40 Burst results for "Two Points"
America Needs to Understand It's Role in the Middle East
"Oh my god what the heck's on going here what do you want to tell the American people about how things should go forward I think there are two points, Mark, if you'll permit me. The first thing is that America needs to understand its role. America is you know Iran calls America the great Satan yeah that's because it's great and they want to divide it so they call it the great Satan but America is great and if it departs from that role it's not only America that suffers at the end of the day it's the entire world certainly the free world certainly the people who believe in values the of Judeo -Christian ethics. America can't step back from its leadership role and when it does that as it began to do during the Obama administration you're going to have a rise of malevolent powers who are going to ultimately cause suffering for Western civilization as well. Well it's not going to stop here Israel is really the like my son was the point Israel is the point squadron for Western civilization and if we defeat Hamas then America benefits and the in Europe in Europe benefits Judeo -Christian world benefits but America has to be out in front and has to lead and it can't step back from that role. That would be my first point. The second point is we have to go back to our roots to our sources. We've kind of lost a moral compass because we've lost where we've come from. If you don't know where you come from you don't know where you're going. You've written about this extensively in the book on liberty. You always have to look back and see where do we come from? Where are our roots? roots. What do we believe in? If we confuse that we forget that. We make 1619 into 1620 or 1620 and the founding gets all confused. If you have a confused beginning then you have a very confused future. So I think it's really imperative that America understands its leadership and understands its roots and if that happens Israel will be far more appreciated than it is now. The reason why Israel is derided in so much of academia in the media is because wokeism has over taken and America's role and its history has been forgotten and confused. Very brilliantly put. How is your family coping with all this? The rest of your family is a big hole and yet your citizens of Israel this threat still looms over your family like it does the entire citizenry there. Mark, you know it's quite a move from talking about America's role to my family but I'll tell you this, you know we always have to see ourselves personally in the context of a bigger picture and a bigger picture in the context of our personal lives. You know when I got the knock on the door at 12 30 at night the two officers came to inform me that my son had fallen. I really didn't know what name they were going to say because I have
Fresh update on "two points" discussed on Unchained
"Hello and welcome to this week's crypto roundup. This week, we cover the obstacles Binance's former CEO Changpeng Zhao still has to face after the company he founded's historic settlement with the DOJ. The U.S. Treasury's recent sanctions on the crypto mixer Sinbad, massive increases in cryptocurrency fund inflows, relatively speaking, and the ongoing proceedings of the FTX bankruptcy case, among several other stories. I'm Michael Del Castillo, Unite Batchit fellow at Columbia University, and this is your weekly crypto recap. After the historic settlement last week between Binance and the U.S. Department of Justice, founder Changpeng or C.Z. Zhao has stepped down as the chairman of Binance U.S.'s board of directors. The decision follows his guilty plea for violating the U.S. Bank Secrecy Act, leading to a 50 million dollar penalty and his resignation as Binance CEO. Despite this, Zhao will maintain his economic interest in Binance U.S. Adding to Zhao's challenges, the federal judge has ruled that he cannot leave the U.S. for now, marking him as a, quote, serious flag risk. The decision comes after Binance agreed to pay 4.3 billion dollars in penalties for operating as an unlicensed money-transmitting business and violating sanctioned laws. In a perhaps not surprising twist, former Bitmex CEO Arthur Hayes has come to Zhao's defense. In an essay that extensively quoted from the Hebrew and Christian Bible, Hayes questioned the severity of the treatment Zhao has received compared to traditional financial companies involved in similar wrongdoings. Hayes, who faced similar charges and received six months of house arrest, called the treatment of Zhao and Binance, quote, absurd, and highlighted what he characterized as the arbitrary nature of punishment by state. C.Z.'s guilty plea certainly distinguishes him from the CEOs of traditional companies who escaped the Great Recession they helped cause with nary a lecture from the government. But it should also be noted that C.Z.'s personal wealth at the time this was recorded was estimated to be about twenty five billion dollars, according to the Bloomberg Billionaires Index. In other words, assuming Bloomberg's index is accurate, C.Z.'s company paid about zero point zero zero four of his personal wealth. Perhaps he didn't get away with too strict of a punishment after all. On Wednesday, the new bosses at FTX, the beleaguered cryptocurrency exchange, received approval from a U.S. bankruptcy court to sell assets worth approximately seven hundred forty four million dollars. These assets include interests and various crypto funds, notably Grayscale and Bitwise Trusts. The largest portion of these assets is nearly twenty two point three million units of Grayscale's flagship Bitcoin fund, GBTC, valued at around five hundred ninety seven million dollars, followed by Grayscale's Ethereum trust, with six point three million units worth about eighty seven million dollars. The development is part of FTX's ongoing bankruptcy proceedings, which began last November after the exchange filed for Chapter 11 bankruptcy, giving it the potential to reorganize and maybe even reopen. The court appointed CEO John Ray III had previously testified to Congress about the, quote, utter failure of corporate controls, end quote, and the misuse of funds by FTX and its affiliated trading firm Alameda Research. The exchange's former CEO, Sam Bangman Fried, was convicted of fraud and other charges earlier this month. The sale of these assets is a potentially critical step in addressing the bankruptcy claims, which have been trading at sixty to sixty five cents on the dollar recently. This week was marked by significant optimism and activity in crypto markets, with a notable surge in investment inflows and developments among exchange traded funds. Coin shares report that weekly inflows into cryptocurrency investment products reached a 2023 high of three hundred forty six million dollars, with Bitcoin accounting for about 90 percent of that. This week also marked the longest streak of inflows since the late 2021 bull market, indicating a robust resurgence in investor interest. Of course, that's still very relative, with the broader ETF market experiencing a thirty one billion dollar increase in inflows over a similar period. Simultaneously, crypto asset manager Pando Asset, that's Pando, not Panda, filed an application with the U.S. Securities and Exchange Commission for a spot Bitcoin ETF. The Chennai, India based firm joins a roster of 13 companies, including financial heavyweights, BlackRock and Fidelity Investments, as well as another one we'll talk about shortly, seeking regulatory approval for similar products. Though SEC Chair Gary Gensler has become the man to hate at many corners of crypto, a growing list of his court losses seemingly has many optimistic. Bitcoin's price soared about forty eight percent since early September and one hundred twenty six percent since the beginning of the year in January. Back in ETF land, CoinDesk reports that Grayscale is updating the Grayscale Bitcoin Trust or GBTC agreement to prepare for a potential conversion to a spot Bitcoin ETF. At the same time, the SEC is seeking public feedback on whether to approve yet another ETF application from another mainstream firm, investment management giant Franklin Templeton, indicating a possibly accelerated decision making process. In related news, Bitcoin strategy ETF or BITO hit a record one point four seven billion dollars in assets, further signaling rising institutional interest in Bitcoin. The New York based cryptocurrency lender Celsius, which filed for bankruptcy last summer, began allowing withdrawals for certain account holders on November twenty nine. Customers of the custody program with Class A general custody claims and or Class B withdrawal custody claims can withdraw up to seventy two point five percent of their crypto minus transaction fees, according to a report by the block which cited court documents for its reporting. This opportunity is available until February twenty eight, provided the investors did not previously participate in assets custody settlement.
Uncovering the Deceptive Strategy Against RFK
"Now that I think it's critical. What am I getting? I'm getting at polls and RFK junior folks I'm telling You you are getting so played by this story They want you so badly when I say I you mean the DeSantis Trump crowd I Haley's kind of doing okay did the Republicans is what I'm at getting they want you to help them get RFK out of the race and the way they're doing it is Really deceitful, and if you know politics like I do having run and been on kind of the other Side of this operation you see right through it. It's so transparent. It's my dipsy -do -flip -a -roo theory Whatever the Democrats are telling you to do do the opposite So I've noticed all these media outlets Left -wing media outlets all reporting on oh my gosh RFK man this guy's gonna really hurt Donald Trump and Mike what's the first thing you should be thinking the dipsy -do -flip -a -roo read Headline the in reverse RFK will help Donald Trump. They're exactly right not hurt. There's nothing Left -wing media lies to you about everything always measure how you should Spawn based on the opposite of what they're doing if they're worried about a story you should be excited about a story If they're telling you get RFK out of the race he's gonna hurt you it means he's gonna help you a lot of people fell for this And though they're like ice because I still see it on social media on Twitter particularly Where people are like Man this guy's gonna steal a bunch of voters from Trump folks this guy's gonna take about three to Four voters away from Biden for every one he takes away from Trump Here it is always bring the receipts baby always new poll general election Harvard Harris Harvard Harris, so we're not talking about some like poll operation here including undecided voters Trump Biden straight -up head -to -head match no third -party candidates included Trump wins by 748 41 folks before I get to the RFK thing. This is news enough. Why go to Tom Bevin social media feed Twitter he has a tweet up right now Pointing out something really interesting about this number here Trump 48 Biden 41 in 2016 when Trump won as you remember I can make a strong case about to But that's for another day in 2016 when he was sitting in the White House folks Donald Trump out at 46 .2 he's at 48 now He peaked out at 46 .2. He's nearly two points better right
Fresh update on "two points" discussed on Bloomberg Businessweek
"One point down a two point five sent seventy four oh seven for a barrel of west texas intermediate crude headline jaybal uber and builders first source all set to join the s and p five hundred i'm charlie pallet is a bloomberg business flat charlie thank you so much so uh... bally was interested to talk to david weston who talked about talking with larry summers about a year ago and larry was saying oh my god ai ai generated ai and then it was january of this year but microsoft made that ten billion best and also we were all in it exactly a year ago yesterday i believe was the birth of chat gpt it just celebrated rated its first birthday i don't know if you use it i'd like to a little bit play around with it more have it explain complex topics yeah yeah say write some code tells me that all i
A highlight from The Economic Impact of Business Owner Outmigration
"It seems like our local GOP leadership, well, I'm not gonna say the conservatives, but the constitutionalists, they don't really care about the community. You never see community initiatives or outreach. And the Democrats and the socialists have that locked down. I mean, as much as there's crime and there's this and that, they're still out in the community kind of giving back. I mean, Mark Poloncarz was just at the Grider Street Community Center a week or so ago, giving out free hot dogs. And unfortunately, that's what people, the voters, the Democrat voters who do outnumber us, that's what they see. It's like instant gratification and they forget everything that's been done. And how do you defeat that? ["Oh, Whoa, Whoa, Whoa, Whoa, Whoa, Whoa, Whoa, Whoa, Whoa"] Hey, welcome back. Mike Lomas, Glenn Wiggle actually taking off, Ron Rheinstein in with me. We've got a special guest on the live line here. We'll talk a little bit about what happened last night. Erie County stuck on stupid again. The pain, the pain. Nationwide though, just not Erie County. Yeah, we're going to talk to an optimist in a little bit who's a workhorse here in Erie County, Nancy Ortecelli. But I got to be honest, I texted her this morning. I'm like, I feel like drinking. And it's like seven o 'clock in the morning. Can we take a personal day? Can we take a personal day? You're just so beat up. I mean, it's just, you know, it's like, you have to ask yourself, how could these people be this dumb? Well, how could you be this dumb? And it's not even rhetorical. Everything you've touched has turned to shit and you continue to vote for the same exact shit. It's just unreal. Because here's, this is just from a sleepless knife yesterday into today. People that left the cities, they're just like, I got to get away from the crime. I got to get away from the poverty, all the above. And their shitty voting has metastasized like a cancer in the suburbs. And it just keeps going and going and going. Well, they don't show up. That's what's so frustrating. Well, there's also that. I mean, you look at the numbers and it's like, how in the world do you not show up? I'm actually going through my phone yesterday. I'm saying, don't forget to vote. Don't forget to vote. Who's on the ballot? That's what I've got to think about. Like, how could you be that freaking stupid? I know. But the other, I mean, even if you look at an area where I grew up in Chictawaga and yes, the demographic has changed substantially since I left in 1998, but for the fact of the matter of the third world that has been imported, the taxes, the last county executive or not, the supervisor, she hammered two increases on the property assessments. It's back to back. Highest taxes in the country. And on top of that, the last one, because she's, again, the politicians, how they're just full of shit. Oh, that's our bad. You know, we're not even, well, maybe up for a second. Oh, we're not going to do another reassessment for two years and then literally the next year, here comes the next increase and all our bad, but we won't do it again. However, you got to pay. Yeah, sorry about that. And that's, and you look at the votes that were cast for supervisor. And I mean, again, how close it was and it'll go to recount. That's it? That's the amount of people that voted? Yeah, well, the GFP didn't do anything with absentee ballots there. So it'll go the other way. Before I forget, download our app, search Financial Guys Media in your app store and be sure to click notifications so you don't miss our weekly media drops. So don't forget about our app. Let me introduce Nancy Oreticelli. I was able to grab her. I know she's extremely busy. Nancy, what is your title today? Besides a miss of everything. I don't know, like, what is your exact title? You're everywhere, you know, constitution coalition, all this stuff. What is your, do you have a title? I mean, Antifa has called me a lot of things. So I know I work for an assemblyman, for assemblyman David DiPietro. I am on the executive board of the Erie County conservatives. I do, I'm the president of the constitutional coalition of New York state. So yeah, I do a lot of things. So that's who I am. I just, I believe in freedom and liberty and no matter what it looks like, I'm not a person who gives up and talking to a couple of people this morning, they're like, why do you sound so happy? I was like, well, I'm used to this. This is how it is here in Erie County. It's nothing new. It's not like - I know, you'd think all of us between the political environment here and then the bills and sabers, we'd be used to disappointment, right? We're like, let's roll out of that. Like, all right, I get it. Let me ask you, let's start out with the county executive race. I mean, what happened there? You know, you can't, first of all, he's literally, the cops are showing up because he's restraining a woman. We had people die in a storm because of his mismanagement. We had a record amount of businesses closed because of the way he handled COVID, right? I mean, you can't ask. And then he drops off all these illegal immigrants. They, 13 out of 50 of them get arrested and brought it up on charges. They destroy a hotel. I mean, it's like, okay, maybe you're not happy with Chrissy, but boy, you have to be some kind of a mental midget to say that's a good - And crimes on the rise. And crimes on the rise, record number. We don't want to enforce laws. Here's your appearance ticket. Yeah, number two in the entire country for Carstola. Number one is our neighbor Rochester. Number two, so what the heck happened? So people are misinformed. And it's like you just said, when you called and texted people and they said, who's on the ballot? Nobody cares anymore because it seems like our local GOP leadership are, well, I'm not gonna say the conservatives, but the constitutionalists, they don't really care about the community. You never see community initiatives or outreach. And the Democrats and the socialists have that locked down. I mean, as much as there's crime and there's this and that, they're still out in the community kind of giving back. I mean, polling cars was just at the Grider Street Community Center a week or so ago, giving out free hot dogs. And unfortunately, that's what people, the voters, the Democrat voters who do outnumber us, that's what they see. It's like instant gratification and they forget everything that's been done. And how do you defeat that? And I think the GOP needs to get out in the community more. I mean, they've had their get out the vote rallies that of consisted maybe 20 to 25 committee members. It wasn't the community. Do you know what I'm saying? And they don't - No, I get it. I was gonna say, but how - Nothing beats a good sailing hot dog. Yeah, here's your meat cylinder, go vote for four years and more tyranny. It's true, it's true. Well, that's, you're right. But the thing is, is, but then you take it a step further. You go fill up your car, holy shit, part of my life. That's even higher than it was a month ago. You go to the grocery store and our household, we do okay. But every time, between my wife, myself, and our two kids, and here's four bags, that was 300 bucks. Daughter, oldest daughter and my wife were down in Tennessee last week. My daughter was looking at the possibility of University of Tennessee. And she says to me, she said, "'Dad, do you know gas is a dollar a gallon cheaper there?' So I went through this whole thing about, you know, it's taxes. She's like, you're kidding me, just taxes. I said, yep, yep, that's the difference, difference between one state and the other. And every time somebody puts gas in their tank, it's an extra 30, 40 bucks here, as opposed to down there. So - So that's you and that's me, but that's not the urban voters. The urban voters are in poverty because of Democrat policies. But yeah, it's still vote that way. But they still vote that way because they'll come and give you free stuff a few times a year. They'll give you hot dogs. They'll give you backpacks. They'll give you this and that. A lot of them maybe don't have vehicles to fill up. Do you know what I'm saying? That's a fair point. But it's, you know what? Now that we're talking, Nancy, that also works against us too. I mean, we are top 10 in the country in poverty. Yeah, top three, I think. Per capita. Yeah, the city of Buffalo is, I think, two or three. Here's the, you know, our fair city. To your point, and I think you mentioned this, you know, the GOP will run on reducing the taxes. And Nancy, you said, these people don't pay taxes. That's true. That's not a problem for them, right? Although it is funny when you interview some of them, they actually think they do. They'll say, well, it's not fair. We're paying our fair share. Like, now you don't pay any federal taxes, and you don't pay any state taxes. If you look at it, and this isn't to be negative, but, and again, money's money. And let's just say they make $50 ,000, they're married filing joint. With your standard deduction, you're probably, you have $25 ,000 maybe in taxes total. Yeah, well, most of them. But that's what I'm just saying. And then you're probably getting a real fund. That's right. Most of them are public assistance. That's right. Talk about the women vote. I mean, you know, you look at other places, other parts of the country, and the women have really rallied together to really change things. And it just, you know, last night, I was really hoping that like town of Amherst, town of Cheektowaga, the women would step up and say, okay, we've got a guy who's clearly, you know, he's abused women. He's threatened a process server, a female process server that he's going to shoot her. And then the cops are showing up. I mean, well, I would think the moms would say, and it's amazing to me, I'm watching his speech last night, I'm thinking all these hypocrite Democrats, they're all, oh, believe the women, believe the women, unless it's a Democrat that can shove the left -wing agenda down your throat, then we don't believe them. So here's my take, two points I want to make. You know, talking about the women vote, I had a phone call the other week and somebody, it was actually Stephon, and he said, do you know a strong woman leader in Western New York who could do calls for Chrissy? And I was like, no, do you? I don't know any woman. There is no strong woman. I said, what about Lynn Dixon? They already had her. And I had thought about it. Mike, you probably remember a few years ago, I came to visit you. I wanted to start a women's group, but the coalition took off. And you know, if there's any women out there, women who would like to start a women's group, I'll help. I mean, I can't run it, but I'll help to get strong women elected. But there isn't. And then you have Moms for Liberty here in Erie County, but for some reason, the GOP will not unite with the grassroots organizations. Moms for Liberty have been phenomenal across the nation because the establishment has partnered with them. I don't know why they won't do it here. I don't get it. And if you would just unite, and it's the same issue with the conservatives and the Republicans, it's no secret we are outnumbered by Democrats. And so what happens with the conservatives and the Republicans who should be working together? The Republicans try to take over the legislature seat that was supposed to be conservative. You know, it was supposed to go to Lindsay Larrigo and they fought it with Jim Malcheski. I like Jim Malcheski and Lindsay Larrigo. They're both great people, but the GOP spent so much money on that primary that they had nothing to give to Chrissy to get her name out during this election because nobody knew who Chrissy was. And then they tried to do a party takeover in Evans where they switched a bunch of Democrats to conservatives, the GOP there did, to try to take over that party. And Ralph Larrigo did a lawsuit and the lawsuit is not finished yet, but the GOP candidate lost miserably. So they're focusing on things that should be uniting us, but they're dividing us instead of uniting. Look at West Connecticut and Lancaster. Those towns won amazingly for their town boards because the conservative committees and the Republican committees there are united and they work together. And I don't understand what the whole issue was with the Republicans trying to take out the conservatives this summer. It was baffling to me. So instead of focusing on Mark polling cars, you're gonna try to take a legacy away from a conservative candidate that it was already in the bag for them. You're gonna focus on a fight that was already a constitutionally minded candidate that was in there. It was a given, what a waste of resources and what a waste of time. That's a shame. Yeah, that's a shame. Absolutely. Well, the financial guys are here to help. I'd like to get you on the radio as well. We'll find that, hopefully we can find a strong female. That's what we need. You need the female vote. I mean, last night, the female vote shows up because Mark had been called, accused of holding a woman, I don't know, hostage or whatever. I mean, holding against her will, but they didn't show up. And they're like, God, that's so frustrating. The last thing before I let you go, the frustrating part to me and folks like Ron is we're in the business community, right? And so we're constantly getting involved. We're constantly trying to do our part. And sometimes I feel guilty because I look at somebody like you and I'm like, oh, I feel like a slug. But yeah, like, oh man, I really do. But the business community, I am just at awe this morning that they didn't show up at all. I mean, at all. How many restaurants did Mark destroy during COVID? How many gyms did he destroy? Now, some of these folks were strong enough to make it through, but I'm gonna be honest with you. If I owned a restaurant, I am never forgetting that. Now, I might be a little bit different of an animal because his picture and Gal Bernstein's picture would be on the front door and there would be a message that says, hey, if you're these people and you're walking in, do not bother, right? I mean, that's where I would be. But I get it. Some of these folks say, well, you know, I don't wanna be that aggressive. Okay, could you send Christie a hundred bucks? Could you put a sign out front of the restaurant to say, hey, just saying, I mean, like, not one. Well, that was the fault of the GOP, that they don't know how to fundraise. They really don't. And like I said before, their fundraisers consisted of just their own committee members. The public doesn't want anything to do with the GOP because the GOP has alienated them. Now, Michael Crocker is a good guy. I've met him. I've worked with him. He's really good, but he's got a lot to fix from the previous leadership. And yeah, I wouldn't want that job. I know. I know. You know what? It's funny you said that because I was talking to Glenn about it and Glenn's like, oh, they needed this. The hardest part about that is so many people have left. When you look at, and I'll say for America, I think it's a great thing, right? I mean, Florida is gaining delegates. New York is losing delegates. Florida had a $21 billion surplus. New York is going to go bankrupt at some point. I don't know when, but the math doesn't work, right? You cannot have the, and the 25 % of people that have left, they're all the top taxpayers, right? They're the ones paying the bills. Mike, this all sounds racist. Stop. That's right. Math is racist. But I mean, that's, even if the people that leave and, you know, from clients and friends and family that are in these Southern states, they still care, but they got up and left. Oh yeah. I mean, it's just - Well, they're not voting, right? They're not participating. Even if voting, but like, even if they've sent a check, like you said to Chrissy, but that's just the whole thing. They're gone. They're gone. I know, but you have, for the people, and I guess maybe this is where my deficiency comes with this, is that I'm like occupying common sense, I guess, way too much. But how the hell do people, again, you look at this, this sobering statistics or drive around the area, what the hell is coming here? Nothing. What is leaving here? A lot. A lot. What is beneficial that is derived from low -T polling cars? Let's just go over the last five years, the scandemic. How many people were affected by that? And how many businesses were lost? How many people, again, how many people have been Vax injured? Because, well, I can't go to the Bills game or the Sabres game, but seriously, I'm gonna roll up my sleeve. You were able to see the playoffs wave, but now you got my old car died. Or, again, my employer's forcing me, because this shit bag in City Hall is following crime wave Kathy, or Andrew, I killed your grandmother, Cuomo. Then you take it further. How many people died in nursing homes alone? One of my best friend's sister died in a hospital alone. Why is that, you may ask? Oh, because she tested positive for the Wuhan sniffles. Yes, I know. And these stories are out there. Yeah, I know. And yet there is zero messaging. And this is from Chrissy. This is from the GOP. This is from any Republican candidate that you can absolutely, and again, voting aside, fundraising aside, but if you got that message out there, debt would resonate. You need money to do that. You do, which is fair. And you need lots of it. I said from day one, I said for Chrissy to win, she probably needs a million bucks. And I think that's a fair number. And I think she got a total of about 150 ,000 from the business community. She was well, well, well underfunded. And I don't know, I was down there last night, I don't know if you got a chance to see her speech last night, but you could tell she cared. There was a few conservatives are sending messages, oh, she can't cry. I'm like, bullshit, she can't cry. She can do whatever she wants to do. You have the stones to step up. Then I was able to see her in the hallway before I said, Chrissy, that she's like, oh man, I feel like a failure. I said, Chrissy, I said, there's a million people in this freaking town, a million people. Do you know who was the only one that stepped up against this piece of shit, Mark Poloncarz? You. So don't let anybody ever tell you that you shouldn't do what you wanna do. There are so many armchair quarterbacks that oh, I should have done this, should have done that. I'm like, Chrissy, you're the only one. Guess what? Mike Lomas could have ran. I could have ran. I could have signed up. I didn't. Now - I feel like I told you to.
