The Wolf Of All Streets - Bitcoin Will Skyrocket, Everything Else Will Go To Zero | Max Keiser & Stacy Herbert

Episode Date: January 18, 2024

Join Max Keiser and Stacy Herbert as we discuss the future of Bitcoin. Dan from the Chart Guys will provide his market outlook.  Max Keiser: https://twitter.com/maxkeiser Stacy Herbert: https://twitter.com/stacyherbert The Chart Guys: https://www.youtube.com/@ChartGuys ►► DevvE DevvE is a next-generation cryptocurrency - DevvE addresses Bitcoin’s most significant weaknesses - regulatory compliance, energy consumption, costs and speed! 👉 Follow DevvE on X for Updates: https://twitter.com/DevveEcosystem  👉 Join the DevvE Telegram group to stay in the know! https://t.me/DevveOfficial  ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEK DAY! 👉https://thewolfden.substack.com/   ►►OKX SIGN UP FOR AN OKX TRADING ACCOUNT THEN DEPOSIT & TRADE TO UNLOCK MYSTERY BOX REWARDS OF UP TO $60,000!  👉 https://www.okx.com/join/SCOTTMELKER  ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. USE CODE ‘2MONTHSOFF’ WHEN VISITING MY LINK.  👉 https://tradingalpha.io/?via=scottmelker   ►►THE DAILY CLOSE BRAND NEW NEWSLETTER! INSTITUTIONAL GRADE INDICATORS AND DATA DELIVERED DIRECTLY TO YOUR INBOX, EVERY DAY AT THE DAILY CLOSE. TRADE LIKE THE BIG BOYS. 👉 https://www.thedailyclose.io/   ►►NGRAVE This is the coldest hardware wallet in the world and the only one that I personally use. 👉https://www.ngrave.io/?sca_ref=4531319.pgXuTYJlYd ►►NORD VPN  GET EXCLUSIVE NORDVPN DEAL - 40% DISCOUNT! IT’S RISK-FREE WITH NORD’S 30-DAY MONEY-BACK GUARANTEE. PROTECT YOUR PRIVACY! 👉 https://nordvpn.com/WolfOfAllStreets   ►►COINROUTES TRADE SPOT & DERIVATIVES ACROSS CEFI AND DEFI USING YOUR OWN ACCOUNTS WITH THIS ADVANCED ALGORITHMIC PLATFORM. SAVE TONS OF MONEY ON TRADING FEES LIKE THE PROS! 👉 http://bit.ly/3ZXeYKd  Follow Scott Melker: Twitter: https://twitter.com/scottmelker   Web: https://www.thewolfofallstreets.io   Spotify: https://spoti.fi/30N5FDe   Apple podcast: https://apple.co/3FASB2c   #Bitcoin #Crypto #maxkeiser  Timestamps: 0:00 Intro 1:20 Bitcoin are balls 4:30 Bitcoin ETF 7:00 El Salvador 10:30 Fiat will lose 13:00 Bhutan - next to adopt Bitcoin? 14:00 Volcano energy  16:00 Life in El Salvador 19:00 Adopting El Salvador 22:00 Jamie Dimon & Bitcoin 32:00 Bukele will win again? 34:00 Will Bitcoin test $40,000? 36:00 Miners - when to buy? 38:00 Marijuana  40:40 Uranium 43:40 Bearish on energy 45:00 $100 giveaway The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

Bitcoin will skyrocket and everything else will trend to zero versus Bitcoin. It's a bold claim that many have made and one that I happen to truly believe may come true. And certainly Max and Stacey think is likely in the future. And nobody is closer to Bitcoin and what's being built than the two of them, especially in El Salvador. We were actually going to have them on the show last week, but they couldn't do it because they had to have a casual meeting down at the central bank that, for some reason, was interfering with my big plan. So I think it's fair to say that they're

doing big things in El Salvador. And I can't wait to get an update on all of that and everything that they're building there. And I really can't wait to hear what they think about the Bitcoin spot ETFs being approved in the United States. Guys, you definitely do not want to miss this conversation. Let's go. What is up, everybody? I'm Scott Melker, also known as the Wolf of All Streets. Before we Let's go. But Max, you've given me the most memorable moments in the history of my show. Max Keiser Oh, of course. That's what I do. That's what I'm good for. Max Keiser Bitcoin's got balls. Max Keiser I have the quote.

You know, I don't want to do it. I'm going to play it. We're literally here. Max Keiser So America has to decide, do we want to be taking orders from other countries because we don't like balls? Or are we going to man up and say we have balls and we're not going to take orders from india china russia and iran we're at the risk of being a subservient housekeeping you know house boys rent boys there's a nation of rent boys in america that'll be servicing iranian chinese

russian and indian men and and women that's what we're going to end up doing, Scott, unless we get fucking our balls out and start to represent that we have values here. So Bitcoin, everything about Bitcoin represents- Scott Cardani 05.00 And you want to have balls and you want to compete like a man, buy Bitcoin. If you're a man and you want to stop being without balls- Or just have bigger ones. Scott Cardani 05 bigger ones have bigger balls

buy buy bitcoin and and you will take care of your gonad problem so bitcoin it are basically our balls that that's what i think what we're saying here scott bitcoin our balls bitcoin all right we never got it trending i don't think Bitcoin are balls. Has anything changed about what you were saying there, Max? No, I stand by those words and even more so, you know, because what's happening is, as you see with Wall Street now coming into Bitcoin with the spot ETFs, Larry Spink decided he wanted to have balls. And over there, Franklin Templeton, they look like they're going down the vagina route, right? Because they're going down the shitcoin route. They're talking about Web3. They've got their vagina out, which is not what we want. We want balls.

