35 Burst results for "$5 Trillion"
A highlight from 1448: One Bitcoin Will Reach $1,000,000,000 By This Date - Fidelity
"In today's show, Bitcoin price gets $36 ,000 FOMC target as Bitcoin prints a 29%. October gains as we enter Moonvember. Send it and let's go. Also in today's show, quitting Max Keiser, Bitcoin is up over 100 % since my interview with Daniella Cambone nine months ago. Gold unchanged. I wish I could sugarcoat the truth, but the harsh truth is Bitcoin is demonetizing gold. For every $1 move up in gold, we'll average a $20 move in Bitcoin per each. Also in today's show, that's fraud, says prosecutors and closing arguments at the Sam Bankman -freed trial. I'll be sharing the latest updates with you here. Also Coinbase launches a regulated crypto future service for US retail traders. That's right. Also PayPal scores UK crypto license after a brief local Bitcoin buy halt. I'm also going to be sharing with you Invesco Galaxy's Spot Bitcoin ETF joins BlackRock officially on the DTCC site. And speaking of Spot Bitcoin ETFs, Fidelity revives their Bitcoin ETF app. I'll be breaking this down for you. Also, they recently published a report explaining 10 reasons why you should consider buying Bitcoin. This is a pretty big deal considering it's a $4 .5 trillion asset manager with 43 million investors trusting Fidelity. I'll also be sharing their $1 billion Bitcoin price prediction. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
A highlight from How To BEAT Institutions In The Upcoming Bitcoin Bullrun!
"We are in the beginning stages of what's going to be the biggest bull market for crypto. This bull market is going to be different and I know you've heard that many many many times but this time it is going to be different. Let me tell you that I've been in crypto since 2015 and since 2015 we've been waiting for one single event. We've been waiting for the institutions to come into crypto and guess what? Today we're just days away, literally days away from the first Bitcoin ETF actually being launched and for the first time in Bitcoin's history what we're seeing is we're seeing big institutions actually start promoting Bitcoin, talking about Bitcoin, targeting Bitcoin. No doubt that you've seen Larry Fink, the head of the biggest asset management company in the world, the biggest investor in the world actually say that crypto is a safe haven. Way the beyond rumor, I think the rally today is about a flight to quality with all the issues around the Israeli war now, global terrorism and I think there's more people running into a flight to quality whether that is in treasuries, gold or crypto depending on how you think about it and I believe crypto will... Let me tell you that never in my wildest dreams, having been here since 2015, did I ever think that Larry Fink, the head of the biggest investment company in the world, the company that manages over $10 trillion in asset would tout crypto, Bitcoin as a safe haven asset. So if you need more convincing that this institutional, this bull run is going to be different, think again because this is going to be the institutional bull run that we've all been waiting for. Now it's a good thing and it's a bad thing. On the good side, we're going to get billions and maybe even trillions of dollars flowing into crypto. This is that bull run, it is that bull run that we've been waiting for since 2015 and now it's here because the Bitcoin ETF removes all the barriers for institutions to put their money into crypto and these institutions that are managing a trillion, 10 trillion, 5 trillion are now going to start coming in and start bringing their trillions of dollars and maybe even put 1 or 2 % of their money into this asset class. Just 1 or 2 % of their money is enough to drive Bitcoin up to 70, 80, 90, $100 ,000. That's a good thing. We're going to get a whole lot of money into crypto. But as a retail investor, there's also a bad thing and I'll tell you what the bad thing is. As a retail investor, you're going to be trading against the institutions. Up until now, we've been here in crypto and we've been playing in a small and an illiquid market that is easy to move up and down with very small amounts of money. But that's all about to change. We're getting a new player in the market. This player is coming with a lot of money, but they're also coming with a lot of tools and they're coming with the smartest people in the world. So if you think that in the next bull run, you can make money just like you made in the last bull run, think again. You're trading against a new enemy. This enemy is smart, this enemy is rich, this enemy is sophisticated, this enemy is using tools and ammunition that you don't even know how to use. So if you think that you can go in there with your retail mindset and your retail mentality and trade against the institutions using, I don't know, your spot exchanges and your derivatives and stuff like that. Think again, a new bull market with a new bringer of money who has tools requires us to arm ourselves with much better tools in trading. And that's what I want to do today. I want to spend some time talking about a new tool that you can use to get great exposure, that you can make great money and that institutions have been have been using for a long time. And that tool is options. Options is a tool that that institutions use all the time to make money, to hedge themselves, to speculate and to get exposure to asset classes. It's one of the easiest asset classes to make money with. But you've got to know what you're doing. And I think given that the institutional bull run is coming right now, it's time for us to learn how to trade these options. And I've got something amazing for you today. So listen, let's get this show on the road. We've got a lot to do today. Today is the day that we arm ourselves with a new tool that's going to be the most valuable tool that we can have in our arsenal when we're going up against the institutions. Let's go, guys.
A highlight from Tokenized Assets Explosive Growth | Circle $USDC Web3 Platform Launches
"All right, so you guys don't want to miss this one, we're going to be breaking down tokenization of digital assets, but also securities, how this plays into the bigger market architecture that essentially is being built right now. And it's kind of what's happening behind the scenes. You guys don't want to miss this. We're going to break it down for you. My name is Paul Baron. Welcome back into Tech Path. This was a report that really got into the state of tokenization. If you think about the state of tokenization and what it means to business, what it means to economies, what we're about to see in blockchain is pretty dynamic. We're going to show you some clips today that will probably blow your mind. I mean, if you've been in business, if you've been involved in organizations, you're going to see some pretty cool stuff here today. Just to give you a kind of a table of contents here, tokenized assets, venues, demos, they did a full report here. I want to jump over to the first section here, which really is talking about the capacity of size. And a couple of things that they highlight here in the total assets is that right now we're talking about 6 million daily active users, settlement of like super fast, around half a second. And right now, 58 % of this all in Ethereum accounts, over 58%, which is about $69 billion. Further on down in the, what they call the 2030 opportunity, let me zoom in on that just a little bit here. You're going to see a couple of note numbers here. You're going to see the $3 .5 trillion number. This is the potential market addressable that is out there, but that's the bear market and up to $10 trillion in the bull case by 2030. All of this happening by 2030. Further in this report, if you guys are following this, this is on page 8 of this report. This starts breaking down some of the blockchains. Obviously you see Solana and Avalanche there. And the cool thing that you're going to start paying attention to is exactly what's happening in terms of the amount of interoperability that we'll talk about in a second, but also just how much Ethereum is playing a role in this. Further into this, I just want to show the blockchains that are available. So you see Circle right there at number two. The reason at $24 billion on AUM, but right now, Ethereum and then, that doesn't work too well, but Ethereum and 14 blockchains, let me kind of zoom in on that a little bit so you can kind of see what I'm talking about. And 14 blockchains that are integrated into this. Now that to me is one of the reasons we're going to continue to see Circle, USDC, win the case going forward, because the future of blockchain and tokenized assets is who can bring the tool sets to the table to make it really easy to use. Now I'll show you what that might look like. You can kind of see the tokenized users there starting to grow. This is going back to August 2020, or April 2020, hard to read on that chart. But the point is, is that this isn't up and to the right growth. Now, when you look at the pivotal moment for crypto adoption, this is really where we are right now, is this whole crash point that we are dealing with today. And then what could happen on the other side of this is what they call a recomposition of the market. And that is because people have been building so much in this bear market. We're going to start to see applications and really the use of those applications starting to roll out into real business and become mature. Once they become mature, that's when, it's like e -commerce. Think about when e -commerce was first starting, first time you ever used a Reddit card on the internet. It's like that. You were very skeptical then all at once, bam, it's available everywhere. That's exactly what we will probably see here going forward. I want to go to this first, actually, let me go over to this last slide right here. This is the size of the market again, multi -trillion dollar market. Let me kind of zoom in on that a little bit, 3 .5 trillion right now in the bear, the base case 6 .8 trillion and then 9 .9 trillion by 2030 on the bull case. So you can see this really started to really take a huge, huge growth in the potential. And remember, this is a very, very small percentage of the market. That's the other scenario that plays out. When I look at adoption, like we saw in social, mobile, all the tech models that we've seen over the past two, three decades, I don't think this is going to be any different and that is tokenization of digital assets in general, but also the use case of smart contracts and blockchain. Now I know to some of you, maybe you're coming to our channel for the first time, step back, take a deep breath, subscribe right now. If you are in business today or if you're looking at investing in things like this technology, you want to stick around on this channel because we break down a lot of these kind of things that will give you guys some insights going forward. All right, tokenized treasuries, you can kind of see the value continuing to grow right here. Obviously, when you go to just the rwa .xyz, this will kind of give you a site that you can track this on an ongoing basis along with the yield right now to maturity that's available. Again, Ethereum holding at around 370 million, so over half of what we have currently in tokenized treasuries. This is, again, going to be another area where we're going to see just absolute explosion. I want to jump to this first clip of Jeremy Allaire, who is the CEO over at Circle, which is of course USDC, is the stablecoin, if you're brand new, a stablecoin that essentially is pegged to the US dollar and how it's going to be integrated into society. Listen in. We have decisively entered the utility value phase of blockchains and digital currency. This will scale to billions of people and millions of businesses and trillions of dollars of economic activity in the coming years. We have many companies in here, both very large companies and startups that are tokenizing real world assets, treasury bills, digital funds and other things.
A highlight from Weekly News Block: Will U.S. Help Fund Another War? Billionaire Likes Bitcoin, Fidelity's New Pro-Bitcoin Report, BlackRock Spot BTC ETF False Alarm, SBF Ex-GF Caroline Ellison Testifies
"Welcome to the CoinStories news block. I'm Natalie Brunell. And in the span of just 10 minutes, roughly the same time it takes to mine a new Bitcoin block, I'll provide you with concise, insightful updates on Bitcoin and the global financial landscape so you're well informed on the week's top stories. Everything you need to know in one place in one block. Let's go. We start this week with US Treasury Secretary Janet Yellen, who says the United States can certainly afford two wars. In an interview with 60 Minutes, Yellen said she believes there's more than enough money to support both Ukraine and Israel, saying it's only a matter of finding the funding. Yellen said this, quote, we do need to come up with the funds both for Israel and for Ukraine. This is a priority. It's really up to the House to find a speaker and to put us in a position where legislation can be passed. Okay, so Yellen thinks the US can afford to spend billions more dollars to help fund another foreign war despite the fact that inflation remains too high and debt levels are exploding. If you're wondering where would this money come from, or how can they afford this exactly, then you're asking the right questions. Put simply, the answer is the money will get printed and added to the growing mountain of debt. This is the big problem with fiat money. When money can be printed at no cost, it becomes easy for the government to fund wars. Author Seifedina Moos of the Bitcoin Standard often talks about how fiat makes war affordable. On a gold standard, governments typically could only afford wars until the gold ran out. There was an economic constraint to how long governments could fight without taxing their constituents. But in the fiat world, no constraint exists and wars can be funded seemingly endlessly. So we appear to be witnessing this playing out right before our eyes today. This is likely why Yellen believes there's no war the US can't afford. She leaves many of us asking, is she looking at the same economy as the rest of us Americans? The fiscal deficit in 2023 is coming out to $1 .7 trillion, nearly $300 billion more than the previous year. This spending binge comes as US public debt has soared to more than $33 .5 trillion. And for those keeping track, that's a $2 trillion increase in just the last four months. The US has already sent more than $75 billion in assistance to Ukraine since that war began last year. And to put that in perspective, that's the equivalent of nearly one seventh of Bitcoin's market cap, or over double the annual budget of NASA. And yet the Treasury Secretary is on national television saying that the US can afford to fund yet another war. The uncertainty around the war in the Middle East combined with the US's precarious fiscal situation is starting to catch the attention of prominent investors. Billionaire hedge fund manager Paul Tudor Jones was on CNBC last week and said this, quote, Since I've been born, it might be the most threatening and challenging geopolitical environment I've ever seen. At the same time, the United States is probably in its weakest fiscal position since certainly World War Two, with debt to GDP at 122%. He went on to explain how more spending just compounds the US's debt problem, saying you get in this vicious circle where higher interest rates cause higher funding costs, which cause higher debt issuance, which causes further bond liquidation, which causes higher interest rates, which puts us in an untenable fiscal position. Bitcoiners are familiar with this as the so -called debt spiral. Even though elected officials are publicly claiming they're not worried about the government's budget, highly intelligent individuals like Paul Tudor Jones see the writing on the wall when it comes to our fiscal situation. Now, when asked how he is playing this challenging market, Paul Tudor Jones said, It's hard to like stocks. I like Bitcoin and I like gold. Another institution that appears very fond of Bitcoin is Fidelity, the third largest asset management firm in the world. Fidelity published a new report this month titled Bitcoin First Revisited, where it explored why Bitcoin is a superior form of money and why it should be evaluated differently from other cryptocurrencies. Here's a favorite excerpt of mine from the report.
A highlight from Saylor: Bitcoin is SUPERIOR Money Explained by Fidelity | EP 844
"It's all going to zero against Bitcoin. It's going up forever, Ron. Bitcoin! You're against Bitcoin, you're against freedom. Yo, welcome to another episode of Simply Bitcoin Live. We are your number one source for the peaceful Bitcoin revolution. We cover breaking news, culture, and medic warfare. We will be your guide through the separation of money and state. Crazy news, Opti started covering this yesterday, and I wanted to cover it again because it is massive, massive news. So Fidelity wrote a report, and the name of the report was Bitcoin First Revisited. This is something that they've talked about in the past, but again, this is one of the largest asset managers in the world. They have $4 .5 trillion under management, and they're saying the quiet part are allowed. In fact, they are siding with Bitcoiners. They're saying what Bitcoiners have been saying, have been screaming from the rooftops for a while now, that Bitcoin is not crypto. Bitcoin is different than crypto. We've covered the reasons why Bitcoin is the only thing that is truly decentralized. There is no bureaucratic elite that could change the rules of the game to benefit themselves. There is no senior age. When Satoshi Nakamoto created Bitcoin, he or she or they had no expectation that Bitcoin was going to have any value. So it was this sort of virgin birth, this virgin conception, right? It was this experiment, and for the first couple of years, it really, truly had no value until that infamous, I call it infamous because I feel bad for the guy that did the transaction. But you know, the first recorded Bitcoin transaction where this person traded 10 ,000 Bitcoin for, I think it was two Papa John's pizzas, right? So, you know, every single cryptocurrency that has come since then, the founders, the creators knew that it was going to have value. So what tends to happen, what has happened is whether it's Ethereum, XRP, the original creators, they've kept the vast majority of the supply to themselves. So they've really used those projects to enrich themselves. And that's in stark contrast to Bitcoin. Satoshi disappeared. That was one of the most important things Satoshi has ever done is, you know, he created this, he created or discovered, depending on how you look at it, this amazing freedom technology, freedom enabling technology. And he disappeared. No one's ever heard from him again. And I think that's a good thing. I think that adds to the mythology of Bitcoin. And I think it's really important for it to have this type of story, because I think that once you put a human being behind it. I think it kind of takes away from the allure in a way, right? You know, Satoshi Nakamoto has become this like mythological figure, so to speak. Right. It kind of almost reminds me of, you know, because there was no video back then, but I guess this is the closest comparison. The founding fathers of the U .S., right, we all know of George Washington, you know, George Washington, this George Washington, that there's no videos of the guy. Right. You can read what he said, but you don't really know. Right. And there's not even there's there's actually there isn't even a photograph because there wasn't cameras back then. So it's all kind of oil paintings. So it kind of created this like I don't want to say mythological figure, but it kind of is right. Do people really know who the true George Washington was? And again, George Washington, like Satoshi, in a way, did something extremely important.
