What in the World is Happening with Teeka Tiwari

What in the world is happening with the financial markets? How about the crypto markets? Are we on the cusp of a recession and dystopian hellscape? Or are there reasonable steps you can take to ensure your own financial and emotional security? We're pleased to welcome Tika Tiwari of the Palm Beach letter back to the show to discuss all of these things and more. So if you're ready for a healthy dose of optimism and financial literacy, you've come to the right place. As we welcome ticket Tory back

And I am Lord Travis Rhodes.

No longer sir. You felt that was redundant.

Well, it's funny when you get somebody going, Wait a second, if you're a sir and then you become a Lord, Lord be circumcised.

The whole damn thing is tongue in cheek to begin with. I don't know.

We're going to be barons, okay? Going to be this land and work our way up to Duke.

I again, I got a coupon. You can get a discount on the discount if.

This are for show the year.

This is our first show.

The year? Yeah. We taking a break.

I was on vacation. You were on vacation. And we're back. And we're back, bitches.

Yeah. Yeah. I had a time we could talk about it in future episodes. We want to get into this one because this is a really good episode and we also get to do a little conspiracy chops in here. And then. And then Tiki is like cutting us off of the need for the Mickey go.

We're not going to teak, we're not going to Tiki Room, and we jump right into the interview. So let me set the stage here. Ticket to worry is the executive chairman strategy board at Defi Technologies. They're a company aiming to become the world leader in offering services built upon Defi. He is also the editor of the Palm Beach Letter small captain cryptocurrency advisory firm Palm Beach Confidential. The dude is a former hedge fund manager, a Wall Street executive.

Smart.

Super smart, widely considered one of the world's premier crypto analysts. We talk a lot about a lot of stuff in this interview, so let's get to it. Hugo. What's going on, brother?

Hey, it's good to be here. We're starting.

We're officially started. We're hanging out at my place here in Palma del Mar, Puerto Rico.

That didn't seem like an official start. I kind of was just like, Hey.

You know, that's how Rogan does it. Yeah. ROGAN Just kind of What's going on?

Joel Rogan Yeah, apparently.

Well, it's this in-person feel is just so much more intimate. All the interviews we do there, you know, on the screen, I'm so sick of Zoom and seeing just people's faces on the screen in front of me like tech is here in the flesh. That's right. Because he is also boricua. He is Puerto Rican. Yeah.

Yes.

You How long you been here on the island?

Five years. I came here in 2018.

You're. You are O.G. Then.

When the real OGs came in 2012 and 2014, those are the real. Oh, geez.

I'm just a G.

Yeah, I'm not even a G. I'm still like an.

F workin on the alphabet still. You know, we're coming up.

To see that Mickey Mouse right there, though. That's pretty badass. What is that from?

So Travis's admiring a Walt Disney Mickey Mouse poster. This was hanging in my childhood home the whole time I was growing up. Really? Yeah. So frame in a frame, but a different frame. I had this framed in San Juan. So this is.

This is real.

This is old school. Kind of like me.

Very cool.

I'm old school. We have a guest here, though. Like, nobody.

Cares what I haven't seen before. And I was like, Well, man, is.

There anything else? You haven't seen my.

Boys and Tiki? Yeah.

All right, let's get into into the markets, because crypto has been kind of going sideways here for a little bit. And we got to, you know, timestamp this. It is January 11th, is that right?

It's 111.

Yeah, 1111112, three.

Make a wish today and bitcoin's actually up the crypto markets up a little bit as of this moment. Bitcoin's like 17 five. Etherium is, I think 1350, something like that. The stock market, you know, has had a little bit of a run and I saw you a couple of weeks ago here at a party and I said, What do you think is going to happen? And you told me, and I want you to tell everybody right now what is happening now and what do you think is going to happen in the near term.

So to give some context as to what's happening now, we've got to pull the camera back a little bit.

Believe it. Well, you said it was unbelievable.

It is unbelievable. You can go go online and do searches. You can get bonds in any number of A-rated blue chip companies that are yielding around five and a half percent. Some but some are earlier than 6%.

Being so high, it's almost like, wow, 5%, but inflation's at X percent.

Okay, so let me finish what I have to say. This is this is all to give you a preliminary framework for why pricing is the way it is and what will impact pricing moving forward. The thing to remember about inflation is it doesn't stay around for ten, 15 or 20 years. It stays around for a few years. And if the Federal Reserve can stay focused on it, they can typically bring it under control within 2 to

So if we're looking at long term, then, you know, we haven't bottomed out according to what you're thinking, then, you know, it seems to me there's a lot of people talking about the global economy is teetering like we've we've been kind of sitting on the edge, like the Bank of England was was teetering. There was like a global margin calls and stuff going on. Like there's some crazy stuff going on internationally in the economy. So I

Well, let's look at the different the different scenarios that are out there. If we're just looking at a scenario of Jerome Powell raising rates longer than the Street expects, you know, Bitcoin will come in, but not a lot, you know, 15 k something, something like that. If we're talking about a continuation of the fraud and the fallout from Sam Bankman-fried, where let's say DCG has to file bankruptcy, they have to liquidate the Gbtc trust and start smacking

Well, this story just popped up on Reuters today. World Bank warns global economy could tip into recession in 2023. So the bankers, the bankers are, you know, sounding an alarm. At the very least here. They're slashing their forecasts on growth and and saying they expect global GDP of 1.7% in 2023, which is as slow as it's been outside of the 2009 2020 recession since 1993.

