How are you doing well? Are you jordan good to meet you? I got to say i'm pretty humble great, my pleasure. My pleasure just got back from uh florida. The second so awesome yeah. Well, i appreciate you getting on the call with me.

I know that uh, you know your your assistant said that uh you had some sickness and stuff hope, you're doing. Okay, now and uh feeling good yeah, oh yeah, that's a slow throat! I'm okay, awesome doing good right on me, ready to roll, let's rock and roll buddy. We won't waste your time uh, i so we kind of ran into because on twitter it's there's been some speculation that you've been paying attention to the amc and gamestop situation. I got to say: i've been watching your channel for a while.

I love your podcast. The wolf's dead man - i love, you know watching all the guests you bring on and i think, there's a huge opportunity for some education. You know there's a lot of stuff that you know and i think, with everything going on with emc and gamestop. There's a lot of people that are getting into investing, who don't really know a lot about the market and, to be honest with you, i'm still learning investor myself.

So i try to learn, as i go figure out the process and as i'm learning bring people with me - and i think, there's a great opportunity here with your knowledge and expertise and experience to to bring some light to some different things that are happening in the Market, so i kind of wanted to talk about that. What you're thinking about the current market? You know climate uh, the amc, gamestop situation because we got ta say i mean there's uh, there's definitely been some cool stuff going on in your twitter and i'm very excited for sure. You know i mean, like i think, with gamestop, especially because i just uh, i made a really really right on the money call. Just like the last couple weeks.

I said that if the stock stays up much longer, the company will just issue more shares. They'll do a secondary and they'll they'll dilute out. I mean that the market, you know. Essentially it's not a good thing.

When a company sells a ton of shares in terms of the impact it has on the price, it's all supply and demand right um. You know. Listen, it could be good for the company in the long term if they take that money and they put that to use, and you know, create more value. But, generally speaking, it's like it's like this is like not a good thing for the price of a stock.

In the short term, because when they do a secondary, it brings the price down. So, but who knows when it comes to gamestop, because everything with gamestop sort of defies logics yeah, nothing, nothing technical about it doesn't make much sense. I'm glad you brought that up because there's actually been a lot of fun kind of going around with the dilution, with both amc and gamestop. So the amc ceo, adam aaron, has been talking about this.

The shareholder vote for passing 500 million shares to dilute. I personally voted no for that, because in the short term, it dilutes supply and demand, like you mentioned, you increase the supply in the short term. You know the price is going to cut in half into a third or whatever it is um. What do you think about that situation, and do you think it's pretty likely that that passes uh? What kind of you know advice, it'll, pass it'll pass, it has to pass and why? Wouldn't it be ridiculous for it not to pass? In other words, i mean for you to vote.

No, it's just. I understand like it's not like a rational decision to vote. No, in other words, the stock is wildly overvalued. It just is.

I mean it's just under no there's no possible scenario: we're seeing a either gamestop or amc is fairly valued. This price they're wildly overvalued so the so it just would make sense, and the reason i knew this was going to happen is because how could it not happen like the management as a fiduciary to you as a shareholder? It's a responsibility to you to take advantage of an inflated price. If people are going to buy it or it's, you know at 10 times the prices you'd be trading at fundamentally then the management it behooves the management to raise money, because it's not that diluted and you know to raise that much at that - that higher price you're, Not diluting people out that much it's one thing if they were if the stock was eight dollars a share and they sold a billion shares that would dilute everyone out, but it's anti-dilutive at this level, because it's not worth this much money, you're raising, i mean whoever's, Buys the stock in my mind, it's kind of nutty. It doesn't make sense the whole thing right now.

It doesn't really make sense in terms of like you know it's just not trading at a fundamentally, you know justified price um. That doesn't mean you can't make a lot of money trading it at these high prices whatever. But i just don't. I don't see.

I just don't see how you justify it. It's just trading here, you're, just betting, that some guy is going to take a company and make it worth infinitely more money in the future. But like that's like it's, not a really good bet is versus the company's already on the way there. I don't know i mean it doesn't really make much sense to me, but sure yeah, i see what you're saying i mean and, fundamentally speaking, you know, amc and gamestop.