A highlight from 1427: One Bitcoin Will Reach $1 Billion - Fidelity
"In today's show, I'm going to be breaking down the latest technical analysis as Bitcoin dominance hits a three month high as hammered altcoins risk a dive and check it out. Ninety four point eight percent of the Bitcoin supply has not moved in the past month, which is a new all time high and quoting Max Kaiser, the high priest, the Bitcoin, when killing becomes more profitable to financiers than living, expect more killing until the value of human life rises to the point above the profit bankers make killing. And additionally, there are no ideologies, religions, ethics, morals or justifications for any violence in this pure fiat money valueless world we live in. There are only terrorists, thieves and money printers on all sides. Max also says that since 2009, all state violence by all states is caused by people who are too lazy to spend a few hours studying Bitcoin per each. Now, check this out. The Bitcoin price rally. Is it in doubt? I'll be breaking down the latest Bitcoin on chain data as well. And breaking news just in. Ex -girlfriend Caroline Ellison, says the FTX founder Sam Bankman Free directed her to commit those crimes. That's right. She just testified against SBF. I'll be breaking this down for you, as well as the judge siding with Ripple again, denying the SEC appeal. I'll be breaking this down as well as Ethereum Foundation is under attack, selling 1700 Ethereum costs them this much. And as I tweeted, Satoshi never moved a single Bitcoin of his 1 .1 million BTC stash. Meanwhile, Ethereum co -founders and the ETH Foundation continuing dumping vast amounts of ETH, which, by the way, has an infinite max supply, according to CoinMarketCap. I'm also going to be sharing with you Fidelity, the second largest asset manager in the world that controls 4 .5 trillion in assets under management, has over 43 million investors. They just published a new report explaining why investors should buy Bitcoin. I'm also going to be sharing with you their $1 billion Bitcoin price prediction by the year 2038. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
A highlight from U.S. Speaker of the House is a Bitcoiner?! | EP 842
"It's all going to zero against Bitcoin, it's going up forever, Bitcoin, you're against Bitcoin, you're against freedom Yo, welcome to Simply Bitcoin Live, here you're number one source for the peaceful Bitcoin revolution, cover breaking news, cultural andmatic warfare, we will be your guide through the separation of money and state. Interesting news, actually this happened last week when Kevin McCarthy, first time in American history, a speaker of the US House of Representatives was ousted, essentially, it was voted out, and the intern speaker, Patrick McHenry, he is extremely, to say the least, pro -Bitcoin, now they're still figuring it out who's going to be the next speaker, but it looks like someone in line for the potential to be the next speaker of the House of Representatives is someone named Tom Emmer, Tom Emmer was the guy who, when we played you the clip of Gary Gensler getting absolutely grilled, that was Tom Emmer, he is extremely pro -Bitcoin, to say the least, he is extremely anti -CBDC, to say the least, so overall, this is, you know, this is very interesting, now, that's not to say that the next speaker of the House is going to be pro -Bitcoin, it looks like it's going to be Steve Scalise, but it's another indication of where things are going, where the momentum is going, if I would have told you five years ago what is happening today, you would not have believed me, if I would have told you ten years ago that the price of Bitcoin would be at 27 ,397, you would not believe me, if I told you five or ten years ago that Bitcoin was made a legal tender of a nation state, you would have not believed me, if I told you five years ago that Tesla and MicroStrategy, two public companies are holding Bitcoin on their balance sheet, you would not have believed me, if I told you that two people running for the US presidency in second place in their parties, RFK Jr., well he just dropped out, he's running as the Democratic presidential candidacy, and also we have Ron DeSantis, and not to mention Vivek Ramaswamy, who have both gone out staunchly against CBDCs, extremely pro -Bitcoin, and Ron DeSantis, using his power as the governor of Florida, actually passed a law in Florida that would, it would make it illegal for CBDCs to roll out in Florida, so in terms of moving the Overton window, in terms of things moving the way they are moving, we are definitely headed in the right direction, and this kind of reinforces a theory that we've been laying out on Simply Bitcoin over the last couple of months, I truly believe that in five years it is going to become politically unviable for any candidate to stand against Bitcoin, too many people, too many people in the population is going to be holding Bitcoin, too many people are going to be taking self -custody of Bitcoin, so really, for the unproductive class, for the monetary demons, it is a race against time, because they truly do have to roll out these CBDCs very very very quickly, and most importantly, convince people not to use the alternative, and the alternative is Bitcoin, but they're going to have an uphill battle, because they're going to have to convince people to not only use the money that could potentially censor them, you know, like what happened during the Canadian truckers protest, but they are also going to have to convince people to use the money that decreases in purchasing power, now that is the point that we have to emphasize, we have to keep pressing that point, because it is an indefensible point for them, they bury their head in the sand, they pull an ostrich every time that is even brought up, so their strategy right now is just ignoring the benefits of Bitcoin, ignoring the fact that a money can exist that doesn't decrease in purchasing power, because if they acknowledge it, the cat's out of the bag, that's game over to the deficit spending, that's game over to the 1 .5 trillion that the US government spends every single year more than it collects in tax revenue, and then people are going to start asking the question, wait a second, how are you able to spend more money than you have, and then that inevitably leads you to, oh, it's because you guys have a money printer, oh, is that why I'm getting poorer, ah, this is all starting to make sense now, right, so they don't want that to happen, that's why you see the propaganda coming out of the IMF, they released this high production value video which we played you guys last week when we were in LA, they blamed everything and anything, but the money printer, you know, for the cause of inflation, they blamed the pandemic, they blamed the wars, they blamed Russia, they blamed workers asking for money, anything that you can think of they blamed, but themselves, they are the sole cause of your money, the dollar, or whatever fiat currency you use in your country, the government is solely responsible for that money losing value, why is it losing value, because they're debasing it, they're printing more of it, but they don't want you to know that, they want you to stay uninformed, and they benefited tremendously from having this monopoly, this control of the narrative, remember Naeem Bukhale's article, don't drink the elites kool -aid, he says that their most important weapon is their control over the truth, use the internet, the internet has empowered you, the individual, to get the truth out there, make memes, talk to your uncles, talk to your family, talk to your friends who are still asleep, wake them up to the reality that hey, it's not left versus right causing all these political divisions and economic hardships, it is literally because the money is broken, you fix the money, you fix the world, but these are very very exciting times, holy cow, I know he's an interim speaker, Opti, I know he's not, technically he is the speaker of the house, and technically the speaker of the house right now is a Bitcoiner, he loves Bitcoin, but you know, he wasn't elected, he's just a temporary speaker, but hey, you know, some small steps at a time, some small steps at a time, and I think we're definitely headed in the right direction, we have a non -zero chance that we have a Bitcoiner in the but still man, can you imagine 5 -10 years from now, it's gonna seem undeniable, oh this was obvious, this was always gonna happen.
A highlight from ROLLUP: SBF Trial Underway | ETH ETFs Are Here | Ripple Wins Again
"He said you have to understand that when it went in there, it was a rounding error. That I felt like we had infinity dollars in there and that I wasn't even thinking about it. That, I think, is very revealing. That is how SPF treated FTX. I have infinite money. And I was like, where did I put that $5 trillion? Is it under my desk? And the reason why they had to send it to Alameda is because they knew FTX could not get bank accounts. It's not like, oopsies, we don't have bank accounts to send it to Alameda. Like, it's their biggest problem. Bankless Nation, it is the first Friday of Uptober, I mean, October. David, what time is it? Oh, it's time for the Bankless Friday Weekly Rollup, Ryan, where we cover the entire weekly news in crypto, which is always an ambitious endeavor, especially this week. It's one of those weeks, yet we persevere into the frontier nonetheless. How are you? David, are you team Uptober? You think it's going to be up month, down month? What do you think? I'm not ready to be hurt again, so I have no strong opinions. You've been hurt? You've been hurt too many Octobers previous? Not just like, there's so many reasons to be bullish. And if I keep on saying like, look at all these reasons to be bullish, and then we get like $1 ,200 Ether, I'm going to be like, it did it to me again. It's that time in the market. But OK, but let's contrast this with October last year. All right. So October last year, it was just before the fall of SPF. Yeah, right. We were watching. And we got through an absolutely grueling summer, where we had like the collapse of Terra, Luna. We had three hours capital liquidation. We had triple digit ETH. It was an absolute grueling summer 2022. And here we are in October, and we're getting ready to take a breath and be like, oh, man, that was crazy. We're on the other side of that. And yeah, I'm so glad all of that's over. Like we're good, right? It's like that wasn't so bad. Like we're good. We're good. We made it. And then what happened? Meanwhile, CZ and SPF are just duking it out on Twitter. Yeah. That was a year ago. That was a year ago. But we got some SPF news. Now, one year later, what's happening with SPF this week? The SPF trial has begun. It began on Tuesday. So there's been the jury selection that has happened. So we know who the jurors are. The opening statements have come out from each side, both the prosecution and the defense. So we know what their general strategies gist is. We've had the first witnesses. So the first witness has come on. And then we have today, Thursday, the second round of witnesses. Some familiar names that you will be familiar with. All of that happened this week. It's going on. And it will go on for the remaining six weeks of this whole thing. So we will recap it all and also tell you what's to come. But that's not all. Ryan, what else is going on? The ETH Futures ETF Derby. OK, remember last week we said we might have ETH Futures by Monday and boom, we got ETH Futures. So we're going to talk about that. Who's in the arena? Who's ahead in the race? What all of this means for crypto. The SEC takes another L. Gary just can't stop losing. But to top it all off, Suzu of 3Rows Capital arrested in Singapore while trying to leave the country. And the order is out for Kyle Davies arrest as well. Kyle Davies on the run. Man, like that's just good stuff, man. But then, of course, the market's not necessarily doing following suit. So this is why I'm saying I'm not ready to get hurt again. Well, not ready to get hurt again. Not ready for October, though. There are some believers. We'll talk about that in the market section. But before we get there, David, it's back to school time. And I'm not talking about regular school. I'm talking about crypto startup school, my friend. This is from A16Z. What is crypto startup school? A16Z crypto startup school is famous. It is an accelerator, a 12 week accelerator program with some of just the biggest entrepreneurs and founders as your mentors in the industry, along with a lot of the partners at A16Z. So you apply, you apply with your startup, and you apply to the school, and then you get accepted, hopefully, to go and be a part of this accelerator. We at Bankless Ventures look at a lot of the startups that come out of accelerator programs like this, especially A16Zs. And so being accepted to the A16 startup school, I would call that bullish. So like I said, 12 week program is in London from March 27th in London in Britain. And so, I mean, it's just like some straight market experience. Don't get your MBA. Don't do that. Just go to A16Z crypto startup school. Yeah, it's like a startup MBA. I can't recommend a program like this enough. Chris Dixon, of course, is a mentor there. Jing Wang from Optimism, just absolutely world class. I don't think anyone else does it better. And the call to action is if you are a crypto founder, Web3 founder, make sure you hit the deadline and apply to A16Z crypto startup school. You've got to do this by October 20th, 2023. There's a link in the show notes to apply. 14 days. 15 days. Get on it. Let's do it. This is a build market. So let's get building. David, market section. Let's talk about it. What's Bitcoin price doing on the week? Bitcoin price, happy, up 2%, 26 ,900 where we started. We are up 600 more dollars to 27 ,500, up 2 % on the week. Nice job, big. Oh, we kind of erased a little bit of the gains. Just a little bit. Just a little bit. All right. So hopefully 2 % by the time you're listening to it. Overall, overall, a good, good 30 days. Good 30 days. Eth price starting the week at 16 ,060, down 2%, WTF at 1620, Bitcoin up 2%, Ether down 2%. What gives? I don't know.
A highlight from Down with the (Burger) King with Michael Seifert and Russ Vought
"Lots of channels. Nothing to watch. Especially if you're searching for the truth. It's time to interrupt your regularly scheduled programs with something actually worth watching. Salem News Channel. Straightforward, unfiltered, with in -depth insight and analysis from the greatest collection of conservative minds. Like Hugh Hewitt, Mike Gallagher, Sebastian Gorka, and more. Find truth. Watch 24 -7 on SNC .TV and on Local Now, Channel 525. Hey everybody, today on The Charlie Kirk Show, Michael Seifert from Public Square joins us. Make sure you download the Public Square app, PublicSQ .com, that is PublicSQ .com. You have to email me, as always, Freedom at CharlieKirk .com. I really enjoy hearing from you. That is Freedom at CharlieKirk .com, Freedom at CharlieKirk .com. Russ Vogt joins us as we talk 9 -30 strategy. I ask, what is a woman to a group of college women, and they do not know the answer. And Bob Menendez, I got a lot of respect for this guy. No, I'm half kidding. Not really. You'll know what I mean if you listen to the end of the episode. It's far from respect, but the guy's got game. And I bet he could win re -election in New Jersey. Email us, Freedom at CharlieKirk .com and subscribe to our podcast. That is Charlie Kirk Show podcast. Get involved with Turning Point USA at TPUSA .com. That is TPUSA .com. Start a high school or college chapter today at TPUSA .com. Buckle up, everybody. Here we go. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks. I want to thank Charlie. He's an incredible guy. His spirit, his love of this country. He's done an amazing job. Building one of the most powerful youth organizations ever created, Turning Point USA. We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country. That's why we are here. Joining us now is Russ Vogt, president of the Center for Renewing America. It is September 26th. The shutdown is looming on September 30th. Russ, thank you for joining us. We've had a lot of congressmen on the program, some great guys, Congressman Dan Bishop, Matt Gaetz, we've had Chip Roy. But I'll be honest, it is a Chinese fire drill. It is disorganized. You have people on every single side. I was on the phone this morning. No one knows what the heck is going on. So Russ, what are you hearing? What can we expect coming to September 30th? Do you think the government's going to shut down? I do think it's going to shut down. I think that's where we are. And I think it's good because this is the last leverage point we have against the Biden administration. And you're right, Charlie, in the sense that when you have kind of an intentional strategy on the part of leadership to force this into a corner, it's going to leave something to be desired on the execution front. But here's the good news. I think the House conservatives are increasingly united in forcing a conversation about moving forward on bill by bill and really focusing on the woke and weaponized restrictions that need to be put in place to put a vice grip around the Biden administration's activities against the American people. I think you're going to see those kinds of debates this week, and it's going to move to a good place in terms of the theatrics of the last several weeks. I want to make sure that we calm down the alarmism. So I received a couple emails this weekend. Charlie, I can't believe you want a government shutdown. I need my Social Security checks. Russ, let's tell the truth about this. Social Security still goes out. Medicare still goes out. Essential government services, which I find hilarious because if they're not essential, why do they have jobs? They should all be fired. This is a partial, very partial, let's just call it a fractional government pause because it's not actually a shutdown because they all get back pay. It's basically the secret that no one wants to say is that a lot of government workers are hoping for this because they basically get a vacation. Russ, tell us what really happens because this is important. You've got the parameters of this. Two -thirds of the federal government is on autopilot. Not a good situation, but the reality of where we are. So a third of the federal government is subject to what we call the annual appropriations process. But if you're on Social Security, there's nothing to worry about. You're going to get your check, and you're going to get your check on time. Medicare, the Department of Defense is going to continue to be out there defending our country. All of the people that are in the business of securing this country are going to be similarly at their posts. What this does is this says for those of you who are working on the Biden climate regulations at the EPA or the Department of Interior, sorry, you're going to have to go home. You're not going to be able to be at your desk and working. So this is not something – there are tried and true ways, and I've managed this for President Trump, to make this painless as possible consistent with the law. We thankfully blazed a pretty good trail on that, that they're going to have a hard time playing politics with this. We'll be holding them accountable. But in terms of the – this is not a situation where you're going to go off a cliff, and somehow you're not going to get your government benefits. It's just not the case. Okay, so let's get into this here. What then is the ask? Because the way I look at it, the way the stars have aligned, the universe, all of a sudden – I'm not happy about this, but it just so happens the border has never been as bad as it is right now. And that's like intersecting right with this funding fight over border security. Russ, if Republicans can't get this done, when there's 8 ,500 people illegally entering an eagle pass alone, I mean, it's not as if this is something that happened six months ago. This is actively occurring. Then Republicans are completely worthless. Russ, so what is the ask, and strategically, what is your advice for how they actually get it done? So my view is that they have had a wonderful banner, a messaging parameter called no security, no funding, that allows them to be able to go at this seminal threat that we're seeing along the border, and to make that a very, very important issue. I also think it allows them to deal with the weaponization at the Department of Justice. I don't think that we can leave this leverage point without doing something against the regime that is trying to steal the next election, and at the same time going against half the country and considering them enemies of the state. So I think there's a lot of things that can be done, but if we don't get to the end of this process and have dealt with those two issues, and then spend a lot of time trying to defund the offices doing the bad activities, I'll consider it a failure. So the goal needs to be then not paperwork processors on the border, but actual border security. That's a major difference. But also, I think that the pressure needs to be that Joe Biden needs to start deporting these people. He's hosting them and just releasing them into the interior of the United States. Exactly. And there's a specific rider that needs to be put in place, and Stephen Miller has been calling for this some time, as well as Chip Roy. It needs to be illegal in the sense that you can't spend the money to be able to release someone into the border. That's the kind of thing that it's not just about changing laws that they ignore. It's about saying that a bureaucrat is going to be facing criminal charges in violation of the Anti -Deficiency Act if they ignore the appropriations law that's saying that they can't do that. And as a result, that will change a lot of the policies that we've been asking for. So we're looming towards this lockdown. Re -emphasize what you're saying about leadership. How has leadership basically set the table for failure? Build that out for us. Sure. The year started with much promise. For the first time, House Republicans were governing with conservatives in their caucus, and they were achieving things that no one thought was possible to pass $5 trillion in potential cuts. At the debt limit deal, Kevin McCarthy walked away from House conservatives and went essentially into coalition with House Democrats. At the time, he used it as an excuse. He said, we'll do all this through the appropriations process. That was an excuse, because they then didn't move any of the appropriations bills themselves. It's not like these bills are passed out of the House and sitting in the Senate. Instead, they've had a pileup in which we are now up against a deadline, and they're asking for more time. But the problem is that McCarthy has never governed from the standpoint of we're going to use leverage points to save the country. Instead, he puts a cartel view on it, which is we're going to try to minimize what is necessary to get past this leverage point, because otherwise it will have political risk. I think you and I agree, we're not going to save the country without managing political risk, and we can do that. We have done that previously in shutdowns, and the country will reward Republicans when they fight over these leverage points. That's what we're asking right now, and I think conservatives are insisting on it, and so far, he's having to go in their direction. Yeah, and I think we need to reject the framing of shutdown, which, by the way, ideologically, all I'm on board for. Maybe a pause? I mean, how else can we message this? Because, Russ, here's what's going to happen, right? So we are barreling towards not getting a deal done on Saturday, right? And honestly, I hope a deal doesn't get done in the sense of enough, draw a line in the sand, show your voters you're fighting. It's better for no deal than a bad deal. I think you would agree with that, right, Russ? It's better for no deal at all than a bad deal. And so September 30th happens, and again, your Social Security checks still go out, Medicare still goes out, military still do. You have the DEI, you know, lesbian bureaucrats at the Department of Homeland Security or whatever that might not, you know, be going to work for a couple days. Honestly, good thing. So, but Russ, let's just kind of think about this. How could we better message it? Because the media, Sunday morning, I face the nation, CBS, all that full court press, Republicans shut down the government once midnight hits on Saturday night. So how do we get ahead of this and preemptively message it, not just be on our heels and play defense? Yeah, I mean, I think the reality is, to go back to the facts, what is occurring here is a lapse in funding. It is a lapse in funding. The government is not shutting down. The Department of Defense is still up and running. That would be the case if it actually shut down. Those people would not be at their post. What is happening? Funding is lapsed. Funding will come back on when Congress reaches a deal. And I think if we can communicate facts in that vein, we will help our case and explain to the American people what's actually going on. But here's the thing that I would say. These leverage points in which there is confrontation, there is political risk, are incredibly important because the only chance that we get to get the country's attention. It's when people who are not listening to politics are listening to their Christian music station or whatever they're listening to. And all of a sudden they have the news update that's saying, OK, there's a government lapse. What are the terms that are being discussed? Oh, the weaponization of the Department of Justice. That's what we want. And that is a feature, not a bug, of our politicians here in the cartel of Washington, D .C. Russ, you're doing a wonderful job. Center for Renewing America. We're going to have you back on. September 30th is the big day. I think we're going to swing and miss. But honestly, I'd rather have us strike out with no deal than one that betrays our voters. Russ, thank you so much. You bet. Thanks, Charlie.