Fresh "Two Points" from WTOP 24 Hour News
"50 in buoy it's 46 in fairfax city 49 degrees in dc downtown money news at ten and forty past the hour brought to you by pen fed rates rate for everyone good afternoon jeff clay ball hello john doeman amtrak trains are full access fiscal twenty three ridership was up almost twenty five percent from fiscal twenty twenty two amtrak carried twenty eight point six million passengers in fiscal twenty three which ended in september some of that boost came from re -bringing back online the final routes that had been suspended during the pandemic northeast corridor ridership was eight percent higher than before the pandemic amtrak also hired forty eight hundred new employees two billionaire dc brothers are now sports tycoons dana hair karp co -founder steven rails has added his to minority stake in the indiana pacers to twenty percent brother mitchell rails became a for the owner of the washington commanders earlier this year the dow is up two hundred thirty two points that's more than a half percent the s &p five hundred is up eighteen almost a half percent as the dick is up thirty five points it's about a quarter of a percent jeff clabel wtop news thank you jeff it's not one forty one and it was a reminder that went out in wearing ski masks but some people are angry over who got it and who apparently prejudice donald don who lives in alexandria told nbc for that he received a letter in the mail reminding local residents that they could be arrested if they were over sixteen years old and were scheme asking public but bond said he didn't know it was only people who live in public housing who got the letter mary jane who lives in the neighborhood said she thinks it's discriminatory alexandria police chief don hayes said mistake it was a that only residents of public housing got the letter and they have no intention of arresting people who wear the masks those particular officers worked in those particular areas and that's why we're not that white but it does send the wrong message t o p news dz traffic deaths reaches somber milestone a high mark not seen in than more fifteen years the number of traffic deaths in the city is the most since two thousand seven with one month left in this year so far forty five people have died in traffic crashes in dc the numbers of these have fluctuated since twenty fifteen when there were twenty six it's also the year dc launched its vision zero plan with the goal of shrinking traffic fatalities to zero by 2024 that year almost here more fatal crashes even though d dot lowered speed limits in places including a long highly traveled quarters like connecticut avenue northwest in new york avenue northeast according to the city's vision zero update last year fewer people on the roads and more speeding drivers meant higher impact crashes likely related to the increased calories during the pandemic and after was anderson w t o p news up next here on w t o p suggestion about improving dcs
A highlight from An NBA Power Poll, Plus Malcolm Gladwell Plays Sports Czar
"Coming up, an NBA Power Poll, Malcolm Gladwell. This podcast is an A plus. Next. This episode of the Bill Simmons Podcast is presented by Airbnb. Maybe you're traveling to see friends and family for the holidays. When you're away, your home could be an Airbnb. Whether you could use a little extra money to cover some bills or for something a little more fun, your home or spare room might be worth more than you think. Find out how much at Airbnb .com slash host. We are supported by McDonald's. This month, McDonald's is upping its game by introducing two beloved sauces to its lineup. Mambo sauce and sweet and spicy jam. Hmm, why do I love these? Well, they both pack a spicy punch. They let you switch up the flavors in your usual order. I like having more choices. You know what, if you're gonna give me eight choices, why not give me 10? The sweet and spicy jam sounds delicious. These two sauces are only available for a limited time and participate in McDonald's. So make sure to try them while you can. Tap the banner to learn more. We're also brought to you by the Ringer Podcast Network. If you missed it, we started, wait, that movie made how much money? Month last night on the rewatchables. We did Robin Hood, Prince of Thieves, me, Chris Ryan, Van Lathan, it was a wonderful experience for all of us. Van looked at Chris at one point and he said, everything I do, I do it all for you. Oh no, that was Bryan Adams, but we had a great time. Coming up on this podcast, I'm gonna do an NBA Power Poll at the top because there's no games as I'm taping this on Tuesday. So let's, where are we after two weeks? I tried to fly through this. I limited myself to 22 minutes. I think I went two minutes over, but I flew through it, tried to get off as many comments as I possibly could. And then our old friend Malcolm Gladwell is gonna come on and do some sports hour stuff. There's some things that he's noticed about direction sports are going in that he doesn't like, and we're gonna try to fix it. So that's the podcast, first, our friends from Pearl Jam. Here we go. All right, I'm gonna throw an NBA Power Poll at you. I'm not sure I'm gonna do this every Tuesday, but I definitely wanna do this some Tuesdays. I'm gonna go through all 30 teams as fast as possible. And I'm gonna throw things out that I feel like are important when necessary. Pot shots, important comments, things I've noticed, some fake trades, you've known me for a while. It's gonna be all the typical stuff. Going backwards from 30 to one, I'll give you the groups as we go. The first group is called the Dregs. That's Washington number 30. They are 30th in defense. And the only reason they're 30th in defense is because we only have 30 teams. I actually think there's some way they could have been 36th in defense. They're the only team in the entire league that I do not wanna watch on league pass for any reason at all. They're one and five, 15 .6 point differential against them. Shoot this team into the sun. I cannot believe House thought this team was gonna go over 24 wins. They might not go over 14 wins. They're awful. I never want them on my TV. Next group, probably the lottery. I say probably, but I'm gonna zip through these teams and then go back to somebody. 29 Utah, 28 Portland, 27 Detroit, 26 San Antonio, 25 Charlotte, who is way more fun than I expected they would be to watch, and 24 Chicago. It just feels like the lottery's in the future for all these teams. I wanna talk about San Antonio really quick. Three and four, kind of a sneaky, tough schedule. They played Phoenix twice, the Clippers, Dallas, that goofy Indiana team, Houston, and Toronto. They're minus 8 .6 point differential because they've gotten blown out a couple of times, and they're 29th on defense, which I was surprised by per 100 possessions. The thing that I wanted to point out here, because this one Benyama thing is super important. This is the best teenager that's come into the league, at least since LeBron. We can debate. LeBron, I think in year two, for two months at least, was a teenager when he was putting up 27, seven, and seven. When he started his 27, seven, seven cycle. Wembe might be the best teenager I've ever seen. They're starting Jeremy Sohan at point guard, and Pop's been transparent about this. No, no, we know we're gonna take some lumps. We're trying to figure this out. I went to the game when they played the Clippers, I talked about it in a previous pod, and it was just an absolute debacle, watching poor Sohan try to run the offense, bring the ball up. Now we're seeing teams starting to pressure them because he's not a point guard. He's a small forward. There's crazy stats now. Trey Jones, just by being on this team and not being Jeremy Sohan, is now one of the best advanced metrics point guards of all time. Right now, his per 100 on -off is plus 28 .3 because Sohan is minus 22 .7. That's how disparate the two things are. Which brings me to my point, this is too important. You have the best teenager maybe ever. You have one of the best league pass players already in the entire league in Wimby. I have no idea how long he's gonna stay healthy, knock on wood, hear me knock really loud. I just got my dog going. No, that was me, dumb ass. They need one more point guard. TJ McConnell is on Indiana, and they have Halliburton, who's averaging a 24 -12. He's awesome. They have Nembhard, who's great as a backup. McConnell's like, he's 13 minutes a game. He's clearly a trade piece for them. Just go get him. I'm not saying San Antonio has to make the playoffs, but they need to be entertaining, and Wimby needs to play with point guards. He clearly needs just to play off people, high screens, all that stuff. They need one more point guard. TJ McConnell is my choice. They have all their own firsts. They're not gonna trade those obviously, but they have some goofy picks. They have Charlotte's top 14 protected first. They have a pretty good Chicago first that I wouldn't give up. They have a first swap with Boston. There's ways to do this. I would just put that Charlotte pick next year on the table and just grab them because you guys hit the lottery. Literally, with Wimby -Dyama, literally hit the lottery. You hit the lottery and you hit the lottery. Get to do two point guards. We're not asking for much here. I wanna watch this guy. I wanna enjoy him play basketball. All right, next section is panic time. Number 23, Memphis. They're one and six. They finally got out to Schneider. And number 22, Sacramento, who lost twice to Houston in three days by 18 and 25. No Darren Fox for either game. Panic time in this respect. I know we're six games in the season, seven games in the season, but the West is one of those things where you're gonna look up and the car is left. The car has left the driveway and your family is gone. You're gonna be basically Kevin and home alone if you don't get your shit together. And I don't even wanna be two games under 500 in the West. That's how deep and good the West is. So when you're one and six, like all of a sudden two and 12, two and 13, Sacramento could all of a sudden be three and nine. I would just be nervous constantly. This is not like last year when the Lakers started out two and 10 and ended up making the playoffs. Nobody is doing that this year. The cutoff line is gonna be 46 wins. Memphis looks, they just can't score. And I think it's gonna be really, we talked about this verno last week. It's gonna be really hard for them to crawl back and be at least like 11 and 14, something like that by the time Ja comes back. The Sacramento thing, we predicted this when we did the over -under preview, like the conference is way better and they stayed basically the same. And now Fox is hurt. So it can take Fox going out for 10 games and all of a sudden you're not even in the playing game. I would just be nervous, so it's both of those teams. Again, it's early. Next group, friskier than we hoped. We have number 21, Brooklyn. Ben Simmons averaging almost 11 rebounds and seven assists a game. And yet you can't play him at crunch time, bizarre. Number 20, Orlando. Number 19, Houston. Number 18, Indiana. And number 17, Toronto. Just quickly on Houston, a delightful league pass team. I had no idea. It's like being at a buffet dinner and somebody brings like some, have you ever had a fried oyster? It's like, great, I'll try that. And then it's delicious. They play hard. I like watching them. And I did not expect a Shungun to be a potential all -star, but that's where we are. They're three and three. Again, they beat Sacramento twice, we'll see. But Orlando at number 20. Every time I do this, I'm gonna have a BS all -star of the week. I used to do this when I wrote my column back in the day. I used to call them the Bill Simmons all -stars, just people that I just liked for whatever reason. I love Jalen Suggs. I don't really know fully what he is. He tries harder than everybody on every other team. He really gives a shit. He feels additive in all these different ways. And yet at the same time, he'll absolutely like airball a three in one of the biggest moments of the game. But that guy cares. I watched a game where he got this hustle rebound. Can't remember who they, they lost at the buzzer. Get this hustle rebound and dribble back out and took a three and missed it and put his jersey over his head for like the next minute and a half. I actually think he might've been crying. He was so upset they lost. He is the most competitive random guy in the league. I love Jalen Suggs. Oh, as Saruti said, it's the Laker game. I love Jalen Suggs. I don't know what he is. He might just end up being like a seventh man on a championship team at some point. He's gonna have a moment on a good team. I don't know if Orlando's gonna be the team, but it's gonna happen for that dude. I also really like Anthony Black more than I thought, but we'll see. It's early for this team. Palo hasn't gotten going. Somehow they're four and three. We'll see when the schedule gets harder. Toronto at number 17, just the Lakers miss Schroeder. And I like what Schroeder's doing in Toronto. They're three and four, but they easily could be five and two. I've been watching them because I have their over under, I bet on. And I like where Toronto's at. I think they're better than they were last year. I think they're at least a playing team. Number 18, Indiana though. So their second in offensive rating and 25th in defense. In the 25th, I was actually surprised it wasn't worse. They can't guard anybody. They're shooting 43s a game. Their top six guys are all over 40 % three point shooting. They're kind of like the 80s Nuggets, but with threes. And they just play with a certain pace. And some days it's going to be bad. Like the Celtics put 155 points on them and it probably could have been 160 if they'd made some shots. Hal Burton's special. He's a 24 -12 this year. But the crazy thing about their offense is that Matherin's been terrible. And Matherin was a guy that they were like, this is going to be our guy. He's making a leap. We're going to trade Buddy Heald. We got to give the card keys to Matherin in that spot. And he's been bad. And their offense has still been pretty good. This is a team that anytime you see them, I don't know if you bet basketball, but if they're like plus 11, plus 12, it's like they could beat anybody any night. I'm just telling you. I'm not saying they're going to win a round in the playoffs, but just night to night, that's a team that they could just go 22 for 45 from three, make some shots. And Hal Burton, they actually should be five and two. Hal Burton blew the last possession against Charlotte the other night. But I've enjoyed watching them. I've watched an insane amount of basketball, by the way. All right, next group, the wildcards. I don't have a lot to say about these teams, but we'll go in order. Number 16, New Orleans, just seem jinxed. I'll come back to them in a second. Number 15, Cleveland. I want to see them with Garland and just, I want to watch them for a couple of weeks. I like the Struce edition, but we'll see. The Knicks, they're three and four. Nice win against the Clippers. The Randall thing continues to be nuts. Now he's taking out guys in the other team. Clippers 13, just traded for Harden. We talked about the Knicks and Clippers last week. Look, the Clippers, they played one game and they got killed by the Knicks. They're worse. I told you that last week. Still feel that way. Guess what they can't do now? Any transition stuff. The Knicks, 26 to six in fast break points last night. Rebounding. They got out, rebounded by 17 by the Knicks. Harden just brings so many things that you don't want in a starting five, but then he brings the great passing and the scoring and he can have the ball all the time. They don't need anyone to have the ball all the time because they have all these other guys who need the ball. I just don't like the trade. I continue to not like it and I don't understand it. I actually liked the team they had before they made the trade. So congrats again, Clippers. Number 12, Miami. 28th offensively. Kind of feels worse when you watch them. They haven't had their full team for a couple weeks. I'm not gonna judge them at all until December. I'm not gonna judge Dallas either. Dallas I have at number 11. They're six and one, fourth in offense. They've had a really easy schedule. So that's why, let's see what happens. Their one loss is to Denver. Let's see what happens when they play some tough teams all in a row and have one of those four games in six nights or three on the road. One of those situations. But they are in better shape than they were last year. And you look at the Grant Williams piece, which I'm not spiteful when I watch my old players. I'm rooting for Grant Williams. It's like seeing somebody you dated that you still have a good relationship with. It was nice to see him do well for them. Derek Lively seems like they have something. We talked about him last week, but he's at least like a rim runner in that kind of Nick Claxton world, but maybe a little more violent alley -oop or a little young Clint Cappelli. The Kyrie thing is the piece that I'm really interested in this. He finally had a good game last night, but for this season, 24 % shooting, 3 .8 free throws a game, which are always the two numbers to look at with Kyrie. What's he shooting threes? Is he getting in the line? And so far it's been neither, but he seems happy. When you watch them, they've been a surprisingly pleasant watch, and he seems like in a good spot. So I don't want to jinx it because as annoying as he's been over the years, and you know my stance on Kyrie, I just don't trust him. And I just feel like a seven -year track record of imploding kind of has to start to mean something after a while, but it is fun to watch him play basketball. And it does feel like he's got a specific spot on this team. They don't have to rely on him too much. It's very similar to where he was in 15 and 16 and 17 with the Cavs where he could kind of float in and out like a cat with LeBron. It's like, I'm feeling it. Oh, all right, let's give Kyrie the ball. The shooting going down though, it's a small sample size, but they also haven't been playing tough teams yet. And I'm just monitoring that because with guards, it can kind of sometimes go sideways pretty fast, and you don't realize it happened until after it happened. Just quickly going backwards to number 16, New Orleans, because they lost Ingram, they lost McCollum already. And they have this Hawkins who they drafted that everybody liked coming out of the draft, but the fact that he can play right away has actually kind of saved them a little bit. I just, I still feel like we need to do some sort of ceremony or something with them. Like we need the people from the Conjuring to just do something with New Orleans basketball. It just shouldn't be this bad every year. Your team shouldn't have two, three major injuries every year. You should have good luck at some point. And this goes back to the seventies. Remember, when they moved, when they became the New Orleans Jazz, their first major, major giant trade was for Gail Goodrich with the Lakers. They had to give up two first rounders, and he immediately blew out his Achilles. He played, I'm gonna say, less than a season. And one of the picks turned out to be Magic Johnson. So that's where we started with New Orleans, and it's been awful ever since. Nothing good has happened in this team other than they've won a couple of lotteries, but even the lotteries they won, the Davis, Anthony when they were in Charlotte before they got to New Orleans, they bring him to New Orleans and he wants to leave. And then they win the Zion thing, which seemed like the luckiest thing that ever happened to them. And meanwhile, we're still waiting for him to play two straight months. So Conjuring people, something. We need something to happen with that team. All right, the top 10. We're at a good pace right now. Where are we at? Yeah, feeling good. This is working. Young and hungry is the next thing. We got Oklahoma City at number 10 and Atlanta at number nine. If you remember, Atlanta was one of the, these are the two teams I was going nuts for before the season for their over -unders. I love the Atlanta over -under. I love the New Orleans over. And I like what I've seen from both. OK sees four and three, Atlanta's four and three. Atlanta's sixth in offense. And that's notable because Trae Young has sucked again shooting west. He's 28 % from three. Last year's 33 % from three. This might not be happening the next Steph Curry thing. Like what age does he have to hit where we have to go? All right, he's not the next Steph Curry. Because I think I hit that age last year at age, when I was age 53. I think I hit that for Trae. They killed Minnesota, which is notable. We'll talk about Minnesota in a second. But they really, I watched that game and they really, really, really handled them. I like this Atlanta team. And I think there's a path for them to be a three or a four seed if Trae can get going. And then OKC, trade for a big already. You're a guy short, like stop. You guys have a chance to be like a 50 win team. What are you doing? I want to see what's going on with Josh Getty in about two weeks. Whether it looks different than it has for the first couple of weeks here. I don't like, he's not going in the free throw line at all. 1 .3 a game. 26 % three point shooting, which we knew. He can't shoot threes. But there's also like the Chet piece of it. Seems like it's throwing them off. And I've watched games where they've taken them out at crunch time.
Fresh update on "two points" discussed on Sound ON
"Hundred index is pushing higher building on november's gain of eight point nine percent what's the market backdrop though like heading into twenty twenty four liz young is head of investment strategy and so far the question into twenty twenty four will be can we stop the cooling before the economy tips into contraction and makes us all nervous this if we start to get data that gets too cold to quickly that's when that correlation between stocks bonds breaks down where i think you see bonds rally so you see yields continue to fall because people got afraid but stocks also come down uh... in tandem and speaking of too cool too quickly earnings news marvel technology shares down five point four percent after earnings dell technologies after earnings down four point eight percent again recapping here we've got stocks pushing higher s s and p up twenty eight again there of six tenths of one percent big story though the russell two thousand surging now two point seven percent i'm charlie pallet that is a bloomberg business flash now charlie thank you and welcome to the friday edition of bloomberg sound on i'm joe matthew at world headquarters is in new york with breaking news we're gonna get to the situation in israel in a special conversation with former ambassador daniel fried coming up but first history is made in the house of representatives as the gentleman from new york is expelled let's listen in the affirmative the resolution is adopted and a motion to reconsider is laid upon the table the
A highlight from Irresistable Grace
"John chapter 6, 35 to 51 will be our text this evening. John chapter 6, 35, 51. Hear now the word of our God. Jesus said to them, I am the bread of life. Whoever comes to me shall not hunger and whoever believes in me shall never thirst. But I said to you that you have seen me and yet do not believe. All that the Father gives me will come to me and whoever comes to me I will never cast out. For I have come down from heaven not to do my own will but the will of Him who sent me. And this is the will of Him who sent me that I should lose nothing of all that He has given me but raise it up on the last day. For this is the will of my Father that everyone who looks on the Son and believes in Him should have eternal life and I will raise Him up on the last day. So the Jews grumbled about Him because He said, I am the bread that came down from heaven. They said, Is not this Jesus the son of Joseph, whose father and mother we know? How does He now say, I have come down from heaven? Jesus answered them, Do not grumble among yourselves. No one can come to me unless the Father who sent me draws him and I will raise him up on the last day. It is written in the prophets and they will all be taught by God. Everyone who has heard and learned from the Father comes to me. Not that anyone has seen the Father except He who is from God, He has seen the Father. Truly, truly, I say to you, whoever believes has eternal life. I am the bread of life. Your fathers ate the manna in the wilderness and they died. This is the bread that comes down from heaven so that one may eat of it and not die. I am the living bread that came down from heaven. If anyone eats of this bread, he will live forever. And the bread that I will give for the life of the world is my flesh. The sins of the reading of the word of God, let's ask His blessing now upon that word in a moment of prayer. Our great God, we ask very simply this evening that your word would be a lamp unto our feet, that it would be a light unto our path. For we know on the basis of your word that it is truly only in your light that we see light. Grant it to us now in Jesus name, Amen. You must be born again. Those were the words of Jesus to Nicodemus in John chapter three. And you're no doubt familiar with those words as they in many ways took center stage in the mass evangelism movements of the 20th century. They were repeated frequently on the lips of men like Billy Graham. And indeed these words do make for an effective evangelistic call to faith. As our Lord makes clear in John chapter three, the new birth is the only way to enter the kingdom of God. It's the only way to have real communion with Jesus Christ. It's the only hope for eternity. But if all of these things are so, I hope you believe that they are, then we aren't necessarily then to ask how we are born again. If the new birth is the difference between heaven and hell, then I'm sure that you will agree with me that this is a matter of inestimable significance. And even if evangelical Christians are of one mind about the necessity of the new birth, it is simply a matter of fact that there is a long -standing disagreement as to how we are born again. For example, you will surely find many evangelical Christians out there today who would say that the new birth comes about something like this. God in his grace calls all men, all women everywhere to believe on Christ that they might be born again. However, in order to do so, man must use his unaided free will to cooperate with the grace of God by choosing to express his faith. That those who do so will be born again and those who by a contrary act of their free will resist the call of God will be condemned for their unbelief. And you see, in this accounting of things, the initiative lies with who? It lies with man. The choice is his. He can go one way or the other. He just needs to make up his mind, believe or resist, believe that you might be born again. Many people speak in this way, but the question tonight is, is it biblical? And it's not. You don't even have to leave John chapter 3 in order to determine that it is not. Nicodemus there expresses bewilderment to Jesus about the call to be born again. What does Jesus say? He says, do not marvel that I said to you, you must be born again. The wind blows where it wishes, you hear it sound, but you do not know where it comes from or where it goes. So it is with everyone who is born again. Do you see, brothers and sisters, according to Jesus, the new birth requires a sovereign act of God's holy spirit. The lies initiative with the Lord. Only when he has done his work are we even able to believe, and he tells us that he will do that redeeming work when and where he wants to do it. And this is the doctrine which is commonly referred to as the doctrine of irresistible grace, or to use the language of the Westminster Confession, effectual calling. This doctrine is present, as we've already alluded to in John chapter 3, and it's present in John chapter 6, 35 to 51, which I've taken as my text tonight. So the way that I want to spend the time allotted to me this evening is to take a brief look at John 6, 35 to 51, and then to simply draw some doctrinal lessons from that passage. First of all then, let us quickly tonight survey our text. To begin with, we take note of the fact that the verses which we have read this evening take place in the aftermath of Jesus' feeding of the 5 ,000. While the other three gospels do tell that story, they largely focus on the disciples' reaction to that miracle, while John is especially interested in the response of the crowds. And what was the response of the crowds? Well, initially they were amazed. We would find that if we had time tonight to read all of John chapter 6. They were so impressed with Jesus' work at the feeding of 5 ,000 that verse 15 tells us that they really, what they wanted to do was to make him king, and to make him king by force. However, as Jesus did so often over the course of his ministry, he quickly moves as he begins to teach to dissuade the crowds of the misunderstandings which were baked into their initial reaction. Very bluntly, Jesus explains to the crowd in verse 26 of this chapter, Truly, truly I say to you, you are seeking me, not because you saw signs, but because you ate your fill of the loaves. Do not work for the food that perishes, but for the food that endures to eternal life, which the Son of Man will give to you. So Jesus knew that the men and women standing before him were more impressed with the meal that they had been given than they were with the giver of the meal. And to correct this failure to prioritize, Jesus tells them that they need to quit working for bread and start doing the works of God. As a result of that assertion, they want to know, what does it mean to do the works of God? And Jesus explains in verse 29, this is the work of God that you believe in him whom he has sent. And it's really this exhortation in the text which provides the context for the passage that we have read, where Jesus is teaching the crowd who it is that he is, that they might indeed believe in him. And so Jesus declares, I am the bread of life, whoever comes to me shall, not hunger, whoever believes in me, shall never thirst. So what matters isn't how full your belly is, because eventually you'll be hungry again. What matters is that you feed upon the bread of life, which brings eternal satisfaction. But Jesus goes on in verse 36, I said to you that you have seen me and yet do not believe. Here's the crisis in the text. The crowds had marveled at the feeding of the 5 ,000. They had sat under the preaching of Jesus Christ himself as he held himself up before them as the proper object of faith. And yet they did not believe. Why? How could it be? How could they fail to respond when they had seen so much and when they had heard so much? A message that had no error, a better sermon than you will hear preached tonight, they had heard on that day, so how is it that they could fail to believe? Well, Jesus provides an insight into this quandary in verse 37, saying, all that the Father gives me will come to me. Whoever comes to me, I will never cast out. The implication is that if they have not come, if they have not believed, it is because they have not been given by the Father to the Son. Now, some might think that's a harsh response from Jesus, but as we observe in verses 39 and 40, Jesus freely promises to raise up every last person who looks on the Son and believes in him unto eternal life. The promise of the gospel stands open, believe on Christ and live, but not all believe. And the crowd's response proves it. In verse 41, we are told that the Jews grumbled about him because he said, I am the bread that came down from heaven. Now that Jesus has drawn a sharp dividing line between those who belong to him and those who don't, they are suddenly less impressed than they were just moments prior. In fact, as we see there in the text, stoop so low in their response to Jesus that they began to cast aspersions on Jesus' family. Don't we know this guy's mom and papa? Who is he to say that he's the bread of life come down from heaven? Jesus doesn't budge. Jesus doesn't alter his message. He does not change course in response to this criticism. Verse 43 to 45 shows this, Jesus answered them, do not grumble among yourselves. No one can come to me unless the Father who sent me draws him and I will raise him up on the last day. It's written in the prophets and they will all be taught by God. Everyone who has heard and learned from the Father comes to me. And some, if someone comes to Jesus, it is because the Father draws him. And those whom the Father draws will come without fail. And then our passage ends with a re -articulation of Jesus' identity as the bread of life which came down from heaven to give life to those who feed on him. Much more we can say there. We don't have time. That's our survey of the text though. So the question is what doctrinal lessons can we take away from the account which we've just considered? Well, four short lessons. First of all, the only way to be saved is through faith in Jesus Christ. This is taught in our text. It's taught throughout the New Testament. As Jesus explained to the crowd who was before him that day, it is those who do the will of the Father by looking to the Son and believing who are granted eternal life. Anything less is insufficient for salvation. It doesn't matter whether your idol of choice is a false god or your material possessions or your flesh. Trusting in anything or anyone other than the Lord Jesus Christ for salvation will lead you to hell. As we read later in the Gospel of John, Jesus says, I am the way, the truth, and the life. No man comes to the Father except through me. So the only way to be saved is through faith in Jesus Christ. The second point we want to consider is the fact that the only way to have faith in Jesus Christ is to be drawn by the Father. The only way to have faith in Jesus Christ is to be drawn by the Father. Our second doctrinal lesson is far more controversial than the first, but I hope that you see that it's no less scriptural. Jesus says plainly that no one comes to him unless the Father draws him. And why is this the case? Well, place this sermon in the context of the others. It is necessarily the case because as we have already heard tonight, we are naturally depraved. We do not naturally seek after God. We are born dead in sin. So if we have any hope of new life, we need the initiative and the power to come from outside of ourselves. Unfortunately, there is a power. Again, all that the Father gives me will come to me. So as we hear the outward call of God through the preaching of the gospel, the Father is sovereignly calling his elect inwardly that they might believe the message that they are hearing. So the only way to be saved is through faith in Jesus Christ. The only way to have faith in Jesus Christ is to be drawn by the Father. The third point here is that the Father draws sinners to Christ through the working of the Holy Spirit. Now here we recall the conversation which we've referenced between Jesus and Nicodemus. The Spirit is not mentioned explicitly here in the passage we read in John chapter 6. But I hope that it's obvious that these two passages are not to be divorced from one another. Instead, we may, interpreting scripture with scripture, deduce that the way in which the Father draws the elect to his Son is through the work of the Spirit. Like the wind goes where he wishes. As Westminster Confession of Faith chapter 10 paragraph 1 puts it, God calls those who are predestined unto life by his word and spirit out of that state of sin and death in which they are by nature to grace and salvation by Jesus Christ. That is a triune God saving an elect people. This is the fulfillment of the promise made to God's people in Ezekiel chapter 36 verse 27, where the Lord promised to his old covenant people in that day, the coming of the new covenant, I will put my Spirit within you. So the only way to be saved is through faith in Jesus Christ. The only way to have faith in Jesus Christ is to be drawn by the Father. The Father draws sinners to Christ through the working of the Spirit. Our final point of application, doctrinal consideration, is that this work is always efficacious and it cannot be resisted. The text tells us that all who have seen and heard from the Father will, in fact, do, in fact, come to Christ. There is no tentativeness in the Lord's remarks. This is not a maybe, hope so, hope it happens. All that the Father gives come. And this is consonant with the picture painted by the Apostle Paul in Romans chapter 8 verse 30, where we read of that unbreakable chain of salvation wherein those who have been predestined will be effectually called. So we read. And those whom he predestined he also called, and those whom he called he also justified, and those whom he justified he also glorified. Contrary to the Roman belief that the grace of the Lord Jesus Christ can be resisted as it was expressed and administered through the sacraments, contrary to the opinion held by many evangelicals that the Lord's call and the work of the Spirit can be resisted, we read here of a salvation which is planned in eternity and accomplished in time without fail. And many worry that such an understanding of God's sovereign working does damage to man's will. But it does no such thing. Without the triune application of redemption, which we have already discussed, man is wholly incapable of willing the good. His will is only free to choose those things which entice his fallen nature. Only when God transforms the will of the sinner through the working of the Spirit is this hopeless situation overturned. I will continue the trend here tonight by making reference to the canons of Dort, which are very helpful in explaining this point. There we read that it is by the effective operation of the same regenerating Spirit that God also penetrates into the inmost being of man, opens the closed heart, softens the hard heart, and circumcises the heart that is circumcised. He infuses new qualities into the will, making the dead will alive, the evil one good, the unwilling one willing, and the stubborn one compliant. He activates and strengthens the will so that like a good tree it may be enabled to produce the fruits of good works. You see, when we speak of the doctrine of irresistible grace, we are not talking about a trampling of man's supposed free will. Rather, we are talking about a transformation of man's will through the work of regeneration, brought about by the Holy Spirit that we might indeed repent and believe. And all of this follows quite naturally if you've been tracking with the development of the doctrines of grace tonight. As sinners, we are depraved. We cannot save ourselves. Our hope of salvation stems from the fact that God elected for himself a people for which he sent his son to die an atoning death. To speak of God's irresistible grace, then, is simply to speak of the application of those benefits to the elect. As the eminent reformed theologian John Murray put it in his discussion of effectual calling, calling is an act of God and of God alone. This fact should make us keenly aware how dependent we are upon the sovereign grace of God in the application of redemption. If calling is the initial step in our becoming actual partakers of salvation, the fact that God is its author forcefully reminds us that the pure sovereignty of God's work in salvation is not suspended at the point of application any more than at the point of design and objective. In other words, what the Lord planned to do in eternity, he most surely does. And he ends the quote this way, We may not like this doctrine, but if so, it is because we are averse to the grace of God and wish to irrigate for ourselves the prerogative that belongs to God. And he says, we know where that disposition had its origin. So, brothers and sisters, I close tonight by insisting with the great evangelists of yesteryear that you must be born again. And the way to receive that new birth is by the working of the Holy Spirit through whom the Father draws sinners to Jesus Christ for salvation. So believe on Jesus Christ, who died for sins and was raised to give eternal life. The gospel call to the preaching of the word goes out to all men, even if only some are effectively drawn. So it is incumbent upon you tonight, if you're hearing these words, that you would repent and believe if you have never believed in this way, then I urge you to do so now. And if you have, then give thanks, recognizing that it is not of your own volition. It wasn't up to you. Instead, it was the gracious gift of God to whom belongs all the praise and glory. Let's pray. Lord, we thank you that it was not left up to us because otherwise, if it were, it would have failed to have happened. We would not be saved. But you are good and you are gracious. Lord, and you transform our wills as you work within us through your means of grace. We might understand that which was previously baffling to us, that we might believe that which we once hated and that we might know a God against whom once we had rebelled. So we pray tonight that you would teach us daily to give you the glory for the great salvation which we know in Jesus Christ, in whose name it is we pray. Amen.