Both are 100 overvalued. I mean gamestop trading at 200, bucks 300 bucks all up to 500 uh. Doesn't doesn't make sense and it goes against all logic like we've been saying, i think it what it comes down to is just kind of like the cult following that they kind of have. I mean people are just buying it, because people are buying it.

You know uh, but i'm totally with you in the long term. You know it's gon na be good for the company in the sense that it will raise cash. It'll help amc get out of debt um. You know that that's the whole sort of situation.

The problem is, is that i think people don't understand the difference between bitcoin and gamestop, and amc like people have been i've gotten. This really strange um they're in this fall sense of security right now that it'll, just we'll just hold it it'll come back because, like they watched it happen with bitcoin and and it did come back, but bitcoin is not a stock. Bitcoin cannot issue shares whenever they want right, this very, very finite supply of bitcoin, which is what gives it its value so to speak. Um and i'm a bull on bitcoin right now, uh, because i think that the technicals are going to bring it higher.

But that does not exist with the game stop. This is exactly what will keep happening if this the longer the stock stays up in an inflated value, the more shares they will dump on the market until it goes back down to the just mark. My words it'll keep happening again. They'll, keep adding more and more and more shares onto the market, because why? Wouldn't they right? It just doesn't make any sense: you're you're, it's it's! It's essentially increasing the book doesn't make any.

Instead of saying like it, it's helpful to the company to raise money at this point. They should you know so they'd be crazy, not to yeah they're, both on the verge of bankruptcy. I mean with uh gamestop failing and the brick and mortar locations, uh everything going e-commerce at this point um. It definitely makes sense to raise that capital and kind of rebrand themselves in that way.

So so with that being said, them diluting the shares down, and you know trying to raise capital, so they can continue to uh to exist to thrive to potentially grow down the road. What do you see happening over the next six months to a year? Do you think there's people are going to walk out the other end of this getting pretty burned? Do you think that there's actually potential with all this stuff going on, like people are pretty well expecting? A second squeeze like we saw the first time and i'd be curious to know if you think there's a chance of that happening again. I don't think that happens again. I think already.

I think i predicted the second squeeze i predicted when it fell back down. I said it was going to happen that was exactly right uh, so the stock really got clobbered. I said it wasn't over, so i said no it's not over, although it was really not more less of a short skills. More of like a gam squeeze with options like people buying the options then, and then people who issue the options want to make them.

You know they're issuing calls they want to make them cover calls, so they buy the underlying stock to reduce their exposure, so that drives up the underlying stock right. That's what drives it up you, but if people buy enough options, it'll drive up the price of the stock, someone's got to sell them the options. The people that sell the options don't want unlimited exposure, so they go buy the stock and create a spread and they get a coverage called a covered call right. That's who writes these.

The the institutions write these these instruments and typically the people that make money options are the ones that write options, not the ones that buy options. That's an old law arm wall sheet. Listen, i think, there's a big misconception here about. First of all, i want i'm on the side.

I love the. I love that the average person is making money. Don't i don't want to think for a second that i'm against. I think it's great.

What i'm saying is it just doesn't make any sense, and - and there is no way anyone's gon na ever - justify to me that this is rational and it's sustainable. I don't think it's sustainable. What's at some point, what's gon na happen is right now i don't think you got you. You realize you're young.

How old are you 23 years old, very young 23.? I have pants older than you and i'm not even kidding. I have literally, i have clothes in my closet older than you right, so i'm just telling you when, when the when a bear market hits all of this stuff goes out the window, there is no more stocks that we like and story stocks, the stocks that don't Have fundamentally go to freaking zero like they go down like they go drop like faster than you could ever imagine everything. Does a rising tide, lifts all ships and a tied sinks, all ships? Now, what you end up, having in really bad bear markets and they will come and it's coming it's going to come. Maybe tomorrow, maybe in three years, but it's coming.

Okay and when it comes, this is not gon na last it can't it will not it whatever. The actual value is it'll, probably drop there and below, because everything trades below its value in a bear market. That's what a bear market is about right so and and what's going to trigger the bear market? Who knows you know it could be a black swan event where something happens or it could just be. You know, interest rates start going up um.

I doubt that's going to happen so quickly because the government can't afford for it to happen um. But you you can't, like you guys are. I want to be very clear here to everyone. That's listening! If you have a young viewer, you guys are operating on this very, very dangerous assumption that a bull market lasts forever and it doesn't there's a completely different set of rules that apply to a neutral or bear market all you've.

