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The Macro Environment and the Effect on Crypto Prices
Episode 7426th September 2022 • Generational Wealth with Cryptocurrency • McIntosh
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The macro environments (inflation, world events, basic commodities and energy, as well as stocks, bonds etc) definitely affect crypto currency pricing. I discuss how these unprecedented times are keeping crypto a "risk on" asset and what it will take to decouple from these traditional financial markets.

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Belgium to Shut Down a Nuclear Reactor

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I can be reached by email at mcintosh@genwealthcrypto.com and on twitter at @McIntoshFinTech. My mastodon handle is @mcintosh@podcastindex.social. Looking forward to hearing from you!

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Transcripts

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Hey, set stackers. It's September the 24th and this is episode 74 of Generational

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Wealth with Cryptocurrency. I'm your host, Macintosh. Today, we're going to be talking

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about the macro environment. Of course, no one on this podcast is a financial advisor

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and all information presented on this podcast is for informational purposes. Now that we have all

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the legal stuff out of the way, let's jump on in. All right, guys, got a lot to cover this week.

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Going to try and do it as quickly as we can. Going to begin with our normal market update.

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Last week, I said most likely we were heading down and that's exactly what happened.

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And taking a look at the charts, last week we had a close Bitcoin. We'll discuss Bitcoin and then,

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of course, we'll cover Ethereum and ADA. Last week, we had a close 19,417. That's what we were

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basically discussing at the time of the recording. This week, the close was 18,802. And right now,

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it's sitting at 18,810. That's actually a number of hours later. It's at midnight,

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recording a little late tonight, five hours later. And frankly, it's been kind of flat

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since we hit that end of week. Ethereum is at 1294. ADA is at 44.618 cents.

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ADA is actually virtually unchanged, ironically, from last week. It has held up well, so to speak.

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Ethereum was down about 40 bucks, which is not terrible. But relatively speaking,

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it's probably roughly the same ratio as Bitcoin is down. Bitcoin is down about $600.

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So there you've got it. We're still going down. In my opinion, I think what we're going to see,

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and I may be, as always, I don't know, of course, but in my opinion, what we could see,

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it may continue on down to retest this 17.5 level that we saw back in June.

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And if that level does not hold, we could see chaos. We could see it going down to 14, 15,000.

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Or it may bounce back up, hit 21k again, which is a level that it seems to like.

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And I could draw some lines and make some things and whatever, but

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it may pop up there to 21-ish. 2019? Yep, actually, that's about right. Let me look at

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that real quick. I'm going to draw a line. I haven't been on this chart, actually, in months.

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It's funny how well it's held up. 21.384 or so, depending on where exactly it would hit.

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And in my opinion, it won't break that. If it does, then it may continue higher.

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If it does, then it may continue higher, of course, but I think it'll reject and come back down.

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And one of these times, in my opinion, between now and the end of the year, and I think I've

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said this, maybe not quite so clearly, but in my opinion, between now and the end of the year,

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we will break that 17.5 level and we will see what's down there.

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It'll be a great time to buy. That's my plan. I plan on buying as much as I can when it breaks

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that level and I feel like the real bottom is in. I could be incorrect. That 17.5 from June

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could have been our low. Now, I did buy some Bitcoin back then, not as much as I would like,

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but I hope we're going to have another opportunity here. Of course, you should continue your DCA.

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As we always talk about, do not bet the farm on this. Do not say, well, I know it's going to

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reach 14,500 or 15,000 or 10,000 or God forbid, something less than that. I don't think it's going

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to reach those levels, by the way. I'm just throwing them out as examples because you could

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get left holding the bag of fiat while Bitcoin takes off because when it pivots, when it turns,

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we could see a move up very quickly. Same thing with ETH, same thing with ADA.

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They will follow along. ETH is trying to do its own thing, but the reality is it's still

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chained to Bitcoin at this point, so we might as well just talk about Bitcoin, right?

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All right. Definitely still not a good all-in moment, in my opinion. So, I'm thinking this

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week we may get on down there to 17.5. That's probably not something I should be saying,

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but it is certainly possible. 17, let's see, on this chart, it looks like it might've been 17.572.

