35 Burst results for "74%"
Dr. Robert Lustig: "Sugar Is Not a Food"
"Say food drives both illness and wellness is the poison and the antidote so what's happened to our food what what's taken it from my great grandparents had a farm they had chickens garden they ate real food and so in the last what 120 years throughout history we've changed it messed with it it's not food anymore. Exactly so the question is what's the definition of food answer go to the dictionary here's the answer substrate that contributes either to growth or burning of an organism that's a great definition it's a fine definition I am 110 % behind that definition okay growth or burning exactly right okay so let's take burning first turns out fructose actually inhibits burning now people say fructose is four calories per gram yeah that's if you blow it up in a bomb calorimeter if you add it to a mitochondria and it actually inhibits burning and that's how we burn so you actually reduce the amount of burning because you inhibit mitochondrial function and fructose does it three ways it inhibits three separate enzymes involved in how mitochondria burn energy I won't bore your audience with the details right now that's a little too much science a little bit too much inside baseball but you know we have the data and it's the same thing that happens to alcohol it's in fact it's the same reason that aspirin causes rise syndrome and we don't give aspirin to children anymore because you know we don't want them to basically die a fatty liver disease so the bottom line is sugar it actually inhibits burning okay now let's take growth my colleague at Hebrew University Jerusalem Dr. Efrat Monsonigo or none has shown in several papers now that ultra processed food and in particular sugar actually inhibit growth inhibits skeletal growth it inhibits trabecular cortical bone growth inhibits long bone growth and it actually hijacks growth because it actually feeds cancer cells so if a energy substrate does not contribute to growth and does not contribute to burning is it a food well alcohol is an energy substrate 7 calories per gram it does not contribute to growth and it does not contribute to burning is it a food no transplants are 9 calories per gram they inhibit mitochondrial function they inhibit growth are they a food no so just because something's an energy source doesn't make it a food right sugar is not a food it is a food additive when you think of it that way then it turns the whole table on exactly what it is we're eating because ultra processed food is high sugar food and the reason is because the sugars been put in for palatability it's been put in to make you eat it because if you taste it that ultra processed food without the sugar that's been added to it and sugars added to 74 % of the items in the American grocery store on purpose you know for the food industry's purpose is not for yours you would never eat that it would taste like garbage so yeah bottom line sugar is not food
A highlight from The Mike and Mark Davis Daily Chat - 09/25/23
"Were you hardwired into this program Mike? Kinda, yeah. This was an actual hit. The theme song of this was an actual hit on the actual radio in 1976. We have a happy day's cast birthday. That would be Potsy. Potsy is 74. I have no idea how old Ralph Mouth is. Well, they're all in their 70s. It's a weird birthday too because Mark Hamill, virulent liberal Luke Skywalker, he is 72. And you know, you just pause, you stop and you think about the career and what happened. The great Christopher Reeve would have been 71 today. That 1995 horse accident, man, I still haven't scrubbed my brain of that and what heroism and activism. So anyway, big showbiz birthdays. A lot going on in the news. You want to do some new stuff or the book, the article? Well, let's do both. Yeah, the book comes out this week, the Fox News book, but let's start, let's not bury the lead. This Washington Post poll has people in hysteria. I mean, they are running through the streets of DC with their hair on fire. This is kind of unusual. I've never seen a media organization like the Washington Post produce the results of a poll and then trash their own poll and bang on it. Right. It's an outlier. This can't be real. This can't be right. I mean, it's devastating news for Biden if it's to be believed. Now let's face it. Polls are quirky. Here's why polls kind of matter. We kind of, they don't. The reason they don't matter is because Lord knows we saw polling about the big red wave in 2022 and that didn't quite work out for us. So let's remember before we get too excited about polls that they are subject to change dramatically. But here's where it does matter. It does give a person like Donald Trump momentum. There is an appearance of momentum. There is the facade of surging and momentum, which kind of feeds upon itself. It just, it just snowballs. So it's real. I mean, it's very, very, it's very, very palpable. And it becomes even more and more unlikely that anybody's going to overcome him. But we never know. A lot can change. We still could, we still could change. How about the debate Wednesday? I heard you mentioned driving in. I thought I saw Burgum. Yes, you did. I rectified that a couple. He did. He managed to get 3 % in Iowa, 4 % in New Hampshire. Speaking of polls I'm skeptical of, there's one, but bless his heart. He seems like a good guy. It seems to be wasted time. I have a very short appetite for wasted time. How about wasted money? How about the money he's spending on the ads? You know what those ads cost? I know. And they're all, I see, I see six Doug Burgum ads every day on Fox news, speaking of Fox news. Every ad I see on Fox news for Doug Burgum, I think how many families of police officers would that help? Or how many poor people would that feed? Or how much, how much of a border wall would that fund? It's his money. I know he can do what he wants. But what a waste of money. It seems to be. Unless, unless he comes in third in Iowa or New Hampshire, kind of punches a ticket out of the month of January. And I mean, stranger things, well, not many stranger things have happened, but then maybe, maybe he ends up with some, how old is he? Is there running mate buzz? You're not going to have a North Dakota running mate buzz. There's not buzz about him over here at the 7 -11 down the street from the airport. Buzz. There's no Doug Burgum buzz. Here's the conspiracy buzz about the Washington Post poll that you just mentioned is that this is on purpose. They want to show Biden as desperate so that in the liberal and the Democrat ivory towers, they can really get the ball moving on replacing him with somebody who might have a prayer of winning. So that's not without some merit. I mean, you know, they got to be sitting around saying, this is our guy. I mean, last week at the UN, at one point it was utter gibberish. And you're looking, I'm thinking my Lord, that's the commander in chief of the United States of America. So the Democrats have to see this. Mark, no way he'll be the nominee. No way he's going to run. Shall I ask you? I mean, okay. I'll ask you again. It's a flow chart.
Bidenflation Causes Drastic Number of Americans to Live in Poverty
"Stark increase from 2021 when 7 .8 percent lived in the poverty level. Now think about that when he says, it's working. Binomics is working. And the Democrats go on even they tell you what a success it is, how the economy is doing great. 2022, 12 .4 percent of the population lived at or below the poverty level. 2021 it was 7 .8 percent that is a massive increase. Now the data also found that inflation surges outpaced the average pay raises of workers in 2022, counting for the third consecutive year under Biden, that paychecks didn't go as far as they once did. Inflation adjusted median household income suffered 3 percent decline, adjusting to $74 ,580 in 2022. Now compared to 2021, the average was 76 ,330. It has fallen by 4 .7 percent since its high point in 2019, a year before Biden took office. In addition, the consumer price index was 6 .5 percent higher than last year, according to a report released by the Labor Department. Since Biden took office, inflation has risen 13 .7 percent since the beginning of the pandemic. Pretty damnable, don't you think? If the Republicans could stop fighting with each other, they may actually have a case here. But God, Biden continues to as like Americans, insisting his economic plan works. Quote, this morning we have some good news, he said recently. stop fighting with each For American workers and families. Well, the American people aren't
A highlight from Why China Is PUMPING BITCOIN RIGHT NOW! ($33700)
"Right now, something very, very, very interesting is happening in China. Right now, if you were buying a Bitcoin in China, it's going to cost you $32 ,500. And what that's actually doing is it's causing the Bitcoin market to go up. It's causing the Bitcoin price to go up. So we've got Bitcoin trading at $27 ,318. And I think this pump is actually being led by China. And I'm going to show you in this video why I think the pump is coming from China. Also you will remember that in the beginning of September, when September started, a lot of the analysts came out and said that Bitcoin was going to finish September negative. They came out and they looked at the chart, they looked at the data from all the previous Septembers. And what they said is because all the previous Septembers had taken Bitcoin down, well, we can assume that Bitcoin is actually going to finish down in September. I came out and said, no, you guys are going to get a surprise in September. And actually, Bitcoin is going to finish up in September. And that's exactly where we're at. Right now, as we stand, we are 4 .74 % up in September. And I think that we're going to go much, much, much higher in September. I'm going to show you why. Some of it's in the chart, some of it's in this little trend that's just been broken. But there's a lot of other fundamental stuff that's happening that may actually push Bitcoin much, much, much higher in September. And the interesting part about this being Bitcoin pumping higher now is that we're getting Bitcoin pumping higher at a time when the Dixie is also above 105 and actually pumping. And this is all happening on the same week that the FOMC is happening. So, this is the first FOMC that we've had in two months. And on this FOMC that's happening right now, you're getting Bitcoin pumping. So, does someone know something? Is the Fed going to shock us this week? That's what we're going to be talking about today. We actually had quite a big different kind of show today because, I mean, you can see I'm still in Singapore. But I'm going to bring you a different kind of show because there's a lot of stuff happening today. And we also got to look at the altcoins because if I look at the altcoins right now, let's just quickly look at those altcoins. I did see that there were some crazy moves in the altcoins, specifically when I toggled to the one hour. Okay, there are some moves happening. So, we'll look at the altcoins as well today on the show. We've got a big, big, big show today before I leave Singapore to get back home so I can be back in the studio and bring you the crypto live from the studio. Anyway, guys, let's go, go, go. Let's do this.
A highlight from Who Is Worse? Blackrock Or The Catholic Church (Biggest Money Cartel In History)
"Are you ready to wage a war without end against you? Are you ready to wage that war armed with nothing but bottomless poverty? I didn't think so. In that case, stop talking bullshit. And get yourself some shoes, because the air in here is unbreathable. Money corrupts, and that's not news. Today, it's Black Rock, Vanguard, and State Street. But not too long ago, there's an entity that held even more power than those multinational conglomerates. We're going to take a step back in time to the Catholic Church of the Renaissance and learn how it basically controlled everything it touched and how the game has stayed pretty much the same through the 21st century. We may just find similarities to how banks, hedge funds, and the uber wealthy elite wield political power today. Let's get it. Now, before you get your commenting fingers twitching about how I'm being mean to Catholics, know that I'm just talking about a political institution 500 years ago. I'm not talking about Catholicism as a religious practice or the church today. You do you when it comes to religion. This is America. Okay, now let's get back to the Renaissance. One big similarity the old school church has with our tradfi overlords is the emphasis on secrecy. Both institutions are shrouded in mystery. No one really knows their entire net worth or their intentions. Well, other than maintaining the status quo so they can rake in as much money as possible, both the Catholic Church and the banks have covered up scandal and corruption time after time so they can continue business as usual. Back in Da Vinci's time, there are all sorts of rumors of popes and other church officials not exactly keeping up with the Christian morals they were preaching. There is abuses of all kinds, incest, orgies, mistresses, bribery. We're not even talking about the polycule. You name the sin, the Renaissance popes were probably doing it. There is even a pope who supposedly drank children's blood. And that same corruption seems to be rampant within the banks and hedge funds in modern times. JP Morgan was found to be handling the payments between Epstein and the people he was trafficking with. In fact, the number of billionaires with connections to Epstein are startling. What were you doing on the island? And we'd probably hear more about similar corruption and scandals within Black Rock, Vanguard and State Street if they didn't own basically every news organization in the US. But we'll get to that a bit later. For now, the big boys just pay a lot of fines for doing bad things. And that brings us to the first tool you need if you want to control everything. Here's a hint. It's all about the money. Have you ever heard the phrase, money is power? Well, I'm pretty sure the Renaissance Church invented that concept. Most economists reckon the wealth of the modern day Catholic Church is actually immeasurable due to all the priceless artwork, artifacts and the money laundering going on. And the reported $30 billion net worth is still high despite countries going through a Protestant Reformation during the Renaissance and subsequently reclaiming church lands. So just imagine how much land and property the church owned back when Catholicism was the only thing on the Christian menu. Although it's really hard to know for sure just how much cash the pope was raking in during the Renaissance, economists estimate it would be a little over $40 million annually in today's terms. And remember, this income doesn't include the land or artwork they're receiving as gifts or claiming by force. This gave the pope the kind of capital countries are usually playing with. And thus, the church had the same power as monarchs. Some would argue even more. And folks, we may have ditched the funny tights and corsets or maybe you have, but we have the same kind of issue today. Vanguard, Black Creek and State Street manage almost $20 trillion, which is almost more than the U .S.'s GDP. And not only do they control more wealth than most countries in the world, those hedge funds are also managing wealth for countries, which creates a vicious, incestual cycle of corruption. Back in 2016, Forbes reported that the wealth gap is worse today than it was in the Middle Ages. And that's not very hard to believe when we know the top 1 % holds 15 times more wealth than the bottom 50 % of America. And during the COVID lockdown, the 10 richest billionaires doubled their fortunes, while 160 million people fell into poverty. So how did both the uber wealthy of the modern day and the ancient Catholic Church amass this kind of wealth? Well, the church had millions of people tithing 10 % of their income. Doesn't this sound a bit like the interest we pay banks on loans and banking fees? And 10 % is nothing in comparison to the types of interest we pay just to exist in the modern world. The highest credit card is over 30%, and most of us are paying somewhere in the 20s. And because the Fed is raising rates, other borrowing is getting more expensive, too. Student loan rates have increased, and taking out a loan to buy a home is nearly impossible these days because rates have almost tripled. mortgage rates haven't been above 6 % since the housing crisis in 2008. And yet, somehow, it's only us plebs who are paying these kinds of rates to borrow money. The corporations like BlackRock and JP Morgan take out loans with nearly 0 % interest. In fact, the wealthier you are, the less banks deem you as a risk. So you get the best rates. But in reality, this turns into a vicious cycle where the hyper wealthy hoard more money and the poor can't afford to borrow. Right now, the average interest for a personal loan is between 6 % and 36%, where the average interest for businesses is 2 % to 13%. Interest is leveraged against the average American the same way the Catholic Church used to leverage Ursary Usury is the practice of charging interest, and it used to be the biggest sin you could commit. But the church got creative with how it weaponized usury. It didn't go after wealthy banking families like the Medicis, who supplied the church with gifts and managed church money for free. The church conveniently cracked down on the practice so that the lower classes wouldn't have access to the extra capital that would give them the opportunity for upward mobility. It's wild how the past is so similar to our present. Why do you think day traders and TradFi have to keep at least $25 ,000 in their accounts? Supposedly, it's to protect the poor from the volatility of the market. But the way I see it, it's just another method of keeping smart people from changing their economic circumstances. And who do you think pressured the SEC to create that law in the first place? I'm willing to bet it was a giant money manager like State Street, Vanguard and BlackRock. They would like to have a monopoly on trading and hand all of us regular Joes a measly little 0 .01 % or whatever the bank interest is these days. I say no. And I want more than a toaster. And speaking of monopolies, the Catholic Church had a monopoly on salvation during the Renaissance, so people couldn't exactly go around negotiating that 10 % tithing rule or what exactly counted as a sin. It's really similar to how we can't really negotiate modern prices in this supposedly free market. The monopoly aspect is something the church and our wealthiest modern day corporations have in common. Look at the bank failures recently. Despite Jamie Dimon claiming the smaller banks are good for our financial ecosystem, Chase was very quick to gobble up the banks that went under. If we weren't there already, we're scarily close to a bank monopoly. Another way the Catholic Church made money was selling indulgences to rid the nobility of their sins. The Renaissance nobility were up to some shady things too and needed to be seen as moral so they could stay in power. The most corrupt nobles could buy a spot in heaven by donating land or commissioning artwork. Doesn't this feel a lot like government subsidies and contracts for major corporations? Hey, you want to look like you support green energy? Give Elon Musk millions to play with. Oh sure, Blackstone, we'll subsidize your billion dollar debt with taxpayer money because it makes us look like we're stimulating the economy. No problem. Another modern means of absolution is corporations using carbon credits to pay off their climate sins. This is how companies like Exxon have a higher ESG score than Tesla. They know who's palm to grease. Another great way to amass incomparable wealth is to be able to claim yourself as tax -free. If you can pull that off, it's an amazing feat. Just ask the NFL. Throughout history, the Catholic Church found ways to skirt taxation by the state and that practice is alive and well today. Do you think Bill Gates and Jeff Bezos are paying income taxes? I hate taxes. You hate taxes. We all hate taxes. But in our current society, we pay them. And it's a little more than unfair that the wealthiest among us are acting like they're tax exempt. Both the mega wealthy and the Catholic Church of the Renaissance controlled education and access to information. So kind of like mind control. The church kept their religious texts in Latin to keep the masses from being able to access it themselves. We already talked about how they also chose a lot of their sins to maintain the status quo in social hierarchy. It's a sin if you don't hit the like button. Similarly, corporate lobbyists have forced the government to slash education funding. That combined with other factors have made tuition exorbitantly high. We already talked about the student loan issue. Most people can't even afford college anymore. And if you take your education into your own hands by trying to stay up to date on news and media, you'll quickly realize almost every media company is owned by major corporations who have BlackRock and Vanguard as their primary investors. So you can't always trust what they're telling you because they have an agenda to stay in power. That's why it's hard to find information on the full extent of the corruption of the likes of BlackRock and Vanguard. I'm sure many reporters have pitched stories that have been shut down by the shady higher -ups. But here at BitBoy Crypto, we're proud to bring you the content that can't be bought by dark Wall Street money. Finally, that brings us to the third way the church and finance sectors control the world. It's not what you know, but who you know. And you know me. And I know you know that I know you. Political wheeling and dealing. And if that doesn't work, position your family members in places of power. Every royal court and government had pupil ambassadors that would ride back and forth through the Vatican and other church lands negotiating with church officials. That sounds a lot like a very early version of a lobbyist to me. And because as the head of the church, the pope had immense power, he was able to recommend marriages, which usually involved installing a member of his family at a high position. Pope Alexander VI married his daughter, Lucretia Borgia, off three different times. He simply annulled her first marriage when her husband was no longer politically advantageous and the Borgias may or may not have been responsible for murdering Lucretia's second husband. Pope Clement VII married one of his family members, Catherine de Medici, to the future king of France, which was a helpful political alliance during a time fraught with Protestant uprisings. This should all sound very familiar because the majority of our politicians, no matter the political party, have familial or social ties to banks, hedge funds, and the uber wealthy elite. There are so many examples of this, we can't list them all, but here are a few to sink your teeth into. George W. Bush had an uncle who provided discreet banking services for people in Washington, DC, and his brother Jeb also worked in banking before politics. Then you have the Clintons, whose son -in -law is an investor at a Texas private equity firm. Trump is friends with all sorts of sketchy billionaires across the globe. And look at Jared Kushner. And then you have Biden, whose son Hunter has been a hedge fund principal, venture capitalist, private equity fund investor, and painter. And now we have even more of Jamie Dimon's shenanigans. He doesn't have enough power running the largest bank of America. He's thinking of going into politics? And remember, guys, political corruption is like an iceberg. The evidence we have is just the tip due to how good they are at covering their tracks. And the Renaissance pope's habit of just making princes is exactly what our financial overlords do today. Pope Leo III crowned Charlemagne the Holy Roman Emperor out of nowhere, and Pope Alexander VI made one of the sons he had with his official mistress, a prince who supposedly inspired Machiavelli's The Prince. I don't think he inspired the artist, though. BlackRock and the likes are making princes, too. This is where we get into the modern day campaign financing, where it costs millions to be democratically elected prince. In 2016, only 158 families controlled 50 % of campaign financing. Our biggest banks spend millions on campaign financing for Republicans and Democrats every year, and that's just the money they actually report. There's a bigger, more illicit pool of dark money that controls politics. And if you think they're spending billions on these politicians just to be nice, think again. Nobody spends something for nothing. Billionaire Bernard Schwartz is quoted as saying, I don't ask politicians to do what I say. I want them to hear me when I have a problem. And according to Vanity Fair, BlackRock's CEO Larry Fink loved to go around saying that he told Washington what to do. Doesn't all this sound a bit like the Catholic Church saying, Well, you technically can do what you want, but if you don't do what I say, your soul will spend eternity in a very hot, not -so -nice place. You don't want to know where that poker goes. And now we get to number four on our list. It is better to be feared than to be loved. Also known as scare tactics. If the immense wealth, information control, and political corruption wasn't enough to scare the living daylights out of you, the Renaissance Catholic Church took it to a whole other level. The way the church portrayed hell through artwork and story was absolutely terrifying. Of course you're going to do whatever the Pope says to save yourself from eternal damnation. And the banks and hedge funds do this too. Make sure you have an IRA because if you aren't getting our measly 5 % every year, how will you possibly be able to retire? Don't worry, that number barely covers inflation on a good year. And if you don't buy things with credit cards or open a car loan and pay his interest, you won't have credit to buy a house later. And finally, this one's my favorite, guys. If you don't bail us out, the entire world will explode. We're too big to fail. And now we get to the final element you will need to succeed at controlling everything. Drum roll, please. Military power. Plato said, All wars are fought for the sake of getting money. And folks, he was probably right. The Pope would also deem certain wars holy and approve military actions. When Henry VIII left the church, the Pope excommunicated him and told his people that rising up against him was holy because he'd gone against God. Pope Alexander VI issued the Enter Saterra, which authorized Spain and Portugal to colonize, convert and enslave the Americas. And sometimes the Pope would even command armies himself. Did you know the Pope raised and commanded the army that was responsible for the Crusades? So I guess that we can be thankful that the hedge funds and banks haven't started raising their own armies. But then again, why would they when they have the entire government under their thumb and they could spend the free time bathing in gold? Today, massive corporate institutions lobby in favor of warfare because it benefits them financially. Corporations have made billions from the war in Ukraine and the Iraq war was conceived to financially benefit oil companies and their investors. Just look how much BlackRock has invested in military weapons. $56 .74 billion. And you can't tell me they don't have a financial interest in the military industrial complex. That was a lot of info, guys. And I'm impressed you stuck with us for this trip down History Lane. I don't want to leave you on a gloom and doom note, however. Here's the bright side, folks. The Protestant Reformation did come as a reaction to the Catholic Church's corruption and power. And hundreds of years later, the church is still powerful. Nowhere near as powerful as they were during the Renaissance. We have the same opportunity to throw off the yoke of the banks and hedge funds that control our current financial system and government. That's where crypto comes in. No matter how much they try to manipulate the market, they can't control our gains, especially when we think long term. Do your research. Find out who the biggest investors are in the companies you buy from and patronize smaller businesses. Take your business or credit unions instead of feeding the pockets of the giant banks. Really question what politicians are telling you and push for campaign finance reform. This is a potential future where we all are free. That's all I have for you guys. DZ out.