Fresh update on "two points" discussed on Bloomberg Daybreak
"Hours a day bloomberg television bloomberg business this it is six forty on wall street i'm karen moscow we go to first the word breaking news desk for today's morning call and here's bill maloney bill good morning and good morning karen our newest features are trading mixed right now dot futures higher by fifty three points s and p's are little change will naztech futures a lower by twenty two the u .s. ten -year -old at four point three four percent gold is up to oil is trading little change and bitcoin is higher by two point four percent hong kong fell one point three percent overnight while european markets are firmly in the green this morning and back in the u .s. on the economic front at nine forty five s and p global manufacturing p .m. i and at ten o 'clock construction spending after the bell last night alta beauty beat estimates and disney reinstated its dividend in other news the s &p 500 rose eight point nine percent in november its second best november since nineteen eighty wrapping things up alibaba was cut to equal weight over at morgan stanley live from the first to break a news desk i'm bill maloney karen right bill thanks and here live breaking news of your bloomberg tab squawk on your terminal s -q -u -a -w okay and that's a bloomberg business flash now here's michael bar with more on what's going on around the world michael karen the ceasefire between israel between and hamas expired overnight israeli fighter jets once again striking hamas targets in gaza during the seven -day truce hamas released more than one hundred hostages including eight yesterday in exchange for the hostages dozens more palestinian women and teenagers were freed from israeli prisons a order gag was reinstated on former president trump in the new york civil fraud trial against him judge arthur goren and overseeing the trial says he will rigorously and vigorously enforce it in thursday tonight football the cowboys beat the seahawks forty one thirty five in the nba the nixon warriors won the that's lost in hockey the islanders
A highlight from 1450: I Expect Bitcoin ETF Approval By End of Month
"In today's show, I'll be breaking down the latest Bitcoin technical analysis. Also, Sam Bankman freed. He is found guilty on all seven charges in the FTX fraud trial. Quoting Max Kaiser, tough talk when it comes to the minor league drug Adderall ish corner like SPF, but where's all the bravado when Jamie Diamond gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? He makes great point. Also in today's show, Bitcoin to the moon. Send it. I'm going to be sharing with you the top five Bitcoin price predictions for twenty twenty four and beyond. That's what's up. Also, the latest from Cathie Wood of ARK Invest, also a twenty seven hundred percent Bitcoin price explosion is incoming courtesy of one catalyst, according to the BitMEX founder Arthur Hayes. We'll also be talking about breaking news. The Valkyrie CIO expects the spot Bitcoin ETF approval before the end of the month. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at CryptoNewsAlerts .net. Again, that's Crypto News Alerts dot net. Welcome, everyone. Today is podcast episode number fourteen hundred and fifty. Can you believe it? I'm your host, JV, and today is November 3rd. Welcome to Moonvember of twenty twenty three. Let's kick off today's show with our market watch as we do each and every day. We got Bitcoin up about a quarter percent, hovering just under thirty five thousand. We have Ether up point three percent trading at eighteen hundred dollars. Cardano, one of the top gainers, up five and a half percent and also XRP barely in the green. And if we are in doubt, they say you need to zoom out. Let's look at the one month. Wow, that's much more sexier, isn't it? Now we have Bitcoin up twenty seven percent for the month. We got ETH up about 10 percent. Solana is up almost 70 percent. Cardano up twenty three percent. XRP up fourteen percent. BNB up seven percent. Personally, I love it when everything in crypto is a winner. It don't get no sexier than that. And look at Chainlink up fifty two percent for the month. Good lord. And check it out. Coin market cap percent in just under one point three trillion with about forty five billion in volume in the past 24 hours. Bitcoin dominance pulled back a little bit, currently at fifty two point seven percent, and the ether dominance in the 16 percentage range for the first time I have ever seen that I could recall. It's currently at sixteen point nine percent as Bitcoin dominance continues to outpace the rest of the market, especially Ethereum. And checking out the top one hundred crypto gainers of the past twenty four hours for chain up fourteen and a half percent trading at three dollars and twenty cent and Oasis Network up twelve percent trading at six point two cents, followed by the trust wallet token up almost twelve percent trading at a dollar twenty three and checking out crypto bubbles so we can see the top gainers for the past week. Massive shout out to Emilio. I appreciate the super chat. Fam, you're way too kind. Much love, much respect. He just said you are amazing. Nah, I think you're amazing. And I appreciate the orange so we can orange pill more mofos and help change the world. Let's freaking go. Much love, fam. But as we can see on the crypto bubbles on your screen, we got a lot of gainers overall. That means the market cap is pumping and a rising tide rises all ships and checking out the crypto greed and fear index. We're currently rated a sixty five in greed. Yesterday was a seventy two last week, a seventy and last month a forty nine, which is neutral. So there you have it, my fam. What's your thoughts on the current Bitcoin price action? Let me know. Are you pumped up for Moomvember? I sure as hell am. Let's dive into our Bitcoin technical analysis for the day. Check out the charts with a Bitcoin price action is likely to go next. Bitcoin broke below thirty five G's baby after the November 2nd Wall Street open, as analysis warned of overheated derivatives. As you know, derivatives are financial tools of financial destruction. Yeah, for real. Now Bitcoin under does the post fed gains. We're currently tinkering just under that thirty five thousand, which is now back at a resistance. The highs had come on the back of the encouraging language from Jay Powell, the chairman of the Federal Reserve, who in a speech suggested the interest rate hikes might soon end. Now, the Fed opted not to change the rates at the latest meeting on the Federal Open Market Committee, which was November 1st quoting their press release. Recent indicators suggest the economic activity expanded at a strong pace. In the third quarter, job gains have moderated since earlier in the year, but remain strong and the unemployment rate has remained low. Inflation remains elevated and accompanying press release stated. They also shared here that the U .S. banking system is sound and resilient. Sure it is. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation. The extent of these effects remain uncertain. The committee remains highly attentive to inflation risk. We all know they're full of ish, right, to say the least. And quoting crypto analyst, Bitcoin breaks out, reaches a new yearly high, which is currently just shy of 36 G's. Now, not a massive breakout, but as long as we say above 34 .8, which we currently are, the next target is 36 .5 to 37 ,000. And the altcoins will follow after, which is typically what seems to go down. Now, down over a thousand from its highs. Bitcoin was worrying some with derivative markets, particularly in the focus, quoting Charles Edwards at Capriole Investments. All Bitcoin derivatives markets are overheated at present. This captures the perps, futures and options. Stay safe out there. And also, we have reacting popular trader school agreed that arguing it was now the spot market to charge of saving the Bitcoin price strength, as he shares here, something to be aware of when sizing up positions currently, when derivatives get hot. This puts increasing focus on spot market to support the current prices and the trend. That's right. In his own analysis, we also had material indicators concluding caution should be applied to the current Bitcoin trading environment, meaning expect more volatility ahead and uploading the snapshot of liquidity on the Bitcoin order book for the largest global exchange, Binance. It warned support levels were apt to disappear quickly. A form of a rug pull. So you have been warned. Newcomer support gaining liquidity at this time lay at both 34 and 33 .5. So there you have it, fam. Again, how many of you are currently bullish on that? King crypto. And with that being shared, now let's discuss our next story of the day. The latest from Michael Saylor. He was recently interviewed on the news and shared some very positive sentiment in the Bitcoin market. Also, he has been a dollar cost averaging and stacking stats. This week, the Bitcoin price came within a hair of thirty six. I think we hit like thirty five nine ninety during our watch party before abruptly reversing and correcting to thirty four to fifty. But after nearly a 30 percent run over the past month, it is natural for the price to cool off as some traders take profit and market participants evaluate whether or not the catalyst for the rally remain valid. Now, despite the intraday price action, which saw almost five percent drawdown, a number of analysts remain bullish on Bitcoin naturally, and some expect another gamma squeeze. If the Bitcoin price manages to push through the thirty six three hundred level, we're only like four hundred dollars off of that right now. Just FYI, permables like MicroStrategy CEO Michael Saylor appear unbothered by the whipsaw price action. And on November 1st, MicroStrategy announced the October purchase of one hundred and fifty five more Bitcoin for five point three million. As the outlines here in October, MicroStrategy acquired additional one hundred and fifty five BTC for five point three million bucks, now holding one hundred and fifty eight thousand four hundred BTC like, whoa, and what's the most mind boggling? Saylor didn't even get into Bitcoin until twenty twenty. So it goes to show you someone can come here in twenty twenty three and become an even bigger whale than Michael Saylor. In fact, the likes of the Black Rocks of the world put Michael Saylor to shame because we're talking about mega mega mega whales on a massive scale. And when asked about the upcoming Bitcoin having during an interview on Squawk Box, here's what he had to share. Most of the natural sellers of Bitcoin in the market right now are Bitcoin miners and they have to sell to cover their electricity bills and capital costs and retire their debt. That's about a billion dollars per month worth of selling into the market. The protocol forces that to be cut in half as of next April or late April. And he also says, so you're going to see twelve billion bucks of natural selling per year converted to six billion of natural selling a year and at the same time as things like the spot ETFs increase the demand for Bitcoin. So that's why all of us are fairly bullish over the next 12 months. How many of you are bullish? Let me know. Demand is going to increase and supply is going to contract. And this is fairly unprecedented in the history of Wall Street. That's what's up now is a pretty ideal entry point for Bitcoin, according to Saylor. Also, he was recently interviewed and I actually transcribed this video clip when he was speaking on Squawk on the street. And I feel this is very relevant. Here's what Saylor says for the industry to move to the next level. We need to migrate to adult supervision. We're going to need the big banks to become the crypto custodians. We're going to need Wall Street to take a role and we need to rationalize away from the one hundred thousand crypto tokens. You know, the yo yo coins that people are manipulating to Bitcoin. Bitcoin is an asset without an issuer. It is the one universally recognized protocol that is a commodity in the space. And so when banks on Wall Street and responsible custodians are managing Bitcoin and the industry takes its eyes away from all the shiny little tokens that have distracted and demolish shareholder value, I think the industry moves to the next level and we 10x from here. Now, what's another 10x from the current price action we're talking about roughly? What is that? Three hundred and fifty thousand dollars per BTC. Send it and let's frickin go. Also quoting him here, I think the liabilities or the early crypto cowboys, the crypto tokens, which are unregistered securities, the unreliable crypto custodians for the industry to move to the next level. We're going to need to migrate to adult super vision. And I shared with you the rest of that quote. So there you have it. Let me know if you agree or disagree with the one and only giga Chad Michael Saylor. Next story of the day. This is breaking news. SBF has been found guilty in all seven fraudulent charges. Yeah, this is wild. Yeah, here we go. I'm going to read all this to you. Former FTX CEO Sam Bankman Freed was found guilty of all seven charges by a jury in his criminal trial in New York after about four hours of deliberations, meaning it didn't take long. Bankman Freed was found guilty of two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy. Good Lord. That's a lot of charges and it's just getting started. He'll be back in court in March to continue with some more charges to probably get guilty of. We'll return to the court for sentences by New York District Judge Lewis Kaplan March 28th. So that's the date is right before the having. Government prosecutors will recommend a sentence, but Judge Kaplan will have the final say. Now, Bankman Freed's crimes each carry a maximum sentence of between five and 20 years in prison with the wire fraud, wire fraud conspiracy and money laundering conspiracy carrying a maximum of 20 years sentence in a press conference outside the court, the New York Southern District U .S. Attorney Damian Williams called Bankman Freed's crimes a multibillion dollar scheme designed to make him the king of crypto, right? The Michael Jordan of crypto, the Warren Buffett of crypto and of one the biggest financial frauds in American history, Bankman Freed's attorney Mark Cohen said in a statement, we respect the jury's decision, but we are very disappointed with the result. Naturally, Mr. Bankman Freed maintains his innocence and will continue to vigorously fight the charges against him. Anyone here in the chat. We have over 200 people in the live. Anyone believe he is innocent? I am just curious if there's any outliers out there. Anyways, other key FTF execs, including former Alameda CEO Caroline Ellison, FTX co -founder Gary Wang and former engineering head Nishad Singh have all pleaded guilty to various charges and work with the government to testify against Bankman Freed in the five week trial. Now, Bankman Freed had pleaded not guilty to all the charges. And during his trial, he took the stand to maintain his innocence against the best wishes of his lawyers who told him to shut the what up, just saying, and marking the FTX November 2022 collapse as a number of big mistakes I made. He denied any wrongdoing in the FTX relationship with Alameda, attempting to distance himself from key decisions, which we all know is not true, according to the testimonies of their execs, Bankman Freed pinned the blame on Gary Wang for creating a function that allowed Alameda to trade funds on FTX that it didn't have and claimed he wasn't entirely sure what happened. Oh, I don't know what happened with Alameda's line of credit, which ballooned to billions in the collapsing crypto market of 2022. In his testimony, he also blamed Caroline Ellison for not focusing on risk management. How are you going to blame your ex? That's just why. Anyways, he didn't believe he defrauded FTX customers by taking over eight billion worth of their funds. Instead, he framed it as Alameda just borrowing from the exchange. Yeah, borrowing from investors without their permission is called stealing. I just wanted to point that one out. Now, Max Kaiser responded to this attorney who spoke out and he said, this is tough talk when it comes to the minor league, the drug Adderall ish coiner like SPF, but where's all the bravado when Jamie, the tapeworm diamond, the best the CEO, JP Morgan Chase, gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? You talk a good game, but you're no different than SPF. And I think Max makes some excellent points. The big dogs get away with this all the time, of course, but clearly there's levels to this ish, if you know what I mean. Now, what are your thoughts surrounding this case? How do you think this will likely continue to play out in March as they continue with the court trial facing more charges he's up against? Let me know, fam. I appreciate that. I got some very bullish predictions to share with you. In fact, I'm going to be sharing with you the top five Bitcoin price predictions for twenty, twenty four and beyond. Bitcoin continues to circle its highest levels in 18 months. Again, the annual high for the year is currently almost thirty six thousand dollars, but let's dive right into the predictions. First and foremost, Matrix Port predicts forty five thousand within two months. So two months from November would mean January. I could definitely see Bitcoin hitting forty, fifty thousand easy peasy before the halving. But let me know your thoughts. Now, that prediction came from Matrix Port, the crypto trading firm founded by Jihan Wu, himself a founder, a Bitcoin mining giant Bitmain in a blog post in late October. Matrix Port doubled down on a forty five thousand year end price targets. That's the Christmas target. Let's go, Santa, which is initially revealed in January. It was based on a handful of in -house models with Matrix Port also successfully predicting Bitcoin's October gains. Quitting them here, Bitcoin is breaking above the July thirty one five resistance showing that forty five is achievable by the year's end. And again, I think that's a very doable target. But let me know your thoughts. The next prediction comes from Bitcoin. They say new all time high pre halving. I also agree with that, especially if we get the ETF approval. I would anticipate above and beyond sixty nine thousand before the April twenty twenty four halving, but that's only if you know what I mean. We'll see how this plays out. The halving is a watershed moment. We all know the blocks of subsidies get cut in half for the miners in September. Bitcoin stated Bitcoin would surpass its current sixty nine thousand peak before April of twenty twenty four. Now they shared here, no, Bitcoin is not going to top before the halving. Yes, it's going to reach a new all time high before the halving. No, Bitcoin is not going to one hundred and sixty G's because the magnitude of every pullback is large. This means it'll peak after the halving in twenty twenty four. And yes, the target price is around two hundred and fifty thousand dollars. I love that. That's right in alignment with Max Keiser's short term target of two hundred and twenty thousand. Now, they also shared this chart. Both the all time high and the post halving two hundred and fifty thousand target came courtesy of the Elliott Wave theory charting, which we cover commonly here in the show with Bitcoin mimicking the behavior from the previous cycles. And you can see their estimation of how the Bitcoin price is likely to rise is coming directly from Bitcoin. Now, Bitcoin did, however, make room for a total of four pullbacks. As outlined in this chart, you can see one, two, three, four. Before we hit the peak at five, quoting them here, there will be one pullback before breaking to a new all time high, followed by another pullback at around one hundred and twenty five thousand. Additionally, there will be two more pullbacks after the halving, which are not demonstrated here. Now for the next one, three Bitcoin price models, one hundred and thirty thousand dollar target zone. That's right. Let's freaking go. Quoting CryptoCon here, I'm prepared for the lower prices, but the stars are aligning at one hundred and thirty for the Bitcoin this cycle. And the concept also hinges on the halving events and the next peak should come around four years after the sixty nine thousand dollar move in November of twenty twenty one. We all know everything is cyclical and Bitcoin every four years driven by the halving. Now the one million dollar question. How about a one million dollar Bitcoin price target leads us to Kathy Wood of ARK Invest, the CEO and chief investment officer, has joined former BitMEX CEO Arthur Hayes in doubling down on her seven figure price prediction when this could happen, understandably up for debate. But changing macroeconomic tides have emboldened what remains a daring Bitcoin price prediction. In October, Hayes maintained that the path to a one million dollar coin was in full effect thanks to the macro reality. Now quoting BlockWorks on the Margin podcast right here, this was shared actually on an interview. If people lose faith in the bond market and this fiat artificial construction we have created over the past 80 to 100 years, this global economy and how it has been structured, if we lose confidence in that, then the amount of money that's going to be looking for an alternative is going to be something that we have never seen before. He shared over in an interview and speaking of Kathy Wood, she was just on Bloomberg and here's what she shared when she was asked, what's a better hedge against inflation? Is it Bitcoin or is it gold? And very boldly she said, Bitcoin hands down, hands down is a hedge against both inflation and deflation. Yes, so is gold, but Bitcoin is digital. And if you look at the incremental demand we are going to see, but gold already has its demand. You know, it happened already, right? Bitcoin is new and institutions are barely involved in the young people would much rather prefer to hold Bitcoin than hold gold preach. So it's interesting that both gold and Bitcoin are hedges against deflation, but Bitcoin has been doing better recently preach and Bitcoin naturally will consider outpacing gold. I think it was Max Kaiser who said for every dollar, the Bitcoin price action increases. I'm sorry for every dollar, the gold price increases expect Bitcoin to go up by over $20 meaning it will continue to outpace gold by a factor of 20. Let me know if you agree or disagree fam. And we spoke about Kathy Wood and her a $1 million price prediction. In fact, she even has a bullish case scenario by the year 2030 of Bitcoin hitting $1 .48 million. Keep that in mind. But now let's discuss Arthur Hayes, the BitMEX founder predicting Bitcoin price to rally 2700 % taken us to $1 million per coin. And then we'll dive into the latest updates with the likelihood of the spot Bitcoin ETF being approved this month in November. According to the major asset manager, here we go. BitMEX co -founder Arthur Hayes is doubling down on a prediction. The Bitcoin is destined to reach the seven figure price. Hayes says that a monetary policy tool known as the yield curve control will act as the catalyst for Bitcoin to reach that 1 million Mark, a gain of around 2 ,700 % from the current level. Send it, let's go. Central banks use the yield curve control to influence the longterm interest rate level by buying longterm bonds as much as possible to prevent the rate from rising above the intended target. And according to Hayes, the entire U S government is enabling a loose monetary policy environment. Even as the fed continues tightening. Now the BitMEX founder first predicted seven figure Bitcoin earlier this year in March in that essay, which I covered here on the show. And at the time, he argued that China's loosening of his monetary policy would trigger Bitcoin to explode to $1 million per coin. Hayes also says the decision by the fed mid this week, uh, pause the rate hike interest rate suggests it's time to pump it up, pump, pump it up. And according to the BitMEX founder, the feds decision would trigger other central banks to also ease their monetary policy. Quoting him here over to you, BTC, let's go. I shall increase the pace of my rotation out of treasury bills and into Bitcoin and ish coins. Now that the fed had paused over two meetings, every other central bank has cover to print expect massive stimulus coming from China, Europe and Japan. So there you have it coming directly from crypto Hayes. Just blaze. Let's get it now for the moment you have all been waiting for. Let's dive into our featured story of the day and discuss a Bitcoin ETF being approved this month in November. And what would that mean for the crypto market? Let's break this baby down. We have Steven McClurg, the chief investment officer at Valkyrie investments has put forth a strong indication that a landmark approval from the U S SCC for a spot Bitcoin ETF can transpire by the month's end. Send it and let's go. The approval of the spot ETF is currently one of the biggest factors influencing the Bitcoin price as well as the entire crypto markets trajectory. You can say that again now alongside the financial giants such as black rock, the world's largest asset manager fidelity, which is about half the size of black rock. We got Vanek, we got Invesco, we got Valkyrie, one of the companies at the forefront of the battle with the SCC over the spot ETF. We also have grayscale. Don't forget the GBTC product. We have the firm managing to Bitcoin related ETFs at the moment. Now Valkyrie Bitcoin and ether strategy ETF and the Valkyrie Bitcoin miners ETF with a combined asset value of 51 .1 million at this time. And they also have active filings for spot Bitcoin ETF. Now McClurg, citing the latest amendments to Valkyrie spot, Bitcoin ETF app anticipates the SCC will issue another series of comments within the next weeks, potentially setting the stage for the approval of the 19 before rule changes by the end of the month. Send it quitting him here before anything else happens, we get a second round of comments and I believe we'll probably get those comments in the next one to three weeks. A late November approval likely means a February launch. So note that if we get the green light in November, it means the Bitcoin ETF would likely launch a few months later in February, which would be right in time again for the Bitcoin having. Now he also shared with ETF .com this interview suggesting a timeline for the SCCs response to these crucial amendments. He also argues the SCC can wait until January to ask the applicants to put the final touches on their S one filings. That's the other alternative scenario. Now Nate Geraci, host of the ETF prime pod explain that Valkyrie CIO suggests SCC can approve the 19 B fours exchange rule changes for the spot Bitcoin ETFs by the end of November and then the S one registration statements early next year. These don't have to be approved at the same time, so keep that in mind. Though they need both for the ETFs to begin trading. Now in recent weeks, the SCC has been actively communicating with ETF apps and disclose that the agency is carefully scrutinizing all spot Bitcoin ETF apps. The focal points of the SCCs inquiry have pertained to the comprehensive explanation of various risk disclosures, methodologies concerning index usage and net asset value computations, environmental risk inclusions, as well as detailed insights into custodial practices. Recent amendments to filings by entities such as BlackRock and VanEck have been augmented to eludicate how initial fun seating could be conducted and also note that BlackRock already began seeding their ETF back in October, which was last month. This is something that Larry Fink their CEO has already disclosed. Now because of that, industry experts remain cautiously optimistic. We have Matt Hogan, the CIO of bitwise asset management, highlighting lingering concerns, quitting him here. Market manipulation is still a potential stumbling block. Custody isn't a wrap, so there is still a lot of work to do, he stated. Now the anticipation isn't purely speculative. The man forecast suggests substantial interest. McClurg envisions about 10 billion bucks flowing into these products within the first one to two months post launch. While bitwise projects 50 billion in inflows within the first five years. I think that's extremely conservative. I could see trillions of inflows within five years, but hey, to each their own. Valkyrie revised its spot Bitcoin ETF filing October 30th a few days ago with an S1 registration statement submitted to the SCC outlining the Valkyrie ETF. The proposed fund shares are intended to be listed under the ticker BRRR on the NASDAQ stock exchange. Valkyrie updated their app and a part of a wider trend as several firms have similarly refiled their spot ETF apps signaling a concerted effort toward regulatory compliance and optimism for approval. Bloomberg ETF analyst, James Saferard identified these amendments as positive signals for progress and possible imminent approvals. Let me know which you think will get the green light first from the SCC. We all know it's imminent. We all know it's going to happen, but when is it going to be November? Is it going to be December? Could it be January? Could it be March? Let me know in the live poll we have on the screen. I have some bonus content to share with you before we dive into the live Q and A. This is from jury and Timur. Why is this so relevant? He is the head of macro at fidelity fidelity being a four and a half trillion dollar asset manager. He's the one who predicted a billion dollar Bitcoin price by the year 2038 and here's something he just recently shared. He shares some incredible threads I want to share with you. Bitcoin is volatile, but it's scarcity and adoption curve create the potential for it to be a high powered hedge against monetary shenanigans. I think of it as exponential gold and in this chart it shows you Bitcoin going past $1 .2 million per coin. That's pretty sexy. Gets me excited as he shares here. One of the attributes of Bitcoin is that it's a network asset and as such it's adoption curve has followed the typical S curve shape. We have seen many of the S curves throughout history and he continues here in the thread. The question, where is Bitcoin's journey along that S curve? A network assets value is driven by its adoption curve, so the slope of that curve matters a lot. Makes a good point. And when I first went down this rabbit hole in late 2020 it's adoption curve, which I defined as the number of non -zero addresses was very steep. It resembled the S curve for mobile phones during the 1980s and the 1990s, which was pretty promising. I'm going to read you a few more now. However, as the real rate narrative changed from dovish in 2020 to hawkish in 2022, the adoption curve flattened and it is now closer to the slope of the internet adoption curve from the two thousands and it has not made much progress since 2021. Now we also had some other threads which are very valuable. I'm just going to read the lead part of it with Bitcoin moving up. Once again, will its adoption curve accelerate as it did a few years ago and how does the macro trend on rates affect it? There's some very insightful data. If you want this, check the show notes below the video in the description. I'll include all of this. And he had one more good thread continuing the discussion from the recent thread on Bitcoin. I highly recommend you check this out because again, this is the head of macro over at Fidelity, one of the world's largest asset managers. So there you have it, my crypto fam and don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in our live Q and a, and I look forward to seeing you on tomorrow's episode.
A highlight from Raiders Fire McDaniels & Trade Deadline Moves
"The one thing we can never get more of is time. Or can we? This is Watson X Orchestrate. AI designed to multiply productivity by automating tasks. When you Watson X your business, you can build digital skills to help human resources spend less time generating offer letters, writing job recs, and managing schedules, and spend more time on humans. Let's create more time for your business with Watson X Orchestrate. Learn more at ibm .com slash orchestrate. IBM. Let's create. Tired of scrolling endlessly in search of the perfect holiday gifts? Look no further. CNN Underscored is your destination for holiday shopping. Our team of editors has carefully curated dozens of gift guides so you can find a special something for everyone on your list. Our holiday gift guides provide tailored recommendations for everyone from tech enthusiasts to pet lovers to help make your holiday shopping a breeze. Visit CNN Underscored .com today to discover the perfect gift to make this holiday season truly special. Happy shopping. Hello, everybody, and welcome into the MMQB podcast. I am Matt Verteram alongside Gilberto Manzano, as is the case every single Wednesday. And Gilberto, look, first things first. Here's the good news. We still have our jobs. The bad news is some people with the Raiders do not. Now, maybe if you're a Raiders fan, maybe that's not bad news. Maybe that's great news. I don't know. I'm not I'm not part of Raider nation. I would imagine that the frustrations at an all time high. You have covered the Raiders in the past as a Team Beat guy. They are now looking at Antonio Pierce as their interim head coach because Josh McDaniels is gone. Dave Ziegler gone as the general manager. And so we'll see who takes over that post eventually. This is not exactly new to the Raiders. This has been a revolving door, whether it was Jack Del Rio at one point, a head coach, or it was John Gruden or it was Tony Soprano or it was, I mean, on and on and on and on, you know, Mike Mayock at GM. And you can just keep filling in the names. None of them lasted that long. And so now the Raiders mid -season firing, of course, because it's happened with Gruden under different circumstances. Gruden, essentially, they had to move off of immediately. McDaniels are moving off of because he just flat can't coach. What are your thoughts on the Raiders and what happened essentially at like midnight for most of the country, these two out the door? Yeah, you know, I'll start there. It was like, I think, 10 p .m. on the West Coast. So, you know, I was still up trying to enjoy the last couple hours of Halloween. And Matt, I was watching the original Friday the 13th. I was carving a pumpkin. I had like maybe, you know, 50, you know, chocolate bars. You know, I was stuffed and I saw this from Adam Schefter. And I'm like, oh, okay. I was a little surprised. Mark Davis actually did it 25 games into the hiring of Josh McDaniels, which I think we all could say, yeah, it was a bad hiring a year and a half ago. But shocking that Mark Davis actually did it before the second year was over. And this guy, what, a month ago told a fan at SoFi Stadium, smart enough, smart enough, you can't fire Josh McDaniels. And all of a sudden you're the one that got smart enough. OK, I don't know. I have a lot of emotions about that, you know, the way it played out. But, you know, I wanted to give you my reaction about how I caught this on Halloween Eve. And I'm sure people on the East Coast, you're two hours ahead of me, Matt. So I don't know if you caught it right away, but a lot of people were sleeping and they woke up. So you probably like at midnight, OK, what the heck happened here? But I'll start there. I was just shocked that Mark Davis did it, but it was a right call. I Yeah, figured you'd do it after the season. But it's funny because I was assigned the Monday night game. And so the Raiders are playing the Lions and I'm sitting there and I'm thinking, like, what can I write about this game? I mean, the Lions are just rolling up and down the field. But like I've written about the Lions. I've been in a few of their games this year in person. I was like, look, there's not I feel like we're not learning anything about the Lions. They're a good team. And the Raiders are sitting there in Grappola, throwing for like 40 yards through three quarters and just hideous football. Adams is frustrated. McDaniels is just looking at his face like he knows the end might be near. And I said to our editor, John Bloom, I said, you know. How about I just write a piece that I just say they should fire McDaniels and just bench Garoppolo and be done with this? And we then both kind of agreed like, well, that's all right. You know, it's early. We'll pass on it, whatever. And we ended up not writing anything about the game because the game is kind of just a non story. And I was joking with John this morning. My God, we should have wrote that piece would have been the most prescient people in the country. I didn't think it was going to happen the next day. But I mean, what a what a just absolute tire fire. Look, Josh McDaniels. Is a terrible head coach, and he showed that in Denver, like he not only was bad in Denver, he ran guys out the door. You know, Jay Cutler gone, Brandon Marshall gone. Josh McDaniels from afar has the syndrome of being the smartest guy in the room. And he's not the smartest guy in the room. Not saying he can't be a coordinator. Had plenty of success as a coordinator with Brady. And I don't know if he could be a coordinator without Tom Brady. He had plenty of success with him. Josh McDaniels was a disaster in Denver. He quit on the Colts before he even got started with the Colts. And now you look at this Raiders tenure. They never got any traction. They blew a million big leads last year. They went six and 11 after making the playoffs. I might add the year prior. Runs their car out of town, runs Darren Waller out of town. Hunter Renfro is barely playing. And now you're sitting here in the three and five, and they're not even as good as a three and five record would indicate. They have not played well all year long. I just think the Raiders going forward here. It now becomes a matter of. How do you fix the process of finding the right guys? Because Mark Davis has not found the right guys over and over and over like this starts with him. You could fire the coach in the GM all you want. Mark Davis has been a failure of an owner since he took over for the late great Al Davis, of course, his father. That's where this thing starts. Like, does he bring in an outside firm to do these hirings? Because I think that's where this has to go at this point. He has proven he cannot make these hirings with any kind of success rate. Yeah, man, you know, I'm concerned about, you know, Mark Davis just, you know, being kind of a you know, he cares about what the public perception is. OK, what are they saying out there? And that's why he went off on that fan. And so if I say I'm saying smart enough and I'm like, why do you care? Let the guy just say whatever he has to say. And then you're the one running the show here. You know, you're the one has to make the smart decision for the team. And yes, he did the right call. Let him go. Josh McDaniel's. But his two last hirings, he wanted a big name. He wanted a big name with John Gruden. You already went down that road. You give the guy a 10 year contract like, you know, I think you want to make you want to make a splash. You're going to Las Vegas like that didn't sit right with me. And obviously that that went sideways for different reasons. And the same thing with Josh McDaniel's. You're going to get headlines regardless. Like, yeah, you know what happened with the Colts briefly with the handshake. And then you bail out and then what happened in Denver? Like these are all red flags for the guy. And you still go because you want to try to copy the picture away. That's the biggest thing right there, man. You can't copy something and try to replicate it. And that's kind of the worst way to do it, too. So, you know, and I'll say this about Josh McDaniel's, because, you know, I guess my rule and I get why you want to write that piece. But and I get what you guys decide is a little too soon, because it did feel a little too soon. But it was a right situation because Josh McDaniel's background is offense. And that is a horrendous offense. I think he's put out there. And reason number two, man, it was his guys. He finally said, you know what, Derek Carr, different regime. Let me get Jimmy G and I don't know what the story is about Jimmy G's being the number one, two or three option. Who cares? You picked them. You brought them in with Dave Ziegler and all these Patriot guys came in. And you're still that bad. Josh Jacobs was a reigning champion a year ago, and he's rushing for like two point four yards per carrier, something pretty bad. So that's your background. And the other the third point, Matt, you always need a scapegoat. And the defense has been playing pretty well. Patrick Graham cannot take the fall when his defense is actually producing. It's your office, your guys. So see you later. Yeah, I mean. I'm to the point with the Raiders. I'm thirty five. I know you're essentially the same age as me. They've sucked my entire life, say, for like three or four years with Rich Cannon. OK, and that's not that sounds like I'm just like taking some cheap shot out. My point is you got to do something differently. I mean, it's some juncture. You know, the Raiders have this weird pride about like who they are. That was great in the 70s and 80s. You there don't should be no pride in who you are now. You've been a losing friend. You've you've been the Lions for 30 years. You've been the Browns. That's who you've been. I mean, everybody talks about the Raiders like this is some unbelievable gold standard of a franchise. Yeah, it wasn't the 70s and 80s. It's not anymore. It hasn't been for a long time. I mean, they have not won a playoff game since the twenty two season. Two thousand and two. You're talking over 20 years now. And most of those years have been non -competitive. And you're now looking at this thing going, all right, look, you need a quarterback, you need a coach, you need a GM. That is that is a lot in a division where you're looking up at Patrick Mahomes and in a conference where you're looking up at not only Mahomes, but at Burrow and Allen and Lawrence and potentially the ascension of Tua and all these other guys. Lamar, right? And all these guys. They have miles to go, which leads me to this. I don't know how you feel about this. We haven't talked about this for a show. At the end of this season, I would trade Devante Adams and I would trade Max Crosby for as much draft capital as I could possibly get, because by the time they're really good, Adams isn't going to be there anymore. And by the time they're really good, I don't know what you're getting out of Max Crosby. Like those guys both fetch first rounders plus right now, maybe even multiple first rounders. Like if I'm them and I'm the GM there, man, I know it's going to be a rough couple of years. I get it. I would trade both those guys for the highest possible value I could get. Yeah. And you know, the concerning part about Mark Davis being so quick with the firing. Like, does he want like a quick fix? Like you think this roster is ready to win now? Yeah, you got Devante, Max Crosby and Josh Jacobs, three guys that are pretty good at the position, but you need a full teardown. Go get the draft picks like you mentioned, Matt. And, you know, and actually do a hiring where you're not trying to copy the old silver and black way or copy the Patriot way. Like find your own identity. Mark Davis, like, like it's been many years now, over a decade, your dad hasn't been around and you know, you can't copy things that you can't go with for the big name. You don't want to try to keep up with your, your, your owner friends and say, look at who I got here. And look how much money I'm getting on Las Vegas. Like the other bad thing too, like seeing the, the, the allegiance state of being taken over by the opposing fans. Like you're, you're the Raiders. You have fans all over your Raider nation. So even that part is really bad for where Mark Davis is doing. So like you mentioned, you know, hire somebody from the outside to help you out because you haven't been doing it right. Credit for owning your mistake and eating the money from the Gruden contract and now with Josh McDaniels, but enough with the copying, the quick fix, like I'm with you a hundred percent tear down this roster. Like, like yesterday, what are the Broncos doing? Keeping all these players, like go get the draft picks and do a full rebuild. So a lot of heads crashing moves. It's weird. Like the dovetail on the Bronx, that's actually a perfect segue into this, this next topic we're going to have here last. I'll say on the Raiders by the way, and all these things enough with the Patriot way, you know what the Patriot way was? It was Belichick and Brady. That's the Patriot way. So unless you're, you're turning back time, 20 years, it's not going to work. The Broncos though, you know, we want to talk about the NFL trade deadline, which of course was on Tuesday, winners and losers go. You did a great piece, man. I'm breaking that all down. I encourage people to check that out. I agree with you. Just about everything you wrote. It was excellent. Um, I sat there and thought the same thing you just said about Denver. What is the point of keeping all these guys like, do they think because they beat the chiefs in that game, that they're a contending team now? I mean, I don't know if, let me save everybody to suspense and drama. I sat through every snap of that football game. If you told me the chiefs had money on Denver, I'd be like, that makes sense. I could see that that was the worst game I've seen them play in the Mahomes era. And I'm not trying to gain away from Denver, but I'm going to be honest. That was not because Denver was some juggernaut in that football game. The Broncos went an average of 33 yards per touchdown drive.
