#800: London Closed The Strait Of Hormuz with Tom Luongo

SPEAKER_1 (0:07)

You've had a dynamic where money has become freer than free.

SPEAKER_2 (0:10)

When you talk about a Fed just going nuts, all the central banks going nuts. So it's all acting like safe haven.

SPEAKER_1 (0:18)

I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins. In a world of fiat currencies, Bitcoin is the victor.

SPEAKER_2 (0:29)

I mean, that's part of the bold case for Bitcoin.

SPEAKER_3 (0:31)

If you're not paying attention, you probably should be.

Marty Bent (0:36)

Mr. Luongo, it's been too long, sir.

Tom Luongo (0:39)

It has, Marty. I'm glad to see you. You look well.

Marty Bent (0:43)

Feeling well.

We had the Queen Center Gala in New York City last night. Brought the wife. We wound up taking the late night Amtrak back to Philly. So I didn't get home till like 2 a.m. But all things considered, feeling good right now.

Tom Luongo (0:54)

I just got back from doing like three weeks in the American High West. So first we flew into Salt Lake and then we went up to Boise for a week.

Got the chance to hang out with Blaine Holt and the Emberland Game and a bunch of my patrons. And my wife got to go rock hounding out in the mountains and look for agates and opals and stuff. And she had a grand time. And then we went down to two weeks down at Moab and just, and that was recorded. And then we just flew home. And the point of this is that we just flew home on Monday night slash Tuesday morning. We took the red eye out of Salt Lake. We got back yesterday morning. My daughter picked me up from the airport. My wife's up in Tennessee getting things because we're in our whole life is in flux. I'm in Florida. She's now in Tennessee. Well, we make the final transition out of there. So or potentially final transition out of there anymore.

Marty Bent (1:44)

So you're making personal transitions. It looks like the world is making a tectonic transition.

Tom Luongo (1:50)

Where do we start?

Marty Bent (1:50)

For six.

Tom Luongo (1:52)

That's a good question. Where do we start?

Yeah, it is a good question. Like, I don't know because you and I haven't talked a while. So and I monitor your Twitter feed here and there are always the TFTC Twitter feed. And it's it's interesting, like I want to touch on like the stuff that I'm because I want to go by the way, we were build this as a home and home. I want to have Marty on the GG&G podcast because there's a lot of stuff happening in crypto that I have no freaking clue about. But I don't want to talk about that today. I want to leave that for that podcast where Marty gets to be, you know, quote unquote, the talent, right? And I get to I get to be the dumb host. So I want to just like keep it in, let's just keep it in the midterms and all that stuff. I'm actually interested to hear what you have to think.

Maybe they'll do a little bit of a Caitlin Long thing where she comes on my podcast and interviews me. It was just hilarious. But I'd like to hear where you stand on where we are six months into this whole, you know, Iran operation, the blowing up of the gold order. I want to hear where you where you think we are because I'd be interested in that.

Marty Bent (2:55)

I think we're in a spot where if you would have told me in February that we're still immersed in a conflict with Iran, I would call it conflict doesn't even seem like a war, you have tankers being blown up, but it seems like we're in the blockade phase. I would have been more dismayed than I actually, like I would have expected to be more dismayed than I am. It feels like, I mean, again, and people hate when you say this. I mean, yeah, would I prefer not to be at war with Iran? Yes.

But if you look at the oil flows, particularly coming from Venezuela, if you look at how, I guess resilient the market has shown, yes, WTI, Brent, the spread exists, and diesel prices are up. Obviously, I filled up my car today, it was like $126, we got a Tahoe.

So it's not cheap, I don't like looking at that. But all things considered, I don't think the Armageddon that people were calling for, the famine that people were calling for has manifested. And if you look at the concessions that not only Iran may be forced to make, but others have made over the last six months, it seems like we're winning on the deal side. That's my perspective, at least.