Defining Mindfulness With JJ DiGeronimo, President of Tech Savvy Women
"Some things that you like to talk about. You talk about mindfulness and using mindfulness as a superpower. And what do you mean, like, mindfulness? Because I know a lot of people hear the word, it's a buzzword, but they might not really know exactly what it is that you mean by that. Yes. And I think it's important to talk a little bit about like, I had to do a lot of things to work through the stories that were holding me back, the self -doubt that popped up all the time that really kind of drove a lot of my decisions. And really just how I moved through life. And I realized I was obviously, you know, in my work profession, things were going well, but I really beat myself up a lot. And I kind of beat other people up a lot, whether I said it or not. And I even was so hard on myself that I really stifled myself in a lot of ways. And the energy work that I did, the self -discovery, the solo trip, the experience with different energy allowed practitioners me to move a lot of that heavier energy out of my body and create room for light and love. And one of the most instrumental things that I learned is mindfulness. And mindfulness was not something I was running towards if I was totally honest. Like, mindfulness seemed to me like, oh, that's such a ridiculous thing to do, you know? Yeah, true woo woo, right? Like, oh, there goes those woo woo people, right? Yes, absolutely. I wanted to be productive. I wanted to, you know, really kind of get things done all the time. And my mindfulness teacher was just not having it. She was like, JJ, you have to put the notebook away. I'm like, no, I might have a good thought or I got to plan my grocery list. And it took me weeks to realize that I was basically living in the future or reflecting on the past. I was not in the present moment. And mindfulness really taught me how to be in that present moment. Oh, my God, no, I think most of us are there. We're there like thinking about everything we have to do or going over everything that we've already experienced. We're not present very often. So what does your mindfulness practice look like? Do you have a daily practice? Oh, I've thought about myself in the last eight years. You know, I really had a lot of work to do because I was so leaning in the masculine energy. I was so driven. And it took me a long time to unwind that. You know, I'm 50 now. So I've been working in that energy and that like productivity rat race for so long. And all of us have masculine and feminine energy. But when you're in high tech, which I was or many demanding careers, you lean so far in the masculine that you completely detach yourself from your knowing your connection and your inner wisdom. Oh, God. Yeah, totally. But what like, do you do a meditation? Do you do like a grounding, a breathing exercise? Like, like, what's see, because mindfulness can be very difficult for some people who mind, you know, goes in a million directions. So I like to give people who practice it like what it is that they do that helps them get into that present moment. I love that. So one of my biggest, one of the easiest things I do just to remind myself how easy it really is, is I either look out my window or I go outside and I find 20 things, recognize 20 things and not just things I see, but things I hear, smell, feel, and I really put myself in the present moment outside. Or even if I have to just look outside, right, I just really just put myself in the present moment. And it's amazing because when you are in the present moment and you're just recognizing everything that's happening around you, it's hard to be worried. It's hard to be fearful. It's hard to have anxiety because you're in the present moment. There's, you're not thinking about what you already did or what you're leaning into next.
A highlight from The Mike and Mark Davis Daily Chat - 08/23/23
"Turbulent times call for clear -headed insight that's hard to come by these days, especially on TV. That's where we come in. Salem News Channel has the greatest collection of conservative minds all in one place. People you know and trust, like Dennis Prager, Eric Metaxas, Charlie Kirk, and more. Unfiltered, unapologetic truth. Find what you're searching for at snc .tv and on Local Now Channel 525. It is Richard Louis Springthorpe's birthday. You know him better as... Rick Springfield. What a great, great record. Jessie's Girl 1981. Okay, ready, Mike? Rick Springfield. How old? I'm just listening to you hit the post and I'm just wondering how excited you get when you hit the post. You love hitting the post. You're such a frustrated disc. Every talk show host wants to be a DJ. Every DJ wants to be a talk show host. Okay, maybe not everyone. Not me. Last thing I want to do. Go ahead. Rick Springfield. Dude, look at you. You always either guess low because you don't think we're all as old as we are, you guess comically high. There was a stretch there where all the rockers were getting old and you tell me that everybody was 90. You just about nailed that one. Rick Springfield is 74 today. All the musical birthdays you play, you always end with, and they passed away in 2012.
A highlight from Beyond UV: The Four Factors that Prematurely Age Skin
"This is the Art Beauty podcast where we are always reaching for truth and beauty. Remember the brands on the show are not paying to be here so we get to ask them candid questions because you deserve to be informed so you can make the best choices for yourself. I'm Amber and today my fabulous co -host is Dr. Loretta Seraldo. She is a board certified dermatologist, been practicing for over 40 years, has an incredible background that we're gonna talk all about. And she is also the founder of Dr. Loretta Skincare. It is such an honor to have you on today. I'm gonna call you Dr. Loretta through this. Welcome to the show. Thank you so much, Amber. It's a pleasure to be here. So I have to say, when I was researching your background, I mean, you have such an incredible history in skincare. I saw that you were actually involved in the development of the Fitzpatrick scale, is that correct? Yes, absolutely. That is insane. And then you also opened one of the first, and please correct me if I'm wrong, cosmetic clinics. The dermatology clinics, yeah. Well, that was a teaching clinic at University of Miami. We think maybe it was the first one in the whole country. So can you just give us a little bit of your background? Yes, because I think that it really will give such a sort of like historical perspective on how short a time we really understand sun damage and external factors and all this. So I was in medical school in New York in the 1970s. And after my first year of medical school in 1975, I got a summer research job up at Harvard Medical School in the dermatology department. And like most of the very few women who were in medical school in the early 70s, which I started in 74, most of us sort of entered medical school thinking that we would be pediatricians or obstetricians, but I was very interested in this research opportunity. So I get to the dermatology department, not understanding much about dermatology. And the head of the lab tells me that I'm going to be investigating the effects of the sun's UVA on human skin. So I was very interested in this. And right before we were gonna go to lunch at the cafeteria, he said, you know, Loretta, by the way, I'd rather that you don't tell too many people what I'm doing because many of the physicians in the cafeteria already are like so sure that not enough UVA reaches the surface of the earth for it to have an effect on our skin. Long story short, I think you should know that the rest is history. And when we study the effects of the sun's UVA on human skin, that led to the development of what we call to this day, broad spectrum sunscreen so that the FDA requires that all sunscreens now must protect not only from UVB, which is what they did in the 1970s, but also from UVA, as well as UVB, that started in the 80s once all the research got done. Amazing, you know, and just here's something great that I've learned through my, if that gets confusing to people, I like to think of this, UVA are the aging race, right? So they're gonna go a little bit deeper into the skin, affect the deeper layers of the skin, where UVB are, they're actually curvier waves, so they go less deep into the skin, but those are the burning. UVA is aging, UVB burning. But wow, so UVA only, that research was really only being done since the 80s or in the 80s? Yeah, no, actually in the 70s. Yeah, exactly, yeah, it was very interesting. Actually, it was really done for the treatment of psoriasis. So when I got to that lab, there were called the photobiology labs at Harvard, they had already had Westinghouse make up UVA bulbs for the treatment of psoriasis. And then the question was, instead of doing intense UVA bulbs, could you actually go under the sun? And actually what we did to do the research was we gave people a pill to make them a little more sensitive to UVA so we could really study the impact. And yeah, I think that actually, that whole background and perspective, I think then leads into some of the things that are now on the forefront of sun protection. Like it's been argued, do we need the HEV blue light protection or not? But I think as we go on, we might get to that discussion today too. Oh, I would love to. So, okay, so you clearly have done this. When did you decide to go into practice? Right, so basically what happened was, again, I sort of thought, well, what will I become? And as I went into my third year of medical school, I knew, I actually was already dating one of my classmates who I was with for 47 years until unfortunately his recent sudden death. But I was dating my classmate. I wanted to have kids. We went on to get married and have four kids. So when I got to obstetrics, I was, oh, wow. You know, I don't think I'm gonna have time to have a big family. When I got to pediatrics, again, this was the 1970s and there's still, we didn't have good medicine for pediatric leukemias. And so that was sort of very depressing. And so I said to my husband, you know what? I am so fascinated with the field of dermatology and it could really also afford me this amazing lifestyle. I think, so I went back to Harvard in my fourth year of medical school and did another big research project because that really then just sealed the deal for me that I was in love with dermatology. I love that too, because you were really a pioneer. And you mentioned at the time there were not a lot of women entering the field. So thank you for sort of breaking through those barriers for us. You're welcome. So you have been practicing dermatology for over 40 years now. Exactly. And I do want to talk about this because we're gonna talk very much in detail about your skincare line, but your skincare line is all based on sort of this theory of like the aging theory of exposomes. So can you explain what exposome theory is? Yes, and honestly, I think this is very important and it doesn't even have anything necessarily to do with my skincare line, although I picked up on it in formulating. So what I'm going to explain to you is, of course, I went to do the research and all of the research I did during medical school had to do with the effects of the sun. But then very interestingly, I got married to my husband during medical school and we decided to stay in New York. And I ended up doing my training up in the Bronx, New York. This started in my dermatology residency started in 1979. And believe it or not, women kind of come a very long way since the 1970s. So I would say the vast majority of the patients that I saw in my residency, the women did not have driver's licenses, did not have any access to go to the beach or a pool, forget it. And what we of course started to do then and do to this day is when people would come in to see us in the dermatology clinic, we would do total body exams to look for skin cancer. And what struck me from the very, very beginning, the first week of my residency is that when we saw older people, so this would be, let's say a woman in her 70s or 80s, and I'm talking to her at first getting a little history and I see she's very wrinkled and she's got a lot of age spots, all the unwanted changes of aging. When I then had her put on a gown so that I could check all of her skin for skin cancer, I honestly was myself a little bit shocked to realize that even people who were elderly, who had really advanced aging changes on their face and their neck and all, when we got to examine the areas that were not exposed to the elements, areas that were chronically covered by clothing, they always looked decades younger. Now I'm gonna get back to what I said to you though. That started to really percolate through dermatology, dermatology literature, that it was only exposed skin that was really aging. And so in the 19, by the late 70s, especially early 80s, we started to use a term that I think is very popular not just in dermatology literature, but in the lay literature and it's called photo aging. And basically what that meant was, okay, it's not really your chronologic age that's causing all these unwanted changes, but that term photo, right? Like photobiology labs, photons from the sun. What it meant was all these unwanted changes were coming from the sun. But remember what I said to Amber, this was a very special population that I had of all these adorable little old ladies who like maybe they had come over from Sicily or God knows where they didn't have cars. They stayed home ironing their husband's shirts and making the lunch for the kids. And these women hardly had any sun exposure, yet they had all of these hallmarks of such a disparity between skin that I have to just say was exposed to the elements, to the external environment. So at that point, I started to sort of delve a little bit into, well, what the heck is going on, right? Of course, we know a single sunburn can cause a lot of skin damage and all of this, but there must have been other factors. This was sort of what I started to believe many, many years ago. And as time has gone on, there was more and more research that for instance, looks at the effects of pollution.