WSJ: Biden’s New Power Grab
"They want to regulate it now. Wall Street Journal, James Freeman, Biden's new power grab. What are they talking about? Another power grab? Yes, sir. Artificial intelligence. Wall Street Journal reports, the Biden team plans to invoke emergency federal powers. Wow. They must be really concerned, folks. As part of new a executive order aimed at reining in the risks of artificial intelligence. President Biden will release on Monday an order invoking the Korean War era Defense Production Act, which would compel major A .I. companies to notify the government when developing any system that poses, quote, a serious risk to national security, national economic security or national public safety. National public health and safety, isn't that the same thing they used to censor people on covid? Oh, I'm sure that's just a mistake. Some good coffee there. Sure, that's just a mistake, folks. They want to put out vaccine version number seventy two point five and tell you how wonderful it is. What if A .I. out comes and says, oh, the data actually says that vaccine seventy two point five is not very effective. What's they're going to do is they're going to reach out to these companies and say, you better pull that down. That's algorithmic discrimination. You're causing a national security problem. Yeah, but it's just
A highlight from 1447: Max Keiser: Bitcoin will reach $10,000,000 per coin
"In today's show, I'll be breaking down the latest Bitcoin technical analysis and this just in, there are now nearly 40 million Bitcoin addresses in profit, which is a new record. So congratulations and shout out to my long term hodlers. Also in today's show, as I shared, the Bitcoin white paper turns 15 years old today as Satoshi Nakamoto's legacy lives on. Let's go. Also in today's show, crypto asset manager Valkyrie amends their spot Bitcoin ETF filing. I'll be breaking down this latest update, as well as a Bitcoin rally to $50 ,000 per coin is now on the cards as the Bitcoin bull market arrives. According to top crypto analysts, I'll be sharing his timeline. Also in today's show, Max Keiser joins the Alex Jones show to predict the latest Bitcoin trends and price predictions and warns of suicide bankers that will destroy the world. Not only that, but Max Keiser gives Alex Jones a simple, very simple five question Bitcoin quiz for 10 ,000 Bitcoin worth $350 million in today's terms. I'll be breaking all this down for you. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at Cryptonewsalerts .net. Again, that's crypto news alerts dot net. Welcome, everyone, to podcast episode number fourteen hundred and forty seven of the Cryptonewsalerts pod. Today is Bitcoin's birthday, October 31st, 2023. Bitcoin is 15 years old and I'm your fearless host, JV. We have lots to cover, as we always do. So let's kick it off with our market watch. As we can see, you should be able to see Bitcoin barely in the green, holding on to thirty four thousand four hundred support. We also have ether barely in the green, a little bit of boring trading sideways action. But if we check out, you know what they say, when in doubt, zoom out. Right. Let's check out the seven day coin 360. Bitcoin's now up four percent. You got XRP up nine percent. Let's zoom out a little more and check out the one month price gains. Let's freaking go. This is a testament that October in full effect, Bitcoin is up almost twenty eight percent this month. Let's freaking go. That's pretty massive. And let's not forget, we're moving into moonvember tomorrow. So do you think we're going to surpass forty thousand? I think so. In fact, if I was a betting man, I'd bet on it. Now, if we zoom out, can we even zoom out a little more? Let's see here. Well, let's switch it up. Let's go to coin market cap dot com. We can see the crypto market cap currently sits at one point two eight trillion with Bitcoin dominance at fifty two point eight percent and the ether dominance at seventeen point one percent and checking out the top one hundred crypto gainers within the top or in the past twenty four hours. We got Celestia, which I've never even heard of before. Up sixteen percent. We got XDC up six percent trading at five cents, followed by TonCoin up five percent trading at five dollars and thirty three cents and checking out crypto bubbles. We can see the top gainers for the past week. We have a mixture. Some are in the red, some are in the green. And let's zoom out. Let's check out the weekly massive gains in the green. Let's check out the monthly. Wow. Incredible. Some of these alt coins are up 50, 60, 70 percent, which is pure insanity. E -Hacks is up one hundred and forty five percent. What about the annual? Holy moly. And let's check out the market cap plus the week and we can see Bitcoin and a big bubble at three point three percent, followed by ether at two point nine percent and checking out the crypto greed and fear index. We're currently rated at sixty six, which is greed. Yesterday, a sixty eight. Last week is sixty six and last month a forty eight, which is neutral. So there you have it, fam. Yeah. So let's kick it off with our Bitcoin technical analysis. Check out the charts with the Bitcoin price action is likely to go next. Here we go. Bitcoin's price trying to push towards the coveted thirty five thousand level. The current high for the year is thirty five thousand two hundred, but has so far been unable to progress. The rest of the crypto market seems to continue with its consolidation, with some of the alts performing better than others. So let's start with Bitcoin here. The Bitcoin price was trading above thirty four G's and seemingly pushing for the thirty five level. And right now we're right in between those two marks. Today, the price remains above thirty four, roughly thirty four five at the time of the live, but is unable to reach the coveted resistance level and is currently at a loss, but barely. We're, you know, kind of tinkering. And liquidation data is also interesting to monitor. According to Coin Glass, the total liquidations for the past twenty four hours are just short of one hundred million bucks. Most of these were long positions accounting for sixty three percent of the total. This shows that the bears were more dominant over the period. Now, the majority of the liquidations, as always, happened on Binance, which is the largest crypto exchange in the world, followed by OKEx and Bybit. And I'm curious, what's your go to recommended crypto exchange? Do you use Binance? Do you use OKEx? Do you use Bybit? Do you use Coinbase? Do you use Kraken? Let me know, fam. And let's now check out some of the technicals specifically for Bitcoin. Right now, as you can see, the oscillators on the left, we have three cell signals. We have seven neutral and one buy signal. And that one buy signal is the MACD, which you can see here on your screen. Now, if we scroll to the right a little bit, we can see for the summary, there's currently eight neutral signals. There's four cell signals and 14 buy signals, which is definitely a bullish indicator. And for the moving averages, which may be cut off on your screen, but I can read it to you. It shows you sell signals, only one neutral, only one. And we have freakin 13 buy signals right now. The market is ripe and ready for continuation of some momentum. So let's freakin go. Now, let's break down our next story of the day and discuss some technicals, which are definitely bullish for Bitcoin. As you can see here, there are now nearly 40 million addresses in profit. If you're one of those 40 million Bitcoin addresses in profit, make some noise in that live chat and let's freakin celebrate. I mean, that's a massive victory, to say the least. Bitcoin has more wallet addresses and profit than ever before. Despite Bitcoin's price being 50 percent below the all time highs. That's right. Right now, you can buy Bitcoin two for one special, but it's not going to last for long. So seize the moment, fam. The latest data is from on chain analytics from Glassnode showing a record number of addresses in the black. Bitcoin may be nearing 18 month highs, but its recent gains were already enough to spark the significant changes in investor profitability. Shout out to relaxing and meditation music. I the appreciate ten dollar super chat. Much love, much respect. Keep it coming. Let's go. Per Glassnode data, the number of addresses in profit as of October 30th was thirty nine point one million. This is the highest number ever recorded for the Bitcoin users and beats the previous peak of thirty eight point one million seen back in November of twenty twenty one. And does this date ring a bell? That's at the time we hit the all time high of sixty nine thousand. Now, at the time, Bitcoin itself traded at those all time highs and thus 100 percent of the addresses in existence with a non -zero balance were obviously in profit. And while the current spot price remains 50 percent lower than those levels, the total non -zero addresses now number forty eight point three million, as you can see here in this chart. And it's just likely to continue soaring and rising. Bitcoiners taking over the world. Yeah, I mean, in percentage terms and profit addresses, they have yet to match their performance in absolute numbers, but nonetheless, at 18 month highs of eighty one point one percent. Let's go. The tally has gone from 60 percent to over 80 percent over the past two months, as Glassnode shares here in the chart. And by contrast, addresses at a loss currently stand at just over nine million at their peak in December of twenty twenty two. Following the FTX meltdown, the total was over 20 million. Now, as reported, the past week has seen the Bitcoin price action pass multiple resistance levels while returning both the long term and short term hodlers back to profit. This in turn sparked profit taken at the much more speculative end of the hodler spectrum, especially as the market passed thirty four G's. Now for crypto analyst Van Stratton, research and data analyst at Crypto Insights Crypto Slate. This underscores the difference in mentality between the cohorts, quoting him here. Bitcoin has shown remarkable strength above thirty four thousand for the past five days while witnessing one of the strongest profit takings in the past two years for the short term hodlers. Now, long term hodlers have barely budged the six largest profit taking this year, but minimal in the grand scheme of things and accompanying the charts from Glassnode tracked these inflows to the exchanges from the long term hodlers and in profit to the short term entities as outlined here in these charts. Now, let's break down the 15 year birthday, the 15 year anniversary of Bitcoin. I mean, this is phenomenal that Bitcoin has been in existence for 15 years. Imagine if you would have knew about Bitcoin back on October 31st, 2008. Talk about a small circle. But yeah, today marks 15 years since the synonymous creator of Bitcoin, the one and only Satoshi Nakamoto, who Alex Jones claims Max Kaiser is maybe because Max holds as much Bitcoin as Satoshi. Who knows? But anyways, shared the Bitcoin white paper to the mailing list of cryptographers on October 31st, 2008. This was after the financial collapse, fam, and a date also annually celebrated as Halloween, quoting the the white paper here. I have been working on a new electronic cash system that is fully peer to peer with no trusted third party, as Satoshi famously said in the opening sentence before linking the document titled Bitcoin, a peer to peer electronic cash system. Holy moly. I mean, again, this is legendary. This is history in the making. You're witnessing firsthand the white paper proposed the decentralized system that could facilitate peer to peer transactions, which can solve the double spending problem often associated with digital currency in which it did. It proposed to achieve this via a network of nodes, validate and record transactions through the proof of work consensus mechanism, launching just two months later, officially on January 3rd, 2009. Satoshi's computer science breakthrough came on the back of other impressive developments in the cryptography and e -money spaces. The first reference cited the Bitcoin white paper is Wade's invention of B money, an electronic peer to peer cash system that never launched, but nonetheless played a key role in Satoshi's plans for Bitcoin and like Bitcoin B money. And I'm curious how many of you have ever heard of B money? We have all heard of B rabbit from 8 Mile, but B money, I've never heard of that one, proposed that participants in the system maintain a database of account balances, which keep track of the ownership of money. Transactions would be initiated and completed by a broadcast message to all participants, which would update the account balances of those involved in a specific transaction. In many ways, it could be seen as a precursor to the nose of the Bitcoin protocol, which keeps a record of the constantly growing blockchain. And I'm curious, how many of you run your own Bitcoin node? Let me know in that live chat. Fam, this process requires proof of work, a form of cryptographic proof in which one party proves to others that a certain amount of the specific computational effort has been expanded. Now, Satoshi implemented this into Bitcoin, citing Adam Back's invention of hash cash in 1997. Shout out to Adam Back, the creator of, I believe it's Blockstream, now, which incorporated proof of work to limit the email spam of denial of service attacks, as shared here by Crypto Leroy, the cypherpunks and fathers of Bitcoin, Hal Finney, he created the reusable proof of work. We got Adam Back, who created hash cash, Wei Dai, who created B money, David Shum, who created DigiCash. We have Nick Szabo, who created BitGold, Phil Zimmerman, who created PGP, Bram Cohen, who created BitTorrent, and Tim May, who is the crypto Antichrist Manifesto, and of course, the one and only Satoshi Nakamoto, who gets credited for the discovery of Bitcoin. Now, Bitcoin's timestamp server works by taking a hash akin to a unique serial number, a block transactions and time stamping, and when the block is added to the Bitcoin blockchain, which we all know. And as Crypto Shama points out here, also giving credit to everyone involved with some of the early developments for the technology that led to Bitcoin. So shout out to all of them, including Max Keiser. If you didn't know, Max Keiser has a patent, I believe the first one for digital currency back in the 90s. That's all on record, fam. So this is pretty amazing. Now, the genius in Satoshi was the puzzling of these pieces into a fully functional system. According to Lop, quoting him here, there is no single piece of the puzzle that I think is more important than the others. Nakamoto's genius was not any of the individual components of Bitcoin, but rather the intricate way in which they fit together and breathe life into the system. Preach. Now, mainstream media highlighted Bitcoin's increased use by criminals, which we know is nothing more than FUD. We got Senator Elizabeth Warren, also Cynthia Lummis pushing those FUD narratives, which suck. We also know Bitcoin became a legal tender in El Salvador, which was the country to adopt Bitcoin as a legal tender, which has been a game changer for their entire country. And I feel we're going to have many other nations lead in the footsteps of Bukele as well as, you know, El Salvador in adopting Bitcoin as a legal tender. So, yeah. Happy birthday, Bitcoin. I'm wishing you another successful hundred and fifty years after these 15 years. You know, the final Bitcoin is not going to be mine, I believe, until the year 2140. Crack me if I'm wrong, but that's a very long time from now. Now, let's break down our next story of the day. Valkyrie updated their ETF filing. We all know right now all eyes on spot ETF. So let's break down this latest development. Digital asset manager Valkyrie Investments, the latest firm to amend its spot Bitcoin ETF filing with the US SEC Valkyrie filed the updated spot Bitcoin ETF with the US SEC October 30th, which is yesterday, according to the SEC database. Now check it. The updated form as one registration statement from Valkyrie Bitcoin Fund aims to offer investors the opportunity to invest in common shares backed by Bitcoin. The shares represent units of fractional, undivided beneficial interest and ownership of the trust and are expected to be traded under the ticker symbol BRRR, just like money printer continue to go kind of cool on the Nasdaq stock market, quoting them here. The information in this prospectus is not complete and may be changed, according to Valkyrie, stating in the filing, adding the firm is not allowed to sell BRRR securities until the registration statement is officially effective. The amended filing comes about a month after the SEC delayed its decision on the Valkyrie Bitcoin Fund in late September. Meanwhile, Valkyrie's updated spot Bitcoin ETF joins at least six others recently amended spot Bitcoin ETF filings made by the following Bitwise, BlackRock, Fidelity, Grayscale, VanEck and ARK Invest. And according to online crypto ETF analysts, the ongoing Bitcoin ETF amendments can be translated as a good sign, definitely a good omen, in my opinion, of the progress and impending approvals. Valkyrie's latest spot Bitcoin ETF update is yet another evidence of movement happening behind the scenes. Bloomberg ETF analyst James Safart believes, quoting him here from X Update, Valkyrie joins the prospectus amendment train for the spot Bitcoin ETF. Things are still moving behind the scenes and following the recent amendments, at least five of the rest of the known spot Bitcoin ETF filers have not updated their filing. So expect them soon, including firms like Wisdom Tree, Invesco, Galaxy, Global X, Hashdex and Franklin Templeton. The SEC currently has a whopping eight to 10 filings at the desk of the chairman, Gary Gensler. But the million dollar question becomes, will Gary Gensler do anything about this and accept any of these spot Bitcoin ETFs? Congress is putting the pressure on Gary. He says you need to prove the spot Bitcoin ETFs immediately, with that key word being immediately. There's some deadlines that are due soon, including ARK 21. I believe it's January 10th. I personally feel we're going to get the green light from the SEC before the Bitcoin having creating the perfect storm. Let's move on to our next story of the day. We covered the ETF filing. Now let's discuss a potential $50 ,000 Bitcoin rally here incoming, according to crypto analysts, Michal Benday Pop, before I break down the latest with Max Kaiser recently on the Alex Jones show. Here we go. A widely followed crypto analyst believes Bitcoin has officially entered the bull market territory and is now primed for a rally towards $50 ,000 per coin. Send it and let's go. We got Michal Benday Pop, who shared on X that the Bitcoin bull market is here. I would agree. What are your thoughts, fam? Benday Pop predicts the Bitcoin will rally as high as $50 ,000 per coin in the coming months before witnessing a pullback and surging to a new all time high. Quitting the analysts here, I think we'll see Bitcoin hit resistance at 38 Gs, baby, but most likely will continue towards 45 to 50 ,000 per Bitcoin pre having after that consolidation and sideways action for a long period before we start making new all time highs. And this is the chart which you can see here in your screen, which if you analyze it, he appears to predict Bitcoin will see $50 ,000 in January of 2024. What is that? November or November's tomorrow. So December, two months. Send it. I love it. Right in alignment with Credible Crypto, who's predicting $48 ,000 in the next two weeks. Let's go. I hope they're both right. The halving, which had historically coincided with the Bitcoin bull run, slashes the Bitcoin mining rewards, as we all know, in half, which is slated for April 2024, under six months out. And for now, Benday Pop thinks Bitcoin's in the midst of a consolidation period and a dip below $33 ,000 is still on the table. Quoting him again alongside this chart, Bitcoin technically constructing a range here slight correction towards $33 ,300 and quickly bought up if the lower boundaries are reached. Probably sentiment will flip bearish the $32 ,800, but that would signal a great long opportunity touche. Now let's break down our featured story of the day and discuss Max Keiser, who was just recently interviewed on the Alex Jones show. He was invited back. And let me share with you a little the back story, just in case you don't know the back story. Now, back in the day, maybe it was 2014, many years ago, Max Keiser, being a kind hearted gentleman, went on the Alex Jones show and he gifted Alex Jones 10 ,000 Bitcoin. I don't know the exact value of the Bitcoin at that time, but I can tell you what the value of 10 ,000 Bitcoin is in today's prices. If you run the math, that is freakin 350 million dollars. Long story short, Alex Jones claims he lost the laptop that Max put the Bitcoin on. Therefore, he has none of it. So Max being the kind hearted gentleman he is, he said, let me come back on the show now. And he actually just released this episode yesterday. So this is brand new, breaking all these predictions and everything I'm sharing with you. And I'm going to give you a basic quiz on Bitcoin, Alex. And if you can answer these five questions, I will give you another 10 ,000 Bitcoin valued at roughly three hundred and fifty million dollars per coin. And so Alex invited Max on the show. They did the quiz. Here are some of the highlights of the show I'm going to be sharing with you. However, if you want to watch it live with me, we're going to be doing a live JV react session exclusively on Rumble after the show stream ends on YouTube. We're going to be watching it together where Max is quizzing Alex and I'll be reacting live to the video. It's something I've never done before. Live reacting to these videos, but I think it's going to be phenomenal considering it's brand new content. Many of you have never seen it before. So make sure you're following me on Rumble because it's going to be lit. But first and foremost, here are some of the highlights from this recent interview. I posted it yesterday exclusively. I was the first one to post the entire interview on X. I already got over 500 hearts, 166 retweets and over fifty two thousand people viewed it. Here's what I wrote. Max Keiser joins the Alex Jones show to predict the latest Bitcoin trends and warn of the suicide bankers that will destroy the world. And here are some of the quotes regarding his predictions when Alex Jones asked them, so where's Bitcoin going to go next? Where do we go from here? Here's what Max Keiser shared. All fiat money and gold eventually goes to effectively zero against Bitcoin because it's demonetizing gold. The same way gold demonetized silver, Bitcoin will be demonetizing gold. So sure, gold will be maybe two thousand, three thousand, four thousand dollars announced. But we're talking about Bitcoin eventually going to five million to ten million dollars per coin. So you're purchasing power in gold terms is almost basically nothing compared to what's happening in Bitcoin. Preach very powerful words. And there is another quote I believe that I shared here. Let's see if I can find it. I click back on here.
A highlight from 1446: Bitcoin Will 20x Minimum This Bull Run - Raoul Pal
"In today's show, I'm going to be breaking down the latest Bitcoin technical analysis and quoting the high priest of Bitcoin, Max Kaiser. Bitcoin is the new New Testament. Adjust your thinking accordingly. Also breaking news just in the Bitcoin difficulty source to another record. Sixty two point four six trillion. That's a pretty massive difficulty. Also in today's show, the CME becomes the second largest Bitcoin futures exchange as open interest continues surging. Also in today's show, F the Regulator says SPF behind closed doors. According to this report, little did I know SPF was such a gangster talking ish about the regulators. And speaking of regulators, Gary Gensler's Bitcoin ETF position is inconsistent, according to the chairman himself, Gary Gensler, in a video which surfaced with him back in 2019. Also in today's show, Bitcoin is about to get ready for a parabolic leg up, sending Bitcoin to new all time highs. According to crypto strategist, I'll be breaking down his latest targets, as well as the former Goldman Sachs executive, Raul Powell, says retail will front run the VCs and institutions before the crypto explosion. He also predicts that exponential age for crypto amid the recent Bitcoin bull market will also be taking a look at the overall crypto market. All this plus so much more in today's show.
A highlight from 2 Reasons Bitcoin OVERPOWERS The Stock Market (Next Global SUPERPOWER)
"When do you see Bitcoin breaking that correlation and becoming something other than a risk asset, a true store of value? It's this cycle. So there's two main reasons. What's up, everybody? Welcome to another Saturday edition of the Alpha series here on Discover Crypto. We've got a great guest lined up. We're gonna be talking with Joshua Jake. How are you doing? How are you feeling? I'm doing great. Got off the plane coming to Atlanta just a few days back, you know, got on the plane at like $28 ,000 Bitcoin, maybe it was a 30K, but by the time it was off, 35K, market's going wild. People going, where's this money coming from? Is this retailers? Is this institutions? Is this BlackRock's fault? Is this not BlackRock's fault? And you know, it's just an exciting time to be in the markets for the first time in like three years. So I'm excited to be here. I mean, I can echo that. A lot of people have come in in this live. I mean, we have a huge amount of adoption over the last two years and it kind of dwindled off. Engagement dwindled off. We see that as creators on YouTube and TikTok and Instagram where we get all those metrics. So is there any sort of thought you have right now that you'd like to share with anybody, whether they're new in the market or they've been around for a long time, what's something that we need to consider with this new hype coming in? We got that God candle. Is there anything that we should be worried about? Is there any different sort of risk management we need to be doing? How do we not fall victim to these green candles and get ourselves in the wrong side of the position? Yeah, great question. I would say, honestly, the first thing is realizing that we've been lied to nonstop from our financial institutions, our asset managers, just year after year after year. How many times has crypto had an obituary? It's been like a thousand times at this point. There was actually just a recent article that showed CNBC and Bloomberg. So shout out to those analysts that have predicted the death of Bitcoin over like I think 25 times and 35 for the other. So moving into this new cycle, as we see hype come back and this life come back into these markets, it's the same vibes of early 2020 before we saw that rally into 2021. Don't chase the green candlesticks, right? venture capitalists, asset managers, banks, they don't chase green candlesticks, right? They're buying and accumulating year after year when we're in a bear market. So if you're brand new to this industry, you just see a big green candlestick and you're like, man, I should buy before it goes up further. Just take a breath, sit back and just let it find support. Just give it a moment and truly just understand what the asset you are buying actually is, how it functions, what the utility is before you make that investment decision. I mean, I couldn't agree with that anymore. You know, we talk about other people like Michael Saylor. He's become like, I don't wanna call him the mascot or the spokesman of the Bitcoin space, but he is case in point, you know, just taking it to the shoulder, taking it to the face, taking it to the back when he's just been DCA -ing nonstop. Some people call him dumb in some areas where he's buying near a top, but then you see he's also buying near a bottom. It's that, you know, time -tested strategy of buying because he sees value long -term. So how does one gain confidence when they're seeing the market swing about and, you know, to have that confidence to be a consistent buyer. But we were talking earlier, you mentioned that one of your main strategies, barring any other trading, your main strategy is DCA. So how does somebody, whether they're trading right now, they just got in or they've been around for a long time, why should somebody DCA? Why do you use that as a strategy and how can we implement that in all of our own portfolios to have more consistency and longevity in this market? Yeah, so there's two main reasons. The first one is just time in the market always beats time in the market. I think that's a historical model. A lot of people that have tracked the S &P and just traditionally traded, they follow that metric, right? You don't wanna be trying to time the bottom, time the top, just consistently average in. The second point of that is going to be just watch your local news media right now. Watch CNBC, watch Fox News, watch CNN. And not in the sense that you're gonna take and absorb information from there, but realize that every economist in the world right now that has the PhDs, has the master's degrees, has 14 books, has a $100 million hedge fund or $100 billion hedge fund, they're all fighting. They cannot compromise. They cannot come to agreement, right? Whether it's the war in the Middle East or it's the war in Ukraine or it's developments in the Pacific, people don't understand and can't figure out where we're heading in the future because we just printed $9 trillion in the last three years. So this is like the first time I think you've seen a lot of economists not say, hey, take a pause back. Let's focus on risk off assets or let's focus on risk on assets. It's more or less, man, when is the feds gonna pivot? Are they gonna pivot too quickly? Is this gonna break the wage versus wealth gap in America? Are we screwed? As a 26 year old, am I ever gonna be able to buy a home again in my life, right? These are those questions that are starting to ramp up. So off that second topic, how do I position myself? I don't care necessarily what someone that's 70 or 80 plus years old is wondering about what's going on in the market. So you just brought up Michael Saylor. He's either gonna be the next generation Warren Buffett because he makes the best trade in his life off Bitcoin, or he's gonna fail miserably. Now I like to lean towards the positive side of that because I am very bullish on Bitcoin, but that's my outlook. When I see all these economists and these people that have been managing these hedge funds and asset management firms for what, two, three, four decades at now, when they tell me that I'm wrong, that crypto is a bad investment and I see the adoption on the backend, all I go is show them the chart of the wage versus prosperity gap in America. Go to 1971, WTF, I won't say the word, but happened WTF in 1971 .com and you're gonna look at the wage versus prosperity gap. Our politicians, our lobbyists, our economists, they've been wrong for 50 years. This inflation's not stopping and it's not going to stop. So how I hedge myself is I follow something pretty similar to the 50 -25 -25 rule. What that rule is is 50 % of, this is my personal opinion, not FA, we know the rules here, is ultimately gonna be into those large caps, Bitcoin, ETH, some people like MATIC, some people like XRP, whatever your blue chips are. Personally, that's Bitcoin and ETH. The next 25 % is gonna be your large caps, mid caps, you know, you wanna diversify and that last 25 % is gonna be the VC strategy, right? You need to think like a venture capitalist coming into this space. This is the jungle, this is Wall Street 2 .0. This is no different than Silicon Valley, this is no different than the dot -com bubble. There's VCs coming in here like sharks, wrapping softwares and services in a product or a utility token and then just pumping and dumping a same product that's a copy and paste of the previous. And so for that reason, I treat it like just VCs. I want to diversify and invest into quite a few, understanding that yes, six to seven of them are going to go to zero, three to four of them are gonna break even and one is gonna hit that moon back. So I'm gonna pause you there just for a moment, just to clarify, 50 % Bitcoin and Ethereum or Bitcoin or Ethereum, another 25%, those other blue chips, we're talking, you know, something probably in the top 20, I would guess, right? Yeah, top 20, 30. And then the last 25%, you said VC, so it's a higher risk, the lower market cap most likely, are you putting all of that 25 % into one? Are you breaking up it into five, 10, 15? I suppose that might be determined on how large the capital pool is that you're pulling from. Definitely breaking up, yeah. You know, the moment you're taking more than even 5 % of your overall 100%, right? So if we have 100 % of that portfolio, you know, you shouldn't be allocating 25 % of that to Meme coins, right? Things that have no utility or products that have no fundamental value at all, like hex, right? Yes, I'm gonna take a shot right there. You know, you want to spray and pray on that because at the end of the day, it doesn't matter if necessarily these products have good utility or not. Look at Solana, it's broken down more than an ice cream machine from McDonald's. You've heard the memes, right? It's closed on Sundays like Chick -fil -A. So, you know, from that aspect, it's gonna come to that marketing. And so you, like, again, no utility, but they're gonna pump. So that's where you just want to diversify into, honestly, like 20, 30 cryptos. You know, we're talking about, you're putting 100, 200 bucks into a bunch of them. Understanding, yes, it might go to zero, but also this might be the next polygonmatic or this might be the next Decentraland Manna or whatever it is that we saw pump in 2021. You brought up a great point earlier, and I want to get your perspective on this. This is, I think, a very important consideration with Bitcoin because Bitcoin, in a lot of ways, drives the crypto ecosystem. So what happens with this narrative, I have to ask you, with risk on, risk off, currently it's still considered a risk off sort of asset in terms of you're going to typically want to look to Bitcoin when risk comes back in the market, right? Because it's high risk. So is it risk on, is it risk off? This debate about Bitcoin still being, whether or not it's digital gold, it's going to be an inflation hedge. I think in the long term it will. But I have to ask, what's your perspective on when Bitcoin may flip out of that risk narrative, where it's truly a commodity, where it truly not only trades in its own sort of sector, but also against, counter to, for instance, right now, we see the markets maybe on the cusp of breaking down, especially after the Fed pivots. Is Bitcoin ready to have a true and sustained and continual breaking of correlation with traditional assets? When do you see Bitcoin breaking that correlation and becoming something other than a risk asset, a true store of value? It's this cycle. You get a lot of talks of de -dollarization. There's lots of talks of BRICS, China, Russia, Brazil, India, South America, all coming together and building a system that's an alternative to our current currency in the United States. Now, for that reason, that's because of all the money printing we've been printing the last few years. And inevitably we've been in debting third world countries, second world countries with world bank loans. And what happens when the United States raises their interest rates and force us to not only print more money ourselves to pay back our own interest rates, because next year we're going to be paying back $1 .25 trillion annually just in debts that we owe based off our own interests. It's ridiculous. But people don't realize the impact that has on third world countries and second world countries. These countries are indebted to the United States. They have US debts, US treasuries, right? So when they're holding onto these assets, it's going to force them to print more of their own money just to pay back off the US loans that they owe, right? So, you know, it causes hyperinflation and destabilizes a lot of countries. And for this reason, you've seen a lot of second world countries, third world countries now come into play and starting to do things like in the Middle East, you had, I believe it's pronounced Oman. I could be pronouncing that Middle Eastern country wrong, but this is right on the border of Saudi Arabia. This is in that oil basin area. They're investing $1 .1 billion into converting wasted natural gas and methane emissions and that value with Bitcoin miners. What do I mean by that? Well, this is where the world's greatest commodity comes into play. You see, you know, most of the energy that's created in our world through our fossil fuels. So let's get this out. You know, Greta Thunberg was wrong, okay? You know, we need nuclear. We do need to go towards renewables, but we rely on fossil fuels. That's not going to go away. And the infrastructure that's been built out in the United States and globally, it would take us years, if not decades, to replace the equipment and infrastructure to support new energy. So with that understanding, we have all of this energy being created and you have, and I'm sure you guys have seen it, but oil fields where there's flaring gas emissions and burning off all these oil emissions into our atmosphere. Pure waste, why not harness it? Exactly, and so we're now seeing companies like Crusoe Energy, Clean Spark, and a lot of companies come together through Exxon, ConocoPhillips, even Gazprom, which is going to be one of the largest oil providers in the world out of Russia. They're all converting a lot of that wasted energy into that value with Bitcoin and that can be done anywhere. So for that reason, I think this next cycle, this is the time where we have the Spot ETFs. We've watched BlackRock, JP Morgan, Bank of America, Wells Fargo, everybody manipulate our markets for the last five years. They're calling it a money laundering index. They're saying it's a scam. They're saying it's going to go to zero. Meanwhile, the whole time they're investing on the back end and getting ready to develop what I believe is going to be the next biggest financial product ever, which is a Bitcoin Spot ETF. Joshua, it's been great talking with you. Where can everybody find you? Give us your socials. When are you going to come back? Yeah, so it's Joshua Jake on all socials. I do a lot right now. I just actually sold my personal marketing company, but right now you can find me on TikTok, Twitter, and then of course, YouTube. But YouTube, I'm actually transitioning, guys. It actually looks like I'll be here about every other week on Discover Crypto, hosting your guys' morning show and doing a lot more interviews and content like this with you guys here in Georgia. So stay tuned for some crazy announcements coming out of that. You can also find me on CRU Plus, which is going to be CryptosRS is George's new program. I'm hosting a show called Beyond the Headlines where I go in depth on your macroeconomics. I'd hag on certain presidential candidates and I just talk about the real things that need to be talked about in these markets that do affect crypto. Well, right on. We appreciate you being here and talking and going surface level and going super deep. I hope you all enjoyed that. Make sure you hit the like button, hit the subscribe button, ding the bell, join us here in our community. Positive encouragement, data -driven, trying to bring you the best, the peak and information here in the crypto markets and looking at those broader markets too. Hope you all have a wonderful Saturday. Thank you for being here with us. That's all I got. Adios muchachos. Thanks guys.