We want testicles. We don't want vaginas in the Bitcoin space. We've got Kathy Woods. She's got balls, right? Which is interesting because she was born with a vagina, but she's got balls. With her ETF, ARKB, she's Bitcoin-centric. She understands the Bitcoin philosophy and ethics. So I stand by my word, Scott.

We broke that story, and it's become ever more important. I was actually a bit surprised when they just interviewed Cathie Wood and she said that she had 25% of her personal net worth in Bitcoin, even outside of the company. So clearly she is a real believer. I mean, I bet you guys want her to trend a little higher than 25%, right, Stacey? But that's a pretty damn good start for somebody with that much exposure to every asset on the planet. Actually, she was very early. Remember, she's been in Bitcoin since 2014, just like Abby Johnson from Fidelity. So it's actually the banking women, the Wall Street women who were first before all the men, I have to say. So Bitcoin are balls, but with a female face.

Yeah, everybody can have balls in the grander sense, for sure, I think. Now, I do want to talk about these Bitcoin spot ETFs. You mentioned Franklin Templeton. That was a little nuts yesterday. For anyone who didn't see, I think they let a drunken intern take over their account who started talking about Solana meme coins and what the fuck. But I think conceptually, we can clearly make the case that Wall Street is here. The institutions are interested. We have more than 10 of these ETFs trading. Is this a good or a bad thing for Bitcoin in your mind? Well, it's definitely a good thing. I think it also heralds a new era for Bitcoin as we get into this good thing. I think it also heralds like a new era for Bitcoin as we get into this having. I think from 20 to 24 was the era of Michael Saylor. He defined that

epoch of Bitcoin with his big, big buys of Bitcoin. And now we're entering into a new era, the Larry Finks of the world. And I'm looking over there at the Middle, Mideast at Saudi Aramco, you know, is a huge company with a lot of cash. I think they should get into Bitcoin. I think these are going to be the new mega players in the sovereign states and the sovereign wealth funds who are going to start buying big into Bitcoin. So it's this new era that we're entering into. And we should say thank you to Michael Saylor because he did a fantastic job in taking Bitcoin. In my view, he took it out of the gutter because when he was he appeared on the scene,

people were in the shit coin world like the Bitcoin cashes and the Bitcoins, Satoshi Visions and all these other coins and projects and failed nightmares had some agency. People did give them a little bit of play. But when Michael Saylor appeared, and he was so articulate and so brilliant and so aggressive in his Bitcoin position, then he really put everybody in the shade. And he did a great job doing that. And he's, I think, really a hero, a Bitcoin hero. I agree. I think he'll be viewed in history as the most legendary investor of all time, to be quite honest. And I'm prone to hyperbole, but I really believe that that's what's going to happen. And it was a lot of fun watching people laugh at him on the way down when you know who's going to end up with the last laugh.

That was 2021 that you and I talked. Obviously, Saylor came in MicroStrategy at the end of 2020. And you'll remember at that time, there was this sentiment that every company was going to put Bitcoin on the balance sheet. We saw the El Salvador announcement hours after you and I sat down for that interview. We thought every country was going to start adopting Bitcoin. And it kind of stopped there. And we went through one of these classic winters. Do you think that we're going to now reignite those narratives, that we're going to start to see that happening, especially with the cap accounting rules changing and really more renewed interest?

Or do you think that we haven't gotten there yet? It's hard to be first. And I think we have seen that, right? Michael Saylor be first. And I think we have seen that, right? Michael Saylor was first. And I think, well, also you have to remember that Elon Musk was also involved and put that on his balance sheet and still has it on the, I believe it's the Tesla balance sheet from that same period, right after Michael Saylor. So to be fair, he has stuck with his Bitcoin position, most of it, at least on Tesla's balance sheet. And so those, Michael Saylor will go down in history as the best investor. But certainly President Bukele will go down in history as one of the greatest leaders ever in history.

So I think you'll see that. And yes, when it's super, super safe and when pretty much the U.S. gives the go ahead, then other countries will follow because it is very difficult to stand up against the humiliation. Michael Saylor did, right? As you said, people were mocking him, but many people were mocking him as it kept on going down and down and down. The same thing happened with El Salvador. We were here, we've been working for President Bukele, and we know what it was like to withstand all of the, not only the media, but the international institutions who were expressed concern about El Salvador and things like that. So I think most people, that famous video of the, you know, the first, the leader goes out there and dances, and then

it takes a while of being out there looking like a fool. And then the second one comes and dances with the first leader, and then a whole crowd comes. So I think whoever, there will be a second follower to El Salvador soon, I feel, in the next 18 months, because the bull market, this bull market usually drives that sort of adoption at the high level. So I think there's going to be another smaller country like El Salvador. El Salvador is almost like a city state, right? So it's six and a half million people here. That's smaller than New York City. So I think you'll have a similarly, maybe a little bit bigger, but it'll still be a relatively small country

do the same. I think El Salvador was also the unique position where the dollar was their currency, so they didn't have to worry about the United States attacking their currency by doing this. And so we obviously, I think, saw a lot of countries start to make the move in that direction. And to your point, we saw the IMF and World Bank and the United States come out and say, I don't think so. So how do we get over that hurdle, I guess, is the question. I mean, Max, you've hinted at other countries coming in, but it's going to take maybe even bigger balls than Bukele did for a lot of them to do that, unless they're on the dollar as their currency. Yeah, well, we have the collapse of fiat money. I know the fiat money experiment,

which is about 300 years old, and then it got very aggressive in the early 1970s in the US when they went off the gold standard that we want on a pure fiat money world. So the results of this are predictably catastrophic, right? The total jet debt for global debt is just skyrocketing to new highs. The U.S. debt keeps going up. And so we're going to head into the big reset at some point.

