these things are 1918 01:13:54.430 --> 01:13:56.030 great guys we haven't tried to rock bot 1919 01:13:56.030 --> 01:13:57.650 yet would highly recommend but it is worth 1920 01:13:57.650 --> 01:14:01.150 noting all videos are human written that is 1921 01:14:01.150 --> 01:14:03.150 a very important note i said editing maybe 1922 01:14:03.150 --> 01:14:05.530 from a clanker which is tremendous but all 1923 01:14:05.530 --> 01:14:07.290 videos are human written which is the most 1924 01:14:07.290 --> 01:14:12.030 important part Scripting, good scripting. It takes you 1925 01:14:12.030 --> 01:14:13.130 so much time, you don't have to do 1926 01:14:13.130 --> 01:14:14.350 all the others. The bot told you say 1927 01:14:14.350 --> 01:14:16.510 that. Yeah, he's not even really there. It's 1928 01:14:16.510 --> 01:14:19.390 just all of it. That's all right. You 1929 01:14:19.390 --> 01:14:21.350 ask me, I legally have to tell you 1930 01:14:21.350 --> 01:14:25.050 I'm a robot. Yeah, exactly. Awesome. Well, everybody, 1931 01:14:25.050 --> 01:14:26.250 thank you guys so much. Everybody in the 1932 01:14:26.250 --> 01:14:29.770 chat. Always great to see it. Amazing, all 1933 01:14:29.770 --> 01:14:34.230 the Huang. All of the puns were just 1934 01:14:34.230 --> 01:14:37.930 fantastic to read the entire show. Anyways, we 1935 01:14:37.930 --> 01:14:39.750 will be back at it next week. Of 1936 01:14:39.750 --> 01:14:42.090 course, drop a like, give a share. Thanks 1937 01:14:42.090 --> 01:14:43.830 for throwing all the chairs. I'm Ben. This 1938 01:14:43.830 --> 01:14:46.230 was Nathan, Joey, Brandon, and a special guest 1939 01:14:46.230 --> 01:14:48.830 as usual, Joe. This was Bitcast. See you 1940 01:14:48.830 --> 01:14:52.830 next time. Stop for one second before you 1941 01:14:52.830 --> 01:14:55.890 go. On February 4th through 7th, I will 1942 01:14:55.890 --> 01:14:58.270 be headed down to Miami Beach for the 1943 01:14:58.270 --> 01:15:00.910 Sovereign Summit. You know that big banks are 1944 01:15:00.910 --> 01:15:02.950 trying to control your money, and you know 1945 01:15:02.950 --> 01:15:05.110 that Big Tech is now trying to control 1946 01:15:05.110 --> 01:15:08.150 your AI. And Fighting Back can feel lonely, 1947 01:15:08.150 --> 01:15:09.910 but it won't for this week. weekend, I'm 1948 01:15:09.910 --> 01:15:11.270 going to be down there giving a keynote 1949 01:15:11.270 --> 01:15:13.590 and giving some workshops so you can build 1950 01:15:13.590 --> 01:15:16.390 your sovereign stack. This is not a trade 1951 01:15:16.390 --> 01:15:18.910 show. It is capped at a thousand people, 1952 01:15:18.910 --> 01:15:21.370 and it's all signal, no noise. The price 1953 01:15:21.370 --> 01:15:23.570 rises, the closer we get to the event, 1954 01:15:23.570 --> 01:15:25.270 so grab your tickets today. You can use 1955 01:15:25.270 --> 01:15:27.810 code sessions for 10 % off. Again, that's 1956 01:15:27.810 --> 01:15:30.450 code sessions or 10 % off, and you 1957 01:15:30.450 --> 01:15:32.390 can grab them via the link in the 1958 01:15:32.390 --> 01:15:34.750 description or scanning the QR code on the 1959 01:15:34.750 --> 01:15:36.750 screen.