The Ben and Emil Show - BAES 122: How Ben Lost $400,000 in a day

Episode Date: October 16, 2025

So how does it feel to lose $400,000 in a single day? Haha I'm glad you asked. Well, in this episode Ben gets CANDID and discusses a few trades that really turned on him. Plus, Trump's turning up the ...heat with China and someone with insider information made $200 million shorting bitcoin. OUR NEW CREDIT CARD SITE IS LIVE!!! Go get that BILT card baby! https://thecreditcardlist.com Give this video a thumbs up if you enjoyed it! And please leave us a comment! It helps us! ***Ben's new movies and tv podcast with Dillon is OUT NOW! GO WATCH the latest episode on TRON and ROOFMAN here: https://youtu.be/jhwE7JWJvPc?si=OaWuAMv_MqyMh5N- **CHECK OUT EMIL'S LIVESTREAMS HERE: https://www.youtube.com/emilderosa Support us and get bonus content, ad-free versions and more plus your first 7 days free at https://benandemilshow.com __ SOME OTHER VIDEOS YOU MAY ENJOY: That's Cringe of Cody Ko: https://youtu.be/dTbEk0pVh2w Our AUSTIN VIDEO: https://youtu.be/yGSs56bFzRU Our episode with Kyla Scanlon: https://youtu.be/cIHWkY35cuc Big Tech is out of ideas (ft. ED ZITRON): https://youtu.be/zBvVGHZBpMw Arguing with a millionaire (ft. Chris Camillo): https://youtu.be/1ZUWTkWV_MM We bought suits HERE: https://youtu.be/_cM1XqA9n2U ***LINK TO OUR DISCORD: https://discord.gg/CjujBt8g ***Subscribe to Emil's Substack: https://substack.com/@emilderosa ***Trade with Ben at https://tradertreehouse.com __ MOOMOO: Click this link https://start.moomoo.com/BAES to get up to $1,000 in free stock when you make a qualified deposit. Terms and Conditions apply. Securities are offered through Moomoo Financial Inc. (MFI), Member FINRA/SIPC. The creator is a paid influencer and is not affiliated with MFI and their experiences may not be representative of other moomoo users. Investing is risky. See full disclosures at https://invest.us.moomoo.com/_disclosure CASHAPP: Download Cash App Today: https://capl.onelink.me/vFut/zd0taway #cashapppod. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC. See terms and conditions at https://cash.app/legal/us/en-us/card-agreement. Direct Deposit, Overdraft Coverage and Discounts provided by Cash App, a Block, Inc. brand. Visit http://cash.app/legal/podcast for full disclosures. __ Follow us on instagram! @ benandemilshow @ bencahn @ emilderosa Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Starting point is 00:00:00 When you're with Amex Platinum, you get access to exclusive dining experiences and an annual travel credit. So the best tapas in town might be in a new town altogether. That's the powerful backing of Amex. Terms and conditions apply. Learn more at Amex.ca. i'm going to share some things that emil doesn't yet know about because uh don't worry is it that you joined in an old-timey baseball league i am getting squeezed like a wet bar of soap uh the
Starting point is 00:00:42 market reacted and absolutely shit the bed i mean poop everywhere poop all over their butts poop all over the sheets yelling at your partner did you poop in the bed everything that i was short squeezing. Everything that I had sold up 30%, 50%. Quantum stocks that are the bane of my existence. What's driving me insane... Yeah, you've been pissed about Raghetti for a long time. They sold two computers. That's a lot. They sold two computers. How many computers did you sell this year? None. Okay. So maybe get off Raghetti's back. One of the only things that's been keeping me going is like, at least I'm not one of these guys who lost everything in crypto.
Starting point is 00:01:26 At least I'm not one of these guys who lost everything in crypto. I would never short an Italian name. That's on you. I'm working out of time with me tell me what's going on. Tell me what's going on. The worst part is this wasn't even, I didn't even come here for this type of bag, but I got sidetracked. He's buying another bag.
Starting point is 00:01:54 I'm not going to buy it. I just wanted to know what's out there. Me, I use paper bags from the damn grocery store. Which is honestly probably why it's so, my brain won't accept it. Because I, like, I don't know, it's some kind of OCD thing. I love when things are away. I love having a bag for the, the perfect bag for the situation. Yeah.
Starting point is 00:02:15 And I just, I just always get, I get it in my head like, what if I don't have the perfect bag for this situation? and then all of a sudden I'm off to I'm on I'm on the many bagger Reddit being like Many bagger Reddit Oh come on man You've never popped into many bagger
Starting point is 00:02:30 There's more than one of you There's an entire community of people like you Who just love bags Honestly it's the only place I feel at home Is the many bagger community Many or mini Oh no many many Many bags
Starting point is 00:02:46 Many bags Many bagger Many baggers For people that like bags Oh, my God. Look at this thing. Wow. All right, all right.
Starting point is 00:02:55 Well, we need to save this for the bonus or something. I'll tell you about my bag problems and the bonus. All right, folks. Before we get into it, just a reminder that the credit card list is live. And you can go there. And that second one, the built master card, you should get that because man oh man, do I love that dang card. Do you? Well, no.
Starting point is 00:03:17 Yeah, you're in a different situation than me. but man i i i pay my rent every single month with that card and they send a check on my behalf and i'm really ticked off that i didn't do it sooner and don't make the same mistake i did plus yeah they got everything on there we got the chase sapphire cards the chase uh american express cards knock yourself out and if you have poor credit or no credit there's the under more categories you click credit builder and then there's a bunch of Wow, the Magnum. Which I can speak to.
Starting point is 00:03:49 The Magnum card? No, no, just the credit. I mean, I'm not joking because we were looking into stuff. I looked up my, my credit was, the number is like, I can't believe it even goes that low. Was it like 300? Mm-hmm. And I literally had to do, I had to do secure credit cards and all that stuff. And secure basically means that you, I think you front the money.
Starting point is 00:04:16 money from them because you basically send them whatever. I think the first one I did was like 500 bucks. And I had to be like, here's $500 so you know that I'm good for it. And then it's basically like a pretend credit card. And then after a while, you can get a real one. Yeah, because they're basically, yeah, yeah, it's a, that's why they call it secured because the money is secured. It's basically a glorified debit card. It's right. It's not really a credit card. But if you need to build your credit like I did. Yeah. So anyway. I mean, totally worth doing. Because now I can I can get any credit card I yeah me too my credit score is like 800 and something I know I just mine mine was uh eight oh my man oh dude I like literally can't believe I he literally can't
Starting point is 00:05:02 believe I it's one of those this is the perfect recommendation for anybody who's ever been in that situation where it felt insurmountable and I remember even when I got the secured credit card being like why even bother I'm so screwed yeah Like, it doesn't matter. I should just quit. Because you famously, like, weren't paying your student loans or your credit card debt. Well, I was also broke. I just had no money.