A highlight from BREAKING Crypto Manipulation EXPOSED! (Bitcoin Dropping)
"We are going to make it right. If you became a millionaire, would you keep working? The commander is here. What's going on right now is California is trying to figure out how to beat California. Oh, I can. Welcome to my hair. It's messed up. Man. Do you know what I was thinking? My hair gel. Welcome to BitBoy Crypto. My name is Ben. No chance it works harder at keeping you in the know about crypto. I'm the biggest and largest and greatest crypto community in all the Interwebs. Nick, can I ask you a question real quick back behind the audience? Why don't we put the TV back up for around the blockchain? Can we, during my show, can we scoot it? You got to do it right now because I'm still, I end up just looking back over here again. Yeah, turn it off. That's great. That's great. Hey, you know what would be even better? No, let me tell you what would be even better. What? No, keep it up. Keep it up. Keep it up. What would be even better is if we could just get like a black window and put it on top of that so I can just see the, oh, that's all I need to see is the red and I can't see it on camera. Guys, that's technical stuff. We're doing a lot of technical stuff. We're doing a lot of technical analysis. This is BitBoy Crypto Show. As you know, we're an all -serious show. Yes. We're an all -serious show. I hope you guys watch the show this morning. Because if you did not watch it, do you see how many viewers we had? A lot. I wouldn't comment on it. We almost said 2 ,000 live. Yeah. We love the show. Yep. Yeah. Why? Because of the clickbait title, obviously. It was a good one. It was a good show because we spent the whole time, I know, guys, my voice is a little, because I'm in these conferences and different stuff, talking over part, you know, robots dancing and loud music at yacht parties and all this stuff. But the fact is, is that, what was my point? I forgot. Where was I going with that, Tim? Well, it's a serious show, a serious crypto show. So the morning show, what we did is we went back, and we looked through all my old videos in 2019, and you can see the sentiment of crypto by looking at my videos. The last day that I ever had less than 1 ,000 views on a video was in 2020, January 23rd. Somebody go look that date up. We're going to do it again, where I did it on the show this morning. Look that date up. Look what happened to the price on that day. That's when crypto finally started moving. And, of course, we had the pandemic crash, but views were at all -time highs at that point when the pandemic was, like, when it first started because people were so like, you know, oh, what are we doing? Everybody's home watching YouTube and stuff, so it started going up. Yeah. But I was trying to explain to everybody that this morning, like, where we're at right now, and I'll just do a quick thing here where we'll pull up Bitcoin. I'm going to pull up a different chart here so that way I can not have the drawings and stuff. I don't want that. I just want Bitcoin, USD. We'll go to Bitfinex. That's where it was earlier. Like, I want to show you guys where we are right now compared to where we're going. And I want to explain a lot of stuff to you guys here. Now, what are these indicators? I do not know. I'm going to turn them off. I think it's always Kelly. Isn't that what we decided? I don't know. That one, maybe. That, I... Yeah, I think Kelly, it's the one that looks at the exchange value profile like that. But the point is, when you go back, a lot of people remember when you look at 2020, and I'm not going to spend time on this because we spent time on this this morning. Well, I've already got it actually. This is the chart I used earlier. So here we go. Here we go. A lot of people remember how things were and things were tough back then, okay? 2019, the beginning of 2020, things were tough. Right here, this area right here, when you look at this, this is where we're at. Now, does Frank know that we're doing charts at the end now? I've already talked to them. Yep. Why is he sitting there then? I don't know. He's going to watch the show for an hour? He's excited. He loves your content because this is the best show. Are you just watching the show, Frank? Yeah. Oh, okay. Frank's watching. Oh, he wants it because he gets it like five seconds ahead of everybody else. True. It's true. He's such a DJ, y 'all. So anyways, so the point is, when you look back here at this, okay? And like I said, I'm not going to spend too much time on this. This is such a big idea. Go watch the 8 .30 AM show. It was incredible today. I'm telling you, you're going to want to watch it. This right here is where we're at right now. This is where we're at right now. This here, this was right after the last time I ever had less than 1 ,000 views on a video. This, and you want it, you know what's funny is? Do you want to know the name of that video? No. What is it? It was a podcast. Me and JChains, bearders and midcoins. We used to do that show. And the name of it was Crypto Influencers Quitting in Droves. And that, when you look at that second box there, or the second circle, the second circle, the very beginning of it, the line in between those two circles is when everybody quit. Now, like I said, this here, I thought this was a serious show. It is. What did you draw? Are you saying those look like? Okay, anyways. Okay. So this here was pandemic crash, so whatever. But I want to point something else out to you guys. The last thing I want to point out here before we move on is when you look here, and you look at 2019, here's the bottom. This is the bottom. It was December of 2018. Okay, I think December 15th maybe. Let's see. What day is that? The 14th. It went down to 3281. 3281. Yep. December 14th was the bottom. I called it a week later. I said that was the bottom. 100%. Never recanted on that. That's not something I threw out 74 opinions, and that one was right. Okay? This was the bottom of the market over here on the left side. This was the bottom. This, this circle right here where everybody quit, this was the bottom of the sentiment. This was when the bottom felt like the bottom because nobody cared in this range right here. And remember, this is where we're at right now in the market. I mean, look. You look at the volatility. You see it. Then you come over here, and you look. Well, we got to go forever. Here we go. There we are. Like, I mean, look at that. This is even more solid, even less volatile, even less volatile than it was then. Now, when you open it up, of course, it looks a little more volatile because that's the way it charts where we candle. But the point is, Yeah. is that I'm trying to tell this message to people. I had a guy, my guy MC Moreland, he messaged me today on email me at 9 .30am. I don't know if he's watching the show. This guy messaged me forever about crypto. And he said, No, I didn't respond to him. You know, I just I don't have a lot of time to respond to people, but I saw the email. And he said, I'm thinking about giving up. He said, I think I'm thinking about giving up. I think I'm giving up on crypto. Guys, the last video I ever did that less than 1000 views and go back and look. We're looking at this morning. My average views around that time was probably about 1500, 2000. You go back about a month or two before that, my average views are about 850. You go back a little further, 3400. Okay? Like, not a lot. I showed people the video today. I got a lot of very good video clips for us to pull by the way, by going through those old videos today. But think about this. It's not a coincidence. It's not a coincidence that, right now, the way people are feeling about crypto is lining up for the first time, most likely for most of you, with what all your friends and family and your haters have been saying. They've been saying it's dead. They've been saying it's over. They've been saying Bitcoin's not going to go back up. They've been calling it a Ponzi scheme. They've been saying the government's going to take it over. The government's going to ban it. The government's going to make it illegal. They've been making you feel bad for the whole time because you came at the top of the market. Most of you did. Face facts. Most of you came at the top of the market. Not that you had to face facts. I'm just saying that's real. But these emotions, markets are 100 % psychological. The emotions that you're feeling, the depression, the sadness, this is how you know we're getting to the end. But what makes it so dangerous is that your emotions are now lining up with what everybody's been telling you. And this is the No. 1 reason why people get out of crypto. And as I just showed you on that chart, they flock out at the wrong times. And if you're considering giving up right now, if you're considering getting out of crypto and cashing out because you need some money, I urge you, brother, I urge you, sister, I urge you, good friend, I urge you, bitchwad, do not do it. That is not a show for you to keep your crypto. I don't give a frick. It doesn't affect me a lick whether you buy or sell or watch this channel or not. It doesn't affect me a lick. You can go do whatever you want to do and make yourself happy. But as a person that went through it before and came out on the other side and was handsomely, not only am I handsome, handsomely rewarded by that stubborn hardheaded belief in something that I knew was the future, it changed my entire life and the entire trajectory of my life. Now, mo money, mo problems, they say. But I'd rather deal with mo money than mo problems than no money mo problems because you got mo problems, we got no money too. Hey, Ben, does it matter how many times you fall down? Now it matters how many times you get back up. Wait, was that BJ with an actual like... BJ's actually out here trying to inspire. That was good, BJ. Well, I was also going to say the one thing that's not going to give up is tyranny. And that's why it's super important to stay with crypto. Yeah. And stay with decentralization, stay with changing things. Absolutely. Man, this has become a serious show now. Oh, God, I'm sorry. No, I like it, BJ. This is serious. This is serious. We're having the votes. The votes came in. I hated that. I hated that poll, by the way. Like that poll made me so upset. It made me angry. It just made me upset, you know, but that's fine. Look, if y 'all want, if y 'all want, look, I heard you. I would say this. I heard you. I thought I was hearing you one way and I thought things were cool. I guess people weren't too happy. And so, look, I'm one of the people. This is what we're doing. And I want people to understand, you know, I will always continue to make it a joke, though. I will always continue to make that a joke about this is a serious show. This is a serious show. Very serious show. And there will be, you know, I'm now the king of no -nonsense, keeping the show on track. But I want people to know, the morning show, that 8 .30 show, definitely go watch it. Because Ben, he brings out Alpha, but he has fun in that one, too. And that's the end of the show. The crypto chill. We're just chilling, you know. Like today was a little more serious than we usually do, but... Yeah. But the end of the show, when we get to X minute and we get into that stuff, then, yeah, we'll go on tangents at the end of the show. So if you guys love the tangents, you love the nonsense, there will still be nonsense. It'll just be down to 2%, and it'll be the 2 % at the end. Yeah. 100%. Yeah. Okay. So, alright, guys. So make sure you hit the like button. Once again, number one thing you can do as a member of the BitSquad. So let's jump into the top story of the day, which is crypto manipulation. Coinbase has been shorting the crypto market. Public reports indicate. Now, is this news? Do people not know all this stuff? You think? I don't think a lot of people know. I mean, guys, and this is one of these things that's a little bit difficult because Abdul Aziz, my guy, appreciate that. Super chat, man. That's good. Man, although I felt already what you were saying deep down, but hearing you say it, man, I'm freaking pumped and bullish. That's why I put a tweet on I put a post on X. Very serious show. We can't say tweet on Twitter anymore. Yep. Nope. Did BJ just put his own Twitter handle in the thing? No. Somebody else from the marketing team did. BJ, this is a serious show. Please, don't pin that. BJ, you can pin that. Pin that for like 10 minutes. It's a serious show. We want people to follow you. You have a very serious name. But the point is, is that a lot of people have been feeling this way. A lot of people have been sad. A lot of people have been upset. But I lost my track of mind. What was my point? Where was I going with that? Before I started talking about Coinbase. That BJ thing really threw me off. Yeah. On the X minute, when we get there, I'll show you guys one of my tweets I made. People are making fun of it. They're saying, what a dummy. Because I said I'm more bullish than I've been in years and years and years. I am. Because I've seen this before. I've been through this before. I've experienced this before. So everyone's so bearish. And I'm saying I'm more excited. It makes me look like an idiot. It makes me look like I'm shilling crypto and just trying to get people in. No, guys. No, guys.
A highlight from A Primer on China's Current Economic Turmoil
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Thursday, August 17th, and today we are doing a great, big, what the heck is going on with China episode. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link at the show notes or go to bit .ly slash breakdown pod. Hello friends, we are rumbling on towards the end of the week. And speaking of rumblings, if you have been watching the macro Twittersphere closely, there have been growing rumblings about China. You see it pop up a little bit in mainstream media and on YouTube's and certainly now happening on podcasts. And then yesterday, Preston Pish tweeted, anyone have a really good and recent article or podcast on what's happening with the economy in China right now? Well over here at The Breakdown, that really cinched it that we were going to dig into this. And before we do the usual caveats, one, I am not a China expert, just like basically I'm not an expert on anything we talk about here. But what we try to do well over here at The Breakdown is aggregate sources to help you better understand what's happening at least a little bit better. And number two, to the extent it comes up, apologies in advance for pronunciations or perhaps I should say mispronunciations. With that, let's try to get a sense of what's happening and why it matters. On Tuesday, the People's Bank of China cut rates on one year loans by 15 basis points to 2 .5%. This is the largest cut since 2020 and was an emergency policy adjustment following the release of some truly dismal economic data. July data showed weak consumer spending growth, sliding investment and rising unemployment. Youth unemployment for people between the ages of 16 and 24 hit 21 % in June. I know you guys can do the math, but to put that differently, that means one in five young people are now out of work. In fact, this month, the National Bureau of Statistics didn't actually release data on youth unemployment, stating that they needed to adjust their methodology to exclude students seeking their first job. Now, over in currency land, the yuan has devalued by 6 % over the course of the year, recently reaching the low point it recorded last October of 7 .3 yuan per dollar. That's the weakest exchange rate for the yuan since late 2007. Data from June showed that China have decreased their holdings of U .S. treasuries for three months in a row, bringing them to a 14 -year low. Some analysts believe that these reserves have been mobilized to defend the yuan from devaluing too rapidly. June CPI data released last week showed that the Chinese economy was in outright deflation. Consumer prices fell by 0 .3 % on an annualized basis. Manufacturing activity has now contracted for four months straight, and GDP growth this year has been paltry, recording 2 .2 % in the first quarter and just 0 .8 % in the second quarter. Multiple international banks have now downgraded Chinese growth estimates, forecasting that the economy will fail to achieve the 5 % growth target set by the CCP. And if that target is not hit, it will be the third year in a row with sub -5 % growth, an unprecedented rough patch in the post -Mao era from 1976 onwards. Now, contributing to this are debt problems, credit problems, and social stability problems. But before we get to those, let's do a whistle -stop review of the last few years in China to see how things wound up in this position. You will remember that during the pandemic, China ran one of the strictest and longest -running lockdown regimes in the world. And while the impact of the lockdown on the people of China was of course immense, the disruption it caused was also a major driver in economic dysfunction. Global supply chains became broken, impacting items from semiconductors to gym equipment. While the fragility of supply chains based in Chinese manufacturing had long been a talking point for hawks in the West, the failure of multiple critical supply chains during the pandemic cemented the idea of reshoring manufacturing across the political aisle in the US. Since taking office, the Biden administration has pursued major industrial policy with a view to decoupling critical industries from reliance on China. The financial sector has also been discouraged from investing in China over the past few years, with a range of policies and pressure campaigns ensuring that capital flows into China are crimped. And as a little bit of a self -shill, if you want to hear about how this has been impacting the development of their artificial intelligence field, go check that out. There continues to be incredible pressure on the Biden administration to even increase restrictions on export of AI -related technology to China, even though many of those restrictions are already in place. Anyway, heading back into the COVID era, as the rest of the world opened up and rolled back lockdowns in late 2021, China continued to be locked down into the strict zero COVID era. Many times, even when it appeared that things were on the verge of opening back up, some new outbreak would cause another lockdown, leading ultimately to citizens bristling at the continuation of tough track and trace policies. Another big notable event during this time was that in December of 2021, the massive Evergrande property development group defaulted on an interest payment on its corporate bonds. The property giant had been severely impacted by a crackdown on leverage within the property sector in 2020 and had struggled to refinance its debt. The tightening of credit standards was known as the three red lines policy and was intended to reduce the credit risk of home builders. When it collapsed, Evergrande had over 50 million apartments left unfinished, leaving homeowners to question whether they would ever receive finished units. The Evergrande failure precipitated further economic problems across China in 2022. Protesters staged demonstrations outside banks, with organized groups refusing to make mortgage payments on unfinished homes. In many cases, mortgages had been taken out prior to construction beginning, and so you can only imagine the frustration of people who were continuing to pay for homes that had been further and further delayed and who couldn't actually even live in them. In that same time period, multiple banks and wealth management products failed across the country and Chinese real estate in general entered its most severe downturn in history. Now the government did step in to manage the Evergrande failure and broader economic contagion. They were, however, in a tough position. Government policy around the restriction of credit to the property sector had been a major catalyst for the problems, but officials were reluctant to wind back the regulations entirely. President Xi Jinping has been outspoken about reducing the financialization of housing, stating, quote, houses are for living in, not for speculation. Now diving a little bit deeper into this area of the economy, the property sector is a key part of basically every major economy, but China takes this element to the extreme. China has one of the most overvalued housing markets in the world in relation to income. On average, an apartment cost over 30 times annual income, with major cities like Shanghai bringing this ratio as high as 50 times income. In the US, the ratio between housing costs and income is closer to four times on average and 10 times for major metros like New York and San Diego. Part of the reason housing is so expensive is that Chinese citizens use housing as a primary store of wealth. Again, this is true globally, but it's particularly lopsided in China. Housing accounts for more than 70 % of household wealth in China. Many people invest in property and then hold it vacant to preserve its value as a never lived in home. China has some of the highest rates of homeownership in the world, with as many as 90 % of households owning at least one property. This skew towards the property sector is largely a function of mistrust in other domestic assets, as well as tight capital controls. The Chinese stock market is notoriously opaque and lacking in the disclosure rules that provide a semblance of investor protection in the West. And while managed investment products are popular, they're often just proxies for exposure to the property sector. Analysts typically measure the Chinese property sector as representing around 30 % of Chinese GDP, which compares to the estimates of around 17 % in the US. Now other countries, including Canada and Australia, have similar levels of household wealth and GDP contribution from the property sector. But the key difference for the Chinese housing industry is the sheer scale of the market. Chinese real estate is estimated to be worth $42 .7 trillion. This is slightly larger than the US real estate market in aggregate, and even a few trillion dollars bigger than the total market capitalization of the entire US stock market. Many point to Chinese real estate then as the largest asset class in the world, and it is going down hard right now. Official data has new home prices down 2 .4 % across China since their peak in August of 2021. Existing homes have dropped by 6 % in the same time. This is already a massive drop for a housing market that was generally assumed to go up forever, but these official average figures don't tell the whole story. In China, closing prices for real estate are not public, so the official data is an estimate at best and a political fabrication at worst. The data relies on surveys and has significant smoothing to dampen trends. This makes turning points difficult to capture and could mean the official data is not telling the full story. Private data from property agents shows major markets like Shanghai and Shenzhen falling by at least 15 % in prime neighborhoods. The real estate surrounding Alibaba's headquarters is estimated to have lost a quarter of its value. Goldman Sachs economist Wang Lishang said, Now, alongside the fall in the housing market, more acute problems in the financial sector have also sprung up recently. At the end of July, Zhongrong International Trust Company missed payments across dozens of wealth management products. The company is a gigantic player in the Chinese shadow banking sector, which intermediates loans between individuals and private lenders. They primarily deal in the sale of real estate backed bonds, and at least 30 products are now overdue, and the company have said they have no immediate plans to make clients whole. Chinese authorities have set up a task force to investigate potential contagion, and banking regulators are looking into risks at the firm's part owner, Zhongjie Enterprise Group. Zhongjie managed around $138 billion. Jason Hsu, chief investment officer of Raelient Global Advisors, said, This was one that everyone knew was going to blow up. Overall, there are 106 trust products across the country in default through to July of this year, worth around $6 billion in principle. Real estate investments have accounted for 74 % of default by value. Corporate defaults are also up in recent months. June and July recorded missed payments on more than a billion dollars in domestic notes. That's the worst stretch since last December and January, which was punctuated by the default of Evergrande. This time around, the problem seems centered on an even larger property developer called Country Garden. The firm is considered by most to be the largest home builder in China and has more than four times as many outstanding projects as Evergrande. Country Garden has missed payments on its dollar -denominated bonds and is currently inside a 30 -day grace period prior to a formal default. Trading has been suspended on at least 11 onshore notes, and payment extension proposals are in the works. Country Garden's January 2024 dollar bond issuance traded at 9 cents earlier this week, an implied yield of 2 ,500%, just to give you an idea of how the market is pricing the firm's chance of recovery here. Now, as credit risk rips through domestic markets, China's major state -owned banks have been told to sell dollars to buy yuan in both onshore and offshore markets. According to anonymous sources speaking to Reuters, Chinese banks have been propping up the yuan throughout the week in an attempt to control the decline of the currency. Now, standard caveat on quoting Zero Hedge, but Zero Hedge is also reporting that Beijing have urged investment funds not to sell off Chinese stocks. Taking a step back, up until recently, the Chinese reopening was a major narrative for markets. There had been turmoil across China over the last two years, but many investors consoled themselves that China would reopen strong and provide some much -needed growth to the global economy. What's happened is almost the complete opposite. Chinese growth has come in weak and sputtered along since reopening. It now looks like China is headed for a recession at best, if not a full -blown financial crisis. Carnegie Endowment senior fellow Michael Pettis wrote, It may seem like terrible luck and amazing coincidence that so many things are going wrong in the Chinese economy at the same time. But of course, it is not a coincidence at all. This is how systemic imbalances work themselves out. I've often written about the Minskyan dynamics of long periods in which market variables move persistently in the same direction. When that happens, businesses, banks, local governments, and households who implicitly or explicitly take too much one -direction risk systematically outperform those that don't, until eventually the operations and balance sheets of much of the economy are directly or indirectly leveraged to those variables. That is why, when that variable finally reverses, the damage can often be much greater than anyone expected, mainly because no one understood the extent of the implicit and explicit exposures. Decades of surging property prices, expanding liquidity, and contracting credit spreads in China have created an economy in which balance sheets have highly correlated mismatches and distortions. In that case, the impact of an eventual reversal is brutally hard to predict. What about the response? Well, three weeks ago, when it had become clear that China was entering another period of economic distress, Chinese leaders vowed to provide more support. The Politburo pledged to spur consumer spending, tackle unemployment, and backstop the property sector. However, details were sorely lacking. The Politburo's statement acknowledged that the economic recovery after reopening was making quote torturous progress and that it was necessary to quote actively expand domestic demand and expand consumption by increasing residents' income. Julian Evans -Pritchard, head of China economics at Capital Economics, lamented the lack of a clear plan. He said at the time, Given how bad things are at the moment, it is a bit disappointing that they didn't give us some figures. And while their statement did recognize the risk to the economy, Evans -Pritchard said quote, They are not so desperate that they feel the need to resort to the old -school Big Bang stimulus. What he's referring to is that during prior downturns during the 2008 global financial crisis and the 2012 euro crisis, the CCP was eager to dole out massive stimulus on the supply side. The Chinese government directed the stockpiling of commodities and gigantic infrastructure projects to keep growth ticking over at a fast pace despite global economic turmoil. This time around, as of yet, there is no clear policy, just haphazard emergency interventions. For example, the People's Bank of China has cut rates, but there's a limit to what monetary stimulus can do to support consumption. This time, the problem is deflation, a collapse of demand. Until now, Chinese policymakers have largely been able to keep the economy out of the ditch using only supply -side stimulus, but it's not clear that that will work again. Late on Monday, Kai Fang, a member of the Monetary Policy Committee at the PBOC, warned that emergency rate cuts would not be enough. He said, Fang joins a growing chorus of economists insisting on direct transfer payments to consumers in order to support spending. This option has been controversial with senior Politburo figures, however, and so far Beijing has ignored the suggestion. Many have suggested instead that tax and fee cuts for companies were the most direct, fair, and efficient way to stimulate the economy. Senior Party members also have a history of warning against the Of course, the concern is that the underlying problem might be a simple lack of capacity. China's government resources are distributed through numerous local governments. These governments typically raise funding through land sales, but with the property sector in trouble, this line of revenue is less viable. There has also been an ongoing dispute between the central party and provincial governments. During the turmoil of the last few years, Beijing has been reluctant to come to the aid of overindebted regional governments. Estimates vary wildly due to the large amount of off -balance sheet liabilities, but Goldman Sachs analysts think there could be as much as $13 trillion in debt held by local governments. China's GDP is around $17 trillion annually, so there could be significantly less fiscal space for stimulus than the publicly disclosed figures imply. Liu Chao, professor of finance at Peking University, said, Now, as you might imagine, overarching all of these economic problems are the very real political considerations. Tensions around the rule of President Xi Jinping have started to come to a head around the financial turmoil of the last two years. For the first time, we've seen evidence of open protests against Xi on the mainland. Now, of course, it's impossible to tell how widespread the antipathy towards Xi is, but it's hard not to view at least some of the events of the last couple years as cracks emerging. And so really where we're left to do a very brief summary is a situation in which a set of challenges are converging all at the same time. And they're a set of challenges not necessarily easily solved by old techniques. Officials are caught between wanting to run back the old playbook and trying to figure out if there's a new playbook that'll work better. Michael Pettis again wrote, What got China into this mess has been over a decade of massive amounts of investment in unnecessary infrastructure and empty apartments. If this investment had been economically justified, rising debt would have been more than matched by rising productive capacity and GDP, which means local government debt would have never become the problem it has clearly become. I understand why many policy advisors are so worried about China's economic slowdown, that they are turning again to the old policies that boosted GDP in the past. But more of the same won't get China out of the mess that more of the same got it into. Now, of course, outside of China, the big questions are how a Chinese recession or slowdown or even financial crisis will impact the global economy. One thing that some observers have noted is that we haven't had a normal business cycle recession in so long. In other words, we haven't had a downturn precipitated by anything other than a financial crisis for so long that we kind of don't know how to handle it. We don't really have a playbook for what to do with it, at least not one that's been updated recently. To some extent, I wonder if the not knowingness of the situation is contributing to the anxiety around it, but as with any macro topic, it is an extremely dense, complex, nuanced intertwined set of issues. And so the best we can do is keep trying to keep track of it and recontextualize as new events teach us more about what's happening. Hope this was a helpful primer, at least a little bit on what's going on. Until next time, peace.
