1 00:00:00,270 --> 00:00:03,450 Joel Comm: What in the world is happening with the financial markets? 2 00:00:03,690 --> 00:00:06,540 Joel Comm: How about the crypto markets? Are we on the cusp 3 00:00:06,540 --> 00:00:10,530 Joel Comm: of a recession and dystopian hellscape? Or are there reasonable 4 00:00:10,530 --> 00:00:13,800 Joel Comm: steps you can take to ensure your own financial and 5 00:00:13,800 --> 00:00:17,700 Joel Comm: emotional security? We're pleased to welcome Tika Tiwari of the 6 00:00:17,700 --> 00:00:20,650 Joel Comm: Palm Beach letter back to the show to discuss all 7 00:00:20,650 --> 00:00:23,700 Joel Comm: of these things and more. So if you're ready for 8 00:00:23,700 --> 00:00:27,510 Joel Comm: a healthy dose of optimism and financial literacy, you've come 9 00:00:27,510 --> 00:00:30,300 Joel Comm: to the right place. As we welcome ticket Tory back 10 00:00:30,300 --> 00:00:35,860 Joel Comm: to the show for episode number 663. Of the Bad 11 00:00:35,860 --> 00:00:36,970 Joel Comm: Crypto podcast. 12 00:00:37,060 --> 00:00:54,810 Joel Comm: Five, four, three. How are all of the blues band? I. 13 00:01:05,700 --> 00:01:09,920 Joel Comm: Hello, friends. Happy New Year. Welcome to the Bad Crypto podcast. 14 00:01:09,930 --> 00:01:13,380 Joel Comm: Still the show for the crypto curious and the crypto serious. 15 00:01:13,380 --> 00:01:15,030 Joel Comm: I am Sir Laura Joel calm. 16 00:01:15,510 --> 00:01:17,520 Travis Wright: And I am Lord Travis Rhodes. 17 00:01:17,700 --> 00:01:20,310 Joel Comm: No longer sir. You felt that was redundant. 18 00:01:21,180 --> 00:01:23,400 Travis Wright: Well, it's funny when you get somebody going, Wait a second, 19 00:01:23,730 --> 00:01:26,819 Travis Wright: if you're a sir and then you become a Lord, 20 00:01:27,000 --> 00:01:28,500 Travis Wright: Lord be circumcised. 21 00:01:28,530 --> 00:01:31,229 Joel Comm: The whole damn thing is tongue in cheek to begin with. 22 00:01:31,410 --> 00:01:31,980 Joel Comm: I don't know. 23 00:01:31,980 --> 00:01:33,929 Travis Wright: We're going to be barons, okay? Going to be this 24 00:01:34,350 --> 00:01:35,630 Travis Wright: land and work our way up to Duke. 25 00:01:35,760 --> 00:01:38,910 Joel Comm: I again, I got a coupon. You can get a 26 00:01:38,910 --> 00:01:41,270 Joel Comm: discount on the discount if. 27 00:01:41,370 --> 00:01:42,270 Travis Wright: This are for show the year. 28 00:01:42,480 --> 00:01:43,259 Joel Comm: This is our first show. 29 00:01:43,260 --> 00:01:44,670 Travis Wright: The year? Yeah. We taking a break. 30 00:01:44,940 --> 00:01:48,900 Joel Comm: I was on vacation. You were on vacation. And we're back. 31 00:01:48,900 --> 00:01:50,250 Joel Comm: And we're back, bitches. 32 00:01:50,250 --> 00:01:52,830 Travis Wright: Yeah. Yeah. I had a time we could talk about 33 00:01:52,830 --> 00:01:54,600 Travis Wright: it in future episodes. We want to get into this 34 00:01:54,600 --> 00:01:58,410 Travis Wright: one because this is a really good episode and we 35 00:01:58,410 --> 00:02:00,880 Travis Wright: also get to do a little conspiracy chops in here. 36 00:02:00,980 --> 00:02:03,080 Travis Wright: And then. And then Tiki is like cutting us off 37 00:02:03,090 --> 00:02:05,400 Travis Wright: of the need for the Mickey go. 38 00:02:05,400 --> 00:02:08,070 Joel Comm: We're not going to teak, we're not going to Tiki Room, 39 00:02:08,740 --> 00:02:11,190 Joel Comm: and we jump right into the interview. So let me 40 00:02:11,190 --> 00:02:14,190 Joel Comm: set the stage here. Ticket to worry is the executive 41 00:02:14,190 --> 00:02:18,720 Joel Comm: chairman strategy board at Defi Technologies. They're a company aiming 42 00:02:18,720 --> 00:02:23,340 Joel Comm: to become the world leader in offering services built upon Defi. 43 00:02:23,520 --> 00:02:25,889 Joel Comm: He is also the editor of the Palm Beach Letter 44 00:02:25,889 --> 00:02:32,190 Joel Comm: small captain cryptocurrency advisory firm Palm Beach Confidential. The dude 45 00:02:32,190 --> 00:02:35,630 Joel Comm: is a former hedge fund manager, a Wall Street executive. 46 00:02:35,880 --> 00:02:36,480 Travis Wright: Smart. 47 00:02:36,540 --> 00:02:41,250 Joel Comm: Super smart, widely considered one of the world's premier crypto analysts. 48 00:02:41,250 --> 00:02:42,810 Joel Comm: We talk a lot about a lot of stuff in 49 00:02:42,810 --> 00:02:50,260 Joel Comm: this interview, so let's get to it. Hugo. What's going on, brother? 50 00:02:50,320 --> 00:02:52,419 Teeka Tiwari: Hey, it's good to be here. We're starting. 51 00:02:52,630 --> 00:02:57,040 Joel Comm: We're officially started. We're hanging out at my place here 52 00:02:57,040 --> 00:02:58,570 Joel Comm: in Palma del Mar, Puerto Rico. 53 00:02:58,750 --> 00:03:00,790 Travis Wright: That didn't seem like an official start. I kind of 54 00:03:00,790 --> 00:03:01,869 Travis Wright: was just like, Hey. 55 00:03:02,230 --> 00:03:05,080 Joel Comm: You know, that's how Rogan does it. Yeah. ROGAN Just 56 00:03:05,080 --> 00:03:06,250 Joel Comm: kind of What's going on? 57 00:03:06,520 --> 00:03:08,320 Travis Wright: Joel Rogan Yeah, apparently. 58 00:03:09,040 --> 00:03:12,070 Joel Comm: Well, it's this in-person feel is just so much more intimate. 59 00:03:12,070 --> 00:03:15,970 Joel Comm: All the interviews we do there, you know, on the screen, 60 00:03:15,970 --> 00:03:20,530 Joel Comm: I'm so sick of Zoom and seeing just people's faces 61 00:03:20,530 --> 00:03:22,240 Joel Comm: on the screen in front of me like tech is 62 00:03:22,240 --> 00:03:25,800 Joel Comm: here in the flesh. That's right. Because he is also boricua. 63 00:03:25,810 --> 00:03:28,000 Joel Comm: He is Puerto Rican. Yeah. 64 00:03:28,300 --> 00:03:28,770 Teeka Tiwari: Yes. 65 00:03:29,500 --> 00:03:30,820 Joel Comm: You How long you been here on the island? 66 00:03:31,000 --> 00:03:33,400 Teeka Tiwari: Five years. I came here in 2018. 67 00:03:33,460 --> 00:03:35,260 Joel Comm: You're. You are O.G. Then. 68 00:03:35,740 --> 00:03:39,490 Teeka Tiwari: When the real OGs came in 2012 and 2014, those 69 00:03:39,490 --> 00:03:40,320 Teeka Tiwari: are the real. Oh, geez. 70 00:03:40,330 --> 00:03:41,230 Joel Comm: I'm just a G. 71 00:03:41,380 --> 00:03:43,300 Travis Wright: Yeah, I'm not even a G. I'm still like an. 72 00:03:43,300 --> 00:03:45,790 Joel Comm: F workin on the alphabet still. You know, we're coming up. 73 00:03:45,970 --> 00:03:48,580 Travis Wright: To see that Mickey Mouse right there, though. That's pretty badass. 74 00:03:48,580 --> 00:03:49,180 Travis Wright: What is that from? 75 00:03:49,390 --> 00:03:54,460 Joel Comm: So Travis's admiring a Walt Disney Mickey Mouse poster. This 76 00:03:54,460 --> 00:03:58,720 Joel Comm: was hanging in my childhood home the whole time I 77 00:03:58,720 --> 00:04:02,080 Joel Comm: was growing up. Really? Yeah. So frame in a frame, 78 00:04:02,080 --> 00:04:04,450 Joel Comm: but a different frame. I had this framed in San Juan. 79 00:04:04,800 --> 00:04:05,590 Joel Comm: So this is. 80 00:04:05,590 --> 00:04:06,370 Travis Wright: This is real. 81 00:04:06,760 --> 00:04:09,250 Joel Comm: This is old school. Kind of like me. 82 00:04:09,460 --> 00:04:09,970 Travis Wright: Very cool. 83 00:04:10,000 --> 00:04:12,160 Joel Comm: I'm old school. We have a guest here, though. Like, nobody. 84 00:04:12,160 --> 00:04:14,620 Travis Wright: Cares what I haven't seen before. And I was like, Well, man, is. 85 00:04:14,620 --> 00:04:16,120 Joel Comm: There anything else? You haven't seen my. 86 00:04:16,120 --> 00:04:18,570 Travis Wright: Boys and Tiki? Yeah. 87 00:04:20,620 --> 00:04:25,810 Joel Comm: All right, let's get into into the markets, because crypto 88 00:04:26,080 --> 00:04:29,349 Joel Comm: has been kind of going sideways here for a little bit. 89 00:04:29,350 --> 00:04:32,620 Joel Comm: And we got to, you know, timestamp this. It is 90 00:04:32,620 --> 00:04:35,050 Joel Comm: January 11th, is that right? 91 00:04:35,060 --> 00:04:35,860 Teeka Tiwari: It's 111. 92 00:04:35,950 --> 00:04:37,830 Travis Wright: Yeah, 1111112, three. 93 00:04:37,839 --> 00:04:41,830 Joel Comm: Make a wish today and bitcoin's actually up the crypto 94 00:04:41,830 --> 00:04:44,230 Joel Comm: markets up a little bit as of this moment. Bitcoin's 95 00:04:44,230 --> 00:04:47,979 Joel Comm: like 17 five. Etherium is, I think 1350, something like that. 96 00:04:48,279 --> 00:04:50,799 Joel Comm: The stock market, you know, has had a little bit 97 00:04:50,800 --> 00:04:54,490 Joel Comm: of a run and I saw you a couple of 98 00:04:54,490 --> 00:04:56,979 Joel Comm: weeks ago here at a party and I said, What 99 00:04:56,980 --> 00:04:59,290 Joel Comm: do you think is going to happen? And you told me, 100 00:04:59,650 --> 00:05:01,870 Joel Comm: and I want you to tell everybody right now what 101 00:05:01,870 --> 00:05:04,450 Joel Comm: is happening now and what do you think is going 102 00:05:04,450 --> 00:05:05,530 Joel Comm: to happen in the near term. 103 00:05:06,460 --> 00:05:09,550 Teeka Tiwari: So to give some context as to what's happening now, 104 00:05:09,550 --> 00:05:11,860 Teeka Tiwari: we've got to pull the camera back a little bit. 105 00:05:12,580 --> 00:05:16,510 Teeka Tiwari: What a lot of people don't realize, especially new people 106 00:05:16,510 --> 00:05:18,190 Teeka Tiwari: that have come into crypto or even people that have 107 00:05:18,190 --> 00:05:20,360 Teeka Tiwari: come into the stock market over the last 5 to 108 00:05:20,360 --> 00:05:26,950 Teeka Tiwari: 10 years is that asset prices, the prices of financial assets, 109 00:05:26,950 --> 00:05:29,710 Teeka Tiwari: the prices of homes, the prices of art, the prices 110 00:05:29,710 --> 00:05:32,800 Teeka Tiwari: of collectible cars and yes, even the price of Bitcoin 111 00:05:33,100 --> 00:05:38,860 Teeka Tiwari: is ultimately determined by the risk free rate of return, i.e. 112 00:05:38,890 --> 00:05:41,050 Teeka Tiwari: how much money do I get if I'm not taking 113 00:05:41,050 --> 00:05:45,730 Teeka Tiwari: any risk buying, let's say, U.S. government bonds? Well, when U.S. 114 00:05:45,730 --> 00:05:49,570 Teeka Tiwari: government bonds are trading at 50 basis points or 100 115 00:05:49,570 --> 00:05:53,410 Teeka Tiwari: basis points, what it does is when you do a 116 00:05:53,410 --> 00:05:56,890 Teeka Tiwari: relative valuation between the risk free rate of return and 117 00:05:56,890 --> 00:06:01,450 Teeka Tiwari: everything else, it increases the value of everything else. So 118 00:06:01,450 --> 00:06:03,789 Teeka Tiwari: why am I talking about that? I'm talking about that 119 00:06:03,790 --> 00:06:06,730 Teeka Tiwari: because for the first time in 15 years, you can 120 00:06:06,730 --> 00:06:11,420 Teeka Tiwari: actually get a halfway decent rate of return on or 121 00:06:11,440 --> 00:06:14,290 Teeka Tiwari: on the on the risk free rate. Recently, the ten 122 00:06:14,290 --> 00:06:18,760 Teeka Tiwari: year Treasury was yielding 4.3%. It's now yielding three and 123 00:06:18,760 --> 00:06:21,970 Teeka Tiwari: a half. If you look at investment grade bonds, these 124 00:06:21,970 --> 00:06:24,520 Teeka Tiwari: are bonds that are rated triple B or up. They 125 00:06:24,520 --> 00:06:30,550 Teeka Tiwari: have a default rate of 0.32%. So essentially risk free 126 00:06:31,029 --> 00:06:35,470 Teeka Tiwari: if we use the investment grade bond income as the 127 00:06:35,470 --> 00:06:38,950 Teeka Tiwari: risk free rate, well, that's yielding five and a half percent. 128 00:06:39,279 --> 00:06:42,669 Teeka Tiwari: That is unbelievable that you can get a five and 129 00:06:42,670 --> 00:06:46,479 Teeka Tiwari: a half percent interest rate without taking any risk. I don't. 130 00:06:46,480 --> 00:06:49,240 Joel Comm: Believe it. Well, you said it was unbelievable. 131 00:06:49,240 --> 00:06:52,930 Teeka Tiwari: It is unbelievable. You can go go online and do searches. 132 00:06:52,930 --> 00:06:56,350 Teeka Tiwari: You can get bonds in any number of A-rated blue 133 00:06:56,350 --> 00:07:00,100 Teeka Tiwari: chip companies that are yielding around five and a half percent. 134 00:07:00,279 --> 00:07:02,410 Teeka Tiwari: Some but some are earlier than 6%. 135 00:07:02,560 --> 00:07:05,890 Travis Wright: Being so high, it's almost like, wow, 5%, but inflation's 136 00:07:05,890 --> 00:07:07,390 Travis Wright: at X percent. 137 00:07:08,080 --> 00:07:10,000 Teeka Tiwari: Okay, so let me finish what I have to say. 138 00:07:10,000 --> 00:07:12,730 Teeka Tiwari: This is this is all to give you a preliminary 139 00:07:12,820 --> 00:07:16,950 Teeka Tiwari: framework for why pricing is the way it is and 140 00:07:16,990 --> 00:07:20,710 Teeka Tiwari: what will impact pricing moving forward. The thing to remember 141 00:07:20,710 --> 00:07:23,980 Teeka Tiwari: about inflation is it doesn't stay around for ten, 15 142 00:07:23,980 --> 00:07:27,310 Teeka Tiwari: or 20 years. It stays around for a few years. 143 00:07:27,610 --> 00:07:30,880 Teeka Tiwari: And if the Federal Reserve can stay focused on it, 144 00:07:31,000 --> 00:07:34,060 Teeka Tiwari: they can typically bring it under control within 2 to 145 00:07:34,060 --> 00:07:37,240 Teeka Tiwari: 3 years. So if you're getting, let's call it a 146 00:07:37,240 --> 00:07:41,590 Teeka Tiwari: five and a half percent return and inflation normalizes to 2% 147 00:07:41,590 --> 00:07:44,290 Teeka Tiwari: within three years, but you've got long dated bonds at 148 00:07:44,290 --> 00:07:48,640 Teeka Tiwari: 20 years, you're actually crushing it. You're getting 350 basis points. 149 00:07:48,870 --> 00:07:52,440 Teeka Tiwari: Above the long term rate of inflation with no risk. 150 00:07:52,830 --> 00:07:55,530 Teeka Tiwari: So what's happening? And again, the reason why I'm bringing 151 00:07:55,530 --> 00:08:00,540 Teeka Tiwari: this up is that because that math exists, an enormous 152 00:08:00,540 --> 00:08:04,530 Teeka Tiwari: amount of money has moved out of stocks and into 153 00:08:04,740 --> 00:08:09,060 Teeka Tiwari: far less riskier assets. What we're experiencing right now is 154 00:08:09,060 --> 00:08:14,070 Teeka Tiwari: a de-risking of assets across the board, from small investors 155 00:08:14,370 --> 00:08:17,620 Teeka Tiwari: to large investors. And and crypto is a part of that. 156 00:08:17,640 --> 00:08:23,040 Teeka Tiwari: Remember that Bitcoin came about at the beginning of the 157 00:08:23,040 --> 00:08:28,020 Teeka Tiwari: world's largest experiment of money printing. Right. So Bitcoin has 158 00:08:28,020 --> 00:08:33,030 Teeka Tiwari: always known a world of massive money printing. Bitcoin was 159 00:08:33,030 --> 00:08:37,170 Teeka Tiwari: a was and is a check against out of control 160 00:08:37,170 --> 00:08:42,030 Teeka Tiwari: money printing. Well, what happens when the money supply shrinks? Well, 161 00:08:42,030 --> 00:08:44,660 Teeka Tiwari: that's what's happening right now. Bitcoin goes down in price. 162 00:08:44,670 --> 00:08:51,210 Teeka Tiwari: Bitcoin becomes less valuable. The more responsible central bankers become. 163 00:08:51,460 --> 00:08:53,130 Teeka Tiwari: Now what does that mean? Does that mean now that 164 00:08:53,260 --> 00:08:56,219 Teeka Tiwari: we don't need Bitcoin? Central bankers have found, you know, 165 00:08:56,220 --> 00:09:00,330 Teeka Tiwari: they found Jesus and they're on the righteous path? No, 166 00:09:00,990 --> 00:09:05,609 Teeka Tiwari: they're only doing this because inflation is a gun at 167 00:09:05,610 --> 00:09:09,929 Teeka Tiwari: the temple of central bankers. If they do not get 168 00:09:09,929 --> 00:09:13,199 Teeka Tiwari: inflation under control, they know that their currencies will be 169 00:09:13,200 --> 00:09:17,820 Teeka Tiwari: as worthless as an Argentinean peso or a or a bolivar, 170 00:09:18,150 --> 00:09:22,140 Teeka Tiwari: and they are deathly afraid of that taking place. And 171 00:09:22,140 --> 00:09:26,640 Teeka Tiwari: so we should take Jerome Powell seriously when he says 172 00:09:26,880 --> 00:09:31,950 Teeka Tiwari: he is unafraid of breaking the economy and causing massive 173 00:09:31,950 --> 00:09:36,870 Teeka Tiwari: unemployment in order to get inflation under control. And under 174 00:09:37,140 --> 00:09:42,600 Teeka Tiwari: that scenario, you really don't want to be long anything 175 00:09:42,600 --> 00:09:47,459 Teeka Tiwari: other than short term bonds. Certainly dollar cost averaging to Bitcoin, 176 00:09:47,760 --> 00:09:50,010 Teeka Tiwari: as I do. I think it makes sense. But if 177 00:09:50,010 --> 00:09:53,550 Teeka Tiwari: you're looking to allocate large capital right now, I wouldn't 178 00:09:53,550 --> 00:09:55,710 Teeka Tiwari: be putting it in equities and I certainly wouldn't be 179 00:09:55,710 --> 00:09:58,650 Teeka Tiwari: putting it in any crypto. And if I'm going to 180 00:09:58,650 --> 00:10:01,350 Teeka Tiwari: go in crypto, I'm not going to go way out 181 00:10:01,350 --> 00:10:04,650 Teeka Tiwari: onto the risk curve. I am Bitcoin and Ethereum. That 182 00:10:04,650 --> 00:10:07,170 Teeka Tiwari: to me, those are the two, let's call them blue chips, 183 00:10:07,410 --> 00:10:10,530 Teeka Tiwari: but they're not. Let me be clear, they're not blue chips. 