Starting point is 00:05:24 You know, I would go to, uh, I would go to the doctor and then get a big bill. And you'd be like, what do you want me to do with that? I'm just going to, just going to ignore it. Like, I don't have any money. Um, and so it's just all snowballs. And then, yeah, you get into this defeatist attitude where you're like, well, screw it i'm not gonna it's all it's all screwed anyway and then i was like let's just try got the secured credit card you start calling creditors and being like look let's just work out a deal let's
Starting point is 00:05:56 wipe this thing off huh what you say i know it says 700 would you take two yeah uh and it feels pointless but then all the sudden years later you're like wow glad i did that i can get a chase sapphire reserve card yeah and now i have folks half a million points I just fly for free I got too many points that I even know what to I now have like
Starting point is 00:06:23 250,000 built points those things are awesome yeah they're just as good as oh yeah they have a lot of travel partners now they have a ton of partners you can transfer them pretty much anywhere so yeah I mean if you're paying your rent via a check or just online
Starting point is 00:06:37 I mean that's gonna give it a shot no annual fee just your rent alone is going to net you I mean depending on how much you pay thousand points. Tens of thousands of points. Well, no, it's one for one. But still, you're getting a few. Yeah, but throughout a year? Oh, throughout a year. Yeah, yeah, yeah. Tens of thousands of points.
Starting point is 00:06:54 Well, this episode's going to be interesting. I'm going to share some things that Emil doesn't yet know about because don't worry. Is it that you joined in an old-timey baseball league? Oh, man. I've been watching this guy
Starting point is 00:07:09 on TikTok who dresses like an old-timey baseball player and swings like one too. And he's just got that like low effort looking kind of swing you don't even bother trying to find him you've seen the conan o'brien old time baseball league clip right yes from a long and he's just if you haven't he's obviously i implore you to go watch he's making fun of them the whole time oh it's yeah it's so funny yeah that i remember that i remember that when that came out when that first aired now we're going to be talking about um what it's like to lose a lot of money in um in the stock market like I recently have.
Starting point is 00:07:48 And one of many who... Oh yeah, one of the only things that's been keeping me going is like, at least I'm not one of these guys who lost everything in crypto. At least I'm not one of these guys who lost everything in crypto. No, but arguably mine is worse because it's me happening to not... Whenever stuff happens to you, it's bad. Yeah. But when it happens to other people, it's like suck it up.
Starting point is 00:08:13 It's like, look, I get it. At least it's not me. Well, I guess, oh, man, I totally forgot about my, I have my swap disaster up there. That's going to break your heart because that's just the stupidest thing ever. And I tried to just kind of forget about it. And I guess I successfully have. Is this all related to the kind of crypto meltdown and the Trump? Yeah.
Starting point is 00:08:38 Yeah, okay. So why don't we start from the top? Because you should give the context of. Yeah. So. What actually happened here? On Friday, this last Friday, Donald J. Trump, president of the United States, came out and tweeted a long, a long stupid thing saying, let's see if we can pull up the actual tweet. I'm sure it's in this daily upside. It was two tweets because it was first, it was first that he was warning that China wasn't cooperating.
Starting point is 00:09:12 and I'm sure any listener of this show will know that there's been a long saga of Trump and his tariffs and I mean there's been so much going on that people have basically just forgotten that we actually don't have real trade deals hammered out it's this weird mess, tangled web of oral agreements that
Starting point is 00:09:38 foreign leaders are making with Donald Trump. Yeah. And now they're kind of, China's, one of the trade reps has been tweeting, like, we don't need the United States. The world is a pretty big place. And the longer this goes on. I think it's very true.
Starting point is 00:09:55 I mean, I saw J.D. Vance talking about how, you know, if China wants to play this game, like, I don't think they know the leverage that the U.S. has. It's like, my guy, I, you're either stupid or just lying. I mean, it's a 5,000-year-old country full of Chinese people. But they've also, it just seems so apparent that they're playing this long game where, you know, Trump thinks in, and I honestly think America from a, for a, for, from a larger perspective, thinks in this like short-term gain way anyway. China is thinking in centuries. I mean, they've, they've diversified. Their plans are measured in centuries.
Starting point is 00:10:35 They've diversified supply chains and all that kind of thing. they are not as reliant as on us as we are on them. And I think we're really going to see that play out. Well, that's one of the things that we're starting to see, too, is all these, there's been a ton of precious metal, rare earth stocks that have just gone vertical because now finally the U.S. is going, oh, we're way too reliant on Chinese mining stuff, which is funny because, yeah, I mean, it's going to take a long, time to get these things up and running and start actually pulling these things from the
Starting point is 00:11:14 ground. But either way. It's too little too late. That entire sector. Instead of building out our own, spending the money, investing in it, it's, well, let's just do the cheapest way possible. It doesn't matter. It doesn't matter if we're exposed in other ways. But oh my God, you know, read this for us? This is it. Some very strange things are happening in China. They're becoming very hostile and sending letters to countries throughout the world. They want to impose export controls on each and every element of production. Basically, all you got to know is, I mean, it's too long to read. Donald Trump tweeted a couple times on Friday, and it absolutely tanked the market.
Starting point is 00:11:52 The market was just kind of fuzzling along, barely unchanged, barely up on the day. And it ended down like 2.3% or something. But everything was cool because we had these handshake deals of, okay, and, you know, we all remember the taco thing. It's like, all right. Trump always chickens out. Trump always chickens out. Just forget about it.
Starting point is 00:12:11 He's made these deals and they seem to be holding for now. But because he hasn't said anything like this in a while, the market was kind of complacent. And so when he dropped this on Friday, this veritable banger of a tweet, the market reacted and absolutely shit the bed. I mean, poop everywhere.
Starting point is 00:12:30 Poop all over their butts. Poop all over the sheets. Yelling at your partner, did you poop in the bed? He's talking about the rare earth. that they want to impose export controls on each and every element of production having to do with rare earths and virtually anything else they can think of, even if it's not manufactured in China. Nobody's ever seen anything like this, but essentially it would clog the markets and make life difficult for virtually every country in the world, especially for China.
Starting point is 00:12:58 We've been contacted by other countries who are extremely angry at this great trade hostility, which came out of nowhere. Our relationship with China over the past six months has been a very good one. It's very funny to say it's been a very good one. I mean, this guy who just taunts people. Yeah, his whole thing is, fuck China. China's my friend. And then fuck China. But China's my friend.
Starting point is 00:13:21 Fuck it. We're doing 200% tariffs. Fuck it, 300% tariffs. And being like, look, we had a very good relationship. I like President Xi. Xi Jinping is a fucking cock sucker. Fuck you, Xi Jinping. Wait till my insult rap comes out.
Starting point is 00:13:34 I like Xi Jinping. He's a good guy. He's my friend. Fuck Xi Jinping. It's just impossible to keep up with. They're by making this move on trade an even more surprising one. Is it? You've completely shaken up everything and confused every country in the world. Dude, that's 5D chess checkers. Yeah, I guess. He's playing checkers on a chess board while playing chess. You absolute dunce. So their relationship has been very good over the past six
Starting point is 00:13:58 months, but he says, I've always felt they've been lying in wait. And now, as usual, I've been proven right. There's no way that China should be allowed to hold the world captive. But That seems to have been their plan for quite some time. Starting with magnets and other elements that they have... Magnets in the quotes. And they have quietly amassed into somewhat of a monopoly position, a rather sinister and hostile... Yeah, only we're allowed to do that. I know. That's what's so funny.