And in one corner will be fiat money. In another corner, which includes CBDC, Central Bank Digital Currency. That's another fiat money. Another corner will be gold. And then in the other corner will be Bitcoin. So it'll be a showdown between these three forms of money to see who wins. And I think the smart money is on Bitcoin.

Certainly fiat money is going to lose. I think gold is also in the process of being demonetized by Bitcoin. Gold is very sluggish in its price action because of Bitcoin. It's being demonetized by Bitcoin the same way gold demonetized silver. Gold is being demonetized by Bitcoin. So it's never really going to catch up at this point. And it'll go effectively to zero against Bitcoin. I mean, it'll, there'll still be a price for it, but it'll be effectively zero. I think people freak out. People freak out when I say go to zero, it's trend towards zero guys. We don't literally think that everything's going to have zero value. Come on here. Go ahead. Yeah. Well, the same way until we get to the final Bitcoin is like a hundred and something,

20 years or something out in the future. The same thing with these currencies. But I think the important thing to look at is the closer one is to layer one money and the three... It's hard to be layer one money. Everybody thinks just because there's like 2 million altcoins and there's hundreds, well, like dozens of international currencies, that it's easy, but it's not easy. That's why they so many of them go rapidly to zero, we have gold, the US dollar and Bitcoin, and those three, right. So El Salvador was already on the US dollar standard. Anyone, any country, the closest to either US dollar standard, or all of those oil rich countries, which sell their commodities for, you know, their oil for dollars, all commodity countries, they sell their, their current their commodities for dollars. So those are pretty much on a US dollar standard as well already because of the vast amounts of dollars they receive. So it's easier for them to therefore also introduce Bitcoin because they're, they're not at risk of having no other

fiat currency, the best fiat currency out there, right? So it could be the oil-rich countries. It could be Bhutan, by the way, as well. So oil that they sell or vast quantities of previously stranded energy. And Bhutan had a mass amount of stranded hydro. So now they're apparently mining. We don't know how much they're mining, but it looks pretty significant. So they're already pretty much from what we've seen on a Bitcoin standard already as well. Yeah. People aren't talking about the fact that there's a number of sovereign nations that are mining Bitcoin, whether they've made it legal tender, which is a bigger headline, they're adopting it. Right. And that was a huge one, Bhutan and people, it almost didn't make the news. I mean,

you're wearing a Volcano Energy hat, Max. What's going on down there right now at the volcanoes? Oh, right. Well, Volcano Energy is a new startup here in El Salvador. It's a billion-dollar startup. It's a unicorn right here in El Salvador. And we are in the business of solar, wind, and geothermal energy mining and with an emphasis on geothermal that will be rolling out more aggressively over the next few years. And so El Salvador has aspirations to be completely energy independent and to be an energy powerhouse and to be a Bitcoin powerhouse and to grab a significant portion of the global hash by tapping into our volcanoes, right? We use the model of

Iceland. We're very familiar with Iceland and their geothermal Bitcoin mining operations. We've been following that for many years. And we kind of took that knowledge here to El Salvador. The company was started up just less than a year ago. And it's really hit the ground running, doing very, very well. And you should just continue to see some good problems coming out of the volcano energy. And in terms of the country itself as well, we're proving that, again, El Salvador has the most amount of geothermal capacity per capita in the world. So it's previously been totally untapped. There haven't been any geothermal developments here since the 70s. So now Bitcoin gives a reason to tap into that geothermal

because previously, you know, there needed to be a vast industrial base here to make it worth investors time to invest because remember, it takes three to five years to develop a geothermal project. So now we have that reason. Bitcoin, we know the emission schedule. We know the hash schedule, like we could predict the hash rate going out into the future. So we know how to tap into that. So it's the energy capacity that we're going to build and that they're building at Volcano Energy. Max is the chairman. They're building the geothermal, which should drive down prices for all of El Salvador, which could inspire more economic activity and more industrialization, more economic activity here that had previously been unimagined.

What's life like on the ground in El Salvador for Bitcoin adoption right now? You know, it was like everybody was watching it very closely at the beginning. And as with anything in this sort of spastic news cycle that we have in the world, it sort of disappears and we haven't heard much about the adoption. How are the people reacting to it at this point, you know, in 2024? How much is it being used? How much is still being talked about? Talk about this life in el salvador with bitcoin i would the adoption metric that we look at the most at the high level and you know i run the bitcoin office for example we look at how many

of the best and brightest individuals and companies around the world of Bitcoin are adopting El Salvador because it's the brains and the talent that build a great economy. And so think of Silicon Valley and how it developed. It wasn't the coffee shops and the bakeries in Silicon Valley area, in the Bay Area, that were adopting an email address or had free Wi-Fi in the 90s. It wasn't that. That was the metric that everybody looked at. And yet that's a metric where people or the media will often look at El Salvador and look

at all the coffee shops and the cabusseries to see if they're using Bitcoin, where we believe that in Silicon Valley, what you know the capital markets developed there around this industry of software development and you know the internet and we believe we're doing the same here we're building um we're we're attracting the best and the brightest the best builders of bitcoin because you can't build a great economy without builders and we're attracting those builders here and we're you know we And we've passed all the legislation and regulations for new capital markets on Bitcoin. And you're about to see in the next few weeks what we're going to do with that. You're going to see some big announcements on top of new capital markets on Bitcoin. So that's what