184 00:10:10,830 --> 00:10:14,070 Teeka Tiwari: But if we're saying, okay, what are the highest quality 185 00:10:14,070 --> 00:10:17,160 Teeka Tiwari: projects within the space, it's Bitcoin and Ethereum. There's no 186 00:10:17,160 --> 00:10:20,670 Teeka Tiwari: question to that. The other thing to remember is that 187 00:10:21,600 --> 00:10:24,510 Teeka Tiwari: right now, if we look at the the the traditional 188 00:10:24,510 --> 00:10:30,660 Teeka Tiwari: financial market, they are taking their cue from their analysts 189 00:10:30,660 --> 00:10:33,630 Teeka Tiwari: as to what they believe will happen on interest rates. 190 00:10:33,630 --> 00:10:37,980 Teeka Tiwari: And so their allocation to Bitcoin or even Bitcoin derivatives 191 00:10:37,980 --> 00:10:41,940 Teeka Tiwari: like this CME futures is all based upon where they 192 00:10:41,940 --> 00:10:45,360 Teeka Tiwari: think inflation will go and what they think the Federal 193 00:10:45,360 --> 00:10:50,670 Teeka Tiwari: Reserve will do. Their models suggest that not only is 194 00:10:50,880 --> 00:10:53,760 Teeka Tiwari: Powell going to stop raising interest rates, but he's going 195 00:10:53,760 --> 00:10:56,550 Teeka Tiwari: to pivot and cut interest rates at some point this year. 196 00:10:56,760 --> 00:11:02,179 Teeka Tiwari: And that is not going to happen. That is a fantasy. 197 00:11:02,190 --> 00:11:05,819 Teeka Tiwari: We call that hope here. Not only do crypto degenerates 198 00:11:05,820 --> 00:11:08,550 Teeka Tiwari: suck on the hope pipe, but also the guys on 199 00:11:08,550 --> 00:11:12,690 Teeka Tiwari: Wall Street as well. And they are imbibing deeply of 200 00:11:12,690 --> 00:11:15,690 Teeka Tiwari: the opium pipe right now. If they think that Jerome 201 00:11:15,690 --> 00:11:19,590 Teeka Tiwari: Powell is going to stop and cut interest rates in 2023, 202 00:11:19,590 --> 00:11:22,500 Teeka Tiwari: it is not not going to happen. And when that 203 00:11:22,500 --> 00:11:25,559 Teeka Tiwari: reality sinks in, not only will equity prices go down, 204 00:11:25,770 --> 00:11:27,660 Teeka Tiwari: but so will Bitcoin prices and so will the theory 205 00:11:27,660 --> 00:11:28,230 Teeka Tiwari: and prices. 206 00:11:28,890 --> 00:11:31,500 Travis Wright: So if we're looking at long term, then, you know, 207 00:11:31,740 --> 00:11:34,260 Travis Wright: we haven't bottomed out according to what you're thinking, then, 208 00:11:34,270 --> 00:11:35,489 Travis Wright: you know, it seems to me there's a lot of 209 00:11:35,490 --> 00:11:38,670 Travis Wright: people talking about the global economy is teetering like we've 210 00:11:38,670 --> 00:11:41,280 Travis Wright: we've been kind of sitting on the edge, like the 211 00:11:41,280 --> 00:11:43,980 Travis Wright: Bank of England was was teetering. There was like a 212 00:11:43,980 --> 00:11:46,890 Travis Wright: global margin calls and stuff going on. Like there's some 213 00:11:46,890 --> 00:11:50,490 Travis Wright: crazy stuff going on internationally in the economy. So I 214 00:11:50,490 --> 00:11:53,400 Travis Wright: know a lot of people are freaking out. So but 215 00:11:53,400 --> 00:11:56,220 Travis Wright: from your perspective, you think that it might it will 216 00:11:56,220 --> 00:12:01,560 Travis Wright: recover eventually and potentially Bitcoin could go to, what, 12, ten? 217 00:12:01,620 --> 00:12:02,099 Travis Wright: What do you think? 218 00:12:02,790 --> 00:12:06,540 Teeka Tiwari: Well, let's look at the different the different scenarios that 219 00:12:06,540 --> 00:12:08,760 Teeka Tiwari: are out there. If we're just looking at a scenario 220 00:12:08,760 --> 00:12:12,330 Teeka Tiwari: of Jerome Powell raising rates longer than the Street expects, 221 00:12:12,780 --> 00:12:14,760 Teeka Tiwari: you know, Bitcoin will come in, but not a lot, 222 00:12:14,770 --> 00:12:18,300 Teeka Tiwari: you know, 15 k something, something like that. If we're 223 00:12:18,300 --> 00:12:24,390 Teeka Tiwari: talking about a continuation of the fraud and the fallout 224 00:12:24,390 --> 00:12:29,670 Teeka Tiwari: from Sam Bankman-fried, where let's say DCG has to file bankruptcy, 225 00:12:29,910 --> 00:12:34,140 Teeka Tiwari: they have to liquidate the Gbtc trust and start smacking 226 00:12:34,140 --> 00:12:37,830 Teeka Tiwari: the bid with all that Bitcoin. And then let's say 227 00:12:37,980 --> 00:12:41,429 Teeka Tiwari: that then unwinds tether, which we then find out is 228 00:12:41,429 --> 00:12:45,090 Teeka Tiwari: a fraud, or Binance has a huge problem. And let's 229 00:12:45,090 --> 00:12:48,640 Teeka Tiwari: say hypothetically, they have a fraud problem. To a situation 230 00:12:48,640 --> 00:12:53,740 Teeka Tiwari: like that where you have massive systemic rollout risk. You know, 231 00:12:53,740 --> 00:12:57,400 Teeka Tiwari: 9 to $11000 Bitcoin is not out of the question. 232 00:12:58,270 --> 00:13:01,330 Joel Comm: Well, this story just popped up on Reuters today. World 233 00:13:01,330 --> 00:13:05,800 Joel Comm: Bank warns global economy could tip into recession in 2023. 234 00:13:06,250 --> 00:13:10,150 Joel Comm: So the bankers, the bankers are, you know, sounding an alarm. 235 00:13:10,510 --> 00:13:14,190 Joel Comm: At the very least here. They're slashing their forecasts on 236 00:13:14,200 --> 00:13:20,680 Joel Comm: growth and and saying they expect global GDP of 1.7% 237 00:13:20,679 --> 00:13:24,910 Joel Comm: in 2023, which is as slow as it's been outside 238 00:13:24,910 --> 00:13:28,240 Joel Comm: of the 2009 2020 recession since 1993. 239 00:13:28,600 --> 00:13:31,510 Teeka Tiwari: Yeah, but but if you look at Wall Street estimates, 240 00:13:31,510 --> 00:13:34,689 Teeka Tiwari: they've barely moved. They're saying that that earnings will come 241 00:13:34,690 --> 00:13:36,550 Teeka Tiwari: down maybe three or 4%. 242 00:13:36,660 --> 00:13:37,329 Joel Comm: They don't care. 243 00:13:37,840 --> 00:13:40,100 Teeka Tiwari: Well, think about what they're in the business out there. 244 00:13:40,200 --> 00:13:43,479 Teeka Tiwari: They're called sell side analysts for a reason. Right. Their 245 00:13:43,480 --> 00:13:46,240 Teeka Tiwari: job is to sell stocks and to sell deals that 246 00:13:46,240 --> 00:13:49,660 Teeka Tiwari: they have positions in or that are investment banking clients. 247 00:13:50,530 --> 00:13:52,960 Teeka Tiwari: You know if a sell side analysts lips are moving, 248 00:13:52,960 --> 00:13:54,070 Teeka Tiwari: you know he's lying. 249 00:13:54,400 --> 00:13:58,720 Joel Comm: So their job is to sell retail to mom and pop, 250 00:13:58,720 --> 00:14:02,109 Joel Comm: take their money and give it to the big financial institutions, right? Correct. 251 00:14:02,140 --> 00:14:05,589 Joel Comm: That's what they do every day, all day. It's it's 252 00:14:05,590 --> 00:14:06,580 Joel Comm: a chump bet. Yeah. 253 00:14:06,790 --> 00:14:09,370 Teeka Tiwari: But that's not to say there aren't pockets of value 254 00:14:09,370 --> 00:14:12,310 Teeka Tiwari: in the stock market. There are. What I'm saying is, 255 00:14:12,610 --> 00:14:16,450 Teeka Tiwari: is that just be patient. Now is not the time 256 00:14:16,450 --> 00:14:19,180 Teeka Tiwari: to FOMO. There's a time where it makes sense to 257 00:14:19,180 --> 00:14:23,500 Teeka Tiwari: FOMO early to mid-stage of a bull market. Yes, FOMO. 258 00:14:23,530 --> 00:14:25,540 Teeka Tiwari: You'll make a ton of money. FOMO and being too 259 00:14:25,540 --> 00:14:28,750 Teeka Tiwari: conservative will actually hurt you in a market like that. 260 00:14:28,960 --> 00:14:32,710 Teeka Tiwari: But we're only in year one of a crypto bear 261 00:14:32,710 --> 00:14:35,650 Teeka Tiwari: market that normally goes for two, two and a half years. 262 00:14:35,800 --> 00:14:38,170 Teeka Tiwari: And we're only in year one of an equity bear 263 00:14:38,170 --> 00:14:41,530 Teeka Tiwari: market in a situation where interest rates are actually going up, 264 00:14:41,530 --> 00:14:46,150 Teeka Tiwari: not going down. So it there is no reason to FOMO. 265 00:14:46,900 --> 00:14:49,870 Teeka Tiwari: You know what I'm buying right now? 30 and 90 266 00:14:49,870 --> 00:14:53,260 Teeka Tiwari: day government bonds. That's it. And then I'm waiting. 267 00:14:53,800 --> 00:14:56,280 Joel Comm: But you're not selling. You're. You're Bitcoin. You're not. 268 00:14:56,410 --> 00:14:58,900 Teeka Tiwari: I've never sold my Bitcoin from the first Bitcoin I 269 00:14:58,900 --> 00:15:02,729 Teeka Tiwari: bought back in 2016 for 400 and change. I don't 270 00:15:02,730 --> 00:15:04,930 Teeka Tiwari: I don't sell my Bitcoin. I don't trade my bitcoin, 271 00:15:05,260 --> 00:15:08,500 Teeka Tiwari: trading your bitcoin. And I got to make a lot 272 00:15:08,500 --> 00:15:11,710 Teeka Tiwari: of enemies during this is one of the stupidest decisions 273 00:15:11,710 --> 00:15:14,120 Teeka Tiwari: you could ever make. Stupid, stupid. 274 00:15:14,140 --> 00:15:16,600 Joel Comm: I have sold the bottoms so many times. You may 275 00:15:16,600 --> 00:15:18,910 Joel Comm: as well just look at me and say stupid, stupid, stupid. 276 00:15:18,910 --> 00:15:23,880 Joel Comm: Because I know I it's. I don't know why I've capitulated. 277 00:15:23,890 --> 00:15:29,950 Joel Comm: I understand capitulating once, but making the same mistake twice. That's. Yeah, 278 00:15:29,980 --> 00:15:30,910 Joel Comm: I didn't learn from it. 279 00:15:30,940 --> 00:15:34,660 Teeka Tiwari: Here's the key with bitcoin. Buy it. Don't use leverage. 280 00:15:34,900 --> 00:15:38,320 Teeka Tiwari: Use your own wallet. Put it away. And just don't 281 00:15:38,320 --> 00:15:41,830 Teeka Tiwari: think about it. Go live your life. Okay. The Bitcoin 282 00:15:41,830 --> 00:15:45,670 Teeka Tiwari: is there to do the heavy lifting for you over time. 283 00:15:46,000 --> 00:15:47,920 Teeka Tiwari: If you want to sit there and gamble your way 284 00:15:47,920 --> 00:15:51,880 Teeka Tiwari: and try to become a multimillionaire gambling, fine. Do that. 285 00:15:51,880 --> 00:15:54,400 Teeka Tiwari: But know that you're doing that. But if you want 286 00:15:54,400 --> 00:15:56,740 Teeka Tiwari: to own Bitcoin and you want to own a long 287 00:15:56,770 --> 00:15:59,770 Teeka Tiwari: term asset, that will compound for you at a faster 288 00:15:59,770 --> 00:16:02,860 Teeka Tiwari: rate than any other asset in the world will for 289 00:16:02,860 --> 00:16:05,560 Teeka Tiwari: you at least any other traditional asset, then all you 290 00:16:05,560 --> 00:16:08,650 Teeka Tiwari: have to do is be smart enough to do nothing. 291 00:16:09,130 --> 00:16:09,670 Teeka Tiwari: That's it. 292 00:16:11,140 --> 00:16:12,820 Joel Comm: Yeah. I'm good at doing nothing. 293 00:16:13,690 --> 00:16:15,550 Travis Wright: That that is an interesting thing. So now there's a 294 00:16:15,550 --> 00:16:17,200 Travis Wright: lot of people who are like, okay, so I've gotten 295 00:16:17,200 --> 00:16:19,060 Travis Wright: out of some shit coins and you're putting them in 296 00:16:19,160 --> 00:16:22,840 Travis Wright: some stablecoins and people are thinking, okay, the stablecoin, it's 297 00:16:22,840 --> 00:16:26,320 Travis Wright: in my wallet, it should be secure. But sometimes these 298 00:16:26,320 --> 00:16:29,590 Travis Wright: stablecoins are not secure. So it's like, what? What would 299 00:16:29,590 --> 00:16:31,810 Travis Wright: you suggest to somebody who's like, they pulled money out 300 00:16:31,810 --> 00:16:34,800 Travis Wright: of the market and it's sitting in usdc or USD 301 00:16:35,200 --> 00:16:37,690 Travis Wright: and it's not doing much. They're scared of Defi right 302 00:16:37,690 --> 00:16:39,460 Travis Wright: now and they're just kind of chillin on it like. 303 00:16:39,760 --> 00:16:42,610 Teeka Tiwari: Buy 90 day government bonds that are guaranteed and yielding 304 00:16:42,610 --> 00:16:44,740 Teeka Tiwari: 4 to 4 and a half percent and just wait. 305 00:16:45,700 --> 00:16:46,990 Teeka Tiwari: That's it. Just wait. 306 00:16:47,080 --> 00:16:48,640 Travis Wright: Do you need to pull it out of the market, 307 00:16:48,640 --> 00:16:51,250 Travis Wright: out of crypto, into cash and then trade that and 308 00:16:51,340 --> 00:16:52,330 Travis Wright: Ameritrade or something? 309 00:16:52,360 --> 00:16:55,989 Teeka Tiwari: You got Ameritrade, Fidelity and you can you can go 310 00:16:55,990 --> 00:16:59,920 Teeka Tiwari: directly to Treasury Direct and buy your bonds directly from 311 00:16:59,920 --> 00:17:03,190 Teeka Tiwari: the government, buy some bonds, go enjoy your life and 312 00:17:03,190 --> 00:17:07,510 Teeka Tiwari: be patient and wait. We've all been through bull markets before. 313 00:17:07,510 --> 00:17:09,610 Teeka Tiwari: We know they don't just go straight up, right. They 314 00:17:09,609 --> 00:17:12,330 Teeka Tiwari: always give you multiple opportunities to get back on bull. 315 00:17:12,340 --> 00:17:15,340 Joel Comm: And then they end in tears and weeping and gnashing 316 00:17:15,340 --> 00:17:15,760 Joel Comm: of teeth. 317 00:17:15,940 --> 00:17:18,730 Travis Wright: But what happens when the dollar collapses? 318 00:17:18,790 --> 00:17:22,330 Teeka Tiwari: The dollar is not going to collapse. That is another. Okay, 319 00:17:22,330 --> 00:17:25,500 Teeka Tiwari: here we go. Here was just some just total garbage. 320 00:17:25,500 --> 00:17:27,369 Teeka Tiwari: Should have been people have been talking about for the 321 00:17:27,369 --> 00:17:29,199 Teeka Tiwari: last 30 years. Do you know what there is in 322 00:17:29,200 --> 00:17:31,960 Teeka Tiwari: the world? Hundreds of trillions of dollars? Were you going 323 00:17:31,960 --> 00:17:33,609 Teeka Tiwari: to put that you're going to put that in the 324 00:17:33,609 --> 00:17:36,459 Teeka Tiwari: Chinese currency where they're going to confiscate all your money, 325 00:17:36,640 --> 00:17:38,350 Teeka Tiwari: You're going to put that in. The Swiss franc will 326 00:17:38,350 --> 00:17:40,930 Teeka Tiwari: blow up the Swiss franc. It's not big enough. You're 327 00:17:40,930 --> 00:17:43,510 Teeka Tiwari: going to go put it in Japanese yen. Yeah, good 328 00:17:43,510 --> 00:17:46,690 Teeka Tiwari: luck with that. There's only so many places you can 329 00:17:46,690 --> 00:17:50,410 Teeka Tiwari: put that much money. There's the only bucket big enough, 330 00:17:50,740 --> 00:17:55,480 Teeka Tiwari: and the only place that that protects your property ownership 331 00:17:55,480 --> 00:17:59,050 Teeka Tiwari: rights is the United States. Say what you want about 332 00:17:59,050 --> 00:18:02,710 Teeka Tiwari: America are property ownership rights and all contract law here 333 00:18:02,950 --> 00:18:06,550 Teeka Tiwari: is second to none. So at the end of the day, 334 00:18:06,550 --> 00:18:08,230 Teeka Tiwari: you can hate on America all you want. You can 335 00:18:08,230 --> 00:18:10,660 Teeka Tiwari: say they print all they want. No one is destroying 336 00:18:10,660 --> 00:18:13,480 Teeka Tiwari: the dollar any time soon. Yes, it's a broken system. 337 00:18:13,780 --> 00:18:17,109 Teeka Tiwari: Think of the dollar. As I've always said that the 338 00:18:17,109 --> 00:18:20,740 Teeka Tiwari: dollar is is is the is. He's the skinniest fat 339 00:18:20,740 --> 00:18:23,980 Teeka Tiwari: guy in a room of unhealthy fat guys. Right? They're 340 00:18:23,980 --> 00:18:27,880 Teeka Tiwari: all unhealthy. They're all got type two diabetes. They're all 341 00:18:27,880 --> 00:18:30,820 Teeka Tiwari: doing the wrong thing. But he's the healthiest guy in 342 00:18:30,820 --> 00:18:31,180 Teeka Tiwari: the room. 343 00:18:31,220 --> 00:18:33,159 Travis Wright: That's not me because I'm the fattest guy here. 344 00:18:33,340 --> 00:18:34,929 Joel Comm: I don't know. You look lighter than I saw you 345 00:18:34,930 --> 00:18:35,530 Joel Comm: last time. 346 00:18:35,950 --> 00:18:38,530 Travis Wright: That. So let me ask this then. So the U.S. 347 00:18:38,530 --> 00:18:41,500 Travis Wright: dollar is not going to crash, but what they converted 348 00:18:41,500 --> 00:18:44,710 Travis Wright: to the digital currency. Right. Which is scared a lot 349 00:18:44,710 --> 00:18:46,899 Travis Wright: of people. We're talking to people and they're going, oh, man. 350 00:18:46,900 --> 00:18:50,140 Travis Wright: And when you see some of the how cbdcs can 351 00:18:50,140 --> 00:18:52,390 Travis Wright: be programmed as like, oh, well, we're going to give 352 00:18:52,390 --> 00:18:55,810 Travis Wright: you your universal basic income and oh, you don't have 353 00:18:56,230 --> 00:18:59,469 Travis Wright: your latest update so you don't get your cbdc Or 354 00:18:59,470 --> 00:19:02,770 Travis Wright: maybe there's a it's restricted with the time frame they 355 00:19:02,770 --> 00:19:06,580 Travis Wright: can expire. So some of this stuff about the cbdcs 356 00:19:06,580 --> 00:19:08,290 Travis Wright: really freaking people out long term. 357 00:19:08,290 --> 00:19:13,150 Teeka Tiwari: Well, they should, but that's 1012 years. 