Yeah, but but if you look at Wall Street estimates, they've barely moved. They're saying that that earnings will come down maybe three or 4%.

They don't care.

Well, think about what they're in the business out there. They're called sell side analysts for a reason. Right. Their job is to sell stocks and to sell deals that they have positions in or that are investment banking clients. You know if a sell side analysts lips are moving, you know he's lying.

So their job is to sell retail to mom and pop, take their money and give it to the big financial institutions, right? Correct. That's what they do every day, all day. It's it's a chump bet. Yeah.

But that's not to say there aren't pockets of value in the stock market. There are. What I'm saying is, is that just be patient. Now is not the time to FOMO. There's a time where it makes sense to FOMO early to mid-stage of a bull market. Yes, FOMO. You'll make a ton of money. FOMO and being too conservative will actually hurt you in a market like that. But we're only in year one of a crypto bear market that normally goes for two, two and a half years.

But you're not selling. You're. You're Bitcoin. You're not.

I've never sold my Bitcoin from the first Bitcoin I bought back in 2016 for 400 and change. I don't I don't sell my Bitcoin. I don't trade my bitcoin, trading your bitcoin. And I got to make a lot of enemies during this is one of the stupidest decisions you could ever make. Stupid, stupid.

I have sold the bottoms so many times. You may as well just look at me and say stupid, stupid, stupid. Because I know I it's. I don't know why I've capitulated. I understand capitulating once, but making the same mistake twice. That's. Yeah, I didn't learn from it.

Here's the key with bitcoin. Buy it. Don't use leverage. Use your own wallet. Put it away. And just don't think about it. Go live your life. Okay. The Bitcoin is there to do the heavy lifting for you over time. If you want to sit there and gamble your way and try to become a multimillionaire gambling, fine. Do that.

Yeah. I'm good at doing nothing.

That that is an interesting thing. So now there's a lot of people who are like, okay, so I've gotten out of some shit coins and you're putting them in some stablecoins and people are thinking, okay, the stablecoin, it's in my wallet, it should be secure. But sometimes these stablecoins are not secure. So it's like, what? What would you suggest to somebody who's like, they pulled money out of the market and it's sitting in usdc or USD

Buy 90 day government bonds that are guaranteed and yielding 4 to 4 and a half percent and just wait. That's it. Just wait.

Do you need to pull it out of the market, out of crypto, into cash and then trade that and Ameritrade or something?

You got Ameritrade, Fidelity and you can you can go directly to Treasury Direct and buy your bonds directly from the government, buy some bonds, go enjoy your life and be patient and wait. We've all been through bull markets before. We know they don't just go straight up, right. They always give you multiple opportunities to get back on bull.

And then they end in tears and weeping and gnashing of teeth.

But what happens when the dollar collapses?

The dollar is not going to collapse. That is another. Okay, here we go. Here was just some just total garbage. Should have been people have been talking about for the last 30 years. Do you know what there is in the world? Hundreds of trillions of dollars? Were you going to put that you're going to put that in the Chinese currency where they're going to confiscate all your money, You're going to put that in. The Swiss franc will blow up the Swiss franc. It's not big enough. You're

That's not me because I'm the fattest guy here.

I don't know. You look lighter than I saw you last time.

That. So let me ask this then. So the U.S. dollar is not going to crash, but what they converted to the digital currency. Right. Which is scared a lot of people. We're talking to people and they're going, oh, man. And when you see some of the how cbdcs can be programmed as like, oh, well, we're going to give you your universal basic income and oh, you don't have your latest update so you don't get your cbdc Or maybe there's a it's restricted with the time frame they

Well, they should, but that's 1012 years.

Really.

From that. That's not going to happen right away. Think about all the constitutional issues, right, of having state issued money and then think about what happens if the Federal Reserve is issuing money. It will automatically defund the entire U.S. banking system because nobody will want to have money within the individual banks. Is there's a lot of of potential problems of rolling that out. And the Federal Reserve, they don't want to break anything. Right. They would rather move slowly.

Optimistic and very reasonable in your approach. It's easy to, you know, there's a lot of people with the sky is falling, the sky is falling, and there's there's people, a lot of people now they're saying, especially quarter two is when we're going to really see the big crash in the market that is is bound to come. But I remember during the crypto bull market where people are saying it's going from 65 to 100000, it's going to go and everybody was pushing and what happened? It contrarian

Well, the first things first is everybody here listening has a stake. So if if we if we're wrong, you're going to make money regardless. Right. Okay. The other thing is this is a case for why you should dollar cost average at least part of your capital, let's say, okay, I've got X amount of capital to allocate this year, take 30% of it and dollar cost average. Do it daily. Do it weekly. Do it month. So at least you

I'm actually looking for this thing on my phone where if you see the map of 2008 2009 crash and then how we're mapping out right now from the months leading up to the crash, it's almost like identical. And so it seemed like in 2008, 29, they just kind of kicked the can down the road a little bit. They did quantitative easing, printed a bunch of money and said, we're going to handle this crash down the road.

