This crypto market is young, and so it doesn't have you know a lot
of institutional money that's been pouring into it for years. So we really haven't
stabilized yet. We tends to be that prior to the bigcoin having that,
we're going to see losses of you know, thirty to even fifty percent.
So the fact that we know hit an all time high heading into that having
makes this a different time than any other. You're listening to Carrie Let's's Financial
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Financial Survival Network now more than ever. And welcome you are listening to and
watching the Financial Survival Network. I'm your host, Carrie Let's say we're getting
close to the last week in April. What does it mean? Well,
been watching bitcoin, it's been sinking. I've been buying it's been sinking.
A story of my life. Here David Strazuski is with us, and David,
what of bitcoin is it supposed to go up? After the having and
it hasn't. I'm a little disappointed here. Well I I hear you,
and so be patient. Is the is the is the is the caution there.
You know, this this crypto market is young, and so it doesn't
have you know a lot of institutional money that's been pouring into it for years.
So we really haven't stabilized yet. We tends to be that prior to
the bitcoin having that we're going to see losses of you know, thirty to
even fifty percent. So the fact that we you know, hit an all
time high heading into that having makes this a different time than any other.
But to answer your question, hey, we've now just done this having as
of Saturday or twentieth, and you know, and so we went from being
able to produce nine hundred bitcoins today now it's going down to four to fifty.
Demand is actually a lot higher than even the nine hundred on a daily
basis, and so you know, the question ultimately is where's price going to
go? Well, supplying demand is the easiest factor to be looking at right
now because bitcoin doesn't have like a use. You know, we're not even
really trading it as much right now. People are buying, they're holding just
like you and I and Carrie, we recognize that corrections are actually opportunities to
get more allocated. In fact, there's a lot of people are like,
hey, it hit recordized. Is it's too late to get in, And
I'd say, no, it's not too late to get in. We'll go
higher from here. But if you wait for some corrections and they will come,
then those tend to be you know, better buy in points to allocate
fresh powder like cash. So people that are dollar cost averaging are doing really
well. And by the way, you know, since the November twenty one
we were in a crypto winter, So if you've been in this any length
of time, you know there was nothing but losses that were happening there for
quite a while and it was looking blink. I don't know, things are
looking up to absolutely. I could not agree with you more. I mean,
it's just it's just people. You tend to get impatient, right,
You tend to like want to want it now because it's supposed to act a
certain way, and then your emotions kick in here, David, and that's
when you really get problems, isn't it. That's right? You know,
So if we if we remain you know, emotional as opposed to you know,
stick to the fundamentals. And by the way, you know, don't
bet the farm on this, right, So just because I have high conviction
and you have high conviction, a biggin is going to go up. There's
a lot of regulators out there today that do not like this idea of a
decentralized currency. They want centralized, They want control for no other reason than
to just have control. And so you know that there might be that we
find more resistance at the SEC. It might be that there's you know,
uh that we don't get the massive, massive reality that we're all expecting.
You know, maybe it's delayed by a year because of you political risks or
challenges with the SEC and coordinates that have to come out, et cetera,
et cetera. So you know, I'm bullish about this long term. There's
no way that you can, you know, magically just disappear the supplying demand,
you know, factors that have gone into this. In the fact that
there's only twenty one million of them, you know, we do have one
hundred and sixteen years left though of havings. The last having was supposed to
take away a place like twenty one fifty or twenty forty. So I have
a right idea, David, Yeah, why don't we make the Treasury and
the Fed do a having so every year they can only they have to have
the amount of debt they float, and they have to have the amount of
currency units they produce. Man, before you know it, the dollar would
be worth more than bitcoin. Right, yeah, except for the exact opposite's
happening right now. We find ourselves, you know, with a quote unquote
good at coon anomalo though we're printing a trillion dollars every hundred days. I
mean, come on, yeah. And the rule of seventy two, you
know, which we think about as investors. You know, if you can
get five percent, you know ultimately it's going to take like fourteen percent to
our fourteen years to double your money. Well, think about it. If
you have a credit card today and you're paying like twenty five percent, we're
talking three years and you've doubled. This is this is the rule of seventy
two that no one's factor going in right now. So there's a lot of
US debt, the odd issues today that I think bitcoins, you know,
bringing some information about and the world's paying attention. Yeah. Yeah, well
we have our doublings and triplings every year, right, exactly, havings.
Man, maybe bitcoin is onto something here. You know, I love it,
man, that's that's a that's a great that's a great, great thought.