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And of course, this varies from exchange to exchange. I don't know what this exchange is,

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actually. I'm trying to find it. I don't see it. It doesn't matter. It's roughly that level.

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I think we'll see that this week. I think we'll see that test. I would actually kind of like to

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get it over to be honest. I'm just kind of tired of this. I'm ready. I'm just ready for something

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to happen. But down or up, let's see it. But the Bollinger Bands, so these are some of the standard

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indicators, and maybe at some point I'll cover what I'm talking about. This would actually be

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good for a video podcast, but the Bollinger Bands, the RSI, they're all on the longer term

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timeframes, three days in this case. They are showing lower, so I see no reason why it won't

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continue to trace down. That 17.5 level will be a very important level when we reach it.

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All right. So that's our weekly update. Not a whole lot of change, still going down. Buckle

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up, guys. Buckle up. And actually, what I want to expound on this week is how Bitcoin and the

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crypto market in general follow currently the macro environment. I believe, and it's my opinion, that

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even though at times they may run ahead and fall further, or they may not go as much down as the

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traditional markets, and by that I mean stocks, bonds, this kind of thing, the traditional

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financial instruments, if you want to call it that. And that is due to the fact that at this point,

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Bitcoin is considered to be a risk on asset, meaning when times are tough, we deleverage from

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that. And until that changes, and when is that going to change? We'll talk about that in just a

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second. It will continue to follow the stock market. Now, it may outperform the stock market

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as it has done so historically, but it will follow the general trend of the stock market.

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Stock market up, Bitcoin up. Stock market down, Bitcoin down. Now, why is the stock market? Why

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are the world markets in the shape they are? That is a question, in my opinion, that can be answered

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by what we call macro economics. What's going on in the world? And y'all know I talk a lot about

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world events because they do, in my opinion, affect the world markets, and hence crypto.

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Of course, we talk about the adoption of Bitcoin as legal tender, for example,

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the different regulatory actions that are taking place around the world, that kind of thing. But

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I'm also talking about things like when oil is $120 a barrel, when inflation is 8 plus percent,

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when energy prices are skyrocketing, that's a bad investment environment, right?

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We have seen the stock market, the US stock market, and the world stock markets consistently

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all year go down, down, down, if anything, very brief, rises, okay?

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So, we have to be concerned about what's going on in the world until Bitcoin decouples. And with it,

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I think the others will as well. But until Bitcoin decouples from this idea of risk on assets,

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assets, and it becomes a risk off asset, it becomes something that you would invest in

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regardless of the macro environment. When will that happen? It will happen

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when officially or unofficially, and it will probably never be official, but

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when Bitcoin is the world currency reserve,

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when it is used for trade between nations on a very frequent basis,

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not just kind of this one-off type thing, when it is legal tender of multiple nations,

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not just a couple, and some of them being larger nations, can you imagine the ripple effect

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of the United States, for example, saying, well, we're going to keep the US dollar,

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but Bitcoin is going to be considered legal tender. And people in the United States,

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businesses, I should say, in the United States are going to be required to take it.

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That's a very important step, that a large economic power, whether that's the United States,

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whether that's, who's second? China, Japan, Germany. And that actually brings something to mind.

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Japan, we've got, I was looking at some Japan news this week. And of course, I mentioned,

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I talked about last week that Japan was the number one in terms of debt. I believe that they're very

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close to defaulting on their currency because they're not raising their interest rates,

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which would be the standard way to fight this debt, raise your interest rates, and so on and so forth.