And bailed out Wall.

Street. And here we are 15 years later, the kick can kick in down the road. I mean, how crazy could the crash be from your guys's, you know, a Palm Beach research group? And you guys are looking at this. How does this look? Are we looking at the market? We're sitting at a market. We're going 40%, down 30%. How big of a crash are we going to look at? Or maybe it's a minimal crash. I mean, I don't know. But there are some there's some sky is falling people. And I think I fit in that sometimes.

Again, I'm going to bring it back to interest rates. It all depends on interest rates. If interest rates stay where they are, the U.S. equity market, as measured by the S&;P 500, is probably 15 to 20% overvalued. If interest rates start coming down, then the the the current valuation is fair value on the S&;P 500. If interest rates go up, let's say they go up to five, six, 7%, then you're going to see equity prices drop. If we go to 7%, then equity prices are probably going to

Bailouts.

You know, like the Federal Reserve. Mm hmm. So what happened back in 0809, you had somebody who would take this one asset and they would borrow against it repeatedly, you know, six, seven, eight, you know, sometimes 38 times they would borrow against the same asset. So they can't do that anymore. That's not to say that you don't have some reckless borrowing going on in the financial system. You clearly do. You you mentioned it in passing when you talked about what was going on with the Bank

So is that a down the road?

Oh, no. Oh, it's 100% are kicking the can down the road. Now, this is what I believe is happening since that took place. Obviously, I don't know this for a fact, but what I think is happening is that you've you are probably seeing central bankers around the world speak to all of their member banks and saying, you've got to get in contact with all of your pension fund counterparties and get them off leverage because because otherwise they can't raise interest rates and they need to raise

You are a licensed financial advisor?

No, I am not a licensed financial. So none of this is financial. Okay.

Just. Just Jack and.

I am just giving my perspective.

So what does this tell you? The price of gold is approaching 1900 dollars again. So it's. I don't know. It's supposed to be a core corollary with the dollar, Right?

Been trading sideways for ten years. The dollar goes down, gold goes up. Uh, I don't know so much.

Fake gold and fake silver paper.

I don't even look at gold anymore.

Don't know about this. I mean, sideways. Ten years ago, it was. Where are we at? Here. I'm looking at the actual price. It was around 1100 dollars, you know, So it got as high as 2000. I mean, but.

That's.

That's a.

Pretty.

That's a pretty steep. But, you know, increase there.

So that always makes me sad because I look at that and I know in 2009 and 2010 and 11, I was buying gold and silver instead of buying Bitcoin. And then if I had done that, I would, you know, I'd probably be closed in at a certain point at near $1,000,000,000. But instead I have like half of the value that I spent on the gold and silver because the prices were. Abby And then what? I was like, Oh, so I knew something was coming and my just strategy was not the best.

But the thing to remember is the core buyer of gold. They're dying. There are people those core buyers are in their seventies and eighties now, and the people that are coming up that would would normally buy gold, well, they're buying Bitcoin, right? So if you look at the demographics over the next 20 years, you've got Gen Z, Gen X, and then Gen Y, they're going to be inheriting about $68 trillion in value.

In gold as.

Well. No, no, just, just just in value valuation. Yeah. What I'm saying is that that value is not going to trickle into gold. That value is going to trickle it. Certainly much of that is going to trickle into Bitcoin, Etherium and the crypto ecosystem, but it's not going into gold. I think gold is outside of maybe some brief moments where gold has spikes which are impossible to predict. Think about this. We've seen the worst inflation in 40 years.

So what they said they'd never seen buy silver and, you know, stock up now silver is going to go to the moon. Silver is going to catch up with, you know, there's too.

Much manipulation in the space. If if that wasn't the case, then maybe that would be so. It at least it seems like that to me. But it's like also, I've always looked at this and I go, man, you know, how is gold not ever really tied to Bitcoin at all in a way that's easily accessible for people? It's like really, right now, one Bitcoin is worth eight and a half ounces of gold at the high at $69, like 30 something ounces of gold for one day connected

But the thing is that the dollar is not a store of value. If you're using the dollar, that's a value. You know, you need to do some remedial training.

You don't want to keep your money in a bank account. You don't want to keep it in a stablecoin You don't want to keep it in gold or silver. You don't want to keep it.

Again, again, this is I'm not telling anybody what to do. This is what I'm doing. I own short term government bonds. Sure, four and a half percent, which is what you're getting on government bonds is probably half the current inflation rate.

Right.

But last year, would you prefer to have lost four and a half percent or the amount of money that you.

Lost across.

The board?

