WEBVTT

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<v Speaker 1>The Fed has cut rates by fifty basis points. When

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<v Speaker 1>will we see the markets react? When will bitcoin and

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<v Speaker 1>all coins start to move? I want to share some

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<v Speaker 1>details with you, and Donald Trump bought a burger today

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<v Speaker 1>with bitcoin. I'll break it all down for you, guys.

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<v Speaker 1>Let's get into it. Hey, everybody, welcome into the Thinking

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<v Speaker 1>Crypto podcast. You're home for cryptocurrency news and interviews. I'm

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<v Speaker 1>your host, Tony Edward. On your way in. Please hit

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<v Speaker 1>that subscribe button as well as the thumbs up button

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<v Speaker 1>and leave a comment below. If you're listening on a

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<v Speaker 1>podcast platform such as Spotify or Apple, please leave a

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<v Speaker 1>five star rating and review. Folks, I'm sure many of

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<v Speaker 1>you heard the news already, and that is the Federal

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<v Speaker 1>Reserve has cut interest rates by fifty basis points or

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<v Speaker 1>half a point. This is very bullish, in my opinion.

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<v Speaker 1>We are headed to the easy money cycle. We're going

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<v Speaker 1>to see a lot more borring and lending. You're going

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<v Speaker 1>to see hedge funds and vcs and the average show

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<v Speaker 1>and people looking for mortgages and so forth. All of

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<v Speaker 1>these things are going to start to ramp up. I

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<v Speaker 1>think we're headed to the next book cycle. If you

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<v Speaker 1>follow the historical patterns of the economy. Now, that doesn't

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<v Speaker 1>mean you're not going to have corrections and micro crashes

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<v Speaker 1>in the market. Just look at what took place earlier

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<v Speaker 1>in August, right with the Japanese yen trade situation, but

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<v Speaker 1>then it recovered, So just keep that in mind. From

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<v Speaker 1>the macro we're talking about here, we're headed to that

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<v Speaker 1>easy money cycle and we're going to start to see

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<v Speaker 1>a lot of more activity in the economy as businesses

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<v Speaker 1>are going to be able to borrow and so forth,

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<v Speaker 1>and means more money for people to invest in. Now

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<v Speaker 1>a part of cutting the rates, the FED will now

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<v Speaker 1>have to print money to service the debt. And that's

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<v Speaker 1>where as investors in crypto we will benefit because we've

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<v Speaker 1>seen as global liquidity rises, asset prices have risen along

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<v Speaker 1>with it. Here are two great charts from ral Pal

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<v Speaker 1>macro investor showing the global liquidity supplies on the way

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<v Speaker 1>up and bitcoins price has been following it, so he's

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<v Speaker 1>anticipating it going up. We've seen the breakout in M

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<v Speaker 1>two in the United States as well as globally, so

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<v Speaker 1>money printing is going to start again, guys, And once

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<v Speaker 1>again we're heading into the next boom cycle, and you're

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<v Speaker 1>going to see the benefits in the economy. And this

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<v Speaker 1>is where we want to watch all of these different

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<v Speaker 1>metrics and stats and know what our plan is as

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<v Speaker 1>far as taking profits and so forth. However, as you

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<v Speaker 1>can imagine, today was a very volatile day. As I've

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<v Speaker 1>been telling you guys, any week there's a Fed announcement

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<v Speaker 1>in FOMC meeting, there's a lot of volatility, So I

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<v Speaker 1>can't judge this market right now. I'm actually going to

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<v Speaker 1>wait till next week when the dust has settled and

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<v Speaker 1>everybody is calmed down, because today we saw a lot

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<v Speaker 1>of pumps, then dumps and so forth, and this could

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<v Speaker 1>continue into the rest of the week. So we have

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<v Speaker 1>to be patient, guys, and our patients will pay dividends,

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<v Speaker 1>but we got to be patient and go through these cycles.

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<v Speaker 1>And we're waiting for the DXY, the Dollar currency index

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<v Speaker 1>to break down. I think it will break down below

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<v Speaker 1>one hundred very soon. Right now it's at one oh one,

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<v Speaker 1>So as the Fed cuts rates, the dollar will weaken.