A highlight from News Block: Bitcoin Outperforms Other Assets, FTX's SBF Jury Questions, Binance vs SEC, Anti-CBDC Bill, Grocery Inflation
"Welcome to the CoinStories news block. I'm Nathalie Brunel and in the span of just 10 minutes, roughly the same time it takes to mine a new Bitcoin block, I'll provide you with concise, insightful updates on Bitcoin and the global financial landscape so you're well informed on the week's top stories. Everything you need to know in one place in one block. Let's go. Bitcoin started the week with a nice little green candle. But zooming out, Bitcoin is officially the best performing asset class in seven of the last 10 years. That's according to data shared by market strategist Charlie Bilello. Between 2011 and 2023, Bitcoin's annualized return was about 145 percent. Compare that to the Nasdaq 100 index at 17 percent, the S &P 500 at 12 .5 percent and gold at just 2 percent. Sorry, Peter Schiff. And for those lucky enough to buy Bitcoin in 2011 and hold, their cumulative return exceeds 8 million percent. Wish that was me. More institutions are eyeing a spot Bitcoin ETF, the latest being Franklin Templeton, another giant asset manager with 1 .5 trillion dollars in assets under management. Franklin Templeton's application joins BlackRock, Fidelity, ARK Invest and several others. As I've reported here on the news block, a spot Bitcoin ETF would make getting exposure to Bitcoin as easy as buying any other stock or bond in a traditional brokerage account. It would increase access to Bitcoin and make it easier for funds to flow into the space. But of course, that's dependent on approval from the SEC, led by Chairman Gary Gensler. The SEC's main complaint for why it has rejected spot Bitcoin ETF applications is market manipulation and fraud. In a Senate Committee on Banking, Housing and Urban Affairs hearing last week, Gensler answered questions related to the SEC's oversight of the entire crypto industry. Gensler testified, quote, given this industry's wide ranging noncompliance with the securities laws, it's not surprising that we've seen many problems in these markets. Thus, we have brought a number of enforcement actions, some settled and some in litigation, to hold wrongdoers accountable and promote investor protection. Gensler is continuing to hold the court decisions for him in the SEC's lawsuits against Grayscale and Ripple Labs. And when pressed in the hearing about how the SEC will protect investors from crypto fraud, Gensler responded by saying these companies need to be compliant with existing securities laws, adding this. But right now, unfortunately, there's significant noncompliance and it's a field which is rife with fraud, abuse and misconduct. We saw some of that fraud and misconduct with the high profile downfall of FTX. FTX founder Sam Bankman -Fried's case is set to go to trial October 3rd. But this week, a story gaining attention is related to the proposed questions SPF's lawyers want to send to potential jurors. And prosecutors are trying to stop this. The would attribute a crypto firm's failures to the owner of the firm and why, and whether they think it's wrong to donate large sums to political candidates and lobbyists. Another question was about SPF's effective altruism, the idea that he only wanted to amass wealth to give it away and improve the world. And yet another was about whether the juror had experience with people with the medical condition ADHD. Now, the DOJ's prosecutors are worried these questions are aimed at getting jurors that would see SPF in a sympathetic light and have written a letter to the judge to remove these questions entirely. SPF faces more than 100 years in prison if convicted of a number of charges, including fraud, conspiracy and money laundering after he allegedly stole and lost billions of his customers' funds. Meanwhile, Binance, another exchange in hot water with the SEC, also made headlines this night, including the CEO, the head of legal and the chief risk officer. Binance US has also cut a third of its staff. Binance issued a statement blaming, quote, the SEC's aggressive attempts to cripple our industry. Now, the layoffs arrived just as the SEC is accusing Binance of not cooperating with its ongoing investigation. The SEC says Binance US has failed to hand over proper documents that ensure that its customer assets are safe and in sole control of the organization. The recent resignations of Binance US leadership, including CEO Brian Schroeder, only added to the growing concerns. Binance CEO CZ responded saying, quote, there has been some speculation regarding recent management changes at Binance US. Brian Schroeder deserved a break after accomplishing what he set out to do two years ago. Ignore FUD. Keep building. Binance makes up about half of Bitcoin's trading volume, so the government complaints and investigations could delay any spot Bitcoin ETFs from being approved. So I'll be staying on top of this developing story. Now, in other news, in an industry first, Swann Bitcoin announced its plans to launch a Bitcoin only trust company with crypto custodian BitGo. This comes after Swann's former custodian Prime Trust filed for bankruptcy in August, and its current custodian partner, Fortress Trust, was acquired by Ripple Labs. The creation of a Bitcoin only trust company is a positive development given the risks that we've seen arise when custodians hold other cryptocurrencies or do business with companies that handle them. Let's turn now to a bill reintroduced by House Republicans that would outlaw a central bank digital currency or a CBDC. Last week, Republican House Majority Whip Tom Emmer, along with forty nine co -sponsors, reintroduced the CBDC Anti -Surveillance Act. The bill aims to prevent the Federal Reserve from issuing a digital dollar due to the risk it imposes to privacy and individual freedoms. Tom Emmer tweeted, quote, if not designed to emulate cash, a government digital currency would dismantle Americans' right to financial privacy and embolden the administrative state. I won't let that happen. Specifically, the updated bill prevents the Federal Reserve from issuing a, quote, intermediated CBDC, which would be a digital currency issued by the Fed but managed by retail banks. This is a similar system to what's currently being deployed by China with its digital won. Congressman Emmer adds that this bill puts a check on unelected bureaucrats and ensures the U .S. digital currency policy upholds our American values of privacy, individual sovereignty and free market competitiveness. Whereas Republicans are focused on stopping a CBDC, the Fed is only concerned about bringing down inflation. But this past month, inflation was on the rise again. CPI rose to three point seven in July, and that's mainly driven by rising energy and food prices. But don't worry, economist Paul Krugman, the guy who famously said the Internet was a passing fad, notes that if you exclude everything people actually need, like food, energy, shelter and used cars, inflation is actually down. But here in the real world, people continue to struggle with the rising cost of essentials like groceries and gasoline. And instead of taking responsibility for their inflationary policies, some politicians are identifying scapegoats for the rising cost of living. In a speech last week, Canadian Prime Minister Justin Trudeau blamed grocery stores for price rises and said the companies could be hit with new taxes if they do not take steps to control food prices. And let me be very clear. If their plant doesn't provide real relief for the middle class and people working hard to join it, then we will take further action and we are not ruling anything out, including tax measures. Leaders of the Canadian grocery store chains responded by saying they are not profiting from inflation because although prices have risen, so have their costs. Grocery store profit margins remain razor thin. In fact, the CEO of one major Canadian grocery chain, Loblo's, said that on a customer's $25 grocery basket, they earn just $1 in profit. Performing price controls or taxing these companies would only negatively impact the available supply of food even more and risk putting these grocers out of business. But once again, government policies are threatening to worsen the problem they helped create in the first place. This is true in America, too. Grocery store profit margins remain some of the lowest in the economy, averaging about 1 to 3 percent. Some grocery stores are struggling to keep their doors open here, especially in big cities amid massive waves of theft. This has even led to cities like Chicago proposing to open government -run grocery stores. Will this help the inflation picture? Doubtful. Of course, inflation isn't the result of grocery stores profiteering. It's the result of central banks and governments injecting trillions of dollars into the economy since 2020. As politicians continue to blame inflation on everything but their spending and central banks continue to raise interest rates to try to bring it down, inflation continues to erode the savings of every household holding the currencies that these institutions manage and control. Bitcoin fixes this. All right, let's wrap up this news block with the craziest Bitcoin headline of the week. It was reported that Paxos accidentally paid more than $500 ,000, that's more than 19 Bitcoin, in a transaction fee. Bitcoin fees are up in 2023, but not by that much. Now, the good news is the mining pool that won that block is going to refund that payment to Paxos. That's got to be a relief. If you want to learn more about Bitcoin fees, full blocks, and what Bitcoin block scarcity means for your investment, don't miss my latest Coin Stories episode with Bitcoin miner Bob Burnett. That's it for the news block, your weekly Bitcoin and economic news update. I'm Nathalie Brunel. Make sure you're subscribed to Coin Stories so you never miss an episode. This show is for educational purposes and should not be construed as investment advice. Until next time, keep stacking.