A highlight from SHIBA, HBAR And RUNE Are PUMPING! (What Altcoins Are NEXT?)
"Dear diary, it's now day 54 of this sideways movement in Bitcoin, and every day we have to make amazing, amazing, amazing content. And even though every YouTuber in the world has made a thumbnail about how the volatility is coming to Bitcoin, Bitcoin doesn't care. And in fact, if I look at the volatility on Bitcoin, it's now at a five year low and no one cares about crypto anymore. That's pretty much where we are at volatility that hasn't been there for five years. And the sentiment is that no one cares about crypto anymore, but there are altcoins that are actually moving. And if you want to look at these altcoins, mainly altcoins that we've actually spoken about on the show. So let's look at the altcoins that are actually moving. Number one, you've got Flex. If you look at where Flex was 30 days ago, $3 .39. If you look at where Flex coin is today, $6 .15, almost 100 percent in this kind of environment. Unibot, if you take it where it was a month ago, more or less, it was at $50 today trading at $171. So there was a 3X over there. Then you got Rune, which has been at about 80 cents and now had a breakout. I'm going to talk a lot about Rune today because maybe this thing can go. Because the thing with Rune is, or Thoughtchain or whatever, however you prefer calling it. If you look here, it has been at $21 and it came back here and a lot of people lost faith in Rune. But now it's back up at $137. And maybe there's a long way up. We'll actually talk about what Rune is, how it works and why it's actually moving. Another one that's moved up pretty well, Shiba. Shiba's up 74 percent since it's low in June. And I'm glad to say that a lot of these tokens we actually spoke about here on our show. So if you have been paying attention in this market, in this boring sideways market that everybody is dying about, well, you would have got a lot of these 3Xs. And I think what this goes to show is that the market doesn't care. Doesn't care about your biases. Myles, actually Myles Deutscher said it perfectly, very smart Myles. He says, you know, Robert is hated for being a gambling Ponzi coin that's up 217 percent in two weeks. Unibot, hated for being too centralized, up 183 percent in three weeks. OpenX, hated for being Kyle and Suzu's coin, up 107X in two weeks. And he's right. The market doesn't care about your biases. The market will do whatever the market has to do. So the only way to stay alive in this market is actually to look at the data. And if we look at the data, what we can see, HBAR is up today. Render is up. Frax is up. Ape is up. If we look at this week, we can see that Rune is up 45 percent. That's why we're going to spend a lot of time talking about Rune. Robert, we have spoken about so we're not going to speak about it today. HBAR up 16 .12 percent. We're going to talk about that today. Sheep, we're going to talk about sheep today. Telegram or Ton, not talking about that today. We're also going to talk about Ape. Have I already said Ape? I may have said Ape. Okay, so that's what that's what today is about. There are altcoins that are running. I know it feels a little bit boring. If you want to if you want to know what's running, you need to understand the formula. You need to understand the narratives. And there is money to be made in this market. And if there's money to be made, well, we are going to make money in this market. Now, I know that everyone's feeling a little bit down. Is there a way that we can get the get the fuck out of bed bitch go song or is that like not on our on our on our thing anymore? Is it gone now, James? Have you removed it? It can be brought back. Can you bring it back now? No. Okay. Well, we'll bring it back for you tomorrow. All right. So let's go. Let's start. Let's start today's thing. Let's start today's show with a prayer that the market will actually start moving. All right, well, as you can see, nothing is going to move this market. Nothing is going to move Bitcoin off this twenty nine thousand three hundred level. You know what I thought? I thought that when the ETF decision would come up, whether it's a yes or no, like if I thought it was if it was a yes, obviously the market would run. If it was a no, I thought, OK, like some assholes would actually sell their Bitcoin because they were expecting a yes. No one was expecting. Yes. Not even that could move the market. That's where we're at. And you've got two options while while is happening. One is you can tap out. The problem is if you tap out, it's going to be very tough for you to come back into crypto or you can actually dig deeper, find better narratives. And that's what we've actually done here before. If you look at the narratives that have come out here that have actually run, uni bot, we told you about uni bot at less than 50 dollars flex. We told you about flex at I think 36 cents. Today it's been as high as seven dollars. We told you about rollbit at two cents or three cents. We told you about 4chain two weeks ago and it was at 80 cents. We called it here on the show. So it's a case of, you know, if you're willing to do the hard work, yes, it's not as much fun, but the bull market will come back. And when the bull market comes back, if you're up to date and you know what's going on, you will make life changing money in the interim. What you have to be is you have to be, if you want to make money, you have to be a cold hearted, unemotional trader. That's the only way to make money. That's actually exactly what I'm doing in the buy but trading competition. So I've become a cold. Look at me, look at me. I have become a cold heartless trader. James saying, James here in the corner saying person, James, James was saying, you've been a cold heartless person for how long already? How long have you said I'm a cold heartless person for James? James says in my next life, I'm going to come back as an employee, as opposed to as a boss. And that'll be like the punishment for what I do to him. Poor guy. Anyway, so I have, as you can see, I have become a cold heartless trader, but it's paying dividends. So that's what I'm doing in the buy but trading competition. You see, I'm number 27 in our squad. My ROI is 53 .56%. The reason why I think I am where I am is because I actually have become cold and heartless. So I've been using this RSI tool, the RSI tool without any kind of bias tells me where the tokens are overbought and oversold. And I've been buying the ones that are that are oversold, and I've been selling the ones that are overbought. So if you look at my portfolio now, portfolio, can't call this a portfolio because it's hardly a portfolio, I'm long on GMX. And I think I'm going to hold that long. I'm also short on Rune, but I'm going to close at some point because I do think Rune is going to continue to go up. And I'm short HBAR because I think that there is news, but I don't think this news is worthy of driving this token up. And you've got to be cold and you've got to be heartless, regardless of what kind of emotions you have towards the token. I did say to you guys that every transaction that I make in the buy but trading competition, I will update you on. I am updating you. The updates are going into our Discord. Now look, I know some of you can't use Discord because I'm one of those people. I find it really, really, really hard to use Discord. So we're going to start posting the same updates in the Telegram. For those of you who have missed the Discord updates, here they are. So this was an update that I did. I'm sure I did one at my house the other day. Yeah, this one I did at home. Morning, morning, morning. It's an unbelievable day here in Cape Town, as you can see, standing on the balcony at the bottom. My GMX position from yesterday is in the money now, so here it is. It's up, as you can see, 15%, which brings my account up to about 30%, 35%. I'm going to keep this position open. I'm going to keep adding to it because I think that the seller who was in the market is now out the market. The other position that I'm looking at is a lot of the new positions. So I've been posting those. I posted another one this morning. Morning, morning, morning, legends. Here we are at the Banta offices. You can see I posted one this morning. He's for preparing his show. How are you doing the training competition, bro? Yo, I got stopped last night, but I'm on it. You got stopped last night. Man, that's one soldier down. For those of you who haven't been to the Banta offices before, this is where it's at.
A highlight from 1197. Elizabeth Warren Demands More Crypto Taxes Pro-CBDC Army vs Stablecoins
"So, Elizabeth Warren up to her antics again, this time using taxes, using CBDC, and many other tools to her disposal to try to take a position against crypto. We're going to be breaking down all of this for you guys today. My name is Paul Baron. Welcome back into Tech Path. I want to get into the first story here. Democrat senators want Treasury, IRS, to pick up the pace on crypto tax rules. So a few things that I want to break down in this article so you kind of know who the players are. I'm going to zoom in on this one. Elizabeth Warren, Bernie Sanders, Robert Casey, and then Richard Blumenthal, all involved in this. The idea is pretty simple. Treasury and IRS have until the end of the year to finalize new rules to help close the estimated $50 billion crypto tax gap. Now, this is something we'll break down because this is not necessarily the real scenario. It's what they're proposing out there. The other thing they want to put in here is, without quick action, your agencies are at risk of failing to meet congressionally mandated deadlines and the implementation of the final rule. We urge that you act swiftly and implement strong crypto tax reporting rules for cryptocurrency brokers. All of this, which we'll get into, one of the things the industry has said has become very antsy waiting on guidance, particularly with regards to the IRS defines a broker. Industry observers have claimed that the broker definition is very broad. We all know that because it could include miners and also software developers. That's another problem that already exists in crypto of who is a broker. And then secondly, or additionally, what are we hoping for? An industry perspective that is updated with the 6045 regulation, which basically gives different qualifications based on type of activity. The other thing they break down is it'll hopefully make it clear that not everyone effectuating a transfer of a digital asset would be subjected to a broker reporting. So this gets into some of the details of when taxes do apply, and we'll show a little bit more about this. The letter, the senatorial letter, comes days after the IRS issued new guidance update in 6045 regarding crypto staking, which is the other part of this that's pretty big, in which the agency ruled that staking income, regardless of the gains are realized, will be taxed as income. So you have to think about that for a second. You're staking ETH, you get ETH in return. You haven't sold ETH, but you're taking that as an income. That is the argument I think that everybody, of course, is up in arms about. If a cash method taxpayer takes stakes cryptocurrency native to a proof of stake blockchain and receives additional units of cryptocurrency as rewards, which is what happens here when the validation occurs, the fair market value of the validation rewards received is included in the taxpayer's gross income. So if you are staking, that's a problem. The interesting thing is that you do not take tax gains if you're putting that in a money market and you're getting paid interest. That's not gains until you exit those kind of scenarios. So this is an interesting aspect of how the IRS and how Elizabeth Warren is really putting pressure on it. Another point I want to get to here. This was coming from the 2021 Infrastructure Investment Employment Act, which is where all this came from. But basically, it said if we do not act quickly, that is, if the Treasury and the IRS do not implement these new rules in a timely manner, we risk missing out on roughly $1 .5 billion in tax revenue for fiscal 2024. At this point, you should not give this chance to tax evaders, which is what they're calling crypto people. And I think this is something that people don't realize just how much taxes are being paid by people in crypto. In fact, countries with the most taxpayers currently in cryptocurrency, United States leading the way, number one, Japan, number two, Germany, United Kingdom, and Austria. So you can kind of see we're already handling this because crypto is like any other really asset out there if you think about it. If you take a gain, if you sell an asset and you take a gain, that's a capital gains tax. And it applies to capital gains rules. Those are the same kind of scenarios that play into it. What I don't necessarily think is going to be popular is for them to continue to reach in to these unrealized gains, like taking unrealized gains and taxing them in any other corporate infrastructure, just not necessarily the model in which this plays out. The other thing that income tax is payable on is you're getting paid in crypto. That's revenue. So you're paying tax on that. You get an airdrop. That's a new asset you've received. Getting taxes on that. Staking rewards. That's the other scenario that plays into this. DeFi interest. Mining rewards and then even referral bonuses. All of those are income taxable at this time. There was a couple of things here in a report from CoinLedger that I want to showcase. And this was really kind of going through the people in their survey of who understood when a taxable event occurs. So 65 % of investors correctly identified that selling cryptocurrency is a taxable event. Now you have to sell it for a profit, of course. If you sell it for a loss, that's not obviously a taxable event. But only 38 % of the investors correctly identified that a crypto -to -crypto trade is a taxable event. So this is still questioning and also it's still not completely clear so that the IRS, but also even your tax preparers understand really what's happening out there in the place. And I think, again, this all goes back down into regulation, which will flow into the tax code and many other aspects. This is kind of interesting right here. This was further from the CoinLedger report. 50 % of non -taxpayers don't report because they haven't made a profit currently in cryptocurrency. You have to remember the last two years, really since 2021, almost anybody in crypto, along with other assets out there, have been in the negative. Right now, haven't made a profit, so you're not going to be paying taxes on that. I didn't know I had to report. Some people said that. I don't understand how to report, 12%, and then I don't want to pay taxes, 7%. So that should have been larger. Government doesn't know about my cryptocurrency. Okay, those are the bad guys right there. So the likelihood is if you guys are watching our show and maybe you're brand new to crypto, it's treated like any other asset class. Doesn't have any really differentiation. It is money. If you're taking it as revenue, if you're taking it as income, if you're taking a sale and getting profit from it, you're going to be able to take taxes at that time. Those are taxable events. The other problem is that it's not like an investment if you do lose money where you get to use that as a tax loss. So that's another problem of how this could. Now you can do some tax loss harvesting, of course, obviously you should get with your own CPA to understand how that works. I want to go to a clip here because the clip will go into a little bit about where, and we're kind of transitioning out of taxes into CBDC, but where Warren stands on CBDCs. Let's know what she said. So that's not so hard on stablecoins. The harder one is what do you think Bitcoin is about? If you think it's about being able to transfer value without having to go through banks, and little side note, I think banks have done a really bad job of a lot of the things they're called on to do. Yeah, the biggest advocates of Bitcoin sound like you. Yeah. Meaning they want to break up these big banks have been terrible, right? That's exactly right. And they've cheated consumers and they've kept prices high and they're slow and they won't cash a check. Five to seven days to three to five days. There you go. And it was a huge victory. Huge victory, right? That they only held onto your money for five to seven days. So a lot that banks do wrong, if you think we could improve that in a digital world, the answer is sure you could. But in that case, let's do a central bank digital currency. Are you there? Oh, for a central bank digital currency? Yes. All right, so you can see she's very pro central bank digital currencies. If you look at Warren Davidson's tweet right here, in America, CBDC should be banned. This was one option, a jailable criminal offense declaration of war and implemented. Obviously that was his kind of poking fun at, but banned is the big one is that we shouldn't use it. This is a big scenario that plays out, has been playing out for quite some time on the CBDC front. So let's just understand that CBDCs, if we do get to that, and I think this is one of the reasons that obviously crypto in general has been more popular and started to become more popular around the world, especially in countries that already have problems with their fiat. And I think that is going to be an issue that will continue to face here in the U .S. of how that does play out on a digital currency. If you look at what's happening in China, obviously their social credit system is all tied to eventually to the money. So definitely a problem. Now the other things that play into this is that there could be some scenarios right now where Gensler is going to start trying to do some other things to try to deflect maybe a possible loss that could be coming at him. One of the things that's happening right now, this of course, hacks crypto founder used investor funds to buy almost four and a half million Black Diamonds. This is the SEC. So this again is nefarious actors like Richard Hart and others that have been in the crypto space. Listen, this is not the only place that has those kinds of actors out there, but this is a good example of just how the SEC is trying to go in and deflect a little bit. Here was one of the things they charged, SEC charges 18 Utah defendants with a $50 million crypto fraud scheme. So again, Gensler and the SEC are on the warpath right now. And I always wonder why, because these are small fraud. And I look at this, they're definitely not a Binance, they're not an FDX, and they're definitely not a Coinbase. So why are they going out after these very low hanging, I'm sure they should, but it's almost making mountains out of molehills in the kind of scenario that this is faced into right now. Are they maybe setting up for deflecting off of a potential big loss, such as possibly an approval through the House on these crypto bills? Just to give you an idea of just how close Gensler is to the regulatory and the political landscape, look at the timing here. January 12th, this was 2023, he sued Genesis. During that time, we had the House Financial Services Committee announcing their subcommittee on digital assets, so nice timing there. February 12th through the 14th, Wall Street comes in and says they've issued a Wells Notice for Paxos. At the same time, you had a committee hearing on crypto crash, why financial system safeguards are needed. Then you had this one, March 19th, he goes in and he publishes the op -ed in The Hill, and then you had the Senate Ag Committee saying we're going to do these crypto hearings. Then he does April 27th, and you can kind of see it just all ties in to activity that's happening in the political forefront. He is coming in, or the SEC coming in, and timing is everything. So the reality is that all of this