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<v Speaker 1>This will start going below one hundred, and then it's

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<v Speaker 1>a full risk on investors. They're going to start to

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<v Speaker 1>put money back into risk assets like crypto in the

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<v Speaker 1>stock market. I've been telling you guys that there's six

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<v Speaker 1>trillions sitting in money market accounts and as the rates

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<v Speaker 1>continue to drop, those people are not going to get

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<v Speaker 1>the same return, the same yield. They will now move

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<v Speaker 1>it to risk assets as the money printing cycle starts.

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<v Speaker 1>So keep all of these things in mind. It's when

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<v Speaker 1>we don't want to invest with our emotions here. We

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<v Speaker 1>want to look at the data and the facts and

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<v Speaker 1>form our thesis. And as I've been saying, September is

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<v Speaker 1>pretty much a bad month for markets, so I'm not

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<v Speaker 1>anticipating anything while they're crazy or significant this month as

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<v Speaker 1>far as gains. But come October, as we head into

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<v Speaker 1>November and the whole of Q four, we should start

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<v Speaker 1>to see some very strong rallies and hopefully Bitcoin can

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<v Speaker 1>hit a new all time hind and it's gravitational pull

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<v Speaker 1>and all coins it pulls them with it and we

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<v Speaker 1>start to see more gains. So that's my outlook. Now

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<v Speaker 1>I don't have a crystal ball, so none of these

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<v Speaker 1>things are guaranteed, but we're using the data at least

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<v Speaker 1>the form our thiets well, using historical patterns to form

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<v Speaker 1>our thesis. So that's what we want to do, not

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<v Speaker 1>with our emotions. So folks, I'm not expecting anything major

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<v Speaker 1>in the immediate short term, but macro guys, I am

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<v Speaker 1>super bullish. I see the money printing on the horizon,

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<v Speaker 1>I see the lower rates. I see what's coming now.

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<v Speaker 1>I do want to give a word of caution. Some

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<v Speaker 1>people are saying, hey, I'm worried about this because historically

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<v Speaker 1>when the FED has cut rates, the markets have tanked. Well,

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<v Speaker 1>there's a couple of things that keep in mind. Could

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<v Speaker 1>we have already seen the tank or the crash back

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<v Speaker 1>in early August with the Japanese en trade. If you

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<v Speaker 1>look at the SMP of five one hundred, that's a

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<v Speaker 1>big pullback. Plus you had a pullback in early September.

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<v Speaker 1>So could that be the pricing in of the rate cut? Right,

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<v Speaker 1>That's something to keep in mind. And this is not

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<v Speaker 1>like two thousand and eight. We don't have a big

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<v Speaker 1>mortgage real estate bubble where there's fraudulent loans and all

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<v Speaker 1>kinds of nonsense. You guys know what took place there, right,

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<v Speaker 1>So we're nowhere near that. In fact, the housing market

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<v Speaker 1>is pretty much dead. People are not selling because they've

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<v Speaker 1>locked in low rates. So I say all these things

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<v Speaker 1>to paint the picture of let's look at facts and

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<v Speaker 1>form our thesis here. So I'm not expecting any type

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<v Speaker 1>of two thousand and eight two thousand and one crash.

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<v Speaker 1>And if you look at what took place in twenty

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<v Speaker 1>twenty March twenty twenty, you guys know what took place, right,

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<v Speaker 1>the markets crash, But what happened The Fed cut rates

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<v Speaker 1>immediately and started printing money. And if you look at

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<v Speaker 1>the v shape, it's incredible. That should have maybe took

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<v Speaker 1>us into depression levels, but it didn't. That was a

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<v Speaker 1>significant black Swan event, and he didn't. They bailed us out.

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<v Speaker 1>And we've seen Janet Yellen has been bailing out the

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<v Speaker 1>markets over the past few years. Look at what took

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<v Speaker 1>place with the banking collapses in early twenty twenty three.