A highlight from It's Time To SELL Your Bitcoin For MORE PROFIT! (WATCH NOW!)
"Back we're in the midst of what we're going to call a bullback a bullback it's exactly what you heard it's a bullback it's a new term that we need to know for this bull market what it is it's a pullback in a bull market that's worth buying or that must be bought that's a bullback and we are now in the midst of a bullback on bitcoin in the interim while this bullback is happening we are getting our alts exploding i don't know if you guys have been following but stargate which we called on the show is absolutely exploded doge which we called on the show also absolutely exploded we're getting a whole lot of green bubbles arbitrums up 7 .69 gala's up 21 .74 doge is up 10 .98 and the list goes on and on and on my big question is how is it that the alts are performing better than bitcoin but the dominance is actually going up and i'm going to show you what that means because there could be a signal now that's telling you that while we're having this on bullback bitcoin we should probably be putting some money into alt so we will actually look at that today and i'll show you a few indicators that show that maybe it is a time that you should be taking some money and putting some money into altcoins and i'll show you potentially which altcoins the signal is actually flashing for then i want to talk about something completely different because you probably noticed this and you've probably seen a lot of influences talking about the great decoupling and what they're referring to is they are referring to the fact that the nasdaq has completely decoupled from bitcoin and for the last seven days bitcoin has been going up and the nasdaq has been going down in fact the nasdaq's had quite a a bloodbath equities are having a bloodbath so i'm going to show you what changed because something changed somewhere along the way in fact it changed around about here and i'm going to show you exactly what changed you saw it i saw it but i don't think at the time or right now we have put one and one together to show you what actually happened and why the nasdaq is going up and all of a sudden mysteriously bitcoin continues to go up so we're going to talk about that um and then while we're there i want to talk about whether if the nasdaq has a correction because a lot of people are now saying that the nasdaq could have a massive massive massive correction what happened to bitcoin can bitcoin survive a big nasdaq correction will bitcoin thrive if there's a big nasdaq correction or will bitcoin be treated as a risk asset and then we'll start going down so i want to talk about that and then there's one last thing i want to talk about today i think this pump may be a conspiracy so i have a conspiracy theory that this pump may be a pump that is created on purpose by the higher powers that be to distract us from what is actually going on and what's actually going on is really bad for bitcoin i know it sounds bad and i'm not usually a conspiracy theorist but at the end of the show i'm going to show i'm going to show you this conspiracy theory i genuinely genuinely genuinely believe that this pump has been manufactured to show us or to distract us from what's actually going on under the surface and what's going on under the surface is actually not really good for bitcoin so that's what i think so listen we've got a lot to do today we'll try and get through the alpha as quickly as possible but for now let's get the show on the road all right we are back we are back we are back we are bringing you we are bringing you um amazing amazing amazing coverage today we've got a massive massive massive show today but before we start the show i'm going to tell you something that happened to me last night when which will you hear it it will blow your mind so what happened was i went to bed last night bitcoin was at about thirty four thousand eight hundred dollars and i woke up in the middle of the night and i looked at my phone and i caught the absolute fright of my life why because this is what i saw i opened my buybit screen and i saw thirty two thousand five hundred and eight i was like holy shit what the hell has happened here you know what i was doing i was looking at the bitcoin trading bitcoin euro pair not the bitcoin dollar trading pair crazy i know i know i know um just be careful it doesn't happen to you because it can make you feel it can make you feel like the market's taken a 20 correction when the when the when when uh when a 20 correction hasn't actually happened so try try for that not to happen to you guys because not a great feeling not a great feeling um before we get on to the alpha of the shot i do want to remind you guys that we have our competition happening in banter bubbles you see we've created a a winner bitcoin bubble uh tab for you guys here um you can also get into it by going into the the bitcoin bubble just click over there if you want to win a full bitcoin it's very very very simple you need to have a banter referral link or an account at any of our exchange partners with a banter referral link any banter referral link once you do you need to predict the price of bitcoin on the first of the first 2024 at zero zero zero zero zero one on on coinbase and when you do you can actually stand a chance to win half a bitcoin if your prediction is the closest for every exchange account that you have you're going to get five entries into the competition but you can't enter more than once a week you can't enter more than once a week so when you know what your prediction is just click on ready into your prediction so let's say i think it's going to be 55 000 for example my buybit account is four five six seven eight two and i submit my prediction okay but um okay so i've got to submit my prediction to two decimal places let's submit the prediction okay please make sure your prediction is exactly two decimal places okay let's just quickly go fifty five thousand eight hundred and twenty two zero zero eight hundred twenty two point zero zero and let's submit that okay judge is not letting me submit a prediction it says i'm gonna submit to two bitcoin so um go and do that it's on banter bubbles right now so how do you get into it you go to banter bubbles click on the winner bitcoin tab and then that'll take you into the prediction josh is just fixing the prediction first not having a good day today josh my sound didn't work and my bubbles didn't work not looking good not looking good anyway listen let's get on with the alpha of the show first of all if you're not already subscribed to our channel do that now before we continue do that right now if you are subscribed just smash the like button give us some some love let's get the show on the road let's see if we can get to 1500 likes i do want to show you my conspiracy theory i do want to show you and i want i want to hear your views on my conspiracy theory i do also want to show you um why it may be time to start buying alts i want to show you about i want to talk about this decoupling because this decoupling is actually real and i want to show you what actually caused this decoupling because when you see what caused it you'll say ah i i knew exactly what it was and now it all makes sense and then we can work out whether or not the market can survive a stock market crash if we actually get a stock market crash so that is what we're doing today for now let's get the show on the road let's quickly go into the charts let's look at this what's happening in the charts as i said to you what we're doing it right now is we are consolidating we've had a as i said it's a slight bullback exactly as i said it's a bullback what is a bullback a bullback is when you get a slight pullback that is very very much worth buying and that's pretty much how you've got to look at these pullbacks in the bull market it's a consolidation we are consolidating right here but what you're probably noticing in this consolidation is that a lot of people made a lot of money on bitcoin and what you're probably noticing is that the altcoins are starting to pop so you're getting the bitcoin dominance going slightly down but very much it is on the way up and then what you're getting is getting the altcoins rallying i mean just look at this week for altcoins most of the good altcoins have destroyed or obliterated the bitcoin performance hex is up 130 percent uh mina protocol up 73 .5 percent injective up 43 percent pepe up 96 percent chain link 50 percent up so this has been an amazing amazing run for altcoins it's been an amazing run for our altcoins dogecoin stargate i did show you show you all the ones that we actually got into some in the competition and some not in the competition um but what you're seeing is you're seeing that the dominance has come slightly down and even the dominance is very very very much on an uptrend you are seeing a big move to altcoins i'm going to show you why later on the show i'm going to show you why it's probably a good time to start putting some money into altcoins i'm not saying go crazy and sell all your bitcoin but put some money into bitcoin i also want to remind you that a few days ago we a lot of people are talking about the halving and they're saying that this cycle is going to be this pre -halving year is going to be like previous pre -halving years and i said to you what you've got to do is you've actually got to pick a fighter you've got to pick a fighter your fighter is either going to be the etf or the halving cycle and the reason why i said that is because if we follow the halving cycle theory then in theory we should continue to go down until a little bit before halving and that's usually when we break out but i said to you that i don't think that's going to happen i said that what i think is going to happen is i think the etf magnet is way bigger than the than the halving magnet and i think this year is actually going to be different because what we're getting is we're getting the etf news which is much bigger than the pre -halving sell -off that usually happens and it's going to change the way that the cycle plays out and what we see now is that everyone's starting to notice exactly what i said it says bitcoin is starting to do something completely different to what it did in 2019 at the same point in the cycle you can see that over here you see there's there's a breakout over here so that's what that is the cycle that is actually starting to happen and i think i'm much more a believer in this cycle that says that it will have we have 750 days to go until the next cycle high which which is which yeah so from now we've got 750 days to go until the next cycle happened actually if you want to talk about cycles the biggest cycle that i'm actually subscribing to and i did do a show about this a long time ago i said that uh the biggest cycle that i'm actually subscribing to is this cycle over here which shows that from 2023 so this this was done in the 19 in the early 1900s and um it was uh it's called the benna cycle predicted most major downturns it was published in 1875 150 years ago and it's it's been pretty accurate and what it says is from 2023 you will make quite a bit of money till 2026 but then get out in 2026 and buy in in uh in 20 uh and buy again in 2032 or something along those lines look i plan to be well retired by the end of 2026 and i think if we play our cards right we'll all be well retired by the end of 2026 so then the rest of this cycle thing doesn't actually matter it actually becomes a whole lot of garbage i see yuri's back we haven't seen yuri here for a long time yuri welcome back we haven't seen you for a long time actually let us know if you are present gabby says the etf is his fighter call it's a good day mate that's a good day mate iCP will make millionaires i'm not sure if iCP is going to make millionaires uh blockchain oh Raymond is here Raymond's present Marvin is present Raymond can't jump into the back end anymore because we've changed our system so we don't actually see him in in the back end anyway let's talk about something a little bit more important and that is the decoupling that the that bitcoin has had from the stock markets and specifically that decoupling happened or started not so long ago i would say that if you were to guess let me know how many days ago this decoupling started but i think it started about two weeks ago right and ever since two weeks ago what you've seen is you've seen something very interesting play out you've seen the nasdaq pull back in fact yesterday was the nasdaq's worst drop of 2023 and yesterday was one of the most bullish days for bitcoin right at the same time you have the nikai crashing which is a Japanese market selling but i want to show you if you look at the nasdaq since the friday the 13th of august the nasdaq's down seven percent at the same time if you look at the nikai the nikai is also down about seven percent which means that global equities world markets not doing very well right and if you look at what's happened to bitcoin which is this orange line over here you've got like this strange decoupling because these guys have been pretty well correlated up until something happened around about there and i'm going to show you exactly what happened round about there i'm going to show you how powerful this is and what this actually means for bitcoin right when you get it just say aha or just smash a like or just let us know that you've actually got it what you definitely know is that there has been a decoupling i mean you can't deny it i mean the charts are basically showing you that there has been that there's been very much a decoupling and in fact if you zoom out in this decoupling what you can see is that somewhere over here look at the date monday the 16th of october there was a breakout which gave bitcoin huge strength against traditional markets and from that point traditional markets started to go down and bitcoin started to go up now you may say well that must be as a result of the war possible could be because of the war the war however the first invasion was on the 7th of october right so what is it that happened on the 16th of october that made bitcoin completely completely completely outperform the market and could this be a sign of what is about to happen i mean everyone's starting to see it there's been a lot of tweets that are going that are going on here um showing people that actually something happened and bitcoin has decoupled bitcoin up 33 percent nasdaq down minus seven percent very interesting short -term decoupling um we're also getting some uh big trouble on the market so the yesterday was a very very very bad day for the tech stocks google had its biggest move down i think since its ipo or something it had a huge move down this we could just go to the google chart um let's take a look at google let's see google ah man hold on a second i think they changed the name to alphabet there we go so let's look at google so yesterday if you look on the daily well you see it doesn't show you the red candles but if you look at where it came from and where it started went down 10 .36 that is massive massive massive uh for google and now there's a lot of concerns that these magnificent seven are going to start crashing if you look at nvidia nvidia also not really a pretty picture so it's gone down from 475 to 421 in just a matter of days and there's big concerns that the nasdaq is maybe entering resistance or maybe entering some kind of crash territory and the magnificent seven stocks may be starting to come down people are saying look there's maybe been uh head and shoulders or maybe just a series of higher lows either way from a chart pattern um not not very good that's that's what yesterday looked like on the traditional markets and yesterday we know that we had on bitcoin one of our um one of our best days or certainly the last couple of days that have been some of our best days so what actually happened well the first thing that actually happened is you can see it in this three months so you can actually see what actually happened it was around here october 17th see there we go and you can see that a few charts start to turn october 17th bitcoin starts to go up gold starts to go up and ethereum starts to go up versus the nasdaq and the s &p which actually start going down so where did that happen just look at the date because the date's quite important october 16th that's exactly when it happened so on october 16th something happened which took the gold market up and took the bitcoin market up and took the stock markets down and changed the correlation between here's how the markets are doing and the traditional assets so you can see this chart we always look at this chart and it shows the correlation between bitcoin and certain assets okay now you can see that these lines have always been very very very correlated until very recently where bitcoin started to become more correlated to gold then it started to become two stocks okay so why what happened on the 16th of what happened on the 16th of october that changed that what happened on the 16th of october that all of a sudden bitcoin started to start being correlated to stocks and start being correlated to gold and if you can work it out maybe that's a sign for what bitcoin is going to do in the next coming days weeks months years so let's look at what actually happened well one massive thing that actually happened on this day scarecrows do you know what happened on the 16th of october 16th of october something happened somewhere on or about 16th of october what happened well that's the day that larry finke went on television and says that he thinks that crypto is a flight into quality that is the day where everything changed literally if you go back to all the charts the correlation this was posted on october 16th this rally is way beyond do we have sound we don't have sound today is about a flight to quality with all the you know i'm not hearing it around the war now global terrorism and i think there's more people running into a fight the quality this flight to safety whether that is in treasuries gold or crypto depending on how you think so this flight to safety discussion this flight to safety tweet this flight to safety interview this flight to safety narrative all started on the 16th of october and from the day that that started everything changed now i know you probably think well no it's completely coincidental i don't think it's coincidental i don't think at all that it is coincidental that specifically on the day that larry finke who is the world's biggest asset manager or he leads up the world's biggest asset manager i don't think that it's a coincidence a coincidence that on the day that he says that bitcoin is a flight to safety on that day the correlation between bitcoin and all other risk assets starts to change and bitcoin starts to become much more correlated to gold than to any other risk assets the king has spoken the head of the biggest asset manager in the world the one who creates all the investment narratives went up onto stage and said from this day forth bitcoin is a store of value it's a flight to safety which stocks are not and from that day we've got bitcoin much more correlated to gold now if we get that then we should maybe consider something which which is quite interesting so gold has a market cap of 12 trillion dollars okay bitcoin has a market cap of six seven hundred billion dollars okay when we have the halving next year the stock to flow ratio changes and gold is very much priced using a stock to flow ratio if you're going to price bitcoin on a stock to flow ratio after the halving then according to this we should get a market cap of 20 trillion dollars or a million dollars for bitcoin i think that that's a bit ambitious but it does show you that if larry think changed the narrative if larry think went out there and changed the narrative then then if people start pricing this like gold then we need to start applying gold valuation methods to uh to to bitcoin and you can see that the date is freakishly october 16th which is absolutely crazy i think i also had another tweet that i wanted to show you so i wanted to show you tweet over here which shows that if you look at bitcoin as an asset class performance in 2011 bitcoin was the best performing asset class the second was gold 2012 best performing asset class 2013 best performing asset class 2014 worst performing asset class 15 16 and 17 best performing asset class 18 worst performing asset class 19 2021 best performing asset class 2022 worst performing asset class, okay Now I remember when you were kids and they used to give us those puzzles and they say like What's the next part of the pattern here? So what is scarecrows? What is the next part of the pattern yet? So we had three Positive best best performing asset one worst three best one worst three best one worst What happens in 2024 and 2025 into the halving years and into the election years? Two more best and then what happens in 2026 when by the way when this cycle here says that things are going to turn The next bear market starts do you see how all the pieces are starting to come together? Do you see how all the pieces starting to come together here? Anyway, you choose how you want to see it regardless though We can see that when Larry Fink opened his mouth even though here in in in crypto We just thought that was great and him talking up his book He actually maybe maybe maybe he's the reason why things changed specifically on that day I mean, I think that that was the big endorsement that made all the fan managers realize that you know What maybe this thing is actually a flight to safety.
A highlight from Coinbase on Crypto Regulation & National Security | INTERVIEW
"All right, today we're going to dive into crypto regulation, what the landscape might look like, especially in the current times with ETFs looming, with all the things we're seeing, especially in the house here recently with the new speaker. All of this needs to be broken down, I think, by some experts in the industry that I think are going to be very interesting to listen in on. So you don't want to miss this one. My name is Paul Baron. Welcome back to Tech Path. All right. Joining me today is Faryar Shrizad, who is the chief policy officer at Coinbase, leading companies engagement with policymakers around the world. So Faryar, welcome to the show. Thanks for stopping in. Thanks, Paul. Thanks for having me on. Let's get into a couple of topics here, and I want to go into tokenized assets and what that is going to look like, especially from a regulatory framework. I was just looking at a post here by Circle, and this was really about how tokenized assets are going to make their way onto and with in combination with USDC and what's happening with Circle. When you look at the framework of regulation now, obviously we're already struggling, I think, with just general regulation. What are your thoughts on how, especially around tokenized securities, how this will make its way through the ranks of the House and the Senate coming up, hopefully in the next year or two? Well, the way you frame the question is actually really important. There's a broader momentum moving towards the tokenization of a full range of assets, so financial instruments, but also real world assets as well. And all you have to do is take a step back and you'll see it. I was down in Brazil last week meeting with officials there, including at the central bank, and they have a really clear vision of pervasive tokenization across the economy. And they see their role as the central bank as to use regulation and government measures, including bank regulation, bond issuance, and the like to catalyze the process of tokenization. In the US, we're taking more incremental steps, starting with what you alluded to, which is federal legislation around the regulation of crypto intermediaries. Now, obviously, in the US, that's a hugely important step and one that we at Coinbase are spending enormous amounts of time to get right. But one of the things I try to do, and I know a lot of my colleagues try to do as well, is we try to make sure that we all remember that the end goal is not the regulation of crypto intermediaries like Coinbase, although that's a really important step. The ultimate end goal is to make sure that the US has the right policy environment for tokenization across the board. It's going to happen. We're in a bit of a period of turbulence as the first big breakthrough legislation potentially gets through. But there's a bigger vision much beyond the regulation of central intermediaries that's ultimately in front of all of us as a society. For sure. And we're going to get into some of that, I think, just in the future of the United States, especially around innovation and just in general, I think, even national security. And we'll talk about that here in a moment. But I want to stay on the focus of where the growth of the industry is starting to, for the first time, I think, you know, I've been following this for several years and now it feels like D .C. is actually paying attention to what's happening, which is great. Whether or not we get a full reign of understanding is still questionable. I want to jump to one of your colleagues, Paul Graywell. Of course, there are all arguments coming out here in the motion for judgment now being set for early January. This is the big Coinbase case that could be another loss for the SEC. When you look at it from a policy guy's side and you think, wow, all of these losses are piling up against the SEC, we've already seen continuous situations roll out all the way from Ripple and many others. What does that do to the policy makers? You're out there talking with these guys all the time. Are they watching this and kind of understanding really what's happening in the courts? Oh, absolutely. And the observation actually goes both ways. I think the courts are typically will take notice when Congress is stepping in to provide guidance or clarity around an area of legal uncertainty and courts become respectful and deferential to what they see in terms of congressional action. But to your question, Congress also pays attention to what the courts do when they're struggling with an issue that ultimately requires resolution by the political branches. In this particular context of digital assets, you've had the SEC chair saying multiple times that he actually initially started saying he needed legislation to regulate crypto assets. And then after eight, nine, 10 months or so, he flipped and he said, no, no, he had all the authority he needed. And now we've had about a year and a half of the courts and all of us who've engaged with the SEC testing out that new version of the legal framework that he says he has in terms of having all the authority he needs and having three cases in the district courts go against the fundamental theory that he's put forward in terms of regulating the crypto markets and then having another one to finding his decision making with regard to, in the case of Grayscale, on another crypto matter was arbitrary and capricious. Lawmakers know that. They watch it. They see it quite closely and they understand that it raises real questions that the courts are being forced to try to deal with, but also fundamental questions regarding the strength of the SEC's theory in terms of how they intend to try to exercise oversight over the space. And that's, I think, helpful in moving legislation forward, which we're excited about. So, OK, so just for our viewers and listeners, understanding you spent some time at Goldman Sachs as their global policy lead. You look at it from and that's being traditional finance. Now you're on this side of the fence in the sense of I think what I think will eventually be qualified as traditional finance as well. But the point being is that you feel that this industry, how big of a hill do you think we have to really climb? You've seen it from the tradfi side. Now you're seeing it from this side of the fence. Is this something that is insurmountable? Is it something that you feel is going to happen in the next couple of years? What's your feeling of what you've seen? You've worked with these people on both sides now. Well, what I would say is our glass is way more than half full. When you're in crypto, particularly for people who were around it for a long time, there's a lot of reasons to be down in the dumps, particularly if you're in the United States and you see some of the behavior out of the regulatory agencies, it just seems beyond any fair application of law. But I always try to remind myself to take a few steps back. One to remind myself that 83 % of the G20 countries have or are in the midst of implementing sensible crypto regulation. We as an industry like some parts of it, we don't like other parts of it. But generally speaking, the entire rest of the developed economies are all moving forward to adopt crypto and embrace it through their regulatory systems. That's an example that the U .S. cannot ignore for much longer and will drive U .S. policy making at some point, maybe not quite yet, but it'll happen sooner than you think. The other thing is that there's a handful of crypto critics. Now Elizabeth Warren, Gary Gensler, a few of the regulators that Warren has a lot of influence over, were being very tough on crypto. I deal with members of Congress and the House and the Senate, and we are lucky in crypto not to be like almost every other issue in Washington, which is partisan and tribal. We have a lot of allies who are Democrats, and we have a lot of allies who are Republican, and we have lots and lots of members who just are beginning their crypto journeys, beginning to figure out how to pay attention to this. Our starting point is much, much better than a lot of other industries have. In traditional finance, you can't barely take a half a step one way or the other without triggering kind of old battle lines that have nothing to do with the merits of the issue on the table, but just have to do with certain political camps in Washington or against the banks. If the banks advocate for declaring that the sky is blue, they'll be against that. We don't have that in crypto as much as we feel that we're picked on at times. We're in a much, much better position, and the onus is really on us to kind of pick ourselves up, go into every member of Congress and every other policymaker and make our case. I think when we do that effectively, we change minds and win hearts and win allies. I feel very good about that. OK, so there's really kind of two major factions that are not only injecting change right now, but also could be part of the future in a way, whether you're a pro personal finance or you love the idea of anonymity in crypto or the idea of freedom of being your own bank, all those kind of things can work. But now this time around, in terms of this cycle, we'll call it, we're seeing the first real introduction of institutional capital. And not only that, we're also seeing the introduction of traditional finance, meaning big banks. You look at obviously what's happening with Fidelity, but then you bring in all these ETFs coming in from BlackRock, et cetera, along with a lot more funds. You look at all that and you consider, all right, this is kind of the realization of where crypto is going. I was just looking at this tweet right here. This kind of brings my question home from Balchunas over here at Bloomberg. And he was breaking this down by interest level from millennials. This even surprised me in the terms of where millennials were interested in terms of investing. So ETFs there, which most likely could start to see some movement, especially in the next year. How are lawmakers, because this is all the voting block, I mean, really coming at them at full force, how are lawmakers really understanding the kind of movement that we're seeing, both in TradFi now, as well as the world of crypto? Lawmakers hear about this everywhere. I mean, they hear it among their staff who are often maybe two or three steps ahead of them on crypto adoption. They hear it at home, among family members. Sometimes there are kids who are on the front end of crypto adoption. We've done polling on this. There's about 52 million Americans, 52 million Americans who have bought crypto. That's more people than have union cards, more people than have electric vehicles. We're not a niche issue. We're mainstream in terms of the breadth of interest in crypto. And this is still at the first or second inning of crypto's adoption. And now, as you said, we have institutional interests coming in. And so, crypto will, I think, better be seen as it should, as a technology that powers the democratization of a lot of applications. And there'll be a lot of different entry points that people will want to come into crypto. So for sure, we've all seen the retail token trading, the exuberance of the markets when they seem like there was no way but up, and people got into it, and obviously, the market crashed down. But this is typical of the early stages of development of any financial asset. And now, you've got institutional interests. You've got these ETF applications, of course, but you have other institutional entry points that people are looking at. And I think this will begin to demystify this industry and show that there's a very comfortable diversity of options that people have, regulated and unregulated, to enter the cryptosphere. And our job is to have these use cases become demystified in the eyes of policymakers so that they embrace the full panoply. I mean, one of the risks of institutional adoption of crypto is that it almost makes some policymakers who aren't paying a lot of attention to this think that you no longer need decentralized solutions or smart contracts. And I think that's a point I was trying to make a second ago, which is you want to be able to have the full diversity of the crypto toolkit available from a public policy perspective. And that's why you'll find Coinbase active on DeFi issues, on smart contracts issues, on mixer issues, on institutional derivatives offerings, on being a part of the solution that ETF applicants are providing to the SEC, because we want that whole scope of what crypto can do to be in front of both the markets and policymakers. Okay, so good news is that obviously the policymakers are starting to get enough of signal from not only the markets, but also people that are really understanding where this future is going. Now you get into the real policymakers that make sense. This of course was Tom Emper steps away, obviously as speaker. This would have been our dream crypto guy, I think, I feel like anyway, it would have been one of the top ones I would have selected, but at the same time now we've got Mike Johnson in here. So Mike Johnson, not necessarily heavily experienced in the essence of as a speaker obviously now, but as a lawmaker in general. How big of an impact is this on the crypto community now? I know we've got Patrick McHenry kind of out there leading the charge. You still have a lot of pro -crypto, pro -blockchain innovation lawmakers. Will this make much of a difference with Johnson now in the lead as speaker? Well, the speaker has a lot of issues on his plate, or Nancy Pelosi did when she was speaker as well. And so however pro -crypto a particular speaker may be, they still need to get the budget done. They need to get appropriations built through. They need to get the whole range of things that they have to do just as a matter of their constitutional responsibility. So Mike Johnson doesn't have a track record on crypto, but I'm confident given the allies that we have, committee chairs and senior members of the Republican caucus, that we're going to be in a very good spot with this new leadership. The thing that I do pay attention to is the speaker election process that the Republicans went through has delayed the timing of when the FIT21 bill potentially would come to the floor. And I think that's a more immediate issue. So we've been lucky that the politics, I don't think, have shifted much and our Democratic allies are with us, notwithstanding a lot of the fireworks that you saw in the context of the speaker sort of drama. But the more tangible thing that I pay a lot of attention to is just the timing issue. How far back have we been pushed on the calendar? Do we have time to get FIT21 up on the floor? And how are we going to use that time most effectively to win allies, get people to come onto the bill and get a good vote ultimately out of the House? So obviously with FRER, we've got the stablecoin regulation also coming into the House and potentially going through. With that statement that you just made, if we miss this window, what does it look like from a landscape standpoint into next year? When could we see possibly regulation come back to the forefront? Well, in terms of legislation, I think I would say the thing about legislation having done it for many, many years is you never know. And I always find I talk to people who analyze the landscape and tell me with great confidence that it's hard to pass legislation this year, next year is a better year and so on. And at a certain level, that may or may not be true. But in a way, legislation is more about maximizing what you can control and not worrying about the stuff that you can't control. And so yes, in principle, next year is an election year. The Speaker embraced, delayed things. Things are pushed back. As you get closer to the election, things get slower and slower. And there's a hundred sort of factors of that sort to think about and why 25 might be better than 2024 and so on. But I can't control any of that. All I can control is making sure my Coinbase team and all the industry partners and trade associations that we work with are not for one half a second taking their foot off the gas pedal and not using every minute available to us to go in to talk to every member in the House, Republican, Democrat, progressive left, conservative right, and making the case for crypto and then simultaneously turning over every rock in the home districts of members who we don't have on our side yet and finding constituents who are here and bringing them into the debate as well. And that's part of the reason why we started the StandWithCrypto .org organization is to get that grassroots dimension into the mix. And once you think of it in that way, there's a lot we can control. And today is a great day to move legislation. And the leadership will ultimately decide when it goes on the floor. But we're going to make the conditions as strong as possible. So when they make that decision, we have as many allies as possible to get the bill through with bipartisan support. A couple of things I want to hit on here, because, you know, we've already seen the idea of what Choke Point was. Now, what we're starting to see is is other aspects of of, we'll just say, mainstream media starting to take jabs at crypto. This was just some recent hits on it. Of course, you're one of your colleagues, Paul Graywall, here hitting on the journalistic mistakes by The Wall Street Journal. This was in reference to potentially funding into terrorist groups. So the idea is kind of pathetic when people really understand blockchain because this is the worst thing you can use out there. And then you've got Brian Armstrong, of course, your CEO. This is crazy, inaccurate, et cetera. This was, of course, them. They issued a correction to the data. And now we're starting to actually see there was a hearing, I think, yesterday. We're actually starting to see data come out, you know, from on chain analysis. My question to you is this is The Wall Street Journal. I mean, next, it could be Axios. Next, it could be The Hill. I mean, there's just so many opportunities here for mainstream press to become a major hurdle, whether they don't understand it or there's other nefarious actions at work here. How are you guys planning to kind of fight that battle? Because that I feel like that's one of the bigger battles to that is waging right now. My education, I think, is just, you know, engaging, meeting the reporters. Just like you would meet members of Congress where they are, regulators as well. Each of those audiences are a bit different in terms of how you approach them, but they're not different in the sense that fundamentally you just want to bring facts to the table, a narrative around why crypto matters and then just be compelling in terms of speaking to them in a language that they understand. I mean, I would say on reporters, you know, there are a lot of reporters that gave Gary Gensler a huge benefit of the doubt in terms of his theory of the case on how he intended to regulate the crypto markets. You've had three district courts now repudiate the core foundation of his theory of why the SEC should treat virtually every crypto token as a security. Now, these are three district court cases. And I suppose, you know, our case might be the fourth one. We'll see ultimately where they all land and that will be appeals and this, that, and the other. But in the end of the day, even reporters who, you know, at times you think, well, gee, I wish they would tell the story a bit differently, with time ultimately begin to see where the facts lay. And you'll see, I think some of the reporting is becoming a little bit more thoughtful in terms of, you know, asking the second and third question of the SEC. You see that in the courts. Typically, the SEC had huge deference in the courts in terms of decisions it would make. You see now the courts kind of saying, particularly the Grayscale case, what the court found did a complete comprehensive assessment of any basis of argument that the SEC was relying on for denying the Grayscale application. And they repudiated every bit of it, which they didn't necessarily needed to do. But in the end, they found that the SEC's decision -making was arbitrary, capricious, and unlawful. That is on the outer edge of the worst thing that can happen to you as a person who's running an agency. And I ran an agency in an earlier administration. If I had a court finding my decision -making comprehensively to be arbitrary, capricious, unlawful, I would wonder if that was sort of the end of my career. And those sorts of things have huge import. As much as a particular regulator may try to brush it off and think it's just sort of, you know, information gathering, these things have impact. And I think they'll have impact on reporters, just like you're just an impact reporting over the longer term. So I feel like we'll do fine. We just need to keep at it. Keep the education coming. To your point in reference to the regulatory scenario with the SEC, this was from Caitlin Long and it was referencing Hester Pierce talking about the SEC reopening Howie just to kill crypto wasn't necessarily the SEC's best interest. And that's my point. I mean, now you've got Gensler up here, obviously aligned with Senator Warren. When do you feel like there's going to be just too much political baggage or weight on Gensler that will continue to see this pushback? Because and I have two points of interest here. One is killing innovation and the other is national security. Let's forget just the idea of what crypto is, but this is real. We've already seen it worldwide. When do you think that D .C. will finally say, OK, enough's enough? I don't know. I mean, I can't speak to Gensler's motivations specifically, but there are lots of political figures that we all see in the paper all the time or on the news who are solving for a very narrow purpose. You see it in the Congress and they're solving for a particular constituency that they're appealing to. And whatever chaos ensues is somebody else's problem. It's not their problem. And again, I'm not speaking to Gensler in particular, but I think we've all learned that there are different members and different policymakers and different politicians who are just interested in speaking to one constituency. And if they don't speak to the rest of the country, it's just not really a concern. And I think whether Gensler is like that or not, whether he's solving exclusively for Elizabeth Warren and not for the public good, I don't know. But, you know, likely his term is up by the end of this coming year. And, you know, we'll see who's next. And in the meantime, do our best to stick up for ourselves in court and help members of Congress on both sides of the aisle who want to get sound crypto legislation done. And I feel like that's plenty for us to focus on. Yeah, for sure. Let's say, OK, you have a chance. You're here on our channel, so you get a chance to talk to a lot of people. What are some of the things that business owners, investors in crypto, people who are just general curious about what's happening in blockchain? What is the best thing they can do right now to kind of secure this future? Obviously, I'm going to show the Stand With Crypto page. Because we've pitched this quite a bit about calling your congressman, getting involved with your local community, letting people kind of know where you stand. But is there other are there other steps that could be taken? Yeah, I appreciate you putting that up. So I would encourage everybody to go to StandWithCrypto .org. So StandWithCrypto .org. Right when you get on your landing page, you will see these three images. And it's a very cool functionality. You can you can click the phone icon, you can click the email icon. And it will put you right into calling your member of Congress. You just have to put in your address. They'll figure out who your member of Congress is. If you're doing an email, it will through AI technology, essentially through a customized chat GBT functionality that we have. Write a letter for you. You can guide the parameters, edit it if you want and send it directly to your member of Congress. And if you do that, you would be surprised how huge an impact that has. I used to be a staffer on the Senate Finance Committee. I worked for the chairman, very powerful guy, very powerful committee. As a staffer, I had a relatively powerful position. My boss was from Delaware. My chairman was from Delaware. And if somebody from Delaware called, even if they hadn't really thought through their position on whatever they were calling about, or even if it didn't have anything to do with my job, by goodness, I knew my boss insisted that I listen to them and hear them out and follow up as necessary. And this is so people in Delaware had a superpower over me when I was a staffer on the Senate Finance Committee working for a Delaware Senator. And everyone out there who's listening to this, you have a superpower over your member of Congress, much more formidable than you ever imagine, much more powerful than a tweet, much more powerful than an op -ed. It's just simply to call your policymaker. And we give you talking points if you want to have help on that. You'll see on there, the sandwichcrypto .org page has a link for this crazy IRS proposal that's out. And that is formidable as well. So I would encourage people to do that. And I appreciate you giving me a chance to alert people to that functionality that's available to them. Last point, because I'm not sure a lot of people know what the IRS is trying to propose here, explain that in a nutshell for our audience.