A highlight from 1399: Bitcoin Will Shatter $100K By This Date - eToro CEO
"Bitcoin is unstoppable, and that's never going to change. In today's show, Bitcoin faces a ton of resistance after daily price gains pass 5%. In breaking news just in, Franklin Templeton files for a spot Bitcoin ETF. The fact is they're a $1 .5 trillion asset manager. Let's go. Also quoting Max Keiser, considering yesterday was the 22 -year anniversary of 9 -11, here's what Max shared. Bitcoin is the currency of resistance. If Satoshi had released Bitcoin 10 years earlier, 9 -11 would have never happened. Also in today's show, PayPal enables U .S. users to sell cryptocurrency via the Meta Mask wallet. We'll also be discussing crypto investor Chris Bernzik predicts a Santa Claus rally before the Fed cut rates in 2024. We'll also be discussing Bitcoin to hit $100 ,000 around the time of the next halving. That's right, the Canon vice president believes the supply deficit following the next Bitcoin halving will drive the price past $100 ,000. We'll also be discussing the eToro CEO sees the Bitcoin price rallying to a new all -time high, literally shattering $100 ,000. I'll be breaking down his timeline. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
A highlight from 1247. FTX Bankruptcy Hearing Could Determine Fate of Crypto Lender and Market
"Let's talk about something today I think you guys are gonna like, and that is, is there a crash incoming? And if there is, what could be the catalyst that causes that? A lot of people are looking at some of the data coming in from FTX, but there's a few other things that could also be playing into the markets and the prep that maybe the markets are getting ready for. So today we'll break down all that good stuff for you guys today. My name is Paul Bearer. Welcome back in The Tech Path. A couple of things before we get started, I want to thank our sponsor, and that is iTrust Capital. If you're looking at long -term holding and you want to go with a strategy to go into an IRA, one way you can do that is through iTrust Capital with their crypto IRA. A couple of things they do over there is you can actually invest in all sorts of digital assets, but you can also jump into things like gold and silver. So it's very easy to do, and it's free in terms of your monthly. All you have to do is sign up so you can start your project there, get into it, maybe transfer an IRA, or if you're brand new and you want to start one over there. And all you guys are paying for is the trades that you make within your own account. So it's a great way to get started. Make sure and use the link down below. It's going to help you get a $100 funding reward, and it also helps the channel out, so thanks for that. All right, let's get into a couple of topics today, and a few of them I want to jump onto a couple of tweets, and then we'll kind of flow into some news. But I've got a clip here of some things at the end that you guys don't want to miss. Kobe Easy comes in, global liquidity down, massive $1 trillion over the last 10 weeks. That's a pretty big deal for that much liquidity. It's interesting, too, because about four to five months ago, we had a series of interviews that we had with Lynn Alden. If you guys have not seen some of our Lynn Alden videos, just go back, search our channel. And she was kind of forecasting out what might happen, and this appears to be some of the things that she has been anticipating around what liquidity might look like. But we're now back to down to pre -pandemic liquidity levels. Now you have to think about that. The amount of liquidity that flowed into the space during the pandemic versus what we have right now is pretty significant. If you look at the chart right here, we'll show you some other stuff, but this is the dip right here. If you kind of just draw that line, this is, of course, talking about 19, 20, and 21 pre -pandemic. This, of course, is all of the injection into the economy and then essentially almost a full recourse back down. Now, granted, this still has a lot of room for more liquidity loss on the global scale, and that will have effect on digital assets, going to have effect on securities and other things, too. So be on the lookout for this one. I think this is one that we need to continue to chart and watch going forward, because this could be an indicator where Bitcoin does start to see, because remember, when liquidity starts to hedge downward, usually, and we'll show a little bit about the Dixie on another show coming up, but usually the Dixie will be on the rise, which it is currently. And if you look at the Dixie over the last, say, 30, well, let's go after the last 36 months, but look at the last year on the Dixie, the dollar index, and you can start to see how this gets affected around just traditional markets versus what's happening in the digital asset market. So very interesting something to watch for sure. Some key events that we'll be hitting this week is the Apple iPhone release. I'm curious if this is going to have a big splash because of the pressure that we're seeing on inflation, which means that will people have the money to be able to go out and purchase a new iPhone? And I think that's going to be a big indicator when we start to see the sales coming in for the holidays and whether or not Apple is doing well. So be on the caution and be on the lookout for that. Additionally, we'll see the CPI inflation data most likely going to be down. That comes in on Wednesday. PPI also comes in this week on Thursday. Retail sales data on Thursday will be softer anticipated. Consumer sentiment data on Friday. Consumer sentiment is right now looking to see maybe one of its biggest dips all year. This is a problem because it will have, I believe, some impact on how the Fed responds with whether or not they're going to be able to hold a flat position in terms of interest rates and the Fed fund rate coming up in November. So we'll see how that goes out. Also, the New York Fed manufacturing data comes in on Friday. So this is a big one. So it's the huge last week before the September Fed meeting. And when you look at what's going to happen over the next, say, 30 to 60 days, I think a lot is really dependent on these numbers this week and how that might play out for you guys in your markets. If you just look at the charts, there's a couple of things. Everybody's saying, why is crypto down so much today? And you can kind of see right here, listen, everything is in the red right now. Quantified crypto shows all top 50 projects with negative performance on the day as a total cryptocurrency. Market cap lost $10 billion in today's daily candle. So that's a big hit. 2 % in the last 24 hours. Fairly significant. Many people are looking at this potential of the FTX dump on the horizon. There's things that, yes, of course, FTX is still a burr in the saddle of the crypto markets. But I don't think it is as big of a problem as maybe a lot of people are indicating. I'll show you some data on this. But if FTX gets the approval for the sell -off, that's the big if, the details will settle on the size and the frequency of liquidations in order to minimize possible negative effects on the market. Now, they hold a lot of assets. We do know that. And remember, the market has already had a tremendous push down. So we're not seeing a $2 .5 trillion market here. We're barely seeing a trillion dollar market. So these kinds of things could implement very easily and cause a little problem within the market. But I don't know, the question mark will be how much can go into the markets and whether or not that's going to have an impact on Bitcoin. I'd love to get you guys' feedback. Do you feel like FTX is going to have any kind of scenario? Are we going to continue to see just a slight downward trend as we've been tracking over the last 10 to 14 days? Or do you think we'll start to see a real hit on the markets? Love to get your comments. Drop those down below. A couple of things to be aware of, and I think everybody's kind of fudding a little bit, is on the amount of Solana. If you look at respective amounts going from $29 million in XRP to $685 million in Solana, there's the line list of some of the tokens that could be at risk to a certain extent. But in reality, these aren't too bad in terms of if they get the go to actually release some of these tokens to be able to compensate the creditors that are in line. So a couple of tweets here. I'm going to kind of just go up here to this one right here. Will they sell off this week, cause a Solana soul crash? This was the tweet that hit on it. Mainly what they're talking about is the potential of this $200 million a week of assets that would be the limit that could kind of roll into this. And I've got a couple of charts here from Woo Blockchain. Let me kind of go up here. So this is as of August 31st. And the total of $3 .4 billion in crypto assets, including $1 .16 billion in Sol, $560 million in Bitcoin. And then you can kind of see the line list there. But these are the asset holdings overall, Solana taking the largest, and then Bitcoin coming in right behind it. And of course, everybody's also looked at Solana and the fact that they've been able to hold on. Remember that Solana was one of the blockchains that took the hardest hit from the FTX crash that happened last December. We saw Solana go down to basically about $8 .50 and then has corrected since then. And that's been an opportunity for some people because many people went in on Solana at its low around $8 to $9, and they're sitting obviously in a great position right now. Filing shows also that there's 438 investment portfolios with approximately $4 .5 billion in invested assets. These are the companies that are all, of course, being hurt. You can kind of see the token layer right there, limited partnerships involved, the equity investments involved. Obviously, we know Genesis and their connection, Yuga Labs playing a role in this, among many others. So this is not just crypto related. We'll potentially see a little bit of a market wave being hit here as we see more and more people taking losses on their books. As of August 24th, about 36 ,000 customer claims have been filed for a total of $16 billion. These are all everything from creditors, etc. You see the $4 .1 billion in litigation for Genesis. Even Celsius is sitting in there right now. And then the IRS, of course, has the largest position right now at $43 .5 billion for claims against this and what's happening with FTX. So all is not well yet. And I think this is, again, one of those things that could be one of those last little pushes into the markets as we continue to see the macro pressure pull the markets down. I just don't think it will be a sharp loss now and decrease in the market overall, especially on digital assets. Now, there could be a handful of tokens. Yes, Solana could take a fairly significant drop down to around $15. It's trading at around $17 right now. So that would be the one to watch for sure. Here's Lark Davis kind of hitting on it. He points out a couple of good notes here. First, coins will not be on the market to be sold, mostly will go over counter. And Solana is mostly locked up, and most of their tokens are locked up for around four years. So that in itself would slow this down. When this is sold over the counter, it'll be someone buying FTX's vesting contract. So that is a factor that plays in it. FTT, I don't think anybody's going to be playing in too worried about that one. Because remember, this was what I feel like set everything in motion was when CZ actually sold and started to move a large amount of FTT, which started the domino effect to occur and caused obviously, I won't say caused, but it definitely had a big implement or potential impact on what happened over at FTX. Bitcoin and ETH, they've got a good amount, but not billions. I still don't think we're going to see any real impact on both Bitcoin and Ethereum. I think we're going to see more market and macro pressure on Bitcoin and Ethereum. And I think we're seeing it right now. Obviously, we've seen a little bit of a downtrend on both of those. Aptos, this is the only one that maybe you have to worry about because of its size. And then everything else, no amounts big enough to concern. So I think this is, again, still just a bit of FUD. But the real question is, how and what will be pushing this down? And you have to remember, and this is just some Solana stuff, I think people thinking that there's a big deal with Solana. Two years of aggressive selling, I would agree. And the number of black swaths we've seen in this market, I'm still very impressed. And I just had a big, one of our executive coaching sessions this weekend. And that was one of the things that many of the people brought. These are business owners, millionaires in many cases, very successful. And even they brought to the point is that Bitcoin doesn't seem to have as much of an impact on it as it has in the past years as they've analyzed. And I would agree, I think the resiliency now is quite a bit different. Here was TOLI coming in. If everyone else is throwing shade, then we're just going to build and code in the shade. So of course, that's the current leader of Solana and Solana has been building and doing a lot in the way of doing partnerships. Obviously, we saw the deal with Visa and many other things happening out there in the market, for sure. Leaders are now monitoring risk in crypto asset ecosystem. The fact that it's even being discussed at a G20, you can take it two ways. You can take it as they're talking about it. That means at least it's getting into a legitimate layer or they're talking about it and it means they might be doing something negative. I think that we're in the more legitimacy layer from the G20. There's a few things there that we can hit on, but I want to also give you guys a heads up. We'll be doing a video later about this because there is a lot happening within the G20 that I think have bigger impact on the planet, especially around investing, what some of the countries will be doing, because there's a lot of positioning around stablecoins right now. And I think even here in the U .S., we're going to see that as well. But the FASB thing was endorsed dramatically. So we endorsed the financial stability board, high level recommendations for the new regulation and supervision of crypto asset activity. So that's a big scenario we talked about last week. Also following the declaration, the finance ministers at the central bank governors of the G20 nations committed to discussing and taking forward a roadmap during the next meeting in October of 2023. That's just around the corner. So they are looking at other potential impacts of maybe how digital assets play a role in a lot of these G20 nations. They also demanded that responsibility bodies ensure implementation method is consistent across global to avoid regulatory arbitrage. More things that I think will also play into how these countries are going to be dealing with digital assets. We've already seen MICA move pretty heavily in this way and position I think the EU into a very strong position of being able to do some interesting things in blockchain over the next few years. One other thing here, crypto analysts is predicting a fake pump before Bitcoin before we see a big dump. Again, we still have a lot of people pushing into the point that we could see a $15K Bitcoin or under. That is the real question mark because right now Bitcoin has been holding fairly decently. A couple of points they hit on right here is Bitcoin could be ready for a short squeeze. And this is in reference to around the $27 ,000 price zone in the following days. This is going to be a very critical time right now. Remember, we've got a lot of things hitting this week that will show the course of the United States when it comes to not only inflation but a potential recovery. And I think that's the more important thing. The other thing that they focus on was Bitcoin market makers are getting ready for a fake pump around $26 ,900 before further dump into liquidate long positions around $24 ,000 price zone. That's one that I think will be interesting because this right here is the potential forecast of where we could see Bitcoin going. If you look at our sentiment data on the CPI, which is our own crypto power index, I can't really downtrend a pressure on both amplification sentiment and top line sentiment on both Bitcoin and Ethereum. So does it mean that we would see a sub $20K? I don't know yet. But what I am seeing is a very consistent downtrend on overall sentiment in the market. And I think when you add in the other macro pressures, those are the things you have to watch for. I don't think it's as much as the FTX issue as it is the macro pressure. Fun fact, less than 5 % of global population now is invested in crypto. So that just shows you again how early you are. Maybe you're watching this for the first time and you're just now getting into crypto or maybe you're just now getting into Bitcoin and Ethereum, you're starting to do your research. What I would ask for you guys to do is just subscribe to the channel. It is one of the easiest ways that you're going to get additional content. You can drop that, you know, hit that little bell and it will give you notifications when we do things like that our live streams. Last up here that I think is interesting is a clip that I want to play for you. And this comes from David Marcus and David Marcus runs a company called Lightspeed, Lightspark, excuse me, not Lightspeed Ventures, but Lightspark. And Lightspark is trying to do some unique things in Lightning. But I want to play this clip for you. He starts off about halfway through. This is coming from Squawkbox. Let's listen in. We've watched the valuation of Bitcoin sort of sit around $25 ,000, $26 ,000. We've all been questioning, so where does this go? And does Bitcoin ever really become a currency, which is what you talk about it becoming? Do you think the value of Bitcoin needs to or can move up if it's actually a currency? Meaning I've always made the argument the currency problem is if Bitcoin is, if you think Bitcoin is going $30 ,000 or $50 ,000 or $60 ,000, there's no way I'm going to spend it on, you know, a pizza or on anything, frankly. If I think it's going to go down, by the way, I might spend it immediately. So our view is actually that Bitcoin is not the currency that people will use to buy things. But a fragment of a Bitcoin on top of Lightning is like a small packet, data packet on the Internet only for value. And so you can exchange at the edges of the network and send dollars to someone that will receive Japanese yen on the other side or send dollars to someone who will receive euros on the other side. All right. So a couple of things that David hit on there that I think are interesting. One is he did admit that Bitcoin would not be used for as a currency. And this is something that I've argued, you know, over time is that it is a challenge because of what's happening with Lightning right now. Now, this is not necessarily a bad thing. It's just a way that Bitcoin will be utilized. And, you know, to what Squawk Box's interviewer there, Sorkis, was trying to get to is that why would a currency ever be a speculated asset? This is where I think the the draw is if Bitcoin is still a speculated asset and it reacts like one. It has volatility. It has, you know, the issues with everything that we've talked about in today's show in terms of liquidity. And it also has pressures from macro. That's just like any other speculated asset, whether you're investing in securities, real estate, anything that you would speculate on. So I think that Marcus, what he's trying to do with LightSpark is they're trying to get to that point where they can get a settlement layer into it. And that's where I think the real question mark is. So whether you haven't, maybe this is the first time you've heard of the Lightning Network. I would suggest that you guys go out, do a little research, really understand it and try to get your head around what its purpose is and how it could be used in the future. At the same time, be looking at the Ethereum network. Also take a look at Solana. You want to look at these payment architectures that are being built on blockchain because these are the ones that are going to most likely be the ones that go forward. So love to get your feedback on whether or not you guys think FTX, these potentials here are even going to have a remote chance of causing any movement down, or do you feel like it's going to be more of the macro? Drop some comments down below. Of course, if you're not in our diamond circle, make sure and get in right now. It's one of the best places you get additional alpha from us. We do a podcast over there. I drop additional analysis in there only to the diamond circle. And of course, the only way you get in is join that link right down below. It's very easy. If you guys want to catch me, catch me out there on X at Paul Baron. We'll catch you next time right here on Tech Path.
A highlight from David Hunter: Where is the Melt-Up and Deflationary Bust?