we're aiming for. And then the rest will follow. Just like, you know, you can look back at the 90s and all the media interpretations of what the Internet and how Paul Krugman's and Katie Couric. Remember all those clips of them? Like, who would want an email? Like, you know, the same thing. We're at that phase now. And people don't know what metric to look at, but I believe the metric that is most important for us right now at the beginning of this is getting the best and brightest builders in the world to come build the new El Salvador. I love that. You guys talked about, go ahead, please. I was going to say, by the way, as part of that program of the policy of attracting the best and

brightest, we have just introduced a new, pretty interesting program called Adopting El Salvador. So we're seeking out the wealthy best and brightest who want a fast track to citizenship. And this program is actually, it takes like four weeks, maybe six weeks at most to get your passport. That's the million dollar program effectively that everybody was talking about, which I believe I read is going to go up. It's not going to stay at that price. For this year, we have a thousand spots open and it's a million dollars donation.

And what you're donating to is to social, cultural and economic development in the same vein of what you've already seen from President Bukele. And I don't think there's anybody in your audience, even haters, right, of El Salvador. They all can recognize that there's been an amazing transformation of El Salvador, that the transformation here is remarkable and it is historic. You know, five years ago, El Salvador was the deadliest, most dangerous country on Earth. It had the highest homicide rate in the world. Now it's one of the safest and we're on track to be actually in the

very top safest of the world. We're one of the, we're like the second safest in the Western hemisphere, but soon we'll also be up there with Japan and Europe in terms of the pace of the safety here. So your your donation your million dollar donation goes into that so i mean we're seeking builders there are other jurisdictions for example if you want to just avoid taxes and that's the only reason you're interested in the second passport there are cheaper options but we're looking for uh builders and this very specific mindset because that mindset is important. President Bukele talked about it on September 15th, which is Independence Day here to the nation is like,

okay, I've transformed the country and the perception of the country from around the world. And now it's time for you, Salvadoran people to change your mindset and get ready to build and start having confidence to build. And we're inviting those individuals. The price tag and the marketing of it is targeting just 1,000 people out of 7.5 billion people around the world. We just need 1,000. And we believe we can radically improve and transform this economy. I love that. I really do. It's funny you alluded to maybe there'd be haters of El Salvador. I don't hear that anymore, to be honest, right? I think at the time you just sort of outlined,

everyone was like, well, maybe he's a dictator and maybe it's dangerous and all these things. I don't hear any of that anymore. I think everybody actually has a favorable view. El Salvador is winning. Yeah, I really do. El Salvador is winning. You guys said something amazing when you were talking about the dollar, gold, Bitcoin, I really do. El Salvador is winning. You guys said something amazing when

you were talking about the dollar gold Bitcoin, right? Jamie Dimon yesterday, Bitcoin is just a pet rock. Doesn't seem to know that AML and anti-money laundering are both the same thing. And if you use Bitcoin for anti-money laundering, I guess that would be a good thing. The way he said it, I don't know. He seemed very confused, but he says it has no use case. Does he not understand money, Max? I mean, what do you make of him? And by the way, I've never seen a more triggered person. He said, I'm never talking about this again and was talking about it like 30 seconds later. I'm pretty sure it's living rent free in his head. It's what he talks about with his wife at night. I'm pretty sure he can't

get Bitcoin out of his brain the way he talks about it. Well, Bitcoin triggers public mental breakdowns, nervous breakdowns. Nassim Taleb, it had a very public nervous breakdown in the face of Bitcoin. Jamie Dimon is having a very public nervous breakdown. If I were the board of JP Morgan, I would be concerned because he seemed to be mentally incapacitated and should not be on the board. He should not be running that company. And we've seen some other examples of executives who, you know, look at the Jim Kramer. He's obviously been transformed from being just reliably unpredictable and inconsequential to being an outright publicly melting down clown by Bitcoin. So this is what Bitcoin does. It separates the wheat from the chafe. It's a great divider. I say Bitcoin's not for everybody.

It's like in the Bible that says the path narrows. You have to constantly be working on yourself to be your moral, your ethical, your own. You have to work on yourself constantly to keep up with Bitcoin because Bitcoin is perfect money. lens the fiat money and all the nonsense you will be destroyed by bitcoin and we say that bitcoin is kind of like the ark you know salvador is like the ark and that not everyone's going to make it and the the gene pool may not have jamie diamond's family in it anymore because they have made themselves extinct by going with the wrong that they've taken the wrong, they've hard forked themselves from humanity, which is maybe great for us because we don't want those genes in the gene pool going forward. They're too stupid. He's just too stupid. That's the bottom line is that he's a guy who has achieved his success by essentially he should definitely have imposter syndrome for real. He's an imposter, essentially.