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<v Speaker 1>Why didn't the collapse of SVB and those other banks

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<v Speaker 1>have a bigger impact on the market because the Fed

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<v Speaker 1>and Janet Yellen at the Treasury stepped in. She's been

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<v Speaker 1>doing a quantitatives, you know, stealth QI as some would

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<v Speaker 1>call it. So I'm not worried about some major crash

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<v Speaker 1>because we don't have any set up like two thousand

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<v Speaker 1>and eight, and what the Fed and Treasury are doing now.

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<v Speaker 1>They're going full money printing, right, full on money printing

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<v Speaker 1>that oh something broke, print more money in jecky liquidity.

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<v Speaker 1>That's what we're saying. I'm not saying it's right. I'm

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<v Speaker 1>just saying this is what the world we live in.

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<v Speaker 1>So those are the things I'm looking at. For those

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<v Speaker 1>who are saying, dude, this is bad, it means a

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<v Speaker 1>big crash is coming. I think your big crash took

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<v Speaker 1>place earlier in August. Look at the charts, Look at

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<v Speaker 1>the SMP. That was a pretty significant pullback. So look,

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<v Speaker 1>I could be wrong, but that's that's what I'm looking at,

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<v Speaker 1>you know, as far as historical patterns and what is

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<v Speaker 1>happening in the current day with the Treasury and the Fed.

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<v Speaker 1>All right, let's move ahead, folks. Today, Johnald Trump made

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<v Speaker 1>a surprise visit to pub Key. I don't know how

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<v Speaker 1>many of you know about it. It's a bar. They

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<v Speaker 1>have great burgers. I've been there a couple of times,

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<v Speaker 1>and they are a pro bitcoin, so you can go

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<v Speaker 1>there and buy burger and beer with bitcoin. He showed

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<v Speaker 1>up and he actually bought something with bitcoin. Now the video.

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<v Speaker 1>I'm not sure how many sided clips, but they were

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<v Speaker 1>having a little bit of an issues scanning the QR

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<v Speaker 1>code and doing some of the things. It was a

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<v Speaker 1>little bit cringe. But I think in the grand scheme,

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<v Speaker 1>this is so bullish for crypto. I mean, you got

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<v Speaker 1>a former president presidential candidate doing this, and once again,

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<v Speaker 1>you can hate Donald Trump or you can love him.

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<v Speaker 1>That's not the point I'm trying to bring home here.

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<v Speaker 1>I'm talking about adoption. I'm talking about crypto being ubiquitous.

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<v Speaker 1>It's everywhere pop culture and politics, in tradfi and everywhere. Guys.

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<v Speaker 1>That's the point. So pretty significant that Donald Trump did this.

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<v Speaker 1>I'm not going to play the video because it's just

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<v Speaker 1>Fox News showing them trying to figure out the QR

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<v Speaker 1>code and so forth. But the point is they did

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<v Speaker 1>eventually get it done and he paid in bitcoin. Significant move.

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<v Speaker 1>In fact, some folks like Anthony Pamplana were there and

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<v Speaker 1>so forth. They said this was a surprise thing, but

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<v Speaker 1>I guess some people knew about it. If I knew

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<v Speaker 1>he was going to be there, I would have shown up,

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<v Speaker 1>because I've attended events here at this bar and went

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<v Speaker 1>there for a couple of times. With some friends. So

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<v Speaker 1>pretty significant stuff. Now, speaking of bitcoin, the state of

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<v Speaker 1>Louisiana becomes the first in the nation to accept bitcoin

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<v Speaker 1>via the Lightning Network. The Louisiana Treasury probably announced the payment,

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<v Speaker 1>as well as their ability to accept bitcoin and USD

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<v Speaker 1>stable coins. Folks, we've crossed the chasm. It's incredible what's

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<v Speaker 1>taking place. I hope you see how bullish this news is. Now,

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<v Speaker 1>Blackrock continues their promotion of bitcoin and crypto while people

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<v Speaker 1>are scared, and there's a whole bunch of stuff going on.