Starting point is 00:14:22 You know, they've allowed this to happen. And now they're like, hey, you guys are using this against this. He goes on to say, but the U.S. has monopoly positions also much stronger and more far-reaching than China's. I have just not chosen to use them. There was never a reason for me to do so until now. The letter they sent as many pages long and details with great specificity each and every element that they want to withhold from other nations. Things that were routine are no longer routine at all. Anyway, the market shits the bad, right?
Starting point is 00:14:53 And just before the market tanked, someone opened an account on a crypto trading platform called Hyper Liquid, which is a new, newer, new-ish trading platform that gives people 50x leverage. Yeah, but it's all on chain, so it's cool. Hey, everybody, we want to take a quick break to talk a little bit about Moomu. You know my favorite investing app. And it's not just mine, because over 27 million people are already on Moomu. And honestly, I think I'm starting to understand why. You know, it really is the best of the best.
Starting point is 00:15:34 It feels like just a next-gen platform that makes investing and trading more cost-efficient and smarter. Just the way I always pictured it should be. Once you try it, you might never want to pay extra or settle for mediocre tools again. And what am I talking about? Well, Moomu gives you $0 commissions on U.S. stocks, ETFs, and options. Plus, they got built-in level two market data and real-time options chains. A lot of other platforms, you see, they make you pay extra for that kind of live data. which means you could be seeing red the moment you buy.
Starting point is 00:16:06 But with Mumu, you can place trades with accurate prices and skip those extra subscription fees. Not only that, but they give you all the news and other tools that I can't. There's too many to mention here. But the big kicker is that sign-up bonus, baby, Emile? Here's the thing. We got an exclusive offer just for our viewers. Yes, only for you guys. You can get up to $1,000 in Nvidia shares plus a 3% cash match on your first transfer up to $600.
Starting point is 00:16:33 Okay, I'd still be on Moomu even without the bonus. The low fees, solid platform, and the trust of over 27 million global users are reasoned enough. But with this bonus, that's real extra firepower for my next trades. Oh, yeah, baby. So don't wait because this promotion will not last. Hit the exclusive link in the description to lock in the bonus and put your money to work today. It's all on chain. So it is cool.
Starting point is 00:16:54 It is cool. And I think, by the way, Coinbase just announced a few, like in September that they were also offering traders. The CEO was like, we heard you. We're going to offer up to 11 times leverage. Have fun. Basically, imagine. Can I get that in a smart contract? Yeah, of course.
Starting point is 00:17:13 It's all unchanged, like you said. Imagine having a credit card where you've got, imagine applying for a credit card when you've got like, I don't know, $5,000 in your checking account in American Express goes, you've got $5,000, huh? How does a million dollars? and credit sound. Sound good? And then, so that's basically what leverage. It's a poor way of explaining what leverage is, but it's just a bunch of, giving people a bunch of money that they don't have. If things go wrong, if you borrowed a million dollars against $10,000 and your position
Starting point is 00:17:53 starts to go down, the trading platform is going to be quickly on the hook if it goes negative. so that's basically what happened is uh is when the when the market started to drop bitcoin freaked out but like i was saying someone on hyperliquid deposited open an account deposited i believe it was 80 million dollars uh and then shorted or bet against uh bitcoin and uh yeah it's very strange those positions were opened in very susways it's uh I believe it's the day before they had and massive amounts here,
Starting point is 00:18:36 $80 million short against Bitcoin, then later, hours later, $30 million short against Eath. And then hours later, Trump posts his truth about calculating higher tariffs. Yeah.
Starting point is 00:18:52 And then the market's dropping and they're still not executing the shorts. They're waiting until there's another Trump truth when he says I'm applying 100%. I'm considering 100% tariffs on China. And then they just start executing. Bitcoin dropped from $124,000 to about $105,000 per Bitcoin. And that trader netted over $200 million. And then they promptly closed the account and was nowhere to be seen after that. But the real crisis was that a bunch of
Starting point is 00:19:30 of alt coins. So basically everything other than Bitcoin and Ethereum, all these little alternate coins, they dropped like some of them 99% like to near zero. There was one, I think one Adam Adam A-T-O-M dropped from several dollars to like 0.001. Yeah, this was the big, the real big issue. I mean, Bitcoin is basically fine. It took a big drop, but that's not that unusual for Bitcoin. I mean, obviously that's a big swing. But it's, I mean, and now it's back up at whatever it is, 112. Yeah. But yeah, these small ones that basically run on hype and leverage and have just been
Starting point is 00:20:12 absolutely wiped out. I saw Fartcoin took a big old shit, unfortunately. Fartcoin trusted the fart too much and pooped itself, if you know what I'm saying. But so they, here's what was confusing. Some of the alt coins dropped like 90% to, or, like 99% to near zero, but only on Binance, which is another platform. Elsewhere, they only dropped like 40 to 50%. And the reasoning is that, yeah, there was a ton of leverage out there. A bunch of, there were a lot of posts showing that there were people who had, how many, I think someone showed
Starting point is 00:20:52 the top 20 liquidated accounts on hyperliquid. The top one was like $20 million, poof gone. next one was like 15 million poof gone 10 gone 5 5 like it was millions of people's entire crypto accounts were wiped out and there were a lot of anecdotes of people on twitter saying like i quit i'm not doing this anymore i lost all you know but it is important to know these are people who were i mean they're probably 22 year old broccoli heads it's probably a lot of young guys but anyone who got wiped out like this maybe i'm wrong are people who were just outright gambling just fully
Starting point is 00:21:33 leveraged to the tits on absolute nonsense I mean just just bullshit coins fart coin just things that got that are only driven up by these hyper leveraged
Starting point is 00:21:48 and hyped up you know Reddit threads or wherever they're posting all these things these things are backed by absolutely nothing and these people are just gambling them up and up and up yeah uh hey if you're enjoying the episode so far why not slap that fucking thumbs up i i need it uh i'll get to what i lost
Starting point is 00:22:13 in just a moment but um not as a result of this but other things but uh it's also very different than these you know the traditional market too where you know there's no there's no things in place to to stop this once these things start getting triggered everything is just uh i mean just an algorithm, just lighting things up. Yeah. Well, and the problem is that with traditional markets, there's liquidity there. There's a ton of liquidity. There's a ton of bids there to catch, to absorb the cells. But in this case, there really wasn't a lot of, it fell so fast that it fell below people's like stop limit orders. Like if you say, okay, automatically sell if it hits 110. Well, if it hits 109 below your stop, it's just too fast and your order just doesn't even get filled.
Starting point is 00:22:59 partly because there's nobody there even bidding because everybody, it's just a liquidity vacuum. Right. There's just nothing there. And there's not that much money. I mean, you're talking about, like, they're collecting some fees on this and stuff. They're not sitting on massive piles of money to backstop this stuff. And you're talking, I mean, depending on, it's really hard to measure all this, but like, you're talking about tens of billions of dollars just being wiped out.
Starting point is 00:23:24 It was the biggest liquidation in, like, crypto history. I think the estimate is about a little over $19 billion compared to like the FTX disaster and oh shoot I'm forgetting the other one there was another one from a few years ago that other exchange that had their main coin drop like 95% oh well but it was it the moon one or whatever it was yeah Luna Luna thank you god damn
Starting point is 00:23:51 there's been I cannot believe how many of these oh yeah so those only had a few billion liquidated. So part of the issue was that Binance was auto selling a lot of these alt coins to cover the losses because they were used as collateral and they were auto selling them. So like if you're, hey, I'm leveraged to the tits and now I'm in the red, but I also hold these alt coins. Binance was just stepping in and liquidating everybody's everything to cover these things. Called auto de-leveraging. Auto-de-leveraging. Binance even froze. Robinhood froze. Coinbase, I think, froze. And a lot of people, oh, yeah, here's some of those charts.