Yeah, jeez. In some cases some of my cryptos are down 90 something percent. I mean, you're looking at that and it's just like, Oh, it hurts. Please make it stop. Gold. Please make it stop.

So U.S. government, everybody can buy U.S. government bonds on any brokerage, right?

Basically, yeah. And if I ever get in trouble for telling people to buy U.S. government bonds, you know, I mean, I don't know what I could do. There's nothing the safest instrument in the world. Again, go no more than 90 days or 60 or 90, 90 days to six months out, because you don't want that that the longer you go out on bonds, the higher your risk is to changes in interest rate. They call that duration.

I got a question around that. So say I go, I've never bought a bond before ever. Right. So let's say I go out and I buy a 30 day bond. That 30 day is up. Does it automatically sell at that particular price? You do. You got to go in and.

No, you don't have to sell anything. What happens is you're lending the government money for 30 days. Yeah. And after 30 days they give you your money back and your a little bit of interest.

Okay. Well, nice. Very nice. Okay.

Automatic, easy peasy. So your your newsletter, very popular. Tell people a little bit about, you know, what you do at Palm Beach and Yeah.

So Palm Beach Confidential we started that newsletter to cover the. So space. And in 2016 there really wasn't very good, unbiased research in crypto. And I say I'm biased because at least at our newsletter, we're not allowed to buy the things that we recommend. I can buy Bitcoin, I can buy Etherium. That's it. Anything outside of that that I've recommended, I can't buy. So we also don't take any outside sponsorship or advertising or anything of that nature.

It seems to me like, Oh my God, you find something just for example, Polygon, and you're like, Oh man. But I'm not saying you think Polygon's grades are bad, but you're like, Oh man, it's doing stuff with Disney. It's got the great metrics they're building. They're doing all this stuff, and you're like, Oh, I can't buy animatic, because.

That's right.

Really? And you're like, Damn, I should get some matic. So like, and so that's why it's a good idea for you to be part of the newsletter because you get to hear about these projects. You're doing deep dives in and you guys aren't winning at all on these antithetical getting paid.

So getting paid for the newsletter because he's got right.

That's our revenue stream is the newsletter. So we have built our business around providing excellent research and that's that's our model. We make money off of subscription fees. That's it. So if we don't do a good job, we don't deliver, you know, Describer, I want.

A refund. Give me a refund. I lost 99% on mad them and give a refund. I didn't lose that much on Matic. Only about 85% of.

Your price did your own backup.

To too many dollars.

Yeah. Yeah. I think Matt got it to to 50 to 60, you know.

Yeah. Somebody that's 85 $0.90.

It's okay down 60.

It's only about 60%.

That's actually one of the biggest winners right now I think in, in crypto. So you you worked on Wall Street. Tell us some of the what are the dirty little secrets there in the boys club. Okay.

So one of the one of the biggest dirty little secrets on Wall Street is Wall Street does not want you to be rich. Now, they also don't want you to be broke. They want to keep you even and they want to milk you for fees. It's the reason why they say, let's just hook us hook you. They want to hook you up into their fee machine. They want to be able to take money from your account every month and put it into their high cost funds. And they just basically slowly bleed you dry for 30 years.

Just just enough. Right. Talk about, you know, you want to buy some stocks are going to go up. They're going to go down. And you got Jim Cramer, you know, shilling on TV, probably get paid well to do what he's doing. And and and and what I'm told from my friends and advisors is that buying stocks is a chump bet that that's not what they're doing on Wall Street, that they're playing with the in-between money. Right. With their options and their futures. That's what the big boys do.

There's a lot of different ways that that larger companies monetize. But just just remember, Wall Street's biggest profit center is you, the customer, always remember that.

So if it's like big Pharma, it's like every time that you heal someone, you lose a customer. So they don't they don't like that, right?

So if you're looking to get involved in the stock market, you're much better off just buying a a an S&;P 500 Vanguard fund, where I think it's about maybe ten basis points is what they charge you. You're going to beat 85% of all fund managers. And over a long period of time, you're going to beat more than 90% of the fund managers in the world. So so again, I you know, I know this is about crypto, but let's talk about investments and the attitude around investments.

It's about money. I mean, we're it's about the future. It's about making good decisions. Yeah, it's bad crypto, but the bad, you know, we're bad so we can talk about wherever we want.

Well, if you really care about making money and growing your net worth, the single biggest lever you have is your is your career. So you should look at your career. If your career does not give you the ability to make a lot of money, you need to change careers.

Travis, he's talking to us. Oh, man.

We we need to do the good Crypto podcast. It will be the last episode of City. Once it's all your fault, I blame. I blame myself. Never mind. I blame me.