358 00:19:13,230 --> 00:19:14,020 Travis Wright: Really. 359 00:19:14,020 --> 00:19:15,820 Teeka Tiwari: From that. That's not going to happen right away. Think 360 00:19:15,820 --> 00:19:20,740 Teeka Tiwari: about all the constitutional issues, right, of having state issued 361 00:19:20,740 --> 00:19:23,169 Teeka Tiwari: money and then think about what happens if the Federal 362 00:19:23,170 --> 00:19:27,220 Teeka Tiwari: Reserve is issuing money. It will automatically defund the entire U.S. 363 00:19:27,220 --> 00:19:30,369 Teeka Tiwari: banking system because nobody will want to have money within 364 00:19:30,369 --> 00:19:34,030 Teeka Tiwari: the individual banks. Is there's a lot of of potential 365 00:19:34,030 --> 00:19:37,540 Teeka Tiwari: problems of rolling that out. And the Federal Reserve, they 366 00:19:37,540 --> 00:19:40,530 Teeka Tiwari: don't want to break anything. Right. They would rather move slowly. 367 00:19:40,540 --> 00:19:43,600 Teeka Tiwari: I agree with you. It's eventually coming. You pull that 368 00:19:43,600 --> 00:19:48,940 Teeka Tiwari: camera back far enough. Cbdcs are definitively coming. But by then, 369 00:19:49,720 --> 00:19:52,750 Teeka Tiwari: certainly my hope is that we will be on the 370 00:19:52,750 --> 00:19:57,280 Teeka Tiwari: way to hyper Bitcoin ization. Bitcoin will be much more valuable, 371 00:19:57,280 --> 00:20:03,070 Teeka Tiwari: much larger. We'll have very good low cost net payment 372 00:20:03,070 --> 00:20:06,670 Teeka Tiwari: networks and then there'll be an actual alternative to Cbdcs. 373 00:20:06,760 --> 00:20:07,659 Teeka Tiwari: You're not very. 374 00:20:07,810 --> 00:20:11,170 Joel Comm: Optimistic and very reasonable in your approach. It's easy to, 375 00:20:11,170 --> 00:20:12,460 Joel Comm: you know, there's a lot of people with the sky 376 00:20:12,460 --> 00:20:15,700 Joel Comm: is falling, the sky is falling, and there's there's people, 377 00:20:15,700 --> 00:20:18,730 Joel Comm: a lot of people now they're saying, especially quarter two 378 00:20:18,730 --> 00:20:21,820 Joel Comm: is when we're going to really see the big crash 379 00:20:21,820 --> 00:20:24,340 Joel Comm: in the market that is is bound to come. But 380 00:20:24,340 --> 00:20:28,419 Joel Comm: I remember during the crypto bull market where people are 381 00:20:28,420 --> 00:20:31,990 Joel Comm: saying it's going from 65 to 100000, it's going to 382 00:20:31,990 --> 00:20:35,800 Joel Comm: go and everybody was pushing and what happened? It contrarian 383 00:20:35,800 --> 00:20:38,170 Joel Comm: went the other way. So now you got a the 384 00:20:38,170 --> 00:20:41,980 Joel Comm: majority are saying Bitcoin is not yet tested its lows. 385 00:20:42,280 --> 00:20:44,470 Joel Comm: What if everybody's wrong here the same way they were 386 00:20:44,470 --> 00:20:45,610 Joel Comm: wrong in the bull market? 387 00:20:45,760 --> 00:20:50,290 Teeka Tiwari: Well, the first things first is everybody here listening has 388 00:20:50,290 --> 00:20:53,800 Teeka Tiwari: a stake. So if if we if we're wrong, you're 389 00:20:53,800 --> 00:20:56,470 Teeka Tiwari: going to make money regardless. Right. Okay. The other thing 390 00:20:56,470 --> 00:20:59,140 Teeka Tiwari: is this is a case for why you should dollar 391 00:20:59,140 --> 00:21:02,710 Teeka Tiwari: cost average at least part of your capital, let's say, okay, 392 00:21:02,830 --> 00:21:05,260 Teeka Tiwari: I've got X amount of capital to allocate this year, 393 00:21:05,830 --> 00:21:09,070 Teeka Tiwari: take 30% of it and dollar cost average. Do it daily. 394 00:21:09,070 --> 00:21:11,379 Teeka Tiwari: Do it weekly. Do it month. So at least you 395 00:21:11,380 --> 00:21:15,220 Teeka Tiwari: have a position. The conundrum that you're talking about faces 396 00:21:15,490 --> 00:21:18,669 Teeka Tiwari: every investor, whether you invest in stocks, whether you invest 397 00:21:18,670 --> 00:21:22,900 Teeka Tiwari: in homes, whether you flip collectible cars, watches. Everybody has 398 00:21:22,900 --> 00:21:25,179 Teeka Tiwari: to deal with. That's that same issue because none of 399 00:21:25,180 --> 00:21:26,260 Teeka Tiwari: us have a crystal ball. 400 00:21:27,290 --> 00:21:29,630 Travis Wright: I'm actually looking for this thing on my phone where 401 00:21:30,770 --> 00:21:35,210 Travis Wright: if you see the map of 2008 2009 crash and 402 00:21:35,210 --> 00:21:38,270 Travis Wright: then how we're mapping out right now from the months 403 00:21:38,270 --> 00:21:41,660 Travis Wright: leading up to the crash, it's almost like identical. And 404 00:21:41,869 --> 00:21:44,420 Travis Wright: so it seemed like in 2008, 29, they just kind 405 00:21:44,420 --> 00:21:46,250 Travis Wright: of kicked the can down the road a little bit. 406 00:21:46,490 --> 00:21:49,970 Travis Wright: They did quantitative easing, printed a bunch of money and said, 407 00:21:49,970 --> 00:21:51,980 Travis Wright: we're going to handle this crash down the road. 408 00:21:52,130 --> 00:21:53,390 Joel Comm: And bailed out Wall. 409 00:21:53,390 --> 00:21:56,300 Travis Wright: Street. And here we are 15 years later, the kick 410 00:21:56,300 --> 00:21:59,240 Travis Wright: can kick in down the road. I mean, how crazy 411 00:21:59,240 --> 00:22:01,510 Travis Wright: could the crash be from your guys's, you know, a 412 00:22:01,520 --> 00:22:03,980 Travis Wright: Palm Beach research group? And you guys are looking at this. 413 00:22:04,369 --> 00:22:07,040 Travis Wright: How does this look? Are we looking at the market? 414 00:22:07,100 --> 00:22:09,890 Travis Wright: We're sitting at a market. We're going 40%, down 30%. 415 00:22:10,130 --> 00:22:12,040 Travis Wright: How big of a crash are we going to look at? 416 00:22:12,050 --> 00:22:14,480 Travis Wright: Or maybe it's a minimal crash. I mean, I don't know. 417 00:22:14,480 --> 00:22:16,490 Travis Wright: But there are some there's some sky is falling people. 418 00:22:16,490 --> 00:22:18,290 Travis Wright: And I think I fit in that sometimes. 419 00:22:19,040 --> 00:22:21,409 Teeka Tiwari: Again, I'm going to bring it back to interest rates. 420 00:22:21,410 --> 00:22:25,879 Teeka Tiwari: It all depends on interest rates. If interest rates stay 421 00:22:25,880 --> 00:22:29,960 Teeka Tiwari: where they are, the U.S. equity market, as measured by 422 00:22:29,960 --> 00:22:35,000 Teeka Tiwari: the S&P 500, is probably 15 to 20% overvalued. If 423 00:22:35,000 --> 00:22:39,320 Teeka Tiwari: interest rates start coming down, then the the the current 424 00:22:39,320 --> 00:22:43,400 Teeka Tiwari: valuation is fair value on the S&P 500. If interest 425 00:22:43,400 --> 00:22:49,400 Teeka Tiwari: rates go up, let's say they go up to five, six, 7%, 426 00:22:49,940 --> 00:22:53,000 Teeka Tiwari: then you're going to see equity prices drop. If we 427 00:22:53,000 --> 00:22:55,700 Teeka Tiwari: go to 7%, then equity prices are probably going to 428 00:22:55,700 --> 00:22:58,609 Teeka Tiwari: drop 25 to 30% more from here. But the key 429 00:22:58,609 --> 00:23:03,830 Teeka Tiwari: thing to remember is that 0809 was driven by a 430 00:23:03,830 --> 00:23:08,560 Teeka Tiwari: financial crisis because of bad collateral and and over lending. 431 00:23:08,570 --> 00:23:11,210 Teeka Tiwari: It's the same thing that's going on with Defi was 432 00:23:11,210 --> 00:23:14,359 Teeka Tiwari: going on back then, except Defi doesn't have any, you know, 433 00:23:14,359 --> 00:23:16,190 Teeka Tiwari: a big paper to no. 434 00:23:16,190 --> 00:23:16,760 Joel Comm: Bailouts. 435 00:23:16,760 --> 00:23:20,060 Teeka Tiwari: You know, like the Federal Reserve. Mm hmm. So what 436 00:23:20,060 --> 00:23:23,000 Teeka Tiwari: happened back in 0809, you had somebody who would take 437 00:23:23,000 --> 00:23:27,440 Teeka Tiwari: this one asset and they would borrow against it repeatedly, 438 00:23:27,619 --> 00:23:31,850 Teeka Tiwari: you know, six, seven, eight, you know, sometimes 38 times 439 00:23:32,119 --> 00:23:34,670 Teeka Tiwari: they would borrow against the same asset. So they can't 440 00:23:34,670 --> 00:23:37,220 Teeka Tiwari: do that anymore. That's not to say that you don't 441 00:23:37,220 --> 00:23:39,980 Teeka Tiwari: have some reckless borrowing going on in the financial system. 442 00:23:39,980 --> 00:23:43,490 Teeka Tiwari: You clearly do. You you mentioned it in passing when 443 00:23:43,490 --> 00:23:45,200 Teeka Tiwari: you talked about what was going on with the Bank 444 00:23:45,200 --> 00:23:48,290 Teeka Tiwari: of England. The reason why you had that massive wobble 445 00:23:48,290 --> 00:23:51,200 Teeka Tiwari: in the Bank of England is you saw interest rates 446 00:23:51,260 --> 00:23:54,919 Teeka Tiwari: go from about one and a half percent to four 447 00:23:54,920 --> 00:24:00,830 Teeka Tiwari: or 5% on long dated U.K. government debt. They're called gilts. 448 00:24:01,100 --> 00:24:04,730 Teeka Tiwari: So so why does that matter? It matters because the 449 00:24:04,730 --> 00:24:10,370 Teeka Tiwari: pension funds in the UK system were buying UK gilts 450 00:24:10,369 --> 00:24:14,180 Teeka Tiwari: at one and a half percent, leveraging them 4 to 1. 451 00:24:14,330 --> 00:24:17,780 Teeka Tiwari: So they were getting a 6% return on capital. But 452 00:24:17,780 --> 00:24:21,170 Teeka Tiwari: what happens when a bond that was issued and one 453 00:24:21,170 --> 00:24:24,960 Teeka Tiwari: and a half percent yield now goes to 5%? What happens? 454 00:24:24,980 --> 00:24:28,850 Teeka Tiwari: It drops in value by 75% and it wipes out 455 00:24:28,850 --> 00:24:32,750 Teeka Tiwari: your equity. And that's what happened. The entire pension fund system, 456 00:24:33,230 --> 00:24:38,360 Teeka Tiwari: the entire pension fund system for U.K. was bankrupt. And 457 00:24:38,359 --> 00:24:41,660 Teeka Tiwari: the only reason why that why those losses didn't have 458 00:24:41,660 --> 00:24:44,629 Teeka Tiwari: to get booked is because the Bank of England came 459 00:24:44,630 --> 00:24:47,450 Teeka Tiwari: in and said, we are going to buy an unlimited 460 00:24:47,450 --> 00:24:50,930 Teeka Tiwari: amount of long dated debt in order to bring these 461 00:24:50,930 --> 00:24:51,859 Teeka Tiwari: yields down. 462 00:24:51,920 --> 00:24:53,540 Travis Wright: So is that a down the road? 463 00:24:53,630 --> 00:24:56,420 Teeka Tiwari: Oh, no. Oh, it's 100% are kicking the can down 464 00:24:56,420 --> 00:24:58,850 Teeka Tiwari: the road. Now, this is what I believe is happening 465 00:24:58,850 --> 00:25:01,639 Teeka Tiwari: since that took place. Obviously, I don't know this for 466 00:25:01,640 --> 00:25:04,370 Teeka Tiwari: a fact, but what I think is happening is that 467 00:25:04,369 --> 00:25:08,540 Teeka Tiwari: you've you are probably seeing central bankers around the world 468 00:25:09,770 --> 00:25:13,129 Teeka Tiwari: speak to all of their member banks and saying, you've 469 00:25:13,130 --> 00:25:15,680 Teeka Tiwari: got to get in contact with all of your pension 470 00:25:15,680 --> 00:25:21,170 Teeka Tiwari: fund counterparties and get them off leverage because because otherwise 471 00:25:21,170 --> 00:25:23,180 Teeka Tiwari: they can't raise interest rates and they need to raise 472 00:25:23,180 --> 00:25:27,050 Teeka Tiwari: interest rates in order to bring inflation down. So I 473 00:25:27,050 --> 00:25:29,989 Teeka Tiwari: think that's what's happening right now, because as soon as 474 00:25:29,990 --> 00:25:33,859 Teeka Tiwari: that happened, you started seeing this really weird buying of 475 00:25:33,859 --> 00:25:37,129 Teeka Tiwari: the ten year Treasury in the US. And I'm looking 476 00:25:37,130 --> 00:25:39,860 Teeka Tiwari: at that and I'm like, Who's buying that? That's not 477 00:25:39,859 --> 00:25:42,950 Teeka Tiwari: a pension fund buying that. That's got to be some 478 00:25:42,950 --> 00:25:46,070 Teeka Tiwari: type of yield curve control happening by the Federal Reserve 479 00:25:46,280 --> 00:25:49,610 Teeka Tiwari: in order to mitigate some of this risk that we 480 00:25:49,609 --> 00:25:53,659 Teeka Tiwari: saw play out in the UK. So my guess is 481 00:25:53,660 --> 00:25:57,350 Teeka Tiwari: that is that the very large players that have big 482 00:25:57,350 --> 00:26:01,190 Teeka Tiwari: leveraged positions in bonds have deleveraged and now that that 483 00:26:01,190 --> 00:26:04,700 Teeka Tiwari: deleveraging is either done or mostly done, you are going 484 00:26:04,700 --> 00:26:07,190 Teeka Tiwari: to start seeing the interest rate on the ten year 485 00:26:07,190 --> 00:26:10,040 Teeka Tiwari: Treasury start to rise and also the interest rates in 486 00:26:10,040 --> 00:26:14,030 Teeka Tiwari: the UK start to rise quite dramatically. So if anybody 487 00:26:14,030 --> 00:26:17,359 Teeka Tiwari: has long, long dated bonds, you should take advantage of 488 00:26:17,359 --> 00:26:19,129 Teeka Tiwari: this rally and get out of them. And if you 489 00:26:19,130 --> 00:26:21,590 Teeka Tiwari: want to stay in bonds, go short, dated, go, go. 490 00:26:21,590 --> 00:26:24,980 Teeka Tiwari: 90 days, six months. But but do not take long 491 00:26:24,980 --> 00:26:28,040 Teeka Tiwari: duration risk at this. It just. It just doesn't make any. 492 00:26:28,130 --> 00:26:30,380 Joel Comm: You are a licensed financial advisor? 493 00:26:30,410 --> 00:26:33,350 Teeka Tiwari: No, I am not a licensed financial. So none of 494 00:26:33,350 --> 00:26:34,520 Teeka Tiwari: this is financial. Okay. 495 00:26:34,580 --> 00:26:35,620 Joel Comm: Just. Just Jack and. 496 00:26:35,790 --> 00:26:38,399 Teeka Tiwari: I am just giving my perspective. 497 00:26:38,420 --> 00:26:41,060 Joel Comm: So what does this tell you? The price of gold 498 00:26:41,060 --> 00:26:45,850 Joel Comm: is approaching 1900 dollars again. So it's. I don't know. 499 00:26:45,859 --> 00:26:49,450 Joel Comm: It's supposed to be a core corollary with the dollar, Right? 500 00:26:49,490 --> 00:26:52,070 Teeka Tiwari: Been trading sideways for ten years. The dollar goes down, 501 00:26:52,070 --> 00:26:54,950 Teeka Tiwari: gold goes up. Uh, I don't know so much. 502 00:26:54,950 --> 00:26:56,590 Travis Wright: Fake gold and fake silver paper. 503 00:26:56,600 --> 00:26:58,020 Teeka Tiwari: I don't even look at gold anymore. 504 00:26:58,130 --> 00:27:01,580 Joel Comm: Don't know about this. I mean, sideways. Ten years ago, 505 00:27:01,580 --> 00:27:04,280 Joel Comm: it was. Where are we at? Here. I'm looking at 506 00:27:04,280 --> 00:27:09,320 Joel Comm: the actual price. It was around 1100 dollars, you know, 507 00:27:09,320 --> 00:27:13,030 Joel Comm: So it got as high as 2000. I mean, but. 508 00:27:13,380 --> 00:27:13,580 Teeka Tiwari: That's. 509 00:27:13,670 --> 00:27:13,909 Joel Comm: That's a. 510 00:27:13,910 --> 00:27:14,270 Teeka Tiwari: Pretty. 511 00:27:14,780 --> 00:27:17,720 Joel Comm: That's a pretty steep. But, you know, increase there. 512 00:27:18,160 --> 00:27:20,780 Travis Wright: So that always makes me sad because I look at 513 00:27:20,780 --> 00:27:23,990 Travis Wright: that and I know in 2009 and 2010 and 11, 514 00:27:23,990 --> 00:27:26,990 Travis Wright: I was buying gold and silver instead of buying Bitcoin. 