Starting point is 00:24:32 There's, oh, my God. Just falling off a cliff. My God. My God, Johnson. Yeah, every time this happens, I bring it up that, like, they talk about Bitcoin and crypto as this, like, look, dude, stock market's fake. You want to get your money into, like, crypto. It's digital gold. These are, you know, this is your backstop. The better fake. Right. It's the better fake. Look, that's fake. This is real. Yeah, but it's fake, but more real. Every time there's a blip in the market, in the stock market, the crypto market melts down. Yeah.
Starting point is 00:25:08 And I cannot find a solid explanation for it. I'm sure some commenter. I mean, the best I can figure out is that, I don't know, if people are, if people are selling off and less liquid in the regular market, they're going to start liquidating crypto assets. and that's going to trade that's what i recently had to do that's going to have cascading effects yeah i had i sold my bitcoin today and my and half of my ethereum uh which i will get to but so real fast oh wow maybe you are literally the uh the answer i was looking for kind of hey gang we want to take one more quick break to thank a sponsor of the show it's cash app you know there's a lot of scams out there. I don't know about you guys, but I'd be getting these text messages on the daily.
Starting point is 00:25:58 It's every day for me, multiple scams. Hello, dear. How are you? It's me. Don't you remember me? And you know what they're eventually trying to get at. I'm stuck or something. I need $500. Get out of here.
Starting point is 00:26:09 Get out of here. They're always stuck. Get unstuck. Always looking for some. So there's a lot of red flags like that you guys should be watching out for. Don't trust anybody who's asking you for any kind of money.
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Starting point is 00:27:33 Prepaid debit cards issued by Sutton Bank member FDIC. Discounts provided by Cash App, a Block Inc. brand. Visit Cash.app, cash.com slash legal slash podcast for full disclosures. So there was a lot of speculation. That's so ridiculous. There was a lot of speculation. that this was clearly someone within the Trump family
Starting point is 00:27:55 or that it was Baron Trump I personally because through whatever sloothing they're able to do they say that they found the guy who put on that short. Yeah, he's tweeting right now. Yeah, his at is
Starting point is 00:28:09 Garrett Bullish looks like a looks like a guy who lives in Hong Kong because that's what his location says and he I mean, let's scroll down a little bit. He basically he called out the
Starting point is 00:28:24 exchanges for like doxing him essentially and he said that... Well yeah, immediately on Reddit and whatever threads and stuff they're going, well, it's all on chain. We could just figure out who this guy is. Yeah.
Starting point is 00:28:40 He said we remain bearish. The recent price rebound was largely driven by excessive long leverage. The 10th, the October 11th crash wiped out most leveraged players until exchanges established stabilization funds to restore market confidence, a sustainable upturn is unlikely. But he said, let's see, do-to-do-do-do-do.
Starting point is 00:29:00 He said he was doing it on on behalf of a client. Yeah. And his name? Baron Trump. His name? No, I'm joking. We don't have any evidence that it was Baron Trump, but I do kind of think. I mean, dude, this kid, who was it?
Starting point is 00:29:18 Forbes? someone there was an article out it's obviously someone close to the Trump administration well because it's happened so many times before on just the S&P oh yeah and his last tweet before all this
Starting point is 00:29:33 was RIP to I know which is very funny he hadn't tweeted since September 10th when Charlie Kirk died and then he got out it as this guy but I'm not they've went through he was placing these short positions
Starting point is 00:29:45 literally up until the minute before Trump fired off the final truth. Yeah. I absolutely think it's... Give me a fucking break. Without it being that close, there's a little bit of me that would be like,
Starting point is 00:30:01 okay, maybe this is coincidental. But the fact that it's happened so many times before. Oh, I know. I mean... And there was the thing about... I think it was fortune. Baron Trump net worth. Well, the... Yeah, Forbes.
Starting point is 00:30:15 Forbes in the economic times. Baron Trump's net worth hits 150. million dollars. How the fuck does that happen? Well, he's about to get a board seat on TikTok, so that might help. He's about to probably get a board seat on TikTok. This little fucking cock-sucking piece of shit. Imagine this guy on the board. Any ideas for what we should do? God, he's such a... You can tell he's just a little fucking troll. I do feel bad for him, though. I don't at all. Fuck this little piece of shit. He's self-aware. I used to feel bad. I was like, oh, he's autistic. No, he's evil autistic. I just think
Starting point is 00:30:46 There's no way, there's no way this guy just comes out with, how are you going to grow up and be a normal guy? A normal guy who... Sure, but I don't care about that. You can be a, you can be a normal guy who's the son of a billionaire. I've met a few. Yeah, but Donald Trump. True. Your old-ass dad is Donald Trump.
Starting point is 00:31:08 Yeah, but also, so this greedy little... The guy literally going on Air Force One just for the second time that we know of now, just like crying to the press, like, I don't think I'm getting into heaven I'd like to get up there but I can't like What is happening? Yeah We just have a president who just like laments to the press Like I don't think I'm making it's going to happen
Starting point is 00:31:26 I think I'm going to the other place I think I'm going to the other place I think are depressed president who just wants to get to heaven Yeah At the end of his life Yeah I've helped a lot of people which could help But I don't think it's good enough But so everybody was saying that it was someone
Starting point is 00:31:41 In the Trump family Or close to the Trump family but now we know that it was this guy who runs a fund for wealthy clients and trades on behalf of them. But that doesn't mean that it wasn't someone either in the Trump family or close to the Trump's period. We have no idea who this guy's client is. I mean, he fully could be working for Barron Trump. That's even if this is correct. I assume it is because the sleuths who are Bitcoin and blockchain savvy seem very, very confident. and he's owning up to it. I don't know why you would not deny that if that were the case.
Starting point is 00:32:16 Right. And it doesn't matter, right? I mean, we've basically legalized insider trading. And it's all, it's all bullshit coins anyway. Yeah, who the fuck is going to go after the Trump's appointed SEC chair is going to go like,
Starting point is 00:32:31 hey. Well, they've already labeled them as not securities. There's nothing to even do there. Yeah, that's the other thing. Great point. That's the other thing is they are not technically, They are not legally classified as securities, thereby making them not have to adhere to rules.
Starting point is 00:32:48 Also, just does not matter, even if they were. I mean, the day after, whenever it was, one of his tariff meltdowns, he had all kinds of titans of industry in the Oval Office being like, these guys made a lot of money. Well, that's what's, so he tweeted that on Friday. And then over the weekend, so he went, he did the classic thing. fuck Xi Jinping all my all my homies hate Xi Jinping jishin ping is the ops but then over the weekend he was like I like him
Starting point is 00:33:16 I actually kind of like Xi Jinping Chinese food is good you guys don't worry about all that China tariff stuff that's exactly what he said don't worry about it and then the market of course started rallying and then today as of this recording two days ago for you guys today for us he tweeted again
Starting point is 00:33:34 he said why won't China buy soybeans He said, there it is. I believe that China purposely not buying our soybeans. That doesn't even work. I believe that China purposefully not buying our soybeans and causing the difficulty for our soybean farmers is an economically hostile act. We are considering terminating business with China
Starting point is 00:33:55 having to do with cooking oil and other elements of trade as retribution. As an example, we can easily produce cooking oil ourselves. We don't need to purchase it from China. Man, I've seen enough videos of Mr. Bao on TikTok to know that cooking oil
Starting point is 00:34:10 is a big fucking deal. You seen this guy? Who? Mr. Bao? He makes Brick sauce.