So in terms of wealth creation, focus on a great career, focus on getting great at your career and increase your ability to earn. And then once you've. Your ability to earn. Don't increase your ability to spend. Reduce your. Reduce your spending and then invest the balance. Something as simple as an S&;P 500 fund over time will develop enough wealth for you to retire on. And, of course, you know, I'm going to say buy a little bitcoin along the way. But it's a mistake to put your, in my opinion,

It's a financial instrument, not the be all, end all, and take a look and learn about some of these other things. I think that's one of the reasons people tune in to our show as well. For one, they wanted to learn about crypto and to it's like, Well, how do I make money? What do I need to do? And so we've always been adamant about not giving financial advice, but we bring people on who are intelligent enough to

Right? Be safe. And the other thing is to think about your career right now and think about, okay, does my career have the ability to for me to make a lot of money? And then what are the people that are making a lot of money in my career doing so? Take one of those people out, identify them and take them out for lunch and you pay for the lunch.

And don't say, I want to pick your brain.

Don't say I want to pick your brain.

I hate that.

And just and just talk to them.

Don't say I want to pick your nose either, because that's gross.

Also, that's very gross. And just have I just say, listen, you know, I've really seen you've been incredibly successful. Tell me your story. What do you do different from everybody else? What makes you different? And somebody and if you just shut up and let that person speak and and that person will tell you the things that they've done, they've they've generally come in earlier. They work harder. They've they've done more. They've put themselves in the pathway of opportunity.

I love that. You know, and that's one of the things that I that I really did back in 2006. I created a podcast called Cultivate Greatness. And I was like, you know what? If I go and interview all these amazing people, then some of that's going to rub off. And now I have a lot of these amazing people in my network. Right. And so, like even taking time and just creating a podcast of some sort and interviewing people will allow you to have access to people you wouldn't usually have access to.

We call that the Jon Lee Dumas effect, right? That's basically what everybody, Jon did. And so they're being successful people and now is all the entrepreneurs are burning their own fire. So I actually had a point and in my bad joke there, I just I lost it completely. Oh, I remember. So. Everybody can't do that, though, because as was said in Caddyshack all those years ago by Ted. What Ted and I want to say Ted Knight was as name the comedian tonight. What he said was, well, Danny,

So I have been both the ditch digger and the ditch owner. Right. And when I was let's call it Ditch Digger, working three jobs. Right. Working during the day and then working at night and then working on the weekends. I was still thinking about how do I get better at my job. I was still spending far less than I was earning. I was still. Right.

You're you're an achiever. And the world is not made of achievers. There is a reason we have this bell curve and we have this thing called average because the majority of people look, they're they they go to their jobs and they're not aspiring more to that. Their cash in their checks, they're barely living within their means and they have no hope of going beyond that in their mind that this is as good as it gets.

You're asking me how how do I how do I force change on the.

No, no.

I'm saying how do you get a swift kick in the ass? You know what they're going to do? They're going to change if they want to change.

Right. That's the bottom line. I can't help those people. I'm here on this podcast and do this type of work for the person that wants to change that. The person that look is looking around their life and they're thinking, you know, my life's got to be better than this. There's got to be a better life than this. Like that guy, that girl, that person. I can help the person who sits around and is perfectly happy with their life as it is. God bless them.

I don't think they're happy, though. I don't. Well, some people are, but.

I have to change, Joel, because air is coming and it's here and it's getting crazy for a lot.

Of us. Are you going down that rabbit hole? You going down? You see what's happened with A.I., with Chat, GPT and Mid Journey, These images, you know, all of a sudden, unless you are excellent as a photographer or as a content creator, you're you're not going to be needed anymore.

I would say this is a warning that everyone listening to should pay attention to. If you have not made obtaining financial freedom your top priority. You are making a mistake of epic proportions because as I improves, economic opportunity will shrink at a scale that we have never, ever seen before. Economic opportunity is going to coalesce around the very smartest people in this world.

So where are the new opportunities? What's going to rise? What are we going to have a need for? You know what? With the horse and buggy, that thing goes away. You know, you get the car, right, Self-driving cars are going to come. Then you're not going to need Uber drivers that came up in this, you know, shared economy. Where are the opportunities going to rise? Have you thought about this much?

I haven't thought about it much, but I have thought about, okay, what are the core skills that are valuable no matter what world we live in? So one core skill that that let's say you you think you have no talent? I have average intelligence, but I'm not really particularly talented in anything. There's one core skill that any I believe anyone can learn that is the greatest equalizer.

It's juggling. I know he's going to say juggling.

Right? I thought it was going to be really, really, really ridiculously good looking and humble.

And juggling.

That have no learning how to sell.

See, I was wrong. I was learning.

How to sell. Anyone can learn how to sell. Yeah. If you can learn how to sell, you will always be able to feed yourself and your family because yes, I will be able to learn how to sell. There is.

It's that personal to.

That personal touch. It's going to be a long time before computers will be able to fill in that gap. And they will eventually, but it'll be a long time.

We are entering into a brave new world. Seriously, as we're rushing to 2030, I mean, here we are. We're in 2023. Yeah, 2030 will be here before we know it. Right. And it seems to me like I'm looking at this. Maybe it's because after 2012, we've entered into the Age of Aquarius and things are just rapidly. But if you look at the last 100 plus years, you know, it's like from horse and buggy to the car to the airplane to good Lord, here we are with a I

You said Panopticon. That's cool. I haven't that's. I haven't heard that.

It makes him sound real smart.

