The Pomp Podcast - #1488 Anthony & Polina Pompliano | Bitcoin Falls As Elon Audits The Government

Starting point is 00:00:00 What's up everyone? This is Anthony Pompliano. Many of you know me as Pomp. You're listening to the Pomp Podcast, which is my effort to find the most interesting people in the world and sit with them for hours while I ask questions in an effort to learn. So it would mean the world to me if you would subscribe to the show on your favorite audio platform, watch episodes on YouTube, and tell your friends and family about the podcast. My goal is to help millions learn from the world's most interesting people. So let's get into today's episode. What's going on guys? Today we've got a great episode with Polina Pompliano. Polina is the founder and CEO of The Profile. You got to go read it. Go to readtheprofile.com. Today we talk

Starting point is 00:00:39 about a couple of topics I think you're going to be interested in. Bitcoin, why is the price going down? What's going on and should you be concerned? We also talk about Doge and how they are slashing spending and some of the ripple effects both in the local Washington economy, but also nationally and what that could mean for you as an investor. And then we also talk about Fort Knox and is the gold there. People want to know where is the gold at? Fort Knox audit is all the rage and everyone wants to know what's going to happen there. This episode is full of insights. I hope you guys enjoy it. Here's my latest conversation with Polina Pompliano. Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not

Starting point is 00:01:15 reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only. It's no secret that Bitcoin ETFs have taken Wall Street by storm. With over $35 billion in assets in just one year, it's become the most successful ETF launch in history. My partner, Bitwise, is the first and only Bitcoin ETF provider to openly publish its Bitcoin wallet addresses, allowing anyone to verify the fund's holdings. I believe this level of transparency is exactly the kind of innovation that only crypto makes possible.

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Starting point is 00:04:00 And Gemini thinks that's a great thing because a future where money is decentralized, inclusive and globally accessible. That's a future that we are anxious to be a part of. Gemini teamed up with futurists, technologists and designers like award winning artist Matt Griffin, known for his illustrations for Dune, to craft a vision of the future with crypto at its core. The creative theme Go Where Dollars Won't emphasizes exploration, growth and the crypto market's limitless potential. Whether it's going on that Martian safari to capture an unforgettable photo of a herd of woolly mammoths grazing the red planet or using Bitcoin to pay for your Lyft pass to go strata skiing down the mountain peak of a breathtaking comet. Whatever adventures we'll be living, one thing is for sure. In a future this fantastic, the limits of traditional currency simply cannot keep up. Financial innovation will usher in this new frontier.

Starting point is 00:04:49 And so go where dollars won't with Gemini. Go check them out at Gemini.com slash go where dollars won't. Again, go check it out at Gemini.com slash go where dollars won't. All right, Plana, what's the first topic? All right. Bitcoin is down this morning. It's hovering around 95,500. I was reading some media reports that said that the reason it's dampening is because people aren't satisfied with what Trump has done. Stop. This is crazy. Listen, Bitcoin trades like a macro asset. Right now, there is

Starting point is 00:05:26 increasing bearishness on stocks. 47% of investors, based on the survey from last week, now think that stocks will be lower six months from now. So naturally, if people are bearish on stocks, they're getting bearish on cryptocurrency, et cetera. This is the exact moment where you got to not only refuse to get lulled to sleep, do not get lulled to sleep, because when Bitcoin gets you lulled to sleep,

Starting point is 00:05:47 it then usually explodes in either direction. And so it's kind of like, now's the time to pay attention. In either direction. It could go down, it could go up. But the second thing also is when everyone else is bearish, that's the time to actually be bullish, right? Is, oh, everyone else is scared.

Starting point is 00:06:01 Well, there's probably opportunity out there. You see this in the stock market. You also see this, I think, in Bitcoin, et cetera. You used to have to buy Bitcoin for $106,000, $107,000. Now you can buy it for $95,000. That's called discount, right? My buddy Mark Yusko always says that investing is the only place where when there's a discount, people run out of the store.