Seen in all your time, investing is a raging bull market and you can. Everyone looks really smart in a bull market. People look very, very foolish in a bear market. They look just as fools in a stable, like even in a stable market.

Everyone looks kind of foolish because it's really hard to beat the market. It just really is like no offense to anyone. It's a very difficult thing. You know i'm saying like warren buffett if he makes 12 he's a genius, the guy in the real world.

So it's like it's like these ideas of making these extraordinary returns. They don't exist in the real world, we're all being um part of this. This incredible combination of a bull market, that's fed by the government, dumping massive amounts of capital into the economy and banks lending absurd amounts of money. It's all the same thing that happened: 1999.

2007. It's the same cycle repeating itself again that never really fully cleansed out of the system, i'm not a doom and gloom guy. I'm i'm not saying it's happening tomorrow right! No, i i told you this could go off. It could go off for three to five.

More years i don't know - and i think everyone should make as much money as they can until that point. What i'm saying is be careful, definitely because you get spoiled by these markets and then suddenly i remember 1999. I had a lot of friends that they became day traders. It was just exactly as it is today.

My friend exactly everybody and their grandma was a day trader. It was all the rage and in a period of like three to six months, everyone got wiped out, wiped out people that had great careers and as mortgage brokers, and this thing just they left it to become day traders they got destroyed, because what you don't realize Is this stuff? None of these strategies work in a down market. They only work in up markets. So that's that's the danger.

So, in the meantime, i think what this the smart thing to do is to like make as much as you can right now right and play these momentum right, but make as much as you can but be really just be aware, and you brought a very good Point in the beginning, which is educate yourself, so you know both sides of this, so you can see it coming and at least you know, um take some chips off the table right. I have a lot of respect for the people that started this gamestop thing. Keith, gill, who did the early research all these guys, they're very smart - they were right in the in the stock was four and five dollars. It's a very smart trade.

It's a good thesis right. It was really great, but now it's like a different. It's a different animal right now, yeah. That makes total sense.

You know and that's why i want to bring you on because i'm not trying to bs anybody. You know i want to get the the unedited uh, the no filter. You know straight truth on what you think is going on, because that's what matters the most to me is education. You know um, that's what my channel is built on is just seeing what i see and you know bringing that to the public.

So we can, you know, get the word out there and just try and tell people what's up um, you actually brought up something, that's really interesting, which was the idea of banks um being able to send out a lot of capital right now and something that i Was reading on on some news? Articles is talking about a supplemental leveraging ratio which i think ended on march 31st. So this is the idea. I think that banks are able to lend out more capital to big institutional buyers who could have potentially been over leveraged and after that expired. I remember seeing in the news that some of these hedge funds got liquidated.

I think discovery and viacom both took some pretty nasty hits, and that seems like it could have been a precursor for this. This bear market that you're talking about. Do you think that's something with with merit to it? Do you think that's uh? That could be like the black swan, where you, you see some some big hedge funds that do get liquidated, because maybe they are over leveraged or there's, there's banks that are selling out liquidity and my way off the ball here. Let me know what you think.

I don't think so i don't think that i i think it's something to be much different than that. I don't. I don't see those type of things really making an impact. There's a you have to understand something: there's a very vested interest that the government has right now in keeping things going, they keep kicking the can down the road and kicking the can down the road and kicking the can down the road.

Our deficit is 20 plus deliveries or plus trillion dollars. The interest on that deficit would be crushing if interest rates ever went up. They can't let interest rates go up because they can't service the debt. If the interest rates go up, there's no way to service the debt, so they're almost like locked in right now they have to keep interest rates low.

The problem is gon na happen when inflate. If something happens and inflation takes off, that's going to be a disaster of like biblical proportions, because what should be happening right now and what's not happening is there should be rampant inflation because the government is printing money and printing money and expanding its balance sheet and Printing money, but for some reason there is not at least they're not saying that there is, but, for example, like i'm watching the housing market go up like by insane amounts right. I just bought a new car. My for my i just bought a car for my fiance right.