He's closer to the money. I want to add. And by the way, is my audio still working? Because as I told you before the show, we have a new computer here. So I have to load all the software. And I did get a notice that I have to load all the software. And I did get a notice that I have to pay for the software that I downloaded. You're still working. Oh, good. But President Bukele often tweets about strong men create good times. And you know that

whole cycle of strong men create good times, good times create weak men, weak men create bad times, bad times create strong men. So the same thing goes for money, right? And I believe what you're seeing, what Max is expressing there is that the weak money, which is the dollar, it was weakened over time. It started out very strong because it was backed by a growing industrial powerhouse, which was the US. And then it was swapped out and backed by, well, it was no longer backed by gold and then it was backed by oil. But now the entropy of the empire is the only thing that backs it and it's not very attractive. So the weak currency has created weak men. It's just all weakness. That's the problem with proof of stake. And one thing about El Salvador being on a Bitcoin standard is that I think, as Michael Saylor says, Bitcoin breaks all your cycles, all your models, everything, right? So I think

this could be the thing that stops that cycle. So President Bukele, his leadership is strong. He's a strong character with strong principles. And we see the results. That's why there are no haters out there anymore because we're winning. El Salvador is winning. It's hard to fight success. It's obvious success, right? It's hard to hate on it. So he's created the conditions for now the good times.

But if the economy is run on a Bitcoin standard, I think the good times should last while the hard money standard lasts. I don't think you're going... Because the hard currency keeps people honest. It keeps them having to work. You have to keep working to there's no proof of stake in bitcoin yeah he's like a don quixote figure chasing windmill uh jamie diamond that is jamie diamond he's like a dog dot figure chasing windmills um with his poncho you know a comical sidekick whoever is the vice chairman of that albatross nightmare failed bank. And so it is comic, right? We read Don Quixote because he's a tragic comic, tragic figure. And this is Jamie Dimon has become a tragic comedy. It's tragedy because he's

emblematic of a dying empire of the US dollar and America. But it's also a comic because he's emblematic of a dying empire of the US dollar and America. But it's also a comic because he's taking on a foe that he can't possibly ever have any impact on. And that would be Bitcoin. So we have to take it in that context and get a good laugh at Jamie's expense. And a lot of people fall into that category. And, you know, we're at an interesting point in history where, you know, the cycles are turning. We also say that if everyone believes in the fourth turning and that the world revolves around these huge cycles of good and bad, that as the world in general is entering into a fourth cycle negative period, actually El Salvador is the first one out of that cycle.

It's actually now in a high growth period. And we say that it's leading the world in this way, that the new Statue of Liberty is the volcano in El Salvador. El Salvador has become the place to be if you want economic freedom, if you want freedom of expression. El Salvador is the new America in terms of the mindset that America used to represent. It's now only found in the whole world. It's really only found here in El Salvador. I also want to say that there's a bizarre thing called projection that really has happened so hard out of the US, the so-called the self-described elite, right? So Hillary Clinton calling everybody deplorables when she was the deplorable. Bob Menendez, Senator Bob Menendez, he was the one leading the attacks, the hate against El Salvador

very early on, if you remember, he was saying Bitcoin is a haven for money launderers. He's correct. Yeah, he's a money launderer. And hello, he got caught with bars of gold hidden in his walls, right? And stacks of cash. No Bitcoin, just dollars and gold, right? And then Jamie Dimon, like it was, everybody was, of course, it's comical. He was like, but Bitcoin, the only use case for it is money laundering a drug dealing and sex traffic and it's like um what has jp morgan had to pay fines over the past literally three years for a jeffrey epstein a drug running remember that ship with a billion dollars with the drugs that i think it was in pennsylvania then there was of course the tens of billions on all the money laundering money

laundering it's like they pay like 10 billion a year or something and just move on with their lives. And they also had the nickel plated gold. Yes. The projection is insane out of him. The market manipulation, all the commodities market manipulation they were involved in and pay fine for. Yeah. I mean, another Anthony Perkins in-Ed where he, you know, he's the,

he killed his mother. He, he, he's got his mom rotting in the, in the attic. You know, it's his brain has truly been corrupted by the presence of perfect money because it revealed to himself. The problem is that

people are, can be good at lying to themselves their whole careers, their whole lives, and they can die never having to face the truth about themselves. The Bitcoin is a mirror that holds it up to you. And when Jamie looks in that mirror of Bitcoin, he sees a very ugly, dysfunctional, brain damaged troll that's working for the fiat money masters. And it hurts him badly. And you can hear it when he goes on TV and he's crying and he's in a fetal position and he's asking for mommy. And you see it. And on one hand, it's tragic because it's emblematic of America. But on the other hand, it's comical because he's a grown man. He should win.

He never went through puberty. Right. He must have had puberty blockers a long, long time ago because he's still in a poo poo caca phase. He's still wearing his diapers. He never got potty trained. Jamie needs to get potty trained. He needs to grow up. His balls haven't dropped. Talk about

balls. His hasn't dropped yet. He's still an infant. No balls. I got to say that, Stacy, this is so much more fun when I get to watch your reactions while it's happening. It makes it so much more entertaining. We're out of time, but can you guys promise me? You said there's some big announcements coming.

Can we do this again when those announcements drop and talk about what's happening further in El Salvador? Because I need like three more hours with you guys. Oh, yes, definitely. After the landslide victory on February 4th. So that's when President Bukele will be elected on the landslide victory. All the polls, international polls, opposition polls show he's going to win big time, right? And sweep the entire Congress here, the legislative assembly. So his party is expected to win 57 or 58 of the 60 seats. So it's going to be a total landslide, right? After that, after February and all the political season is over, then we have a whole bunch of announcements, great announcements to make. So watch this space. And if you're

interested in adopting El Salvador as your home, you could do it very fast track with it by the end of February, by the end of all these big headlines, you'll have your passport. And that is adopting El Salvador dot G-O-B, B-B-R-A-V-O, you know, for Gobierno, G-O-B dot S-V. So adopting El Salvador dot G-O-B dot S-V. And you'll find all the information at the end. Yeah. And I'll tell you, most people listen to it after, go b.sb. So adopting El Salvador dot go b.sb. And you'll find all the information at the end. Yeah. And I'll tell you, most people listen to it after not live. So we'll, we'll, we'll drop it down in the comments and make the, make it happen. Awesome. Thank you. Like six minutes

over. Thank you so much. I appreciate it. And, uh, your new computer is working great. It's fine. Thank you guys. Always a pleasure. And we will do this again soon when we hear those announcements from El Salvador. All right. Moving on, guys. That was awesome. I absolutely loved having them. Maybe at the end, I'll play you the expletive rant about Elizabeth Warren because it's really, really fun and echoes my own often sentiments that I've had about her. But in a way that I would not have been able to articulate myself.