515 00:27:27,260 --> 00:27:29,210 Travis Wright: And then if I had done that, I would, you know, 516 00:27:29,210 --> 00:27:31,399 Travis Wright: I'd probably be closed in at a certain point at 517 00:27:31,400 --> 00:27:34,129 Travis Wright: near $1,000,000,000. But instead I have like half of the 518 00:27:34,130 --> 00:27:36,859 Travis Wright: value that I spent on the gold and silver because 519 00:27:36,859 --> 00:27:40,080 Travis Wright: the prices were. Abby And then what? I was like, Oh, 520 00:27:40,580 --> 00:27:42,950 Travis Wright: so I knew something was coming and my just strategy 521 00:27:42,950 --> 00:27:43,490 Travis Wright: was not the best. 522 00:27:43,490 --> 00:27:46,460 Teeka Tiwari: But the thing to remember is the core buyer of gold. 523 00:27:47,060 --> 00:27:50,570 Teeka Tiwari: They're dying. There are people those core buyers are in 524 00:27:50,570 --> 00:27:53,510 Teeka Tiwari: their seventies and eighties now, and the people that are 525 00:27:53,510 --> 00:27:57,500 Teeka Tiwari: coming up that would would normally buy gold, well, they're 526 00:27:57,500 --> 00:28:00,830 Teeka Tiwari: buying Bitcoin, right? So if you look at the demographics 527 00:28:00,830 --> 00:28:06,290 Teeka Tiwari: over the next 20 years, you've got Gen Z, Gen X, 528 00:28:06,290 --> 00:28:09,530 Teeka Tiwari: and then Gen Y, they're going to be inheriting about 529 00:28:09,530 --> 00:28:11,869 Teeka Tiwari: $68 trillion in value. 530 00:28:11,900 --> 00:28:12,590 Travis Wright: In gold as. 531 00:28:12,680 --> 00:28:15,260 Teeka Tiwari: Well. No, no, just, just just in value valuation. Yeah. 532 00:28:15,260 --> 00:28:18,290 Teeka Tiwari: What I'm saying is that that value is not going 533 00:28:18,290 --> 00:28:21,379 Teeka Tiwari: to trickle into gold. That value is going to trickle it. 534 00:28:21,380 --> 00:28:23,869 Teeka Tiwari: Certainly much of that is going to trickle into Bitcoin, 535 00:28:24,170 --> 00:28:28,270 Teeka Tiwari: Etherium and the crypto ecosystem, but it's not going into gold. 536 00:28:28,280 --> 00:28:32,240 Teeka Tiwari: I think gold is outside of maybe some brief moments 537 00:28:32,240 --> 00:28:36,440 Teeka Tiwari: where gold has spikes which are impossible to predict. Think 538 00:28:36,440 --> 00:28:39,229 Teeka Tiwari: about this. We've seen the worst inflation in 40 years. 539 00:28:39,440 --> 00:28:41,930 Teeka Tiwari: It would be you could have been totally right four 540 00:28:41,930 --> 00:28:43,700 Teeka Tiwari: years ago and said we're going to see out of 541 00:28:43,700 --> 00:28:48,260 Teeka Tiwari: control 40 year inflation, load up on gold, buy gold futures, 542 00:28:48,260 --> 00:28:50,150 Teeka Tiwari: you're going to make a fortune and you would have 543 00:28:50,150 --> 00:28:51,140 Teeka Tiwari: looked like a dummy. 544 00:28:51,140 --> 00:28:53,780 Joel Comm: So what they said they'd never seen buy silver and, 545 00:28:53,780 --> 00:28:55,729 Joel Comm: you know, stock up now silver is going to go 546 00:28:55,730 --> 00:28:57,280 Joel Comm: to the moon. Silver is going to catch up with, 547 00:28:57,380 --> 00:28:58,010 Joel Comm: you know, there's too. 548 00:28:58,010 --> 00:29:01,160 Travis Wright: Much manipulation in the space. If if that wasn't the case, 549 00:29:01,160 --> 00:29:03,560 Travis Wright: then maybe that would be so. It at least it 550 00:29:03,560 --> 00:29:05,900 Travis Wright: seems like that to me. But it's like also, I've 551 00:29:05,900 --> 00:29:08,030 Travis Wright: always looked at this and I go, man, you know, 552 00:29:08,030 --> 00:29:12,410 Travis Wright: how is gold not ever really tied to Bitcoin at 553 00:29:12,410 --> 00:29:15,110 Travis Wright: all in a way that's easily accessible for people? It's 554 00:29:15,110 --> 00:29:18,080 Travis Wright: like really, right now, one Bitcoin is worth eight and 555 00:29:18,080 --> 00:29:22,040 Travis Wright: a half ounces of gold at the high at $69, 556 00:29:22,040 --> 00:29:25,190 Travis Wright: like 30 something ounces of gold for one day connected 557 00:29:25,360 --> 00:29:28,790 Travis Wright: me like that's like, whoa, like that. The dollar, the 558 00:29:28,790 --> 00:29:32,120 Travis Wright: dollar over time teeters and the value of it, but 559 00:29:32,120 --> 00:29:35,510 Travis Wright: it's like it's costing $8, $9 to go buy a 560 00:29:35,510 --> 00:29:38,690 Travis Wright: dozen eggs now. Right. And so it's almost like how 561 00:29:39,020 --> 00:29:40,280 Travis Wright: how many bitcoins per egg. 562 00:29:40,340 --> 00:29:43,040 Teeka Tiwari: But the thing is that the dollar is not a 563 00:29:43,040 --> 00:29:46,130 Teeka Tiwari: store of value. If you're using the dollar, that's a value. 564 00:29:46,130 --> 00:29:49,760 Teeka Tiwari: You know, you need to do some remedial training. 565 00:29:49,760 --> 00:29:51,290 Travis Wright: You don't want to keep your money in a bank account. 566 00:29:51,290 --> 00:29:53,000 Travis Wright: You don't want to keep it in a stablecoin You 567 00:29:53,000 --> 00:29:54,740 Travis Wright: don't want to keep it in gold or silver. You 568 00:29:54,740 --> 00:29:55,340 Travis Wright: don't want to keep it. 569 00:29:55,440 --> 00:29:58,280 Teeka Tiwari: Again, again, this is I'm not telling anybody what to do. 570 00:29:58,370 --> 00:30:01,940 Teeka Tiwari: This is what I'm doing. I own short term government bonds. Sure, 571 00:30:01,940 --> 00:30:04,070 Teeka Tiwari: four and a half percent, which is what you're getting 572 00:30:04,070 --> 00:30:07,730 Teeka Tiwari: on government bonds is probably half the current inflation rate. 573 00:30:07,730 --> 00:30:08,090 Travis Wright: Right. 574 00:30:08,240 --> 00:30:11,120 Teeka Tiwari: But last year, would you prefer to have lost four 575 00:30:11,120 --> 00:30:13,040 Teeka Tiwari: and a half percent or the amount of money that you. 576 00:30:13,040 --> 00:30:13,729 Travis Wright: Lost across. 577 00:30:13,730 --> 00:30:14,180 Teeka Tiwari: The board? 578 00:30:14,230 --> 00:30:16,940 Travis Wright: Yeah, jeez. In some cases some of my cryptos are 579 00:30:16,940 --> 00:30:19,380 Travis Wright: down 90 something percent. I mean, you're looking at that 580 00:30:19,380 --> 00:30:22,000 Travis Wright: and it's just like, Oh, it hurts. Please make it stop. Gold. 581 00:30:22,020 --> 00:30:22,790 Travis Wright: Please make it stop. 582 00:30:24,200 --> 00:30:26,750 Joel Comm: So U.S. government, everybody can buy U.S. government bonds on 583 00:30:26,750 --> 00:30:27,860 Joel Comm: any brokerage, right? 584 00:30:27,860 --> 00:30:29,630 Teeka Tiwari: Basically, yeah. And if I ever get in trouble for 585 00:30:29,630 --> 00:30:32,060 Teeka Tiwari: telling people to buy U.S. government bonds, you know, I mean, 586 00:30:32,420 --> 00:30:34,340 Teeka Tiwari: I don't know what I could do. There's nothing the 587 00:30:34,340 --> 00:30:36,860 Teeka Tiwari: safest instrument in the world. Again, go no more than 588 00:30:36,860 --> 00:30:39,620 Teeka Tiwari: 90 days or 60 or 90, 90 days to six 589 00:30:39,620 --> 00:30:43,310 Teeka Tiwari: months out, because you don't want that that the longer 590 00:30:43,310 --> 00:30:47,150 Teeka Tiwari: you go out on bonds, the higher your risk is 591 00:30:47,150 --> 00:30:50,270 Teeka Tiwari: to changes in interest rate. They call that duration. 592 00:30:50,390 --> 00:30:52,460 Travis Wright: I got a question around that. So say I go, 593 00:30:52,460 --> 00:30:54,710 Travis Wright: I've never bought a bond before ever. Right. So let's 594 00:30:54,710 --> 00:30:56,570 Travis Wright: say I go out and I buy a 30 day bond. 595 00:30:56,920 --> 00:30:59,300 Travis Wright: That 30 day is up. Does it automatically sell at 596 00:30:59,300 --> 00:31:01,250 Travis Wright: that particular price? You do. You got to go in and. 597 00:31:01,400 --> 00:31:03,320 Teeka Tiwari: No, you don't have to sell anything. What happens is 598 00:31:03,320 --> 00:31:05,990 Teeka Tiwari: you're lending the government money for 30 days. Yeah. And 599 00:31:05,990 --> 00:31:08,390 Teeka Tiwari: after 30 days they give you your money back and 600 00:31:08,390 --> 00:31:09,440 Teeka Tiwari: your a little bit of interest. 601 00:31:09,440 --> 00:31:11,920 Travis Wright: Okay. Well, nice. Very nice. Okay. 602 00:31:11,990 --> 00:31:18,890 Joel Comm: Automatic, easy peasy. So your your newsletter, very popular. Tell 603 00:31:18,890 --> 00:31:20,960 Joel Comm: people a little bit about, you know, what you do 604 00:31:20,960 --> 00:31:22,430 Joel Comm: at Palm Beach and Yeah. 605 00:31:22,430 --> 00:31:26,330 Teeka Tiwari: So Palm Beach Confidential we started that newsletter to cover the. 606 00:31:26,650 --> 00:31:31,720 Teeka Tiwari: So space. And in 2016 there really wasn't very good, 607 00:31:32,350 --> 00:31:36,340 Teeka Tiwari: unbiased research in crypto. And I say I'm biased because 608 00:31:37,320 --> 00:31:40,930 Teeka Tiwari: at least at our newsletter, we're not allowed to buy 609 00:31:40,930 --> 00:31:44,260 Teeka Tiwari: the things that we recommend. I can buy Bitcoin, I 610 00:31:44,260 --> 00:31:47,470 Teeka Tiwari: can buy Etherium. That's it. Anything outside of that that 611 00:31:47,470 --> 00:31:50,890 Teeka Tiwari: I've recommended, I can't buy. So we also don't take 612 00:31:50,890 --> 00:31:54,460 Teeka Tiwari: any outside sponsorship or advertising or anything of that nature. 613 00:31:54,460 --> 00:31:57,010 Teeka Tiwari: So we can go into the project, look at it, 614 00:31:57,190 --> 00:31:59,920 Teeka Tiwari: write about it, and not be beholden to anyone which 615 00:31:59,920 --> 00:32:03,160 Teeka Tiwari: has given us an edge over the years. And that's 616 00:32:03,160 --> 00:32:05,410 Teeka Tiwari: what we do is essentially where most of us are 617 00:32:05,410 --> 00:32:09,760 Teeka Tiwari: ex Wall Street guys and we take our due diligence 618 00:32:09,760 --> 00:32:13,660 Teeka Tiwari: approach and we, we write in a way that everybody 619 00:32:13,660 --> 00:32:16,120 Teeka Tiwari: can understand, but we also write in a way that 620 00:32:16,120 --> 00:32:18,820 Teeka Tiwari: respects the the research process that we all learned on 621 00:32:18,820 --> 00:32:19,240 Teeka Tiwari: Wall Street. 622 00:32:19,810 --> 00:32:21,640 Travis Wright: It seems to me like, Oh my God, you find 623 00:32:21,640 --> 00:32:24,070 Travis Wright: something just for example, Polygon, and you're like, Oh man. 624 00:32:24,070 --> 00:32:26,680 Travis Wright: But I'm not saying you think Polygon's grades are bad, 625 00:32:26,890 --> 00:32:28,720 Travis Wright: but you're like, Oh man, it's doing stuff with Disney. 626 00:32:28,720 --> 00:32:30,700 Travis Wright: It's got the great metrics they're building. They're doing all 627 00:32:30,700 --> 00:32:34,450 Travis Wright: this stuff, and you're like, Oh, I can't buy animatic, because. 628 00:32:34,930 --> 00:32:35,470 Teeka Tiwari: That's right. 629 00:32:35,650 --> 00:32:38,050 Travis Wright: Really? And you're like, Damn, I should get some matic. 630 00:32:38,290 --> 00:32:41,230 Travis Wright: So like, and so that's why it's a good idea 631 00:32:41,230 --> 00:32:43,030 Travis Wright: for you to be part of the newsletter because you 632 00:32:43,030 --> 00:32:45,070 Travis Wright: get to hear about these projects. You're doing deep dives 633 00:32:45,070 --> 00:32:49,020 Travis Wright: in and you guys aren't winning at all on these 634 00:32:49,220 --> 00:32:50,770 Travis Wright: antithetical getting paid. 635 00:32:50,770 --> 00:32:54,270 Joel Comm: So getting paid for the newsletter because he's got right. 636 00:32:54,340 --> 00:32:56,680 Teeka Tiwari: That's our revenue stream is the newsletter. So we have 637 00:32:56,680 --> 00:33:02,080 Teeka Tiwari: built our business around providing excellent research and that's that's 638 00:33:02,080 --> 00:33:05,490 Teeka Tiwari: our model. We make money off of subscription fees. That's it. 639 00:33:05,510 --> 00:33:07,360 Teeka Tiwari: So if we don't do a good job, we don't deliver, 640 00:33:07,990 --> 00:33:09,460 Teeka Tiwari: you know, Describer, I want. 641 00:33:09,460 --> 00:33:13,120 Travis Wright: A refund. Give me a refund. I lost 99% on 642 00:33:13,120 --> 00:33:15,190 Travis Wright: mad them and give a refund. I didn't lose that 643 00:33:15,190 --> 00:33:17,410 Travis Wright: much on Matic. Only about 85% of. 644 00:33:18,580 --> 00:33:20,020 Teeka Tiwari: Your price did your own backup. 645 00:33:21,190 --> 00:33:22,750 Joel Comm: To too many dollars. 646 00:33:22,930 --> 00:33:24,950 Travis Wright: Yeah. Yeah. I think Matt got it to to 50 647 00:33:24,950 --> 00:33:25,660 Travis Wright: to 60, you know. 648 00:33:25,660 --> 00:33:27,610 Joel Comm: Yeah. Somebody that's 85 $0.90. 649 00:33:27,910 --> 00:33:28,840 Travis Wright: It's okay down 60. 650 00:33:28,840 --> 00:33:30,030 Teeka Tiwari: It's only about 60%. 651 00:33:30,040 --> 00:33:33,280 Joel Comm: That's actually one of the biggest winners right now I 652 00:33:33,280 --> 00:33:36,580 Joel Comm: think in, in crypto. So you you worked on Wall Street. 653 00:33:36,580 --> 00:33:38,620 Joel Comm: Tell us some of the what are the dirty little 654 00:33:38,620 --> 00:33:40,780 Joel Comm: secrets there in the boys club. Okay. 655 00:33:40,780 --> 00:33:43,300 Teeka Tiwari: So one of the one of the biggest dirty little 656 00:33:43,300 --> 00:33:47,590 Teeka Tiwari: secrets on Wall Street is Wall Street does not want 657 00:33:47,590 --> 00:33:49,600 Teeka Tiwari: you to be rich. Now, they also don't want you 658 00:33:49,600 --> 00:33:52,420 Teeka Tiwari: to be broke. They want to keep you even and 659 00:33:52,420 --> 00:33:54,490 Teeka Tiwari: they want to milk you for fees. It's the reason 660 00:33:54,490 --> 00:33:57,400 Teeka Tiwari: why they say, let's just hook us hook you. They 661 00:33:57,740 --> 00:33:59,830 Teeka Tiwari: want to hook you up into their fee machine. They 662 00:33:59,830 --> 00:34:01,210 Teeka Tiwari: want to be able to take money from your account 663 00:34:01,210 --> 00:34:04,150 Teeka Tiwari: every month and put it into their high cost funds. 664 00:34:04,480 --> 00:34:08,920 Teeka Tiwari: And they just basically slowly bleed you dry for 30 years. 665 00:34:09,290 --> 00:34:12,549 Teeka Tiwari: That that's their biggest thing. It's like, don't blow customers up, 666 00:34:12,880 --> 00:34:16,300 Teeka Tiwari: keep them even and just keep them in this for. 667 00:34:16,600 --> 00:34:19,660 Joel Comm: Just just enough. Right. Talk about, you know, you want 668 00:34:19,660 --> 00:34:21,340 Joel Comm: to buy some stocks are going to go up. They're 669 00:34:21,340 --> 00:34:23,259 Joel Comm: going to go down. And you got Jim Cramer, you know, 670 00:34:23,260 --> 00:34:26,109 Joel Comm: shilling on TV, probably get paid well to do what 671 00:34:26,110 --> 00:34:29,170 Joel Comm: he's doing. And and and and what I'm told from 672 00:34:29,170 --> 00:34:34,150 Joel Comm: my friends and advisors is that buying stocks is a 673 00:34:34,150 --> 00:34:38,800 Joel Comm: chump bet that that's not what they're doing on Wall Street, 674 00:34:38,800 --> 00:34:41,560 Joel Comm: that they're playing with the in-between money. Right. With their 675 00:34:41,560 --> 00:34:44,380 Joel Comm: options and their futures. That's what the big boys do. 676 00:34:45,219 --> 00:34:49,899 Teeka Tiwari: There's a lot of different ways that that larger companies monetize. 677 00:34:49,900 --> 00:34:54,280 Teeka Tiwari: But just just remember, Wall Street's biggest profit center is you, 678 00:34:54,280 --> 00:34:56,259 Teeka Tiwari: the customer, always remember that. 679 00:34:56,560 --> 00:34:58,930 Travis Wright: So if it's like big Pharma, it's like every time 680 00:34:58,930 --> 00:35:02,650 Travis Wright: that you heal someone, you lose a customer. So they 681 00:35:02,650 --> 00:35:04,060 Travis Wright: don't they don't like that, right? 682 00:35:04,840 --> 00:35:08,200 Teeka Tiwari: So if you're looking to get involved in the stock market, 683 00:35:08,200 --> 00:35:13,359 Teeka Tiwari: you're much better off just buying a a an S&P 684 00:35:13,360 --> 00:35:17,770 Teeka Tiwari: 500 Vanguard fund, where I think it's about maybe ten 685 00:35:17,770 --> 00:35:20,230 Teeka Tiwari: basis points is what they charge you. You're going to 686 00:35:20,230 --> 00:35:24,880 Teeka Tiwari: beat 85% of all fund managers. And over a long 687 00:35:24,880 --> 00:35:27,489 Teeka Tiwari: period of time, you're going to beat more than 90% 688 00:35:27,730 --> 00:35:32,560 Teeka Tiwari: of the fund managers in the world. So so again, 689 00:35:32,560 --> 00:35:34,360 Teeka Tiwari: I you know, I know this is about crypto, but 690 00:35:34,360 --> 00:35:38,140 Teeka Tiwari: let's talk about investments and the attitude around investments. 691 00:35:38,200 --> 00:35:41,350 Joel Comm: It's about money. I mean, we're it's about the future. 