"There are lots of signs that we're moving towards a tough economy and because of leverage, I think it will be a bust, but, you know, it just takes time to work through the pipeline. Welcome to the Coin Stories podcast, where we talk about investing, hard money, Bitcoin, and how technology is revolutionizing the global economy. I'm Natalie Brunell, and I'm here to learn with you. So this is for educational and entertainment purposes only, none of the discussions should constitute as official investment advice, and you should always do your own research. Make sure you're subscribed to my page so you don't miss out on any new content. This show is made possible through partnerships with companies I trust, and I'm very picky about who I partner with, so I hope you take the time to listen to the ad reads throughout the show. First up, Swan. I partnered with Swan because it is a Bitcoin -only company that is focused on helping people save for their future and self -custody their Bitcoin. Swan can help you start a direct deposit to take advantage of Bitcoin as a savings technology and learn how to take it off the exchange. Swan also offers retirement planning with an IRA, tax loss harvesting, and a white glove private client service. I use Swan to dollar -cost average, and I deposit a little bit every day that's equivalent to what I might spend on a meal so that I add to my future nest egg and lower my yearly cost basis. Swan Studios produces my hard money news reports, simplifying Bitcoin for mass audiences and documenting Bitcoin adoption around the world. To learn more and get $10 in free Bitcoin, head to swanbitcoin .com slash Natalie Brunell. All right, next up, Bitcoin Conference 2024. The world's largest Bitcoin event is headed to Nashville next year. Earlybird tickets are now available, and this is the lowest cost you'll be able to secure for the conference all year. And if you use the code HODL, H -O -D -L, you'll get an extra 10 % off. So come join us for three great days of networking events, panels, keynotes, workshops, and more. You never know what big name might be announced when tickets are much, much higher in price. Head to b .tc slash conference and use the code HODL. I'll see you there. All right, it's time for the show. Hi, everyone. Welcome back. One of my most popular guests is back on the show today, David Hunter, a contrarian investor. And I'm so excited to chat with you. I'm actually titling this episode, Where is the Melt Up and Deflationary Bust? And I know you have a lot of takes on that. So David, thank you so much for coming back. Sure, Natalie. Thanks for having me back. All right, so first, let's just zoom out. What is your take on everything that's happened with the markets? Because one thing I know we have talked about in the past is how good we are here in the United States and the economy with kicking the can down the road and being able to, let's say, avoid a hard landing or a recession. But there are a lot of indicators that say that a hard landing might be coming. And I know you have a lot of takes on this. So what's the big picture? Yeah, I'm still looking for a hard landing, what I call a global bust. And I'm still saying it's going to be the biggest downturn in financial crisis, certainly in the post -World War II era, so bigger than 2008, 2009. And I know that's hard right now because everybody's moving the other direction towards soft landing. But there's a lot of stuff in the, you know, the leading indicators and looking at credit, etc. There are a lot of signs there that things aren't as good as everybody thinks. And as you know, not many months ago, people were glad to buy into the global bust scenario. And now they're moving away from it. And that's just kind of the ebb and flow of the economy. I've been surprised by the ability for the economy to stay resilient and for the consumer to continue going. But a lot of that, I think, has to do with the pandemic. We just had so much fiscal and monetary stimulus pumped in during 2020, 2021. And it just doesn't go away that fast. It's still in the pipeline. So it's allowed consumers to continue to spend. One thing that surprised me, and nobody talks about it, but, you know, we really had people using for many, many years using the refinancing vehicle of their home equity to take money out of their home and keep spending above their means. And with rates moving up 500 basis points, that took that away. So we really see very little of that anymore. And yet the consumer has remained resilient. What they have done a little bit is they can't do it all at once. So for the period during the pandemic, they spent on goods and, you know, things on their homes, et cetera. Now that the pandemic's passed us and everybody feels comfortable traveling, they're putting aside some of their spending on material things and they're traveling. So they're not doing both at once, but they're, you know, it's still the U .S., it's still shop till you drop. And they just aren't, you know, they aren't giving that up yet, even though they're they're using credit cards for everything. I mean, credit credit card credit on credit cards is the highest it's ever been. And it's moving up rapidly and you're seeing it in, you know, they're using it for groceries even. So that's a bad sign. I think there are lots of signs that we're moving towards a tough economy and because of leverage, I think it will be a bust. But, you know, it just takes time to work through the pipeline. Yeah, I know I saw that there are a lot of credit card delinquencies. The government is still spending a lot of money. And I wanted to ask you a little bit more about the mechanics, because it seems like the reason that we're able to keep going and that the government officials are saying that the economy is so resilient is we really did blow up the bubble so much and all governments around the world did it in response to the pandemic, that it seems like there's still a lot of liquidity that is sloshing around and needs to work its way out of the system. But now we are seeing some of those indicators. There have been insolvency issues with regional banks, that commercial real estate looks really weak as that debt rolls over. So can you talk a little bit more about sort of like how big we blew up this bubble and why that's the reason maybe we're seeing this drag out and we haven't hit an official recession? Sure, yeah, it is. I mean, I think we throw around these numbers, you know, trillions of dollars, but I don't think anybody really stops and realizes, you know, in in 2008, going into the Lehman event, the Fed's balance sheet was $875 billion. It blew up to two and a half, two and a half trillion, I guess, by the end of the 2008 -9 crisis. We're now just below $9 trillion, we went up over $9 trillion and we pulled back a little bit. But we put $5 trillion into the system where the Fed expanded their balance sheet by $5 trillion during the pandemic. I mean, so you go from $875 being the entire balance sheet going back to 2013 when the Fed started and in just a short decade plus, we've gone to $9 trillion. I mean, trillions matter, that's big money. And equally, I mean, we've gone on the government side to, you know, $30 trillion plus in debt, just on US government debt and $300 trillion in global debt. So we're talking about numbers that are way off the charts. And I think we just kind of hear them, see them and move on, but they matter. And so when you put that much stimulus into the system, it doesn't all get spent in a year or two, it kind of works through the system. And then, of course, you've got home prices moving up, you've got borrowing on the private side at levels we've never seen. So it's across the board, just massive leverage. And it will matter at some point. Obviously, the big question is when? Have you been surprised at their ability to raise interest rates as fast and as aggressively as they've been able to without sort of breaking something in the system? I mean, there have been definite cracks, but they've rushed in to sort of save it, right? Yep. I mean, we saw it in the spring, obviously, the regional banking issue. So we did get a crack and now we've settled down. The Fed kind of pumped some money and took care of the few banks that were in trouble. You know, we just had yellow freight go under because of debt. There are plenty of cracks under the surface. It's just the nature of the economy that it takes time and forecasting, you know, you can expect things to happen faster and they take longer. It doesn't mean they're not going to happen. It just means we're not there. Yeah. But the thing I've learned through all my years of doing it and through several cycles is it can look like it's a ways off and come very fast. And I use 2008 as an example. In September of 2008, I was calling hard land and calling for a hard landing. Every recession, every economist on Wall Street was saying soft landing, no recession in sight. We were literally three weeks away from the biggest financial crisis in the post World War Two era and people didn't see it. I mean, people trained to see it, didn't see it. So I'd say the same thing here is it can happen at any time. My guess is it will be in recession before the end of the year. Some people would tell you we're in a recession now if you look at certain things. But ultimately, I think recession by the end of the year and bust next year is still my call. Let's talk a little bit more about your forecast, starting with equities. There have been only a few companies within the S &P that have outperformed all the rest. And we have seen a rally on that side. It seems like people are really confident. If you look at just the stock market, can you talk maybe a little bit about some of the nuances and where is the melt up that you were calling for? Yeah, some people think we're in the melt up. I keep saying no, the melt up hasn't hit yet, but we've had a big rally from last October from $3 ,500 up to $4 ,600 and obviously pulling back a little bit here. So I mean, in almost any other period of time would be considered a big bull market. However, because sentiment was so negative and people were so worried about what the Fed is doing and overkill, etc., they fought that rally the whole way up and said, no, it's a bear market rally, it's a bear market rally, we don't believe it, we think it's going to end up going to new lows. And only I think probably once we got above $4 ,300 did some of those bears begin to move the other way and say, oh, I can't fight this any longer. But the thing is, there's still, I call it bullishness with no conviction. The minute you get something like you're getting the last couple of days, people start pulling out the bearish narrative again. So there's really a lot of skepticism about this rally and rightfully so, the valuations are high historically. But I would say we're in the process of moving towards a melt up. The melt up is what I call the final stage, the parabolic stage. And we are still climbing wall worry. We're still, we're in a nice bull market, it's a new bull leg. But I believe once we get to new highs above $4 ,800 is probably where you're going to see the slope steepen even further. And you're going to have pullbacks are going to be very short and very quick. So you'll be up, up, up, up with and people have to chase and people look at the $7 and ,000 people are going how in the world are you going to get there given that we're already at historic valuations. But it's because people will believe we're entering a new cycle with the Fed tightening cycle is over. They can look over the trough and begin raising earnings estimates for next year. And in doing that, you know, valuations come down. So I think that's still ahead of us. I think it's directly ahead of us. This pullback we're having now, I think probably doesn't last very long. We could get three, four, maybe five percent pullback. It's always possible it's bigger. But I think given how many people fought this thing, I think you get down three, four or five percent and people are going to be coming in and trying to catch up again. Well, the Fed recently raised rates yet again, 25 basis points because inflation is still too high. And I think there's almost a tug of war, especially when you look at the analysts out there between an inflation narrative and a deflation or disinflation narrative. There are so many factors that indicate we have a decelerating economy. But at the same time, you know, if oil ticks up, some people are predicting that maybe it could go to 100 a barrel. That's the that's the number one input for prices. So things could go up again. Some people are predicting even a double digit CPI next year. So I wanted to get your take a little bit, because how do you see this all all playing out? Because if oil were to go to 100, I mean, that would cause potentially a crisis in the bond market, wouldn't it? I don't know about the crisis, but it certainly would would push inflation fears higher and inflation expectations higher. But at the same time, assuming gasoline follows along with that, it's going to push tighten the consumer pocketbook even further and leave them with less discretionary income. So, you know, it's kind of yin and yang, which one do you pay attention to the impact on the economy coming, you know, going forward or the inflation that's hitting right now? So I don't happen to believe we're going to 100, as you know, probably I've been the bear on oil all the way down. And I think we're probably we've been in a trading range between the mid 60s and mid 80s for most of last year. And I think it's going to remain in that trading range and probably roll over and head back down towards the lower end of that. And because I think the bust is not that far off, I think ultimately oil goes to 30. So next year or so, you know, there's always and people stay pretty they fought the downturn in oil for a long time until it kind of broke. Seventy five, I think, then they started getting getting on board and saying it's going lower. But but I think people still look and say, well, it has to go higher. And I don't think so. Yeah, I think, again, we talk so much about the US and my focus is the US, but globally the economy is weak and I don't see that changing. So I still think oil is probably going to stay in that trading range for a while longer. It's time for a quick break to hear these messages from my partners. Fold is the best Bitcoin rewards debit card and shopping app in the world. You can earn Bitcoin on everything you purchase from Amazon to groceries to your Bitcoin conference tickets with Folds Bitcoin cashback debit card. And you can win free satoshis every day or even play for a whole Bitcoin by spinning the rewards wheel. You can also buy Bitcoin and Stacks that's directly unfold and earn even more incentives and rewards. This is a great app to get someone totally new into Bitcoin and way better than earning airline miles or hotel points. Head to fold app dot com slash Natalie. And if you use my link, you'll get up to 10000 stats when you sign up for spin or spin plus and spend at least 20 dollars on the card. I'm so excited to share that I have partnered with Coin Kite and we are committed to making sure everyone has the information they need to safely self custody their Bitcoin Coin Kite produces the cold card wallet, which is the cold storage device I am switching to for safekeeping my Bitcoin. It is Bitcoin only. You can verify the source code. It's ultra secure. And as I'm learning, it's easy to use even if you're a beginner. If you head to their site in my show notes, you can find all of their products from cold cards in different colors to seed plates, top signers, stats cards, block clocks, which I have behind me and more. I'm also in the process of creating some how to videos on cold card. So watch out for those in the near future. Become your own bank with Bitcoin and Coin Kite. All right. Back to the show. Well, I want to ask you a little bit about geopolitics, but first, just just wondering, why do you think gold has underperformed? I mean, in these conditions, you're certainly not the only person to believe that we're need to protect themselves with some hard money and something outside of the purview of the government being able to just print into oblivion. Why has gold underperformed? Well, if if if I you probably think it's because of Bitcoin.
Debt Default Blame Game: Is Biden Responsible?
"What did you think of last night's town hall generally? And then let's get to the debt specifically. I'll confess that I watched the Sox beat the braves last night to once again win their road series to go back home to finlay. In the playoffs ahead of your guardians, I've seen some of the coverage this morning on the default question in particular, there's no reason to default speaker McCarthy and senator McConnell on both side. We shouldn't default. But it's really on Joe Biden's shoulders. House Republicans passed a good bill that would raise our debt ceiling in a responsible fashion by reducing spending up to $5 trillion for ten years and Joe Biden has continued to pretend like that didn't happen and that he has no responsibility to either support that legislation or propose an alternative, I know that they've begun negotiations this week. I hope those proceed and orderly fashion and that Joe Biden accepts the reality that the American people sent a Republican majority to the House of Representatives in part to stop the runaway spending in Washington.
Former President's Hypocrisy on Debt Limit Exposed
"The most significant policy position taken last night was his throw down on the debt limit, meaning it would be mostly psychological if we did not raise the debt limit and that eventually we're going to have to breach the debt limit unless serious $5 trillion of spending is done. Your reaction to his marker, which I think was intended for the House Republicans more than anyone else. Well, look, my reaction is, you know, doctor hill thyself. I mean, he did more to add to that problem during his four years as president than any president until Joe Biden. And the two of them both should be thinking about what they've done to add to the absolute critical mass that we have here in the country. And so I love and he said, I love using the debt limit as leverage when I'm not president, but I'm totally opposed to it when I am. You know, look, he calls himself the king of debt when he ran in 2016 and the problem is that we're now seeing the ramifications of that. Enormous inflation that kills the spending power of the American people.
Sen. Crapo: Depositors' Capital Lost Value Due to Fed's Interest Rates
"And now we have Mike crapo Cut 5 go Literally the downfall of the bank the reason it had to be closed was that it couldn't meet the depositors withdrawal requests Because their capital was being was losing value and they were not able to access their capital And I attribute that to the interest rate hikes that we are seeing in the face of the inflation Am I wrong in that I'll stop I talked about this Immediately I know you're absolutely right about this among other things When you're loaning out money at a lower percentage rate than the money costs you You're going to go broke You're going to go broke So the fed is having to raise interest rates in order to counter inflation The fed has been trying to push the country into a recession In order to slow the printing of money and the spending of money That is the high prices Not that you're spending on spending and spending it at the prices are going up And that's why when Joe Biden proposes a $7 trillion budget and 5 trillion attacks increases everything the fed is doing is pointless Because Joe Biden is pushing us as aggressively as he can toward a depression
Rep. Bob Good: Fiscal Reform Must Come by June to Avert Default
"Are we looking at a timeline here, congressman? Well, we're beginning to put, again, the markers down now to say, hey, we're not going to raise the debt limit without commensurate cuts and spending to put us on a path to fiscal response got to do that. We're not going to hit that the estimate is we're going to hit the actual debt ceiling sometime around June, which would frankly just force us to prioritize our spending. We've got a record $5 trillion in revenue coming into the treasury because of the Trump tax cuts and jobs act never happened before in the history of the country. The Democrats lie, imagine that they lie in the sea with their allies in the mainstream media to say, oh, the Trump tax cuts jobs like that Trump tax cuts contributed to the national debt. No, it didn't. That has helped it not to be even worse because the record levels of revenue that's come in, but you're going to see us butt up against that come June, Kevin McCarthy has been trying to meet the president. That's happening today. And of course, the president is being totally unreasonable and irresponsible saying that after we pass a $1.7 trillion omnibus spending bill that there's no room to spending cuts in order to raise the national debt, the national credit line. But Todd, it's the Congress, the house is responsibility to pay the nation's debt and to protect the full faith and credit of the U.S. government, which is put in jeopardy by unchecked reckless spending that's given us nearly 32 trillion international debt.
Senator John Cornyn Reviews the Debt Limit Deadline
"For more than 20 years now. And you've seen a lot of debt limit bills that raise the debt limit. We've gone from 6 trillion in debt under 6 trillion in 2000 to 31 and a half trillion, do you think it is responsible for Joe Biden to say he will not negotiate with leader McCarthy? I mean, speaker McCarthy and leader McConnell? Absolutely not. Hugh historically, there's been there's been some savings, some structural structural changes in our spending, as you know, about two thirds of it is mandatory spending. It's on autopilot. Take out take out defense spending and it's only about roughly 15% of discretionary spending. But COVID, of course, we blew through about $5 trillion on a bipartisan basis dealing with what was a global emergency, but the Biden administration simply can't kick the habit and spend another $3 trillion in purely party line votes at the last two years. And so the president needs to step up to the negotiating table and his position now, I believe, is unsustainable. Now, I saw a leader
"$5 trillion" Discussed on Bloomberg Radio New York
"On mergers and acquisitions for the 5th year in a row as measured by the total dollar value of transactions This dominance comes as global M and a and related deals surpassed $5 trillion in volume for the first time The bank advised on more than $1 trillion worth of deals giving it a market share of more than 24% Let's check in on your markets then after a sell off a stateside the MSCI Asia Pacific posting gains a focus on tech shares over in Hong Kong solid gains there across the HS tech index of more than three and a half percent Hong Kong now closed for the new year holidays The future stateside pointing to losses are two tenths of percent The Bloomberg dollar index is flat and crude is posting losses of 5 tenths of a percent Thin liquidity of course on this December the 31st of 2021 let's switch up the board and look at Bitcoin which is testing a 55 week moving average Currently down 7% in the last 5 days at 47,360 if it breaks below a level around the 45,000 point you could see it below 40,000 That is a view of some analysts the Bitcoin though is up still around 60% this year That is your market check plenty more coming up This is Bloomberg This is my kitchen table and it's also my filing system Over much of the past three decades I've been an investor The highest calling of mankind I've often thought was private equity And then I started interviewing Oh I watch your interview especially I know how to do something I've learned in doing my interviews how leaders make it to the top I asked him how much he wanted he said two 50 I said fine I didn't negotiate with him I did no due diligence I have something I'd like to sell And how they stay there You don't feel inadequate now because being on the second wealthiest man in the world is that right.