Yeah. I mean, hey, like, really, shouldn't this be
we uh, we've we write it into the law. I mean what you
know, this is the thing they've always said, No, you can't have
the dollar go up. You got to have a base amount of inflation to
two percent a year, which will cover the amount of uh, you know,
increase in population and all this garbage. You know, they already did
it. Nature already did it for precious metals a long time ago. We
were seeing havings there. It's harder and harder and harder to to basically find
new deposits and new large scale mines in everything, right, And you know,
and I think part of part of what you were noting there is how
do we address inflation given the fact that it is ticking up? The Better
Reserve was incorrect about that when they tried to spike the ball in Acember sanatory
victory. How could it be come on? Yeah, sixty seven rate cuts
this year no big deal. I'm like, yeah, right, how on
earth did they think that's going to happen? You see that you and I
both know Milton Freeman taught us this that that that inflation happens as a result
of central banks printing money. There's not a example in the world of inflation
occurring outside of that specific phenomenon occurring, and we are printing at record levels.
I will give you the direct quote because I heard this quote forty some
odd years ago when I first discovered Milton Friedman. He had a special on
PBS of all things, they never run it now called Free to Tunes,
and the crux of it was that freedom, economic freedom leads to massive prosperity.
Government interference leads to failure. And he said that inflation is first and
foremost a monetary phenomena. Always, it's always a monetary phenomena. And yet
our federal Reserve here doesn't seem to get it, do they, Or they
get it, but they're being deceitful, right, absolutely, And this is
why I think that you know, the conversation about bigcoin and these other these
other like even gold and silver right at all time highs are just off by
at all time highs now today. But people are looking for alternatives, and
you know, where do we go when when Congress can't you know, when
they continue to default on their budget, because that's what they're doing, They're
defaulting on their budget by overspending continuality. We can't just do this and and
sustains as people. You know, we're going to find ourselves printing and printing
and printing and printing and printing. And you know, for all the naysayers
today that are like, oh man, the economy is so strong, no
question. We had an amazing Q one here to twenty twenty four. By
the way, we had an amazing Q one and twenty twenty three as well.
Both were based upon false expectations of when the FED pivot's going to come.
And so, you know, market, the market's now just starting to
catch up on this idea that you know, hey, maybe we're not going
to be dropping rates as soon as we thought that we were. And you
know, we were talking prior here about about some thoughts et cetera. And
you know, I think it's right. You know, the next month is
probably we're going to seal a melt up and uh, and we're going to
be seeing prices go higher and higher. I mean, shoot S and P
could hit six thousand. By the way, it's a lot easier for it
to hit six thousand right now than you know in the past, because you
know, we've got all the animal spirits that they like to call it.
There's there's there's a desire to want to see this bull market really happen,
and there's real money that'll jump into it. But but I believe that that
we're seeing unemployment come out right now in a way that if you don't see
unemployment right now's because you're not actually paying attention to the real numbers. We're
looking at these headline numbers and then the market rallies and it's like the market
doesn't look back and say, oh, wow, look they've they've you know,
revised these numbers down thirteen you know, months in a row. And
and so maybe we need to, you know, pull back our expectations on
the market cycle. Oh, it doesn't care about about in hindsight, twenty
twent eight rallies on the headline, and so you know, the headline numbers
have been very deceptive, and so statistics lie. And you know, we've
been talking about this carried. But ultimately I think that we're heading to a
time here where you know, it's not going to be a smooth as sailing
as we've seen. In my personal belief is that what is unexpected and coming
is that we've got a massive debt crisis, specifically in corporate America, but
also in the consumer side with you know, we've fact we had the highest
amount of defaults on consumer credit cards in the fourth quarter of twenty twenty three,
going all the way back to two thousand and nine, which was the
height of credit card delinquencies in the Great Financial Crisis. So we're not in
a recession, yet we find ourselves exceeding the Great Financial Crisis is credit card
defaults. So how do we say that this is just so rosy and peachy
and wonderful and that we're not going to have challenge this. I think it's
time to hedge. I think it's time to take a little bit of those
risk off the table. And so you know, places like betacoin places like
uh, you know, metals and metal miners even very specifically present opportunities I
think for the rest of the year and into the future that give us,
you know, the ability to really allocate this something that should be rallying up
and not necessarily having as many challenges with interest rates and FIAC currencies and the
debt crisis that that's going on and the banks that really don't have the money
to metabolize. I couldn't agree with you more. And it looks like we're
approaching a banking crisis. We never left the banking crisis. What I would
say is that this banking crisis is going to become more and more apparent because
if they don't cut interest rates, it's a give me, we're going to
have it right absolutely, and and and so the FED sort of at this,
you know, rock at a hard place, you know. So what
ended up happening. Paul Looker had to come in in the late seventies and
he had to ract at these rates all the way up. Why because his
predaces or cut rates too early, and it caused inflation to just take off.