Starting point is 00:34:17 B-I-A-O. Dund-D-L-D-D-D-D-D-D-D-D-D-D-D. He's this guy in rural China who, like, shows you how to make how he makes all sorts of tasty Chinese things. Look at this, look at this.
Starting point is 00:34:31 But it's the same song every time. Anywho. So do you guys Do you guys want to know how I lost a bunch of money twice? Two big times? Yeah. Two big times. So picture this. It's Friday. The market dropped. I was short a little bit, so I felt good. And I had some cash in my crypto account. And listen, don't hate on me. I've accumulated a good amount of crypto over the years. You know, a modest amount for a guy of my size and age. What's a amount of that? And race? You know, a little over...
Starting point is 00:35:09 I'll just tell you how much I lost. So I have this wallet. It's a crypto wallet called Phantom. And in that wallet, I have a bunch of cash sitting there in the form of U.S.D.C., which is... It's like the dollar... It's basically a stable coin. It's, yeah.
Starting point is 00:35:30 And I saw that Ethereum was at like $3,800. And it had just dropped. from like 4,500. This is it like... Ethereum was at what? $4,500 and dropped to like 38. And I thought, okay, this is probably going to... It's such a quick drop.
Starting point is 00:35:44 It's probably going to bounce back up, right? So what you do on Phantom... Dude, Ethereum is like... You can't predict Ethereum. It's... You can predict anything. I know, but Bitcoin does seem to bounce back. Ethereum is like this ridiculous...
Starting point is 00:36:02 Well, I... You don't... don't necessarily, you can buy crypto directly with this wallet, but the way I've got it set up is I swap. So it costs significantly less, usually. You just say, okay, I want to swap my USDC for Ethereum. And I put in the amount, $17,000. And normally, when you're about, it gives you the final, like, okay, here's how much you want to swap. Here's how much Ethereum you're going to get. Here's the network fee that you're going to get charged. normally the network fee is like maybe $100 tops and I wasn't paying attention to the network fee
Starting point is 00:36:45 and I just was like oh okay yeah cool looks good that's exactly how much I put in click swap and then I look at my account the network fee and the in the total the total of my account dropped by about $17,000 and I was like that's not normal huh but But I seem to remember the similar thing having happened to me once or twice before where it just takes a minute for it to like process on the chain because there's a lot of shit going on right now. It's probably going to take a minute. I googled it. Sure enough, that confirmed my question. I'm supposed to be instant.
Starting point is 00:37:18 By the way, so that total amount was for like 4.4 Ethereum, right? Yeah. And then I check, I give it like 30 minutes and I check my thing and I look at the transaction history and there it is. I'm like, there it is. How come it's not showing, how come $17,000 is now missing from my thing? And I check the thing and there's the transaction. And then I look at the network fee and I go,
Starting point is 00:37:44 what? The network fee was 4.8th. Meaning it's more... It charged me more than the amount that I even wanted just to transact because the network was so old. overloaded that at that exact time, I must have put it in during peak, peak of peak. Oh, yeah, I'm sure. Because congestion. There were headlines that was like basically every crypto trader bought the dip. And so I'm sure everyone was trying to get a piece. Yes.
Starting point is 00:38:19 And sure enough, you can click and look at it on the chain, on the blockchain. And I scroll down and I see it goes. And Heath has notoriously high gas fees or whatever. The gas fee was, the gas fee was actually like two bucks or something it was the network fee that fucked me and sure enough i look on ether scan which is the thing to look at it on the blockchain and it shows my total transaction amount zero dollars total uh network fee 20 000 that's nice so that was nice that was how i went into my weekend you you added a little bit to their liquidity fund so this doesn't happen again uh-huh and i was out Uh, enjoying a nice sunny afternoon with, uh, with my dog and my neighbors and their dogs. And I'm sitting there just going, fuck shit. And I'm like talking to the goddamn mother fucking
Starting point is 00:39:08 AI help agent on phantom. And I'm like, hello. How can I help you? And I'm like, okay, I just did a transaction. Oh, you can stop being so cheerful. I just did a transaction. I explained it and it goes, yeah, sorry about that. We don't set the network fee. The network does. And I said, is there anything that can be done about this? Unfortunately, no. And there's just nothing that can be done. But it did come up, you just didn't look at it, right? Before you executed it? Yep, because then I did another one, like
Starting point is 00:39:35 15 minutes later, because before I knew what had happened, I was like, well, let me just do like a little test transaction. And I bought some, and it showed the network fee and it was like fucking $20. But then it jumped to like $2,000 for a minute. And then it came right
Starting point is 00:39:51 back down. So I was like, oh my God, I must have done it at exactly. The worst time. The worst fucking time. And let me tell you, folks, that didn't feel good. But it gets worse. It gets a lot worse. A lot worse. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. So, as you guys might know, I do stock trading. And I've gotten pretty decent at it to the point where, you know, I make a good living doing it. And I, I, I, I, I, I, I, I, I, I, I, I, I, I, almost hesitate talking about this because I know that some people are going to be like, oh, fuck you. But listen, don't, please don't, because I'm sharing this. You know, I was profitable last year and I paid my taxes and it was a lot in taxes because I did a lot of profit. And this year, the way that it works with my trading is if I'm
Starting point is 00:40:50 profitable, I can take it out and just have it in my checking account and then do with it as I please. Or I can roll it over. Or I can, yeah, roll it over and have it as like my cushion because let's say I take out $100,000 and I've only got $20,000 left and then I have a bad day. Boom, now I'm in the negative and now my risk manager is calling me and being like, hey, you're in the red. You need to deposit more funds. So I like to have a a pretty generous cushion in there for the pushing if you pardon the parlance
Starting point is 00:41:26 so I have been stuck short I am getting squeezed like a wet bar of soap my butthole right now is so raw and red and bleeding from the bar of soap
Starting point is 00:41:44 from the from no from the absolute carnage that is being inflict inflicted upon my anus. I am currently short... Is the cock the stock market? Uh-huh. Well, in particular, the fucking motherfucking
Starting point is 00:41:59 quantum stocks that are the bane of my existence. Yesterday, just yesterday, I incurred the largest one-day drawdown I have ever had. Hey, well, no one's going to say
Starting point is 00:42:16 you weren't setting any records. $400,000. Yeah Yeah Yeah No it was cool though Because Well think of Mr.