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<v Speaker 1>Blackrock today put out a nine page white paper that

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<v Speaker 1>makes the case for bitcoin ETPs as a unique diversifier

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<v Speaker 1>that can hedge against fiscal, monetary, and geopolitical risk, and

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<v Speaker 1>also includes a section called Bitcoin's path to a one

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<v Speaker 1>trillion dollar market cap. And you can go read that

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<v Speaker 1>white paper, guys, you know what. I'll link to it

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<v Speaker 1>in the description so you can check it out. The

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<v Speaker 1>world's wealthiest asset manager is putting out a white paper

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<v Speaker 1>here on bitcoin and why you should invest in bitcoin, guys.

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<v Speaker 1>And if you look at this, they have a chart

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<v Speaker 1>analysis in here. It's amazing. I am so bullish. I

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<v Speaker 1>don't care what the hell happens tomorrow or early next week.

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<v Speaker 1>Oh no, the market's down now. I'm bullish long term guys. Now,

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<v Speaker 1>this content is brought to you by Vchain. Vchain is

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<v Speaker 1>one of the top layer one enterprise blockchains out in

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<v Speaker 1>the market. Many big companies are using vchain to build

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<v Speaker 1>Web three and decentralized app ecosystems. I'm a VET token holder,

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<v Speaker 1>I have been for many years. I'm very bullish on

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<v Speaker 1>this project. Some of the great benefits of the v

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<v Speaker 1>chain blockchain include it is secure, affordable, scalable, fast, and sustainable.

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<v Speaker 1>Some of the brands working with vchain include PwC, Sam's Club, Walmart, China,

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<v Speaker 1>BMW and they are also working with Boston Consulting Group.

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<v Speaker 1>So v chain is a project to pay attention to

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<v Speaker 1>their doing some great things. All right, Moving ahead, Europe's

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<v Speaker 1>third biggest stock exchange is exploring launching a bitcoin and

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<v Speaker 1>crypto exchange. Of course they are, of course they are.

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<v Speaker 1>Everybody wants to get a piece of this pie. No

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<v Speaker 1>one wants to get left behind. Game theory is playing

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<v Speaker 1>out here. You've got the largest financial institutions in the world, bank,

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<v Speaker 1>stock exchange, investment firms are all jumping in and the

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<v Speaker 1>on ramps are being built globally for both retail and

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<v Speaker 1>institutional capital. Here's some more bullish news. Google Cloud releases

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<v Speaker 1>an Ethereum compatible RPC service. So Google has been doing

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<v Speaker 1>a lot with crypto. They're part of the Hedera Governing Council.

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<v Speaker 1>They've been testing a lot with chain Link and etherorem

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<v Speaker 1>and so forth. So Google rolled out a blockchain Remote

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<v Speaker 1>Procedure call RPC to let developers access blockchain data through

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<v Speaker 1>API calls. It supports the theorem and its test networks,

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<v Speaker 1>with plans to expand to additional blockchains next week. Do

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<v Speaker 1>you see what's happening? The biggest tech companies in the

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<v Speaker 1>world are building with this technology, integrating it, launching services.

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<v Speaker 1>Just the other day I told you guys about Sony

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<v Speaker 1>and that electronic maker and tech company. They launched their

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<v Speaker 1>own blockchain called Sonium, and in fact they partner with

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<v Speaker 1>Circle to do some things with USDC recently, and they

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<v Speaker 1>are planning to launch a crypto exchange in Japan. This

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<v Speaker 1>is amazing stuff, folks. I am so bullish. Now we

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<v Speaker 1>got some big news here about bitco. You may recognize them.

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<v Speaker 1>They're one of my sponsors. So Bitco to enter the

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<v Speaker 1>stable coin market with reward bearing USDs coin. So it

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<v Speaker 1>seems like everybody is launching a stable coin these days.

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<v Speaker 1>So bitco says it's launching a stable coin in January

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<v Speaker 1>twenty twenty five, call USDs. This stable coin will provide

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<v Speaker 1>rewards to institutions which power its liquidity. So Bitco's one

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<v Speaker 1>of the top chier custodians in the market. They are

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<v Speaker 1>working with many big companies. They custody some of the

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<v Speaker 1>funds for ETFs, the ETF issuers, and bitgo works with exchanges,

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<v Speaker 1>hedge funds and so forth. So launching a stable coin

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<v Speaker 1>makes sense. I think we're going to see a lot

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<v Speaker 1>more stable coins come into the market. It just makes sense.