Starting point is 00:06:19 Usually people run in the store. They're excited. So I think that's a big part of this. The second thing is, yes, Trump on the campaign trail talked about how he's going to protect Bitcoin, do all this stuff. Bitcoin is up. I think it was like $70,000, $69,000 on November 1st. It's up to almost 100K. It is appreciated significantly, almost 50% since the election. So when you look at that, you're like, it's not that people are disappointed. It's actually that it ran up in anticipation

Starting point is 00:06:49 and it's a natural cooling off period. And the last thing I would say is in prior bull markets, we saw multiple 30% drawdowns. So what you would see is 2017, Bitcoin went from $1,000 to $20,000, ran all the way up, it would cool off 30% drawdowns. We're not seeing that. We're seeing like 15% drawdowns, maybe max 20%. And so what that tells me is that there's a lot of buying demand. Every time Bitcoin gets to 90K, all of a sudden it's back to 95K. There's a ton of buying demand. And so what you're seeing, in my opinion, is you're seeing a compression of the volatility. And if you think about where did Bitcoin bottom in the last bear market, it bottomed around $16,000, 16.5, whatever. It's now at 100. That's a far cry from 95,000.

Starting point is 00:07:33 People have asked me about price, future performance. Look, I'm not predicting anything, but if you said to me, I had to pick a price that I think Bitcoin likely is directly going to go towards, I've always said 150,000. And a lot of people are like, that's so bearish. That's so bearish. I see 200, 300, 500, all these crazy numbers. I would love for it to go there. I'm in the boat. Let's go. Let's go as far as you guys want. But in the last cycle, Bitcoin bottomed about 3,200 and it went to 69,000. And so if you just kind of cut that in half, I don't know, it's like 10, 12, you know, X from there. So I've just always thought like 10 X off the bottom is about 150,000. Maybe, you know, maybe it's a little bit higher, whatever, but like that is

Starting point is 00:08:12 the dampening of volatility to the upside. And then you're not seeing the 30% drawdowns. You're kind of seeing these 15% drawdowns. And so you're getting the squeeze where it's trading more in kind of a band. Now, on one hand, there's a lot of Bitcoiners who are like, ah, I really want Bitcoin to go up. I want Bitcoin to go up. Let it go higher. On the other hand, there's a lot of people coming into Bitcoin, pushing the price higher because now they're like, oh, it's unlikely that Bitcoin is going to have 50% drawdowns in a day. There is, again, that dampening of volatility. So as you get mass adoption, you're going to get less and less asymmetry to the asset. But that's how it should work. You get paid the reward for the risk you take. It was way riskier

Starting point is 00:08:47 to buy Bitcoin in 2016 than it is to buy it today in 2025. And so I just think that people always want to kind of get into this game of, I wanted to go up as much as it went up in the past, but you're not taking the same risk you took in the past. So you should expect it to go up less. Now, all that said, I think Bitcoin is very well positioned. We just saw Mubadala, Abu Dhabi's sovereign wealth fund, and one of their funds come out and say that they now own about half a billion dollars worth of the Bitcoin ETF, huge deal. I think it's the Wisconsin Investment Board. they just like tripled their position in the ETFs. You have Russia that's now come out and said that they're mining it. They're using it for transactions. You have El Salvador still buying

Starting point is 00:09:28 Bitcoin. You have many other countries around the world that are all kind of playing and dabbling in different ways. I think the UAE has got a partnership with publicly traded miner where they're mining Bitcoin, et cetera. So like this is happening. The number one question in the world is, is the United States going to buy? And I think if they do not buy, if they do not establish of the Strategic Reserve, that's where you'll get that kind of letdown. People will be upset. They'll be like, hey, I was promised something. I didn't get it. If it happens, even though it doesn't happen in the first 30 days, it happens in the first 100 days or whatever, then people will be euphoric and excited. And so I'll be kind of a nothing burger. Got it. Let's talk about

Starting point is 00:10:01 Doge. The Department of Government Efficiency said that it has found $55 billion in savings through a combination of efforts, including a reduction in the federal workforce. It said it estimated it had realized $55 billion in savings by canceling or renegotiating leases and contracts, selling assets, canceling grants, finding regulatory savings, making programmatic changes to the government, and reducing the workforce. I understand that this is very disruptive and they are able to save so much money of waste. But when something is this disruptive, obviously, it's going to break some things. Do you think there's going to be a downside to all these radical changes? Any downside is worth it. Any downside is worth it because it is micro problems

Starting point is 00:10:53 to solve a macro problem, which is a really important differentiation. It's like when you say short-term pain, long-term. Of course. It's like when you have a fat kid or a fat person, what do they have to do? They got to first stop eating bad food. You got to eat healthy. You got to eat a clean diet. You got to start to actually take care of yourself, right? All of a sudden, your physiological kind of metrics, et cetera, start to improve a little bit, but it hurts. Your body is starved for, it wants sugar, it wants Coca-Cola, it wants carbs, it wants all this stuff. At the same time though, you can't just sit there and just say, hey, I'm going to cut out all this and have a clean diet. You also then have to burn off the fat that you currently

Starting point is 00:11:31 have. So you got to start to work out. You got to go, you got to lift weights, you got to run, You got to do all this stuff. And so that's what we're going through is we got to wake up at 6 a.m. We got to go for a run before work. That's not fun. Nobody wants to do it at first. But over time, you start to build that muscle memory. You start to get your body used to waking up early.