Starting point is 00:42:33 I ended I smoked Three cigarettes yesterday You know that And I was so just like Okay About Because Going into the weekend
Starting point is 00:42:44 400 grand yesterday Yes Well hold on Hold on Hold on It's not I mean it sounds bad but it is. It sounds horrible. But going into the weekend, I was like, hell yeah, I'm short
Starting point is 00:42:56 these stocks. And we're going into a fucking weekend where Donald Trump was like, fuck Xi Jinping. So all of the air is going to come out of the market, including and especially all of these super high risk speculative names, because that's what usually gets the rug pulled on it first. And then sure enough, on Sunday, he was like, don't worry about it. Everything's fine. So, So Sunday night, I'm looking at the futures market and everything's up. And I'm like, oh, you got to be fucking kidding me. Everything's, sure enough, yesterday. Everything closed on Friday way down here and everything opened on Monday.
Starting point is 00:43:35 Way the fuck up here. Everything that I was short, squeezing. Everything that I had sold up 30%, 50%. Everything that I wanted to buy on a dip up, fucking. and you name it. It was like, I felt like I was in a simulation and I was the main character
Starting point is 00:43:55 where it was just like every fucking thing that you have is gonna go down and every fucking thing that you don't have any more is just gonna keep going up.
Starting point is 00:44:08 Type in, uh, type in B, bloom energy stock. Ah, do you remember me talking about this stock on this show? Yeah. Do YTD.
Starting point is 00:44:17 Oof. You're to date. You see. See that all the way over there where it was like $20 a share? I had a lot of it. Oh, well, that's good. No, but then I sold it because now it's at $114 a share. Type in RGTI stock.
Starting point is 00:44:34 This is one of the quantum put six months, 6M. Can you guess where I started to short it? Keep going, keep going to the right, keep going to the right, keep going to the right. Keep going to the right. Right about. Right about. Keep going a little bit more. I shorted it at about like $30 a share.
Starting point is 00:44:55 And now it's at $56. This is a company valued at $18 billion. I would never short it in Italian name. They don't have any fuck. What's driving me insane... Yeah, you've been pissed about Rigetti for a long time. They sold two computers. That's a lot.
Starting point is 00:45:12 They sold two computers. How many computers did you? sell this year. None. Okay. So maybe get off Regetti's back. Go back. I want to show you another. So, so I'm short Raghetti. I'm also short I-O-N-Q. And what sucks is, oh, so here's one that's got a $27 billion valuation. And they don't make, they don't do anything. They don't make any fucking money. And yet, how many computers did they sell this year? I don't think any. Well, maybe next year. And everybody's, they put. out these goddamn cock-sucking stupid fucking press releases that are like, we made a huge
Starting point is 00:45:52 advancement today. It's like week after week they're putting out press release after press release, which if you know anything about quantum computing, which I don't and which nobody fucking does. Well, if you did, you know that two computers is pretty good. That's a different company, brother. This one is IonQ. They put out these things.
Starting point is 00:46:09 They're going to start selling them. There are some experts that I've seen talking about it. And they're like, they make these like breakthroughs. throughs all the time. It's basically just like, oh yeah, we had stability in our qubit something or other. That's awesome. I'm happy for them. But it doesn't amount to a fucking turd in a giant turd bucket. Don't listen to them on Q. I think it's great that you made more qubits. And these companies are admittedly, they're like, yeah, we're still like five to 10 years away from any kind of commercial viability. Everybody knows this stuff, but because there's
Starting point is 00:46:45 so much momentum behind it, and because so many trade groups, and you know who's doing a lot of it? South Koreans. No. There are so many... IONQ, quantum computing achieves greater accuracy, simulating complex chemical systems
Starting point is 00:47:02 to potentially slow climate change. That's incredible. I might buy in. Just the most bullshit. And people are now suddenly quantum computing experts, and they're just like, I'm telling you, these guys are the future of quantum computing. They're going to fix climate change.
Starting point is 00:47:17 Meanwhile, you're pissed at them. They have IONQ's CEO, IONQ's CEO said that NVIDIA GPUs will become irrelevant by 2027. That's a year and a half away. And yet, they are selling stock. I think insiders, including the CEO, have sold over $400 million worth of stock. So if you're going to upend fucking NVIDia in a year and a half, what the fuck are you doing selling shares? What are you doing? How come Nvidia's not absolutely fucking tanking on that, on that common fact?
Starting point is 00:47:52 It's because it's bullshit. But it doesn't matter. But anyway, I saw a thing, where was it? I mean, it's been all over, actually. There are, South Korea is just on a trading, I think like 30% of the volume on some of these is coming from South Korea. They're just, they're just fucking trading this shit. What am I have fun? I swear, I'm guys, I'm coming over there.
Starting point is 00:48:15 If you don't stop. They're trying to solve climate change. What's wrong with you? Someone's got to do it. The chief scientific officer of IONQ in May. In May said, quantum computers currently have no commercial viability. They aren't even as powerful as a laptop and probably won't be in the next five years. Okay, so he's saying get in now with a discount.
Starting point is 00:48:37 And their revenues that they have come from non-operating income, aka interest on money that they haven't sold the computers yet. I mean, folks, this is the danger of, uh, it's like you're, you can be right or you can make money, pick one and make, make money. That's the one I want. Because I remember buying shares of, uh, of Nicola, the hydrogen, um, uh, 18, the, the big rig thing. And I was reading about it as the stock is just going vertical. I'm like, well, shit, this is actually a viable thing. They've got partnerships with Budweiser and Pepsi and, you name it. And then once the stock starts fucking tanking, you do a little bit more research
Starting point is 00:49:21 and you find out, it's just tentative, like, Budweiser's like, yeah, if you can figure it out, we'll do something with you. Pepsi's like, yeah, if you can figure it out, we'll do something with you. And that's essentially not exactly the same, but it's kind of the same thing going on with these things. Because they'll get like, oh, there was a $20 million contract with the Air Force. And it's like, yeah, their budget is $500 billion fucking dollars. They constantly are throwing little grants to fledgling companies to do research. Yeah, research quantum shit. And it's just mind-nummingly painful because I'm short these things.
Starting point is 00:49:59 And I know that all of these fucking people aren't going to be holding on to these things for five to 10 years. Even then I know that the stocks aren't going to hold. They cannot sustain these values. That's my regetti. That's how I'm sending my kid to college. I regretty not getting regetti. And anyway, so I had, I had my profits, you know, just chilling in there. I've already taken out profits on the year, so I'm good, but I had a massive cushion. And then yesterday, that cushion just flattened.
Starting point is 00:50:38 And I was just like, oh, man. At least you. I think I'm going to, I think I need a cigarette. And so I asked my neighbor for a cigarette and I went out and I smoked it and I came back inside. And I couldn't do it. There's nothing I can do. The day started out. I opened my thing. I logged in and I was down 260 grand. And I was like, okay, okay. And then I look and I literally go pee and I come back and it's 300. And then it just keeps climbing. $5,000 a minute. You know what? You should have never done is go pee. maybe that would have I never lost the money Oh dude Well at least you had the cushion to begin with Yeah yeah But it's getting to the danger zone
Starting point is 00:51:20 And I've been in this situation before But my God Is it fucking frustrating And then people like fucking I know that this sounds like witchcraft Weren't you like having the best year You've ever had to? Yes
Starting point is 00:51:30 I mean I still kind of technically am But Wait That was just the one day 400 grand. I've already been down. Then how are you still having the best year? Because I was making a lot of money this year. I was doing well, but it still
Starting point is 00:51:48 doesn't feel good. Pull up OKLO. Oh, so you're still up. Barely. Barely. Maybe I'll get a tax refund next year. I'm so confused. Six months.