I agree generally with the Jamie Dimon comments. I think my question becomes, and we've talked about this here, whether Larry Fink has truly changed his tone or whether it's literally just about money. And I think some would say something more nefarious. I'm willing to believe that Larry Fink actually is one of us now because he's spending a hell of a lot of time out on his

roadshow. But anyways, guys, now that we've talked to Max and Stacey, of course, it's Thursday, which means we've got Dan, the chart guys to tell us what's happening in the market. We had to make sure, Dan, that they exited the room before we started talking about other assets or I would have had to watch them in the waiting room, streaming expletives at me about how my balls haven't dropped. Hey, Dan, it's a safe bet. Good call. Me in the fetal position, but I think they're gone. Yeah. Okay. What do you make of what's happening with markets right now, man?

So overall, Bitcoin's at a spot where it's a daily bear flag that's shaping up on the daily chart right now. And so we all know 40,000 is the key level that everybody's watching. And we're going to find out in two, three days or so. Well, with the weekend coming up, we know things can slow down. But very shortly, we're going to find out this is either a bear flag to test 40,000, or we break the high of the current bounce 43.6 and we just hold support yet again. And longer term bulls don't have anything to worry about if 40,000 is support. But like I said, we're going to find out pretty soon here because this is a pretty weak bounce over the last few days. And we're pretty close to testing the low of this drop. Yeah. And I can see that

50. I'm assuming that's it. Just looking at it, the 50 MA sort of looming there now above. I keep pointing out the fact that we were above it since September, October, and now back below and testing it as resistance. If you even zoom into the four hour, it kind of looks the same under the 100, the 50, the 200. We lost some key levels and some key metrics here in my mind or some key moving averages. Yeah, just a little peak euphoria moment driven by some headlines. And now we just need to digest it and reassess. And again, the big question for me is, is this a long term lower high? It's the six month chart. Are we going to do the same thing 2017, 2018, where we saw, you know, 65% bounce retracement and kept tightening up a bit. And now we have our 65,

67% bounce retracement. And so the big question is, if 40,000 becomes resistance, I'm going to be looking for 2024 to potentially be a bit boring, at least the first half, while we tighten up and digest things and do the balancing act between supply and demand and find that new base. But short term, it's all about- That's my prediction. That's my prediction, by the way. I mean, I don't know shit about what's coming. But now that we've seen the ETF trade sort of shake out in the short term without a compelling narrative, now we go right back to, hey, four-year cycle halving. And anyone who watches that knows you get a really boring year up until like October or

November when things start to generally heat up. So it makes sense. Yeah. And that just means, you know, if you're sitting around looking what to do, you've got some capital to look to buy a longer term higher low if you want to be a little bit more patient and conservative. But yeah, it's, you know, and the same thing with the miners, those miners like MARA just clearly hitting a euphoria top and pulling back very significantly. And so just like that, we're almost down 50% from that high. And it's just euphoria reaching a temporary climax. Yeah, I think one of the institutions, I'm looking for the article. I actually have it here.

One second. Look at that. Bernstein says, buy the dip in mining stocks ahead of Bitcoin price inflection. So it says, prefers outperform rated mining stocks, riot platforms, and clean spark in this case. But now we do have the institutions kind of yelling, okay, enough of this 50% retracement you just talked about. There's a lot of good things going for these miners. Maybe it's time to get back in. I'm not ready just yet. I'm watching for it each day for the daily bounce on this name. But until Bitcoin either clearly confirms that bear flag or clearly

negates it, we're not going to get any kind of meaningful conviction behind the bounce, in my opinion. Yeah, I tend to agree. What else are you watching these days? Just the broader market, you know, holding on just fine. What else are you watching these days? hype gaining on social media as more and more people become aware that we're waiting on a DEA rescheduling decision. Until we get that headline MSOS, if we're not trading over 988, we're just trading sideways. So definitely aware that we have to have a concrete headline. The sector has been plagued by, don't want to, let's see what kind of word work just teased. It's being teased in terms of, you know, looking for a headline, but we don't get the actual, give us, give us a concrete federal exchange. And then we'll say, do we have a date when I've seen some people throwing out

like random dates when we might get an answer, but I haven't seen anything concrete on that. Or is it just kind of that waiting period and it could come anytime. Yeah. There's, there's no concrete date. i've always thought it's going to be closer to the election to try and coast off a headline but uh there is on the 23rd of this month there is a i don't know if it's going to be a judgment of a lawsuit and it could potentially tie into that it's a little bit of hopium but uh you know with nothing elseoming, I'd say pay attention to the 23rd. But other than that, yeah, it could just come out of nowhere and people will get bored the longer it takes. If it takes another month plus, we're still talking about it.