A highlight from Bitcoins Most EXPLOSIVE Bull Market Ever Is Coming! (Here's Why)
"Last week, on October 16th, we watched Bitcoin jump from just below 28k all the way to $30 ,000 in less than 10 minutes on the release of a fake report by Cointelegraph. That fake report was going to be the BlackRock ETF apparently finally launching. Then late Monday night on October 23rd, we saw prices absolutely destroy resistance and hit $35 ,000. All of this explosive price action has come from an excitement about the incoming Bitcoin ETF. It has gotten a lot of people interested in the prediction of what will be in fact happening when these ETFs are finally approved. Now while no one can give the exact number of when the bull market is going to top, in this video we are going to be diving deeper at the surrounding circumstances as well as how much money could actually flow into Bitcoin's price action to help you better understand just how significant these ETFs are and why this bull market just might be the most explosive one yet. It's time to discover crypto. Now before we get too far, let's make sure we lay the basis of what an actual ETF is. An ETF is a publicly traded investment vehicle that tracks the performance of an underlying asset or index. This is different from a stock because stocks only track the price action of one company. ETFs are a popular way for investors to get exposure to the value of an asset like gold or oil. They usually trade on traditional stock exchanges and their value should rise and fall when the asset increases or decreases in price. Now the first ETF launched all the way back in 1993 and they quickly became a popular way for investors to invest into a basket of assets all at once. More than likely you have heard of this ETF, it's called the S &P 500. When you purchase the S &P 500, instead of buying shares in 500 separate companies, the singular ETF lets you gain exposure to all of them combined all with one purchase. While we have had Bitcoin futures ETFs for a while now, which allow investors to trade future price action of Bitcoin, the news is currently flooded with stories about Bitcoin spot ETFs. A spot ETF is where a centralized entity like BlackRock purchases a large amount of Bitcoin, but then allows other investors to use the stock market to invest in Bitcoin at specific price and also take profit. But the Bitcoin would always belong to BlackRock, not the investor. Effectively, you could invest in the price movement at Bitcoin at any given price immediately without having or ever worrying about actually holding that crypto yourself. If you ever heard of the phrase, not your keys, not your crypto, BlackRock is essentially going to be holding and purchasing all of your crypto for you. Now for those of you who are currently holding Bitcoin and have learned about the advantages of self -custody, you might be asking why wouldn't the masses as well as the institutional investors just buy their own Bitcoin? Well while it seems like that should be simple, it actually can be a little complicated. While I personally would always advocate for self -custody, there are a couple of reasons that somebody would prefer an ETF. One of the biggest reasons is going to be just because of regulation, but they also may just not want to have to deal with the risks that come with and all of the burdens of self -custody ownership of a spot Bitcoin. An ETF would be approved by regulators and managed by a firm that would buy and hold the Bitcoin on their behalf. So they have nothing to worry about at all. In July of 2013, the Winklevoss twins with their Bitcoin trust filed for the first Bitcoin ETF proposal ever in the United States, yes, 10 years ago. It was rejected along with every other subsequent proposal for years. Then came along the ProShares Bitcoin strategy ETF and that became the first Bitcoin futures ETF available in the United States on October 19th of 2021. The purpose Bitcoin ETF used the trading ticker BTCC and made its debut in Toronto in early 2021. According to its issue purpose Investments Inc, this ETF invest directly in physical slash digital Bitcoin. And that's where things stand of as today. As I said before, there is a Bitcoin's futures ETF available on the US market, but not yet a spot Bitcoin ETF. But if the SEC does and has approved a Bitcoin futures ETF that claims to be investing directly into Bitcoin, then why hasn't it approved a spot Bitcoin ETF just yet? Well, that's the question. I think it's shocking that we don't have a better answer to that question. Nobody really knows. There have been a lot of applications, several rounds of frustrating congressional testimony by his ugliness, Darth Gensler, the vague. But none of this has actually ever yielded anything concrete other than a reluctance to allow Bitcoin to further integrate into the existing financial system. Now, Gary Gensler, everybody's favorite human being, got his start at Goldman Sachs. And there has been a lot of speculation that Gary Gensler wants to become the secretary of the Treasury after Janet Yellen. This would allow him to do the bidding of his old buddies on Wall Street. In other words, he's deliberately stalling while trade five bankers scramble up to catch up and bring the market centralized options to compete with Bitcoin. J .P. Morgan, for example, deployed its JPM coin for corporate clients in Europe in June of twenty twenty three and has been rushing the rollout of its onyx coin systems to the market. Now, no one can actually say for sure, but from the outside looking in, it sure seems like something corrupt is going on somewhere. I mean, it's never like JP Morgan's committed market manipulation in the past. Now, the SEC is currently reviewing applications for spot Bitcoin ETFs from the likes of Blackrock, Wisdom Tree, Invesco, Galaxy, Wise Origin, Vanick, Bitwise and Valkyrie digital assets. They recently delayed all of these again, but they are going to have to either finally approve or deny many of them by March of twenty twenty four. Oddly enough, this falls very close on the calendar to the estimated date of the next Bitcoin halving, which is currently projected to take place near the end of April twenty twenty four. And even more interesting, during a panel discussion on ETFs at CC Data's Digital Assets Summit in London, former BlackRock managing director Steven Schoenfeld, and I don't know if I'm butchering that name, who now serves as the CEO of Market Vector Indexes, predicted that the US SEC will approve a spot Bitcoin ETF within three to six months. Another ex BlackRock director, Martin Bednal, now CEO of Jacobi Asset Management, speaking at the same time at the same event, said that he also believes the SEC will approve all of these Bitcoin ETFs together. Now, this is to avoid any signs of market manipulation and make sure that BlackRock's not looked at as the favorite from the SEC. But if the approval of all these spot ETFs syncs up with a 50 percent reduction in a new issuance of Bitcoin, that could provide the basis of a very powerful bull run, a huge drop in supply, combined with a vast amount of new capital entering the Bitcoin market and generating demand. But how much demand? How much are we really talking about? And how much would the price actually move? Well, the combined market caps of these firms is around seventeen point eight trillion dollars. Yes, that's a lot of capital. The assets under management and all of this is hard to capture exactly because companies like Vanguard, State Street and BlackRock all have leaders who sit on each other's boards and they all effectively own each other in some way or another. Now, this makes it pretty hard to precisely estimate. However, going back to Stephen Schoenfeld, who may have mentioned before, says that his into Bitcoin, specifically into investment products over the next three years. Now, Bernstein estimates that the crypto fund management industry will grow to over five hundred billion dollars of assets in the next five years. And then there are lasered eyed maxis like Michael Saylor who think that Bitcoin is just going to go to infinity. So what's realistic to expect in terms of inflows and how much would that move the price of Bitcoin? Well, again, this is tough to say. But in March of twenty twenty one, Bank of America published a research note with some interesting observations on the subject. They claim that, quote, Bitcoin is extremely sensitive to increased dollar demand. They claim that it would take at least two billion dollars worth of inflows to move the price of gold by one percent and over two point two five billion to move 20 year plus treasury bonds by one percent. Thank God we print money. But Bitcoin was much easier. The analyst said, we estimate a net influence of Bitcoin of just ninety three million dollars would result in a price appreciation of one percent. He also added, looking at detailed block chain records, we find that the largest addresses have not been selling in aggregate since the beginning of the pandemic. That was back in twenty twenty one. And since then, whales have continued accumulating and supply held by long term Bitcoin holders has hit an all time high. So the supply of Bitcoin is still decreasing and Bitcoin is still very sensitive to increased spot demand. So let's have some fun and do a little bit of moon math. If we're looking at investment firms with a combined total of seventeen point seven trillion dollars of assets, let's say that they move just about one percent of that money into spot Bitcoin. That would be about one hundred and seventy seven billion dollars worth of new capital inflows into spot Bitcoin using Bank of America's estimate of about 90 million dollars to move Bitcoin up one percent in price. That would mean that in one year, the price of Bitcoin would rise a little bit over nineteen hundred percent. Now, at today's price levels of about thirty four thousand dollars per Bitcoin, a one thousand nine hundred percent increase over one year would put Bitcoin comfortably over the six hundred and forty thousand dollar price level. That to me seems wildly bullish and way too high. And I want to emphasize that there's a lot of estimation and assumption going into that calculation. But there is no guarantee that these spot Bitcoin purchases are going to be market orders and directly impact that price. And there's no way to know how much selling might be done once these numbers start to run up. Still, though, there's no denying that the mass approval of spot Bitcoin ETFs, combined with a new Bitcoin halving, would bring about a huge increase in demand alongside a huge reduction of supply, very similar to what we saw in 2004 November when Gold launched their ETF in the November of that year. That's just what I think. Let me know down in the comments how you think all of this is going to play out. Will the SEC approve a spot Bitcoin ETF or continue to keep them shut out of the market? And how much money do you think institutions are going to be bringing into Bitcoin once the ETF actually gets approved? Or do you think secretly they're already accumulating? That's all I got for this one. Make sure to smash that like button and subscribe to the channel to keep yourself educated on all things crypto. That being said, I'll see you all at the top.
A highlight from 402 Tech Tools and Billionaires
"Hello, everyone. Welcome to episode 402 of the She Podcasts podcast. I am your co -host Jessica Kupferman with me as always, the lovely Elsie Escobar, who I think is wearing, is that a SpongeBob t -shirt? No, it's not. But that's a SpongeBob bod though. One of my favorite podcast upgrade. Oh, it's very dongle town, USA, Thunderbolt dock. Did you say dongle town? Yeah. I love that. Have you ever been to Intercourse, Pennsylvania? I have. No, I have not. In Lancaster, on the way to Lancaster, maybe right after, there's a series of towns, Intercourse, Bird in Hand, Blue Ball, and there's another one. They're all, I don't know why, they're all oddly sexual and yet they're named by the Amish. So it's weird. But yeah, Intercourse, I assume, means the intercourse of two roads. But it's Intercourse, Pennsylvania, which how can you not have a t -shirt that says Intercourse, Blue Ball, Bird in Hand? Like there's, oh, Paradise. Anyway, altogether, they tell a story. When you're 12, it's hilarious. You know, when you're 12, it's like, I need the t -shirt immediately. Yes. Anyway, I was just curious. OK, well, let's get started. We have something fun to talk about with you guys today. A new social media app. Can you believe it? I cannot believe it. I'm having a hard time believing it. And I listen. It has gotten now by the time when this comes out, I don't know how many people are going to be on it. But as of now, there's over 100 million. So it's not a small over one million small. If you consider that there's six billion people in the world. Well, yeah, but not in terms of social media. Like how many people are on, I think, six million Facebook. No, six. No, I can't remember how many people are on Facebook. Two point nine five billion billion. I knew it was. All right. One third of the world. Yes. Billion. Wait, two point nine is actually half half of two point nine five billion billion. So, yeah, 100 million is like, but it's like five days. I know in five days. Is that the fastest growing? Yes. Is it faster than Twitter grew? Because that was the fact. Yes, because I don't think like, yeah, for sure. When it first started, it grew like in an alarming rate. Yeah, but not to 100 million. Yeah, I guess that's true. It's neat in some ways and not. You haven't even mentioned what it is, though. I did. I said it's a new social media app called Threads. And then we started talking about how many people. Oh, I missed the called Threads part. So, yes, it's called Threads. I know Elsie wants to tell you all about. OK, Jenny says the world population is eight billion. Oh, sorry. Thank you. I'm glad I know that. OK, so three is like a little under half then. All right. Thank you very much. That's pretty amazing. Because that's like a lot it is. So, yeah. So so Instagram has come out with a new a new social media channel slash meta has right. Meta has it's a meta it's under the meta umbrella. And it is basically a Twitter replica.
A highlight from Bitcoin Lightning Network is BROKEN! w/ Paul Sztorc | BTC Layer-Two's Ranked
"This is going to be a good one. My name is Paul Baer. We'll come back in the Tech Path. What we're going to try to do is line up what's happening within the ecosystem of Bitcoin. Obviously, Bitcoin is flying right now with some news, albeit the fake news on ETF. But at the same time, we'll see a lot happening from the macro perspective. And you know that's kind of what we cover here on the channel a lot. But we wanted to dive into the complexities of what's happening inside Bitcoin as a platform. And I think that's the thing that a lot of people lose track of is, can Bitcoin be used for payments? And if so, what would you use? I want to go to a clip that shows our guest today talking at the Bitcoin conference to some of the developers within the Lightning Network to kind of frame it in the sense of whether or not Lightning could be used. And if you look at this conversation, he pretty much the destroys issue of what Lightning is standing for. And this is why I think it's important. So let's go to this first clip. They said that if they could get a 1 % or 5 % boost to revenue by adopting drive chains, they would do it in a second. But the problem is - It won't be 1%. It would be 10x, 100x, or even 1 ,000x. Hang on. Let's be clear, though. There is a misconception there. I asked you what the problem with this idea was. You just said that you mixed up L1 and L2, and you said that I don't like miners having control over the L2 withdrawals, even though they already have control over the Lightning Network justice transaction. So it's exactly the same thing. Well, again - We're in this weird odyssey on miner costs. Merge mining the side chain is essentially free. Hey, hey, hey. They don't even need their own node. They can just - That's just categorically false. No, they give 51%. The hash rate can censor the justice transaction. The problem with Lightning, though, of course, is that even the proponents don't expect 8 billion people to be able to use it. Whereas with this, they could. So that's a pretty big difference. The tech people don't agree with you on that. This is a silly discussion. Go read the blog post I just posted. You may not care about a certain thing, like the EVM or something, but other people care about it. And you may not care about large blocks. This isn't about what other people like. It's about their ability to choose. All right. So, of course, that's Paul Stortz, who is the CEO of L2 Labs. And welcome, Paul Stortz, into the show today. Great to have you back. Hey, thanks for having me. All right. So, obviously, we showed a little bit from the Amsterdam Bitcoin Conference your engagement there with the Lightning teams and some of the developers out there. And this is some of the things that we've kind of talked about here on the channel in general. And when you look at what Lightning and what you're trying to do, Paul, with L2 Labs and sidechains, if you can kind of give our audience a breakdown of the inefficiencies of Lightning versus an alternative and what would that be? Yeah, I mean, I like the Lightning network, but what has happened was because of the scaling war, the Lightning network is like an idea that has collided with the Bitcoin culture and damaged it a lot. Because people in Bitcoin are very insecure about Bitcoin's future, they need to tell a story where Lightning is going to fix everything. And, you know, it might be true someday, but the current idea, the current version of the idea is not it's just not the case. So the Lightning idea is a good enough idea. The key insight of the Lightning network is it's kind of like a six degrees of Kevin Bacon or whatever it is where. So it's like maybe I have a channel with you and you have a channel with someone else. And so then maybe I can pay them through you. That's the idea of the Lightning network. And I think unfortunately, it's probably not going to work out for a couple of different reasons. But the bigger issue is that the Lightning network is like this meme that has collided with the Bitcoin community and everyone just people just start talking about it. And unfortunately, they stop being honest with themselves. It's out of my own concern for them that I started speaking up sort of against it. They're suffering, I think, psychologically, many of them. It's not quite as bad as something like Theranos or whatever. But it is like there's this big difference between what the marketing people say, the people on Twitter who don't use Lightning. They say a certain thing and then they're in the back room trying to make this the blood machine work. Right. The Lightning network history here over time. All the way back to 2021. You can kind of see it's a bit of a stale platform in the sense that we haven't seen a lot of growth within it. Obviously, some news here recently with some security concerns. Can you kind of explain the security concerns that were revealed by some of the developers in the market? Yes, I will explain that. But first, I like your graph and I want to point out something. The most important thing about the graph is something that hides in plain sight, which is that at maximum, it's only 5000 coins, basically. And there's 19 million coins. So this is like 0 .02 % or something. So we see where no one is. So it's very small. And then people try to make arguments about, oh, well, maybe there's a coin in there that turns over like millions of times a month. Blah, blah, blah. You know, that's a bunch of cobalt. So now to your second point, there was recently a vulnerability in Lightning. It can be fixed, but in order to fix it, the people, the current problematic people in Bitcoin, the bad people and the bad guys, they have to admit that they were wrong about something else. So it's unclear when these two malicious, we have saving Lightning and then we have admitting that we still need more soft fork op codes. Because the vulnerability is that you, someone, when thing the times out, it's still possible to use either of the two paths. So one person pulls the payment from you and the other person uses the timeout. And now the person in the middle is left having routed a payment, but they get nothing. I tried to get this idea popularized in like 2019, that the idea of channel risk, that who you open the channel with makes a big deal. But yeah, I think this is not a great bug. I wouldn't be routing any payments for anyone else personally until the bug is fixed. And looking at that. Yeah, I want to go to, because payments are a big part of this, I want to go to this next clip right here on Bitcoin payment potentials. Listen in. What do you think, Rene? Like, do you think that we can get to a point where even like the first attempt that someone makes that tries to make a payment should work? So I think that will hardly be possible without severely changing the protocol. So this is the way how the protocol is designed. So payment failures, or at least the failures of attempts, are built into the protocol. The question is, what can we do about this? Do we have suggestions on that? What you could do is you could basically say, well, if I have enough liquidity, let's do five of them concurrently and let's hope that statistically at least one arrives. But then the question is, if we do it in the current protocol, if two arrive, somebody could claim two payments and then you would overpay. You don't want to do that.