I guarantee you right now that if we cut rates in the way that
you know that we were expecting to in December seven times this year, that
that would have caused the market to just rally and go to such highs right
now, that's very inflationary. If they don't cut. Just to your point,
we're going to see recession right now. Twenty twenty three had the lowest
amount of housing sales, even lower than two thousand and nine. That's amazing.
It goes all the way back to nineteen ninety five that we had a
lower read than what was sold last year. And so the average consumer is
not doing well. Housing is unaffordable. That's a part of the American dream,
the middle class. There is not a real strength right now like we
had pre twenty twenty. And so I'm trying to help people to understand something,
and so I say you should have twenty twenty vision. Let's look at
the world pre twenty twenty and now post twenty twenty. Where are we today
and what has changed? I can measure distance when I have two points in
time. Look at this. Inflation's off the going way high. We've got
interest rates that are way up. Housing has never been more unaffordable. We've
got credit cards at record high, delinquidcyes at red or high recordize it.
By the way, banks are about to be sucking wind even more to your
point, because those credit cards are unsecured debt on like a house you can
come and repossess or a car in the event that someone defaults. You're not
taking someone's milk and eggs and gasoling back. Credit cards are unsecured debts,
same with those buy now pay laters. And so as America's racking themselves up
here and putting themselves in a very difficult mathematical situation to pay off, I
think sit we are literally setting ourselves up right now for a very fragile moment.
And I hope that especially those that are nearing or entering retirement, recognize
these challenges and can ultimately, you know, do the things right now today
to preserve whole little back take something off the table. How do we allocate
is really the question today, And I think what God us here is not
necessarily what's going to lead us forward. I could not agree with you more
here. So it's the bitcoin, gol what else we got here? A
big fan of US oil. Now, obviously with any of these, we
need to get some regulatory changes in DC, you know, so the White
House, d C, et cetera. The regulators, we need them to
be on board with you know, mining and and and going for oil.
So I'm bullish on US oil. We do it cleaner and safer than anyone
else in the world. Not cheaper, but cleaner and safer. We prioritize
those things here in the Western world, and so I think that that's important
to understand. In fact, I think the US says enough oil for all
of us and natural gas even for the NATO, we just need refineries.
And so if we can get back to more supply side economics, they're going
to help to build us and bolster our nation. That's really our ticket,
I believe, to get out of this recessive direction that we're in right now.
But we also need to get the monetary policy together, and we need
to we need to balance a budget. So this is going to come down
to us demanding Congress in our elected officials to actually represent us and our best
interests in our children's future and say, you know what, we can just
print into this thing. Because if we keep printing like this and keep going
down this road, I fear that we end up in something called stagflation,
which is when we've got a stagnant economy inflation accelerating. This is the worst
case scenario, and it would definitely result in another lost decade. If that's
the case and many people's retirements as well as their fortunes far underwater from from
where they see their levels here today. All right, well, hey,
thanks for that jolt of happiness optimism here David, David, we want to
connect with you on the web, want to find out. Yeah, you
the best place to find you in these days, sure, so fed bubble
dot dot com. So I believe that the feeder reserve is the cause of
this recession. I think that we need to name the cause of the recession.
You know what's going on here, So the feeder reserve bubble. So
fed bubble dot com. I get to speak on an opportunity to go on,
get to know us a little bit in some of our thesis and some
understand. But people are interested in second opinions, different ideas. I'd love
to be able to share some of those thoughts. And we're building out a
lot more here in our video resource library as well. So exciting things to
do. All right, Hey, got a question for David myself kl at
Carrie LUTs dot com. Shoot me an email and the link to david site
fedbubble dot com can be found in the show notes to this interview on financial
Survival Network dot com. While you're there, please sign up for your free
newsletter David always a pleasure, Thanks for stopping by. Hey, appreciate you.
Carrie pleasures mine, Thank you. Thanks for listening to Carrie Letz's Financial
Survival Network, your solution to today's trying times. For the latest, go
to Financial Survivalnetwork dot com. Financial Survival Network now more than ever,