"$5 trillion" Discussed on AM 970 The Answer
"And in any blame the people he blamed. The Americans said, Oh, they should have left on their own. How are they gonna leave? People showed up at the airport with passports being turned away for God's sake and beaten on the way to the airport. Uh, you know what world does he live in in Yeah, And what happened with closing the Bagram Airfield, which which is really like we here is 400 miles from China Closing Bagram. What? Why? And and they? There's no. And you think that blink. It would at least explain that, But you get no explanation, and then they do They distract And they're going to talk about this, Uh This virus. That's what they've been distracting it. Will there be any accountability for the disaster that was Afghanistan, congressman There's ultimately accountability and elections. Go, boy. How much more damage? Are they going to cause between now and the next elections? Because they just keep doing these these things that everybody knows is wrong. And then they do feel find blaming other people. I mean, you know, look at Covid. The President Biden comes in saying he's going to be the expert on Covid. You know, everything was about covid. He inherited three approved vaccines. For Covid. And yet we still got more more states that are trying to shut things down again. Look at what he's at the FDA. He's still is not appointed a head of the FDA. The FDA, the Food and Drug Administration, which is where so many of these policies I mean, this is where drugs get approved. You wonder why there aren't enough therapies. President Biden has still not even appointed a head of the FDA. In the middle of a pandemic is nine minutes nine months, and it was presidency. For God's sake, you know? Did he just forget that the FDA is an organization that he actually appoints the head of? Or maybe he's afraid if he points somebody to bungles things like everybody else will get blamed for that, too. Me, for goodness sake. These are real decisions that he's making or failures that he's making and all we want to do is wake up every day going. Who can we blame the day for our miserable failures? It's unbelievable. Congressman Steve Scalise. He is the house minority whip. And the kind enough to join us this morning before we let you go, Congressman. I know your day is so so busy. We so are honored that you would even join us, Steve. We appreciate it more than we can tell you that as we move forward. In a year so we can take back the house. I feel we can with your leadership with we have local folks like Nicole Malliotakis stepping up in all these these young Republicans. Listen, I'm an independent, but we need to do something so well, it looks like and I don't want to jinx anything. And I know the work is before us. But we can take back this house because you can't keep making this many mistakes with this administration. You're feeling strongly about that about taking back the house, sir. Look sure that there's crisis after crisis that are all self created. You know whether it's the border crisis, which happened day one looking with, Blinken said. You know, I'm going to Afghanistan, so we inherited a deadline. That was what he said at the border. There was a great plan advice by President Trump. They inherited a border plan that was actually controlling our border. They threw that all out the window. They inherited Keystone Pipeline. They threw that out the window. When did they care about what they inherited? There was no deadline that they have to inherit from President Trump because President Trump put conditions based agreement in place and every time the Taliban would break the agreement, he would punish the Taliban. These guys walked in and just said Here's the country were given it to you, and by the way, there's $85 billion worth of military Whether you're just people living with all of this, they're living with it. Last night to 1 30. In the morning. We had a committee hearing on this 3.5 to $5 trillion tax and spend playing Joe. This is where they want to. You know the green new deal they're going to unicorns are going to be flying over the moon. And everything and over the way you're going to be paying more energy costs for your utility bills are going to go up so that what is it to save the planet? No, it's to give China more of our jobs. China emits more carbon. They talk about carbon every day, except State. They literally allow China to get all of our jobs, and they exempt China from all of these mandates that they put on Americans so Americans are going to have a tougher Way of life. Higher cost of living higher inflation over what is already an inflation crises created by Joe Biden, and they're going to add to it by raising your taxes, but they have a utility tax on a natural gas that everybody that uses natural gas will pay. And then when we hit them and said Wait, President Biden promised. If you make less than $400,000, you won't pay any more in tax that, they said, although it's not really a tax. Okay, so you're gonna be paying more for electricity? You're making 50,000 bucks a year in New York, paying more for electricity, but they're going to go. Don't worry. You can call it something other than attacks and that way we didn't break our Protestant breaking promise after Promise, and they just don't care because they think that you're not paying attention. People are paying attention, Joe. Everywhere I go around the country, people are watching us and livid. They can't wait till next November is so true, Congressman Steve Scalise speaking. The truth in Louisiana is holding steady, is it Sir? Our hearts go out to you for all that you went through? With Ida and I know that you're down there a lot, and, uh, they got slammed as usual things getting back to normal. Are they down there? It's you know, in some parts, they're getting back. And then in some parts of South Louisiana, they're still you know, weeks, weeks away from even getting power down in terra bone Lokuge in Grand Isle, But, you know, you know, these are tough people. You know, she's look at the damage I did in New York. I mean about something. Unbelievable. You, Sean in Louisiana all the way up through the Northeast, But, uh, you know, we were working through it. And then everybody just pulls together in towns like this joke. Anything you need down there because I know we're friends were mutual friend Marcel is down there. Let's do a big concert or something and help folks out Louisiana. I will come down there. Anytime you need us down there, Congressman. You're a hero to many of us are and we appreciate that anything we could do for you. Please let us know Steve. We'd love to get you back down. You and I are going to get together soon, my friend and in the meantime, you keep fighting up there and spread the word so important that people know what's really happening, and they found it out from you, Joe. Thank you, Congressman. You as well. Thank you, sir. Congressman Steve Scalise has just a great guy. True American hero in my mind, Not just because he's Italian. Okay. Thank you, sir. Steve Scalise Right there. Hey, it's 7 40 20 before eight o'clock with Joe on the radio and Bill Goggins doing the news for Al this morning on am 9 70 the answer News. Opinion..
"$5 trillion" Discussed on WSB-AM
"Choice. Don't take away the choice. Don't take away the freedom Don't parse the freedom. Ken Burns is saying that parsing the freedom is exactly what we need to do to keep Our freedom doesn't really make any doesn't really give me all your money and I will help you save your money. I don't understand. I don't understand how that works, and I don't think anybody wants this noble experiment. It is dissolved. Just when we have in our grasp the possibilities and the tools with which to solve these things, and we have looming ahead of us. This huge global threat of climate change that has to be addressed, and we can't now permit the flatters society any more time. This In one very brief interview went from January, 6th. To Christian fundamentalism to mask wearing the vaccine, Covid 19, and he rounded it off by throwing in a little climate change just for good measure. But did you hear what he said? He has one last dig. At the end, he said, Look I know that freedom. You guys want your freedom. I know you don't want to take vaccines, and I don't want to wear masks. I know that January, 6th was one of the worst times in history since the Civil War. I get all of that. But not that all pales in comparison to the biggest problem. We face the biggest threat we have right now. And that is climate change, and he throws conservatives under the bus one more time. Listen to what he says at the end of it, that scares me know that Not that Here it is. Of climate change that has to be addressed, and we can't now permit the flatter society any more time the flat Earth society we cannot permit the flat Earth society any more time. What he's alluding to. There is people who deny climate change is real. People who deny climate change exists. People who don't think global warming is a thing. People who believe that the earth naturally changes its Temperature. That what you're seeing with hurricanes and earthquakes. And what have you has been going on for millions of years? Because, well, it has people that don't believe man made climate change is destroying the earth. People that don't believe we need to spend $5 Trillion on infrastructure which will hopefully make us, uh, environmentally protected from our own devices. This guy is calling flat Earth society people. Basically, anyone in the Republican Party who disagrees with climate change anyone who fights the climate change movement. It's right up there with tinfoil hat wearers, conspiracy theorists, Helly might as well just be calling and white supremacists to But he's he's again throwing out a dog whistle to their flat Earthers are now the flat Earth society and they can't be allowed any more time, he says. We cannot allow these flat Earthers to take up any more time. And what does that mean? Again. If you don't speak liberal Communist, I will tell you it means people with a different opinion. Can't be allowed any more time. We need to shut them up. They can't be allowed on social media. They can't be allowed on mainstream media. They really can't be allowed anywhere. Hell, they can't be trusted. Because they're they're destroying our earth. Just because they want some freedom. They got to be stopped. They got to be stopped. 855940 markets are number 855946275 quick break. Don't go anywhere when we get back Special Treat Hideous and horrific history with Hannah Hickox. It's You know, if you missed it last week. You definitely don't want to miss it this week, and just it's going to it's going to be. I know, I know a little bit about what's about to happen. I know this. I'm very excited about it. I'm very head. Are you excited about how excited you need some water or something? Got a whole bottle. Right, Chuck? A little water that's coming up right after this. Stay tuned more. The marquee show coming up. This is a traffic red alerts from 95.5 wsb 11 47 Cool ray carrier WSB 24 hour traffic center. All lanes remain blocked on the East Freeway. This red alerts been there for over an hour. Now I 20 westbound Capitol Avenue. Just before the downtown connector. No traffic is getting By and again. There's a literally six maybe seven vehicles involved in this widely scattered crash or people on the roadway on both sides of the interstate. So use caution. And if you're in the area traffic is being diverted off to the frontage road, But I 20 westbound downtown connector. All lanes remain blocked. Jackie Lee 95.5 WSB reconnect with a carpool or van pool and dried with people you know and trust safely by forming a commute circle with your rideshare group and following current safety guidelines, you can enjoy your favorite way to get to work in a safe manner. For more ways to ride safely to and from work,.
"$5 trillion" Discussed on News 96.5 WDBO
"Be live on Eric's show by calling 877 97. Eric. That's 87797374 to 5. Greetings and welcome it is Erick Erickson here. The full number is 87797 Eric 87797374 to 5. I started to suggest he yelling, but that's the reporter. I know. Janet Yellen, Janet Yellen. Treasury Secretary Janet Yellen warned congressional leaders on Wednesday she expects the country's debt limit will hit its breaking point next month, dealing a likely blow to the global economy without quick action. In a letter to top lawmakers in both parties, Yellen said the by administrations best and most recent calculations Suggests the United States will run out of cash during the month of October. If Congress continues to push off action on the debt limit over the next few weeks, she warned the uncertainty alone Could hurt financial markets. We have learned from past debt limited passes that waiting until the last minute to suspend or increase the debt limit can cause serious harm to businesses and consumer confidence, raise short term borrowing costs for taxpayers and negatively impact the credit rating of the United States. Harkening to the 2011 debt limit standoff that resulted in the nation's credit rating being downgraded for the first time in history. Yellen cautioned that a delay that calls into question the federal government's ability to meet all of its obligations would likely cause irreparable damage to the U. S economy and global financial markets. Nancy Pelosi and Chuck Schumer have said they're going to force a vote on raising the debt limit without reconciliation. Meaning that They're going to set it up so that it might be filibustered. They want Republican ownership. I think the Republicans Need to tell them where to go and how to get there. The Democrats went offer up a $5 trillion Spinning proposal. $1.5 billion bipartisan infrastructure building, a $3.5 trillion 1.5 trillion dollar, bipartisan infrastructure bill and a $3.5 trillion I don't even what's going. We talked about it yesterday. Do you call it infrastructure build You called a human capital Bill, Do you call it a green new deal? What do you call it? It's everything cradle to grave conception to grain, except Democrats don't believe life begins at conception. What do you call it? That amounts to $5 trillion on, in addition to the spinning already done There are all sorts of warnings about inflation. Why should the Republicans go along with it? There should at least be negotiations. There should 100% the negotiations. The Republicans should not go along with the Democrats expanding the development. The last time this happened, we got sequestration. Now, a lot of conservatives to my frustration at the time didn't seem to understand what was happening. You know normally, when Congress gives you projections they talk about cutting And with the cutting really is is cutting the future growth rate of something. So when Congress says it's cutting 10% of a program what Congress really means is cutting 10% of the future growth of the program. And so a lot of conservatives adult well, sequestration when they're making these budget cuts. They're not real world cuts. They're actually future cuts to growth. That wasn't true at all. It actually was the Congress. Passing sequestration required that cut cap and balance that they required that there was actual real cuts. It required a balanced budget. It required capping future growth. And so for the first time in 2011, when Broncos all the Republicans are taking a hostage there, they weren't taking it. They weren't taking anything hostage. They were prepared to shoot the hostage, which is what I advocated for. Shoot the hostage. Make sure the Democrats no. You mean business. You will not raise the debt limit. It is mythology to say the U. S will default on its death. We we have a full faith and credit clause. What happens is other stuff can't be purchased the U. S government has to pay off the debt. There are requirements. Debts have to be paid, so the government will have to shut down to pay the debts. Let them let the government shut down. It's not like there's blowback, you know, they told us there would be massive blow back in 2020 after Donald Trump shut the government down in 2019 him. Shutting the government down in 2019 was the reason I decided I could supporting he was willing to shut it down to go to the mats. You get a border wall funding now. He didn't get everything he wanted. He got some progress. The government got shut down. And guess what? The Democrats didn't do Well in 2020. Have you seen what happened? Other than the presidency? They didn't do. Well, there's this mythology of Oh, no, The Republicans are going to shut it down. They're all gonna die. You would think the Democrats would be like, Shut it down. Shut it down! Shut it down, but they're not because they know It doesn't really blow back on the Republicans, the media says. It blows back over Republicans just because the media, the media says a lot of stuff these days that's not true. We have got to make cuts. Our future as a nation is not sustainable with the debt burden we have. And the Democrats want to have a bigger debt burden. Now listen, I can feel it in the force. I can feel it. There is some progressive newbie to the show out there seen you didn't sing anything when they ripped him. Thank you for spending other money like hell, I didn't. I've been going after Republicans where there's big spending ways. My problem is with the GOP. The only time there ever concerned with big spending is when Democrats are in charge of the White House..
"$5 trillion" Discussed on 550 KFYI
"Come on, Get over it. Impeachment between phrase. Hey, hey. Nothing personal, really. I mean, you're just doing a crappy job and get out of it. The reality. The reality is they don't want a spotlight put on what's going on in the border. Um, they don't. They're trying to move off the Afghanistan disaster. So so that's right Now we're talking about spending. 3.5 to $5 trillion. They will do anything they can to distract from the horrific policies of this administration that have produced crisis humanitarian crisis, whether it's at the border in Afghanistan or or elsewhere. Now they you mentioned the $3.5 trillion, Nancy Pelosi said. You know, we might be able to pay for about half of it and Jen condo sake herself said that to know it's absolutely 100% paid for and you know those evil rich people. They're going to finally pay their fair share. Who's right? Well, Jim Shockey is never right. Okay, So that's just not you'd never telling the truth. Okay. You know if you'd like to select a movie, but Pelosi Pelosi's inaccurate as well. First of all the actual spending levels once you get rid of the gimmicks, according to at least some watchdog groups is closer to five trillion than 3.5 trade. So that's that's something that take into account. And the pay fors are all gimmicks. They're all gimmicks. So what they're down talking about doing is is attacking everybody from farmers and ranchers. To middle class folks with tax increases and and they want to do it on corporations. As if corporations ever pay their own taxes. Um no corporations. Don't they pass that on to the consumers so You will see more inflation, less economic activity. And um and and this. This is will not get paid for. It's going to go on to the national debt. And be a problem for the future Generations. Congressman Andy Biggs. Well, we appreciate your insight and your time coming up next. The Taliban form new government the date of inauguration. Wait till you hear this one. It's coming up Next on Russell 105 50 gave Why Sweet James in sweet James dot com. Here's the reason why you need to know that name is 805. 152 100 is the number 805 152 100. If 55,000 people are injured car accidents each and every year here in Arizona, if you're one of those God forbid, we don't want that. But you know something always been prepared for things to happen. It's that first call that you make that can make all of the difference in.
"$5 trillion" Discussed on WCBM 680 AM
"Before we run out of time. I want to get into politics a little bit, okay? I hear what you've been saying that people will be happy What you have to say. I can read between the lines all night and so forth. Be happy about What it is that you're going to say. My question to you is this You can have the same media attacking as if you do this, if if, if the same media The same blue states, the same judges. There have been efforts in red states, uh, to tighten up their election laws and so forth, and so on. We need election reform in this country and with the Democrats are trying to do with this vote on this fire they called 3.5. It's $5 Trillion is the institutionalized. Their power to enshrine it. So what do you want to tell the American people? The Democrats to one thing better than anybody else, and that's cheat on elections. They are unbelievably good at it, and I said if they ran their military like they run their elections, Afghanistan would have been a total victory years ago, okay years ago. Uh, they cheat. And elections are so corrupt and you know, selling somebody a little while ago. I think I did two things I exposed how corrupt the media is. And I exposed how corrupt American elections are. You know, we were always known for these wonderful elections. How beautiful it is. We're like a third world country. When it comes. You look at what happened in Detroit. What happened in Philadelphia? You look at what happened in Arizona today. I have a headline right in front of me just came out. About Arizona that lets the update 299,493 votes impacted. They had a, uh, a big canvassing. Thing happening in Arizona. Uh, it's like the most incredible thing. In fact, there's another headline. In another one. I call on Arizona to decertify the election. 2 20 recall the electors. We have a duty to act That's made a statement. Somebody made that statement in Arizona big politician, uh, because they caught him in Arizona. And Arizona is less crooked, then Pennsylvania. But do you think you can overcome all this stuff in the future election? I don't know. It's a very big problem. Because the Democrats, you know, we got him by surprise. Mark. You have been so incredible in such a voice. Such a powerful voice and Congratulations on your book. I'm not even a little surprised that are so successful number one again. It's incredible what you've done, and I've always been a backer of your books. Your books are very important. Your voice is more important than frankly but it's so important. But if we don't straighten out our elections, we're not going to have a country. I always say you need borders and you need good elections. I've added, you need good elections. Nobody thought our elections could be so dirty. But you know the people of the base that and I believe it has to be much more than 50%. I don't believe you can have defund the police. I don't believe you can have all of the stuff that they do when you look at all of the no voter ID. No, this. No, that, um Sanctuary cities. I don't believe that they can possibly have 50% without cheating on elections because their policies are so bad when you look at what they do when you look at energy where we had we were energy independent when I left and now You look at Biden. He's sending people over to negotiate with OPEC. Can you believe it? We beat OPEC. We were we did much more bit much more energy than Russia and Saudi Arabia. We went to number one by far we weren't We went to number one and we became energy independent. That was such a great achievement. I even got Anwar. In Alaska approved the biggest site, perhaps the biggest site in the world. I got it approved. They just ended it. Reagan tried to get it. He couldn't get it. They just ended it. They've been trying to get it for 60 years. And they just ended it so we are no longer energy. Independent. Uh, you look at what they're going to do to your second Amendment. They're going to destroy your second Amendment. They're destroying religion. They're destroying everything. They destroy everything they touch. You know, You heard my statement the other night in Alabama. We had 68,000 people in Alabama in the rain and thunder and I said about woke and you know what I said about woke. But in addition to we can't say it on the radio. You know you can't. I don't want to standing already because I'll get myself in trouble. But at the rally, I said it, but Essentially woke is a loser and our country is becoming Place of losers. I just put out a statement on Robert E. Lee. They took the statute. Robert Lee lead at one of the most magnificent pieces of art, But it did represent somebody. Generals will tell you he may have been the greatest general of all time. He took a A group that was going to lose a war in one day, and he actually almost won the war. Except for Gettysburg. I said, Wouldn't it be wonderful if we had Robert E. Lee or a type of Robert E. Lee type? Running Afghanistan. Well, Mr President, War that would have wore war would have ended a long time ago. I would love to go on with your longer but will you come back? I will. I'll always come back for you. I'm very proud of.