It does. Explain to everybody what the panopticon of an.

Optical is, essentially a prison that you don't really realize. You're in a prison where there's cameras everywhere.

The Matrix, are you?

It's well, it's a it's the Panopticon, in its truest sense, is like a central tower that can watch everything. But not everybody realizes that they're being watched.

Surveillance.

It's everywhere. The surveillance state on steroids is happening.

My, my, my new June oven is watching you right now.

It's true. Yeah, that's right. And it's general direction. I don't know if it's all that or not, but it's probably going to make my bird my next meal. But so it is interesting to watch at where we're heading and it's like it's like that's where I'm kind of like humanity. We got to wake up because things could get crazy in here if we don't pay attention.

So let's talk about what would you view as a crazy outcome?

What do I view as a crazy outcome? Well, you know, just the tightening of of everything when governments well, now we're already at a point, from my perspective, where elections aren't trust, we can't trust elections because they're all using these online software. And then and look how quickly they shut down the world for COVID. You know, basically all all they had to say was, hey, we need to shut down for a couple of weeks and the whole

And you're such a conspiracy realist.

But let's talk about. I hear you. Yeah, but let's talk about how it directly affects your ability to live your life the way that you want to live.

Well, we we couldn't go outside or.

Outside or outside of a pandemic, which is that's been a once in a century kind of deal maybe. Right. We'll see. You can call me.

But they pulled it off Once they masked us, once they got millions of people jabbed. And now a lot of people are regretting having done so. And they collapse the economy. They killed businesses and they're like, huh, Well, if we could do that, what else? Can we do? Right.

Right. But they also flooded the world with liquidity. And again, if you were nimble enough, there was an opportunity there to make enormous sums of money. My, my my point is, is that you're what it appears to me is that you're personalizing something that isn't personal. The machinations of government wanting to exert more control are as old as Roman times. Heck, even Greek times for thousands of years. Governments, rulers, barons, you name it. Kings, queens. We've never always have, always

They're going to go after the $600 Venmo.

You know what I mean? That was just that was the stupidest thing. It's like some guy sells his sells his trading cards and you're going to I thank God they strip that out. I mean, they say they're going to bring it back. But I think that's one of the dumbest.

Things.

That they can do in such a time. Suck of of government resources. You're going to chase people down for $600 with the, you know, trading card revenue. It's nuts.

I think perhaps you should be clear that you do not cheat on your taxes because he just asserted that.

You might like that. That's not cool. Throw me under the bus. No, but I'm so I mean, if I look at it, I'm like, you know what? When I don't pay attention to the media or because I don't pay attention to mainstream media, but when I watch the doom and gloom, you can see it's like, Oh, sure, this is great.

But it's infecting your current state of mind. You know, let me ask you, do you have food in your fridge? For sure.

It look like I have for you.

Are your bills paid? Yeah. Do you have people that love you? For sure. Do you enjoy your life and live your life?

Well, that's how I do. And that is. That's the case. And that's what I talk about. But I can kind of see it's like it's that sort of the cavalier thing that kind of makes people go all right as they slowly inch towards the shitty ness for us all. And so if I look at it, I mean, I want to be optimistic. I think that humanity on its core is really positive. Yeah, but.

You're carrying a homing device that listens to everything you say, that tracks everything you.

Do in sacred geometry. Track the tracks, the.

Tracks everywhere you go. And you tell me you care about your freedom. Mm hmm. Put this in the goddamn garbage If you care about your freedom. Carry a flip phone.

Yeah, dude.

A Faraday cage.

Yeah. Yeah.

I got it. But, you know, you can see how, you know, even people who are going to protest and stuff, they're like, Oh, well, they protested. We pinged their phone. We saw who they are. Boom. Now they're gone. They haven't. You don't see them anymore. Yeah.

Don't again. If. If that bothers you. Yeah. Don't have a phone. Opt out of having a phone. You can live your life without a phone. It might feel like you can't. But you.

We did before. We did before a tweet.

Yeah.

With your mind.

Pretty instant to the chip.

They're going to chip you and you'll be able to tweet with your mind. Done. This is why a lot of people, you know, So we just got our second. Not not Travis and me. We myself and my partner, we just got our second citizenships in another country and another passport. And I'm a big believer in having a plan B that is taking control of your life and going, what if things go to hell in a handbasket? What can I do?

You still haven't told me yet what hell in a handbasket means. I need you to be specific.

A dystopian hellscape. Dystopian hellscape.

What outcome is it that you would say? All right, I'm out. I'm like, I know what the outcome is for me and I'll tell you, but I want you guys to tell me what.

I would say. You think of the Great Reset. You're going to own nothing and you'll be happy. It bugs the World Economic Forum and how they're saying, Oh yeah, we're going to do away with me. You're going to be eating bug protein powder and you got it. And then we don't even know we don't even know the consequences of all these 60% of the world population taking this vaccine.

Okay.

There's a lot of crazy shit going on.

And this is my third time asking you this question. What is the specific set of circumstances?

