BLACKROCK BITCOIN SELLOFF?! (Insiders Were WRONG)

SPEAKER_1 (0:00)

It all began as an Iranian oil shock, hit the economy like a hammer to a nail, and it already had inflation baked in to wages and expectations. Now, oil's doubled. Prices are following as logistics are going to be squeezed, diesel prices are skyrocketing, and the Fed might have to slam their foot on the brakes today with the Federal Reserve interest rate meeting. Gold, absolutely ripping, doubling in the blink of an eye.

People fled the dollar. The hostage situation, crisis, the Afghanistan movements. This is all a recipe. The Middle East supply shock was underway, and the inflation psychology made markets batten down the hatches. Tight money policy, geopolitical panic. Now, you look at the current tape, we have very similar situation. Iran with the Strait of Hormuz, pipelines getting bombed, oil back over $100. Gold skyrocketing back over $4,500.

And the Fed is hiking into inflationary crisis. What I just explained to you is the 1979 to 1980 oil crisis that turned into stagflation. It turned into an absolute disaster for the markets.

And we have a lot of similar comparisons in our day and age. So this is a short history lesson for helping everyone that's watching this show understand how crazy things might actually get over the next few years. Welcome on, welcome all. We have a crazy show in store for you today. Federal Reserve interest rates are gonna be happening later in the day. We have the Clarity Act failure, which I called from 75% likelihood. Never did I say that the Clarity Act was likely to move forward. Thankfully, we see this go to the wayside. Unfortunately, it's gonna be talked about for the next few months. And XRP is falling off of a cliff. Mr. TJ, how are you doing good, sir?

TJ (1:49)

I'm doing great. I love that history lesson there. It is remarkable, the similarities to things we've seen in the past. It almost makes you feel like everything is a simulation or history repeats itself.

Definitely, that's a lot closer to a rhyme than anything else. So yeah, that was pretty remarkable that we're so close. The only thing different, I think, is CPI slightly different. But again, all those numbers are juice. So yeah, a lot to talk about today. Like you said, we've got the Clarity failed yesterday, which was no surprise.

SPEAKER_1 (2:26)

It's super cool, though. I like that a bunch of grandparents can decide the future of our cryptocurrency industry. This is Kyle Chasse highlighted. Our grandparents bought and paid for by banks and oil companies deciding where the future finance goes.

TJ (2:40)

Don't forget about our friends over in the Middle East. Not just the bank. I guess banks. You said banks.

SPEAKER_1 (2:46)

Same thing. Tiny hats. That is the same thing. It's the same thing.

TJ (2:49)

You're right.

SPEAKER_1 (2:51)

And this, actually, I feel relieved because I feel like they can go back to the drawing board and make something that doesn't try to gut DeFi and make the banks more powerful in controlling capital flight and capital controls.

It got to the point with how many concessions the Republicans did that this turned into just basically a new hammer for the banks to use against monetary movement across the planet. Absolutely.

TJ (3:15)

No, this was, I was, it's actually good that clarity clarity didn't pass because it was getting worse and worse and worse and worse. They were bending up. They were trying. It got so politicized. They were bending over backwards to try to get it done that they were making way too many concessions. And I actually think this was almost intentional, like hot, maybe a hot take, but it almost feels like Trump was baiting this. So that way, again, you could blame the Democrats for blocking crypto. And then realistically, at this point, I would argue it's better for the industry because you're going to get SEC and CFTC that are going to swiftly come out with guidance that, you know, sure, it's not as locked in because things can change in the future, but it will give us two to, you know, two to three years for the industry to move forward quickly and then, you know, politicians and everybody will be moved on to probably AI and other things. I think realistically, this is going to be much better for the industry. We're already seeing, you know, Circle launched ARC L1 today, which is interesting. And I just think very quickly we're going to see the SEC and CFTC come out with favorable regulation for this industry that allows things to move forward very quickly. We have Congress out of the way now. We have all the politics out of the way.