"$5 trillion" Discussed on KSFO-AM
"Thought that we would leave Afghanistan where we lost and left American citizens and allies behind in alert. I believe that it was time to leave. You don't leave like this. The president seems to be, you know, sticking with his argument that really everybody was on the same page in his administration about the way this was done. For instance, the decision to close Bagram first and focus efforts in Kabul What about his argument that his quote unquote real choice was either to get out or send in more troops. In other words, it wouldn't have been possible to just go ahead and stay with the continued of 2500. Or to keep Bagram open for the evacuation without surging troops, then And you're the commander in chief, which he is. Buck stops with you. You have to make the decision with all the information you get from everybody, all right? He made the decision that ended up in a disastrous law which were off in Afghanistan where we lost lives, so we shouldn't loss where we left Americans behind it. We've never done before He Made those calls, so we lost 13 people that should not be dead right now because of Joe Biden's foolish actions. What is the mood in Washington right now? Has it changed Because of this chaotic exit from Afghanistan? Has that changed the mood on Capitol Hill? The atmosphere Absolutely. People are furious. I think Democrats are embarrassed. What Biden did. I think it would be very difficult for him to get much else done because you can't trust the guy. I mean, do you want to serve? I can imagine, Chief that doesn't use the military intelligence information to keep you safe. That's what's scaring the living daylights out with people right now. How does that affect the chance? Of getting anything done. I mean, whether you know the public is sitting back and agreeing with you and saying, you know, this is horrible. What happened? And it kind of does overshadow the conversation, at least for the moment. How does this affect the chances of Congress being able to do anything? Well, I've been up there too inaccurate. It's too bad that you can't get things done right now. But the reason is it's a Democrat. Have this liberal wish list that they are. Just help them on getting done. You could do infrastructure. I'm all in for infrastructure, but I'm not gonna go waste money and run deficits to do it. We ought to be helping the families that need help right now, But we don't have to spend $5 Trillion to do that. The American public was never on court. For these things. American public didn't vote to keep our border open vote to close our schools because energy independence vote for leave in Afghanistan, where we leave our citizens and our allies at risk. Was never what they voted for last November, so I think it's going to make it very difficult for the Democrats to get things done because what they're talking about has never been such as the American public bought into So just on the two types of infrastructure package is, is it possible for the smaller one? The bipartisan one To win final passage. If that larger bill ends up stalling, for instance, if there isn't you know the full contingent of Democrats willing to support it in its current form, is that bigger bill going to end up Stopping the smaller bill, or do you think there's a chance The Democrats will let one go without the other? I'll be surprised. Suppose he has been clear that she's not going to let that happen. But I oppose both of them because it's a waste of money. We should do infrastructure. Roads, bridges, airports and seaports to do it in a fiscally responsible manner. We can't That's not what they're doing, So my goal is that neither of these things past because it's not spending a lot in a fishery manner. I represent the systems of my state. This is not a good use of their money. Just ask one. Quick follow up. Then on that bipartisan quote unquote bipartisan infrastructure builds since there are some Republicans who support it. What would you like to see in place of it in place at that smaller bill? Let's do it Bill that has the our federal government investing them roads, bridges, airports and seaports. Okay, in places where the federal government has a responsibility, and in the meantime, let's figure out how we can reduce tax which brought this economy how we can reduce regulation to grow this economy..
"$5 trillion" Discussed on 860AM The Answer
"Hugh Hewitt inside the Beltway Live on a Wednesday, joined by Congressman Mike Gallagher represents Wisconsin in the House of Representatives. Good morning, Congressman Gallagher. Good to have you back. Morning, you good to be with you. I want every journalist to ask six questions of every member of the Biden Administration and Democratic Party. How many Americans are stuck in Afghanistan? Can they get out? How many permanent legal residents of America are second Afghanistan. Can they get out? And how many s I be? Eligible Afghans are they're stuck in Afghanistan. And can they get out those six questions? You know the answers to any of those I don't have the precise numbers on those, but I think the administration's um approximation that it's in the hundreds is low borrowing it um particularly if you you add an L. P. R s Green card holders as we should, as we should treat those as people. We have a duty to get out. If you remember you two weeks ago, I had a bill on the house floor that would have prevented the administration from withdrawing on the August 31st Taliban demanded surrender date. Until we had gotten all Americans out of the country and would have required a daily report to Congress on precisely those numbers on how many of our people are still there, and the Democrats, even those who behind closed doors were very critical of the administration. Who had begged the president and his team to move off of the August 31st surrender date decided that when push came to shove on the House floor when they had an opportunity to do something about it. And vote with their conscience. Decided instead to acquiesce to Nancy Pelosi's progressive demands that they do nothing to endanger the Bernie Sanders $5 trillion spending block. And that really was the choice on the House floor. It was between my bill. And the $5 trillion framework that would allow budget reconciliation infrastructure to move forward and now go to the next stage in the Senate. We then had another opportunity next week. With a revised bill that I introduced to demand those numbers demand a plan post August 31st to get our people out the full reporting of the amount of equipment we left behind a prohibition on any funding. Going to the Taliban so that we're not paying ransom to get our people out. And as my colleague Mike Waltz and others have suggested a sense of Congress that we do not recognize the Taliban. As the legitimate government in Afghanistan. Yet again when all the veteran members of Congress went to the House floor to demand recognition that we consider that bill We were gaveled down by the speaker of the house. So all of these Democrats Chuck Schumer and others who say who say they're laser focused on helping getting people out of the country. When it comes time to actually do something about it. In the United States, Congress are not allowing common sense legislation. It involves Congress just doing its oversight role to move forward, and that's shameful. Because people are now effectively hostage. We know we have flights grounded in Mazar e Sharif. Because of the Taliban. Here's the next stage of this year. Administration is going to argue that in order to get our people out, we're going to have to provide the Taliban humanitarian assistance and provide them international recognition because they have surrendered all of the leverage to the Taliban. Every time blinking goes out there. Says the Taliban has given us assurances that is crazy. The Taliban's assurances aren't worth anything. We have given the Taliban all the assurances and all the leverage and we are completely Subject to their winds right now. So this is America held hostage two point Oh, day nine because the hostage crisis underway began on August 31st because we left on August 30th September rate. So this is America held hostage two point Oh, Day nine yesterday on Day eight, Chuck Schumer in New York, said this cut number 10 We've heard a lot of the pull.
"$5 trillion" Discussed on News 96.5 WDBO
"6 40 I'm Scott and as online those morning news on Wdbo 173 FM and am 5 80 Orlando's news and talk the president traveled New Jersey to serve a storm damage yesterday as his approval numbers continue to drop. Let's go in depth because we love it. When you guys understand the stories would tell you about every day here on Wdbo Live to NBC News radio's national correspondent Rory O. Neill. He is a national correspondent, which means he's really, really important. Okay, so gory. The the president rubbing elbows in Jersey yesterday kind of surveying the damage caused by the remnants of IDA there. There is widespread damage up there isn't there? Yeah, there is and the president made stops in New Jersey and in Queens, and by the way when they say national, that just means I know a little bit about a lot of things making these very making me very, very dangerous. Yes, but you know, the president really turned things political pretty fast yesterday, going right into the climate change argument. And how he thinks the $5 trillion infrastructure bills He has pending in Congress can do a lot to address these issues. Yeah, he now his approval numbers are plummeting right now. Roy, the Afghan withdrawal the delta variant, It would seem to be the prime reasons why right now. Yeah. And this Sutter stop from the economy. You know, we got that bad jobs report on Friday and you know, it looked like we had turned a corner, but maybe just gone full circle. Instead. Tomorrow the focus will be on the Delta variants of the administration says it has a plan to do a final push to get everyone vaccinated as quickly as possible. So so we'll talk Delta tomorrow, but Anything to get off the topic of Afghanistan. As you said, it really has been a drag on his poll numbers. Plus, he's got a massive agenda in Congress. He's got to get the debt ceiling raised by the end of the month, and he wants to get these two infrastructure bills pushed through. Obviously, the White House would love to change the narrative from Afghanistan. But right now, Rory, it seems to be sticking. I mean, there's still a lot of talk about Afghanistan and the chaotic withdrawal that we've had over the last few weeks. Yeah, And it's also just settling down. You know, we're just learning that hundreds of refugees have just arrived in Jacksonville. You know what's happening there, so that just raises a lot of questions, and we're seeing you know, the news reports of you know, Taliban people who are on our hit list. Or suddenly, top administration officials in the new government that is being set set up in Afghanistan. All right, Roy. Thank you for talking tomorrow, okay? Thanks, Scott. You bet, NBC News Radio's national correspondent Rory O Neill, It is 6 42. Now, w. D. B O. Let's get five day brought to you by protect air conditioning and plumbing services is her chief meteorologist Tom Terry. Good morning, Scott. We had a pretty stormy evening yesterday. We continue to see showers and storms pop up between about three o'clock and around nine o'clock later on tonight. So expect more stormy weather for the afternoon commute. 60% rain coverage high still typical low nineties today. We're also expecting a decent shot some rain and storms on Thursday, even lingering into Friday because we have a disturbance in the Gulf of Mexico. Not very well organized early this morning, but It still has decent odds of trying to form briefly before making landfall. We think sometime late tonight or overnight, nearing the western Florida Panhandle, Keep an eye there. The next storm name is Mindy. If it were to get better organized quickly, we'll keep you posted. Either way, Moving to our north.
"$5 trillion" Discussed on Newsradio 970 WFLA
"On AM Tampa Bay. A and we're We have haven't gotten Rory yet, but we're going to hear from in just a few minutes. Uh, As he's been following the president here who Went up to New Jersey. This survey storm damage. And made some promises and things like that, But that is good. He's doing that the next thing Uh, it's still 9 11 victims. Families don't want him to come to the ceremony. On 9 11 observing the 20th anniversary, but To D. C s ceremony. And of course he's going to anyway, he's going to be visiting all three sites. Where we were attacked on 9 11, the Pentagon and pencil in the town in Pennsylvania. We got Rory O Neill right now. NBC news Radio reporter and Rory. We're just talking about Biden traveling to New Jersey to check out the storm damage. Um not much she can do about it, That's for sure. But I guess it's a good thing. He's Acting as president for a change. Well, right. Good morning, Jack. He had to make that stop in New Orleans and other parts of Louisiana a few days back as well. Yesterday he was in New York and New Jersey. Yes. You play consoler in chief. And you get your photo op, You know, walking through some Damaged building, But they also you know, really pivoted politically pretty quickly yesterday, trying to make this more about climate change, and the $5 trillion he wants to spend on infrastructure, real and human. You know, some of that money would go to solidify and improve electric grades, improve sewer systems and help you know cities like New York handle that runoff water better. But a lot of that is that human infrastructure as well, So there's a lot piled into those bills. So we really took a quick political turn yesterday. Yeah. We were talking just a little bit earlier about this thing on climate change, and he and apparently, his handlers Think that we can do something about the climate and this has been a huge issue, and humans can't do anything about the climate climate is going to be what it's going to be. And and again we're talking.
"$5 trillion" Discussed on WTOP
"The dark more than nine days after I'd as landfall Louisiana Public Service Commissioner Eric's Graymeta says many regions have made amazing progress. A response to a Category four storm, which in theory should be a 21 Day response and have the bulk of the power back on in nine days. Meanwhile, Louisiana Governor John Bel Edwards notes, We still have five parishes that have more than 95% of the power out. Dave Cohen for CBS News New Orleans While the president continues to push for that $3.5 trillion spending plan challenges, though, lie ahead in Congress, W. T. O P S Mitchell Miller on Capitol Hill. The human infrastructure plan is being turned into legislation by congressional committees, which hoped to complete the bulk of their work by the middle of next week. The ranking Republican on the House Natural Resources Committee, Bruce Westerman accuses Democrats of ignoring important questions about the cost. We're seeing this Democrat majority digging their head. Bills and refused to work across the aisle. While Democrats eventually hope to pass the plan without GOP support in the Senate, they're still trying to shore up support among members of their own party. Hawaii's had case, a centrist, says he still has concerns. It may well be that it works with the Senate. But maybe the Senate has different priorities that we need to work through. On Capitol Hill, Mitchell Miller, W T O P News and tonight we've heard from West Virginia Senator Joe Manchin privately warning the White House and congressional leaders that he has specific policy concerns with that three point $5 trillion spending plan only wants to support about a trillion dollars of it, according to Axios 1.5 trillion tops that would be on top of the $1.2 trillion bipartisan infrastructure plan..
"$5 trillion" Discussed on TalkRadio 630 KHOW
"Its Tuesday Thanks so much for starting your day with me. You know, just a quick thing. I saw this study yesterday. That was just mentioned on that national news broadcast there about The study from I think it was the University of Michigan. That claims that eating a hot dog takes 33 minutes off your life and other similar kinds of things for other foods. It takes so many minutes off your life for it adds minutes to your life. I would just like to state for the record. Although I I I just found the study and I haven't read it yet. I'm going to go through and read this after the show. Later today. Um, but I would just like to point out that this is impossible. And this study is ridiculous. And the the idea that eating a hot dog can take 33 minutes off your life. Look, if you're telling me that Um, you know, eating cyanide will take some number of minutes off my life. All right, I'll go with that. Eating a hot dog. No producer Shannon Yes. But I think the study indicates that that's at the end of your life when things are already horrible. It's not like it takes a half hour out of a really great day on the beach. Well, that is how it's being reported, though, right? And I haven't got I mean, it might say what you're saying. It says I haven't gotten to that part yet. But if you listen to that news report that just played a couple minutes ago here There. Certainly reporting it. As you know, it shortens your life. Now, By definition. If you're shortening your life, you're shortening your life at the end. I mean, sort of in the like, I guess one could posit that you're taking 33 minutes out of a nice day at the beach in the middle, But that doesn't make much sense. Right? So by by definition, I guess you'd be shorting at the end, but I'm going to go Read all of this. And I just I can tell you. That is just, um It's ridiculous. I already know that without having to read it anymore, But I will read it more and I'll come back to you tomorrow and try to help you figure out just what's wrong with it. But this is the kind of you know, quote unquote science that is just designed to nudge people and this is the stuff that I think makes people skeptical of Quote the science has been Shapiro termed it yesterday in the science Capital T Capital s. And I would note by the way. And again. I haven't gone to to look at all this. That the that the study apparently was funded by the National Dairy Council, so I don't I don't know Just what that means yet either. Did you want to say something else? Producer Shannon More importantly, today is National Waffle Day. Oh, Celebrate responsibly. Yes, indeed. I wonder where waffles fall in on this worry wart Many state don't eat this or that because your life will be shorter Nonsense. Oh, which reminds me By the way. Uh, we're gonna have lunch this Friday. You guys should come join me over at Steve's snapping dogs. And if this if this study has scared you out of eating a hot dog and scared me in the eating Eating an extra one, I think, but if it scared you out of eating a hot dog, don't you worry, because Steve has burgers and they've got the beyond burger. For those who don't want to eat any meat at all. And anyway, we're going to meet at noon on Friday. It's Steve snapping dogs and 35 25 East Colfax, and everybody who shows up to have lunch with me on Friday gets their lunch half off. Thanks to Steve and I should mention also, if you want to go try their food. He's made a very generous offer. If you show up at Steve's anytime, between now in the end of September In order lunch. They'll get you a free drink with soda or a lemonade or limeade or or even a beer if you want, But you got to tell him you heard about him from me. Yes, Producer Shannon, you're busy today. If that story was actually true that that study Joey Chestnut would have died 10 years ago, Joey Chestnut would have died like a couple years before he was born. If this study was true, Uh, I'm like I said, I'm going to go through and and To suffer the brain damage of reading all all this, So I'm gonna I'll figure out and we will. We'll go through it together tomorrow, but I'm not have to do it wearing your Abe Frohman shirt. Yes, I do. Oh, that's really funny. Oh, my gosh. All right. We have a lot of stuff to do today. You know, I don't take lots of time talking about nuts and bolt politics and political shenanigans. But I am going to mention One thing to you. You may recall several years ago, and I forget exactly what the bill was. I think it may have been a budget that the house Members of many members of the House of Representatives did not want to be on the record supporting they wanted to find a way to vote for it. While dodging. Good shot Ross while dodging I just threw up, Uh, straw wrapper into a trash can across the room and and, uh, made it on the first shot. Not as good a shot as Shannon. His very, very good at these things, but So you may recall some years ago. That there was a little bit of hubbub and I think I was probably part of it on this show, talking about a tactic that the House of Representatives was engaging in called deeming, and I forget it was It was something and deem. Uh, Bill as passed and The House leadership yesterday, Democratic leadership and Nancy Demon passes what is called and what it means is They pass something that they call a self executing rules. Now. I think we should past self executing Taliban members. That would be much better, right? They just you know they'd go get an American gun, and there'd be something in the American gun that would cause them to be self executing. And they could use that lovely new M 16 to put a hole in the back of their own heads. But I digress. So let me let me go to Wikipedia. The self executing rule, also known as Demon Pass is a procedural measure used by Congress to approve a legislative rule that contain such a provision. The house then deems a second piece of legislation is approved without requiring a separate vote as long as it is specified in the rule, that is If the vote on the rule passes, then the second piece of legislation has passed as part of the rule vote. So this is a way for cowardly members of the house to try to vote on something that they know is unpopular, and they don't actually want to be on record voting for it. This gives them cover to vote for it without actually having to say. That they voted for it. They can say so. You know, the budget never came up for a vote, and I never voted for the budget. When in fact what they did was they voted for a rule on the House floor that passed the budget without actually voting on the budget, and it is a really scummy way to pass legislation and no way to No way to run a business. No way to run a government. It's really pretty nuts. And this is what Nancy Pelosi tried to do yesterday. So here's the thing. We've talked about this a little bit, but I just want to make sure you're all Up to speed so Nancy Pelosi knows that if the bipartisan infrastructure building already passed, the Senate comes up for a bill in the house. Not only will it pass, but it will also reduce the incentive. For moderate Democrats to vote for the Democrats ginormous approximately five trillion they call it 3.5 trillion, because they're lying about how it will actually work. This $5 trillion massive expansion of the welfare state. Which is really what that second bill is. It is not infrastructure. They call it, you know, human infrastructure and yada, yada yada. It's just a giant expansion of the welfare state. Pelosi knows that her majority in the house is so slim. That there's a good chance she could Maybe not get that $5 trillion thing passed. I guarantee you, not a single Republican will vote for it. So if she lost just four Democrats, I think that's the number right now between resignations and people going to work for the Biden administration. I think if she lost four Then she then whatever it is that she's trying to pass won't pass, assuming there's no Republican votes for it, so What Pelosi tried to do yesterday. There are now I think 10 moderate Democrats on record saying, And they even wrote an op ed to this effect, saying, Let's take the win on infrastructure on the true infrastructure bill, which, by the way, I do not support All right. It's a lot better than the $5 Trillion thing..