692 00:35:41,350 --> 00:35:44,649 Joel Comm: It's about making good decisions. Yeah, it's bad crypto, but 693 00:35:44,650 --> 00:35:47,020 Joel Comm: the bad, you know, we're bad so we can talk 694 00:35:47,020 --> 00:35:47,860 Joel Comm: about wherever we want. 695 00:35:48,940 --> 00:35:52,420 Teeka Tiwari: Well, if you really care about making money and growing 696 00:35:52,420 --> 00:35:55,270 Teeka Tiwari: your net worth, the single biggest lever you have is 697 00:35:55,270 --> 00:35:58,600 Teeka Tiwari: your is your career. So you should look at your career. 698 00:35:58,600 --> 00:36:00,880 Teeka Tiwari: If your career does not give you the ability to 699 00:36:00,880 --> 00:36:03,400 Teeka Tiwari: make a lot of money, you need to change careers. 700 00:36:03,400 --> 00:36:06,250 Joel Comm: Travis, he's talking to us. Oh, man. 701 00:36:06,250 --> 00:36:10,270 Travis Wright: We we need to do the good Crypto podcast. It 702 00:36:10,489 --> 00:36:13,239 Travis Wright: will be the last episode of City. Once it's all 703 00:36:13,239 --> 00:36:15,640 Travis Wright: your fault, I blame. I blame myself. Never mind. I 704 00:36:15,640 --> 00:36:16,060 Travis Wright: blame me. 705 00:36:16,930 --> 00:36:20,680 Teeka Tiwari: So in terms of wealth creation, focus on a great career, 706 00:36:20,680 --> 00:36:24,460 Teeka Tiwari: focus on getting great at your career and increase your 707 00:36:24,460 --> 00:36:27,700 Teeka Tiwari: ability to earn. And then once you've. Your ability to earn. 708 00:36:27,700 --> 00:36:31,300 Teeka Tiwari: Don't increase your ability to spend. Reduce your. Reduce your 709 00:36:31,300 --> 00:36:35,080 Teeka Tiwari: spending and then invest the balance. Something as simple as 710 00:36:35,080 --> 00:36:39,400 Teeka Tiwari: an S&P 500 fund over time will develop enough wealth 711 00:36:39,400 --> 00:36:41,560 Teeka Tiwari: for you to retire on. And, of course, you know, 712 00:36:41,560 --> 00:36:43,900 Teeka Tiwari: I'm going to say buy a little bitcoin along the way. 713 00:36:44,170 --> 00:36:46,870 Teeka Tiwari: But it's a mistake to put your, in my opinion, 714 00:36:46,870 --> 00:36:50,020 Teeka Tiwari: to put your entire net worth into Bitcoin. I've always 715 00:36:50,020 --> 00:36:54,520 Teeka Tiwari: said the cryptos and Bitcoin are one small part of 716 00:36:54,850 --> 00:36:58,060 Teeka Tiwari: of a holistic wealth plan. They're not the be all 717 00:36:58,060 --> 00:37:00,550 Teeka Tiwari: and end all of everything you should do in order 718 00:37:00,550 --> 00:37:02,109 Teeka Tiwari: to create long term wealth. 719 00:37:02,440 --> 00:37:05,500 Travis Wright: It's a financial instrument, not the be all, end all, 720 00:37:05,500 --> 00:37:07,000 Travis Wright: and take a look and learn about some of these 721 00:37:07,000 --> 00:37:08,980 Travis Wright: other things. I think that's one of the reasons people 722 00:37:08,980 --> 00:37:10,660 Travis Wright: tune in to our show as well. For one, they 723 00:37:10,660 --> 00:37:13,180 Travis Wright: wanted to learn about crypto and to it's like, Well, 724 00:37:13,420 --> 00:37:15,170 Travis Wright: how do I make money? What do I need to do? 725 00:37:15,170 --> 00:37:18,880 Travis Wright: And so we've always been adamant about not giving financial advice, 726 00:37:18,880 --> 00:37:21,459 Travis Wright: but we bring people on who are intelligent enough to 727 00:37:21,640 --> 00:37:23,529 Travis Wright: to teach people what to do. So if you're listening 728 00:37:23,530 --> 00:37:25,990 Travis Wright: right now, pay attention to some of these things and 729 00:37:25,989 --> 00:37:29,020 Travis Wright: think about some of these other financial instruments, because right 730 00:37:29,020 --> 00:37:32,200 Travis Wright: now we're in a really interesting time in world history. 731 00:37:32,200 --> 00:37:33,070 Travis Wright: And so be safe. 732 00:37:33,250 --> 00:37:35,410 Teeka Tiwari: Right? Be safe. And the other thing is to think 733 00:37:35,410 --> 00:37:39,219 Teeka Tiwari: about your career right now and think about, okay, does 734 00:37:39,219 --> 00:37:40,870 Teeka Tiwari: my career have the ability to for me to make 735 00:37:40,870 --> 00:37:43,719 Teeka Tiwari: a lot of money? And then what are the people 736 00:37:43,719 --> 00:37:45,460 Teeka Tiwari: that are making a lot of money in my career 737 00:37:45,460 --> 00:37:48,430 Teeka Tiwari: doing so? Take one of those people out, identify them 738 00:37:48,430 --> 00:37:50,410 Teeka Tiwari: and take them out for lunch and you pay for 739 00:37:50,410 --> 00:37:50,830 Teeka Tiwari: the lunch. 740 00:37:51,370 --> 00:37:53,290 Joel Comm: And don't say, I want to pick your brain. 741 00:37:53,290 --> 00:37:54,520 Teeka Tiwari: Don't say I want to pick your brain. 742 00:37:54,520 --> 00:37:55,090 Joel Comm: I hate that. 743 00:37:55,090 --> 00:37:57,070 Teeka Tiwari: And just and just talk to them. 744 00:37:57,070 --> 00:37:58,720 Travis Wright: Don't say I want to pick your nose either, because 745 00:37:58,719 --> 00:37:59,259 Travis Wright: that's gross. 746 00:37:59,260 --> 00:38:03,580 Teeka Tiwari: Also, that's very gross. And just have I just say, listen, 747 00:38:04,000 --> 00:38:07,450 Teeka Tiwari: you know, I've really seen you've been incredibly successful. Tell 748 00:38:07,450 --> 00:38:10,600 Teeka Tiwari: me your story. What do you do different from everybody else? 749 00:38:10,600 --> 00:38:13,900 Teeka Tiwari: What makes you different? And somebody and if you just 750 00:38:13,900 --> 00:38:18,760 Teeka Tiwari: shut up and let that person speak and and that 751 00:38:18,760 --> 00:38:21,380 Teeka Tiwari: person will tell you the things that they've done, they've 752 00:38:21,430 --> 00:38:24,760 Teeka Tiwari: they've generally come in earlier. They work harder. They've they've 753 00:38:24,760 --> 00:38:28,900 Teeka Tiwari: done more. They've put themselves in the pathway of opportunity. 754 00:38:29,080 --> 00:38:31,989 Teeka Tiwari: They've taken on more. And maybe you might be sitting 755 00:38:31,989 --> 00:38:33,820 Teeka Tiwari: there and especially if you work for somebody else and 756 00:38:33,820 --> 00:38:35,620 Teeka Tiwari: you think, well, you know, if I do all that, 757 00:38:35,620 --> 00:38:37,960 Teeka Tiwari: I'm not going to get paid, or what do I 758 00:38:37,960 --> 00:38:41,529 Teeka Tiwari: do if that's not recognized by my employer? The thing 759 00:38:41,530 --> 00:38:44,919 Teeka Tiwari: to remember is you do all of that extra work, 760 00:38:45,370 --> 00:38:49,750 Teeka Tiwari: not for your employer, you do it for you. So 761 00:38:49,750 --> 00:38:52,570 Teeka Tiwari: you can become the type of person that gets better 762 00:38:52,570 --> 00:38:55,720 Teeka Tiwari: at what you're doing. So you can ultimately either make 763 00:38:55,719 --> 00:38:58,810 Teeka Tiwari: more money in the role you have or become more 764 00:38:58,810 --> 00:39:01,779 Teeka Tiwari: valuable in the marketplace so somebody else will pay you 765 00:39:01,780 --> 00:39:05,649 Teeka Tiwari: more money for what you do. It's about your development 766 00:39:05,650 --> 00:39:08,049 Teeka Tiwari: and there's no such thing as wasted effort. If you say, 767 00:39:08,050 --> 00:39:10,210 Teeka Tiwari: Oh my goodness, you know, I did all this extra work, 768 00:39:10,210 --> 00:39:12,489 Teeka Tiwari: I wrote this extra part, I went through these extra 769 00:39:12,489 --> 00:39:15,609 Teeka Tiwari: classes and and nobody in my company cares or nobody 770 00:39:15,610 --> 00:39:18,870 Teeka Tiwari: cares that I made extra money for the company. It 771 00:39:18,870 --> 00:39:22,279 Teeka Tiwari: doesn't matter. What matters is, is that you got better. 772 00:39:22,290 --> 00:39:25,500 Teeka Tiwari: Your confidence is going to increase. You can take that 773 00:39:25,500 --> 00:39:30,000 Teeka Tiwari: increased confidence and that increased competence and parlay it into 774 00:39:30,000 --> 00:39:33,660 Teeka Tiwari: another role that gets you more money. It's about developing 775 00:39:33,660 --> 00:39:35,640 Teeka Tiwari: you for your benefit. 776 00:39:36,540 --> 00:39:38,009 Travis Wright: I love that. You know, and that's one of the 777 00:39:38,010 --> 00:39:41,340 Travis Wright: things that I that I really did back in 2006. 778 00:39:41,340 --> 00:39:44,250 Travis Wright: I created a podcast called Cultivate Greatness. And I was like, 779 00:39:44,250 --> 00:39:45,960 Travis Wright: you know what? If I go and interview all these 780 00:39:45,960 --> 00:39:48,940 Travis Wright: amazing people, then some of that's going to rub off. 781 00:39:48,960 --> 00:39:51,450 Travis Wright: And now I have a lot of these amazing people 782 00:39:51,450 --> 00:39:54,420 Travis Wright: in my network. Right. And so, like even taking time 783 00:39:54,420 --> 00:39:57,420 Travis Wright: and just creating a podcast of some sort and interviewing 784 00:39:57,420 --> 00:39:59,730 Travis Wright: people will allow you to have access to people you 785 00:39:59,730 --> 00:40:00,989 Travis Wright: wouldn't usually have access to. 786 00:40:01,020 --> 00:40:04,500 Joel Comm: We call that the Jon Lee Dumas effect, right? That's 787 00:40:04,500 --> 00:40:07,290 Joel Comm: basically what everybody, Jon did. And so they're being successful 788 00:40:07,290 --> 00:40:09,839 Joel Comm: people and now is all the entrepreneurs are burning their 789 00:40:09,840 --> 00:40:13,350 Joel Comm: own fire. So I actually had a point and in 790 00:40:13,350 --> 00:40:16,859 Joel Comm: my bad joke there, I just I lost it completely. Oh, 791 00:40:16,860 --> 00:40:22,969 Joel Comm: I remember. So. Everybody can't do that, though, because as 792 00:40:23,660 --> 00:40:27,830 Joel Comm: was said in Caddyshack all those years ago by Ted. 793 00:40:28,520 --> 00:40:30,580 Joel Comm: What Ted and I want to say Ted Knight was 794 00:40:30,600 --> 00:40:34,130 Joel Comm: as name the comedian tonight. What he said was, well, Danny, 795 00:40:34,130 --> 00:40:39,590 Joel Comm: the world needs ditch diggers, too, right? Who would do 796 00:40:39,590 --> 00:40:45,290 Joel Comm: the the jobs? That you're not aspiring to greatness. You're 797 00:40:45,290 --> 00:40:48,500 Joel Comm: the you know, you're the clerk at a Wal-Mart. You're, 798 00:40:48,860 --> 00:40:49,310 Joel Comm: you know. 799 00:40:49,489 --> 00:40:52,760 Teeka Tiwari: So I have been both the ditch digger and the 800 00:40:52,760 --> 00:40:55,880 Teeka Tiwari: ditch owner. Right. And when I was let's call it 801 00:40:55,880 --> 00:40:59,930 Teeka Tiwari: Ditch Digger, working three jobs. Right. Working during the day 802 00:41:00,260 --> 00:41:03,410 Teeka Tiwari: and then working at night and then working on the weekends. 803 00:41:03,710 --> 00:41:06,650 Teeka Tiwari: I was still thinking about how do I get better 804 00:41:06,650 --> 00:41:11,150 Teeka Tiwari: at my job. I was still spending far less than 805 00:41:11,150 --> 00:41:13,129 Teeka Tiwari: I was earning. I was still. Right. 806 00:41:13,219 --> 00:41:16,610 Joel Comm: You're you're an achiever. And the world is not made 807 00:41:16,610 --> 00:41:19,700 Joel Comm: of achievers. There is a reason we have this bell 808 00:41:19,700 --> 00:41:23,540 Joel Comm: curve and we have this thing called average because the 809 00:41:23,540 --> 00:41:26,870 Joel Comm: majority of people look, they're they they go to their 810 00:41:26,870 --> 00:41:31,160 Joel Comm: jobs and they're not aspiring more to that. Their cash 811 00:41:31,160 --> 00:41:34,040 Joel Comm: in their checks, they're barely living within their means and 812 00:41:34,040 --> 00:41:37,370 Joel Comm: they have no hope of going beyond that in their 813 00:41:37,370 --> 00:41:39,380 Joel Comm: mind that this is as good as it gets. 814 00:41:39,570 --> 00:41:42,049 Teeka Tiwari: You're asking me how how do I how do I 815 00:41:42,050 --> 00:41:43,010 Teeka Tiwari: force change on the. 816 00:41:43,430 --> 00:41:43,930 Joel Comm: No, no. 817 00:41:43,980 --> 00:41:46,280 Travis Wright: I'm saying how do you get a swift kick in 818 00:41:46,280 --> 00:41:47,510 Travis Wright: the ass? You know what they're going to do? They're 819 00:41:47,510 --> 00:41:49,040 Travis Wright: going to change if they want to change. 820 00:41:49,190 --> 00:41:52,310 Teeka Tiwari: Right. That's the bottom line. I can't help those people. 821 00:41:52,520 --> 00:41:55,430 Teeka Tiwari: I'm here on this podcast and do this type of 822 00:41:55,430 --> 00:41:59,480 Teeka Tiwari: work for the person that wants to change that. The 823 00:41:59,480 --> 00:42:02,390 Teeka Tiwari: person that look is looking around their life and they're thinking, 824 00:42:03,110 --> 00:42:05,509 Teeka Tiwari: you know, my life's got to be better than this. 825 00:42:05,510 --> 00:42:08,510 Teeka Tiwari: There's got to be a better life than this. Like 826 00:42:08,510 --> 00:42:12,680 Teeka Tiwari: that guy, that girl, that person. I can help the 827 00:42:12,680 --> 00:42:15,109 Teeka Tiwari: person who sits around and is perfectly happy with their 828 00:42:15,110 --> 00:42:17,140 Teeka Tiwari: life as it is. God bless them. 829 00:42:17,150 --> 00:42:19,430 Joel Comm: I don't think they're happy, though. I don't. Well, some 830 00:42:19,430 --> 00:42:20,210 Joel Comm: people are, but. 831 00:42:20,210 --> 00:42:22,489 Travis Wright: I have to change, Joel, because air is coming and 832 00:42:22,489 --> 00:42:24,709 Travis Wright: it's here and it's getting crazy for a lot. 833 00:42:24,710 --> 00:42:26,600 Joel Comm: Of us. Are you going down that rabbit hole? You 834 00:42:26,600 --> 00:42:28,719 Joel Comm: going down? You see what's happened with A.I., with Chat, 835 00:42:28,790 --> 00:42:32,060 Joel Comm: GPT and Mid Journey, These images, you know, all of 836 00:42:32,060 --> 00:42:35,870 Joel Comm: a sudden, unless you are excellent as a photographer or 837 00:42:35,870 --> 00:42:39,170 Joel Comm: as a content creator, you're you're not going to be 838 00:42:39,170 --> 00:42:39,770 Joel Comm: needed anymore. 839 00:42:39,810 --> 00:42:43,580 Teeka Tiwari: I would say this is a warning that everyone listening 840 00:42:43,580 --> 00:42:48,410 Teeka Tiwari: to should pay attention to. If you have not made 841 00:42:49,310 --> 00:42:55,650 Teeka Tiwari: obtaining financial freedom your top priority. You are making a 842 00:42:55,650 --> 00:43:01,410 Teeka Tiwari: mistake of epic proportions because as I improves, economic opportunity 843 00:43:01,410 --> 00:43:03,810 Teeka Tiwari: will shrink at a scale that we have never, ever 844 00:43:03,810 --> 00:43:10,080 Teeka Tiwari: seen before. Economic opportunity is going to coalesce around the 845 00:43:10,080 --> 00:43:12,870 Teeka Tiwari: very smartest people in this world. 846 00:43:13,110 --> 00:43:15,549 Joel Comm: So where are the new opportunities? What's going to rise? 847 00:43:15,570 --> 00:43:17,520 Joel Comm: What are we going to have a need for? You 848 00:43:17,520 --> 00:43:20,420 Joel Comm: know what? With the horse and buggy, that thing goes away. 849 00:43:20,420 --> 00:43:22,410 Joel Comm: You know, you get the car, right, Self-driving cars are 850 00:43:22,410 --> 00:43:24,360 Joel Comm: going to come. Then you're not going to need Uber 851 00:43:24,360 --> 00:43:27,810 Joel Comm: drivers that came up in this, you know, shared economy. 852 00:43:28,650 --> 00:43:32,310 Joel Comm: Where are the opportunities going to rise? Have you thought 853 00:43:32,310 --> 00:43:33,029 Joel Comm: about this much? 854 00:43:33,719 --> 00:43:36,150 Teeka Tiwari: I haven't thought about it much, but I have thought about, okay, 855 00:43:36,180 --> 00:43:40,710 Teeka Tiwari: what are the core skills that are valuable no matter 856 00:43:40,710 --> 00:43:44,460 Teeka Tiwari: what world we live in? So one core skill that 857 00:43:44,640 --> 00:43:47,339 Teeka Tiwari: that let's say you you think you have no talent? 858 00:43:47,950 --> 00:43:52,080 Teeka Tiwari: I have average intelligence, but I'm not really particularly talented 859 00:43:52,080 --> 00:43:55,920 Teeka Tiwari: in anything. There's one core skill that any I believe 860 00:43:55,920 --> 00:43:59,700 Teeka Tiwari: anyone can learn that is the greatest equalizer. 861 00:43:59,910 --> 00:44:02,340 Joel Comm: It's juggling. I know he's going to say juggling. 862 00:44:03,010 --> 00:44:04,770 Travis Wright: Right? I thought it was going to be really, really, 863 00:44:04,770 --> 00:44:07,470 Travis Wright: really ridiculously good looking and humble. 864 00:44:07,620 --> 00:44:08,340 Joel Comm: And juggling. 865 00:44:09,210 --> 00:44:11,760 Teeka Tiwari: That have no learning how to sell. 866 00:44:12,180 --> 00:44:14,280 Joel Comm: See, I was wrong. I was learning. 