A highlight from Bitcoin Rally Not Over | $32,000 Next
"All right. Is the rally over? Is Bitcoin starting to face a new wall or is this the breakthrough that everybody's been looking for? We're going to try to get into all this good stuff for you guys today. My name is Paul Bera. Welcome back in The Tech Path. Before we get started, if you guys have never checked out our Market Sentiment Index, make sure and jump over to PBN. You can just go to Paul Bera Network and find it. It's right there. One of the things we do on the MSI is we break down a whole variety of tokens. You can go into the dashboard. This will, of course, measure sentiment, gives you a full blend of both TradFi sentiment as well as crypto sentiment. We even jump into NFTs and also TA. So we've got a lot of additional content over there that you guys can check out. Make sure and just, when you go to PBN or Paul Bera Network, all you have to do is click right there at the top, Market Sentiment. I'll show you some examples of that here in a bit when we break down Bitcoin. Let's get into it today, though. I want to jump over to the first tweet right here, and this is Peter St. Onge. This is a very interesting statement he made right here, and I shouldn't say him, but inflation in effect is a hidden tax. The money that people have saved is robbed part of purchasing power, which is quietly transferred from the government that issues new money. This was by Thomas Sowell. If you've never listened to Thomas Sowell, just search his name on YouTube and go listen to some of his talks. He's probably, I think, one of the best economists out there in maybe our lifetime. Very astute into understanding money, but more importantly, understanding the cycles that start to happen here. And that's really what we're going to be breaking down today. Is this a cycle for Bitcoin and other digital assets that could be starting to really roar while we're starting to see that turned down in the traditional markets? All right, so I want to go over to this first clip right here. This is the first time Jerome Powell seemed a bit doubtful listening. For the first time, you have Jerome Powell, who has had never been doubtful as to what he did, even though he has been sometimes wrong on expectations of inflation and interest rates, finally said in his Economic Club of New York talk, as well as in the Q &A session, that he did not know what is causing the higher bond yields. He attributes that to term premiums. The term premiums are not measurable. And therefore, essentially, the Fed chairman comes down to saying, I don't know what it is. And when he said that, I said, we are in completely unchartered territory. Things are going to get worse next week because of the fact that the Fed is totally out of control and they don't know what to do next. All right, so this is a very interesting statement. Fed's totally out of control. Don't really understand the course to take next. This tweet kind of breaks it down a bit more. Feels like a mildly risk off day. Stock futures are down. Copper price is down. Ten -year Treasury yields are about to cross the 5 % threshold, a move that once again challenges the idea of debt as a haven in times of weakness. So this has been the kind of the talking point that's been dashed around Wall Street over the past two to three weeks. And a lot of people have looked at this and said, OK, these are the indicators. These are some of the things that could really start to take the market into a very interesting position, much like what the clip we just played. Kind of no man's territory. I want to go to this next clip because it'll start breaking down the things I think that will help you guys get a bigger understand of when QE might take place. Listen in. Whether it be a huge bank failure, whether it should be pension funds losing a lot of money, commercial real estate suddenly worsening or a CLO, commercial loan market and levered obligations having difficulty, somewhere things are going to break and rather than expecting three to six months, I'm going to say within the next four or five weeks. Just look at last March to give yourself an indication. We had three small regional banks which failed and immediately quantitative tightening ended and quantitative easing was put in place. We took the fed assets back to November of 2022. We set it back by five months. What I'm saying is if that incident could do that, anything like a bigger crash taking place in the next two to three months is going to completely reverse monetary policy in terms of both interest rates and quantitative tightening. And yes, within the time period that you mentioned, it's clearly when I think it will happen 2024 is going to be a year of lower interest rates and clearly a much more easier fed than we have seen so far. All right. So with him making that statement, the question will be when those interest rates actually get started in terms of a pivot. And I look at these statements here, especially with some of these economists that are looking at this from more of a global perspective. And then you look at this current rally that is currently underway right now. Look at Bitcoin. This is a good example of just the sentiment data coming up here from around the 13th. And all of a sudden, you know, Bitcoin is moving. And it's very interesting because now we've got amplification and top line sentiment kind of moving in unison where we were seeing a little bit of a separation here over the past 30 days with Bitcoin in general, meaning it was kind of flat. So with this being the case and to his point, the analyst's point is are we maybe just three, four or five weeks out from a real problem in the market, whether it is new data on the real estate industry or some of those things that could really be those things that have been lagging for a little bit of time here and start to truly break, which would definitely cause the Fed to cause a bit of a, I think, an about face. Still don't know if that's going to happen. I want to play a clip here by Raoul Pal on his consideration of what a recession might look like. Listen in. I just wasn't that bearish and the market had priced it in last year, which was the big thing to me. It's like, you know, when ETH bottomed in June, Bitcoin, the rest of the space bottomed in October, that was like, it's all priced in. We've got it all in. But you said you think we will have a small recession, as in it's still on the horizon. Yeah, it doesn't matter because the markets are looking forwards. So it doesn't matter. Everyone's like, I want my recession. I want my 50 % sell off in the S &P. You're not going to get it. You had the mild recession sell off last year. That's what we're going to get. All right. So two points there from those two clips, one, catastrophe is about to happen, catastrophe. And then Raoul's point, which is this is going to be a little bit softer. But yet at the same time, remember, these assets start to move first. And this is something we've talked about here on the show quite a bit, is that these early market moves are when we're starting to see the tail end of other downstream. Now, when we see the tail end, there's that last little push that we've seen so many times in these cycles before. The economists still believe that that's going to happen with traditional markets. Raoul is counting on the other side that maybe that liquidity has already exited. And we've already seen that. The question will be, is that the limit of liquidity in the market? Or will there be one last push which could push people into gold and Bitcoin, in which obviously we've seen both gold and Bitcoin flying over the last 30 days. So it's a very interesting time. But when you think about crypto outperforming, because in reality, if you look back at the first of the year to where we are right now, I mean, come on, guys, these risk assets have been outperforming everything on the market. Listen to this clip. Why crypto outperforms is really simple. It's got a faster adoption curve. It's a technological adoption story. Everything else is noise. It's technology plus debasement. NASDAQ is the second best performing asset. Why? Technology plus debasement. People who invest in their 401k and the S &P passive index, they never get ahead. Because property goes up, and gold goes up, and all of the assets go up the same amount. So you're just not making gains. NASDAQ and crypto have been the only two assets that do it. So an interesting point there to his issue is when you look at even the S &P, outside of the Magnificent Seven, has been down for the year. You put those in, and those seven stocks alone in the tech sector, mostly tech, have been able to salvage what's happened on traditional markets. And I would agree with Raul in the sense that innovation and technology, because this is really a tech move, and we talked about this, Web3 is about to shift everything. We're going to see digital assets truly come to light in the United States under some new regulatory guidelines. So all of this is good. Now the other things you have to look at is where is this pump coming from? If the market is really down, why are we starting to see Bitcoin moving along with some of these other key assets? Here's a post by Koby Easey talking about the events in China. A little bit happening right now. Obviously we know about Evergrande, largest tax cuts since 2008. That's another big one. Let me kind of zoom in on that for you guys. Interest rates now lowered on $6 trillion of mortgages. That's another major. Could you imagine that if you had an arm and you start to see lowering interest rates right now in the market we have right now with 8 % interest rates? Unexpected rate cuts, most since 2020, and then bank run begins at Bank of Shenzhou. And then, of course, bank cut deposit rates for the third time this year. Government plans another new stimulus package. This is more liquidity going into the market. So could that be the factor in Asia that is starting to push Bitcoin into another local high, possibly beating the one that we had back in July? So there's a lot happening globally, especially when you think about what's happening just from a macro standpoint in Israel, Ukraine, etc. All of this is coming to a head, and it's winter. Energy prices are going to rise. What is going to happen here in the next step? Here was another. This was from Eric Balcumas talking about the ETF front. BlackRock is stating their recent spot ETF amendment that they are ceding the ETF in October. So that tells me something. Don't want to read too much into that, but if this new info is not original filing, so noteworthy, especially with BlackRock, this is a good one because this tells me they're Remember, we've talked about this with the ETFs in the past couple of weeks, and that is first mover may not necessarily win this one because there's going to be so many available. It's going to be the best marketer. So ceding it is a very interesting strategy, I think, that BlackRock is taking. Here was John Deaton kind of going in on this in reference to the ICC. Couple points here. They've capitulated on the spot Bitcoin ETF approval before the end of the year, or certainly before the end of the first quarter. Or the SEC is gathering more information during these discussions to come up with a different reason for denying it. I don't know. He's not putting it number two past Gensler because Gensler just has such a bur in the saddle. But I think with other things happening in the house with possibly a new speaker and also all the pressures that we're seeing globally and what we're seeing in the markets right now, I think Gensler may have seen his last denial. We'll see how it goes. I want to play another clip here of Hester Pierce. This is also going to kind of shake you a little bit. Listen, maybe the SEC is now more open to approving one of these types of funds. Is it? I can't I can't say whether or not the commission is is ready to approve a Bitcoin exchange traded product. I've been thinking we should approve one for the last five years so that the logic for why we haven't has always mystified me. I can't guess as to my colleagues approach to this topic. You spend time with them. You talk to them. Do you see any shift in terms of that type of thinking, just even generally speaking? I really can't speak to what we're going to do on the Bitcoin exchange traded products. I can say that generally the agency has not been very good when it comes to anything related to Bitcoin or other crypto assets. I guess the question is, should the public take anything away from the fact that a black rock or a fidelity is applying for these things, that that somehow is validating this space in a way that perhaps maybe some of the smaller firms that had applied for such types of funds earlier did not. People have to be careful about trying to read the tea leaves of what agencies are doing. And I'm not going to I'm not going to contribute to that. I'm just going to say that, you know, obviously we're seeing more and more interest from firms in these products. And and I hear a lot of interest from investors in these kinds of products as well.
A highlight from Ben Cowen's Ethereum Prediction WRONG?!
"What you'll notice is that every time Ethereum made a rally to new highs, it did not happen until Ethereum went home first. Home is the lower regression band, right? Go home, new highs. Go home, new highs. Go home, new highs. Still got to see ETH go home, my friends, and it hasn't happened yet, so I think that it will. The Ethereum bears are out in force, and predictions about Ethereum hitting new lows are coming fast and heavy. Even Ben Cohen, one of the brightest minds in the crypto world with top -notch analysis of the markets, is saying that it's all red candles coming for Ethereum. But even in his own words, he does not get every call correct. Well, in a recent video about Ethereum capitulation, I actually found two points that Ben used that are faulty arguments. In this video, I'm going to break those down for you. It's time to discover crypto. I'm sure there are many of you who are watching at this point who think I'm crazy to question the great mind of Ben Cohen. And some of you might have no idea what I'm even talking about. For those who have not seen his video, I highly recommend you go give it a watch. Ben gives some pretty bearish targets for Ethereum price using the Ethereum over Bitcoin chart. And while I actually agree with most everything he says, as well as his predictions about how far Ethereum could drop in price over the US dollar, there were two points that he used as support in this video that I believe missed the mark. If you are excited to hear what those two arguments are, make sure you take a second and smash that like button and subscribe to the channel. Now, I do have to say, over the last couple of months, I have found the charting that Ben and I do to be quite similar, and often find our predictions to be extremely close. Ben and I have both received backlash for our predictions that Bitcoin dominance would approach the area about 60%, that Cardano would see new lows, and that the altcoin space as a whole is just not ready for a significant bull run. Yet. The reason for this has a lot to do with the fact that at this point in the four year cycle, it's not time for alts or Ethereum to gain dominance on Bitcoin. But rather, with one more solid capitulation, crypto dominance should flow into Bitcoin. Ben Cohen is one of the best at breaking down former movements in the charts to show consistent trends that help predict future movements. That is why I was so surprised when I heard him make these two mistakes. What are they? In the video, Ben seeks to explain why Ethereum could be ready for a large crash, and heavily uses the Ethereum over Bitcoin chart to back up that theory. This chart is an amazing tool to help get a clearer picture of how Ethereum will perform along with the Ethereum over USD chart. But the problem is Ben uses the wrong time periods, and because he's using the wrong time periods, the crash he is predicting is much lower than it should be. Take a look at his first argument. One thing that we should discuss is this thing. And I told you guys a long time I thought this was going to break down to the downside. We said this I don't know how many times. And it looks like it is. It's already on a regular scale. It looks like this is breaking to the downside. Now the formation you're looking at is called a falling or descending wedge. More often than not, these patterns normally break to the upside. However, there are times that the support line is broken and price action falls. But this should not come as a surprise. It should not. We have talked about this likely outcome for a long time. It's the exact same thing that happened last cycle. And I distinctly remember people saying the same thing last cycle and saying, oh, well, you know, this is a bullish descending wedge that breaks to the upside. Right? Everyone said it. A lot of people are calling for it. And guess what? It broke down. It broke down. Okay? And it broke down pretty hard, in fact. I mean, there was not much relief in this drop. From this drop, this started on July, you know, mid -July. Did you watch those dates? He's comparing the falling wedge of October of 2023 to the falling wedge of July of 2018. Those dates are very important. It was almost down only with a few green days, but it was almost down only for two weeks straight. And then after two weeks, we got like a, you know, a few days of a pump from like August 3rd maybe to like August 6th or 7th. You know, four to five days of relief, followed by from August 7th to September 14th. And you're talking about another four to five weeks, basically, where it was just dropping every single day. Ben uses the drop of 2018 to compare a potential drop coming in the next couple of weeks. And this is where he thinks we will fall. In that range, I think it's much more likely that Ethereum eventually makes its way down to that 0 .03 to 0 .04 range, meaning it goes below 0 .04. Okay? Below 0 .04. Which from this level, it would mean Ethereum dropping another 31 % against Bitcoin. You know, I'm not talking about USD yet. We'll get to that later, right? But I'm talking about against Bitcoin, another 31%. And if it goes to 0 .035, which I think is a likely outcome, it's a 39 % drop. 39 % drop. This would be a wild crash for the Ethereum over Bitcoin chart. But if we repeat the falling wedge of 2018, then this is absolutely doable. The problem, though, is that using the falling wedge of 2018 is the wrong comparison to make to the one happening now in 2023. Why? Let's look at the charts ourselves. So these are the two time periods that Ben Cohen is using to compare current price action to former price action. And while it's tempting to believe this could be true, let's take a look at the dates of the time period. If we go back over to this first one, back in 2018, we're looking at the time between May of 2018 and about July of 2018. This is very important because, again, remember we want to heavily use the four -year cycle. This means that that price action actually doesn't correspond to 2023, but rather a cycle similar to 2022. Well, what happened in those time periods? Sure enough, just like it, we had a big crash right back here in May of 2022 into June, right? So it's not quite a perfect four -year cycle, but it's right along the same time period. What he's using right here is this falling wedge that broke out to the downside and then continued to crash further into September of 2018. The problem is it's the wrong falling wedge. In reality, we actually could look at another falling wedge pattern happening right here in the year 2019. Let's go ahead and just draw a little bit of what we see happening right here and I'll show you why. Instead of looking at a falling wedge of 2018, we really should be looking at this falling wedge right here back in the year 2019. You guys can see right here, similar to what we're doing in 2023, we did develop a nice falling wedge pattern with lower highs and lower lows that were constricting. And even right here in August of 2019, we broke below the support level, even came back up, if I were to zoom in for you, and turned that level back into resistance before we faked out, came back up into the formation, and ended up moving to the upside. This is actually a much better time comparison to the falling wedge that we're currently looking at right here as we're looking at the date of October. October 16th is actually the date we're shooting today. Now, again, we have fallen below the falling wedge and I heavily expect for us to move down possibly even as low as down to the .049 level. Bitcoin dominance will increase, Ethereum dominance will decrease, but to fall all the way down to .035 that Ben talks about in this video, that's a little strong and it's using the wrong falling wedge time period instead of using the one in 2019. But this wasn't the only faulty timeline. Let's take a look at mistake number two where Ben is comparing the distribution phases. You have your first initial move in 2016 and then a double top distribution phase in 2017 and 2018. So you have 2016, 2017, 2018. Here, we had 2020, 2021, 2022. I'm arguing that this move is similar to this one and that this distribution is similar to this one. Ben is using distribution phases to back up his prediction of the 39 % drop of Ethereum over Bitcoin. For those who might not know what a distribution phase is, the simple way of describing what you are seeing is that the price shoots up to a high before selling off and then makes one more push to a similar range to take profits one last time before selling off hard. 2017 and 2018 is a perfect example of this, but once again, we have a little bit of a timeline discrepancy that gives a faulty prediction. Let's go back to the charts. So let's identify the different peaks that Ben talks about in this video. These phases right here where we had the pre -bull market rally and then our distribution phase. And then he takes a look again and looks at our pre -bull market rally and then goes and puts these two peaks right here as our distribution phase. There's a problem with this, though. Let's look at the dates. And remember, we're talking about a similar four -year cycle type of scenario. This first pre -bull market rally, we're talking about March. You can even stretch it all the way to May of 2016, right? Well, let's move it over here. We're talking about a little bit late, but September is the first time in 2020. You also can look back here at March. We're really kind of looking at this as this being the similar time period of our pre -bull market rally. We had one extra one that happened in January that probably could kind of correspond to the one that happens in March of 2020. This is a good call. I have no problem with this part of the comparison. Where I do have a problem, though, is when we move up into this distribution phase. Let's look at the date right here. June 12th of 2017. The second one we're looking at in about January of 2018. These do not correspond to the two peaks that Ben uses in his video. In reality, we actually are going to see this peak right here. Again, June of 17 corresponds right here with May of 2021. Our second peak in the distribution phase happening right here in January of 2018 will correspond with December of 2021 when Ethereum hit an all -time high. These marks are not the same. In reality, the second distribution phase that Ben talks about, or in this case it looks like a third one, happens in September of 2022. Now, this isn't going to be a perfect timeline, but that has a lot more to do actually with a dip all the way down here before the falling wedge starts. This little dip right here in May of 18 actually should correspond right here to May of 2022. Now, this might seem confusing, but I'll explain why this makes sense. In September of 2022, this is the mark where Ethereum flipped from being a proof -of -work coin to a proof -of -stake coin, so the charts of the four -year cycle have completely changed. Instead of back of June and July in 2018 leading to a massive crash, Ethereum flipped the script where the June -July dates actually led into a rally. This further backs up the point we made before that we actually see the falling wedge being the perfect time period back in 2019 as it is today in 2023. Ethereum flipped the script and instead of crashing, actually became bullish during this time period in the four -year cycle. Now, with all this being said, these are just two of the large arguments that Ben makes throughout his video. He goes on to discuss a sub $1200 Ethereum and gives amazing evidence for it. It actually changed my original prediction of closer to a $1300 Ethereum to where I now agree with his prediction. But it's because I agree with his Ethereum prediction and also agree with his Bitcoin prediction of dropping below $23 ,000 as well that it further backs up the point that the Ethereum over Bitcoin chart will not fall to the levels of .035 that Ben discusses in the video. If we were to see the Ethereum over Bitcoin chart fall to 39 % as Ben talks about in his video, we have to correlate this to what would happen in the Ethereum price action. For this to be the case, Bitcoin would need to stay exactly where it is right now at the time of shooting at about $28 ,500 and Ethereum would drop 39 % in its price action which actually would take the price below Ben's target all the way down to $979 give or take. But that wasn't Ben's prediction. Ben actually predicts a level right here below $1200 somewhere in the range about $1150 all the way down to $1100. This right here is why his prediction doesn't necessarily line up. But even more so, with his prediction that Bitcoin more than likely is going to be dropping below $23 ,000 coming down into maybe this box right here at least, this would be a drop of Bitcoin price over 20%. Well, going back to Ethereum, this means we wouldn't just stop right here in this box dropping 39%. We could drop even further and this would be marks of brand new lows. That's not the prediction that Ben made, but if we hold to his prediction on the ETH over Bitcoin chart of seeing over a 39 % drop in this chart, we're going to also have to predict if Bitcoin drops down below $23 ,000, Ethereum is going to go much lower than his prediction of $1100. So there you have it. Ben, if you are watching this video and disagree with my take, I would absolutely love to have you come on Discover Crypto and explain why your points do in fact still stand. For the rest of you, let me know down below what your predictions are for both Bitcoin and Ethereum and what you would like to see videos on in the future. That's all I have for you in this one, but make sure on your way out to smash that like button and make sure you are subscribed to the channel for more crypto education content just like this. We will see you at the top. Receive compensation of at least $20 per hour at select stations plus benefits and a sign -on bonus of $2 ,000 from participating DSPs if you apply now. No delivery experience required. Must be 21 years or older. Terms apply. Apply today at Amazon .com forward slash driver. That's Amazon .com forward slash driver.
"two points" Discussed on Northwest Newsradio
"More than twenty two point six million viewers watched the jets beat the bills and songwriter singer fiona apple is forty six today jason athenson abc news well here's something the kids are gonna be asking for this christmas okay maybe not but maybe you will barbara streisand has two new albums on the way the first album is called evergreen celebrating six decades on columbia records celebrating the singer's sixtieth anniversary with columbia featuring two twenty songs that were selected by streisand as her favorites the second album is called yentl fortieth anniversary deluxe edition celebrating the fortieth anniversary of the soundtrack to the stress and directed film gentle both set for October twenty seventh is it finally time for barbie's sidekick to go from being just to the national toy hall of fame Mattel introduced that doll in nineteen sixty one and was brought to life by ryan gosling in the barbie movie among twelve finalists being considered for induction this year he's up against some tough competitors like baseball cards battleship bingo bop it cabbage patch kids choose your own adventure game books connect for little tykes cozy coop nerf slime and teenage mutant ninja turtles good luck ken an update from ABC News is next can you guess what part of roof replacement contractors get wrong the most believe it or not answers attic ventilation Jim Singletary chief roof nerd here from roof smart attic ventilation requires the proper balance of air intake and exhaust getting this balance right is tough which is why many roofers mess up attic ventilation or skip it altogether that's a huge problem a poorly vented attic can develop rot and mold in the winter and actually get hot enough to cook your shingles in the summer voids the warranty too at roof smart we get attic ventilation right when we inspect your roof we
"two points" Discussed on WTOP
"In three hundred and two point six million it means i'm doing more we do in buoy on doman w t o p news coming up in money news after traffic and weather mortgage rates are high and now they're getting harder to yet i'm jeff clabel it's five oh eight decision a seat to not for only actually it's six oh eight five oh eight central time traffic and weather on the it's let's go to dave dill dine in the w t l p traffic center all right you're losing time regardless of what time in zone on you're i -66 delays from 50 past 123 the crash on 66 east of chambridge road road was initially blocking the left lane but they're gonna consolidate that on the right shoulder in short order westbound rubbernecking they never found a crash west of centerville although they might still be looking there was one reported beyond exit 52 uh rollover crash unfortunately on 234 dumphreys road was blocked north of the dam and the bridge for lake jackson the aquaclon creek at lake jackson drive southbound traffic should be able to get by but slowly under police direction 95 southbound slowdowns are minor through woodbridge and stafford county beltway congestion persists near the american legion woodrow wilson in maryland portions are still slow like on the interloop over connecticut avenue and through greenbelt 270 northbound slow through gaithersburg clarksburg 95 bw parkway the slowdown start is lengthy beltway to beltway but we're still fighting with congestion on both routes both ways route 50 delay free through buoy through annapolis and and across the chesapeake go electric the fits way looking for an electric car try the new hunday ionic toyota 64x for the id4 by vw state and federal incentives available get your next car at fitsmall .com i'm dave dildine wtop traffic seven news first alert meteorologist steve rudin with your forecast through the remainder of the evening hours passing clouds winds will settle down temperatures move into the seventies with winds from the west just around
"two points" Discussed on Bloomberg Radio New York
"Cancer join us as we light the night find your local event at the night dot org that's light the night dot org the possibility of lung cancer can be pretty scary especially if you're one of approximately eight million current or former smokers at high risk that's why saved by the skin dot org wants you to know that now there's a breakthrough low -dose CT scan that can detect lung cancer early and it only takes sixty seconds you stop smoking now start screening for easy quiz to see if you're eligible visit saved by the skin dot org it could save your life saved by skin dot org is brought to you by the American Lung Association's long force the new deal created American infrastructure that unreached new opportunity today doing it again with massive investment in modernizing our infrastructure to build for tomorrow at build America Mutual we protect your municipal bond investments that help make it happen building a vibrant future for our communities and your portfolio invest in the future of America with BAM insured bonds this is Caroline Hyde and I'm ed Ludlow join us for Bloomberg technology a daily podcast focusing exclusively on technology innovation and the future of business we bring you the latest headlines from tech top companies and conversations with the industry's biggest decision makers we will have to show our own productivity gains privacy is a hugely important issue it's extraordinary what chip technology can achieve the Bloomberg technology podcast every weekday subscribe today on Apple podcasts Spotify or at Bloomberg .com Bloomberg radio on demand and in your podcast on the latest sound on podcast I talk with political analyst Amy Walter from the Cook political report for an early look at the 2024 electoral map two points
"two points" Discussed on WTOP
"In april fell to two point six percent the serious delinquency rate those ninety days or more behind fell to just one percent that's fifty percent higher than that ago a year the d c metro's foreclosure rate is just three -tenths of a percent jeff clable it he'll be news money news brought to you by the washington metropolitan area transit authority this july fourth hit it's a free ride with metro metro buses and trains are free after five p m bring the whole family and celebrate say no to traffic say yes to a free ride after five coming up on w t l p girls county deputy say twenty old -year bryce brown broke into lows in waldorf stole the forklift and rammed it through the store's gates just well have that coming up here on w t o p and just ahead of the break we just want to say happy independence day to you from everybody here at now five eleven in washington here's a highlight from matthew gee abode the product development director for global security products division at lidos on the cloud exchange sponsored by lidos i think from our perspective of uh the the concept of continuing to adopt cloud native architectures and microservices based approaches uh... lends itself well to future proofing listen to the entire discussion on federal news network search cloud age your mission priorities drive digital modernization plans not the other way around at light house we build from your priorities and ensure modernization creates mission capability ongoing efficiencies adaptive resilience and continuous transformation count on us to deliver secure technology at scale and speed to better enable your mission today and for years to come learn about our approach trusted by valued customers around
"two points" Discussed on 790 KABC
"Leo Terrell hosts Leo two point Oh, live at five. Make Ingrid luck a bit more bearable. Afternoons at five on AM 7 90 k. He doesn't say it smells nice. Well, maybe we left. I think the answer is going to surprise You, okay? All right. Oh, I know. Okay. Lot of people had asparagus. Oh, my gosh. 73 long, Meghan. Making this. No, I can't wait for off the clock we go. We've actually got a whole segment built around this. Yes, Megan. It's factual mood, right, like to not be didn't make them an off the clock that involves We're going to break it down County by county. We're gonna say we're going to tell you which county eats the healthiest. Okay. You know what? Megan, How dare you Bring me into this successful of just of immature? Yes. Nonsense. Ginger, help me out, please. Some other stuff that we can say people eight, But, you know, we're leaving at all alone. Find good morning to you guys, You know, hopefully nobody got hurt, and that's what we can. Of course joke about it. You know? Hopefully you paid attention didn't take a dip in the water. All right? Can't wait to check in with our Steve cause We love him. 10 westbound side. Let's move you back over to the situation. So earlier this morning, right? Talking about the 10 westbound side Fourth Street before you get to Euclid. Pedestrian got hits only the right lane open and it's a situation to we've had some units trying to get to the scene, and they were stuck for a little bit one of five East at the 1 10. So most of the activity for this motorcycle crash clear to the right shoulder, but the fire Department on scene Anytime we get a motorcycle wreck, I feel it's kind of early for the bike. It kind of dark, but okay. So you just have to be careful. Share the world with them and them with us. This is a situation where the drive isn't that bad yet, and the stretch of the one of five doesn't fill in too much. You have plans here heading towards a l E X. You're still good to go and not too much to talk about. That's the good news, I guess. I'll send it back to you guys. Thank you. Ginger 17 Million gallons Sewage spell Forced miles of beaches in Los Angeles to close the Hyperion plant lost power, resulting in a sewage spill. Big time out into the ocean. Calculate five Steve Coups live from Placa del Rei with the details, and Steve the answer to what I asked you. Does it smell.
"two points" Discussed on Jocko Podcast
"The most effective strategy. It's not how. Why outwit dave in an argument. That doesn't matter. Why am i having argument history. As we have seen provides examples were strategy helped by favourable conditions has virtually produced such a result and goes through some examples. Here and again. He's he's recalling back to some of the examples that he talks about in the book. While these case while these cases where the destruction of the enemy's forces the enemy's armed forces was economically achieved food the disarming by surrender such destruction may not be essential for a decision and for the fulfillment of the war aim in the case of a state that is seeking not conquest but maintenance of secure of its security. The aim is fulfilled. The threat be removed if the enemy is to abandon his purpose with such while such blood. This victories have been exceptional. Their rarity enhances rather than detracts from their value. As an indication of latent potentialities in strategy and grand strategy despite many centuries of experience of war we've hardly begun to explore the field of psychological warfare from deep study of war. Klaus fits was led to the conclusion that quote all military action is permeated by intelligent forces and their effects nevertheless and quote. nevertheless nation's at war have always striven or been driven by their passions to disregard the implications of such a conclusion instead of applying intelligence. They have chosen to batter their heads against the nearest wall. So here's cost what's okay. It's it's an intelligence doing but all the time we countries people leaders teams we. We do stupid things. We bang our heads against the nearest wall. 'cause we get emotional. We're not intelligent. And we look out for that. It rests normally with the government responsible for the grand strategy of awarded to decide whether strategy should make its contribution by achieving military decision or otherwise just as military means is only one of the means to the end of grand strategy. One of the instruments in the surgeons case so battle is only one of the means to the end of strategy if the conditions are suitable it usually it is usually the quickest in effect but if conditions are unfavorable. It's folly to use so cool. You can go battle but if you haven't prepared for it and you don't have the advantage of stupid. Let's assume that a strategist is empowered to seek a military decision. His responsibilities to seek it under the most advantageous circumstances in order to produce the most profitable result hence his true aim is not so much to seek battle as to seek a strategic situation so advantageous that if it does not of itself produced the decision it's continuation by battle is sure to achieve this so we're not engaging in battles that we don't know we're gonna win and if we know we're going to win them why can't we convince them opponent that we're gonna win and they bow down. In other words dislocations the strategy it's sequel maybe either the enemies dissolution or his easier disruption in battle. Disillusion may involve some partial measure fighting. But this is not but this is not the character of battle. So that's what we're trying to do. We're trying to win the fight without fight it. We're trying to win the argument without having. I'm trying to get dave what to do what i wanted to do without him. Even knowing that. That's what i wanna do. It's his idea. Yeah and think about that statement about you getting me to do. Do it do what you want me to get done without fighting with me and take a step away from this book which is talking about fighting your enemies your literal enemies to someone on your team or marty. My team my guy. Yeah because the human nature doesn't change it doesn't change if in the jungle desert forty two if we're in nineteen sixteen if we're one thousand forty two. It doesn't matter if you're my enemy or your friend. If there's if there's a component of human will then we need to utilize these principles effectively next section action strategy. How is the strategic dislocation produced in the physical or logistical sphere. It is the result of a move. Which a upsets the enemies dispositions and by compelling sudden change of front dislocates the distribution and organization of his forces be separates his forces got it got a little a little little little little tingle in my spine. When i saw that endangers his supplies de menaces route or routes by which he could retreat in case of need and reestablish himself on the base. So there's the these ways that we can cause strategic dislocation dislocation may be produced by one of these effects but is more often a consequence of several right. We're gonna win. Dislocate them from multiple different directions. Differentiation indeed is difficult because a move directed toward the enemy's rear tends to combine these effects their respective influence however varies and has varied throughout history according to size of armies and complexities of their organization. With armies which live on the country drawing their supplies locally by plunder requisition the line of communication has negligible important. So if you've got an army that's out there living off the land that kind of know what they're doing you you. You can't really cut their supply lines because they don't have any even higher even in a higher stage of military development. The smaller a force. The less dependent is on the lines of communication for supplies for larger and army and more complex organization. The more prompting serious in effect is a menace to its line of communication. So depending on who. You're fighting gotta make some adjustments where armies have not been so dependent strategy has been correspondingly handicapped and the tackle issue of battle has played a greater part nevertheless even thus handicapped able strategist have frequently gained a decisive advantage. Previous to battle by menacing. The enemy's lines of retreat the equilibrium of his dispositions or as local supplies. It's we're doing so we're we're throwing people offered by messing with supply chain by messing with communication and by the way abroad mentioned this fifteen eight fifteen thousand more times. He's talking all the time about disrupting your enemies communication. Each one of those is the red cell. The red team for asta go on. Am i communicating properly every time you hear. That's one of the main ways that the indirect approach works by disrupting the enemy communication. What does that tell us about our communication. It tells us it's freaking critical. He goes into some some Talk about how to disrupt communication to be effective. Such a menace usually must be applied at a point closer in time and space to the enemy's army then a menace to is communication and thus early in warfare. It's often difficult to distinguish between strategical and tactical maneuver in the psychological sphere. Dislocation is the result of the impression on the commander's mind of the physical effects which we have listed. The pressure is strongly accentuated if his realization of being at a disadvantage is sudden. And if he feels that he is unable to counter an enemies move psychological dislocation fundamentally springs from his sense of being trapped. That's straight out of like the jujitsu world sir and.