Starting point is 00:11:47 You start to get used to working out. You start getting used to, hey, when it's time to eat, I don't reach for a cookie or ice cream. Instead, I reach for some healthy food, some maybe a chicken breast and some broccoli. And so that's what Doge is ultimately doing. And the problem is that he's getting yelled at and screamed at from the bag of cookies and from the ice cream and from all the people who are going to be on the opposite end of this. And so when I look at Doge, I simply say to myself, people who are trying to stop their progress are likely the people who are most benefiting from the status quo. And so we just have to ask ourselves, do we want a small, efficient government or do we want a big, bloated bureaucracy? It's very clear what the two differences are here.

Starting point is 00:12:27 Now, to your point, there's going to be pain. there are going to be people that, you know, can point to issues that get created. But those are micro problems. Do I hope that they happen? Of course not. I want there to be no issues or anything. But if you're moving quickly, and you're making radical change, then yes, there's going to be issues. But those issues are worth it. Because they're micro problems, in light of us solving this big macro problem, which is probably one of the single most important threats to the United States. What do you think? I don't know. Nothing like this has ever been done before. So hopefully it's a good thing. Obviously, like tightening the budget is a good thing. What is your biggest

Starting point is 00:13:06 concern about them doing this? I don't even know if you're actually concerned, but like what is it like you think? No, I'm just I think you don't know what you don't know. So going into the government and like, you know, firing all these people and like doing all this stuff. Yes, you're cutting out the bloat, but maybe you're also accidentally breaking some stuff that you don't even know that you're breaking but i think that's the point is um it's not like uh they're shutting down um the payments to the federal employees and all of a sudden the the payroll system breaks right what they're doing is they're frankly they're shutting down stuff that people are like oh it's a problem and you ask yourself why are we sending money there right like like the

Starting point is 00:13:47 foreign aid stuff is a great example where uh should there be foreign aid of course there's situations where there should be four and eight. Should we be handing out money like it's candy all around the world? Of course not. And so if you start with a zero based budget, that's the key thing here. If you go into a business, usually what most executives do is a very watered down version of kind of tightening your belt. So what do they say? Say, okay, give me the P&L from last year. I'm going to take that P&L. Okay. We spent $2 million on marketing. Could we get away with only spending 1.8 million. Okay. Oh, I saved 10%. Now that's 10% savings in our marketing budget. I saved 200K. That's a good sign. Instead, what really radical executives do is they come in and

Starting point is 00:14:32 they say, we're going zero based budget. We're going to start from zero. Bring to me any idea you have for marketing budget, but we're going to start from zero. You don't get what you got last year. We're not going to do a 10% reduction. We're going to 100% reduction and we're going to build it back up from scratch. And then usually what you find is instead of having only 10% savings. Now all of a sudden you have like a 60% savings. Because if you were trying to just cut, it's not nearly as effective as rebuilding from scratch. And so that would be nearly impossible for the government to do. But I actually think that would be the single best solution is take the annual budget and say, everyone goes to zero. Come and pitch on why you should get whatever

Starting point is 00:15:08 money you think that you want. And my guess is that 50%, 50% of the money that we spend on, Why 50 percent? Because I figured that one out of every two things that we're spending money on, probably we don't need to spend money on. Is it nice that we spend money on it? Of course, the people who are involved think it's nice that we're spending money on. Right. There's the moralize and make these arguments, all this stuff. But at the end of the day, the true functions of the United States government, it seems like we've pursued all these other things, but we haven't provided the core functions. Homes are unaffordable. The border was unsecure. People literally, if you go look at the surveys, feel like the past is brighter than the future. They're losing hope.

Starting point is 00:15:49 The dollar is being devalued. All these problems, right? I think about veteran suicide. Think about the homelessness on the street. You know, things like the bridge in Baltimore is still not built. The permit issue in L.A. Flint water. Remember that whole issue?