We can easily trade sideways. But as we know, keep an eye on that headline. The good news is if we're not running up, if we are trading sideways, that means I expect a bullish headline reaction as opposed to like we saw with the ETF. If you're running up into the headlines, it takes away that punch. And other than that, go ahead. I didn't have you last week and it would have been literally the day of the Bitcoin spot ETF launch. We would have been on as it launched. Yeah.

As it hit the market, was anything about that a surprise to you? The way that it's traded, that move up to 49, the quick dump, and now just, I mean, it's like the market literally was put on ice. Nothing's happening now. Yeah. Honestly, it wasn't. I actually, it surprised me that we did hold up that well up to 49. It held up a little bit longer than I thought it would. But I was always in the more cautious camp of selling news. And I sold my swing position, I think, at 47.6 or something like that. And for me, it was just what's risk reward at this level.

And for me, it's taking profit. And that's just something I've learned playing hype sectors throughout the years that I would rather leave money on the table than give it back. And so I'm always going to be one to at least be taking partial profit into extreme strength. Yeah, that makes sense. What else are you looking at up there? Uranium still, I mean, it's boring. It's not sexy, but uranium for an entire year, this is a weekly chart, just uptrend, all-time highs, the ETF, URNJ just tightened beautifully for two months and then rips to new all-time highs. So it's not going to make you 100% in a week, but in terms of slow and steady, very clear uptrends. They've got the steady drip of bullish narrative and it's definitely still a spot that I'm looking to pay attention and make trades.

So you think that we're going to continue to see it sort of slowly grind up? It's funny that people aren't talking about it. I remember, I definitely remember, I think I've told this story before, but 2000, God, early 2000s when everyone was talking about it like they're talking about Bitcoin now or like you're talking about weed now. There was this moment when uranium was like going to be a gajillion dollars and then it was just flat for over a decade. Yeah, it was. Topped hard, excuse me. It was that Fukushima really took the wind out of the sector and sent it to the dumps in terms of sentiment.

But yeah, you know, it's returning. It's more and more, you know, people cut out uranium or cut out nuclear because, you know, we're going green and now they're kind of backtracking like, wait a second, nuclear is actually, you know, potentially the better option here and we do need to have some of it. And so it's just got a good, as long as the weekly uptrend just continues, you know, we're going to keep looking there. Other than that, you that, just keep an eye on this cannabis sector, like I mentioned, and being bullish because the broader market is telling us to keep staying bullish at this point. This is a hilarious tweet, but it makes a lot of sense.

It says, S&P 500 down 0.6% year to date. I bet it's now flat. Twitter, this is the worst market I've ever seen. Yeah. Why do you think that? I really do get that impression that people feel like everything has topped, it's over, it's crashed, and literally everything is still sitting at the highs. I mean, QQQ, like you said, NASDAQ literally just gapped up almost to all-time high today. It's one of the reasons that I've stayed interested in trading for over a decade. It's the

psychological aspect of things. It's something I do in nature. I love observing animals and their social pecking order of a chicken coop and things like that. And it's just the same thing with humans. I'm just observing and it's just fascinating the way that emotions come into play and people get bored. The bulls it's the bulls are just fine. That's the bottom line. We'll use those retracements. I was going to say, if we were talking right now about how this is the greatest market ever and things can never go down, then you'd be much more cautious than people sitting

at the highs and there's still extreme bearishness. Yeah. Yeah. Just watch, watch the retracements. You know, we went up all the end of last year. We've only retraced like the sideways consolidation we're seeing. We've only pulled back like 15% of that retracement or something, not even close to negating a bull flag. So I have to see something very convincing

from the bears. On the bear side of things, I am bearish the energy sector and have been for a month plus. That's one spot where I like a little bit of weakness. But other than that, just playing the trends. Mike McGlone comes on here every Monday and says that oil is going to 40 bucks a barrel or sub 50. So I'll take it. I'm with what you're saying. I'm short XLE, so I'll take it. You certainly will. You might not be showing up to my streams anymore. Then it all goes down to 40 bucks and you hold it through it. All right, man. Well, guys, everyone follow chart, chart, man, Dan chart guys down below in the description

and follow his channel. Of course, check out everything he's doing. We missed you last week. That would have been fun, but yeah, didn't end up being the fireworks right there that we would have probably been looking for anyways. So yeah, I was traveling. It's, it's, you know, I booked something months and months in advance. Hey man, I don't blame you.

This is not your first priority. I understand that. Trust me. I appreciate that you show up every week. Really awesome always to have you and great insight. I just hope that the day that they finally reschedule marijuana, like we happen to be streaming, although you're going to cut off immediately and go day trade.

See ya. I'll literally know that the news happened by you disappearing one day. Awesome, guys. All right, man. Thank you, Dan. See you next week. See ya, Scott.

All right, guys. And now it's that time because I almost forgot, but we're giving away money every single week. A hundred bucks to somebody in the comments. And this time, because we didn't get to do it before, this is a bad idea.

It's a bad idea. All right, first, I'm going to play this video. I'm going to play you guys this video in advance of me asking the question that you have to comment on. Ready? Okay, I'm going to do it. Those few countries are still in the frame of mind

that they need to outlaw or regulate Bitcoin. And particularly in the U.S. when you hear people like Brad Sherman or Elizabeth Warren, or there's another congressperson out in California now who's attacking El Salvador and we need to protect the dollar from El Salvador. My gosh. Okay. So these people, I mean, Liz Warren has her head so far up her ass that it's like a contortionist's dream. I mean, she should be at Le Cirque du Soleil doing contortions. I mean, I've never seen such an ill-informed, financially illiterate fuckwit in my life. And she's actually in a position of power and people listen to her.