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<v Speaker 1>Now eventually that market will become saturated where eventually you know,

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<v Speaker 1>the winners are going to be clear and the losers

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<v Speaker 1>are going to end up getting acquired or go out

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<v Speaker 1>of business. That's just the nature of markets. We've seen

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<v Speaker 1>it many times over. But it's great that these folks

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<v Speaker 1>are building these solutions and stable coins are one of

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<v Speaker 1>the biggest use cases of blockchain and crypto folks, and

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<v Speaker 1>one of the great things is they add utility to

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<v Speaker 1>different blockchains. You look at USDC. It's available in so

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<v Speaker 1>many blockchains right, it's not specific to one chain, so

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<v Speaker 1>that's a great thing and helps these different chains to

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<v Speaker 1>grow as well and adds more liquidity to them. Now

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<v Speaker 1>here's another stable coin that's coming. Many of you may

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<v Speaker 1>have heard of that app. I think they're more UK based.

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<v Speaker 1>They're going to launch their own stable coin. So, like

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<v Speaker 1>I said, the stable coin market is heating up. It's

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<v Speaker 1>almost stable coin wars now, it's all out of competition.

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<v Speaker 1>I just interviewed the other day Robin who It's crypto

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<v Speaker 1>general manager, and I asked them, I said, hey, are

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<v Speaker 1>you guys planning to launch a stable coin? Robinhood has

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<v Speaker 1>a huge customer base. They're expanding to Europe, so it

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<v Speaker 1>would be pretty beneficial to them to do that. But he,

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<v Speaker 1>of course can't answer that question. So I expect, you know,

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<v Speaker 1>almost everybody to do this. It absolutely makes sense because

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<v Speaker 1>you can make money up the stable coin, you can

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<v Speaker 1>increase settlement within your own customer base and network, so

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<v Speaker 1>it absolutely makes sense. Now, guys, today was the big

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<v Speaker 1>SEC hearing where it didn't include the SEC folks, right,

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<v Speaker 1>but it was called the let me pull it up

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<v Speaker 1>here days then confuse breaking down the SEC's politicized approach

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<v Speaker 1>to digital assets. So, of course the SEC coming under

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<v Speaker 1>major criticism here. You had a bunch of industry folks

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<v Speaker 1>who showed up and were highlighting how hard it has

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<v Speaker 1>been to run a crypto business under this administration. And

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<v Speaker 1>you know, we've covered it time and time again, all

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<v Speaker 1>the wells noses, all the lawsuits. But I think what's

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<v Speaker 1>important here the major takeaway, and it's significant because of

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<v Speaker 1>who it came from, and that is Dan Gallagher. He's

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<v Speaker 1>the chief legal officer and corporate affairs officer at Robin Hoods.

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<v Speaker 1>And Dan used to work at the SEC. So this

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<v Speaker 1>is where his comments carry a lot of weight, right,

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<v Speaker 1>you got to x SEC officially he works for robinhood

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<v Speaker 1>and so forth. Here's what he said. We heard Cherry A.

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<v Speaker 1>Ganser's call to come in and register Laddin. Clearitce at Gallagher,

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<v Speaker 1>who was previously a Republican commissioner at the SEC. Admittedly

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<v Speaker 1>I scratched my head a bit because there was no

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<v Speaker 1>established regime, at least published regime, But being seasoned securities lawyers,

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<v Speaker 1>we thought we'll just roll up our sleeves and he

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<v Speaker 1>talked about how it's been difficult, and the SEC has

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<v Speaker 1>just been tough to work. And you know, there was

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<v Speaker 1>the naysayers out there, you know, the Warren Nights, the

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<v Speaker 1>Elizabeth Warren cronies who were trying to push back. But

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<v Speaker 1>this was an important hearing because it sets the table

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<v Speaker 1>for the big hearings coming next week, one with Genser

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<v Speaker 1>himself by himself, I should say, and then the next

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<v Speaker 1>one where Ginser with the other four commissioners at the agency.