867 00:44:14,280 --> 00:44:16,410 Teeka Tiwari: How to sell. Anyone can learn how to sell. Yeah. 868 00:44:16,890 --> 00:44:18,990 Teeka Tiwari: If you can learn how to sell, you will always 869 00:44:18,989 --> 00:44:21,990 Teeka Tiwari: be able to feed yourself and your family because yes, 870 00:44:22,230 --> 00:44:24,960 Teeka Tiwari: I will be able to learn how to sell. There is. 871 00:44:25,830 --> 00:44:26,880 Joel Comm: It's that personal to. 872 00:44:26,880 --> 00:44:30,150 Teeka Tiwari: That personal touch. It's going to be a long time 873 00:44:30,150 --> 00:44:32,910 Teeka Tiwari: before computers will be able to fill in that gap. 874 00:44:33,120 --> 00:44:35,490 Teeka Tiwari: And they will eventually, but it'll be a long time. 875 00:44:36,600 --> 00:44:40,020 Travis Wright: We are entering into a brave new world. Seriously, as 876 00:44:40,020 --> 00:44:42,299 Travis Wright: we're rushing to 2030, I mean, here we are. We're 877 00:44:42,300 --> 00:44:46,799 Travis Wright: in 2023. Yeah, 2030 will be here before we know it. Right. 878 00:44:46,800 --> 00:44:49,860 Travis Wright: And it seems to me like I'm looking at this. 879 00:44:50,190 --> 00:44:53,459 Travis Wright: Maybe it's because after 2012, we've entered into the Age 880 00:44:53,460 --> 00:44:56,100 Travis Wright: of Aquarius and things are just rapidly. But if you 881 00:44:56,100 --> 00:44:59,040 Travis Wright: look at the last 100 plus years, you know, it's 882 00:44:59,040 --> 00:45:01,200 Travis Wright: like from horse and buggy to the car to the 883 00:45:01,200 --> 00:45:04,410 Travis Wright: airplane to good Lord, here we are with a I 884 00:45:04,440 --> 00:45:08,640 Travis Wright: within a hundred years of civilization. And the last one actually, 885 00:45:08,640 --> 00:45:11,310 Travis Wright: probably from maybe from the year 1900 to now maybe 886 00:45:11,310 --> 00:45:16,590 Travis Wright: 125 years. The growth of humanity, it's almost like something 887 00:45:16,590 --> 00:45:21,589 Travis Wright: has unlocked within us creative wise, and it's just exploded. 888 00:45:21,600 --> 00:45:24,110 Travis Wright: And it seems to me that these next 7 to 889 00:45:24,110 --> 00:45:26,760 Travis Wright: 10 years, we're going to see more change than we've 890 00:45:26,760 --> 00:45:29,190 Travis Wright: seen in a long time. As I get smarter and 891 00:45:29,190 --> 00:45:32,250 Travis Wright: some of this technology gets going. And so, you know, 892 00:45:32,250 --> 00:45:35,250 Travis Wright: it is always interesting if you can see what's going 893 00:45:35,250 --> 00:45:37,650 Travis Wright: on in some places around the world, like what the 894 00:45:37,650 --> 00:45:40,859 Travis Wright: weak our population in China with the Panopticon and how there's, 895 00:45:41,130 --> 00:45:44,490 Travis Wright: you know, cameras everywhere and all this stuff, It's like, man, 896 00:45:44,489 --> 00:45:49,410 Travis Wright: just how do we work, do humanity's favor so we 897 00:45:49,410 --> 00:45:51,690 Travis Wright: don't get stuck in this dystopian thing, man. 898 00:45:51,840 --> 00:45:54,960 Teeka Tiwari: You said Panopticon. That's cool. I haven't that's. I haven't 899 00:45:54,960 --> 00:45:55,230 Teeka Tiwari: heard that. 900 00:45:55,230 --> 00:45:56,660 Joel Comm: It makes him sound real smart. 901 00:45:56,670 --> 00:45:59,190 Teeka Tiwari: It does. Explain to everybody what the panopticon of an. 902 00:45:59,190 --> 00:46:02,520 Travis Wright: Optical is, essentially a prison that you don't really realize. 903 00:46:02,520 --> 00:46:04,370 Travis Wright: You're in a prison where there's cameras everywhere. 904 00:46:04,469 --> 00:46:05,670 Joel Comm: The Matrix, are you? 905 00:46:05,670 --> 00:46:09,060 Travis Wright: It's well, it's a it's the Panopticon, in its truest sense, 906 00:46:09,060 --> 00:46:12,750 Travis Wright: is like a central tower that can watch everything. But 907 00:46:12,750 --> 00:46:14,770 Travis Wright: not everybody realizes that they're being watched. 908 00:46:14,790 --> 00:46:15,600 Joel Comm: Surveillance. 909 00:46:16,230 --> 00:46:19,750 Travis Wright: It's everywhere. The surveillance state on steroids is happening. 910 00:46:19,770 --> 00:46:22,950 Joel Comm: My, my, my new June oven is watching you right now. 911 00:46:22,950 --> 00:46:25,290 Travis Wright: It's true. Yeah, that's right. And it's general direction. I 912 00:46:25,290 --> 00:46:26,609 Travis Wright: don't know if it's all that or not, but it's 913 00:46:26,610 --> 00:46:28,950 Travis Wright: probably going to make my bird my next meal. But 914 00:46:28,950 --> 00:46:31,649 Travis Wright: so it is interesting to watch at where we're heading 915 00:46:31,650 --> 00:46:33,630 Travis Wright: and it's like it's like that's where I'm kind of 916 00:46:33,630 --> 00:46:36,110 Travis Wright: like humanity. We got to wake up because things could 917 00:46:36,120 --> 00:46:38,009 Travis Wright: get crazy in here if we don't pay attention. 918 00:46:38,020 --> 00:46:40,830 Teeka Tiwari: So let's talk about what would you view as a 919 00:46:40,830 --> 00:46:41,820 Teeka Tiwari: crazy outcome? 920 00:46:42,360 --> 00:46:45,120 Travis Wright: What do I view as a crazy outcome? Well, you know, 921 00:46:45,120 --> 00:46:50,160 Travis Wright: just the tightening of of everything when governments well, now 922 00:46:50,160 --> 00:46:52,710 Travis Wright: we're already at a point, from my perspective, where elections 923 00:46:52,710 --> 00:46:56,220 Travis Wright: aren't trust, we can't trust elections because they're all using 924 00:46:56,219 --> 00:46:59,460 Travis Wright: these online software. And then and look how quickly they 925 00:46:59,460 --> 00:47:02,120 Travis Wright: shut down the world for COVID. You know, basically all 926 00:47:02,160 --> 00:47:03,570 Travis Wright: all they had to say was, hey, we need to 927 00:47:03,570 --> 00:47:05,100 Travis Wright: shut down for a couple of weeks and the whole 928 00:47:05,100 --> 00:47:08,130 Travis Wright: world was essentially shut down. What happens when that next 929 00:47:08,130 --> 00:47:10,500 Travis Wright: one gets released? How much more they tighten? And what 930 00:47:10,500 --> 00:47:12,089 Travis Wright: it seems to me is like they always take two 931 00:47:12,090 --> 00:47:14,819 Travis Wright: or three steps forward. They wait for the resistance and 932 00:47:14,820 --> 00:47:16,680 Travis Wright: then they take a step back and just kind of wait. 933 00:47:16,680 --> 00:47:19,170 Joel Comm: And you're such a conspiracy realist. 934 00:47:19,560 --> 00:47:22,140 Teeka Tiwari: But let's talk about. I hear you. Yeah, but let's 935 00:47:22,140 --> 00:47:26,730 Teeka Tiwari: talk about how it directly affects your ability to live 936 00:47:26,730 --> 00:47:28,529 Teeka Tiwari: your life the way that you want to live. 937 00:47:28,650 --> 00:47:30,629 Joel Comm: Well, we we couldn't go outside or. 938 00:47:30,960 --> 00:47:33,570 Teeka Tiwari: Outside or outside of a pandemic, which is that's been 939 00:47:33,570 --> 00:47:36,150 Teeka Tiwari: a once in a century kind of deal maybe. Right. 940 00:47:36,480 --> 00:47:38,190 Teeka Tiwari: We'll see. You can call me. 941 00:47:38,190 --> 00:47:41,190 Joel Comm: But they pulled it off Once they masked us, once 942 00:47:41,190 --> 00:47:44,490 Joel Comm: they got millions of people jabbed. And now a lot 943 00:47:44,489 --> 00:47:48,300 Joel Comm: of people are regretting having done so. And they collapse 944 00:47:48,300 --> 00:47:52,440 Joel Comm: the economy. They killed businesses and they're like, huh, Well, 945 00:47:52,440 --> 00:47:54,370 Joel Comm: if we could do that, what else? Can we do? Right. 946 00:47:54,870 --> 00:47:58,620 Teeka Tiwari: Right. But they also flooded the world with liquidity. And again, 947 00:47:58,620 --> 00:48:01,320 Teeka Tiwari: if you were nimble enough, there was an opportunity there 948 00:48:01,320 --> 00:48:04,830 Teeka Tiwari: to make enormous sums of money. My, my my point is, 949 00:48:05,040 --> 00:48:07,049 Teeka Tiwari: is that you're what it appears to me is that 950 00:48:07,050 --> 00:48:12,090 Teeka Tiwari: you're personalizing something that isn't personal. The machinations of government 951 00:48:12,120 --> 00:48:16,770 Teeka Tiwari: wanting to exert more control are as old as Roman times. Heck, 952 00:48:16,770 --> 00:48:21,870 Teeka Tiwari: even Greek times for thousands of years. Governments, rulers, barons, 953 00:48:22,650 --> 00:48:26,520 Teeka Tiwari: you name it. Kings, queens. We've never always have, always 954 00:48:26,520 --> 00:48:29,730 Teeka Tiwari: tried to take control. You're right. Yeah, but. But there's 955 00:48:29,730 --> 00:48:32,850 Teeka Tiwari: also a double edged sword with this technology. They're sucking 956 00:48:32,850 --> 00:48:36,600 Teeka Tiwari: in so much information. They have information overload. What are 957 00:48:36,600 --> 00:48:38,310 Teeka Tiwari: they going to do? You're telling me there's some guy 958 00:48:38,310 --> 00:48:40,620 Teeka Tiwari: sitting there that's like, Oh, I know Travis is cheating 959 00:48:40,620 --> 00:48:42,390 Teeka Tiwari: on his taxes and I'm going to catch him with 960 00:48:42,390 --> 00:48:48,150 Teeka Tiwari: my with my little radar that I have with my A.I.. Wow. No, no. 961 00:48:48,270 --> 00:48:50,070 Teeka Tiwari: They're going to go after Bezos. They're going to go 962 00:48:50,070 --> 00:48:53,100 Teeka Tiwari: after Warren Buffett. They're going to go after these big, big. 963 00:48:53,230 --> 00:48:55,359 Travis Wright: They're going to go after the $600 Venmo. 964 00:48:55,739 --> 00:48:57,210 Teeka Tiwari: You know what I mean? That was just that was 965 00:48:57,210 --> 00:49:00,510 Teeka Tiwari: the stupidest thing. It's like some guy sells his sells 966 00:49:00,510 --> 00:49:03,569 Teeka Tiwari: his trading cards and you're going to I thank God 967 00:49:03,570 --> 00:49:05,339 Teeka Tiwari: they strip that out. I mean, they say they're going 968 00:49:05,340 --> 00:49:06,720 Teeka Tiwari: to bring it back. But I think that's one of 969 00:49:06,719 --> 00:49:07,590 Teeka Tiwari: the dumbest. 970 00:49:08,860 --> 00:49:09,120 Joel Comm: Things. 971 00:49:09,120 --> 00:49:11,760 Teeka Tiwari: That they can do in such a time. Suck of 972 00:49:11,760 --> 00:49:14,190 Teeka Tiwari: of government resources. You're going to chase people down for 973 00:49:14,190 --> 00:49:16,980 Teeka Tiwari: $600 with the, you know, trading card revenue. It's nuts. 974 00:49:17,010 --> 00:49:18,750 Joel Comm: I think perhaps you should be clear that you do 975 00:49:18,750 --> 00:49:21,549 Joel Comm: not cheat on your taxes because he just asserted that. 976 00:49:21,570 --> 00:49:24,480 Travis Wright: You might like that. That's not cool. Throw me under 977 00:49:24,480 --> 00:49:26,339 Travis Wright: the bus. No, but I'm so I mean, if I 978 00:49:26,340 --> 00:49:28,350 Travis Wright: look at it, I'm like, you know what? When I 979 00:49:28,350 --> 00:49:30,750 Travis Wright: don't pay attention to the media or because I don't 980 00:49:30,750 --> 00:49:32,700 Travis Wright: pay attention to mainstream media, but when I watch the 981 00:49:32,700 --> 00:49:34,590 Travis Wright: doom and gloom, you can see it's like, Oh, sure, 982 00:49:34,600 --> 00:49:35,160 Travis Wright: this is great. 983 00:49:35,430 --> 00:49:39,500 Teeka Tiwari: But it's infecting your current state of mind. You know, 984 00:49:39,520 --> 00:49:41,730 Teeka Tiwari: let me ask you, do you have food in your fridge? 985 00:49:41,730 --> 00:49:42,150 Teeka Tiwari: For sure. 986 00:49:42,600 --> 00:49:44,370 Travis Wright: It look like I have for you. 987 00:49:44,870 --> 00:49:46,890 Teeka Tiwari: Are your bills paid? Yeah. Do you have people that 988 00:49:46,890 --> 00:49:49,510 Teeka Tiwari: love you? For sure. Do you enjoy your life and 989 00:49:49,560 --> 00:49:50,280 Teeka Tiwari: live your life? 990 00:49:50,489 --> 00:49:52,590 Travis Wright: Well, that's how I do. And that is. That's the case. 991 00:49:52,590 --> 00:49:54,120 Travis Wright: And that's what I talk about. But I can kind 992 00:49:54,120 --> 00:49:57,420 Travis Wright: of see it's like it's that sort of the cavalier 993 00:49:57,420 --> 00:49:59,489 Travis Wright: thing that kind of makes people go all right as 994 00:49:59,489 --> 00:50:02,820 Travis Wright: they slowly inch towards the shitty ness for us all. 995 00:50:03,030 --> 00:50:04,980 Travis Wright: And so if I look at it, I mean, I 996 00:50:04,980 --> 00:50:07,980 Travis Wright: want to be optimistic. I think that humanity on its 997 00:50:07,980 --> 00:50:10,950 Travis Wright: core is really positive. Yeah, but. 998 00:50:10,950 --> 00:50:14,430 Teeka Tiwari: You're carrying a homing device that listens to everything you say, 999 00:50:14,700 --> 00:50:15,990 Teeka Tiwari: that tracks everything you. 1000 00:50:15,989 --> 00:50:18,450 Travis Wright: Do in sacred geometry. Track the tracks, the. 1001 00:50:18,460 --> 00:50:21,209 Teeka Tiwari: Tracks everywhere you go. And you tell me you care 1002 00:50:21,210 --> 00:50:24,690 Teeka Tiwari: about your freedom. Mm hmm. Put this in the goddamn 1003 00:50:24,690 --> 00:50:27,070 Teeka Tiwari: garbage If you care about your freedom. Carry a flip phone. 1004 00:50:27,090 --> 00:50:27,989 Joel Comm: Yeah, dude. 1005 00:50:28,050 --> 00:50:28,890 Travis Wright: A Faraday cage. 1006 00:50:29,190 --> 00:50:30,680 Joel Comm: Yeah. Yeah. 1007 00:50:31,140 --> 00:50:32,760 Travis Wright: I got it. But, you know, you can see how, 1008 00:50:33,030 --> 00:50:35,520 Travis Wright: you know, even people who are going to protest and stuff, 1009 00:50:35,520 --> 00:50:37,460 Travis Wright: they're like, Oh, well, they protested. We pinged their phone. 1010 00:50:37,469 --> 00:50:39,450 Travis Wright: We saw who they are. Boom. Now they're gone. They haven't. 1011 00:50:39,750 --> 00:50:41,009 Travis Wright: You don't see them anymore. Yeah. 1012 00:50:41,190 --> 00:50:45,450 Teeka Tiwari: Don't again. If. If that bothers you. Yeah. Don't have 1013 00:50:45,450 --> 00:50:47,700 Teeka Tiwari: a phone. Opt out of having a phone. You can 1014 00:50:47,700 --> 00:50:49,800 Teeka Tiwari: live your life without a phone. It might feel like 1015 00:50:49,800 --> 00:50:50,790 Teeka Tiwari: you can't. But you. 1016 00:50:51,030 --> 00:50:54,420 Joel Comm: We did before. We did before a tweet. 1017 00:50:54,790 --> 00:50:55,239 Teeka Tiwari: Yeah. 1018 00:50:55,920 --> 00:50:56,670 Joel Comm: With your mind. 1019 00:50:57,060 --> 00:50:59,549 Travis Wright: Pretty instant to the chip. 1020 00:50:59,550 --> 00:51:01,080 Joel Comm: They're going to chip you and you'll be able to 1021 00:51:01,080 --> 00:51:04,200 Joel Comm: tweet with your mind. Done. This is why a lot 1022 00:51:04,200 --> 00:51:06,900 Joel Comm: of people, you know, So we just got our second. 1023 00:51:07,090 --> 00:51:10,170 Joel Comm: Not not Travis and me. We myself and my partner, 1024 00:51:10,170 --> 00:51:13,770 Joel Comm: we just got our second citizenships in another country and 1025 00:51:13,770 --> 00:51:17,400 Joel Comm: another passport. And I'm a big believer in having a 1026 00:51:17,400 --> 00:51:21,420 Joel Comm: plan B that is taking control of your life and going, 1027 00:51:21,420 --> 00:51:25,110 Joel Comm: what if things go to hell in a handbasket? What 1028 00:51:25,110 --> 00:51:25,609 Joel Comm: can I do? 1029 00:51:25,620 --> 00:51:27,360 Teeka Tiwari: You still haven't told me yet what hell in a 1030 00:51:27,360 --> 00:51:29,400 Teeka Tiwari: handbasket means. I need you to be specific. 1031 00:51:29,460 --> 00:51:32,129 Joel Comm: A dystopian hellscape. Dystopian hellscape. 1032 00:51:32,200 --> 00:51:35,520 Teeka Tiwari: What outcome is it that you would say? All right, 1033 00:51:35,730 --> 00:51:38,370 Teeka Tiwari: I'm out. I'm like, I know what the outcome is 1034 00:51:38,370 --> 00:51:40,080 Teeka Tiwari: for me and I'll tell you, but I want you 1035 00:51:40,080 --> 00:51:40,980 Teeka Tiwari: guys to tell me what. 1036 00:51:41,040 --> 00:51:42,719 Travis Wright: I would say. You think of the Great Reset. You're 1037 00:51:42,719 --> 00:51:45,000 Travis Wright: going to own nothing and you'll be happy. It bugs 1038 00:51:45,750 --> 00:51:48,000 Travis Wright: the World Economic Forum and how they're saying, Oh yeah, 1039 00:51:48,000 --> 00:51:49,440 Travis Wright: we're going to do away with me. You're going to 1040 00:51:49,440 --> 00:51:52,470 Travis Wright: be eating bug protein powder and you got it. And 1041 00:51:52,469 --> 00:51:55,529 Travis Wright: then we don't even know we don't even know the 1042 00:51:55,530 --> 00:51:59,489 Travis Wright: consequences of all these 60% of the world population taking 1043 00:51:59,489 --> 00:52:00,000 Travis Wright: this vaccine. 