I got our beautiful aston martin, the the the truck new one right, 220, 000 right and i went into the dealership and we looked at that looked at a few of the cars and i was going to just buy her a car. You know she wanted a car right and i was going to buy her a car and i never i was going to pay for the car like give them the money, and then the guy says to me: don't do that just you have good credit. Your credit's perfect, just we'll give you the card just pay us 2 600 bucks a month, and i'm like. Oh my god.

Oh my god, it's my money. I mean i'll write off the 2 600 i mean like so i got this brand new. Beautiful quarter million dollar car almost for two for what i paid for dinner in one night, all right now, thinking about that and what shocked my my fiance she's from argentina she's like i don't understand how this happens like we can't do that in our country. You have to buy the car and earn the money.

People don't have that. I have friends that are buying houses right now, that are 10 million dollar houses and they'll put down 2 million dollars and borrow eight million dollars on an interest-only loan at three percent and they're paying 20 grand a month to live in an 8 million dollar house. That's a 10 million dollar house. That's insane! That's not normal! Like these! These you understand, like there's an inflationary there's something going on right now, where money is just so easy to get right now and you're, seeing it prop up, especially in the ultra high end of the real estate market, where prices are just skyrocketing, because money is so Cheap that reminds me a lot of 2005, 6, 7 and 8 before the gfc all right.

Now again, you know, i think the bigger threat here, though, is inflation. When i was a kid just to understand, when i was growing up interest rates, you know what they were 22, that's pretty high 22 right. Okay, you want to buy a house. It was like a 200 000 more which was like four grand a month.

Yeah. That's that's serious. It was crazy. So so, like so like, we we everyone is so what else happens? I think it's very important for the stock market.

So what happens is when interest rates go up that much? What happens is money flows out of the equity market and flows into the debt market into bonds, t-bills treasury notes, corporate bonds, commercial paper, all the things that give you a fixed income, because at the end of the day, in the real world, what drives the market Is return on investment right? This is what it's really all about. People don't really understand this. They should unders there's a very it's the most fundamental thing. At the end of the day, what everyone is hoping that, one day the company will be successful enough, that it could pay a dividend on the shares, so i can just hold my shares and collect my dividend right and that's, like you know, that's a conservative.

That's a value-based strategy and that's called the yield right. So every so stocks that are companies that are successful will pay a dividend, so the stock up the stock has a yield. So even if you don't sell it, you still get income off the stock. Now that competes with bonds, so when you buy a bond, the bond might have a yield, a coupon of let's say six percent or five percent.

So if you that means, if you have you know, for a million dollars, you're going to get back 50 000 a year in interest right. Well, guess what in 1978 that that you would get back 200 000 wow in interest. So what happens? So? Why would you invest a million dollars in the stock market and take a risk when you could just put it to fix a down a bond as a guarantee right? It's a guarantee of a u.s government bond right. So if interest rates are 18 or 20 percent, you can't do no one people, money flows out of the equity market into the bond market, so what's happening right now is interest rate just so low that there's no point to keep your money in in the bank Or in bonds, because they don't pay anything, so everyone puts their money in the stock market, but but what happens is if interest? If inflation starts to kick up, what does the federal reserve do? They have to start raising interest rates as they raise interest rates? The bond the fixed incomes all go up and guess what happens? Money flows into that big institutional money because they they're all looking for the return.

So when, when bond rate, when the rates go up, money flows out of stocks into bonds in the normal world. That i grew up with that everyone that really knows investing there was this cycle of high interest rates and low interest rates and when rates tick up it's bad for the market. All of that ended in 1999, when george bush refused to let that happen. After 9 11 combined with the dot-com bubble, they flooded money.

They they kept interest rates low, they told americans to go out and shop and there became a disconnection in the normal economic cycle that we all learned about on wall street economics and that - and there was a disconnection there. So there's like this sort of disc that started at this connection. That's still going today by the way where, where there's been we've been in a low interest rate environment, for god knows how long it's insane so but one day imagine if inflation really starts to kick up what would happen the government's gon na have to raise rates, But how do they service their debts? That's the quagmire, that's sort of the black swan of it. I think that everyone is probably is most worried about what happens if inflation kicks up.