That's very sad for America. It's America's loss. You know, the rest of the world's looking at that, rubbing their hands and saying, keep talking, bitch, because we got the commodities and we're going to be running the show soon. And you're going to be out there sucking cock in the parking lot for two bucks. I've had it, bitch. Pretty much. I'm sorry to be so frank, but that's life, baby. Sorry to be so frank, but that's life, life baby guys uh when we recorded that and by the way that was before the anti-crypto army and everything uh we literally debated we're like do we cut it do we keep it of course we fucking kept it

i've played it like 10 times have you ever heard i mean unbelievable okay so here's gonna be the question and since you guys missed him while he was uh rotting away in united states uh prison uh guys he's here he's a real person you know i was gonna bring you on i literally just said to him you're coming on on, do your hair. And he was like, what? So I think the question today, and I'm going to let you pick the winner because I don't want to do it and think people is playing favorites. Guys, give us your best description of Elizabeth Warren. And whoever we choose, you're going to get $100 and you're going to email Mike, Misha, but he's Mike, too, at thewolfofallstreets.io to get paid. Mike

yesterday, not this Mike, got paid. Go ahead. Give us your favorite description of Elizabeth Warren and in about one minute we're going to choose. We got Buckwit, not a gynecologist, but I know Pocahontas falls.

Demon Lizard. Senator Karen. That's good. Elizabeth Warren is like a shit coin. I got Dinosaur. Dark Pocahontas. Man, we're going to go to jail. We have a lot of dinosaurs.

Parasite. Elizabeth Dark Pocahontas. Man, we're going to go to jail. We have a lot of dinosaurs. Parasite. Elizabeth Warren. The war vagina. Jamie Dimon. Daughter. I can't even keep up with the comments. The ones I try to click on. Another one's got Mortal Demon. Last of the Trollocans.

You might not know Last of the Mohicans. It's a very famous book and movie here. Fall Breaker. I like this one. Two Dollar Hill. Old Hag. Worn a pile of poop with flies over it. Why Forrest Gump?

Was Forrest Gump one of them? They were just kind of saying that she's not all completely there. Dipstick Lizzie. Worst Karen of the neighbors. Guy Cheese. Guy Cheese. Peter Schiff's wife. Anti-crypto army.

Heiser. Pocahontas. Undraped balls. How dare you insult Forrest Gump. Okay, you got to choose one, man. Yeah, choose one. they're still going but you just yeah yeah mother trees of cock this is good yeah for sure um best trader ever that's nancy pelosi guys sorry not baby yoda oh god bag cheese bag cheese is Nancy Pelosi, guys. Sorry. Not Baby Yoda. Oh, God.

Bag cheese is pretty good. I don't even know what it means, but it was pretty good. Yeah, there are a lot of things I don't even know what it is. Well, yeah, you're not, you know, if you don't have the beauty of being born in America. I don't know what bag cheese is. I don't know. What is it? Cherokee?

Where was it? Cherokee cum dumpster. Cherokee is a kind of native american and elizabeth warren once claimed she was part native american so they started calling her a hauntus so that's where the native american may be slightly racist i don't know um yeah yeah you lick a ball Bo Warren two dollars. Pelosi and Gisler had a kid named Elizabeth Warren. Cockless Lizzie.

I like this one. Cockless Lizzie? Yeah. That sounds really good. Dez has been here since day one. I agree with Dez. Dez, you win. Dez wins. Yes, Dez, you win. You've wins. Yes, Dez, you win. You've been here supporting since.

See, I said I wasn't going to pick favorites, but we picked Dez. But it was a great comment, and we loved it. So I know. And Dez, I know you want a McLaren hat signed. I'm going to work on that. It's going to take me some time, man. It's going to take me some time. I did get a McLaren poster signed.

Do you guys want to see it? I can go get it watch wait check it out pretty cool wow yeah check that you can see my reading pretty awesome all right hey des you gotta email mike at thewolfofallstreets.io. Honestly, man, I would just pay you for being here for so long. So I'm glad that you won. Great comment. Cockless Lizzie.

There was a million good ones. Guys, we're going to do this every day. It's super fun. I feel bad for the people who listen to this on audio afterwards and have no idea what the hell is happening. But hey, maybe we'll edit this. But yeah, $100. afterwards and have no idea what the hell is happening but hey maybe we'll edit this but yeah hundred dollars uh and and des by the way misha des literally like checked in on you every day that you were gone oh cool thank you man thank you he would like i would get dms from him on x and he would ask over here update on the producer so it's it's fitting that uh i i guess you uh

you uh whatever he says say what please donate it to a dog shelter, please. We can donate it for you, but just email Mike, please. Okay, Mike at thewolfofallstreets.io. We'll figure it out. Or maybe I'll match your donation to a dog shelter, but we definitely want you to get something. All right, guys. Ravisha, I think we're done, right?

Yep. What do we got tomorrow? Oh, the Friday Five. The Friday Five. So we'll have Nathaniel Whittemore on the Friday five. That's all we got guys. Interesting having Max and Stacy, I would say. But not, not as he's a little more tame with her. Maybe. I don't know if that was tame, but maybe a little more tame.

And that's all we got guys. We will be back tomorrow. 9.00 AM Eastern Standard Time. Misha, thank you for joining. I'm going to make you come on and help me choose so I don't have to be the guy who is the back end. Awesome. I love it. Awesome. Perfect. But that means you're going to have to actually be somewhere we can turn your camera on every day. Every day, man.

All right, guys. Thank you. See you tomorrow. Bye. Peace.