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They're refusing to do that, and they're continuing to print more debt, print more yen. I think

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that's what they call their currency. And eventually, they also, on top of that,

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have an aging population. They're not, they don't have a young, vibrant population. They actually,

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their average age is rather significantly high compared to basically every other country on

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earth that I'm aware of. And so, you can kind of look at that as everything's slowing down,

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but when your debt is ballooning, that is the last thing that you want. You don't want it to

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slow down. You can't pay it off like that. The debt becomes this accelerating thing, and ends up,

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you end up in hyperinflation. And I think that's going to happen. Now, it would be very interesting

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if Japan, who, in spite of all of that, is certainly in the top 10 of GDP in the world,

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but if they manage to somehow retain that, and they get into this crisis, they realize that the

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yen is, to use a bad euphemism, in the toilet, then they say, well, we're going to make Bitcoin

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legal tender. Again, first world, economically prosperous, if you want to put it that way,

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country, even with the amount of debt that they've got, switching to Bitcoin. That would be a huge

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thing. So, at some point, I think we're going to see this cascade, and that point may be 20 years

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off. It may be longer. I may never see this point, frankly, and that's okay. But, when it does happen,

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these are the things that will set in motion this decoupling. Now, is it going to help in this crisis?

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It might. It depends on how bad this crisis gets. If things do develop where countries are defaulting,

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and I'm talking about the US, countries in the EU, Japan, China, if these countries start defaulting

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on their currency, then something's going to have to replace it, and it may well be Bitcoin. So, that

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could accelerate all this, even though there will be a massive amount of pain in between. I promise

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you, I do not want that to happen. I would rather it did not, because it will be painful, and there

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will be millions of people who will, probably billions, actually, of people who will suffer.

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And that's not what I want, but what I do want is for countries to stop

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treating fiat, paper, money, these national currencies as, well, it's like monopoly money

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to them. All right. So, that's kind of my thesis. The things that are happening in the world,

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the things that are happening in the world are affecting prices. Bitcoin hasn't decoupled.

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Where do we go from here? Like I said, I believe that we're going to go lower. I believe that we're

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going to hit $17.5. I think we will test that level. It may bounce from there. It may head

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back up to $20,000, $21,000, maybe even a little higher. I do believe, and again, this isn't

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financial advice, and again, you should still be DCA, and do not forget that. Don't say, well,

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Macintosh said that we were going to get to $14.5 or whatever the final level is.

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But I do believe that that's what's going to happen. We're going to break $17.5, and then

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we're going to test it. We are going to test the resolve of the Bitcoin people. And I think

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at that point, there's going to be a fair number of people who fold, who put in the

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cards, so to speak, and say, I don't believe. And that's okay, because we'll buy that Bitcoin from

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them at discount prices. And maybe we stop at $14.5. Maybe it does go lower. Maybe it hits $12.

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Maybe it hits $10,000. Especially if it were to get to those levels, I think that's the last time

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Bitcoin will ever see those prices. I don't know what that means for Ethereum,

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ADA, for these other assets. I would assume if Bitcoin were at $10,000, that Ethereum would be

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at $800. I don't know, maybe even lower. By the way, I think this actually came out

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with the talks here, which were over a week ago. I think I talked about them last week,

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but I saw this on Twitter. I thought this was pretty good. And this was from a macroeconomist.

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He said that Powell acknowledged that the low earners are getting hit pretty hard. The year

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over year inflation rate of necessities. Now, necessities, I should define, because it's on

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this chart that I'm going to talk about, are energy. Well, utility costs, gas, food at home,

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and electricity. Now, I guess rent is not included in this, because we all know, at least in my area,

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maybe, that's certainly gone up. That's interesting. I actually didn't realize that until just now.

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But anyways, those are very basic things. They're up 30% year over year. So that, in my opinion,

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is a 30% interest rate. Inflation rate, I should say. I really wished inflation and interest

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did not start with eyes, both of them, just a little aside. And so there you got it. And who

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does that hit? It hits everybody, but it hits the person who's making, let's say they're making

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$10 an hour. It hits them the worst, because 30% to them of those core necessity things is going

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to be a lot harder than somebody who's making $100,000. Let's just be honest. And even if you

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raise that minimum wage, for example, here to $15 or $20 an hour, it's still, they're going to be

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hurting far more. And that's one of the things I hate about this inflation stuff. It really does

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hurt the least fortunate, the most. All right. So this chart is just crazy. It goes all the way back

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to 1941. So during World War II, and it's all over the place. So in 19, it stays relatively level.

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There was a brief spike in 1947, up to about 10%, 9%, 8%. And then in 1971, gasoline crisis, anyone?