is going to play into the hands, I think, of the industry and also to the lawmakers understanding what the SEC's overreach has been. So it's going to be one that will probably play out in a very short period of time. I want to go to this next clip of Ron Hammond from Blockchain Association. Listen in. At least in the market structure bill, which again, got more votes than the stablecoin bill from Democrats, which blew everyone's mind in D .C. No one expected that to have ever happened. We were expecting like four or five. We had six Democrats join. Stablecoins were expecting 12 or so Democrats to join. We only got five. All right. So simply kind of taking a little bit of a victory lap of what has happened here recently on the House floor in terms of the committees and getting ready to send both of these bills to the House for a potential vote. This will happen in September. Let's take a listen to this next clip on Hammond on Gensler. And I think the market structure vote in particular just shows how much he's lost his own party in terms of buying the narrative that, A, the status quo is fine, B, there's no need for legislation, and three, he's doing a good job on the enforcement end. And we saw that on all three arguments from different Democrats fail each time. And I think the fact that there's six Democrats who bucked their own party, who bucked the SEC and said, yeah, we're going to advance the market structure bill forward. Even the House Act Committee said, yeah, we're going to advance this bill forward, too, without any opposition recorded. That's huge. All right. So I think the play out on this, you know, when you look at the current landscape right now of what Warren's attack is, the crypto army, you look at the positioning that really D .C. is doing currently, and now could this play into the political landscape for 2024? Yes, it could. But the bigger play here, I think, is still the regulatory front. And that means that either the SEC is going to lose some of its power and the CFTC is going to come in and start to have a little bit more divvy up of what digital assets and how they're controlled through these government agencies. But really, how does this play out maybe into the future? This note right here from the block, they were talking about the commission being the SEC has so far received 52 letters about these proposed funds. This is in reference to ETFs, with most of them expressing support. So it's very possible that we could see an ETF actually get passed here. And you've seen some of the things we've talked about here on the channel before in the last couple of weeks, you know, everything from the Bloomberg team and so on around the potential of the ETF getting passed, the Bitcoin ETF. If that does get passed, that would be huge for the market, would absolutely legitimize what's happening in this space. And I think it would probably, in most cases, put so much pressure on D .C. that they have to move to going in and actually getting some landscape in play. Most of the comments against the approval appeared in multiple letters from a business consultant calling themselves the due diligence. I think basically this is a bunch of banks tied in behind this and this was the counter argument to what an ETF should be. So there is full political folly in play here and it is happening at, I think, light speed right now, much faster than what I anticipated even. One of the last things here is the comment period wraps up next week. So the SEC accepting letters for the final funds around August 11. So meaning that Gensler is getting ready to have to actually make some decision either for or against or a delay, which is probably what most likely will happen. But the good thing is that, like I said, there's going to be a potential right now which keeps increasing of a potential approval coming from some of the best ETF experts in the world that are analyzing where the situation is and kind of how it's going forward. Additionally, you've got anti -crypto movement now escalating Congress's assault on privacy. This is where a lot of people are starting to look at the idea of cash and just personal privacy, which is one of the biggest issues really around the world. And if you think about just how important that is, this would give you an example, cash matters, free citizens entitled to privacy and the protection of their data. In the UK, 74 % of people say cashless society would take away the people's right to choose. In the U .S., it's 73%. When it comes to purchases, personal preferences should remain exactly that, simply meaning that with a CBDC, we all know what that means, the control of the cash, control of what you spend on, then it gets into the control of what you spend on based on your political viewpoints or other aspects of your life that all start to play it. So cash does pretty much empower citizens to become capable of kind of voting with their wallets. And I think this is a very critical scenario that's playing out right now. CBDCs will be a big part of this. So you've got CBDCs happening, you've got what we're going to be dealing with on a taxable side and then the legislative. So all of this happening right now, literally in 2023, and it seems to be coming to a head very quickly. I think as we move forward, there's going to be two things that come out of this, and that is how these bills start to move their way through Congress and eventually, if we do get approvals, to the president's desk. Here's of course, the Senator Lummis and Gillibrand bill. Just another piece of legislation that is making its way through. Most likely, this is one that will not happen, mainly because of the association and the collaboration, I think, with the ICC. The bill involves a broader swath of agencies, so this is kind of interesting because it gets into the Office for Foreign Asset Control, the FTC, OFAC, FinCEN, et cetera. The SEC is provided also with something that a section -by -section overview claims resolves a long -standing issue with the SEC custody requirements. Probably the bill that will not make its way through, which gives us back to the scenario of the two bills that are currently on the floor that most likely will make it. So good news, I think, in general, bad news for the crypto army and CBDC is still coming to a head, but I think the good thing here is that, in many cases, it's like bad PR is even good PR, but the point is that the industry, lawmakers, finance community, they're all talking about crypto, and in the end, that is good for the asset class. One other thing that did happen, which is kind of interesting, this was a letter to Tim Cook, and we did a full video on this, so I won't go into the detail of this, but mainly it was trying to get Apple to get less and less constrictive on asset classes that are making their way through apps or innovation that are involved with blockchain. One of the things that they got into was purposely limiting choice and stifling innovation at the expense of user experience. This is a problem that Apple kind of faces for quite some time. And we broke down a lot of this, but the big deal is this right here, responding to the following questions no later than 5 p .m. on August 14th. So this is another issue that is coming to a head here in August of Apple having to actually address what's happening in Capitol Hill around the blockchain and the crypto industry as a whole. So again, just another big benefit, I think, for where this market is going. I want to go to this next clip here, and this is again Ron Hammond, on where he thinks Apple's position is. Listen in. But this is a bipartisan letter from the leaders of the subcommittee on innovation. That sends a message that says, look, I mean, Apple's getting hit on a number of fronts, but this definitely sends a message saying, you know, hey, look, you're on the clock right now. We're looking at you. So that committee is going to be taking more of a role over time because we've seen this talk and this narrative of crypto really shift more and more in D .C., at least, talking about the tech itself, which is perfect, is exactly what I want to talk about, the innovation and the technology itself. And that's the Energy and Commerce Committee. That's a bipartisan letter that sends a pretty good warning shot to others in the industry saying, look, you know, crypto is here to stay. We have concerns that the U .S. are probably blocking them out. And that's not good on our watch. All right. So I think this is one of those things, again, that the thwarting of innovation is a concern here in the United States because it's one of the things that pretty much pushed the U .S. ahead of the entire planet when it comes to really capital growth, entrepreneurship, how we grow our own economies, but more importantly, our position in the hierarchy of the global structure in terms of just being the global power. And I think if you consider that, you have to look at what's happening in Europe. And with the EU, markets and crypto assets regulation, this is MICA, this is a regulation that's pretty much been in place, and it's now starting to take form. And one of the things that you have to kind of look at here is their consultation package three. These are all actually happening now. Qualification of crypto assets and financial instruments, monitoring detection, notification of market abuse, investor protection is happening, you can kind of see the things there on reverse solicitation, policies, procedures, all that. System resilience and security access, all that is building. Mainly what is going on right now in MICA is they're prepping to get all of this regulation in place so that they can roll out this program. And when they do, it is going to put the EU at the front and center of one of the biggest asset classes that has ever been created. This is the power of what crypto and blockchain is bringing to the planet. And that's why I think we are seeing all of this scrambling going on here in 2023 in the U .S. Look at the timeline here of MICA. June hits, publication goes out. July, the consultation package one already rolls out. October of this year, we're going to see package two. And then by Q1, that's when that consultation package three goes into play. And then we have early entry into the application and then the rollout by end of next year. So this is pretty significant. Further into their rollout, this kind of, let me kind of zoom out on this a little bit. This shows more background on all the transitional measurements that are going to take place. And this looks complicated, but really what it simply means is these are the deadlines that they're trying to meet to get all of the organizations that are applying for regulatory position in the EU into play so that they can go into the markets with all of these things in a legal way. And I think that is what is interesting. I think they're going to stay very sharp on these timelines because they don't want to look stupid. And right now, the world is watching. Everybody's looking at this. Asia's watching this now. The U .S. is pretty much on a big race with it. I want to go to a next clip here. And this next clip is a little bit more about the BRICs, now why the BRICs matter. And listen to this one. This is an important one. Yeah. So BRICs is a collection of countries that are trying to find an alternative to what they see as the hegemonic dollar based U .S. run global economy. So BRIC stands for Brazil, Russia, India, China, South Africa. But what happened in the wake of the Ukraine invasion is that the U .S. seized Russia's presumably to try to set off a banking crisis. Now, ironically enough, for separate reasons, our banks crashed. But anyway, that didn't work. But the problem, yeah, the problem is that every country on earth saw that happen. All right. And you've got now all these countries that they were never really hostile to the U .S., but they're starting to wonder now, could they come after me? Could they try to crash my banks? But at this point now it's accelerating. And so they've got a meeting coming up in August. And one of the items that may or may not be on the agenda is the prospect of a gold backed BRICs currency. What I think is interesting is that if any country did gold back a widely used currency, that would I mean, it would be catastrophic for the U .S. dollar. Right. That would give the world an alternative sort of payment rail that is even stronger than the dollar is today. All right. So hopefully you guys are seeing how all of this is connected. You go from everything that Elizabeth Warren is doing on the legislative front to basically tax Americans, kind of setting up the scale of what and how this asset class is going to be dealt with, to how we're going to control the digital dollar, which is the CBDC, and whether or not FedNow will play into that in the future. Then you tie into all this regulatory framework. And then lastly, but not least, is BRICs and their importance on the global front. If you look at this tweet right here on World Statistics, GDP at purchasing power parity of the world. Here's the G7. You can kind of see U .S., Japan, et cetera, all the way in there, 45 percent 1993, all the way down to 2028, around 27 percent. The BRICS nations, all the way down to 2028, they will actually accelerate over the GDP of the G7. This is pretty significant because all this was, again, projected by the IMF, the International Monetary Fund. One of the things around this is whether or not, and St. Auge talked about that, Peter, the guy that we just did a clip on, he talked about the importance of this gold -backed dollar or BRICS currency. If that were to occur, that would be, as he said, catastrophic for not only the U .S. dollar, but I think catastrophic for the globe because we would see a shift in power pretty quickly. So here's the alliance right here. This is a scary picture. BRICS alliance will discuss the usage of local currencies for cross -border transactions in the upcoming summit in August. Now, the good thing, the good news, if there is some, is they're talking about using local currency as opposed to gold. Had they used gold, that would have been a huge blow into, really, the future of the U .S. dollar, and they still may go that direction, so you have to be considering that. Again, why is it important to be investing in cryptocurrencies or digital assets? We've just painted out a picture for you and the reasons why all of this flows up in a very interesting domino effect toward how just monetary systems are going to be run in the next 100 years. Stablecoins' potential counter to de -dollarization, that's a big part of this. So in this particular scenario of this article, people familiar with the talk said that the last moment the White House National Economic Council, this was Lael Brainard, dumped cold water on this stablecoin bill saying it didn't put federal regulators in a strong enough role. And remember, if you'll recall, we did a video on this where, of course, Patrick McHenry and Maxine Waters were negotiating that. And there seemed to be an agreement prior to going to the vote. And then at the last minute, Maxine Waters pretty much got the phone call from the red phone and that was dislodged. And then, of course, McHenry went to the floor with what was the old bill that did not have all the changes in it. So again, a lot of politics being played out right here in D .C. And again, this is very important because of the global position and what we are trying to do to essentially compete at a very high level. I want to close this out quickly with our last clip here. This is just the stablecoin timeline from the Blockchain Association listening. It does, unfortunately, hinder it a little bit, but I've had conversations with staff and members of Congress after the fact, and they seem very gung ho in trying to resolve this issue before the whole entire House votes on that bill. But likely what's going to happen is that in the fall, there's going to be a general House floor vote. Every member of the House gets a vote on this, which, again, it's a lot of education. So I've already had some Republicans reach out to me for more the right wing of the caucus saying the stablecoin bill is just a CBDC bill. And it's like, no, it's not. It's nothing related to that. On the left, we're seeing a little more consumer protection concerns and also just the general crypto skeptic concern as well. So August, we're going to have a break and in the fall, you're going to have a vote, right? Exactly. But I think for sure in twenty twenty three, we'll have a general vote on the House floor. And then you can see for yourself what your members of Congress are supporting crypto or guardrails for crypto and which ones say, you know, nah, you know, I don't I think the status quo is fine. All right, so big actions happening this fall and part of this will, of course, will be the stablecoin bill, but also crypto and digital assets in general hitting the House floor. This and as Hammond said, this will be a critical time because the scenario that plays into this right now is it's going to showcase into a lot of what we'll see in the political runs and the campaigns that are being run next year in twenty twenty four. So this could become a little bit more of a voting scenario. So hopefully this has given you guys a rundown. I know it's it's it is a lot here to to kind of digest. If you're new to our channel, we try to break these down. And I promise we're going to try to get these in a little bit, maybe smaller bite sizes. But you can see the breadth of what's happening globally, especially here in the United States right now, because this is a fight for your wallet. And that's why it's so important and that's why we're seeing so much activity happen. You guys are part of the Diamond Circle. Great. Glad to have you in. But if you're not, make sure and join. All you have to do is click the link down below. We we do, of course, a podcast over there, a lot of additional research. I even do additional analysis over there. So it's a great place for you to start here with the PBN team. And of course, it's the best way to get to us. Just go to our website. You can join right there. Of course, if you're not following me at that out there on X, it's just at Paul Baron. We'll catch you next time right here on Tech Path. We'll be right back.
Monitor Show 19:00 08-06-2023 19:00
"Yeah, I want to just move to Barbie. Now, it's crossed the $1 billion mark in global box office sales, and it's just in its third week in release. Now, it's only the second picture to hit that mark this year, taking $53 million in the US and Canada in its third week, as well as now, what, $74 million internationally, so it continues. Yep. The next hour of Bloomberg Daybreak Asia begins right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act, this is Bloomberg Radio. This is Bloomberg Daybreak Asia for this Monday, August 7th in Hong Kong, Sunday, August 6th in New York, and coming up today, Fed Governor Michelle Bowman says more rate hikes will be needed. Berkshire Hathaway's operating profit jumps on insurance growth. China loses out to Japan as global funds chase returns in Japanese equities. In an exclusive Bloomberg interview, Prime Minister Netanyahu says he will not complete the judicial overhaul right now. China invites EU top diplomat to Beijing for meetings. Glimps of the Trump legal defense and election interference case. I'm Ed Baxter with Global News. There won't be a three -peat as the US women are knocked out of the World Cup. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports. That's all straight ahead on Bloomberg Daybreak Asia. On Bloomberg 1130 New York, Bloomberg 99 .1 Washington, D .C., Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM119, and around the world on BloombergRadio .com and via the Bloomberg Business Act. We're an hour away from trading in Tokyo, Sydney, and Seoul. This is Daybreak Asia, the Monday edition, and we're kicking off a new trading week.
