Sixteen there were up to they crash them back to like forty percent in our negative. Looks like the memes stocks. A little bit it does i just. Don't he told someone back. Then this is going to happen. They wouldn't have believed that seems to be the markets and a lot of ways like things that have never happened happened all the time but i would have expected the us to have negative interest rates before greece correct. I can't talk to the dynamics. Of how the hell this happens. I don't know what's going on here. I guess i don't either but it's surprising. Okay cuban missile crisis last week. We talked about mark cuban being open and honest about his experience with defy. You gotta give this guy credit. And maybe you still do. Because he was open and honest about it but apparently him talking about some of these. Small crypto products. These defy tokens that he's funding. Caused this one defy token to go to sixty dollars a token which was like two billion dollars in value from nothing. He was like the guy who he basically funded this thing. It was just him. He's doing some weird paris trade. I still don't quite get this. It works but it went from like five dollars to sixty in a week and then from sixty two zero in about a day so mark. Cuban basically got rex bloomberg did a series of articles on this cuban wrote into kind of defend himself or ask for more regulation here. I guess there's a few puffs in it's a tough thing. I guess good for him. For being. Otherwise between this and them canny donnie nelson junior in a tough week those tough i mean it's a good reminder though that you few weeks go talk about like how do you learn about this stuff and people say well you just learn by doing guess. What sometimes learning by doing these you get wrecked and i guess that's a good reminder that anyone even a lot of money can get wrecked in trades but especially in this kind of stuff. This defy stuff where you're being liquidity provider. Let's also context. This is not like our k goes. I'm gonna guess he lost a few hundred grand. I think he said he put seventy five thousand. Yeah for him as a drop in. The bucket is nothing. It's probably a much bigger. Hit his ego than it is to his pocketbook that he said i'm funding this and to his credit. He said he was learning. He gave statement. I think he changes the two days before he's talking about the banking industry should be shaking his boots and then two days later. He's saying actually we need more. Regulation here. pervert. Here's a new book. Question about this defy stuff. Do prices have to be ever-rising for this stuff to work. I don't think so you don't because doesn't it seem like if we have one of these crashes like this doesn't just work like a bank run in the early nineteen hundreds where you need a job. Morgan guided bail out. The system. in crypto doesn't really have that like i dunno. I don't question well. I mean listen. I'm completely making this up. I have no idea. But when crypto crashed in twenty twenty blocksize interest did not go down. So i mean that is not predicated on high-rising. It's not defy. The defy stuff. I'm talking about is where you have. These people sticking their tokens for the quickey. And they're providing it in value. Their tokens are going down and the token stuff their. I don't know it just seems to me like true. I guess blocked his trad. Fai kind of for crypto but yeah. I don't know just throwing it out there well. Meanwhile we spoke about the email that this guy with the coin base. he felt victim to phishing scams. So let's not necessarily on coin based but it's kinda weird that there's no customer service not tweeted about this that he's trying to get a hold of them and good luck. Yeah dave said he's been locked out of coin base for four days. He's got no response to emails. No phone number you can call no ability to interact with anyone in any way he said at least schwab as a phone number and obviously the regular finance companies aren't always the greatest when it comes to customer service but a lot of them dooley's have a one eight hundred number. It's not always the greatest. You could be waiting for a while. But i think that is a hole in a lot of these fintech platforms. That a lot of them just have completely just done away with customer service. It's not even really an option except for help out. Whatever email in especially when problems to mount. I think this is a problem for a lot of these places especially for coin. Wanting to be a platform that is more mainstream. I think that this is the kind thing that they like. That was always my thing with vanguard that that was going to be one of their biggest potential risks as they got so huge is that their customer service just suffered because of it so i think that's a huge problem for them. It is interesting. I was looking today. Actually from their high in the first day of the ipo coin base is down fifty percent. Bitcoin is also down fifty percent from that day. Remember we talked the day of the coin base. Ipo we did a video on youtube and we said isn't going to be the case that when bitcoin goes crazy involved whole coin is actually going to do better because thou tilt is good for them in exchange or what is the correlation between based bitcoin. Hey we ever answer and no why not to sir. They're both down fifty percent from the day. Coincidence this exact incidence house at a coincidence. Okay all right. You're doing the correlation causation. Thing with me. I usually don't pull that card usually. i'm all about the correlation causation. I'm just. I think this one's going to be a little more correlated. Even i kind of bought into the idea that they're an exchange and it shouldn't matter them. There's volatility i think there's gonna be some correlation here where coins doing good coin basis doing good and vice versa. Also this listen if bitcoin balances coin base while they were both oversold of the groundwork. Now we talked about inflation. All there's a piece in york times by mike konczal in j w mason and their economies and they looked at listen every time. There's a boom. Why do we always have to look at ways of slowing it down. And their whole thing was after the war the best thing we did is like they managed the boom. They didn't try to fight it. It's almost like i guess since the nineties we haven't really had a boom to speak of that didn't get completely out of control so i guess the point was there saying that like after world war two. You had this supply problem. You had this huge uptick in demand but it was met with this huge in production and supply and maybe instead of trying to like slow this thing down rates too early to slow things down. Why don't we try to invest in the infrastructure of getting that supply chain back on board and actually like leading this thing run a little bit instead of trying to cut it off before it gets too crazy like managed good economic outcome and let it run for a little while. Shouldn't we root for the economy to heat up after years of two percent. Nominal gdp growth. Yeah that's the point. Can we do a little better. And i wonder back to our inflation expectations thing about people in certain age groups. You wonder if just a lot the people who are policymakers. Now who are a little older woman. Been around for a while. That's what they've grown up with. You shut off the spigot you take the punch bowl of whatever that's what they are accustomed to. That's their only thing in their playbook that they go to. I don't know this is a good line. Speaking of that so colin kept emailing us to listen to this mark. Cuban collins an email. Or listen i should say it. Listen to this. Barry weiss interview with mark..