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1974, 1977, that timeframe, it spiked up to 20 plus percent, dropped back down to 10, and then

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spiked to almost 30%. And then it dropped down. In fact, it went negative, 1986. Then it went back

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positive. It hit 10% again. It looks like an 89, and then went down again for a bit. And then it

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spiked up, 2001. That's strange. 2001, it hit 20%. 2004, it went back to 20%. And then in 2001,

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and then in 2007, when all this housing crisis stuff was going on in 2000 and what, 2008,

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it hit 25%. So we have not actually reached this level that we're at, 30%. And this was in late

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July, by the way. It's ever, actually ever according to this chart. Now this chart goes back to 1941,

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but we're getting on close to 100 years of data here in this chart. 80 years. Crazy. All right.

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So this is part of the macro environment. Of course, the United States here, we are struggling,

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just like Western Europe is, just like other places are. You're seeing a lot of unrest.

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Some of it you may not even know about. For example, in Lebanon, one of the news items this week

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is that the banks in Lebanon will stay shut indefinitely. Why? Because the government was

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placing all kinds of limits on withdrawals. And then they were saying, well, you just can't take

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your money out. And then people who own money that had it in the bank, they were literally

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coming in and trying to rob the banks. I laugh, but it's sad because the banks wouldn't give them

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their money. So they finally just said, well, for now, for however long it's going to be,

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we're just going to shut the banks. On the heels of our what? 75 BIP. So what's that?

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Three quarters of a percent interest rate hike. And by our, I mean the Federal Reserve of the

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United States, the Bank of England has now raised their interest rates by 50 points, half a percent.

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That's now the highest level in 14 years. So the inflation is raging. Interest rates are

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starting to follow. And the economists who in theory are leading these Federal Reserves and

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whatever are starting to panic, in my opinion, because they don't know what to do. They know

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if they print more money, it's going to cause more inflation. But if they don't print more money,

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well, they're just, they're trapped and they don't know what to do.

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All right. Also, we had, oh, well, I wanted to actually discuss the energy thing in general,

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because here's another news item actually. I'm just going to sprinkle the news, I guess,

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throughout this episode, because it's very relevant to the episode.

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In Belgium, and I double-checked on this, I saw this a few days ago, I did double-check,

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the Doyle 3 nuclear power plant is being shut down.

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According to the Belgian law on nuclear phase-out, the Doyle 3 nuclear reactor will stop operating

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on Friday after 40 years of operation. So this is a law, they set this in motion

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for, well, for climate change, for the ecology, whatever. It's not climate change because the

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nuclear reactor is carbon neutral. It produces radioactive waste, and of course, you have the

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danger of a nuclear meltdown. That's what they're concerned about. So that being said, we see this

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happening in Belgium, we see this happening in Germany. I understand it's about to start

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happening in France, who's heavily nuclear power operated. And I'm not going to read all of this,

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but basically, they're shutting down a plant that's providing 25% of their country's power.

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I don't even know what to say. For one thing, you start this shutdown process, and if it goes

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on long enough, they basically could not bring it back online. It's a very long process.

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Not bring it back online. Even if they said today, we're going to bring this back online,

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it would take a while. But their legislature, their governmental body has indicated that

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they're not going to stop it. You've got energy prices out of control, you've got

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inflation going crazy because of energy prices, and they're going to shut down their power plants.

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So, I guess, well, I don't know where they're getting their power from.

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Maybe they just won't have any. I don't know. So, of course, you've got the entire

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Russian-Ukraine situation, war going on. You've got the disruption that's happening there.

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You've got Russia shutting down the gas pipelines that run to Western Europe.

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And they were a major part of the electrical energy economy of Western Europe,

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and it's just all been shut off, or at least the vast majority of it.

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So, you've got all these things going on, and yet, nobody's doing anything about it.

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And this, on top of all the debt that's already there that we talked about last week,

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is, in my opinion, creating a crisis. And it's one that won't be easily resolved. That

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power plant, well, I'm not quite certain. I believe it was putting out 1,000 megawatts,

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if I'm reading this correctly, a year, which is a huge amount of power. I don't know. I'm just—this

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stuff leaves me literally speechless if you can't tell, and that's not something that happens very

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often. All right. We do have to move on, though. So, energy printing of money slash debt is creating

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this crisis. Where is it going? I don't know. I think we're past the point of—we were in 2008.