A highlight from Binance Fraud Charges Coming? (SBF SECRET Connection EXPOSED)
"We are right here in Bahamas. We are going to make it right. If you became a millionaire, would you keep working? The commander is here. What's going on right now? California's trying to figure out. Oh, I can. Welcome to BitBoy Crypto, home of the BitSquad, home of me, home of you, home of everybody that cares about crypto, that cares about being sovereign, that cares about decentralization, that cares about fighting the good fight, that cares about stopping corruption. It is home for all of us. Please hit that like button. Today is August 3rd. It's 11 .31 AM Eastern Standard Time because we want to give you 60 seconds just to get up to speed. It wasn't us. It was not me. It was not Nick. It was not Tim. Ben will be popping up very soon. What? 10, 20 minutes? Something like that? Hopefully 5 to 10. Yeah, hopefully 5 to 10. So we'll see Ben very, very soon. He's finishing up filming something right now. I just saw him. I got my phone charged. I saw him just doing this. Hey, guys, you know, something, something crypto. So then he's filming. What is he filming? What's it? Nick knows this. What's the story? What's the video he's filming right now? Ooh. Can we share the alpha on what the next video is? Get a little tease. Maybe we can't. Yeah. It's a deep dive on Sam Altman. Oh, it's Altman. Altman. Yeah. Deep dive. Okay. It's going to be a good one. I don't know if I'll ever be able to say Sam Altman. I just have to say Altman. Altman. Also, we're going to have Crypto Face on. He's going to be talking charts. One of my favorite TA people out there, how do you feel about Crypto Face? You're big in TA. Did you used to watch him back in the day? No. No, I have watched him more recently. Here's the thing. You can't argue with the results. Crypto Face is clearly one of the best traders you're talking about. I'm the monkey talking right now. No, so you can't argue with his results, so he clearly knows what he's doing. I myself don't really use Market Cipher, but every time I watch people like Ben use it or when I watch Frankie use it or Kelly, I know, used to use it very heavily, I always had a very heavy respect for it, so I'm excited to have him on. We have a question for him that we came across the other day about when the green dots, the double dots, print and not print because we thought we knew. Snake eyes, there we go. Yeah, so I'm excited to have him on. I've been talking with him for the last couple of days, and it's going to be great. We could have some sort of a drinking game as to how many times he says non -family -friendly words. Okay, I have my water, and I have my black bean juice, and so maybe I'll do the bean juice, but then I don't want to get too wired. It's like I'm in an SPF polycule, you know, hopped up in amphetamines. Don't want that. Alright, let's get right into the show, folks. Let's look at CoinGecko. What is the crypto market doing? Let us know if you like us just jumping right into the news here. We have a refresh about to happen because I don't know if I trust this. Okay, yeah, we have fallen further. We are now down 0 .3 % for the entire crypto market cap coming in at $1 .21 trillion. I remember just yesterday it felt like 123. Bitcoin dominance coming in at 46 .9 and ETH coming in at 18 .2. Gas a little bit low but not super low coming in at 38 Gwei. Alright, well, let's check out what's Bitcoin doing, what are some of these larger coins doing, and the top gainers and losers of the past 24 hours. We have Bitcoin down 0 .4%, it's not looking great, it's 29 ,200, it's holding strong above 29 ,000. Tim, is there a level? We fall below, you're getting scared. What is that number? Well, I mean, I'm sitting at the moment not liking a lot of things. Actually, we're going to talk about some more Bitcoin stuff later today. Believe it or not, when we talk about the BlackRock stuff, we're going to pull up the Bitcoin chart, monthly chart, and look at what happens when we see red Julys. We're sitting on short -term support right now. I'm not going to do all of Crypto Face's job for him, I'm sure he'll go more in detail on this. So I actually think there's going to be somewhat of a pump today, shorter timeframes, four -hour, one -hour chart pumps, but when you go out to the daily, two -daily, three -daily, there's more room to the downside when you pull up oscillators. We're not necessarily sitting super low. We did have a bounce back over here, but we're kind of sitting in a spot, again, two -daily, three -daily, you're looking at oscillators, they still look like they're moving to the downside, concerning for me for the next couple of weeks, but I do think next 24, 48 hours, maybe a little green, especially after a red yesterday. Alright. And Flazik Travels has a question, Golden Cross, on what chart? If you watch ATB Morning Stream, we do a Morning Stream on ATB, it's 9 .30am to 10 .00am Eastern Standard Time. And I covered it, and XRP and Bitcoin have a Golden Cross on the three -day. So if you want to check that out, the three -day chart. The only thing though, let's ask Crypto Face what his thought is. I want to hear what other technical analysts think. To me, Golden and Death Crosses are some of the most worthless technical analysis signals. Alright, well, the Golden Cross for Bitcoin on the three -day has only happened twice. Another reason why it's not necessarily significant, you want to see history, you want to see something happen numerous times and play out at least 80 % of the time in a certain direction. It's like the Halley's Comet of market signals. When you look at Golden Crosses and Death Crosses, there's no consistency. It's like 50 -50, which is not a good call either way. So every single time you see a cross. Well, I think that depends on the timeframe, because in this particular instance, it isn't a 50 -50. It is a 2 -0 for this particular instance. So both times it's hit. Just to focus on the three -day here, it has happened twice. Both times, within 400 -500 days, we put in a new all -time high. And so, you know, just for the three days specifically, yeah, sure, it's maybe something to look at. So, you know, maybe check that out. Maybe we could try it on some different coins. Maybe try it on ETH and some other stuff. Alright, well, speaking of ETH, we have ETH, it is down 0 .2%. BNB is down to 4%. XRP down 2 .5%. Cardano down 2 .5%. Litecoin down 4%. And Nick, what do you think of this? I think I maybe found the new slam dunk trade, okay? Last time I shared a slam dunk trade, it was the old go woke, go broke. Next time you see a Fortune 500 company, just do some crazy insane stuff, you can probably short the stock. That was my last one. Here's the new alpha. Every single halving event has led to like two to three red candle days. Can you just short Litecoin the day before the halving? Can you just short Bitcoin the day before the halving? Fill in proof -of -work coin. Is this a foolproof method? What have you seen on some of these coins when they do have a halving date? People dump. People dump. Like the miners dump. Now, Tim brought up, you know, a metric, you know, sometimes you maybe can find a metric that's 80 % to the one side, you know, 20 % of the downside. Usually that gets found out and then, you know, it gets closer to closer to 50 % as people trade against each other. Is that the last good metric? If you had to say, is it 80 % of the time it dumps, 90 % of the time, 60 % of the time? How often does a coin dump the day after halving? I think for proof -of -work coins, it's in the 80%. There is also a pretty good correlation of network upgrades to proof -of -stake coins and then their coin also the price dumping. So like if Ethereum, every time there's been an Ethereum upgrade, Ethereum is dumped. Cardano upgrades, Cardano dumps, right? Like every single time. So well, there was that one period in 2021 where ETH had a record day of green candles, but I think that was just more about timing of the market and everything. Yeah, yeah, yeah. DZ, I'm going back and looking. Alright, now he's looking at the three -day here. Oh, God. I'm not sure. I'm not sure what you guys are saying. It's, again, it's happened twice on Bitcoin, right? And XRP. 50 -50. Here, positive. We have the red line. This is the 50 crossing above the, or sorry, yeah, the 50 crossing above the 200. Right here, three -daily. Positive. That was the bottom. Good. One for one. Let's go to the second time it happened. Red crosses above blue right here. Short -term pump, but continuation to the downside. That's one -in -one. That was not a new rally coming in. The continued market to crash after. Let's go to XRP. Alright, well, I would say there's an asterisk with that because of March 2020 and COVID. So, I mean, sure, you could say, yeah, it went down. I think if you remove COVID, the 2020 chart looks a lot like the 2016 chart. That's just kind of by, been my assessment for three years at this point. But here's the, I think if you don't have COVID crash, it would look a lot more similar to the previous cycle, and we would not have gone below that. This though, right here, DZ, that's COVID. This is not COVID. This is not COVID right here. This is just a pullback from the pre -bull market rally. I guess, yeah, we do come down here, but all this price action. No, no, the metric was 400 to 500 days later. I don't know what's going to happen 60 days later. I don't know what's going to happen 90 days later. The thing they're pointing at is 4 to 500 days later, new all -time high. Yeah, we're not talking about two months later, X happens. 4 to 500 days later sets in a new all -time high. That is the thing we need to be looking at. That is the bullish indicator. Yeah, you could say, well, 74 days later, it was bad. I think the main takeaway there, 4 to 500 days later. So 400 days, what is that? 365 days in a year. One year plus 35 days. It's 13 months. In 500 days, you add an extra 100 days, three months. So 13 months to 17 months later, 16 months later, you're going to have a new all -time high. It's happened twice before. Will it happen the third time? Do not argue with the dictator, says Krik Katz. How does your wife feel about that statement? Well, my wife and my girlfriend and my girlfriend's husband all know not to argue with me. Okay. So it's official. Nick's wife does not watch the show. Alright, let's look at the top gainers before we get to site. Alright, alright. I think we have someone ready. Speaking of gains, how's the gym been lately? It's been good. No worries here. Nick's wife's boyfriend is here. So here we are. Just kidding. We love her. She's great. She's great. She's great. Not in that way. Look, guys.
A highlight from 1360: The War Against Bitcoin - Permanently Banned From YouTube!
"In today's show, I'll be breaking down the latest technical analysis as well as breaking news. It is official. My YouTube termination is permanent. YouTube claims they made the right call without providing me with any evidence of any violations because they are full of it. This is a direct matrix attack against Bitcoin content creators, simple and plain. That's right. There is a war against Bitcoin content creators on YouTube. I know from firsthand experience, I'll be breaking this down for you. We'll also be discussing the latest from MicroStrategy. They say to stay on Bitcoin course, even if the spot ETF is not approved, according to Michael Saylor, and also he just recently BTFD'd, which is awesome. We'll also be discussing the individual charged with money laundering amidst the hacking Bitfinex back in 2016. I'll be breaking down this latest report, as well as sharing with you the calm before the rampage, a sign that Bitcoin is about to go on a huge run, according to crypto analysts. Invest answers. We'll also be discussing a massive pump incoming for Bitcoin. Can you say God candle all this plus so much more in today's show? Let's get some noise in the live chat. This is podcast episode number 1360. Let's kick off today's show with our market watch. As you can see right here in your screen, Bitcoin back in the green, trading at 29 ,300, up 0 .4 % for the day, with Ethereum also in the green, trading at 1 ,844 bucks. Now checking out coinmarketcap .com. The current crypto market cap stands at 1 .17 trillion, with just over 28 billion in volume in the past 24 hours, with the Bitcoin dominance at 48 .7%, back on the rise, with the Ether dominance at 19 % even. And checking out the top 100 crypto gainers in the past 24 hours, you can see XDC leading the pack up 12 .5%, trading just above $0 .08, followed by Optimism up 7%, trading at $1 .74, followed by Curved Out Token up 5%, trading just above $0 .60. And checking out the top 100 crypto gainers for the past week, we have XDC, PLS, and HEX currently in the green, while a lot of the major alts are currently still correcting and in the red. And checking out coinmarketcap .com, one of my favorite indicators, I mean the crypto green and fear index, my apologies. You can see we're currently rated a 52, which is neutral. Yesterday was a 53, last week a 51, and last month a 64 in greed. So there you have it. And those just joining us, let me know you can see and hear me loud and clear. Be sure to comment in the live chat, as I'll be monitoring the live chat on my phone throughout this live stream. And with that being shared, let's kick off today's show with Bitcoin technical analysis now that we completed the market watch. And then we'll dive right into the war against Bitcoin, and while no Bitcoin content creators are safe on YouTube, as I've officially been permanently banned for the rest of my life From that platform, we're going to be diving deep into why that is. And we have a whole lot to share regarding what's going on in the markets naturally as we do each and every day, seven days a week. So the show must go on. Let's kick it off. As you can see here, checking out the Bitcoin charts, Bitcoin dipped below 29 ,000 this morning, August 3rd, as the market concerns over the largest global exchange Binance reignited Bitcoin price downside. Data from Cointelegraph and TradingView showed Bitcoin heading lower before a modest come back into the Wall Street open. Rumors over new U .S. legal action against Binance made for a disappointing 24 hours for the Bitcoin bulls after a brief trip above 30 G's. It's like we're struggling to maintain above 30 G's, right? With the trading range still firmly in place, monitoring resource material indicators forecast a further bearish support retests to come. As shared right here, want to know what changed on the Bitcoin daily chart in the U .S. overnight hours? According to trend precognition algos, the probability of a downside move in the daily timeframe increased from 75 % to 84%, expecting a test of support at the trend line. And he also says if you're surprised, confused, or think the bidirectional volatility is over, you haven't been paying attention. And quoting popular trader Dan Crypto Trades, the past few weeks have been all the same. Number one, price grinds down. Number two, shorts get aggressive. Number three, shorts get squeezed. Price goes up. Number four, spots start selling. And number five, the price rolls over, rinse and repeat, until spot starts bidding after these squeezes. We'll just keep doing these full retraces. That's right. And quoting Crypto Quant, I have heard about the bank run insolvency risk on Binance 100 times for the year, but their usual balances always tell a different story. And as outlined right here alongside these charts, now Bitcoin volatility prepares to undercut stocks, including gold. So let's discuss this. According to the Bitcoin Historical Volatility Index, weekly volatility was headed towards record lows seen at the start of this year of 2023. As outlined here in the Bitcoin Historical Volatility Index one -week chart, this chimes with existing comparisons to January with the Bollinger Bands data, likewise echoing the period immediately prior to Bitcoin's quarter one breakout. Here's what Dylan LeClair had to share on crypto Twitter. I should say X crypto or crypto X, now that it's no longer Twitter, just FYI, 10 -day realized volatility for Bitcoin near the falling below average of stocks, bonds and gold. So there you frickin' have it. With that being shared, fam, welcome again to y 'all just joining us and tuning in. Now I want to discuss being banned permanently for life from YouTube. I created my YouTube channel initially almost six years ago. I think it was back in 2018 when I relocated from Florida to Puerto Rico and I started posting content virtually every day. I had roughly 1 ,800 videos which took roughly six years of content creation, which got me above 56 ,000 subscribers. And as many of you know from the previous episodes, I woke up and it was all gone. Without warning, without any strikes, I just woke up to an email saying YouTube ultimately terminated my account. So I went through the appeal process, which is how it works. You get to appeal and I put in my appeal and they basically said they reviewed the appeal and they aren't going to change their mind. They said I am now banned permanently for life. So here are some of the tweets I've recently shared on X so you can see what is going on behind closed doors and then we'll dive further into the news stories here in the crypto market. But this is more relevant than ever because after having this platform called YouTube for six years, I no longer have that platform. I have been ghosted as if crypto news alerts never existed over the course of the past six years. Also, let me know how that makes you feel. Shout out to Zap Crypto Cow. If you get a frozen screen, all you need to do is refresh and it should work for you just FYI. I appreciate the support from everybody. Much love and much respect. So here we go. Let's dive into what happened. So I shared this morning on X. It is official. My YouTube termination is permanent. Team YouTube claims they made the right call without providing me with any evidence of any violations because they are full of it. This is a direct matrix attack against Bitcoin content creators. Simple and plain. I also asked them, yo, Team YouTube, the least you can do is give me all my videos back temporarily. An example, maybe for 24 hours so I could at least sync them over to Rumble. Let me know if you're willing to do that and which they are not willing to do. Just FYI. I also shared there is a war against Bitcoin content creators on YouTube. I know from firsthand experience being terminated under false pretenses after almost six years of dedicated content consisting of eighteen hundred videos, they terminated me without warning. However, the same content over the years has been syndicated on every major podcasting platform and never once have I violated any policies on any platform for creating harmful and dangerous content as they allege. I believe I was targeted by YouTube because of the purity of my content. An example, my devout faith in Bitcoin and my disgust towards the central bankers and forces of evil. I teach my followers to unplug from the matrix, opt out of the corrupt fiat money system and resist the slave mine. This is why I am perceived as a threat to the powers that be. So there you have it. I also shared it only took me five years and eighteen hundred videos to grow my YouTube channel, which was terminated at five a .m. three days ago under false pretenses for allegedly repeated violations of harmful and dangerous policy, which is false. Speaking about Bitcoin considered harmful and dangerous now, what the heck? And I wrote for the record, my YouTube username is Crypto News Alerts and never once have I ever received a violation, a strike or a warning for violating any YouTube policies. I share crypto news seven days per week in a live stream format. I have never produced any harmful or dangerous content. And then this morning I wrote, I was told that I would get a response to my appeal. And then they said, hey, if you missed it, we replied right here. So here's what they wrote in case you missed it. Let's see. They wrote this. I'm going to click on it. They're claiming I violated this policy. So let's read the policy and what the heck it says. I'm going to refresh here.
"74%" Discussed on WTOP
"74. Sounds good Jordan thank you. Coming up singer Lizzo responding to some shocking allegations. patients 1221. it's If you've fallen out of love with your home Maybe you just need a refresh. Contact SertaPro Painters and we'll put the power of pro to work for you. That's SertaPro's power to transform living rooms and rejuvenate kitchens. The power to get the job done right on -time and within your budget. Get that lovin feeling start back your with project the help of at SertaPro SertaPro painters. .com. The power of pro each Serta Pro Painters business is independently owned and operated. from More, Bob's Discount Furniture more, here more. to let you know Hi, that we're little opening Bob a here brand from new store in Bowie located at the Free State Shopping Center center bringing even more of Bob's discount to the people of Maryland with endless styles and endless savings on my daily rated furniture, mattresses and more. Way to And if get you unbeatable can't wait, furniture my prices bobs dot delivered com straight is still to the your quickest home and today. easiest way Have a win win summer Coming at Bob's to Bowie this Discount Furniture Labor Day weekend. Introducing a completely redesigned Dix Expanded Experience. assortment of A the reimagined latest apparel
A highlight from Richard Heart Could Face LIFE IN PRISON (The End Of HEX?)