That's the big deal right, man, it's it's it's! I think it's totally spot on. I mean obviously you're spot on because i remember reading that the interest rates, the inflation was only gon na, be like two or three percent, and i remember thinking after seeing all that liquidity getting pumped out. You know by the by the government the feds thinking. That's like nothing, that's like a percent difference.

You know, which is that makes no sense. You'd mentioned uh 2008.. You said: there's some similarities now to 2008 i'd like to kind of pick your brain and see what you think that is, do you think we're there a lot of the different things happening? You know back back compared to 2008, the crazy housing market crash. Do you think that we're kind of approaching some of those same things now in today's market yeah? I do, i think we all.

I see like, for example, we're seeing it in um in cryptocurrencies and we're seeing that in real estate, prices like asset prices are like they're just flying up and there's you know in crypto it's weird because there's nothing really backing it. So it's all about sentiment, and so it's interesting you know and again i said, i'm a bull, i'm very much involved in crypto. I like it. I like i like the centralized finance, decentralized commerce, i believe in it, but it's but i don't that that doesn't mean.

I don't believe that eventually the price of bitcoin will will crash. I think most people think it will crash, but if i think it first goes much higher right like i think it goes to a hundred two thousand, maybe i'm wrong, but i think it goes higher before it goes low. But i think it's due for a big correction at some point that doesn't matter really because bitcoin is like it's not it's like not meant to just always go up, it's supposed to be a stable source of value and nothing could just keep going up. It doesn't make any sense, yeah he's like it doesn't make any sense.

It wasn't satoshi who meant he didn't design it for that yeah. He wanted to be currency, it didn't it took a different turn and it became a store of value, at least for now, but i think, ultimately you know digital dollars or wine, whatever it's going to be, will end up being used in commerce just as much as Anything else, but i i just i think that right now you're i don't know i mean. I just think it's pretty obvious that, like you know, everything is going flying up, but inflation is staying low. How is that i don't know so i would speculate.

You know there was a lot of things that weren't brought to the public and when everything came crashing down a lot of stuff got exposed all at once. Do you think you're gon na be looking at a similar situation now where there might be some manipulation happening behind the scenes? Um? Where that could you know, we just don't know, what's actually happening to to push things up, because we know about liquidity. You know they're they're, they're, printing bills, which isn't matching the inflation rate, the stock market's still going up uh, which means the bond yields are down, but i mean that seems like a really easy answer to um. You know, that's definitely something that i don't comprehend to to a certain degree and i'd be interested to hear what you think so, there's there's another factor involved here that is sort of an x factor in the sense that you know, technology um has increased efficiencies in Things like manufacturing and um, and you just have a lot more productivity per man hour because of technology, so there's been massive changes happening that do sort of put a monkey wrench in the traditional cycle.

The stupidest thing that we could think is that oh, the world is changing. Everyone says that it never changes the world. People are people and human nature is human nature. We go through bubbles all the time, because it's human beings that make bubbles, because that's what we do, we all do.

That's just our nature right, but there are like, for example, this whole idea of how much oil is there in the ground. What what's you know? How much oil is there right and when i was younger, it was like there's only x amount of oil available in the world and we're going to reach this thing called peak oil in some x year. Whatever year it was. It doesn't matter because we never did, but what people didn't count on was incredible: advances in technology that unlocked new reserves so like, in other words, you know what does something cost to make to manufacture? Well, if you can have massive increases in productivity, it brings down manufacturing costs, which is suppressive to inflation, so part of, what's going on here is these increases on productivity that have been keeping inflation they're? Definitely somewhat keeping inflation more in check than not.

It's definitely a good thing for inflation, so there's a lot of moving parts here, okay, but i think that i don't know i don't i wouldn't say: there's anything like um that i could point to right now, that's other than the obvious stuff, like you know things That are just like you know you could you could point to bitcoin nfts, okay? Well yeah. Maybe maybe it's just complete all just nonsense, that's possible! But but it's not a big enough part of this system and if, if bitcoin went to zero tomorrow, you have a lot of very sad millennials. I'm sure the winklevoss would be very upset and i'd be upset too, because i'm involved in it myself, but it wouldn't be like it would have. No, it would have virtually no impact on the economy.

It's too small, a part of the economy to make any difference. I don't think even if bitcoin turned out to be like it's just people, let's say all the governments of the world said no, no, no more, we're not allowing that anymore. It's! I don't think that is, is pervasive enough in the system to um to have an impact that that big, i really don't. I don't think it's big enough right, so i don't think that's.