1044 00:52:00,330 --> 00:52:00,660 Teeka Tiwari: Okay. 1045 00:52:00,810 --> 00:52:01,860 Travis Wright: There's a lot of crazy shit going on. 1046 00:52:02,070 --> 00:52:04,680 Teeka Tiwari: And this is my third time asking you this question. 1047 00:52:04,950 --> 00:52:07,839 Teeka Tiwari: What is the specific set of circumstances? 1048 00:52:07,900 --> 00:52:10,830 Travis Wright: I think that I think the global economy crashes. They 1049 00:52:10,830 --> 00:52:14,940 Travis Wright: bring in a digital cbdc of some sort. 30 to 40% 1050 00:52:14,940 --> 00:52:19,110 Travis Wright: of the population dies because these strange medical coincidences and 1051 00:52:19,110 --> 00:52:21,779 Travis Wright: it just and then slowly they're going to go, oh, look, see, 1052 00:52:22,230 --> 00:52:24,270 Travis Wright: it's a new cause. This is causing all of us. 1053 00:52:24,270 --> 00:52:26,520 Travis Wright: And so then, you know, if you look at what 1054 00:52:26,520 --> 00:52:29,219 Travis Wright: Orwell said, it's my view as sort of an Orwell 1055 00:52:29,219 --> 00:52:32,250 Travis Wright: and Aldous Huxley hybrid. It's not so much one or 1056 00:52:32,250 --> 00:52:33,930 Travis Wright: the other. It's kind of a little bit of both. 1057 00:52:33,930 --> 00:52:36,180 Travis Wright: It's like a brave new world. There's going to be 1058 00:52:36,239 --> 00:52:38,759 Travis Wright: sort of quarantined areas that you can't go in. You're 1059 00:52:38,760 --> 00:52:40,770 Travis Wright: not approved to go in. If we're looking at ten 1060 00:52:40,770 --> 00:52:43,319 Travis Wright: or 15 years down the road going on and they 1061 00:52:43,320 --> 00:52:46,770 Travis Wright: keep they keep releasing these viruses or whatever's going on, 1062 00:52:46,770 --> 00:52:48,900 Travis Wright: and now you got to take the new vaccines. It's 1063 00:52:48,900 --> 00:52:51,480 Travis Wright: going to create a group of people that are very, 1064 00:52:51,480 --> 00:52:55,290 Travis Wright: very unhealthy because their immune systems are destroyed. I'm not 1065 00:52:55,290 --> 00:52:56,880 Travis Wright: taking those because I'm I'm not. 1066 00:52:57,070 --> 00:52:59,550 Joel Comm: So I think I think where it where it would 1067 00:52:59,550 --> 00:53:03,480 Joel Comm: cross the line, where it would say you must take 1068 00:53:03,480 --> 00:53:06,719 Joel Comm: this medical procedure whether you want to or not. 1069 00:53:06,900 --> 00:53:10,680 Travis Wright: You don't have this passport, this vaccine passport. You can't 1070 00:53:10,680 --> 00:53:12,839 Travis Wright: go and people can't come to America unless they have 1071 00:53:12,840 --> 00:53:13,800 Travis Wright: the vaccine. Our systems. 1072 00:53:13,800 --> 00:53:14,430 Joel Comm: Are still. 1073 00:53:14,820 --> 00:53:16,920 Travis Wright: Going on. It's just a matter of how we focus 1074 00:53:16,920 --> 00:53:17,250 Travis Wright: on him. 1075 00:53:17,969 --> 00:53:20,340 Joel Comm: He has something in his head, though, that. Go ahead. 1076 00:53:20,340 --> 00:53:21,000 Joel Comm: What is yours? 1077 00:53:21,300 --> 00:53:26,489 Teeka Tiwari: No, for me, it's it's a confiscation of wealth, loss 1078 00:53:26,489 --> 00:53:30,540 Teeka Tiwari: of property rights, insane taxation. Right. You know, those are 1079 00:53:30,540 --> 00:53:33,390 Teeka Tiwari: the things I would say. Okay, those are my red lines. 1080 00:53:33,780 --> 00:53:38,910 Teeka Tiwari: I'm out the type of hellscape that you are describing. 1081 00:53:40,280 --> 00:53:44,300 Teeka Tiwari: Let's say that I was a professional bookie, man. I 1082 00:53:44,300 --> 00:53:45,589 Teeka Tiwari: would those odds of. 1083 00:53:45,590 --> 00:53:47,750 Joel Comm: Well, look at China, though. I mean, they've got the 1084 00:53:47,750 --> 00:53:49,839 Joel Comm: social credit system now that there is if. 1085 00:53:50,210 --> 00:53:52,610 Teeka Tiwari: He's talking about 40% of the people dying. 1086 00:53:52,950 --> 00:53:56,210 Joel Comm: Well. Well, Travis has a flair for the dramatic frame. 1087 00:53:56,250 --> 00:54:00,680 Travis Wright: Yeah, well, I mean, the the statistics are ramping up pretty. 1088 00:54:00,800 --> 00:54:02,810 Travis Wright: I hope that's not the case. I hope that I'm wrong. 1089 00:54:02,810 --> 00:54:04,219 Joel Comm: Right. Because people we know. 1090 00:54:04,310 --> 00:54:05,420 Travis Wright: People we know. 1091 00:54:05,440 --> 00:54:06,170 Teeka Tiwari: Are. 1092 00:54:06,290 --> 00:54:09,080 Travis Wright: Have a very bad situation through these medical coincidences. 1093 00:54:09,110 --> 00:54:10,489 Teeka Tiwari: I feel like I have to be kind of a 1094 00:54:10,489 --> 00:54:12,890 Teeka Tiwari: voice of reason here and say, friends. Those of you 1095 00:54:12,890 --> 00:54:14,090 Teeka Tiwari: that are listening right now. 1096 00:54:15,040 --> 00:54:17,100 Joel Comm: These guys are conspiracy theorists. 1097 00:54:17,290 --> 00:54:21,669 Teeka Tiwari: Take an extra dose of your blood pressure medication and say, 1098 00:54:22,030 --> 00:54:28,149 Teeka Tiwari: take a breath. And and so many things that that 1099 00:54:28,150 --> 00:54:32,950 Teeka Tiwari: mankind has obsessed over and been afraid of. They've just 1100 00:54:32,950 --> 00:54:36,339 Teeka Tiwari: robbed the joy of of daily life. At the end 1101 00:54:36,340 --> 00:54:38,799 Teeka Tiwari: of the day, we don't know how long we're going 1102 00:54:38,800 --> 00:54:41,109 Teeka Tiwari: to be on this earth, Right? We could die next week. 1103 00:54:41,110 --> 00:54:43,810 Teeka Tiwari: We die tomorrow. We could die in 50 years. But 1104 00:54:43,900 --> 00:54:48,100 Teeka Tiwari: all we have is this specific moment. So, friends, if 1105 00:54:48,100 --> 00:54:51,370 Teeka Tiwari: you find yourself wrapped up with these types of thoughts 1106 00:54:51,640 --> 00:54:54,100 Teeka Tiwari: and it is taking away from the joy that you're 1107 00:54:54,100 --> 00:54:57,850 Teeka Tiwari: experiencing in this moment, please stop, because there's nothing you 1108 00:54:57,850 --> 00:55:00,029 Teeka Tiwari: can do about it in this moment. And so. 1109 00:55:00,100 --> 00:55:02,260 Joel Comm: We moved to Puerto Rico, Miguel. 1110 00:55:02,260 --> 00:55:05,110 Teeka Tiwari: You know, hug a loved one, do something nice for 1111 00:55:05,110 --> 00:55:08,830 Teeka Tiwari: a friend. Go out for a walk and enjoy the 1112 00:55:08,830 --> 00:55:12,490 Teeka Tiwari: the reality that you're living in right now. Because, yes, 1113 00:55:12,489 --> 00:55:16,030 Teeka Tiwari: maybe you're right. Maybe the reality we're moving into is horrible. 1114 00:55:16,270 --> 00:55:21,009 Teeka Tiwari: But why put yourself in a situation where you are 1115 00:55:21,010 --> 00:55:24,590 Teeka Tiwari: living that reality now and living it in the future? 1116 00:55:24,620 --> 00:55:26,680 Travis Wright: Well, I'm saying this is because I'd like to find 1117 00:55:26,680 --> 00:55:29,080 Travis Wright: a solution so that doesn't happen. I don't want a 1118 00:55:29,080 --> 00:55:32,500 Travis Wright: lot of I don't want some of this dystopian technocracy 1119 00:55:32,500 --> 00:55:35,799 Travis Wright: to happen. This technocracy, you know, whatever. Technocracy. 1120 00:55:36,160 --> 00:55:37,000 Joel Comm: I like tech or not. 1121 00:55:37,000 --> 00:55:40,719 Travis Wright: Graffiti is a fun technology. No, it's if you piece 1122 00:55:40,719 --> 00:55:43,210 Travis Wright: it all together, I mean, and I think that that's 1123 00:55:43,210 --> 00:55:46,450 Travis Wright: part of that has has hurt me with wealth creation 1124 00:55:46,450 --> 00:55:48,970 Travis Wright: even in the past. Because once I realized about the 1125 00:55:48,969 --> 00:55:51,760 Travis Wright: Federal Reserve Bank, how it's not backed by anything and 1126 00:55:51,760 --> 00:55:53,950 Travis Wright: how they print money out of thin air, and it's like, well, 1127 00:55:53,950 --> 00:55:56,290 Travis Wright: the military says so and so, the government says, oh, 1128 00:55:56,290 --> 00:55:58,780 Travis Wright: it's the world reserve currency, so it's money. When I 1129 00:55:58,780 --> 00:56:01,390 Travis Wright: realized that it wasn't money back in 2000, I was like, 1130 00:56:01,390 --> 00:56:03,069 Travis Wright: Oh my God, this is not even money. It's like, 1131 00:56:03,310 --> 00:56:05,710 Travis Wright: So I missed out on some of those tech booms. 1132 00:56:05,800 --> 00:56:07,540 Travis Wright: I knew Amazon was going to be great, but I 1133 00:56:07,540 --> 00:56:09,879 Travis Wright: was like, When's this going to. What's going on? So 1134 00:56:09,880 --> 00:56:12,190 Travis Wright: I know that some of that has impacted me. I 1135 00:56:12,190 --> 00:56:14,140 Travis Wright: looked at Apple, I bought some Apple stock, but then 1136 00:56:14,140 --> 00:56:16,719 Travis Wright: I'm looking at it going, Man, Yeah. So when Bitcoin 1137 00:56:16,719 --> 00:56:19,270 Travis Wright: came around, that's when I was like, Oh, look at this. 1138 00:56:19,270 --> 00:56:23,860 Travis Wright: It's outside of government creation potentially. Maybe the NSA did it. 1139 00:56:23,870 --> 00:56:26,980 Travis Wright: I don't know. Nobody really knows who Satoshi is, but 1140 00:56:27,190 --> 00:56:30,430 Travis Wright: it was that mechanism that's deflationary in nature. That's why 1141 00:56:30,430 --> 00:56:32,950 Travis Wright: I like cryptocurrency. That's why I like Bitcoin, because it 1142 00:56:32,950 --> 00:56:36,850 Travis Wright: takes the state element of control out of it in theory, 1143 00:56:37,090 --> 00:56:40,390 Travis Wright: which makes everything a little better. And so, you know, 1144 00:56:40,390 --> 00:56:42,630 Travis Wright: here we are, as you mentioned, we are in Puerto Rico. 1145 00:56:42,640 --> 00:56:45,340 Travis Wright: It's it's the world is not doesn't look like the 1146 00:56:45,340 --> 00:56:47,799 Travis Wright: sky is falling when you go outside. But I do 1147 00:56:47,800 --> 00:56:49,330 Travis Wright: know that I've seen a lot of friends that have 1148 00:56:49,330 --> 00:56:52,570 Travis Wright: passed away from medical coincidences right now, even though I said, hey, 1149 00:56:52,570 --> 00:56:55,989 Travis Wright: you might not I don't take be one of any technology, Right. 1150 00:56:55,989 --> 00:56:57,490 Travis Wright: I'm not going to go out and get V one 1151 00:56:57,489 --> 00:56:59,120 Travis Wright: of neuro link and connect my brain. 1152 00:56:59,320 --> 00:57:02,230 Joel Comm: I did buy the first iPhone, to be fair. Yeah, 1153 00:57:02,350 --> 00:57:05,770 Joel Comm: I did. But that's I'm a I'm a pioneer. You know, 1154 00:57:05,770 --> 00:57:09,250 Joel Comm: you mentioned bitcoin. Let's let's wrap with Bitcoin, okay? Because 1155 00:57:09,250 --> 00:57:12,910 Joel Comm: you guys are doing your analysis and you're looking at 1156 00:57:12,910 --> 00:57:15,650 Joel Comm: what's happening now, but you're also looking towards the future. 1157 00:57:15,670 --> 00:57:19,480 Joel Comm: A bull run is going to happen. Probably not this year. 1158 00:57:19,960 --> 00:57:21,910 Joel Comm: Maybe next year we start to see the beginning of 1159 00:57:21,910 --> 00:57:26,980 Joel Comm: it into the having into 2020 for two questions. One, 1160 00:57:26,980 --> 00:57:30,460 Joel Comm: do you think the governments of the world can, if 1161 00:57:30,460 --> 00:57:35,110 Joel Comm: they decide to stop Bitcoin? I have my own thoughts 1162 00:57:35,110 --> 00:57:36,250 Joel Comm: in that, but I want to know what you think 1163 00:57:36,250 --> 00:57:40,840 Joel Comm: and to where do you think we'll see a high 1164 00:57:40,840 --> 00:57:42,340 Joel Comm: on this next bull run? 1165 00:57:43,150 --> 00:57:47,530 Teeka Tiwari: Okay, Governments can slow down Bitcoin adoption and they're already 1166 00:57:47,530 --> 00:57:52,210 Teeka Tiwari: doing that and have done that. They cannot stop bitcoin. 1167 00:57:53,470 --> 00:57:58,750 Teeka Tiwari: So that's the answer to that question. Unstoppable in terms 1168 00:57:58,750 --> 00:58:02,710 Teeka Tiwari: of where Bitcoin will go on the next run. I, 1169 00:58:03,040 --> 00:58:06,580 Teeka Tiwari: I struggle with that because I was one of those 1170 00:58:06,580 --> 00:58:10,270 Teeka Tiwari: people that thought that we crack one case on Bitcoin 1171 00:58:10,270 --> 00:58:14,979 Teeka Tiwari: and was shocked, really, really shocked that we didn't commit. 1172 00:58:14,980 --> 00:58:17,110 Joel Comm: To it didn't match the previous cycles. 1173 00:58:17,140 --> 00:58:20,530 Teeka Tiwari: No, not at all. Not at all. And and the 1174 00:58:20,530 --> 00:58:24,220 Teeka Tiwari: only thing I can think that was different was you 1175 00:58:24,220 --> 00:58:27,190 Teeka Tiwari: had interest rates rising. So I. 1176 00:58:27,190 --> 00:58:29,950 Travis Wright: Agree. CME In the futures, does that impact? 1177 00:58:30,250 --> 00:58:32,860 Teeka Tiwari: I don't think so, because the spot market is so 1178 00:58:32,860 --> 00:58:36,370 Teeka Tiwari: much bigger than than the futures market trading in the future. 1179 00:58:37,180 --> 00:58:39,610 Teeka Tiwari: You know several years in the future, CME trading will 1180 00:58:39,610 --> 00:58:42,130 Teeka Tiwari: probably be much bigger than spot trading. But that's that's 1181 00:58:42,130 --> 00:58:43,960 Teeka Tiwari: quite a ways out, quite a ways away. 1182 00:58:44,440 --> 00:58:47,590 Travis Wright: It was perplexing because it did the 63 or 64 1183 00:58:47,730 --> 00:58:50,110 Travis Wright: and then it went down and then oh, then it 1184 00:58:50,110 --> 00:58:52,900 Travis Wright: was going back. I was like, whoa, it passed 60. Oh, man, 1185 00:58:52,900 --> 00:58:55,300 Travis Wright: we are. But I kind of thought that was the 1186 00:58:55,300 --> 00:58:57,520 Travis Wright: tip when it was the 63, 64. And then we 1187 00:58:57,520 --> 00:58:59,290 Travis Wright: saw it go above that and I was like, Oh, 1188 00:58:59,460 --> 00:59:02,050 Travis Wright: but I'm not financial advice. But it's like, I saw that. 1189 00:59:02,050 --> 00:59:02,260 Travis Wright: I was like. 1190 00:59:03,160 --> 00:59:04,810 Joel Comm: All right, so let's what's the prediction? 1191 00:59:04,900 --> 00:59:09,400 Teeka Tiwari: Yeah, I think we break six figures. I, I, I'm 1192 00:59:09,400 --> 00:59:12,730 Teeka Tiwari: at this point I'm not comfortable giving a target for 1193 00:59:12,730 --> 00:59:15,370 Teeka Tiwari: the next cycle. But yes, I believe. We will break 1194 00:59:15,370 --> 00:59:18,320 Teeka Tiwari: the old high and break above that six figure mark. 1195 00:59:18,340 --> 00:59:21,939 Joel Comm: So 100,000 minimum. What you're looking at from here, that's 1196 00:59:21,940 --> 00:59:24,870 Joel Comm: like what, a6x? Yeah. From where we are right now. 1197 00:59:24,880 --> 00:59:28,420 Joel Comm: So if you are indeed dollar cost averaging on bitcoin 1198 00:59:28,780 --> 00:59:32,780 Joel Comm: right now, two years is what we'd be looking at. Yes. 1199 00:59:32,800 --> 00:59:34,900 Joel Comm: I mean, if anybody could tell you in two years 1200 00:59:34,900 --> 00:59:37,660 Joel Comm: you're going to six extra money, It's ridiculous. Nobody would 1201 00:59:37,660 --> 00:59:41,610 Joel Comm: have believed that before except some far fetched scheme. Yeah. 1202 00:59:41,650 --> 00:59:43,780 Travis Wright: So what do you think about this time? Because, you know, 1203 00:59:44,050 --> 00:59:46,900 Travis Wright: every time that it halves, there's less Bitcoin that's being 1204 00:59:46,900 --> 00:59:49,270 Travis Wright: created right now. We're going to see it's going to 1205 00:59:49,270 --> 00:59:51,280 Travis Wright: start getting to the point, it seems to me like, oh, 1206 00:59:51,490 --> 00:59:53,530 Travis Wright: now we're going from this amount to this amount. There's 1207 00:59:53,530 --> 00:59:57,010 Travis Wright: only only a few bitcoins created every 10 minutes. Oh, no, 1208 00:59:57,160 --> 01:00:00,010 Travis Wright: half of that. So, you know, 19 point how many 1209 01:00:00,010 --> 01:00:02,590 Travis Wright: like 19.5 or so? There's only a million and a 1210 01:00:02,590 --> 01:00:06,490 Travis Wright: half bitcoin left to be mined. Does that impact the 1211 01:00:06,520 --> 01:00:09,190 Travis Wright: future ongoing price of Bitcoin in the future? Because there's 1212 01:00:09,190 --> 01:00:11,410 Travis Wright: not as many new ones being created. 