I think that I think the global economy crashes. They bring in a digital cbdc of some sort. 30 to 40% of the population dies because these strange medical coincidences and it just and then slowly they're going to go, oh, look, see, it's a new cause. This is causing all of us. And so then, you know, if you look at what Orwell said, it's my view as sort of an Orwell and Aldous Huxley hybrid. It's not so much one or the other. It's kind of a little bit of both.

So I think I think where it where it would cross the line, where it would say you must take this medical procedure whether you want to or not.

You don't have this passport, this vaccine passport. You can't go and people can't come to America unless they have the vaccine. Our systems.

Are still.

Going on. It's just a matter of how we focus on him.

He has something in his head, though, that. Go ahead. What is yours?

No, for me, it's it's a confiscation of wealth, loss of property rights, insane taxation. Right. You know, those are the things I would say. Okay, those are my red lines. I'm out the type of hellscape that you are describing. Let's say that I was a professional bookie, man. I would those odds of.

Well, look at China, though. I mean, they've got the social credit system now that there is if.

He's talking about 40% of the people dying.

Well. Well, Travis has a flair for the dramatic frame.

Yeah, well, I mean, the the statistics are ramping up pretty. I hope that's not the case. I hope that I'm wrong.

Right. Because people we know.

People we know.

Are.

Have a very bad situation through these medical coincidences.

I feel like I have to be kind of a voice of reason here and say, friends. Those of you that are listening right now.

These guys are conspiracy theorists.

Take an extra dose of your blood pressure medication and say, take a breath. And and so many things that that mankind has obsessed over and been afraid of. They've just robbed the joy of of daily life. At the end of the day, we don't know how long we're going to be on this earth, Right? We could die next week. We die tomorrow. We could die in 50 years. But

We moved to Puerto Rico, Miguel.

You know, hug a loved one, do something nice for a friend. Go out for a walk and enjoy the the reality that you're living in right now. Because, yes, maybe you're right. Maybe the reality we're moving into is horrible. But why put yourself in a situation where you are living that reality now and living it in the future?

Well, I'm saying this is because I'd like to find a solution so that doesn't happen. I don't want a lot of I don't want some of this dystopian technocracy to happen. This technocracy, you know, whatever. Technocracy.

I like tech or not.

Graffiti is a fun technology. No, it's if you piece it all together, I mean, and I think that that's part of that has has hurt me with wealth creation even in the past. Because once I realized about the Federal Reserve Bank, how it's not backed by anything and how they print money out of thin air, and it's like, well, the military says so and so, the government says, oh, it's the world reserve currency, so it's money. When I realized that it wasn't money back in 2000, I was like,

I did buy the first iPhone, to be fair. Yeah, I did. But that's I'm a I'm a pioneer. You know, you mentioned bitcoin. Let's let's wrap with Bitcoin, okay? Because you guys are doing your analysis and you're looking at what's happening now, but you're also looking towards the future. A bull run is going to happen. Probably not this year. Maybe next year we start to see the beginning of it into the having into 2020 for two questions. One, do you think the governments of the world can, if

Okay, Governments can slow down Bitcoin adoption and they're already doing that and have done that. They cannot stop bitcoin. So that's the answer to that question. Unstoppable in terms of where Bitcoin will go on the next run. I, I struggle with that because I was one of those people that thought that we crack one case on Bitcoin and was shocked, really, really shocked that we didn't commit.

To it didn't match the previous cycles.

No, not at all. Not at all. And and the only thing I can think that was different was you had interest rates rising. So I.

Agree. CME In the futures, does that impact?

I don't think so, because the spot market is so much bigger than than the futures market trading in the future. You know several years in the future, CME trading will probably be much bigger than spot trading. But that's that's quite a ways out, quite a ways away.

It was perplexing because it did the 63 or 64 and then it went down and then oh, then it was going back. I was like, whoa, it passed 60. Oh, man, we are. But I kind of thought that was the tip when it was the 63, 64. And then we saw it go above that and I was like, Oh, but I'm not financial advice. But it's like, I saw that. I was like.

All right, so let's what's the prediction?

Yeah, I think we break six figures. I, I, I'm at this point I'm not comfortable giving a target for the next cycle. But yes, I believe. We will break the old high and break above that six figure mark.

So 100,000 minimum. What you're looking at from here, that's like what, a6x? Yeah. From where we are right now. So if you are indeed dollar cost averaging on bitcoin right now, two years is what we'd be looking at. Yes. I mean, if anybody could tell you in two years you're going to six extra money, It's ridiculous. Nobody would have believed that before except some far fetched scheme. Yeah.