I don't think so. My thoughts on that don't really matter in terms of like is that gon na be something that that is a fraud, that's exposed that will impact everything. The only thing that that could you know, i think one thing that we all have to look at here, which is a really really important point, is that the us dollar is the global reserve currency and china is aggressively trying to knock the us off of that Position because it's that position as the global reserve company that allows us to do all this stuff that we take for granted, buy cars without any money buy homes at inflated prices, because the global reserve, where the reserve we can they, the federals, can print as much Money as they want without consequence, because it's the dollar, that's the reserve currency. If that wasn't the reserve company, you you couldn't, do it you'd, be like greece, when you run out of euros and you're you're screwed, you have to go in these austerity probes, everything collapses.

So so china now is just launching their own digital wand. The problem with china, though, is that no one trusts china really, so i don't really see china as being a legitimate threat to the us dollar. I really don't because who, in the right mind want to use one because, like the way the digital one would work, is the chinese government would literally be able to take your money in an instant they didn't like you or or it just it's. The ultimate big brother is the digital one.

Right like the crypto one is like just it's. The ultimate nightmare of a blockchain technology coming to pass is the digital one and nothing against the chinese. Just that the way they're the way their government functions. They do a lot of things really well by the way, but it's just very you know.

You know that digital want to be in your account, it's out of your account. Who knows that it's it's just it's ether, right um, but i i think that the biggest threat would be if something disrupted, the gl, the us dollar as being the global reserve currency. That would be an absolute shock. I don't think that the world would kind of come back from so quickly.

That's that's the biggest that i see interesting china's trying to do that. It's it's! It's fascinating that you you'd say that too, because i've seen some differing opinions. You know on different news sources. Such as cnbc fox, whatever talking about bitcoin, eventually acting, you know, 10, 20, 30 years down the road as some sort of currency, that's adopted by the u.s bank system.

Do you think that's a possibility, because i see the us dollar? No, no, not at all. I think that's insane, i think it'll never happen in a million years and i've been wrong. I thought bitcoin would disappear, but i know a lot about bitcoin. I don't think bitcoin in any way shape or form is meant to be that i just think that that the dollar is going to be digital, it'll, be a digital dollar, which it kind of already is in the sense that each dollar's got its serial number.

It's digitized right now, but just in other words, listen, i think a lot of people don't really understand this like what what what blockchain and crypto really is. It is decentralized finance all of the things that you that people know about coinbase, bitpay credit cards, they're, all nonsensical, really in the in the mind of what blockchain was supposed to be, it's like shoving a square peg in a round hole. Why would you take bitcoin and put it on a central exchange because it defeats the purpose of bitcoin? Bitcoin is a decentralizing tool that is supposed to take. The whole architecture is decentralized.

So when you take bitcoin and put it on central exchange, it's like a joke. Right, it's a complete joke right. It doesn't make any sense right so, like bitcoin is not very good as a currency, it doesn't it's terrible as a currency, it's expensive to move around, it's slow to move around uh. It just doesn't work very well now i personally have a company, i'm working with that, actually is trying to change that, to make it so it can be used for currency in actual commerce, and i think it'll be a huge breakthrough to be able to use bitcoin.

But i think that's, i think that, in other words, there's going to be adopts phases of adoption like, for example, one mistake that we make here is that we think of things in u.s terms. We have a stable currency. Well, if you're living in venezuela or argentina or africa somewhere or many countries like bitcoin, represents a really important store of value for people because, like it's like versus their own currency, that keeps going down and becoming more worthless every day. They have something at least this stable or tends to be going up now.

So that's a huge issue like in other countries in this developing world right having something like a bitcoin or an ethereum or whatever it might be. But, like i think, at the end of the day, the united states itself is going to have its own digital dollar, because it will use all the advantages of digitizing, a dollar which would make it it's very big brother-ish. It's really not it's exactly what what what the people who founded crypto were hoping would never happen, and i think that's what's going to end up happening is they're going to outlaw the use of, like i didn't know, allow crypto to be used, but there'll be very Severe off-ramps and on-ramps back into the like, you won't be able to do it without it like in the shadows. You can use bitcoin as much as you want.