Starting point is 00:52:05 I'm so confused how you what? you're still calling it a good year? Because overall, I still am netting out more than you've lost. Yeah, but at this rate,
Starting point is 00:52:22 it's like, how much fucking longer is this going to go on? OKLO is another great example. $25 billion company. 120 employees. And they do, they are an advanced nuclear technology company.
Starting point is 00:52:36 We're going to need that. Founded in 2013 by Jacob DeWitt and Caroline DeWitt, both graduates of the Massachusetts Institute of Technology. That's a good college, MIT. They design compact, fast reactors with the aim of providing clean, safe, and affordable energy. Okay, what are you hating on them for? Because they don't have any kind of real, they don't make any money. They currently have zero revenues.
Starting point is 00:53:00 They haven't sold the computers yet. It's not computers. This is nuclear, these are small nuclear reactors. I know. And their technology is such that it's, they don't have. have, they don't have anything, basically. It's, it's Nicola again. Hey God, I got to sneeze.
Starting point is 00:53:19 Oh, and then I fucking walk Doug this morning and it's raining. And when it rains, he doesn't want to pee or poop. He's just interested in like, what's going on? Well, it smells different. This is crazy. And I'm like, Doug, please fucking poop so I can go inside, you know. And lose more money. And lose more money.
Starting point is 00:53:37 this fucking thing just goes up every day who the fuck is still buying this piece of shit and it's like everybody and what's frustrating is everybody in it knows they're like yeah I know it's not shit but I'm not fighting the momentum and I'm just like but that's funny you understand all this
Starting point is 00:53:59 you know all this stuff is bullshit but it's going shocked by it problem is I'm shocked because when I, when I bought Nikola's time was very short-lived. It went up and then it came back down after a couple months. This has been
Starting point is 00:54:19 going on all fucking year. Because now there are 10 times more fucking traders out there willing and able to just bid these things up to infinity. So you're going to buy this thing at $177? I do keep buying it. I don't know why. I just, they say it on Reddit and I just keep buying it.
Starting point is 00:54:35 It is so fucking exhausting. And it's like, I know, I know that these things are going to come down. But it's just a matter of like, look, it's up another $3 after hours. Why? You know how many employees they would need to actually pull this? Other nuclear companies have like thousands of employees. They just don't. It's exhausting.
Starting point is 00:55:02 Is there a traditional nuclear company you know about that is actually, doing... I think SMR is one. New scale power. And they're at 45 bucks. Yeah. Well, I mean, a different valuation, but that's like a real company. Market cap of 13 billion.
Starting point is 00:55:20 SMR. Well, they have 330. They've massively spiked, too, though, this year. Yeah. Dude, they... Oh, my God. What? They were at...
Starting point is 00:55:35 They were at like two bucks. Yeah, that's the other thing. Righetti was at like a dollar. There was a guy posting on Twitter who's like, Raghetti in one year has surpassed my Apple gains over the last 17. This guy's held on to Apple for 17 years. And in one year his Raghetti has gone up more than holding Apple over the last 17. That just speaks to how out of control and insane and stupid this is.
Starting point is 00:56:04 I mean, it's, so to be stuck with this is just like, you've got to be fucking kidding me. I mean, it's definitely a new environment where you have all kinds of things you're dealing with that have only sprung up in the last few years. Oh, yeah. And it's like people... I mean, the retail trader is now a completely different animal. Yeah. You also have Trump just controlling the stock market with a whim of a truth or a string of the truth. I mean, just the Friday to Monday is, I mean, Friday to Sunday, it's just unbelievable.
Starting point is 00:56:38 Oh, you get fucking whiplash. It's truly the most exhausting time to be doing this stuff. I mean, I got hosed just on a, just on a, like, incremental buy I do monthly. Because you bought it on, like, Thursday? Yeah. And then literally was like, what the fuck? Why did everything just drop? Yeah.
Starting point is 00:57:00 I saw that before I, uh, I was like, I just bought. where's the money it's it is luckily it's climbing back up but it's like fuck yeah i i i mean i really can't and all because of a truth you mean a tweet don't fucking do it don't call that's what it is i mean what that's what it's it's i think it illustrates just the how much more ridiculous it is it's didn't he start truth social wasn't it because he got kicked off of everything? Yeah. I mean, it's all so silly. He's sitting there on this platform because every traditional platform, they basically bricked his phone. They said, sorry, you use these platforms to manipulate people and you, uh, you did an insurrection. We got to kick you off and we're
Starting point is 00:57:55 kicking you off everything. But it was Joe Biden's fault. Facebook, uh, no, that was, um, he was president. Right. He was president of the time. And then he said, okay, fine, I'll create truth social where true patriots can get the news. And now he just uses it to short the market. It's just unbelievable. It's to do insider trading with his pals or his reject sons. It's just so silly. Yeah, it's not fun.
Starting point is 00:58:30 And now we all get to watch as he plays chicken with China. Well, and China came out. I don't think we're going to come out on top of that one. China came out, I think, yesterday and said, we'll fight this to the very end. We don't care. We're China. And we built that wall. So, anyway, I have a headache.
Starting point is 00:58:51 And how's your trading doing now? Have you stabilized? Today? Oh, I started the day up 40 grand because these things started to drop. But then, of course, because nothing makes any sense. Um, they just kept going up. So I closed the, well, I, I was down again about 80 grand. And then, uh, you can't keep track of these? What are you talking about? Well, it's because my positions are fixed. But the, as the market moves, the total profit and loss for the day reflects that.
Starting point is 00:59:20 Oh, okay. And so it's so now you're down 80. Well, no, then, then he truceed today. And it kind of saved me because everything started to drop. And I was like, oh, okay, good. And, and then I, I, I went from up like 42 to down 90 to up like 11 at the close. But now after hours, these fucking things are still going goddamn up for no cock, for no fucking. You know what we need? We need Trump to truth that that quantum is bullshit. Yeah. Please, Donald Trump.
Starting point is 00:59:52 I will personally suck him off. If he were to tweet that quantum is bullshit, I wish some hacker out there had the wherewith to just buy a bunch of put options on these things, short them to oblivion, and then have Trump tweet, I'm stopping all quantum and nuclear stuff. You'd make millions of dollars. But instead
Starting point is 01:00:14 they'd be like, phase clan has hacked Donald Trump's account. Whoa, whoa, whoa. Like, God, you fucking useless idiots. When they did it to Bill Gates, they were like, oh, we did it. We fucking hacked Bill Gates. And Elon Musk, we, phase clan
Starting point is 01:00:30 represent. Stupid. all you have to do if you're you hack into Elon Musk's thing all you had to do is say like I'm killing myself today and plays a big bet against Tesla man I I if I could just do one I could just get one shot no no just at his Twitter
Starting point is 01:00:55 yes just uh just to even get a whisper of oh Trump's gonna truth the stupidest Yeah. Oh, great. Let me buy. That's how you know that Baron Trump is doing it. He's going, hey, daddy, why don't you let me know when you're going to do something like that? And I will place a bet. And you know Trump's going like, you're such a smart boy. You're such a smart boy, of course. I'm just surprised we haven't gotten some NYU friend of his or girl he tried to take on a date. I'm sure that that's happening. Who's coming forward being like, yeah, all he does is brag about how he. he runs the truth account. Because they all want a piece.