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If you all remember, I set out three levels, at least for the United States. And I think,

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in general, this would apply. For us, it's something that the people in the United States can

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hopefully relate to. 2008, we had the housing crisis, which caused a pretty severe crash.

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I think we're past that at this point. I think we might as well just go ahead and say,

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we've already reached that level. I said, if we go past that level, we're looking at basically

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like a Great Depression-type event, which the Great Depression, for us, was in 1998.

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The Great Depression, for us, was in the 1930s. It started with the stock market crash in 1929,

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if I'm remembering correctly, Black Friday, and then went into the 1930s, and really wasn't

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resolved until after World War II, basically. And then, if we go past that level, then we're

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looking at hyperinflation. I don't know what that means. We've never been there.

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The closest the United States has ever gotten to hyperinflation is in the early days.

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There were probably, before we had solid forms of currency, there was probably some crazy stuff

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that was happening with currencies, because states were coming up with their own stuff,

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if I understand my history correctly. But during the Civil War, the South, so to speak,

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the southern half of the United States, they had their own currency. And post-Civil War,

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of course, that became, well, even towards the end of the Civil War, it became useless. It

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hyperinflated. That's as close as we've come to hyperinflation as a country.

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So, it would be a new experience, to be honest. I don't know. I really don't know what that means.

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All right. I know this is kind of a hard episode. I apologize, but I don't ever want to sugarcoat

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things. And if we get into that situation, I don't know what that does for Bitcoin, to be honest.

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I think if we reach those levels, I think somewhere between this Great Depression type level

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and hyperinflation, that Bitcoin becomes, that's its best chance, and that's sad to say,

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but it's true, of becoming a risk-off asset, of becoming decoupled. Because the stock market,

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I will say this, countries, companies will be going out of business because they will be bankrupt,

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because their stock will be worthless. They don't have cash reserves, and the reserves

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that are there are being inflated out of existence. So, you'll have massive unemployment.

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You'll have all these companies going under. I do think, though, that Bitcoin would become

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decoupled, and it's going to set its own true value. And then we'll find out what is Bitcoin

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worth. And we may find out it's worth a lot, because Bitcoin won't be inflated.

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One last thing I want to talk about before we move on. And I hope I say his name correctly.

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I think I do. Raoul Paul, he is a macroeconomist as well. He was one of the most famous investors

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in the world, to be honest, probably certainly up in the top 20. He used to be a hedge fund guy,

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and retired from that, and basically does investment stuff now. Lives in the Grand Caymans,

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if I understand correctly, because he's worried about this hurricane that's out in the Caribbean,

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as he ought to be. Anyways, he put out a tweet this week. We were talking about debts,

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what reminded me of this. I thought I had a... I have it here somewhere, but I can't find it.

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I'll just kind of do it by memory. He basically said that the total debt of the United States,

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and that's not the federal government. The federal government debt is about $30 trillion.

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The total debt is 100% of the GDP of the world. Remember, last week we were talking about GDP,

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the debt ratios. The United States total debt, that's private debt, company debt,

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and federal government debt. And I do not know where he comes up with his numbers.

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I did look up the total world debt is roughly $30 trillion. The total debt is $30 trillion.

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Total world debt is roughly like $85 trillion. I know our federal government debt is roughly

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$30 trillion, and I know that the private debt is $30 trillion. So that's roughly,

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that's about $60 trillion. I don't know where the other $20 trillion is coming from,

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but I do trust him that he has accurate figures, and that I'm just not picking up everything.

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He said that's never been done, certainly in the case, in the world's history. And I absolutely

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believe that. And I don't know how you come back from that. So anyways, you're just stacking

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stuff on stuff. You guys are going to be like, man, Macintosh, you're really bringing us down.