Starting point is 00:16:04 How about the crumbling infrastructure of roads, bridges, trains? You go through all this stuff. You're like, dude, we got a ton of things that we can improve here. Yeah, it's like the foundational things need to be improved. And so, again, it goes back to there's no right answer. If you go to the extreme on one end, everyone's mad. If you go to the extreme on the other end, everyone's mad. I just think it's going to be an interesting experiment of whether you can run a country like a business.

Starting point is 00:16:30 Well, if you are optimizing to balance a budget, you have to run the country like a business. So is that Trump is aiming to balance the budget? Here's what's fascinating. I mean, I literally, I think we talked about it on this episode every week. I definitely made a couple of videos. I was shocked that neither Harris, Biden, or Trump were promising to balance the budget. That was not a campaign promise. Yeah.

Starting point is 00:16:53 But it feels like because of the momentum of this, now all of a sudden, I hear people talking about, are we going to balance the budget? Like there's a path to that. Look, if that was your sole thing you're optimizing for, then what you would do is you would go in, you would slash government spending. You would drastically increase the, you would drastically increase tariff revenue, right? You would also try to figure out other kind of monetary revenue sources, this whole like external revenue source, not only tariffs, but there's probably other things you can do. You could easily monetize the balance sheet. You could sell off. I mean,

Starting point is 00:17:27 it's something like we have thousands of US government buildings that are unoccupied. Why is the government holding all those buildings? Just sell them. Let people build things with them, right? So, all of that, but here's the piece, and I think that probably you and I vehemently agree on, the government isn't just here to have a balanced budget. It also has certain services that it provides or other things that it looks at. And so, balanced budget is really, really important, but it can't be fanatical pursuit of just a balanced budget without looking at other things. But I think I probably lean more towards a lot of the quote-unquote other things. It's crazy nonsense right you know it's just like why are we wasting money stop wasting money not don't

Starting point is 00:18:11 cut the core services but stop wasting money and if you go and you look at some of these programs i mean doge is tweeting this stuff publicly yeah they're just saying hey look here's the the contracts that we're canceling i've never seen that kind of transparency and like i told you i think this used to be the work of investigative journalists who specialize in political reporting but a lot of those people have been cut so now an entity like doge is entering and quote-unquote exposing the the do you want to know one of the things i think that could be really interesting what is there's been a lot of people who said oh these people tend to be more republican because of republican administration they should um uh have a couple of democrat um you know kind

Starting point is 00:18:50 of folks that go with them so that it's more bipartisan um i think i saw mark cuban and maybe rokan i can't remember but with the doge team yeah so like when the doge team goes in right now a lot of people are painting it as like, here come the Republican, you know, government spending cutters or whatever. Well, what if you had a more bipartisan thing, like have some Democrats? Great. Well, it may be great, but also it may slow down Doge because there becomes like the political kind of misalignment. But what I do think would be really interesting is if you could find a couple of these independent journalists, not mainstream journalists, right, because there's too much bureaucracy inside those organizations. But if you went and you found well-respected,

Starting point is 00:19:30 independent journalists, and you said, come with us, help us document this. We're going to do the work. Your job is to document it. I think that you would have this massive explosion of interest because people would say, okay, hold on a second here. Now we're at least seeing what's happening, not just the end result of we canceled these contracts, but this person is able to constantly do that. So what does that look like? It's kind of like the White House press corps. Imagine if Doge had a press corps where they did two or three press conferences a day where they basically said,

Starting point is 00:20:00 hey, this morning, here's what we found. Okay, this afternoon, here's what we found. We're gonna come back tomorrow. Here's what we're gonna do. And they just kept doing that over and over and over again. They would dominate headlines. They would get people's support behind them. And then all of a sudden,

Starting point is 00:20:11 you would have these independent journalists that are actually covering, what are these contracts? Who's benefiting from this stuff? That is kind of the level two or level three of this whole work that I just don't think that they're there yet. I got to say, I am no conspiracy theorist, but that is crazy that the web searches in D.C. are spiking for criminal defense attorneys. That's wild.

Starting point is 00:20:34 Why are they doing that? I mean, I guess if you think that they're going to come after you for something, you're being proactive. There's a couple of things in D.C. 4,000 homes got listed for sale, which crashed the housing market. The average home in D.C. lost $130,000 to $140,000 worth of value. The average home. That's how much inventory got put on the market. So these are people who are taking the severance payments.