"Any of you guys from the SEC are listening I hope you are I want you to know in the deepest Deepest parts of your heart that I've saved a lot more people from being wrecked than you have Because I did everything I could to prevent people from putting their money into BlockFi Did you I did everything I could to prevent people from putting their money into Celsius? Did you I did everything I could to put people in charge of their own keys and get them to? Have self custody. Did you do that? I called the top on the day. Did you? What have you done? So I break my balls to save people. I'm warning people about bad daps fake airdrops Showing people constantly every single hack that happens right I hand out free coins out the ying yang I created free coins give them to Bitcoin quarters now creating free coins giving them to aetherium and every single er c20 holder I'm the giving tree of crypto. I raised 27 million for charity You know what the SEC did the SEC? 50 Got paid million dollars. All right, so that is Richard heart and whatever he says there I'm not sure if it's gonna help him when it comes to this big case against the SEC and we're gonna talk about the SEC case and Richard heart and what it means we also going to Talk about Bitcoin and where we're at with Bitcoin. So yesterday when we were on the show we said that It was decision time and Bitcoin needed to either break up or break down It looks like we got our break down and we are at the same level exactly the level which Annie said when she was in The show yesterday. She said it's gonna be twenty eight thousand eight hundred a presto about I said Is it gonna go up or down from here? She said it's gonna go down and she's looking for the twenty eight thousand eight hundred But look not all is lost We have dropped one level which is the 50 the 50 ma the 50 the 50 day moving average We've dropped that level but we are here at Another critical level. So I want to show you this this level here if you take Let me make sure you zoom out first. Let me go on today on to the daily and if you take this trend over here And okay, let me just get off the screen So if you take this trend line over here, it is exactly what Garrett said in terms of the trend So we are let me just get that a bit more a bit neater my charts are my charting skills on the screen I'm not great but you can see that Bitcoin is now moving back towards this trend line over here and probably if you look at that the Next critical level is about the twenty eight thousand. So we are going to talk about that We're also going to talk about this Bitcoin dominance spikes It's not a big spike but Bitcoin dominance actually did start going up and the reason why Bitcoin dominance started going up is because If you look at the bubbles you can see that there are two things that are really weighing down crypto So the first thing is the hex and pulse story. You've got hex down 26 % you got pulse down 45 % But I'll show you something very cool here when you look at hex and pulse Is that if you go to the hourly you can see that they're starting to recover on the hourly So yes, it's been a bad day for hex and pulse but if you go down to a shorter time frame What you can see is that these tokens are actually starting to turn and this may be your indicator that it might actually be buy Time so one of the things we are we should talk about today is we should talk about whether this is the end For hex and pulse or whether we're gonna get some kind of recovery now Magat says that Maybe it's not the end and maybe there's gonna be some kind of recovery the other big sector that you can see is Benicha Ave compound synthetics all the The DeFi token specifically the big DeFi 1 .0 tokens that have a lot of traction They got hit and we're gonna talk about why they got hit Because it's all got to do with curve and the hack that happened on curve But ironically it's actually not the hacker that's pushing down the price The big issue is that what's going on here could be a huge a huge hit to crypto This could be something that takes the market down by 10 or 20 percent overnight if it happens So we got to talk about all of that then I've got to Admit that I was half right and half wrong. So I said that FTX 2 .0 would never ever start I said that never ever start the exchange again And I was half right when I said it because I said it in context of the fact that the exchange token is going to be worth nothing and it is gonna be worth nothing but I was wrong because it seems like the FTX exchange is gonna restart. It's gonna restart pretty soon and We're gonna talk about that today. So there's a lot to talk about today. It's a massive massive show We haven't had a big news show like this for a long long long time Let's go. Let's get this on the road I Mean it's been a rough 24 hours for old coins If you look at that the old coin market hasn't been great and you can see it in the dominance Going back up towards that 50 % remember we were on forty nine and a half and you can see it in the banter bubbles Where you can see that the the the old coins have been really really really hard hit We're gonna talk about each one of them and why they've been hard hit And whether or not this is the end or whether we can expect another leg down Let me tell you that there is a real risk of another big leg down in crypto If if this curve situation doesn't resolve itself, then we've got a very very very big problem We're gonna get the defy the defy protocols the big defy protocols with all the traction They are going to get destroyed. They are going to get crippled if this curve thing pans out So it's a pretty serious thing We did start covering it yesterday, but I think we're gonna speak about it today because it could actually affect your portfolio It's also an amazing amazing amazing opportunity and I'll show you what the opportunity is regarding the curve token So I do have a long positioning curve I was stopped out a little bit of my curve position overnight because the price dipped and I'll show you whether or not it's worth actually getting into a similar trade on curve and where you should get into into Similar trade on curve because there's a lot of money to be made here There is a fort if you know what you're doing. There's a fortune of money to be made here I Think that's what we're gonna be covering today. If you are new to channel subscribe to channel Give us some love help us get on shadow band. We shadow band again. We keep fighting each of these shadow bands We just cannot win the only way to get rid of them is if you give us smash the like button and if you comment and they know that We're producing good content Obviously only do it if you think we're producing good content, but of course you think we're producing good content Otherwise, why the hell are you taking are you taking hours out of your day to come and join us here? That doesn't really make sense. Also If you are not yet signed up for the Bible competition, we will be giving away iPhones on the show today Let's just have a look at our squad We have we have 1948 people in our squad Let's see what the number two squad or the number three squad. In fact, let's just see what the squad layout looks like Okay, let's just quickly see what the layout looks like Okay, my squad if I want to change squad don't you dare do this don't don't change squads we need you in our squad Okay, so we have 1948 the winning team. Wow, we're catching up to them that we've got 70 with 74 behind them We've been 200 behind in the whole time All you do there is a link underneath this video sign up with a crypto banter by but referral link and then sign up to Our team we are going to be giving away the full eight million dollars that we win if we win to the community We're not keeping anything for the host also today We're gonna be giving away two iPhones at the end of the show to two people that have signed up So if you're not already signed up sign up, I mean you basically get an opportunity to win 20 iPhones between 2 ,000 people That's one in every hundred people is gonna win an iPhone and we're gonna just keep giving away iPhone and iPhones until we bolster this squad Alright, let's get into the meat and potatoes of the show because I think there's a massive massive massive show to talk about today There's lots of news. We haven't had news like this for a long time It's actually one of those days where I actually really want to do a show because there's so much to talk about So I think we should probably skip the formalities and just get straight into the hex story because it is a big big big story and I think the big question is what is Richard Hart gonna do is Richard Hart actually going to fight the SEC? or is he just going to be do what everybody else did and Actually settle and I think that I have some insight today. I'm gonna build a story today I'm gonna show you why I think that Richard Hart may actually fight this till the very end I don't think he's gonna just take the the settlement I'm gonna show you why in a few seconds, but for those of you don't know what is going on I think you obviously know who Richard Hart is we showed him in the beginning in the beginning of the show. We also We also on the eve of the launch of the Richard Hart Okay, we are set for you Richard What do you want people to know about you I got a big dick this here is three point one million dollars watches I don't know as big as diamonds you don't I do is Richard Genius legendary arrogant bit of a narcissist the benevolent king quarter -million hate me hate me I'm farther than you'll ever be in your whole life. Who does this guy think he is? Whatever the governments have been doing it's not worked out You've never had worse interest rates. Your money has never been worth less. Everything is getting worse Only thing that's making it better is crypto currency. It's better than the dollar. It's better than gold. It's better money Crypto is money without governments and it is money without banks You're not gonna meet another product like this as long as you live. Yes, every scammer in the world is gonna say this is the trailer for the Richard Hart movie and I think on the eve of the The Richard Hart story the SEC comes out and they make an announcement that they are suing Richard Hart aka Richard Schuler His real name is Richard Schuler and three unincorporated entities that he controls hex pulse chain and pulse X with conducted Conducting unregistered offerings of crypto asset securities that raised more than a billion dollars in crypto assets from investors Hart called on investors to buy crypto asset securities in offerings that he failed to register with SEC He then this is where it gets tricky He then deferred those investors by spending some of their crypto assets on exorbitant luxury goods This action seeks to protect the investing public and hold hot accountable for his action So the SEC coming out with one of their we caught you announcements. This is the document. It's about 27 pages I read all 27 pages so that you don't need to read 27 pages I'll show you the points that are actually important the points that actually make sense So the first point that actually makes sense is what hearted was he raised 2 .3 million etherium from investors with 678 million dollars for the hex project back then it appears at 94 to 97 % of these each deposit saver were Recycling transactions directed by heart and other insiders which enabled heart or other insiders to gain control of a large number of hex tokens What that means is that he was taking the ETH that was deposited and he was recycling them to get more Tokens for himself and other insiders again. This is the allegations as per the SEC He says investors also invested more than 354 million by depositing their crypto assets to the pulse chain public wallet address in exchange for the promise of a future delivery of PLS tokens in connection with pulse X investors invested more than 676 million dollars by depositing their crypto assets to the pulse X Public address in exchange for the promise of future delivery of pulse X tokens They're going after him for hex for pulse and for pulse X now up until this point this whole thing is just a civil case between heart and the SEC for Potentially selling unregistered securities to this point. It's pretty simple straightforward and probably the same charges at every other ICO Founder is going to face now. Some of them will fight the the charges and something won't fight the charges That's just that's just what it is. But this is the point where it gets a little bit more tricky. So if you look at page 7 so it's point up to him Additionally heart and pulse chain defrauded investors by misappropriating at least 12 .1 million of pulse chain investor funds instead of using these funds to develop and market the pulse chain network or even fulfill hearts explicit statement that invested funds support freedom of speech heart and pulse chain used 12 .1 million dollars of investor funds for hearty for hearts personal hearty luxury luxury purchase Including a five hundred fifty five carat diamond the biggest black diamond in the world expensive watches and high -end automobiles now But I mean that was the lifestyle that that that heart was actually and we all saw this we saw the sports cars We saw the watches now. There's a big question here Is this misappropriation of investor funds on the one hand? He did tell everyone that they were sacrificing their money and if you sacrifice the money Well, then you're not actually an investor and if you're not an investor, well, then you don't have any rights that investors have so what the SEC is going after him for is they're making an assumption that a these tokens are securities and that be that he actually Misappropriated funds now again the term misappropriated funds means that Investors had expectations investors had expectations that the funds would be used for a certain purpose. These weren't investors. These are people that Sacrificed their money and probably that's gonna be hearts defense now I wonder if he actually got any legal opinions Before he actually did this and if he did get those legal opinions I wonder if he actually listened to his lawyers or whether he's eager got the better of him because it's all very well You know, sometimes you you get advice from your lawyers and as you end up making more and more money You start thinking that you're more and more invincible and if you Feel more invincible then you may stretch what your lawyers have told you and kind of justified it to yourself that it's okay to use These funds perhaps perhaps you can call this marketing Perhaps you can call this, you know part of the game to try and get people to sign up to the next community You know and you could say that this was what you did The other issue is that it seems like the SEC said that he is a US citizen, but he also The offers offering for sale of hex and hex tokens have not been registered with a commission and they were available to US investors and I think that that may actually be Another another issue that he has I'll show you I'll show you I think it's a point Page 11 so point page 11 hex hex conducted the worldwide offering with no restrictions on who could access hex and hex dot -com and he said that when hit websites and These transactions can be traced to at least 21 ,000 156 wallet addresses including addresses that belong to investors in the United States.
Start mammograms at 40, not 50, a US health panel recommends
"There has been a suggested change to when women should begin to get mammograms. According to a draft recommendation from a federal task force, women should start getting every other year mammograms at age 40. The U.S. preventative services task force has long said, women can choose to start breast cancer screening as young as 40, with a stronger recommendation that they get the x-ray exams every two years from age 50 to 74, other health groups differ over when and how often to screen, like the American Cancer Society. They say women ages 45 to 54 should get mammograms every year. I'm Shelley Adler
U.S. consumer confidence drops slightly in April
"Consumer confidence has fallen again. The Catherine sport says its consumer confidence index fell to 101 this month. It was 104 in March. That's the third time in four months that overall consumer confidence has declined. The conference board's present situation index, which measures consumers assessment of current business and labor market conditions inched up slightly. But the board's expectations index, a measure of consumer 6 month outlook for income business and labor conditions fell to 68 this month from 74 in March. A reading under 80 often
"74%" Discussed on The Catechism in a Year (with Fr. Mike Schmitz)
"And you're listening to the catechism in a year podcast, where we encounter God's plan of shared goodness for us, revealed in scripture and passed it down through the tradition of the Catholic faith. The catechism in the years brought to you by Ascension. In 365 days, we'll read through the catechism of the Catholic Church discovering our identity in God's family as we journey together toward our heavenly home, it is day 74 we were reading paragraphs 5 22 to 5 26, as always, I'm using the Ascension edition of the catechism, which includes the foundations of faith approach, you can follow along with any recent version of the catechism of the Catholic Church. You can also download your catechism in a year reading plan by visiting Ascension press dot com slash CI and you can also click follow or subscribe in your podcast app for daily updates and nearly
"74%" Discussed on Horror Lasagna
"Actually. It's kind of funny. We really will do. Not just a break nancy critters but segues one and like the shared world thing yes a variation on about is where sometimes things have gone on for a while and the original creator halfses but there really are a desire to keep the series going. There's there's rational inheritors to that. So dune is on tv. Right now and frank. Herbert wrote the initial dune. Books'd but there's actually besides the let's say half a dozen in the initial do books. There's another half those that were written by his son. And i think brandon sanderson michael j. r. kevin j anderson at seventy. Thank you exactly yes i should. yes The fill in more about the banana. Guess read more about the you know how spicer end space holding was first discovered and l. duncan idaho and they the fact that that i really liked the fact that they were able to capture kind of the not only the the universe of it the characters on it but that the writing style was similar enough that it wasn't jarringly. Well before i was doing jazz. I'm doing rock and roll. You know that kind of thing and there's any number of things where sometimes they try to continue it and maybe it is jarringly different. But for instance. I i love the a robert b parker wrote us. The number of series spencer's his most well known creation. You know the the Tough guy private. I probably forty in the series of the three dozen something like that and he passed away ten years ago. But the books about spencer and about jesse stone up in paradise and about sonny randle have continued to come out and the foundation that that is the robber. Bees robbery parker. I dunno trust continues to find authors. That seem to have a good feel for how they were written a good feel for the characters and that there's been very few books that were like. Oh okay the series is dying now because they you know james bond has been on and off with people that followed ian.
"74%" Discussed on Horror Lasagna
"Kind of funny. They they don't usually. We're not the young couple out on a date. So we're not perfect grist for the mill. But when they talked to us and we don't try to be funnier than them that we try to give them material to work with. We've had a number of people that really seemed to be. They don't mind us being there. They don't think that we're the plant is trying to wreck their act. You know what. I mean so drunk that they're insisting on give me the mic. I'll do show a. I could do that. That's easy that's a whole conversation. So you mentioned music. Let me tell you about my weekend. Okay very good. As island to new orleans by vampires in new orleans teacher in new orleans knew this was coming. So this was the big world building workshop. The big shared. Okay fantastic weekend. First of all our group of what it is j. thorns act bohannon rate these world building events with a theme. I went to the one sale per witches and this one was vampires in new orleans and take a couple extra days. You explore the city gather. Soak up the atmosphere. Not going there just to be in a hotel. You're there because they put in salem for a reason in dollar per reason. Yeah so the the highlights of the whole thing. And i have a really cool story. I'll make sure and share that with the ability comes out. But the highlights were the very first day kicked off It was zoom call but dacre stoker got on and talk to all of us about the research ochre. You mean like bram. Stoker related rand nephew. How cool is this. Yes wow he. Dacre has researched his great grand uncle a brom into his writing and that he does talk and he's fantastic Hockey he actually got a first edition that his uncle hat and his uncle's is signed and he got replicated on trying to get one i didn't know they existed but anyway so he actually has worked with. Jd barker mentioned. And they wrote a prequel the dracula using notes that rahm hat traded they. They figured out where the castle would be on a map and They use some 'cause like in the preface to the swedish edition of dracula. It was longer than the english and he talked about jack. The ripper today. Include jack the ripper in their prequel store a lulu your wolf. Newton type things where yo- literary giant figures are actually..
"74%" Discussed on Retire South Shore Radio
"74%" Discussed on Bobkast
"Unite stealing from the over skin. Verma the mercy already put. The santa mangone held his dental constellation. Lights micah mapo men Men so in spirit. And so the thanked me to paul approvals. A mild that would remind men. The joined number in bra does not calm the iphone or out over sheet. Onum eh type to damage. I believe are carrying teeny. Something referred at scum obvious c-a-b-a shoot down some lead. The pskov reduce for example being able to received alcohol lava reveals tesco gov winters some notice comedown mikiko spookier mandevu. Mandel kiss me for the duke. It's not a document. Neil ni- also stall too so can neither be netted us thought is akin speed brune bidoun spirit Al lamin Chai mandel scum be just early album. Santoro proposal madogre. Would avoid reluctant to tom. Hagen in bitty giving mom sectarian on saturday and now where i chewed..
"74%" Discussed on This American Life
"74%" Discussed on This American Life
"And i said well where are you from. She said that I mean i. I didn't know. I assume that she was part of our show. I thought that actually what she was didn't occur to me that she was associated with the psychiatrist because she didn't look anything like them and i thought the what she was probably was. What is. I wish there were better term for this. But the general computer trade show term for this is booth bimbo which is somebody who stands in the in the booth selling the incredibly difficult to use software Who's an A model or an actress or something. You doesn't know anything about the software but The the marketers sort of dangle her out as bait right and then you know once once she's gotten these poor innocent akers to wander over so they can talk to the beautiful girl then when they get him right geeks move in right. The geeks move in house lamothe and but i'd honored practice right exactly it. It works and so. I just assumed she must be a booth bimbo because she was much too. Beautiful to be with a computer hacker or a psychiatrist and wind and do madonna. She was a psychiatrist. she was But i i said well where are you from. She said well. I'm from a little town in british columbia. And i said well that's interesting. I'm from a little town in wyoming. Which is kinda like briskly Where do you live now. And she said new york. And i said well that's even more interesting because that's where i live. I swear to worry. Where do you live in new york. And she said nineteenth and third. And i said well. That's not too far from where i live. I'm i'm down at the lower end of fifth avenue. And she said where. And i said well fifth and ninth and she said really which building and i said since the old Fifth avenue hotel. It's twenty four fifth avenue and she said really Well it turns out that. I just got an apartment in that building. In fact she had just gotten an apartment Precisely two stories above mine in the same building so so there was this this woman that i had an instantaneous and inexplicable attachment to who was about to move into my apartment building and we just went off together and and actually moved into gather really literally week after we met so. When you're at the convention with her you spent us you spend all your time together base. Yeah from that point forward. And and i also it was. It was a great opportunity for me to introduce her to my world in a lot of its other dimensions because The grateful dead was having a concert in sacramento One of the knights of these joint conventions and so we went over. She sorry for his dead concert. This is a person who would never have been caught dead dead concert. Explain your connection with the grateful dead. oh i spent. Many many years is their sort of junior varsity songwriter songwriters. I was the lesser of the two. And so what did she think of the concert but she she liked it a lot She thought she's the deadheads fascinating. She thought the music was was great. I mean but the other thing was that we were just completely hopelessly besotted.