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<v Speaker 1>That one is going to be interesting. So it's great

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<v Speaker 1>that the table is being set here because what this

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<v Speaker 1>also does. I know some of you may say, oh,

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<v Speaker 1>they're just talking all these letters. It's actually helping to

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<v Speaker 1>bring awareness to the problems with the SEC because there

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<v Speaker 1>are still a lot of people in Congress who are naysayers,

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<v Speaker 1>who are not educated, right, that's a common issue. Put

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<v Speaker 1>the naysayers aside. There's a lot of people who don't

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<v Speaker 1>know much about what's happening. They just think, oh, whatever,

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<v Speaker 1>I'll follow Elizabeth Warren. But what I've heard from people

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<v Speaker 1>in DC, the more advocacy, the more education work we do,

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<v Speaker 1>and we can get a lot of these people to

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<v Speaker 1>leave Elizabeth Warren's anti crypto army. Remember that Republican member

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<v Speaker 1>of Congress. I forgot his name. He was a senator.

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<v Speaker 1>He was backing Elizabeth Warren. He was co signing Elizabeth

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<v Speaker 1>Warren's de facto Crypto band bill. He backed out. He

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<v Speaker 1>backed out. So that's what we want, right We want

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<v Speaker 1>to pull these people away from Elizabeth Warren, who she

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<v Speaker 1>lied to and so forth. And we're seeing some of that.

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<v Speaker 1>So this is why these hearings, these letters are important,

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<v Speaker 1>even though there's no immediate tangible response to it. It's

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<v Speaker 1>a snowball effect. It's slowly building, and we're building momentum

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<v Speaker 1>here and stealing people away from Elizabeth Warren. Part of

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<v Speaker 1>that process is Crypto is spending a lot of money,

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<v Speaker 1>as I've been telling you guys in the election here,

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<v Speaker 1>Eleanor Tarrod says, Crypto Advocacy Group mobilizes one hundred thousand

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<v Speaker 1>voters as election day nears. Stand with Crypto will celebrate

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<v Speaker 1>its Stand with Crypto day tonight in DC. So that's

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<v Speaker 1>happening right now, with appearances from Brian Armstrong, while he Nickel,

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<v Speaker 1>Patrick McHenry, and the Chainsmoker. So we're seeing events like

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<v Speaker 1>this which are important getting voters out and don't get

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<v Speaker 1>me wrong. Crypto has been spending and supporting pro crypto

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<v Speaker 1>candidates on the Democrat and Republican side, So we're making progress, guys.

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<v Speaker 1>I'm optimistic. We've come so far. I mean, just last

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<v Speaker 1>week we had a hearing on DeFi and the first

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<v Speaker 1>ever and that was surprising to me. Getting the fit

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<v Speaker 1>twenty one bill path of the House earlier this year

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<v Speaker 1>was surprising. So I think next year we're going to

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<v Speaker 1>see a lot more progress. And we've come so far,

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<v Speaker 1>so I'm very bullish. The macro is setting up, the

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<v Speaker 1>legislation side is setting up. Big things happening here, folks.

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<v Speaker 1>Let me know what you think. Leave your thoughts and

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<v Speaker 1>comments below. Be sure to sign up for my free

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<v Speaker 1>email news that are on Substack. It's one hundred percent free.

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<v Speaker 1>And don't forget to grab a copy of my book,

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<v Speaker 1>Rethinking Crypto on Amazon. It's available in paperback and digital.

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<v Speaker 1>Grab a copy to support the podcast, Grab a few

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<v Speaker 1>copies for your friends and family who want to learn

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<v Speaker 1>about crypto, and if you bought a copy already, please

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<v Speaker 1>leave a rating and review. It will really help me

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<v Speaker 1>out there. Thank you so much. I appreciate you all,

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<v Speaker 1>and I'll talk to you all later,