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Sorry. All right. Let's move on to happier topics. How about that? So we'll leave things there for

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now. Support. You guys have been great. I really appreciate this. I do. And I've been getting

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support this week, all through the Fountain podcast app, if I'm not mistaken. I don't know

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if I just talk about Fountain too much or what. They did put out a big update this week, by the

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way. They've changed slightly the model that they're using to pay people that listen. To be

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honest, they've tuned it down a little bit and it's got this random element to it. So

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you can earn one sat a minute, one time, and then maybe tomorrow you're earning two sats a minute

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or 10 sats a minute or whatever. And that operates, I understand, for a period of about an hour a day.

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Now understand, you're just getting paid to listen to a podcast. It's easy to say, well,

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I used to get more prior to this change. Maybe true, but it was also probably unsustainable.

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They do have to support developers. They are a company. They're in this for a business.

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They're taking money that they're making off of running promotionals and this kind of thing,

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and they're giving some of that back out to the users. So please don't be upset about that.

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Just use it as a way to be able to support your favorite podcast. I'm making sats so I don't even

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have to put any in. So I did want to mention that update. And I also want to mention probably

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tomorrow or Tuesday, my podcast will actually start being promoted. I'm actually paying to

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have it promoted. I'm doing a little experiment. We're going to try and increase our listenership.

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I think we've got something good here and I wanted to get more people listening to it. So

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we'll see how that goes. It probably will be showing up on the promoted page for a fountain

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here either Monday or Tuesday. So we'll see. I had a couple of booths come in. Al Minio,

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and Al, I hope I'm saying your last name right. He is, well, let me just read what he says.

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Very good episode. I'm following the podcast from now on. Thanks a lot, Al. I really appreciate that.

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I have a podcast in Spanish and I started to use Fountain weeks ago and I love the value for value

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payment method. I hope that one day Brian of London comes on my show. So he has a podcast

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in Spanish, which he did not mention the name of the podcast. Al, if you want to send me even just

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a one-sat boost with a message or whatever the minimum is, 10-sats, that's fine. But you can

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let me know the name of your podcast. I'll be happy to let other people know. I don't speak

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Spanish. I speak Spanish very, very poorly. I'm afraid it won't do me any good, but I'm all for

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promoting other people's podcasts. And he sent in 20-sats. So thanks a lot, Al. That was the

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What's Buzzing with Hive episode. For the more fun with numbers, we had a boost from Thomas.

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Thomas boosted us the last episode as well. His handle is Borson... Thomas, I'm sorry. It turns out,

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it turns out, well, Thomas is German, which we'll talk about in just a second. And Borson

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Gelaber, I assume that's German. Thanks for the mention, McIntosh. Yes, it's Thomas,

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and I am running the Borson Gelaber podcast, German podcast about investing stocks and crypto.

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Thomas, I would love to talk to you just kind of about your view of the German economy and how

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things are going, actually. Found your podcast since Brian of London posted a link to the Hive

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episode. So thanks again, Brian. That's two people now that you... Actually, there was a lot more

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than that, but these two certainly. 100-sats using Fountain. So if you speak German, you can take a

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listen to Thomas' podcast. And he's talking about investing stocks, crypto, that kind of thing.

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And Mayor Morrill's podcast, so I assume this is Kyron, if I'm not mistaken, said those

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Patar numbers... Peter Patar, I apologize. I still don't exactly know how to say his name,

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would have been from the 20% split that I included you on. So this is kind of a maybe

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behind the scenes thing. He very graciously sent 2222, which is a row of ducks, what we call row

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ducks, sats using Fountain. I certainly appreciate that. I don't think Satoshi Streams carries on

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that message, but if you had your own note or a Fountain account, you would have seen it.

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Kyron actually, well, he included me in the split for when he did the review of our show,

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which I super appreciate in case I haven't made really clear at this point. I actually gave him

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my Fountain account for that. That's where those sats ended up. And Patar did support that episode,

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certainly. That's not what these were actually, Kyron, and I did figure it out. They were streaming

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sats. That top 10 table that I gave last week, that is it says boost, but it's actually summed

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up. It's boost and stream. So it's actually kind of nice about that. Now that I figured out, because

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he had not boosted that episode, but he did watch it and he was streaming like 50 sats a minute. So

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it was awesome. Appreciate that a lot. Anyways, just a little confusion there and long-term,

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I'm actually going to move off Satoshi Stream. It's a great way to start if you're doing this,

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but I don't want to knock them, but it's not flexible enough. For one thing, I can't do splits.