"two points" Discussed on Jocko Podcast
"Of a people change the outcome of strategic situations for sure so even though i said hey it's it's closer to. It still can have a huge impact. I mean look at vietnam it was like oh well we can beat them because we can kill a hundred and fifty vietnamese soldiers and vietcong soldiers for every one of our people that killed so well win. No actually we won't win because guess what the their collective will is freaking incredibly strong. Yeah but movement and surprise movement lies in the physical sphere and depends on calculation of the conditions of the time topography and transport capacity by transport capacities. Meant both both the means. By which the measure in which force can be moved to maintain okay. So there's a physical. Fear sphere of movement. Surprise lies in the psychological sphere and depends on a calculation of far more difficult than in the physical sphere of the manifold conditions varying in each case which are likely to affect the wheel of the opponent. So you've got two things you've got movement and you've got surprised. This is how we're going to kind of win. This is how we're gonna win. By movement and surprise movement physical surprise psychological although strategy may a more at exploiting movement then at exploiting surprise or conversely the two elements react on each other so even though they're different spheres they're still closely woven together movement generates surprise and surprise gives impetus to movement. So this is ju jitsu right. If surprise somebody they have to react to it so you can make someone move by surprising them with something for movement which is accelerated its direction inevitably carries with it a degree of surprise even though it be concealed while surprise smooths the path of movement by hindering the enemies countermeasures and counter movements. So fi surprise you time to react to it. You're not defending it. This obviously not something. This guy was thinking about when. I think about flying in stealth airplanes. The psychology of. That is what i what i have discovered and it's true. Not just an airplane and shoe and every situation more often than not people's reaction to being surprised is not the right reaction. They don't usually racked welcome you when when they reacted still like an action reaction reaction. Think about how you react when you're surprised. Are those usually like good smooth effective responses hundred percent. Yeah and when when you look at stealth airplanes. The advent of americans showing up with stealth fighter planes and and sort of culminating event really was in desert storm when nobody even knew he had them. And all of a sudden stealth airplanes are over baghdad dropping bombs and the iraqis didn't they did not understand what was happening and the reaction was obviously wrong now that they're proliferated. That's why a significant undersize force when you're flying around in the stealth aircraft and then i'm fighting against you and your conventional aircraft and the first call you here is the first four of your airplanes are all dead and the psychological response to that is almost always the wrong response. The reaction they behave erratically. They move in different. They don't know what to do. The psychological responses surprise is almost always the wrong reaction and the power of creating that reaction. Your opponents is really hard to overstate. And that's really one of the things that airplanes have allowed us to do is get our opponents to behave incorrectly to give even more advantage. You're an off balance them some. Yep because what you just said when you say either. Overreact run react. guess what. You're off balance. A balanced measured response to be like. Okay we didn't really get him off balance. But you either overreact or you under react and through surprise you cause them to move too far in one direction too far in the other direction. That's what's going to happen. And that's what we're going to take advantage of and you've explain this a ton like attack your arm and you under react to a point where you do not almost. Don't react at all and you just let me have it then. I may actually culminate with an arm bar. But more than likely you're going to overreact. I want you to overreact to that. So that can attack something else. But it's just like you said it's it's the lack of a balanced response. It's usually an overreaction. Usually that reveals a weakness. Somewhere else that i can then exploit the as regards the relation of strategy tactics while in execution the border line is often shadowy and is difficult to decide exactly where a strategical movement ends in a tactical movement begins yet in conception the two are distinct tactics lies in the fills tactics lies and fills the province of fighting strategy not only stops on the frontier but has for its purpose. The reduction of fighting by the slenderest possible proportions so the purpose of strategy is to not fight goes on with the aim of strategy. This statement may be disputed by those who conceive the destruction of the enemy's armed force as the only sound aim in war who hold that. The only goal of strategy is battle and who obsessed with the claus in saying that blood is the price of victory yet. If one should concede this point and meet its advocates on their own ground. The statement would remain unshaken for even if decisive battle. Be the goal. The aim of strategy must be to bring about this battle under the most advantageous circumstances and the more advantageous the circumstances. The less proportionally will be the fighting. So we'll go strategies. We're not fighting. That's what we're doing. The perfection of strategy would be there for to produce a decision without any serious fighting history now now think about that from a leadership perspective. I never get in an argument because dave's doing what i need him to do to make it happen. That's the most effective strategy. It's not how. Why outwit dave in an argument. That doesn't matter. Why am i having argument history..
"two points" Discussed on Jocko Podcast
"Nothing you back to the book a true. This is a true adjustment would establish a perfect economy of force in the deeper sense of that off distorted military term so all the time we heard the economy force but because of the nature and uncertainty of war and uncertainty increased by lack of scientific study. Even the greatest military ability could not achieve a true adjustment. And success lies in the closest approximation. To the truth again his use the word truth is a little bit is a little bit broad but what he's talking about. How much should i apply to this. How much four should i apply. We want to apply the minimum force required. But we're not going to be perfect with that so we want to get as close as we can. This relativity is inherent because however our knowledge and of the science of war be extended. It will depend on the art for its application. Art can not only bring the end near to the means but by giving a higher value to the means enable the end to be extended this complicates calculation because no man can exactly calculate the capacity of human genius and stupidity nor the incapacity of will. So there's all these things that we have to account for as leaders and we're and we're not going to get it perfectly right. But how close can we get it next. Section elements and conditions in strategy however calculation is simpler and a closer approximation to truth possible than tactics. So this is a very interesting point. It's easier to calculate big broad strategic things because you're a little bit further away from the the human component for an war. The chief incalculable is human will which manifest itself in resistance which in turn lies in the province of tactics strategy has not to overcome resistance except from nature its purpose is to diminish the possibility of resistance and it seeks to fulfill this purpose by exploiting the elements of movement and surprise. Now let's cruel and everything. I would say that there's definitely that's a stretch because we've seen collect the collective.
"two points" Discussed on Jocko Podcast
"That's the strategy of limiting limiting such a policy has more support from history than military opinion has recognized and is less inherently a policy of weakness than some apologists pie. So just because. I say you know what i'm not really looking your till echo gets here. That's not necessarily week. In fact it might be smarter. In fact if i think you can beat me and i'm pretty sure you're going to beat me. It's way smarter to wait. 'til echo shows up to kick your ass. Indeed bound up with the history of the british empire and repeatedly proved a life buoy to britain's as well as if the permanent benefit to herself however unconsciously followed there's ground for inquiry whether this conservative military policy does not deserve to be accorded a place in the theory of the conduct of war. So how often did britain. What maybe we don't wanna fight that war. Maybe wanna give that up. Maybe we want to give that area. Maybe we needed bargain and maneuvering move into an area that we know we can take. And then we'll we'll negotiate for it back later. The more usual reason for adopting a strategy of limited aim is that of a waiting a change in the balance of force. Wait until echo shows up a change often sought and achieved by draining the enemies four weakening him by pricks instead of risking bows. What if while you know what. Hey dave i don't. I don't really wanna roll today. Echoes going to be here in a little while. But while you're waiting wants you roll. Couple rounds with carey wants to roll a couple rounds with dean and so here you are fighting all these battles by the time. Echo charles shows up fresh. He's just had a discipline go. He's ready rock and roll. You're tired you're nine rounds deep. That's my that's my. That's a great plan. Great plan so. I i we can you by pricks. Instead of risking blows the essential condition of strategy such a strategy is that the drain on him should be disproportionately greater than on oneself. 'cause i was sitting over on the corner keeping time. That's what i was doing while you were rolling with guy after guy after guy. I'm keeping track of time for you. The object may be sought by reading his applies biological local attacks which annihilate or inflict disproportionate loss on parts of his force by lowering him into unprofitable attacks by causing an excessively wide distribution up on of his force and least by exhausting his moral and physical energy. This is the exact example right. I don't think i can kick your house. But you know what echoes going to be here in a little. While and in the meantime i'm going to entice i'm gonna go. Hey hey dean go get a couple of rounds go go go get a couple of rounds of dave boom and just rough you up and going to hit you a couple different people by the time. Echo shows up no factor. That's what i'm doing. yeah. I'm also thinking of just the idea of even going to war with the american military and in most of our opponents certainly more recent history. The aim wasn't destroy the american military. It was to make those series of little pricks over time. Become intolerable where. We're no longer willing to have these little successive losses. So we're not going to have that decisive campaign at all because you made this for me and that connection a policy to. We talked about that all the time of the will. Somebody's willing to be doing that as hey. I don't wanna keep doing this over and over again. These small little these little those things. Add up over time as opposed to like somehow the objective is we're going to have a force on force culminating event between some military in american military which which again generically speaking. Nobody wants that. Somebody wants to have a decisive engagement with the american military. So some other things said and make that intolerable for us watch by the way we suck in many areas of this. The united states in general think of the propaganda damage that gets done to us on a regular basis that has been done to us on a regular basis. Basically since vietnam anytime we get into. I mean anytime. We get into a conflict now the propaganda that is used to turn us against ourselves in this country is it's it's crazy. How effective is you looked vietnam war. It's crazy how effective they were at turning americans against americans in that war back to the book this closer definition sheds light on the question previously raised of general's independence in carrying out his own strategy inside theater of operations for if the four if the government has decided upon limited aim or grand strategy. The general who even within his strategic fear seeks to overthrow. The enemy's military power may do more harm than good to the government's war policy. So what does that saying. That saint like dave out there super aggressive. And he's like you know what i'm gonna i'm gonna take this whole area. I mean while. I'm thinking dave don't take that hillary occupy it and i don't have the people that occupied now. We're gonna cause more problems so just because you're winning doesn't mean you're winning you. Usually a war of limited aim a war policy of limited aim imposes a strategy of limit dame and a decisive aim should only be adopted with the approval of the government. Which alone can decide whether it is worth the candle old school expression. I didn't really know what it meant. Had to look it up worth the candle means. We're gonna do something is what we're doing worth the candle that the light it's gonna take to for us to be able to do whatever we're doing. Is it worth the candle like we're gonna. We've got some work to do tonight. Cool light the candle. But how much are we really going to get done. not worth. the candle is back in the day. Kind of the juice were toward this grease exactly we can now arrive at a shorter definition of strategy as quote the art of distributing and applying military means to fulfil the ends of policy and quote for strategy is concerned not merely with the movement of forces as its role is often defined but with the effect when the application of the military instrument merges into actual fighting the dispositions for and control of such direct action are termed tactics. The two categories a convenient for discussion can never be truly divided into separate compartments because each each not only influences but merges into the other which is why leadership strategy and taxes called ship strategy and tactics kind of convenient that it worked out that way but but listen. Here's what's important is what we're doing. It doesn't matter what matters is how it ends up. Yeah what matters is the strategic effect. That's we have to think strategic all the time that's what we need to do. Next section higher or grand strategy as tactics in as topics is an application of strategy on a lower plane so strategy is an application on the lower plane of grand strategy. So he goes one level up a home other thing. We got attacked Peasley talk about operational. That must be a modern thing. Tactical operational strategic and then grand strategy while practically synonymous with policy. What was your. Would you study in college policy. Dang up man time. Do you're rolling. But i mean there's so much close whizzy and stuff in there but the the previous comment it was as i'm thinking of sort of like the business alignment of this. This military concept is how often are we. Are we engaged in tactical battles that don't promote or support the strategic goal and. I think it was. I think it was the debris podcast. But you said this is if what you were doing. If the tactical engagement urine supports the the big picture strategy it's not tactical its strategic and if it doesn't goal and you're engaged you shouldn't be doing like how often do we dig in on these these small things that even in the end if we win don't reinforce the big picture goal the objective. And how often do i on with my team The marketing team digging. How i wanna do this this thing. And i'm going to fight with the the sales team over and supplies and equipment and priority. That actually helped the company. The company achieved some some sort of success being able to look at that as a leader and going. Hey listen this. This doesn't matter this. We don't need to dig in here. Let them have this. We're playing the long game because we wanted the company to win and how hard it is for us decouple. This idea that every battle is a strategic notes. It's not very few of them are yeah absolutely for the role of brand strategy. Higher strategy is to coordinate and direct all the resources of a nation or band of nations towards the attainment of a political object of the war the gold defined by fundamental policy grand strategy. She both calculate and developed to economic resources and manpower of nations in order to sustain fighting services. Also the moral resources for a foster. The people's willing spirit is often as.
"two points" Discussed on Jocko Podcast
"There's people that lead like this in companies and organizations in their families and they. The way they lead is by trying to win battles. That's the way they lead and the commitment that every argument is a decisive battle. It has to be one and not not being able to recognize where i think i think he called him like inflection points or something along the lines of recognition of this is where this is this is decisive and the recognize what an inflection point is in combat as opposed to like every every engagement is not an inflection. Point is on a decisive point and being recognized where those points are and and fighting those as opposed to every single engagement. You mean the idea of picking your battles. Hey pick your about how who's been told that before. Yeah hey pick your battles comments seems like such common sense and yet all the time. People look at every discussion argument contention as the decisive battle for their. He cow yeah released a policy to break down. The distinction between strategy in policy would not matter much if the to function normally combined in the same person as with frederick or napoleon butts but as such autocratic soldier rulers have been rare in modern times and became temporarily extinct. For the nineteenth century the effect was insidiously harmful for encouraged soldiers to make preposterous claim. That policy should be subservient to their conduct of operations and especially in democratic countries it statesman on to overstep the definite border of his fear and interfere with his military employees in the actual use their tools. So there's gotta be a line between these two things and we gotta stay in our lanes a little bit. Oh hey here's the policy. How do you want to execute it. Hey here's the resources i need. Don't know change your policy. Moltke reached a clearer and wiser definition in terming strategy quote the practical adaptation of the means placed at a general disposal to the attainment of the object in view. Monkeys another Prussian guy chief general in the eighteen sixties and He's the guy that kind of i would say he had that the idea of the old making sure you have an overall objective and make sure that people understand what the overall objective is. The german word alf trog stocked no overall objective. This definition fixes the responsibility of military commander to the government by which he is employed. His responsibility is that of applying. most profitably. To the interest of higher war policy force allotted to him within the theater of operations assigned to him if he considers that the force a lot it is inadequate for the task indicated. He's justified in putting this out. And if his opinion is overruled he can refuse or resign. The command but he exceeds his right foot year if attempts to dictate to the government what measure for should be placed at his disposal. So like i said. There's a line here that he's talking about on the other. Hand the government which formulates war policy and has to adapt to it to conditions which often change as a war progresses can rightly intervene in the strategy of a campaign. Not merely by replacing a commander in whom has lost confidence but by modifying his object according to the needs of its war policy while it should not interfere with him in handling of his tools. It should indicate clearly the nature of his task thus strategy has not necessarily the simple object of seeking to overthrow. The enemy's military power with government appreciates the enemy has the military superiority either. In general or in a particular feeder it may be wise to enjoin a strategy of limited aim. Before i get into limited name. What's tie this back to corporate leadership and business leadership. What are you doing if you're in charge to make sure that you are empowering your subordinate leaders to make things happen. And not saying hey. Here's exactly how to do it. Here's what i want to do with your team. Here's what to do with your tools. Here's that's when you're crossing the line. You shouldn't have to do that. You shouldn't have to have those conversations we should be able to say. Hey dave this is what we're trying to make happen. How do you wanna do it. Yeah and dave. Who's on the front line says. Hey boss here's what i'm thinking looks good go execute and by the way dave my comeback scenes. Hey boss. we can't do that. Unless you give me some more resources. And i say all we got sorry and you say we need to back then or we need to not do this market area. Because we don't have the we don't have the resources we need. Okay cool or maybe say well. I think it's just because you suck. You're fired echo. You've got the con- so let's make sure that we delineate the roles and responsibilities clearly enough that we know what what we're trying to do up and down the chain of command now. Now get back to this point of a strategy of limited aim. He goes into it a little bit. Here this is the strategy limited limited aim. It may desire to wait until the bounce of force can be changed by the interagency intervention of allies or by the transfer of forces from another theatre it may desire to wait or even limit its military effort permanently while or naval action decides the issues. It may calculate that the overthrow of the enemy's military powers task definitely beyond its capacity and not worth the effort and that the object of its war policy can be assured by seizing territory which you can either retry retain or use as a bargaining counter when pieces negotiated. So every one of those things is indirect. It's a it's a it's a. It's a limited aim. It's like oh you know what i wanted to kick dave's ass but he's way bigger and way better at jiu jitsu than i thought he was. So you know what i'm gonna do. I wanna like say hey man instead of us fighting. Why don't i buy you a hamburger and we'll talk about some stuff and you know what i'm saying like it's a different. It's just taken a different approach. It's a totally different approach. We you know what. I think dave can actually kick my ass. Echo is going to be about thirty minutes. Echoes bigger and stronger than dave. He's been training more to wait. 'til hey dave from i'd rather have you roll with echo right. Some bringing some reinforcements..
"two points" Discussed on Jocko Podcast
"Many many people will do which is just want dave. If i'm wrong just come and tell me like if you lie to yourself then you probably just keep taking the direct approach all the time. Yeah which is not going to work. And if you're if you're the person that prides themselves in listening to other people's direct assault on you there's high risk through that you're lying to yourself check all right back to the book one defect of this definition. That was the definition of strategy which was the art of employment of battles as means to gain the object of war so that that's call switches desk definition one defective. this definition. Is that intrudes on the sphere of policy or the higher conduct of war which must necessarily be the responsibility of government and not of military leaders. It employs as its agents in the executive control of operations. So he's he's gonna go through this but there's you know we say all the time you think strategic all the time that's what he's about to about to address fourteen different ways and he's gonna actually go into chapter on from. We'll get there today. But there's a higher level strategy called grand strategy. And so he's thinking grand strategy policy another defect is that narrows the meaning of strategy to the pure utilization of battle thus conveying. The idea. that battle is the only means to the strategical end. It was an easy step for klaus with less profound disciples to confuse the means with the end and to reach the conclusion that in war in every in war every other consideration should be subordinated to the aim of fighting a decisive battle. So think about that. That's your attitude is like. Hey the whole purpose of strategies do is to engage in decisive battle. That's what we're doing. So then what do you do during world war want you put more people on the line and you put more people on the line and you put more people in line you said another battalion and brigade another division over the top. That's what you do. And.
"two points" Discussed on Jocko Podcast
"I was. I was just culturally. Lost roy fall giants. Okay i'll explain to you asteroid coming in right world world ending asteroid global killer. So they're like. Hey let's just a blast it with nukes and blow it right out of the sky. Then the smart scientists is like. That's a bad idea. Everyone gets all mad right. No actually we're going to eat a direct approach Lunch nukes right. Can't get any more direct than that but the smart scientist said nope is what you're gonna do. You're gonna cohen there. You're going to drill a hole. you're going to put a nuke in that whole. You're gonna just nudge it just a little bit on the side. It's now the trajectory that trajectory gets changed saying that was the smarter approach. Same thing exactly right bre here. I am going through historical books. Trying to figure this stuff out with armegeddon use will bother with all the check back to the book. we good yes armageddon. I'm just saying these ideas everywhere. You see what i'm saying. Go for whoever habitually suppresses the truth this is this is where you have to pay attention because again. It's not me lying. Dave and saying well actually dave The timeline that's required for the plan. You better use my plant. Whoever habitually suppresses the truth in the interest of tact will produce a deformity from the womb of his thought. So you can't. You can't lie about what you're saying. You have to maintain you have to maintain the truth but you have to take an indirect approach. That's it it's not a lie. It's an indirect approach bound to the truth. He explained it a little bit more. Is there a practical way of combining progress towards the attainment of truth with progress towards its acceptance through. Is there a way to get dave to think about my plan. Utilize my plan with all doing it in a way that he is open to accept. This idea is there a combination of those two things of telling dave the truth about what i think of his plan and at the same time getting him to accept my opinion. That's what we want right. A possible solution of the problem is suggested by reflection on strategic principles which point to the importance of maintaining an object consistently and also of pursuing it in a way adapted to the circumstances. This seems so obvious is that we continue to focus on the right thing but we continue to move towards this objective but as circumstances change we aja we adjust we maneuver. We say oh yeah. There's a massive enemy of location right here. Let's not continue in that direction. Let's go around it. Isn't it smart to do that with our ideas as well. It doesn't mean we abandoned the objective. It doesn't mean we. We say oh. We're going to change this objective. We're not gonna continue towards it. Means we adjust our approach and maybe instead of going direct we go in direct. Opposition to the truth is inevitable. That's a good thing to remember. Opposition to the truth is inevitable especially if it takes the form of a new idea but the degree of resistance can be diminished by giving fought not only to the aim but to the method of approach. Avoid a frontal attack in a long established position instead seek to turn it by a flank movement so that the more penetrable side is exposed to the thrust of the truth but in any such indirect approach. Take care not to diverge from the truth for nothing is more fatal to it's real advancement than two laps into the untruth. So for the people that commented. When i talked about the indirect approach. And we're like oh so you're gonna lied. Your people no no. We're not going to lie to our people. The truth is the objective but we are going to adjust our approach so that we're not offensive to the individuals or the groups that we're talking to so that we don't cause them to put up more stiff resistance to fight against our idea to to for them to look at it as if it's not the truth we're going to flank. That's organ. do and then he goes on here and he says the meaning of these reflections may be made clearer by illustration from one's own experience looking back on the stages by which various fresh ideas gained acceptance. It can be seen that. The process was eased when they could be presented. Not as something radically new. The revival in modern terms of time honored principle or practice that had been forgotten. So here's his one of his little indirect approaches to take a new idea and and and camouflage it with an old idea. It's kind of like what the what. The christians did with the vikings right easter. You know where you know. The term easter true. And it's a. It's a pagan thing but we caught a pagan word. And it's a pagan ceremony. But the christians are like oh yeah you can call the thing in the spring. We call it easter. It's cool. it's about christ rising but you know we call it easter. It's sort of a thing that you guys already do. They just kind of an old idea and rebranded. that's actually what. They did think they did the with christmas to christmas too. So that's what we're doing we're kinda camouflaging this idea. So it's a little more open to. Hey you know how you guys do. The springtime thing and you guys celebrate birth right we. We had a rebirth. Kinda co brand. That thing we're good cove kind of like your dog. Great when you feed them the heart pills heart worm pills okay you put it. Put a little. Put a little piece of steak around that. Yeah you know like you've been eating this food this whole time. Put the put the heart worm. Bills he goes. He goes on to say here..
"two points" Discussed on WCBM 680 AM
"Democratic bill creating a bipartisan commission to investigate the Capitol Hill riot is far from assured in the Senate, where minority leader Mitch McConnell is giving it a thumbs down major decision to oppose the House Democrats slatted and on balance proposal. Or another commission to study the events of January the 6 30 Turns out that ransom rumor was true is correspondent Jennifer King explains CEO colonial Pipeline told The Wall Street Journal. He authorized the payment of $4.4 million in crypto currency to a gang of hackers who broke into his computer systems. Sources have told The Associated Press that in exchange for the ransom Colonial received the software decryption key required to unscramble their data network, allowing the company to restart its East Coast fuel pipeline. The colonial CEO tells the journal he knew it was a controversial decision but felt that paying the hackers Was the right thing to do for the country. Though there are rumors of a pending cease fire and the latest Israeli Hamas showdown, nothing concrete just yet the terrorist rocket fire continues unabated, as does Israeli retaliation carried out another wave of airstrikes across Gaza early Thursday, killing at least one Palestinian and wounding several others. This comes a day after Prime Minister Benjamin Netanyahu vowed to continue the operation until he can restore calm and security to Israel. He seems determined to continue operations in Gaza despite rising pressure, including from the United States, for him to wind down the operation, Correspondent Joseph Crowd say in Jerusalem. Stock futures in the red on Wall Street this morning. Right now, Dow Futures are down 117 points. NASDAQ futures two points lower. More on these stories, a town hall.
"two points" Discussed on AP News
"Quote today are farmers conversation with annual savings ever dated July to December, 2020 100, my farmer structure, fire insurance exchanges, Orfalea products available in every state. You're high 32 points with six rebounds, five assists than three steals. He shot 10 of 17 after scoring just two points in 25 minutes against the Red Storm Jovon. Blair had 18 points for the Hoyas, including a three pointer that gave Georgetown its last lead at 67 66 3rd rank. Villanova bounced back from Wednesday's loss to ST John's by downing Georgetown 84 74. You mean Samuels had a career high 32 points with six rebounds, five assists and three steals. He shot 10 of 17 after scoring just two points in 25 minutes against the Red Storm. Going over was supposed to play Xavier before Cove in 19 issues. Put the Musketeers program on hold. Jovan Blair had 18 points for the Hoyas, including a three pointer that gave Georgetown its last lead at 67 66. I'm Dave Ferrie third rank. Villanova bounced back from Wednesday's loss to ST John's. By downing Georgetown 84 74. Samuels had a career high 32 points with six rebounds, five assists than three steals. He shot 10 of 17 after scoring just two points in 25 minutes against the Red Storm. All my mom says, Let's make the correct offense play. The ball comes my way with the shooting Brothers International past whether that's driving the ball that Z just with a little basketball is and that's my job is a senior Villanova was supposed to play savior before Cove in 19 issues. Put the Musketeers program on hold. Von Blair had 18 points for the Hoyas, including a three pointer that gave Georgetown its last lead at 67 66. I'm Dave Ferrie. Scott Lot unregistered his first career hat trick, and two other Flyers.
"two points" Discussed on KOA 850 AM
"They could increase capacity to 50% or 150 people. Dial two point no uses a seven day instead of a 14 day, metric or disease incidents level of community testing, which we call percent positivity and hospitalizations. That's feel Hunsicker Ryan, head of Colorado's Department of Health and Public Environment. Under the new rules, counties in the Metro Denver area will move from level orange, the level yellow. Ryan says The adjustments are possible because Kobe numbers are dropping in Colorado. The changes went into effect yesterday morning at nine o'clock. Stoney's Bar and Grill Downtown will have 150 patrons for the game later today that 50 more than we've been having in the past. We kind of want to take it a step at a time, although we're allowed to have more people in here. And 150. We want our clientele and got to be able to feel safe While they enjoy the big game manager Brian says. They're keeping their limit of 10 people per table and they'll ask people to wear their mask if they leave their table. And Colorado's economy should recover losses suffered during the pandemic, but it's going to take awhile. We do think with the rollout of the vaccine, we will see leisure and hospitality. Start to really move upward nicely. Going to take years to get back to where it was before. That's Richard Wabi kind with C U Boulders. Business School, Colorado's secretary of state's office released its latest quarterly jobs report on Friday. It shows a spike and jobless claims in the fourth quarter of 2020. Reaching levels We haven't seen since April. And May our next news update coming up in 12 30. I'm Jodi Jordan Ko a news radio a 50 A M and 94 1 FFP from the Bet. Fred Sports Traffic Center. It does look like all of your earlier crashes have been cleared up. So dinner. Delightful news on the roads right now. 25 checking clear. I 17 wonderful in wide open.
"two points" Discussed on KQED Radio
"From NPR News. I'm Noel King, and I'm Steve Inskeep. Good morning. Our next guest is thinking about the long term trends that will shape the news in 2021. Ian Bremmer is president of the Eurasia Group. It's a political risk consultancy. That means they advise companies about world events that may affect their businesses. His annual list of risks for the new year is out today, especially in a world that feels so politicized. This is our attempt to just share with the public. In the U. S. And around the world where we think the world's heading Now it's not easy to predict the specific events of any coming year. Think of the start of 2020 experts knew a pandemic was possible but did not know it was arriving right then or how serious it would be. What Bremer focuses on is longer trends, including some that the pandemic accelerated in 2020. I mean the pandemic made it so much easier to pit Left versus right Republican versus Democrat Trump Supporters versus never Trumpers because of how difficult it was going to be to even hold the election, the level of mistrust between the United States and China that grew a great deal of accelerated in in this period of Let's face it the most daunting crisis that we've experienced in our lifetime. So let's talk about what you see in the year ahead. Or perhaps I should say years had one of the first things in this new year. That's a major news event is that Joe Biden becomes president? January 20th. What could possibly go wrong? Well, when you think about 2021, of course, you know Corona virus is going to dominate the news continually. But the United States today is not on Lee, the most powerful country in the world, but it's also the most politically divided and economically unequal off all of the world's wealthy democracies. And President elect bite and will take office. In that environment. He will be seen as illegitimate by almost half of the country. I want to interrogate that a little bit and see if it's really new. I'm just thinking back that there were some people who thought Trump wasn't really the president because he'd been helped by Russia. That wasn't true. He was elected by Americans, even though he did receive Russian assistance. There were people who thought Obama wasn't president because they believe false conspiracy theories about his birthplace. People believe that Bush wasn't president because they thought that had been put there by the Supreme Court. Is this really at a new level than what it was before? Well to two point, Steve the first is you put your finger on something that is unique to the United States. I mean, you look at the United Kingdom or France or Germany or Japan and Canada. None of those countries have elections, where, after the election half of the population questions, the legitimacy of the leader and the United States, the most powerful country that has been happening, and it's been growing, but also clearly it is getting a lot worse. Big difference between 2016 and 2020 lot of people said Not my president. Hillary Clinton. Didn't Hillary Clinton said. Actually, Trump won This is an administration that intends to tackle climate, rejoined the Paris climate accord and take further steps at home and abroad. What risks do you see as the world tackles climate change in some fashion? I think the biggest difference between Biden and Trump and even by the and biting his vice president is going to be this extraordinary focus on climate, not just rejoining Paris. But really putting resource and regulations towards a post carbon energy environment. I think what's interesting about that? Ah, lot of people that focus on climate think of how this is something that brings the world together. This is something that makes us all recognize this small planet that we're on. In reality, the Chinese have been increasingly dominating all of the post carbon energy sources, whether it's nuclear or solar, or wind or electric vehicles and supply chain and infrastructure, And when the United States suddenly starts paying big attention to that. The U. S is gonna want to dominate that space, so it actually creates a lot more competition. Is the change in U. S administrations likely to reduce or change us tensions with China. I don't think so. I think it will normalize to a degree, They'll be a you know, a breath that has taken an effort to reset But anti China sentiment is one of the few areas where there is broad agreement across the aisle in the United States, and it involves a lot of things. Certainly buying will be more focused on human rights issues, like the weaker is like Hong Kong than Trump was. Technology will be a big issue between the two as it has been The Americans will work more closely and trying to coordinate this policy on China with our allies like Japan, South Korea, Australia, the Europeans in Canada, where Trump was more unilateral, and then you have not only the climate fight that we were talking about, but also vaccine nationalism where the Chinese are just gonna have a lot more vaccines to export around the world. The poor countries that will want to be more aligned to them. And the Americans will be taking longer on that front and the vaccines that we have the greatest access to are ones that don't work as well in developing countries that don't have the infrastructure for them. You know, we had a writer on our air at the very end of the year who was saying we should keep in mind that 2021 could be as bad as 2020 could be even worse? Who knows you need to be mentally prepared for that? But with that in mind, how do you feel about 2021? We're going to see an economic rebound and that's a really big deal when you've gone through hell. And you know, you've got these vaccines that are vastly more effective and faster than any epidemiologist was expecting back in 2020. That's very positive. But let's understand that the economy is not fixed for so many people. The inequality is growing. And so absolutely I worry. Even as the overall global economy is gonna look so much better in 2021 that in 2020. I'm not sure it's going to feel that great for a lot of people around the world. And I'm also thinking that the political tensions underlying all of this actually getting worse. So it's it's a really mixed picture for 2021. Ian Bremmer is president and founder of the Eurasia Group, which is a political risk consultancy. Thanks.
"two points" Discussed on News Radio 920 AM
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