So what do you think about this time? Because, you know, every time that it halves, there's less Bitcoin that's being created right now. We're going to see it's going to start getting to the point, it seems to me like, oh, now we're going from this amount to this amount. There's only only a few bitcoins created every 10 minutes. Oh, no, half of that. So, you know, 19 point how many like 19.5 or so? There's only a million and a half bitcoin left to be mined. Does that impact the

Yeah, it does, because the demand picture for bitcoin increases over time. If you look at the amount of external demand for bitcoin from ten years ago, which was nothing to then two years beyond that, and then two years and two years and two years, it rises exponentially. And if you look at excuse me, if you look at what the source of new Bitcoin demand is going to come from, a lot of it is going to be driven from Wall Street. If you look at Fidelity adding

What what about this? Because this is one thing that's always been interesting to me is that, you know, with gold and silver you can have paper, gold and silver and it looks like 500 times more gold than there is actual gold or 250 times more silver. Whatever the numbers, they might be flipped. I don't remember which ones, which what. And then we heard FCX was basically selling people Bitcoin and they weren't actually selling them Bitcoin. That's like what's

You should, but you don't need to think about it right now. That's a problem for seven years from now. Okay. But not now.

Okay. I'm not going to worry about it today. I'm going to put it put a, you know, reminder on there. Seven years to set your alarm.

Remind me to worry about the.

Bitcoin you just set off. Everybody's. Oh, that's right. Now I take it to worry Palm Beach letter. What's the website for people do.

It's a Palm Beach group dot com that has all the info on our firm and we have a free newsletter and you can find out more about us at Palm Beach group dot com.

Awesome dude thanks for coming and hanging out with us today. Thanks for shared.

It. Thanks for having me.

Yeah right. And you're going to I can we talk real briefly about your plan, your personal plans for the future? Do you want to share at all what you're doing?

Sure. Yeah. I'm actually going to be crossing the Atlantic soon. In my own boat? Yeah. A 50 foot catamaran built. I'm just a couple of weeks and will be flying out to the Canary Islands, and we're taking the boat across the Atlantic, and we're sailing right into the Caribbean.

Your captain to worry me.

Ahoy! I mean, how would you be finding gold? Well, maybe not. You know.

I can go, right?

He'd be fine in Bitcoin.

Yeah. So definitely once in a lifetime deal and really looking forward to it.

You better get yourself a good captain, matey.

I have a wonderful captain.

That's good.

Well, there you go. Ticker.

Rodney. I say Tiki because his last name ends in an eye. And so in my head, just shortening it.

So here's what you don't know. He his parents are from South America, from Guyana, and that was a British colony, and they moved to England. So he was born and raised in England and didn't leave until he was 16 years old. So he had a British accent. And I said, What? What happened to your British accent? He said, Wall Street knocked it out of me, like working on Wall Street. Usually,

You know, of that. I did notice it seemed a little like it felt South African.

Yeah, but it knocked it out of them. Like Wall Street is like in New York, just completely.

When everybody's walking around talking like this. Yeah, it's like. So go to work. You get no tea, you get no credit.

Let us know what you guys would like to. You know, here on bad crypto this year, we're we're open to interviewing a lot of leaders in the space. I will say that our inbox is full of people that want to be on the show, but we're being way more selective in terms of who comes on the show because we have to be interested in the content in order for it to be interesting to you, for us to help make it interesting. And we don't want to pump

We want a week, maybe two a week.

Maybe ten a.

Week, maybe zero a week. Yeah. The word you got for the last.

You know what? Hit the subscribe button. And when there's a new episode, it's going to end up on your device. And then you'll be like, Oh, I know this is quality because it's here in my my ears.

We made you some content. You they made you your favorite. Open up. Why? Here comes the content.

Are you just making this up or is this.

Part of That's Bo Burnham? Oh, right, right, right.

I saw you.

You watch it. Watch. It's like, okay, but then like you listed on Spotify haha, you watch it again. You're like, Oh my God, it's is so brilliant. It's so I love that guy.

It it was really well done for those. You don't know what he's talking about. He did a Netflix special, Bo Burnham called Inside that he filmed in.

One room.

During COVID and it is very creative and it will make you feel a little bit claustrophobic. Like I'm walking out now. Let me out.

What was so good for me is that, you know, when you look at it and it's so creative, he made all the songs, produced all the songs, wrote all the lyrics, made all the made all the music, did all the recording, did all the lighting, all of it, all the editing, the produced like it did to me. It's just that's why it got nominated for six Emmys and won three because it's just who does that like That was so good. And then Netflix goes, Wow, that was so good. Do you have any B-roll? So we

Good stuff. Yeah. Well, thanks for listening, everybody. We appreciate you as always. You can write us at Bad Crypto podcast at gmail.com or give us a call on the bad crypto hotline at 788859030 and we're going to have a new NFT is coming your way as well. So if you're not in the bad crypto nifty club, go to bad crypto dot uncut dot FM and get these spinny red and for more airdrops coming your way. And that's all I got. Lord Travis Scott formerly sir.

That's all you get. You got an hour today. You got an hour plus.

Boom.

Boom badness.

So stay bad. Oh.

A group Whose band?

The Bad Crypto podcast is a production of Bad Crypto LLC. The content of the show, the videos and the website is provided for educational, informational and entertainment purposes only. It's not intended to be and does not constitute financial investment or trading advice of any kind. You shouldn't make any decisions as to finances, investing, trading or anything else based on this information without undertaking independent due diligence in consultation

Badness. Stay bat all.

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