As long as it's reported exactly you know, and i already believe that the nsa knows exactly everyone's bitcoin. I really believe that, and i think bitcoin's not even very good for money laundering. It's not really. You know.

There's better privacy coins like monero things that are meant for that bitcoins not, but i just don't think bitcoin replaces the dollar i think bitcoin is more like replaces gold. If anything, not the dollar. Okay, i don't think it's meant to be the dollar. That makes sense.

That's the bling okay, so staying on this bitcoin topic with uh upcoming bear market, whether it's a year down the road two years three years four years, do you think that bitcoin is gon na get wrapped into that? Because what i think about is, as you mentioned, a competition essentially for liquidity, whether it's the real estate, you know, bonds, the market uh, now bitcoin kind of being its own separate market that doesn't really follow the nasdaq or the spy or any of those different. You know um etfs index funds, whatever it might be. Do you think that's going to be something that ends up coming crashing down if the market enters a bear phase, i do i mean i, i think it will crash eventually yeah um. I just don't know when, and i think there's a lot of money to be made between now and then i think it goes higher before it goes lower, and i think that i think that, even if it crashes it doesn't mean bitcoin is not a great thing.

Like more like everything goes up, it goes down. It goes up and goes like that's normal. I mean like so i i there's nothing wrong with that right, like i don't think it's like that. Bitcoin like in the early my biggest concern with bitcoin back in the in the early days, and i was right - i called it almost to the day in 2017.

I knew it was going to crash. I thought it would be outlawed by, like i literally thought the governments would say. No i'm shocked that they did it. So my my my being a real bitcoin bear during those years.

I was very clear about what my my bearish thoughts were being based on. It was based on that. I thought the governments of the world would literally squash it because it just represents a lack of control of the money supply and that just doesn't seem possible. They would allow the money supply to go into bitcoin now.

What's happened is bitcoin has become it's, not money, it doesn't function like money right now. It's f, it's a speculative store of value, so it's not being used like money, certain transactions. It's not it's! You understand. It's taking a very different different approach and i think that the most healthy thing that could ever happen to bitcoin is more regulation.

The more regulation you put on bitcoin the more it bodes well for bitcoin's future. I don't think you want to look at bitcoin as being an adversarial instrument to the traditional finance system. It's got to be part of the traditional finance system. That will be the most bullish thing ever for bitcoin.

I think that's the direction that things are going in. That's why it's good, so i think the more there might be some hiccups along the way. There might be a lot of regular. I think, there's a lot of regulation coming in this year to bitcoin.

It could drive it lower, but i think ultimately, that's a good thing for the long-term prognosis for bitcoin, because my big problem with bitcoin was like. Oh the government's just gon na say it's: no, it's zero. If you buy, if you buy or sell it you're going to jail like you get it like that, and they could do that if they really wanted to, they could do that. They could make it illegal.

They did it with gold. I don't know they realized that your goal was illegal to own. Like the 40s, you go to jail yeah, they outlawed individuals, owning gold, yeah and then up until 72. Every dollar was based on gold.

Most people don't know this stuff. You, the government, passed the law. Quite sure was in the 20s or 30s, i think i'm not sure of the year, but they made it illegal for individuals here to give your gold, you know, return your gold to the government, or else you go to jail, so they could do stuff like that. Okay, um and then ultimately, in 72, nixon took us off the gold standard, so every dollar was backed by golden fort knox and then they made this floating currencies that we all you say, fiat currencies came into vogue and the fiat currencies have advantages.

They allow bankers to control things and manipulate things by using leverage and printing currency without any backing, and it's more based on the fact that the us has got really cool aircraft carriers that can blow you up. If you don't play by the rules. The other day, all money is it's based on how many nuclear bombs we have and how many aircraft carriers that we'll send it on our special forces and blow the company. If you don't play by the rules of economics we'll blow you up, that's what it's all based on.

That's all the reason why the dollar has value is based on military power, the abilities of us to project power, and that's has always been like that. But you know rome would say the same way: it's based on projection of power. There's like the stuff, that's a real, deep economic stuff, but it really is what drives everything that really puts a lot of perspective into my job. I'm actually uh active duty officer in the military.