"$5 trillion" Discussed on AP News
"Thousands of construction jobs. But President Biden halted it over local environmental issues and overall concerns that burning oil sands crude would worsen global warming. I'm Jacki Quinn and I'm Rita Foley. AP News I'm Rita Foley with an A P news minute. It's good news, say experts President Biden's plan to share 500 million more doses of the Pfizer vaccine with the developing world, but some say it would take more than donations alone to address huge vaccination gaps. Threatened to prolong the pandemic are Karen Shamas has this one preventative medicine professor in South Korea? You Han Young says Although the move will make a huge difference to fighting the Corona virus around the world, he also forces problems. The fires of vaccine needs extremely cold storage temperatures, which experts believe would present challenges for countries with poor health systems. Many experts say the donation is crucial because the global disparity contributes to the creation of mutant viruses as well as creating a $5 trillion economic loss for advanced economies. I'm Karen Shamas, president Biden's in Britain today, where he'll meet with British Prime Minister Boris Johnson. Ahead of tomorrow's G seven summit. I'm Rita Foley. This is a P news. I'm Rita Foley. Health officials overseas are welcoming the news that the U. S. Will share 500 million more doses of the fighter covid vaccine with the developing world, but there are concerns. Karen Shamas is in Britain, where President Biden is announcing the covid giveaway today. Ahead of the G seven summit tomorrow. A South Korean professor preventative medicine, Jihan Young, said the new doses could prove to be a turning point in the global fight against Covid 19. But he was concerned about the storage issues of the vaccine. The professor said The extremely cold storage temperatures required for Pfizer shots would prevent challenges for countries with poor health systems. He called for U. S officials and the New York based drugmaker to explore the possibility of easing the requirements. I'm Karen Shamas. The World.
"$5 trillion" Discussed on AP News
"Called for U. S officials and the New York based drugmaker to explore the possibility of easing the requirements. I'm Karen Schama's This is a P news. I'm Rita Foley. President Biden is announcing today that the U. S. Will buy 500 million more doses of the Pfizer vaccine to share with poorer countries over the next year. He's in Britain on his first overseas trip as president are Karen Shamas is there too? And she says, although many are welcoming the news about the vaccine, one preventative medicine expert has some concerns. One preventative medicine professor in South Korea, Johan Young says although the move will make a huge difference to fighting the Corona virus around the world, he also foresees problems. The fires of vaccine needs extremely cold storage temperatures, which experts believe would present challenges for countries with poor health systems. Many experts say the donation is crucial because the global disparity contributes to the creation of mutant viruses, as well as creating a $5 trillion economic loss for advanced economies. I'm Karen Shamas on landing in Britain last night, the president addressed US military members. President Biden is making the first move to reassert the country on the world stage. The president was greeted by By American troops that a Royal Air Force base in Britain. His message to the United States is back. This is the president's first overseas trip in office heading to the G seven, then to the NATO ministerial and then To meet with Mr Putin to let him know. What I want him to know that summit with Russia's Vladimir Putin is next week in Geneva. I'm Ed Donahue. Top European Union officials are joining calls to investigate the origins of the Covid 19 pandemic, ramping up the pressure on China to be more open about the virus. Just into his word that the pope is refusing to accept the resignation of a German cardinal over a sex abuse scandal. A dilapidated building collapsed overnight in Mumbai, India. Following heavy rain. At least 11 people were killed, others injured, say authorities This is a P news. The wife of the notorious Mexican drug kingpin El Chapo is expected to plead guilty in federal court today as part of a plea deal. Here's Our Jackie Quinn, the wife of Joaquin El Chapo Guzman, faces conspiracy charges in the U. S for allegedly helping her husband run his multi billion dollar criminal enterprise. Emma Coronel Ice borough had previously pleaded not guilty after being charged with conspiracy to distribute cocaine, methamphetamine, heroin and marijuana. She'd been arrested. Earlier this year in the Washington area airport. Prosecutors say Coronel Ice Borough worked closely with the command and control structure of the Sinaloa cartel and conspired to distribute large quantities of drugs knowing they'd be smuggled into the US Jackie Quinn Washington A nun in Los Angeles has agreed to plead guilty to stealing more than $800,000 to pay for a gambling habit. I'm Rita Foley. AP News I'm Rita Foley with an AP News Monette President Biden's in Britain this morning preparing for tomorrow's G seven summit. Also on the agenda for this trip, a NATO summit a meeting with Queen Elizabeth, among others. Today, he'll meet with British Prime Minister Boris Johnson, a man he once called a physical and emotional clone of Donald Trump. The president told US troops at Royal Air Force Milton Hall last night. This diplomacy is essential. There's no single nation acting alone. Can meet all the challenge we face today because the world is changing. Today. The president's announcing that the U. S. Will donate 500 million covid vaccine doses around the globe this morning. Experts in Asia are welcoming that news, although one says he wishes it had come earlier. Next Wednesday, President Biden visits Geneva to meet with Mr Putin to let him know What I want him to know. I'm Rita Foley. Thank you for listening to the AP Radio Network. Hey, did you know that The Associated Press produces news related books? Here's.
"$5 trillion" Discussed on AP News
"This is a P news. I'm Rita Foley. President Biden is announcing today that the U. S will buy 500 million more doses of the Pfizer vaccine to share with poorer countries. Over the next year. He's in Britain on his first overseas trip as president. Our Karen Shamas is there too? And she says, although many are welcoming the news about the vaccine, one preventative medicine expert has some concerns. One preventative medicine professor in South Korea, you Han Young says, although the move will make a huge difference to fighting the Corona virus around the world, he also forces problems. The fires of vaccine needs extremely cold storage temperatures, which experts believe would present challenges for countries with poor health systems. Many experts say the donation is crucial because the global disparity contributes to the creation of mutant viruses, as well as creating a $5 trillion economic loss for advanced economies. I'm Karen Shamas on landing in Britain last night, the president addressed US military members. President Biden is making the first move to reassert the country on the world stage. The president was greeted by By American troops at a Royal Air Force base in Britain. His message to the United States is back. This is the president's first overseas trip in office heading to the G seven, then to the NATO ministerial and then To meet with Mr Putin to let him know. What I want him to know that summit with Russia's Vladimir Putin is next week in Geneva. I'm Ed Donahue. Top European Union officials are joining calls to investigate the origins of the Covid 19 pandemic, ramping up the pressure on China to be more open about the virus. Just into his word that the pope is refusing to accept the resignation of a German cardinal over a sex abuse scandal. A dilapidated building collapsed overnight in Mumbai, India. Following heavy rain. At least 11 people were killed, others injured, say authorities This is a P news. The wife of the notorious Mexican drug kingpin El Chapo is expected to plead guilty in federal court today as part of a plea deal. Here's Our Jackie Quinn, the wife of Joaquin El Chapo Guzman, faces conspiracy charges in the U. S for allegedly helping her husband run his multi billion dollar criminal enterprise. Emma Coronel Ice borough had previously pleaded not guilty after being charged with conspiracy to distribute cocaine, methamphetamine, heroin and marijuana. She'd been arrested. Earlier this year in the Washington area airport. Prosecutors say Coronel Ice Borough worked closely with the command and control structure of the Sinaloa cartel and conspired to distribute large quantities of drugs knowing they'd be smuggled into the US Jackie Quinn, Washington None in Los Angeles, has agreed to plead guilty to stealing more than $800,000 to pay for a gambling habit..
"$5 trillion" Discussed on NewsRadio KFBK
"And activist Alyssa Milano says that she's considering running for Congress in 2024 in California's fourth district. Against Republican representative Tom McClintock. Olano says she splits time between Truckee and Bell Canyon. She says she expects to make a decision after the 2022 midterm elections. Another California Republican, is considering a run for governor in the upcoming recall election of Gavin Newsom Cave because John Liu Bertini has details, Assemblyman Kevin Kiley has been a fierce critic of governor Gavin Newsom. Well, I didn't have the recall is all about flipping the entire paradigm of our state's politics. Now the Rockland Republican is getting a push. Towards the governor's office. We have a state capital that is entirely captured by special interest groups that run by lobbyists and special interests. Kylie is no wallflower. He took avenues from the court and wrote an E book called Recall Newsom. The case against America's most corrupt governor. The recall is a movement to reclaim control of our state government that serves the public interest rather and special interests. Carly's made no firm decisions, but the deadline for declaring is 60 days before the election, an election date that hasn't been, said John Liberty News. 93.1 KFBK Governor Newsom State budget proposal would set aside $650 million for new incentives to buy electric cars. Newsom's budget plans to increase the number of electric vehicle charging stations as well around the state governor, Newsom issued an executive order that would ban the sale of new gas powered passenger cars and trucks. By the year. 2035 2 weeks after a disgruntled Vita employee fatally shot nine of his colleagues at a rail yard near downtown San Jose Mayor Sam Liccardo has unveiled a plan to enact controversial measures that would require gun owners to carry liability insurance and retailers to video record their firearms sale. If the City Council approves the plan, San Jose could become the first city in the nation to put gun liability insurance into practice. The statewide drought is leading to new concerns about power outages and water conservation in California. KFBK is Johnny D'Agostino, he reports water levels at lakes and reservoirs are so low the water authority in the Sacramento area is asking residents to reduce usage by 10%. However, conservation enforcement is tricky. Most local officials know if prolonged heat waves occur this summer. The only way to enforce conservation will be if the governor declares a statewide emergency. As for power outages, Elliott Mainzer from callous, So says, Even with the reduction of hydropower from depleted lakes, he's guardedly optimistic that blackouts will not happen. Johnny de Agostini was 93.1 kft game. Top congressional negotiators for the Republican Party say President Biden late yesterday broke off negotiations on his massive new spending package. The Democrats appear to be poised to go it alone and try to get it passed through Congress without bipartisan cooperation. Among the top Republicans, who say it's doomed is Senator Lindsey Graham, a Republican from South Carolina. And here's what he said in a committee hearing. It's our featured audio clip this hour. What does this budget do? Over a 10 year period? It increases $5 trillion in additional spending. On top of or already spent five tree in over 10 years It raises taxes to 3.6 trillion What does that mean? For everybody working out there? This budget will come to your neighborhood soon. There's just not enough one percenters to bear. All the load of this in terms of debt to GDP will be at 117%. Highest since World War two. What does it do in terms of taxes? 20% of GDP will be taxes. The highest level in the history of the country. And we're competing in a world where people are trying to be. More competitive. Businesses can go anywhere in the world. To do business, and I think a lot of them will be choosing another spot other than the United States Castle will drive them offshore. This tax and spend budget will break the back. Of our economy. And will destroy future generations. Ability to Achieved the American dream that most of us have had a shot at Lot of numbers there to wrap your brain around. But the bottom line is this. We are going to be paying dearly for all of this spending in the years to come. When you think about that 20% of the gross domestic product in this country will be spent on taxes 20 cents of every dollar. Just to pay the debt. I mean, it's just amazing the level of spending this taking place Now this comes on the heels of word that came last night. That President Biden had called off talks with the group of Republican senators on his massive spending plan, so those negotiations have fallen apart. Now there are a number of different groups that are trying to get together. Maybe work with the president on this plan to move it forward. But the plan as it was originally designed, Um it still remains in place, but what it's going to look like we don't know. But it is it's a big old spending. It's big. It's just enormous, right. Not at controversy here, not controversy. But what taxes is basically what's at the heart of this that Republicans, one of the issues one of the issues that you know the other issue is, I mean, are you spending on infrastructure or you spending on a whole host of social programs that you want to push through? That's that's a hang up as well. So there are a number of issues at play. No question. Let's get you caught up on this hour's top national stories on news 93.1 kfbk from.
"$5 trillion" Discussed on KLBJ 590AM
"Democrats walked off the floor of the state House of Representatives until there weren't enough members under 100 toe hold the legal vote on the bill. Democrats staged a walkout before the midnight deadline. The bill would have pushed expanding liberties for poll watchers and reducing polling hours while limiting mail. In balance. The governor had been expected to sign it. Opponents argued the bill would have disproportionately affected minorities and voters with disabilities. Foxes, actually Stromeyer Israel's Prime Minister, Benjamin Netanyahu, could be pushed out this week by leaders of two other parties joining forces Neftali Bennett announced that his you mean a party is forming a coalition with the centrist Atid Party and their leader. Yeah, here. Lippy, who used to be a news anchor here in Israel to politicians in this coalition, now called the government of changed have little in common other than their staunch opposition to Netanyahu, Fox's Mike Tobin. Americans listening to boxing. You're listening to the best of Todd and don on NewsRadio. K O B. J taught him Don show is on the air. Join the conversation at 51283605 90. Now you are. Tyler died. 5 36 time, Jeffries and don prior. Good morning, ladies and gentlemen, you have found the top dog show No, and you could jump in any time you want at 51283605 90. Yeah, jumping with some of the day's top stories. That's what we begin this morning. As you know, Joe Biden is set to propose I $6 trillion budget that would take the United States to its highest sustained levels of federal spending since World War two and hey looks to find the sweeping economic agenda that includes large new investments in education, transportation and, of course, fighting climate change. That's where we begin this morning with newsman Griff Jenkins on the story. Hey, big spender. The president wants Congress to bust open the checkbooks big time, leaving a gap between his proposal in the Joe piece $5 trillion worldwide to be exact. Let's take a look at what's in this. You see major boost for everything, essentially infrastructure, education, transportation, health care. And combating climate change. The president made a case for it in Cleveland yesterday. Father Mine is this Biden economic plan is.