"74%" Discussed on This American Life
"He lives in amsterdam runs. Radical honesty workshops. All over europe is website. Www dot honesty. Europe dot com. When worlds collide. So this next story begins at a convention. Well really two conventions john. Perry barlow was at a convention in nineteen ninety-three for the next computer. That's the machine that steve jobs created after he cofounded apple computers the other convention going on at the same time was the american psychiatric association and our story starts at the border between those two john. Perry barlow was a former rancher song or assist and when i heard the story back in the day he was headed the electronic frontier foundation. He traveled everywhere talking about computers. And that is what brought him to the mosconi center in san francisco for this convention in one thousand ninety three and i was supposed to be giving a i was supposed to be the mc at a at a steve jobs celebrity roast and Across the way the psychiatrist were having a seminars thing so before we even go anywhere mean it really does sound like a when worlds collide sort of fog totally. Yeah yeah it was because because the thing about a convention is is that each world is so distinctly its own world with its own concerns and its own priorities and its own paradigm. Oh yeah and and both of these groups of people were so distinct from one another. I mean Psychiatrist group have a look and next users and the next was one of the only computers. I've ever been around. Where the whole notion of design was really important to the product elegance of design and attracted the strangest kind of of hybrid which was sort of like unix weenies by mani combination. Okay and described the and describe what what the psychiatrist tend to look like what was there. What will the psychiatrist were. All you know the sort of jules feifer cartoon psychiatrists tweed.
"74%" Discussed on This American Life
"Let the hobart display a bit dejected. And checked out some of their competitors the champion dish machine companies can have been more different than the hobart display they were like the massive bright chirpy hobart crew just a couple of guys. Drab brown suits spoke to a guy named peter for awhile s keep. Any dishwashers visited the booth then had as i was about to walk away. He asked defies dishwasher. Pete was kind of spooky. my cover was blown. Peter introduced me to hanko. The president of champions he had written a year prior requesting a copy of my publication dishwasher. I kinda can't believe that. The company's head honcho butter ten such an event who was even more surprised that he remembered quite was dishwasher. Pete goes all pieces. He goes his. He goes all over the country washing dishes and he writes about him and puts out this little book every every week. And it's funnier than the national. The problem we wanted to put some of his articles on the web page and send them out to some of the consultants and all that but we have to add a little bit spicy for some of as show going. This year has been fine. We're not overwhelmed with with hanging. I talk dishwashing. Iced peaks over at the hobart. It seemed ridiculous that had previously scoffed at the champion guys. And not that. I find solidarity among the hobart crew. Hobart folks no look like the incredible highschool to jackson cheerleaders were popular yet shallow. Meanwhile here the nerdier champion guys grew late more whereas coming from the not entirely well hang. I did have a good conversation from the ends of the spectrum he. The president of dish machine kept me. Dishwasher i still needed to find an actual fellow dish dog as the show was winding down. I left the crowds and commotion descending three flights of stairs heading deep down into the bowels of the convention center until i came upon a door a push a button next door and moments later. It buzzed open. I wondered through the labyrinth of corridors peeking around corners. And acting. As if i belonged there whenever i encountered someone then i heard a familiar in the distance. Doing so you're the man behind the scenes The man behind the scenes washing the dishes. Yeah his name is jesse and he was working alone in the cavernous dish room unloading dishes from a huge thirty foot long conveyor belt style machine just like the ones on display upstairs. But do you think there's anything our radio audience you know about the man behind the scenes down here out in the dish room. Got say that did it. I like the job. Keep me out of trouble after the streets and everything. I hard work. The lawyers are nice people. You know.
"74%" Discussed on This American Life
"Dishwasher. Pete searches the national restaurant association for traces of the american dream. One that bob dole would actually approve of. What's in a minute. Macabre radio when our program continues support for this american life comes from straight talk wireless tired of trying to get work. Done on poor wifi. Be your own hotspot with straight talks. Ultimate unlimited plan. Get ten gigs of hotspot data for fifty five bucks a month all on america's largest most dependable networks straight talk wireless compatible device required see straight talk dot com this american life. Myra glass each week in our program. Of course we choose a theme bring a wide variety of different kinds of stories on the theme. Today's program conventions we are in the middle of act to dishwasher. Pete real-life dishwasher at the convention of the national restaurant association. Working as a dishwasher on muffin told start here and some day. You may own your own restaurant. Bosses tells us all the time. if that's true it been surrounded by tens of thousands of former dishwashers. Had the restaurant convention. Do you have much experience washing dishes yourself. I can't say that. I have i only at home. You haven't done the past. It's not that effective dishwashers. You're invisible to most restaurant customers. But why was it important. Part of the industry being ignored at this gathering at celebrated every aspect of the restaurant world. Sit out to find some of my fellow. Dishwashers stopped by asking him. If they've seen any dishwashers walking around. I received negative response after another one restaurant owner. Snively told me she wouldn't think of bringing dishwashers to the show. But then i realized there was one place. I was sure to find to dish. Brethren like a moth to the flame. I headed straight for the hobart display as the largest manufacturers of commercial dishwashing equipment. Hobart is legendary amongst those of us. Who washed dishes for a living there. Muddle dish machine would surely be staffed by real life dishwashers. Hobart display was quite a spectacle buzzing with activity with free. Beer doesn't trippy. Sales reps squaring match bright blue shirts. I half expected there to be bikini. Clad women launching a top displayed dish. Machines my hopes for finding dishwashing camaraderie didn't pan out principle. So we're no dishwashers operating the machines. In fact the machine sat idle. And i didn't find much kinship with the hobart salesforce hobart jerry. Baylock showed off their new sink. The turbo wash that circulated water to enhance the soaking of pots and pans with the dish machine. You've got to have somebody to man with this. You don't so you're able to d- staff your kitchen so to speak. So it's a big labor saver. Yes it's more expensive than a three compartment sink but it's less expensive than having a full-time and boy. This shows up every day a fulltime employed dozen. What do you think about the The dishwasher who must be facing layoffs because of the labor savings labour-saving devices. This this does not take very qualified person. It allows one person to do several jobs within they dish room activity instead of having to people to do two separate jobs so it actually is going to help out giving more job security to the person that is working in that dish room area. Now why would that be because they can do more within the dish room they can operate the dish machine both hobart sales reps that. I talked to told me that not only have. They never held dishwashing jobs but they hated doing the tour at home. What's dish machine. Representatives were these to me. They were like surgeons.
"74%" Discussed on This American Life
"They were peddling theme outfits so a restaurant staff to dress up like pirates or clams at come expecting to find groupings of restaurant owners smoking cigars rubbing their bellies and exchange entails event. They stuck into their employees. So where were they. In the meantime there was something on my agenda. Something that's always on my agenda free food. Plenty of food products were available for sampling nibbled. My way alone a hunk of chocolate here of veggie burger there waffles. Chicken tenders stir fry jelly beans. This part didn't seem so bad. That was until i arrived at one of the booths. Giving.
"74%" Discussed on This American Life
"Than they were peddling theme outfits restaurant staff to dress up like pirates or clams come expecting to find groupings of restaurant owners. Smoking their cigars rubbing their bellies and exchange tales of anti stuck it to their employees. So where were they. In the meantime there was something on my agenda. Something that's always way agenda. Free food plenty of food products for available for sampling nibbled. My way alone hunk of chocolate here of veggie burger there waffles. Chicken tenders stir fry jelly beans. This part didn't seem so bad. That was until i arrived at one of the boosts giving away free beer there rest fierce competition to reach the bar. Being jostled from both sides guys in suits bit unsettling. I hadn't planned to be informed with these. People came to the show to be inconspicuous into inspect the socialized rub shoulders with folks who might otherwise be my boss. After i finally served stood back and watched the boss types push and shove their way to the free beer turned watched. Another crowd of boss types clamoring to receive free. Plastic keychains at another booth. This to me was weird. I had expected that with this many bus types in one hall the air would be thick with authority instead. These authority figures were giddy over receiving plastic trinkets disturbing to see all these types away from the restaurants like being in the sixth grade and senior teacher. Walking down the street holding her boyfriend's.
"74%" Discussed on This American Life
"I spoke with crowley who worked as a facilities manager at the mosconi center in san francisco one of the biggest convention centers in the world and he told me that. There's a kind of life cycle to conventions that happened in predictable. Phases the first day. Everybody's disoriented people get lost. People are still individuals at that point. They're not a group just yet. The second day people start to group and and Begin to bond form those little packs of of people and by the third day of the convention there's definite friendships that are made and groups of people that are following each other. And you start to recognize. Who your peers are you kinda you create or they create their own little Herd mentality if you will and all. This happened john on the first day. He did want to talk to anybody. He felt like a loner by the second. He found some friends at volunteer desk. And the costume ball in these people seem like they were pretty fun so some of the people i had talked to during the day. I said let's go back to my room. I've got two bottles of merlot and let's all get drunk and talk about dark shot. But then sadly john discovered the inevitable phase of any convention. He got sick of it in this case too much tv too much merchandise too many pictures and videos of dark shadows going everywhere all the time too much sharing. He woke up the morning of the third day with cheap wine hangover never wanting to talk about barnabas collins again or at least for the foreseeable future. He had to force himself to go downstairs to the final banquet which had already paid forty five dollars to attend in. This other guy was sitting next to me and we've talked a little bit about the show and it was like he started talking. I mean he was from long island. He asked me where i was from. I said chicago and he said he had gone through chicago and and He sa- changed the subject to sports about the bulls. And i don't talk about sports ever. I don't know anything about sports. I don't. I don't even follow the bulls won the championships are going on which actually is very very hard. It's like trying to. It's christmas if you've ever is everywhere like and i found myself sitting with this person at this convention talking about the bulls talking about the bulls in chicago and in your normal life if somebody We're trying to talk to you about sports. You'd be thinking to yourself. I wish i could be talking about something dark shadows right and there was. I was engaging him in talking about the bulls. And i was saying you know when you were in london. Did the bulls championship. Go on. where were you you know. Are you bulls fan you know. Are people talking. You know and.
"74%" Discussed on This American Life
"Your outfit at this point. Well i hit. I put on my red burgundy crushed velvet. Pierre cardin jacket that i'd gotten at the salvation army for five bucks. Hit a little water spot. On the back of. I had put on my rhinestone broach. That looks sort of like a flaring sun with this big huge rhinestone right in the middle of right in the middle which i pinched my silks silk shirt and black pants and My shoes which were Quinton colin shoes from the nineteen. Sixty show i mean. I found john was the only one there who dressed up at least the first day. Everyone else was in shorts summer clothes casual clothes. Which makes a person wonder. Am i the weirdo. John will get on the elevator wearing his convention. Name tag with non convention hotel guests in they would look at me then they would look at my badge and then they would look at me again. I felt at that moment. I'm like. I'm the weirdo. I'm the weirdo in the elevator. I'm.
"74%" Discussed on This American Life
"Regulars news. This american life may remember one halloween producer. Nancy updike and i visited john and his friends Facts and erica. Doing their weekly ritual of watching dark shadows and tell you when you watch several hours of this. It's boring it's slow. The acting is terrible. The pot lines are preposterous. And apparently they take months sometimes years to resolve. But it's live tv and it feels like live tv. Which means that if you watch long enough you see. People forget. lines scripts are left on bids during scenes. Prop guys get caught on screen. You can see them through. Doorways flies said on the actors faces during close ups and this is part of what john and his friends love when they watch at the time. We did that story. John was watching six hours a week. Like you notice like the littlest things you wouldn't notice in a regular show like we noticed tonight that people have stopped knocking on the door. Three times they're now knocking on the door. Four times no. Don't stay right here breath you'll make me go back. John thinks they had a lengthy medium deciding that you have to have four knox instead of three the spice up the plot. Exciting like the new director said you know we've got to get rid of. This old is old. The old ways things are going to change around. No more of this three knox so john goes to new york on the train alone to a convention hotel on times square. Catherine doesn't go because she got a job which tends to cut into people's dark shadows habit in a rather major way. I'll be honest. I was really petrified. Because i was alone in new york and there are probably about four hundred. People are waiting in line to go into this banquet hall to start the ceremonies. The opening dark shadow convention ceremonies. And i'm walking around. And i know that everybody here i can walk up to them and start talking about dark shadows. But i don't know if. I want to at this point and the last time that i i the last time i actually remembered that feeling was when i had i gone into a gay bar by myself and felt like this was something i had to do by myself. I was all alone and there. It was like in this room of people that we all had something in common. You had just come out and just come out. We all had something in common. I knew that all these people. We had a similar life experience. We have one thing in green one thing in common. Bet you get for example with the gay bar. You can't just walk up to somebody and say so you're a homosexual me to testing. I'm now at the convention and Right now i'm in the grand ballroom. At the mary up its opulent beyond belief. I mean it's four large chandeliers in there. Probably about i'd say a little bit over five hundred people here right now in. They're doing a retrospective on some of the dark. Shadows actors had passed on their five hundred people sitting in this grand wall palm room watching tv. We all go into the ballroom to watch tv what. That's the opening ceremony. So says five hundred. The news a little tiny huge little black and white twelve inch. It'll be all around because when you think about it is convention watching tv. And i hadn't thought about that until that exact moment i was going. I'm here to watch. Tv i'm here to watch tv. And i'm here to talk to people about watching. The other thing i was there for it was to watch. This remaining people make dark shadows videos. They make their own dark shadows videos. We like using footage from the original. They create new. Dark shadows videos episodes. They make new episode cell. He meets new episodes theirselves. Like they get costumes and build sets like others one. There was this one thing that was amazing. It was a parody of the show. But apparently like if you watched it right now you would go it. It could be funny but you know. It's all inside jokes if you watch dark shadows. It's the only way you think. This is funny but it was so elaborate like they had built like completely rebuilt the set of like barnabus drawing room completely they had and then like another set was in a graveyard and they had completely done the graveyard. This one man played three different characters and it was edited like it was completely professional. I mean they must've spent like a ton of money they had gotten one of the original cast members to come and be in the video. It was so incredibly elaborate and it was like forty five minutes long and it was good and there was like the thing. I'm sitting there going. This.
"74%" Discussed on This American Life
"Listeners. To this american life may remember one halloween producer. Nancy updike and i visited john and his friends Facts erica during their weekly ritual of watching dark shadows. And i'm until you when you watch several hours of this. It's it's boring it's slow. The acting is terrible. The pot lines preposterous and apparently they take months sometimes years to resolve. But it's live tv and it feels like live tv. Which means that if you watch long enough you see. People forget. Lines scripts are left on bids during scenes. Prop guys get caught on screen. You can see them through. Doorways flies set on the actors faces during close ups and this is part of with john and his friends love when they watch at the time. We did that story. John was watching six hours a week. Like you notice the littlest things you wouldn't notice a regular show like we noticed tonight that people have stopped knocking on the door three times. They're now knocking on the door. Four times via your made me go back. John thinks they had a lengthy meeting deciding that you have to four knox instead of three the spice up the plot like the new director. Said we've got to get rid of this old old. The old ways things are going to change around no more of this three knocks out so john goes to new york on the train alone to a convention hotel in times square. Catherine doesn't go because she got a job which tends to cut into people's dark shadows habit in a rather major way. I'll be honest. I was really petrified. Because i was alone in new york. Anybody and there're probably about four hundred people waiting in line to go into this banquet hall to start the ceremonies. The opening dark shadow convention ceremonies around. I know that everybody here. I can walk up to them and start talking about dark shadows. But i don't know if i want to this point and the last time i i the last time i actually remembered that feeling was when i had i gone into a gay bar by myself and felt like this was something i had to do by myself. I was all alone and there. I was like in this room of people that we all had something in common. You just come out just come out. We all had something in common. I knew that all these people we had a similar life experience. We have one thing in grieve one thing in common for example with the gay bar. You can't just walk up to somebody and say so you're a homosexual to me too testing. I'm now at the convention and right now. I'm in the grand ballroom. At the marriott its opulent beyond believe. There are four large fires in there probably about. I'd say a little bit over five hundred people here right now. And they're doing a retrospective on some of the dark shadows actors. Who had passed on. It's funny they're five hundred people sitting in this grand walpole room watching tv cab. We all go into the ballroom to watch tv. What that's the opening ceremony. So so says five hundred news a little tiny huge black and white twelve inch at the gather round because when you think about it. It is a convention about watching tv. And i hadn't. I hadn't thought about that until that exact moment that was sort of. I'm here to watch. Tv i'm here to watch tv. And i'm here to talk to people about watching. The other thing. I was there for was to watch this. The amazing people make dark shadows videos. They make their own dark shadows videos. We like using footage from the original. They create new. Dark shadows videos episodes. They make new episode episode ourselves. Like they get costumes and build sets. Oh my god. There's this one there. Was this one thing. That was amazing. It was a parody of the show. But apparently like if you watched it right now you would go. It could be funny but you know. It's all inside jokes if you watch like dark shadows. It's the only way you'd think this is funny. But it was so elaborate like they had built like completely rebuilt the set of like barnabus drawing room completely they had and then like another set was in a graveyard and they had completely done the graveyard. This one man played three different characters and it was edited like it was completely professional. I mean they must've spent like a ton of money they had gotten one of the original cast members to come and be in the video. It was so incredibly elaborate and it was like forty five minutes long and it was good and there was like the thing. I'm sitting there going. This is.