I haven't shaved in a couple days, but um wow. I've never thought about that. I'm going to be honest with you. This is well think about that.

No, that's yeah! I mean think about what. What is why the dollar's, the reserve company, because of the navy seals really because we'll blow the out of you, if you don't play by our rules right, oh you're, not giving us the oil great there. You go bye-bye side, almost saying right, no think about it and they made that point. You know you don't play by the rules in argentina, but we'll take the is a mill.

It's all military might projection of power. That's why countries are countries. We forget that definitely wow. I feel like i feel, like i've learned a lot chatting with you about this stuff.

That's really cool, that's good uh! I think there was. There was another question that i wanted to bring up, and this was regards to sort of the the biggest lessons that you've learned with all your years in the stock market. I think uh, one of the one of the best assets that you have as a person is your experience. You've seen a lot of things.

You've done a lot of things, so, through your experience in the stock market being a broker, you know going through this whole process to get to where you are now. What advice would you give to people who are getting into the market right now, because i think there are a lot of new investors with technology being able to buy and sell in the blink of an eye on your phone. You know um, there's, there's just a lot of new people out there, who maybe don't know things they don't know. You don't know what questions to ask until you know what questions to ask you know.

My biggest best advice i give to everyone is: is that if you wan na play in the game of speculation, which is a really fun game - and you can make a lot right, you really just got ta you got ta, be up on it like you, can't Be a dabbler in this stuff. You got ta really pay attention. You know i talk a lot about fundamental value, but you know at the end of the day, it's like if you're gon na try honestly, if you want to play the game of finding fundamentally sound companies, i would strongly advise you to just put all your money Into spiders into the efts and buy the s p, that's your best bet, just buy it and hold it. You'll do much better, just buying the s p and holding and then trying to go find 10 stocks that are really great right.

Okay biggest lesson, the biggest mistake i made at stratton was in my in my hope of trying to appeal legitimate. I tried to find companies that actually had a business versus companies that had no business at all, but just really crazily big good ideas. It's those big ideas that actually the ones that the stocks end up taking off right, it's not about earnings and assets. You know in those in the game that you're playing right now, a lot of people are investing in it's not about earnings.

It's just not about that. It's about! What's got the exciting proposition. What's what's the latest thing, but you got to really stay up on that stuff, like you're going to be really like. If you want to play it, you can't just be like, i heard a tip and you get out.

You end up stay in the rooms in the chat rooms, get into a network of people that know, and and just really keep yourself abreast of this there's a lot of money to be made in the market in this sort of crazy story, stocks that run up And then you know then plum it back down. You can be on the right side without risking the farm every day, but you got to really stay up on it and just remember that when the market becomes bearish, that game doesn't work anymore right. That's uh, yeah that that makes a lot of sense. You know, i, i think the game is speculation.

It's it's! That idea of you know, buy the rumor, sell the news. Essentially, if there's a lot of excitement in the market um, you know long term as as we've kind of mentioned, you know, obviously, i'm a relatively new investor based on my experience, um everything returns to their fundamental value. You know bull market, it's overvalued, you know, vice versa, with a bear, but they'll always you know, come back long term to their their their true value with um. This speculation idea you can ride that wave up in the short term to to make money on speculative plays that people are excited about.

So that's that's! Yeah. There you go spot on awesome uh. I think that's most of the questions that i have. Is there anything that uh that you want to talk about? Otherwise, no also, i'm, i think, you're doing a great thing buddy.

I like what you do when you're giving people good information so keep on doing it. You know and uh and just uh remember just you know make as much as you can, while the times are good and then people more conservative when times aren't good and it's always just it's all - cyclists she's gon na you're in a good cycle. Now it's a good time to make money so go for it. You know i uh my journey to investing was pretty pretty goofy.

I was uh. I was an elite runner. I i ran marathons essentially, and i ran into a heart condition, got diagnosed with that and um. I i'm not the kind of guy that can just not do something.

You know i got to get something that gets me out of bed in the morning to be excited about, and for me, that's the market. You know i'm only 23 years old. I am relatively new. I don't know everything, but i try to grow every day and get where i'm supposed to you know go eventually so um.

I appreciate that it means a lot jordan. You got it my friend. Good luck, all right! Thank you. You have a great evening take care pal, all right.