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If they could actually fix that, that'd be awesome. And I really need better accounting numbers.

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It's hard to keep track of this stuff and the info that I get, but I'm actually working on that

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with my project, which is going very slowly. All right. Oh, and that's it for our boost this week.

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So we had some people streaming as well. I really appreciate all that. I'm going to run through the

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top 10 real quick. We're running long. You guys must get tired of me doing this. Top 10 though,

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I updated this right before the podcast, so this should be accurate. Number one,

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Mary Morales podcast that we were just talking about, 21,236 sats. Number two, Signs of New

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Growth at 3,300. And Martin, if you're listening, Lyceum, I had made an error last week. Martin's

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actually third. He was the one that had had these boosts that didn't work. I've talked about it

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weeks and weeks ago. His total though, his real total is 3,056, which puts him in third place.

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Fourth is Ginny Jams at 2,717. Fifth is Bittar with those 2,200 sats. Sixth is user,

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and I'm going to do this one last time, user 5175386301288162. Oh yeah. At 442,

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I'm just going to start calling them user 517. Sorry. We got to tighten this up. Number seven,

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Brian London, 386 sats. Number eight, Takua Crip. Takua Crip, send me a boost. Let me know

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what that means. I'm kind of curious. 321 sats and tied for ninth, exactly, which is really awesome.

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Crypto Nomad, 198. And our friend Thomas that we were just talking about, and Thomas, I'm not

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going to try your username on fountain. I'm sorry. 198, but it's Thomas's podcast. I'll try it.

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Borson Golobory, you must be laughing at me, Thomas. Oh man. Oh man. All right.

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Let's wrap this thing up. One last bit of news. GitHub did quote, unban

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Tornado Cache. So if you recall, Tornado Cache was the mixer, the Ethereum mixer,

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their GitHub account was removed and the lead developer was arrested. I've talked about it

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quite a bit in the past. Don't want to really discuss it here, but they did unban it. They

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put the code back online, but read only. So I don't know, at least they can recover the code.

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I'm sure they already had backups of it. And that is it. I would point out, of course,

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as I said, the very first week in September, if I'm not mistaken,

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September should be going down. We are well on our way to that. And of course there's only

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four or five more days. So I do not see how we're not going to be a red September. We'll see though.

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So the Generation Wealth Cryptocurrency Podcast supports podcasting 2.0. It's a value for value

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podcast. We don't have any sponsors. We don't have any advertisers. You can support the podcast in

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three ways by time, talent, or treasure. Want to support the podcast to have some time or talent?

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I could use some help with things like chapters for the podcast, transcripts,

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probably a few other things. I am updating the episode list, by the way, and making great

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progress. I think I've got like 30 left to do the very, the first 30. So if you go to the homepage

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now, you can click on episode list and then you can click on the episode if you're looking for

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a particular topic and it shows you the show notes. And it also has a web player right there.

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You can play the episode. Treasure is just what it sounds like. If you find the content valuable,

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you can support the podcast by streaming sets from podcasting 2.0 app or sending support via

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PayPal to Macintosh at genwealthcrypto.com. You can get those podcasting 2.0 apps, which are

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better than the old apps, plain and simple. They do more. They're more functional.

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We got new features being added all the time. The development that's going on in podcasting 2.0 is

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amazing. Can't say enough about it. Anyways, you can find those at newpodcastapps.com.

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They'll have links to all the different apps. If you'd like the content, I would love it if

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you'd tell your friends about the GWC podcast. Thanks for being here. I hope this has been helpful

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and I do again want to apologize. I know this was kind of a depressing episode.

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I'm sorry. It's just reality. I can't. I have to be honest. I have to be honest.

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Anyways, I'm on Twitter at Macintosh Fintech and you can reach me by email at macintosh

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at genwealthcrypto.com. Of course, our website is at genwealthcrypto.com. Stay humble, friends.

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