1213 01:00:11,620 --> 01:00:16,210 Teeka Tiwari: Yeah, it does, because the demand picture for bitcoin increases 1214 01:00:16,210 --> 01:00:19,480 Teeka Tiwari: over time. If you look at the amount of external 1215 01:00:19,480 --> 01:00:22,450 Teeka Tiwari: demand for bitcoin from ten years ago, which was nothing 1216 01:00:22,810 --> 01:00:25,419 Teeka Tiwari: to then two years beyond that, and then two years 1217 01:00:25,420 --> 01:00:29,050 Teeka Tiwari: and two years and two years, it rises exponentially. And 1218 01:00:29,050 --> 01:00:33,160 Teeka Tiwari: if you look at excuse me, if you look at 1219 01:00:33,160 --> 01:00:36,070 Teeka Tiwari: what the source of new Bitcoin demand is going to 1220 01:00:36,070 --> 01:00:38,290 Teeka Tiwari: come from, a lot of it is going to be 1221 01:00:38,290 --> 01:00:41,740 Teeka Tiwari: driven from Wall Street. If you look at Fidelity adding 1222 01:00:41,740 --> 01:00:46,900 Teeka Tiwari: crypto to 40 million of their retirement accounts. Bitcoin is 1223 01:00:46,900 --> 01:00:50,800 Teeka Tiwari: going to become a core holding in the IRA slash 1224 01:00:50,800 --> 01:00:54,010 Teeka Tiwari: retirement space. That is going to be a massive sink 1225 01:00:54,220 --> 01:00:57,250 Teeka Tiwari: for Bitcoin demand. And then you're going to also have 1226 01:00:57,250 --> 01:01:01,000 Teeka Tiwari: products that will offer Bitcoin as part of a an 1227 01:01:01,000 --> 01:01:04,510 Teeka Tiwari: inducement to actually use the product, whether it's credit cards 1228 01:01:04,510 --> 01:01:08,110 Teeka Tiwari: or other types of products that that, you know, haven't 1229 01:01:08,110 --> 01:01:11,770 Teeka Tiwari: even been invented yet. So so the use case for 1230 01:01:11,800 --> 01:01:16,060 Teeka Tiwari: Bitcoin will increase at a rate that we haven't seen 1231 01:01:16,060 --> 01:01:19,990 Teeka Tiwari: before and it will increase around use cases that we 1232 01:01:19,990 --> 01:01:23,890 Teeka Tiwari: haven't seen before that are very, very difficult to proper size. 1233 01:01:24,030 --> 01:01:28,000 Teeka Tiwari: So if you think about bandwidth for the Internet, when 1234 01:01:28,000 --> 01:01:32,020 Teeka Tiwari: when bandwidth was being built out in 1999 and 2000, 1235 01:01:32,500 --> 01:01:34,690 Teeka Tiwari: a lot of these companies that were creating that bandwidth 1236 01:01:34,690 --> 01:01:37,870 Teeka Tiwari: were going out of business because institutions were saying, who 1237 01:01:37,870 --> 01:01:41,160 Teeka Tiwari: is ever going to need high speed Internet? That's ridiculous. 1238 01:01:41,170 --> 01:01:44,120 Teeka Tiwari: We got 50 4k Internet. That's fine. What do we do? 1239 01:01:44,140 --> 01:01:47,260 Teeka Tiwari: Why do we need 100 megs? And of course, you know, 1240 01:01:47,260 --> 01:01:50,290 Teeka Tiwari: you can't think and you can't see the future. I 1241 01:01:50,290 --> 01:01:52,690 Teeka Tiwari: can only see the future so far. And the future 1242 01:01:52,690 --> 01:01:56,230 Teeka Tiwari: moves exponentially, especially when it comes to tech. And so 1243 01:01:56,230 --> 01:02:00,350 Teeka Tiwari: the same, I believe, is true for the adoption of 1244 01:02:00,460 --> 01:02:03,700 Teeka Tiwari: Bitcoin and the different use cases for Bitcoin. 1245 01:02:04,000 --> 01:02:06,040 Travis Wright: What what about this? Because this is one thing that's 1246 01:02:06,040 --> 01:02:08,680 Travis Wright: always been interesting to me is that, you know, with 1247 01:02:08,680 --> 01:02:11,890 Travis Wright: gold and silver you can have paper, gold and silver 1248 01:02:11,890 --> 01:02:14,920 Travis Wright: and it looks like 500 times more gold than there 1249 01:02:14,920 --> 01:02:18,730 Travis Wright: is actual gold or 250 times more silver. Whatever the numbers, 1250 01:02:18,800 --> 01:02:21,260 Travis Wright: they might be flipped. I don't remember which ones, which what. 1251 01:02:21,460 --> 01:02:24,550 Travis Wright: And then we heard FCX was basically selling people Bitcoin 1252 01:02:24,550 --> 01:02:27,280 Travis Wright: and they weren't actually selling them Bitcoin. That's like what's 1253 01:02:27,280 --> 01:02:30,190 Travis Wright: going to stop. I know fidelity and they're all sort 1254 01:02:30,190 --> 01:02:32,560 Travis Wright: of they're all insured and whatever. But what's going to 1255 01:02:32,560 --> 01:02:35,740 Travis Wright: stop paper Bitcoin from being sold to some of these 1256 01:02:35,740 --> 01:02:38,440 Travis Wright: people and they're not and they're keeping them on the, 1257 01:02:38,660 --> 01:02:43,360 Travis Wright: the institutional exchanges and they're not managing their own coins 1258 01:02:43,360 --> 01:02:46,030 Travis Wright: and they have. Is that something that that we should 1259 01:02:46,030 --> 01:02:46,450 Travis Wright: think about? 1260 01:02:46,990 --> 01:02:48,790 Teeka Tiwari: You should, but you don't need to think about it 1261 01:02:48,790 --> 01:02:51,970 Teeka Tiwari: right now. That's a problem for seven years from now. Okay. 1262 01:02:52,150 --> 01:02:53,050 Teeka Tiwari: But not now. 1263 01:02:54,430 --> 01:02:56,680 Joel Comm: Okay. I'm not going to worry about it today. I'm 1264 01:02:56,680 --> 01:02:59,540 Joel Comm: going to put it put a, you know, reminder on there. 1265 01:02:59,560 --> 01:03:01,180 Joel Comm: Seven years to set your alarm. 1266 01:03:01,270 --> 01:03:02,520 Travis Wright: Remind me to worry about the. 1267 01:03:02,530 --> 01:03:05,830 Joel Comm: Bitcoin you just set off. Everybody's. Oh, that's right. Now 1268 01:03:06,530 --> 01:03:08,980 Joel Comm: I take it to worry Palm Beach letter. What's the 1269 01:03:08,980 --> 01:03:10,330 Joel Comm: website for people do. 1270 01:03:15,910 --> 01:03:18,760 Teeka Tiwari: It's a Palm Beach group dot com that has all 1271 01:03:18,760 --> 01:03:20,470 Teeka Tiwari: the info on our firm and we have a free 1272 01:03:20,470 --> 01:03:22,990 Teeka Tiwari: newsletter and you can find out more about us at 1273 01:03:22,990 --> 01:03:24,400 Teeka Tiwari: Palm Beach group dot com. 1274 01:03:24,460 --> 01:03:26,740 Joel Comm: Awesome dude thanks for coming and hanging out with us today. 1275 01:03:26,800 --> 01:03:27,520 Joel Comm: Thanks for shared. 1276 01:03:27,520 --> 01:03:28,390 Teeka Tiwari: It. Thanks for having me. 1277 01:03:28,480 --> 01:03:30,940 Joel Comm: Yeah right. And you're going to I can we talk 1278 01:03:31,120 --> 01:03:34,270 Joel Comm: real briefly about your plan, your personal plans for the future? 1279 01:03:34,270 --> 01:03:36,190 Joel Comm: Do you want to share at all what you're doing? 1280 01:03:36,220 --> 01:03:38,530 Teeka Tiwari: Sure. Yeah. I'm actually going to be crossing the Atlantic soon. 1281 01:03:38,530 --> 01:03:41,290 Teeka Tiwari: In my own boat? Yeah. A 50 foot catamaran built. 1282 01:03:41,320 --> 01:03:43,690 Teeka Tiwari: I'm just a couple of weeks and will be flying 1283 01:03:43,690 --> 01:03:47,290 Teeka Tiwari: out to the Canary Islands, and we're taking the boat 1284 01:03:47,290 --> 01:03:50,200 Teeka Tiwari: across the Atlantic, and we're sailing right into the Caribbean. 1285 01:03:50,200 --> 01:03:52,360 Joel Comm: Your captain to worry me. 1286 01:03:52,750 --> 01:03:55,690 Travis Wright: Ahoy! I mean, how would you be finding gold? Well, 1287 01:03:55,690 --> 01:03:56,410 Travis Wright: maybe not. You know. 1288 01:03:56,680 --> 01:03:58,030 Teeka Tiwari: I can go, right? 1289 01:03:58,180 --> 01:03:59,200 Travis Wright: He'd be fine in Bitcoin. 1290 01:04:02,210 --> 01:04:05,710 Teeka Tiwari: Yeah. So definitely once in a lifetime deal and really 1291 01:04:05,710 --> 01:04:06,580 Teeka Tiwari: looking forward to it. 1292 01:04:06,610 --> 01:04:08,920 Travis Wright: You better get yourself a good captain, matey. 1293 01:04:10,070 --> 01:04:11,410 Teeka Tiwari: I have a wonderful captain. 1294 01:04:11,420 --> 01:04:11,860 Travis Wright: That's good. 1295 01:04:13,810 --> 01:04:15,940 Joel Comm: Well, there you go. Ticker. 1296 01:04:16,930 --> 01:04:19,270 Travis Wright: Rodney. I say Tiki because his last name ends in 1297 01:04:19,270 --> 01:04:21,340 Travis Wright: an eye. And so in my head, just shortening it. 1298 01:04:21,610 --> 01:04:24,490 Joel Comm: So here's what you don't know. He his parents are 1299 01:04:24,490 --> 01:04:28,870 Joel Comm: from South America, from Guyana, and that was a British colony, 1300 01:04:28,870 --> 01:04:33,340 Joel Comm: and they moved to England. So he was born and 1301 01:04:33,340 --> 01:04:37,270 Joel Comm: raised in England and didn't leave until he was 16 1302 01:04:37,360 --> 01:04:41,380 Joel Comm: years old. So he had a British accent. And I said, What? 1303 01:04:41,680 --> 01:04:43,950 Joel Comm: What happened to your British accent? He said, Wall Street 1304 01:04:43,980 --> 01:04:47,800 Joel Comm: knocked it out of me, like working on Wall Street. Usually, 1305 01:04:47,800 --> 01:04:50,770 Joel Comm: you know, people keep their accent. And if you listen closely, 1306 01:04:50,770 --> 01:04:54,100 Joel Comm: knowing that, you can go, okay, I hear little shades. 1307 01:04:54,220 --> 01:04:56,290 Travis Wright: You know, of that. I did notice it seemed a 1308 01:04:56,290 --> 01:04:58,900 Travis Wright: little like it felt South African. 1309 01:04:59,080 --> 01:05:01,990 Joel Comm: Yeah, but it knocked it out of them. Like Wall 1310 01:05:01,990 --> 01:05:04,750 Joel Comm: Street is like in New York, just completely. 1311 01:05:04,750 --> 01:05:09,640 Travis Wright: When everybody's walking around talking like this. Yeah, it's like. 1312 01:05:11,700 --> 01:05:13,750 Travis Wright: So go to work. You get no tea, you get 1313 01:05:13,750 --> 01:05:14,350 Travis Wright: no credit. 1314 01:05:14,770 --> 01:05:16,870 Joel Comm: Let us know what you guys would like to. You know, 1315 01:05:16,870 --> 01:05:20,980 Joel Comm: here on bad crypto this year, we're we're open to 1316 01:05:21,160 --> 01:05:23,950 Joel Comm: interviewing a lot of leaders in the space. I will 1317 01:05:23,950 --> 01:05:26,740 Joel Comm: say that our inbox is full of people that want 1318 01:05:26,740 --> 01:05:28,780 Joel Comm: to be on the show, but we're being way more 1319 01:05:28,780 --> 01:05:33,190 Joel Comm: selective in terms of who comes on the show because 1320 01:05:33,190 --> 01:05:35,919 Joel Comm: we have to be interested in the content in order 1321 01:05:35,920 --> 01:05:38,890 Joel Comm: for it to be interesting to you, for us to 1322 01:05:38,890 --> 01:05:41,800 Joel Comm: help make it interesting. And we don't want to pump 1323 01:05:41,800 --> 01:05:45,340 Joel Comm: content out just to put audio in your ears. We 1324 01:05:45,340 --> 01:05:46,250 Joel Comm: want it to be quality. 1325 01:05:46,250 --> 01:05:47,620 Travis Wright: We want a week, maybe two a week. 1326 01:05:48,160 --> 01:05:48,730 Joel Comm: Maybe ten a. 1327 01:05:48,730 --> 01:05:51,310 Travis Wright: Week, maybe zero a week. Yeah. The word you got 1328 01:05:51,310 --> 01:05:51,669 Travis Wright: for the last. 1329 01:05:51,670 --> 01:05:55,180 Joel Comm: You know what? Hit the subscribe button. And when there's 1330 01:05:55,180 --> 01:05:57,940 Joel Comm: a new episode, it's going to end up on your device. 1331 01:05:57,940 --> 01:05:59,830 Joel Comm: And then you'll be like, Oh, I know this is 1332 01:05:59,830 --> 01:06:03,940 Joel Comm: quality because it's here in my my ears. 1333 01:06:04,120 --> 01:06:09,310 Travis Wright: We made you some content. You they made you your favorite. 1334 01:06:09,310 --> 01:06:12,940 Travis Wright: Open up. Why? Here comes the content. 1335 01:06:13,420 --> 01:06:15,340 Joel Comm: Are you just making this up or is this. 1336 01:06:15,340 --> 01:06:19,090 Travis Wright: Part of That's Bo Burnham? Oh, right, right, right. 1337 01:06:19,090 --> 01:06:19,800 Joel Comm: I saw you. 1338 01:06:19,900 --> 01:06:21,730 Travis Wright: You watch it. Watch. It's like, okay, but then like 1339 01:06:21,730 --> 01:06:24,670 Travis Wright: you listed on Spotify haha, you watch it again. You're like, 1340 01:06:24,670 --> 01:06:27,220 Travis Wright: Oh my God, it's is so brilliant. It's so I 1341 01:06:27,220 --> 01:06:27,669 Travis Wright: love that guy. 1342 01:06:27,700 --> 01:06:30,730 Joel Comm: It it was really well done for those. You don't 1343 01:06:30,730 --> 01:06:34,060 Joel Comm: know what he's talking about. He did a Netflix special, 1344 01:06:34,270 --> 01:06:37,550 Joel Comm: Bo Burnham called Inside that he filmed in. 1345 01:06:37,590 --> 01:06:38,110 Travis Wright: One room. 1346 01:06:38,290 --> 01:06:42,880 Joel Comm: During COVID and it is very creative and it will 1347 01:06:42,880 --> 01:06:45,970 Joel Comm: make you feel a little bit claustrophobic. Like I'm walking 1348 01:06:45,970 --> 01:06:47,240 Joel Comm: out now. Let me out. 1349 01:06:47,240 --> 01:06:49,360 Travis Wright: What was so good for me is that, you know, 1350 01:06:49,360 --> 01:06:51,370 Travis Wright: when you look at it and it's so creative, he 1351 01:06:51,370 --> 01:06:54,400 Travis Wright: made all the songs, produced all the songs, wrote all 1352 01:06:54,400 --> 01:06:57,490 Travis Wright: the lyrics, made all the made all the music, did 1353 01:06:57,490 --> 01:06:59,920 Travis Wright: all the recording, did all the lighting, all of it, 1354 01:06:59,920 --> 01:07:03,280 Travis Wright: all the editing, the produced like it did to me. 1355 01:07:03,280 --> 01:07:06,160 Travis Wright: It's just that's why it got nominated for six Emmys 1356 01:07:06,160 --> 01:07:09,380 Travis Wright: and won three because it's just who does that like 1357 01:07:09,400 --> 01:07:11,380 Travis Wright: That was so good. And then Netflix goes, Wow, that 1358 01:07:11,380 --> 01:07:13,510 Travis Wright: was so good. Do you have any B-roll? So we 1359 01:07:13,510 --> 01:07:16,870 Travis Wright: actually they released another one thing called Outtakes from Inside. Yeah. 1360 01:07:17,410 --> 01:07:17,980 Travis Wright: It's so good. 1361 01:07:18,040 --> 01:07:21,460 Joel Comm: Good stuff. Yeah. Well, thanks for listening, everybody. We appreciate 1362 01:07:21,460 --> 01:07:24,280 Joel Comm: you as always. You can write us at Bad Crypto 1363 01:07:24,280 --> 01:07:27,400 Joel Comm: podcast at gmail.com or give us a call on the 1364 01:07:27,400 --> 01:07:34,000 Joel Comm: bad crypto hotline at 788859030 and we're going to have 1365 01:07:34,000 --> 01:07:36,250 Joel Comm: a new NFT is coming your way as well. So 1366 01:07:36,250 --> 01:07:39,820 Joel Comm: if you're not in the bad crypto nifty club, go 1367 01:07:39,820 --> 01:07:43,760 Joel Comm: to bad crypto dot uncut dot FM and get these 1368 01:07:43,760 --> 01:07:47,830 Joel Comm: spinny red and for more airdrops coming your way. And 1369 01:07:47,950 --> 01:07:51,250 Joel Comm: that's all I got. Lord Travis Scott formerly sir. 1370 01:07:51,280 --> 01:07:53,380 Travis Wright: That's all you get. You got an hour today. You 1371 01:07:53,380 --> 01:07:54,550 Travis Wright: got an hour plus. 1372 01:07:54,550 --> 01:07:54,940 Joel Comm: Boom. 1373 01:07:55,090 --> 01:07:56,890 Travis Wright: Boom badness. 1374 01:07:57,160 --> 01:07:59,680 Joel Comm: So stay bad. Oh. 1375 01:08:12,940 --> 01:08:18,700 S4: A group Whose band? 1376 01:08:20,500 --> 01:08:24,130 Joel Comm: The Bad Crypto podcast is a production of Bad Crypto LLC. 1377 01:08:24,310 --> 01:08:27,040 Joel Comm: The content of the show, the videos and the website 1378 01:08:27,040 --> 01:08:31,150 Joel Comm: is provided for educational, informational and entertainment purposes only. It's 1379 01:08:31,150 --> 01:08:35,080 Joel Comm: not intended to be and does not constitute financial investment 1380 01:08:35,080 --> 01:08:38,110 Joel Comm: or trading advice of any kind. You shouldn't make any 1381 01:08:38,110 --> 01:08:41,769 Joel Comm: decisions as to finances, investing, trading or anything else based 1382 01:08:41,770 --> 01:08:46,300 Joel Comm: on this information without undertaking independent due diligence in consultation 1383 01:08:46,300 --> 01:08:49,719 Joel Comm: with a professional financial advisor. Please understand that the trading 1384 01:08:49,720 --> 01:08:54,760 Joel Comm: of Bitcoins and alternative cryptocurrencies have potential risks involved. Anyone 1385 01:08:54,760 --> 01:08:57,160 Joel Comm: wishing to invest in any of the currencies or tokens 1386 01:08:57,160 --> 01:09:00,519 Joel Comm: mentioned on this podcast should first seek their own independent 1387 01:09:00,520 --> 01:09:02,380 Joel Comm: professional financial advisor. 1388 01:09:03,070 --> 01:09:04,750 Travis Wright: Badness. Stay bat all. 1389 01:09:04,750 --> 01:09:06,280 Joel Comm: Up in your business with the badness. 1390 01:09:07,270 --> 01:09:07,990 Travis Wright: Whilst deep.