Starting point is 00:21:00 They're getting fired, et cetera. The second thing is unemployment is already spiking in D.C. Obviously, people are losing their jobs. The increased search results for paper shredding, criminal defense attorneys, all these things, whatever. The question is just like, what was the base? It was like one person in D.C. was, you know, previously looking for a criminal defense attorney. And now there's five people. Well, that huge increase obviously would lead to this massive increase on the charts.

Starting point is 00:21:31 I don't think it was one, obviously. So there is a material increase. I wish that we knew how many more people. Right. Is it being driven by because 100 people did it or is it being driven because, you know, 2000 people are doing it? The kind of magnitude of the nominal number would be really important, but the trend don't lie. And so I think there's a lot of people who are just saying, hey, you know, maybe I should start paying attention here. It looks like they're pretty serious.

Starting point is 00:21:57 It is. I think that the most shocking thing to every American is at the speed at which they are operating. I think normally we're used to a new president coming in, making a bunch of promises, and then things happen slowly. But I think with the speed and decisiveness that this has happened is the most surprising thing. They're actually doing things. They're actually like going in and like making changes. Well, so there was a there's a clip that just came just came out. It's Elon Musk. And he's talking about the fact that they have now built an XAI, the single best AI model.

Starting point is 00:22:39 And the results just came out in the last 24, 48 hours. And he's sitting there and he's talking about how they did it. Now, a huge part of AI models, not getting into all the nerd talk, just kind of generally, is the more computing power that you have generally means that you can build a better model. But you got to remember, this is hardware. It's not software. It's hardware. So you got to be able to build a physical infrastructure. You got to go get all these computers linked up, et cetera.

Starting point is 00:23:01 And so what he says is, OK, well, we went to a bunch of data center and they didn't have enough space. It's totally going to take 18 months. So we said, well, we got to do it ourselves. So when we found a factory in Memphis, Tennessee, and then we realized that, OK, okay, we're going to put all these computers in there, but there's not enough power in the building. So we went and we leased a ton of generators and we lined them up outside

Starting point is 00:23:20 and then we were able to now generate it. But now we need cooling because if it's hot because of all the generation of power, we've got to cool it off. So he says that they leased one fourth of all mobile cooling technology in the United States and they brought it to this facility. And on the other side of the building,

Starting point is 00:23:36 they lined all that up. So if you think about this, this is like classic Elon Musk, is figure out the problem, understand what the solution is, and then go execute. He has built what is believed to be the largest data center

Starting point is 00:23:47 in terms of these AI training clusters. And he did it by, frankly, doing things that other people weren't willing to do. I just don't understand how he has the time. Well, remember, he's got really good people around him.

Starting point is 00:24:00 Yeah, yeah. And a huge part of it is these people are bringing to him, here is the problem, and he's making decisions, right? It's not like he's the one who's physically going and setting up the power

Starting point is 00:24:10 or liquid cooling or stuff like that. So tell me really quick about this Fort Knox thing that Elon Musk wants to go to. Do you know about Fort Knox? It's a military base. Yeah. It used to be called Camp Knox. Okay.

Starting point is 00:24:23 Then eventually it became Fort Knox. And the general idea was at some point, the United States believed in kind of the 30s that that was the best place to secure the gold. And so somewhere- The gold that the United States government holds. Correct. They put that into Fort Knox, and Fort Knox has never really been audited on a consistent basis.

Starting point is 00:24:46 And so people have long thought, well, maybe the gold's not really there. And if you go and you look at – Is this like a conspiracy theory on the internet, or is this like a wide-standing American belief of people? Well, most conspiracy theories are wide-standing American beliefs that just haven't become popular yet, according to the last five or six years. But in this case, it is very quickly going from, you know, kind of conspiracy theory to wide held question. I wouldn't say it's a belief, but a question. And the thought process is a senator recently tweeted and said that he called up Fort Knox and said, I want to come see Fort Knox. And he can't come. And he said, I'm a senator of the United States. I go to military bases all the time. Why can't I come? He said, can't come. He said, I want to see the gold. He said, can't come. So he said, that's weird.

Starting point is 00:25:29 And so then Elon Musk, quote, retweeted it. And he basically was like, well, we should just see the gold. I want to do a walking tour of it. And I'm going to live stream it so the American people can see their gold. Now, my general thought process is, man, would it be interesting if everyone who's worried about there not being enough gold? What if there's more gold? What do you mean? What if we have more gold than they're telling everyone? Why would they not tell us?