Starting point is 01:01:35 Because they're all probably making money. They got loose lips. There's no way. There's no way they're, there's no way they're, uh, and then what will happen? What do you think will happen? No, no, I just want,
Starting point is 01:01:46 I need some confirmation. Oh, yeah, fine, nothing's going to happen. There's no consequences. But there's so much speculation around this of who's, um, who's profiting off these things, who's making these,
Starting point is 01:01:57 you know, we can always see these accounts, these snipes that are just making unbelievable. Pull up Q-U-B-T stock. I want to show you guys just how insane and stupid this is. This one is trading at $4.8 billion.
Starting point is 01:02:17 And it is up, I mean, last year, at this time last year it was trading at $86 and now it's at $21. You know what this company used to do? Make quantum computers. Nope. Just about a year ago, they were a drink, they were a failed soda
Starting point is 01:02:35 company. Look, we love a pivot. That's what they do. They're fucking like, we're a quantum company now, and now they're fucking... Wait, that's actually unbelievable. What was there? Do you know what their drink company was called? Let's see, QUBT beverage company.
Starting point is 01:02:51 QUBT is a stock ticker for Quantum Computing Inc. A company that was formerly a beverage company called Innovative beverage Holdings. No way. Yep. in 2018 oh in 2018 excuse me the company rebranded and pivoted to focus on
Starting point is 01:03:06 quantum technology what are you talking about see this is what's frustrating is it doesn't matter wait wait but how do you even I mean dude I'm on innovation beverage group's website here this is in I mean the first thing is a Australian bidders company
Starting point is 01:03:23 how do you even repurpose this into a quantum computer company I mean they don't That's the thing They don't fucking They just You can You can just say anything
Starting point is 01:03:37 And twisted shaker cocktails Drummer boy Not alcoholic spirits Fine these all seem Oh I see what happened They went bankrupt And some guy bought it And renamed it
Starting point is 01:03:47 Oh okay For like 500 grand But now he's fucking This schmuck is out there Just being like Yeah we do quantum They don't fucking do quantum They don't do shit
Starting point is 01:03:57 what's frustrating though is you've got a bunch of people out there on on Twitter and elsewhere who are openly saying I'm shorting these companies and you know all that does all that does is give ammunition look at this website for putting photons to work that's what I'm saying the people who work at these companies are saying themselves yeah this is really really far off into the future and even then, we don't know if it'll ever become... If it's ever going to pan out.
Starting point is 01:04:30 Yeah. Oh, my God. Oh, look at that. Quantum Computing announces $750 million over-subscribed private placement of common stock priced at the market under NASDAQ rules. In other words, they're diluting shareholders
Starting point is 01:04:44 to raise cash. And normally, that would cause a stock to drop 20% because it's like, oh, shit, we're all going to get fucking dumped on. It doesn't matter. It doesn't matter. Nothing fucking matters in South Korea are just
Starting point is 01:04:58 playing games. They're just bidding these things up to this is, we need Trump to truth. Don't worry about China. worry about South Korea. They're driving up our poor quantum computing stocks. Our poor, no, it's good for, I mean, it's just
Starting point is 01:05:14 and now you're seeing it across the precious metals, you know, you name it. MP Materials Corp has gone up, 10x. just throw a dart at a board and you will make millions of dollars.
Starting point is 01:05:32 You sound like a hater, dude. I am a hater. I'm pissed off. I'm pissed off. Stupid fuck. Look at that. I mean, that is actually, you know,
Starting point is 01:05:41 they're a real company at least. Um, I think. Yeah, but then he made, 804 employees, $17 billion valuation. But that one actually makes a little sense with the,
Starting point is 01:05:53 uh, with the talk of, we're going to have to start investing in critical metal supply chains outside of China. Yeah, these people stand to make a decent amount of money. So anyway. And maybe they sold more than two computers for all I know. Even though these companies don't do anything or make money or have a viable business model, it doesn't matter.
Starting point is 01:06:20 It's just buy it on the dips forever because they're going. to a million because quantum is the future and nuclear is the future even though it just doesn't fucking matter. Right, that's the other thing too when they do finally take the dip retail buys it
Starting point is 01:06:38 all back up. Well, that's what I'm hoping if you pull up ALAB, just Google ALAB, this is a stock that, do the six month chart, this is one that had a similar trajectory. It just
Starting point is 01:06:55 Do you see that? And look at what's recently been happening. The air finally comes out because it's kind of fallen out of favor. It's not really, you know, it's not the hot thing anymore. Buyers get exhausted and shorts pile on and then the momentum shifts. And that is what is going to happen to these. It's just a matter of when, not if. But the problem is how much fucking longer can and will this go on?
Starting point is 01:07:19 It's exhausting. It's like every fucking day. Yeah, for a year. i yeah yeah anyway this is a good place to stop we should change we should make the title like how it feels to lose 400 grand in a day or just pain period pain and then the the thumb is just me pulling my hair out and it says minus 400 000 we didn't even talk about it but there's there might have been multiple but there was at least uh one reported very weird scenario of a of a who killed himself, I believe in Ukraine,
Starting point is 01:07:57 gotten to his Lamborghini. Yeah. Brothers, sell the Lambo. I mean... Did you say Kurt Cobain himself? Jesus Christ. Just... Jesus Christ.
Starting point is 01:08:11 So, I mean, this is... You know, people are really... Playing with fire here. These are massive amounts of money. People are leveraging themselves with... Basically, just go into the... To this little online casino we created in... and just...
Starting point is 01:08:26 Yeah, Constantine Gaelic, also known as Castia Kudo, was found dead in his Lambo Yuras in Kiev's Obolonskiy district with a gunshot wound of the head. Apparently, he got wiped out. I mean, be careful out there, folks. The president is armed with a truth account,
Starting point is 01:08:49 and he's ready to use it. The fucked up thing is, this time he didn't even give us a, this would be a good time to short. Yeah. You'd think, yeah, why not do that, sir? Last time he gave everyone of this is a good time to buy.
Starting point is 01:09:02 Anyway, all right, we'll see you in the bonus. What do we have? What do we have? What were we going to talk about that you started to say at the beginning? Oh, many baggers. Oh, yeah, mini bagger boy. I actually do, I finally have a TikTok
Starting point is 01:09:14 to show Ben and I'm really excited. I've got a couple too. It's so nice to show Ben something. I also have a a text from a friend of mine who went on a date with a girl in Austin and this woman is a former model who purports to have
Starting point is 01:09:35 partied with Elon Musk been to Jeffrey Epstein's Island. What? But she was one of the ones who had a good time, apparently, and had a lot of weird things to say. Imagine... He gave me permission to talk about it without naming her. Imagine being the one person who has a good experience with Jeffrey.
Starting point is 01:09:54 I had a good time. He was so nice. They were also nice. I mean, like, the massages just kept coming and coming. Folks, these are some weird things that she said to the point where I was like, I don't even know if I believe this. Good God, man.
Starting point is 01:10:07 Anyway, Ben and Emile Show.com. We'll see you there.

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