Starting point is 00:25:51 Well, I saw somebody tweet this online. I thought it was very, very interesting. I was in Iraq. Many people who went to Iraq, Afghanistan, many other places around the world. Saddam Hussein had a lot of gold. where'd that gold go who has that i don't know i have no clue do we sell it we definitely confiscated it how do i know i have friends who have pictures literally sitting in this palace with their feet up on his desk holding a bar of gold where'd all that stuff go and so again i

Starting point is 00:26:22 don't know it could be that we sold it off it could be that we left it in iraq it could be like but there's a lot of gold and that was just his palace that doesn't include anything else Where did the Iraq central bank, where their assets go? Like there's all this stuff, right? So maybe actually we've been acquiring more assets than have been publicly revealed and it's all sitting there. And so we went to audit it. We'd be like, Hey, we thought we had, you know, $500 billion worth of gold.

Starting point is 00:26:46 Actually, we've got, you know, so much more. I don't know. And so I think that, again, it goes back to this idea of, um, man, the conversation's changing really quick. all of a sudden the world's richest man who now is you know kind of like a special advisor or employer or whatever at the government is saying i'm just gonna walk through and live stream it this is the age of the internet transparency rules the day this is what i'm saying i just i think that every sector of the government just is not used to this of course not and

Starting point is 00:27:17 it worries me that i don't know i'm just when something radical happens like this people hate transparency why people hate the press you know usually if they're doing a good job you don't like the media because they're doing a good job but you when you're thinking about this i think you probably got like butterflies in your stomach right you're like ah but i i think you're thinking of those as uh you're nervous you're you're worried i think that's excitement i think you're actually saying to yourself imagine if no no it's everyone is like i'm all about more transparency I'm saying that, like, it makes me nervous as to, like, the crazies that could come out from the shadows if their stuff is now out in the open, you know? Oh, that's crazy.

Starting point is 00:28:04 We haven't even – we're at the tip of the iceberg right now. He hasn't even gone into the real stuff, right? And I don't know if you've seen that now they're having the big crackdown on the PPP loans. I need him to go investigate the aliens next. Listen. Listen. Should I give him the idea? Yeah.

Starting point is 00:28:22 Um, I do think that there is, uh, a pretty interesting, um, thing happening where people were doing a lot of crazy stuff. They're taking advantage of the government, right? We're talking about other countries with tariffs and stuff, taking advantage of the United States, American citizens were taking advantage of the government. And so PPP loans, all of a sudden there's a huge crackdown and they're going to these companies and they're saying, dude, you got tens of thousands, hundreds of thousands, millions of dollars.

Starting point is 00:28:46 You didn't need that. You literally committed wire fraud, bank fraud, like all this stuff, cracked down. Same thing has happened at the national government level. And so let's pull this back real quick to just business and investing. Hopefully, what is going to happen is we're going to have more transparency of data, which will allow people to better understand what is the national debt, what are America's assets, what is going to be the inflation rate, what are all of these economic data points that are important. Let's make sure they're real. Make sure they're accurate. The second thing is that companies, both in the private sector and in the public sector,

Starting point is 00:29:20 are going to start, or a public market, are going to start being really on top of it, right? I was listening to a podcast the other day with Terry Smith. Our friend William Green did it. And he said that at one point, I forget which company, I wish I remembered, but I want to say it was like IBM, don't hold me to that, but I think it was like IBM. He said that he was looking at their books and he called up the company and said, hey, we just can't make the math work. like? It looks like there's like a $2 billion shortfall somewhere. What are we missing?

Starting point is 00:29:48 And IBM called them back or whatever the company was and was like, oh yeah, sorry, we made a mistake. And they're public filing. Nobody caught the math. And he was like, we just felt like maybe we're the only people who went and looked at the math. Right. And that's a publicly traded company. And so it just goes back to this idea of technology is going to solve a lot of this too. Right. If we can start to just use technology systems to talk to each other, to do this, like this is the messy middle that we've got to kind of work through but i do think eventually that we're going to get to a place where this is going to end up being uh um okay it's just going to be a little painful on the way a little bumpy of a ride but uh if you arrive safe at your

Starting point is 00:30:24 destination all is good in the world great that's all we got for today thanks so much for doing this

The Pomp Podcast - #1488 Anthony & Polina Pompliano | Bitcoin Falls As Elon Audits The Government

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