Joel Comm: What in the world is happening with the financial markets?
Joel Comm: How about the crypto markets? Are we on the cusp
Joel Comm: of a recession and dystopian hellscape? Or are there reasonable
Joel Comm: steps you can take to ensure your own financial and
Joel Comm: emotional security? We're pleased to welcome Tika Tiwari of the
Joel Comm: Palm Beach letter back to the show to discuss all
Joel Comm: of these things and more. So if you're ready for
Joel Comm: a healthy dose of optimism and financial literacy, you've come
Joel Comm: to the right place. As we welcome ticket Tory back
Joel Comm: to the show for episode number 663. Of the Bad
Joel Comm: Crypto podcast.
Joel Comm: Five, four, three. How are all of the blues band? I.
Joel Comm: Hello, friends. Happy New Year. Welcome to the Bad Crypto podcast.
Joel Comm: Still the show for the crypto curious and the crypto serious.
Joel Comm: I am Sir Laura Joel calm.
Travis Wright: And I am Lord Travis Rhodes.
Joel Comm: No longer sir. You felt that was redundant.
Travis Wright: Well, it's funny when you get somebody going, Wait a second,
Travis Wright: if you're a sir and then you become a Lord,
Travis Wright: Lord be circumcised.
Joel Comm: The whole damn thing is tongue in cheek to begin with.
Joel Comm: I don't know.
Travis Wright: We're going to be barons, okay? Going to be this
Travis Wright: land and work our way up to Duke.
Joel Comm: I again, I got a coupon. You can get a
Joel Comm: discount on the discount if.
Travis Wright: This are for show the year.
Joel Comm: This is our first show.
Travis Wright: The year? Yeah. We taking a break.
Joel Comm: I was on vacation. You were on vacation. And we're back.
Joel Comm: And we're back, bitches.
Travis Wright: Yeah. Yeah. I had a time we could talk about
Travis Wright: it in future episodes. We want to get into this
Travis Wright: one because this is a really good episode and we
Travis Wright: also get to do a little conspiracy chops in here.
Travis Wright: And then. And then Tiki is like cutting us off
Travis Wright: of the need for the Mickey go.
Joel Comm: We're not going to teak, we're not going to Tiki Room,
Joel Comm: and we jump right into the interview. So let me
Joel Comm: set the stage here. Ticket to worry is the executive
Joel Comm: chairman strategy board at Defi Technologies. They're a company aiming
Joel Comm: to become the world leader in offering services built upon Defi.
Joel Comm: He is also the editor of the Palm Beach Letter
Joel Comm: small captain cryptocurrency advisory firm Palm Beach Confidential. The dude
Joel Comm: is a former hedge fund manager, a Wall Street executive.
Travis Wright: Smart.
Joel Comm: Super smart, widely considered one of the world's premier crypto analysts.
Joel Comm: We talk a lot about a lot of stuff in
Joel Comm: this interview, so let's get to it. Hugo. What's going on, brother?
Teeka Tiwari: Hey, it's good to be here. We're starting.
Joel Comm: We're officially started. We're hanging out at my place here
Joel Comm: in Palma del Mar, Puerto Rico.
Travis Wright: That didn't seem like an official start. I kind of
Travis Wright: was just like, Hey.
Joel Comm: You know, that's how Rogan does it. Yeah. ROGAN Just
Joel Comm: kind of What's going on?
Travis Wright: Joel Rogan Yeah, apparently.
Joel Comm: Well, it's this in-person feel is just so much more intimate.
Joel Comm: All the interviews we do there, you know, on the screen,
Joel Comm: I'm so sick of Zoom and seeing just people's faces
Joel Comm: on the screen in front of me like tech is
Joel Comm: here in the flesh. That's right. Because he is also boricua.
Joel Comm: He is Puerto Rican. Yeah.
Teeka Tiwari: Yes.
Joel Comm: You How long you been here on the island?
Teeka Tiwari: Five years. I came here in 2018.
Joel Comm: You're. You are O.G. Then.
Teeka Tiwari: When the real OGs came in 2012 and 2014, those
Teeka Tiwari: are the real. Oh, geez.
Joel Comm: I'm just a G.
Travis Wright: Yeah, I'm not even a G. I'm still like an.
Joel Comm: F workin on the alphabet still. You know, we're coming up.
Travis Wright: To see that Mickey Mouse right there, though. That's pretty badass.
Travis Wright: What is that from?
Joel Comm: So Travis's admiring a Walt Disney Mickey Mouse poster. This
Joel Comm: was hanging in my childhood home the whole time I
Joel Comm: was growing up. Really? Yeah. So frame in a frame,
Joel Comm: but a different frame. I had this framed in San Juan.
Joel Comm: So this is.
Travis Wright: This is real.
Joel Comm: This is old school. Kind of like me.
Travis Wright: Very cool.
Joel Comm: I'm old school. We have a guest here, though. Like, nobody.
Travis Wright: Cares what I haven't seen before. And I was like, Well, man, is.
Joel Comm: There anything else? You haven't seen my.
Travis Wright: Boys and Tiki? Yeah.
Joel Comm: All right, let's get into into the markets, because crypto
Joel Comm: has been kind of going sideways here for a little bit.
Joel Comm: And we got to, you know, timestamp this. It is
Joel Comm: January 11th, is that right?
Teeka Tiwari: It's 111.
Travis Wright: Yeah, 1111112, three.
Joel Comm: Make a wish today and bitcoin's actually up the crypto
Joel Comm: markets up a little bit as of this moment. Bitcoin's
Joel Comm: like 17 five. Etherium is, I think 1350, something like that.
Joel Comm: The stock market, you know, has had a little bit
Joel Comm: of a run and I saw you a couple of
Joel Comm: weeks ago here at a party and I said, What
Joel Comm: do you think is going to happen? And you told me,
Joel Comm: and I want you to tell everybody right now what
Joel Comm: is happening now and what do you think is going
Joel Comm: to happen in the near term.
Teeka Tiwari: So to give some context as to what's happening now,
Teeka Tiwari: we've got to pull the camera back a little bit.
Teeka Tiwari: What a lot of people don't realize, especially new people
Teeka Tiwari: that have come into crypto or even people that have
Teeka Tiwari: come into the stock market over the last 5 to
Teeka Tiwari: 10 years is that asset prices, the prices of financial assets,
Teeka Tiwari: the prices of homes, the prices of art, the prices
Teeka Tiwari: of collectible cars and yes, even the price of Bitcoin
Teeka Tiwari: is ultimately determined by the risk free rate of return, i.e.
Teeka Tiwari: how much money do I get if I'm not taking
Teeka Tiwari: any risk buying, let's say, U.S. government bonds? Well, when U.S.
Teeka Tiwari: government bonds are trading at 50 basis points or 100
Teeka Tiwari: basis points, what it does is when you do a
Teeka Tiwari: relative valuation between the risk free rate of return and
Teeka Tiwari: everything else, it increases the value of everything else. So
Teeka Tiwari: why am I talking about that? I'm talking about that
Teeka Tiwari: because for the first time in 15 years, you can
Teeka Tiwari: actually get a halfway decent rate of return on or
Teeka Tiwari: on the on the risk free rate. Recently, the ten
Teeka Tiwari: year Treasury was yielding 4.3%. It's now yielding three and
Teeka Tiwari: a half. If you look at investment grade bonds, these
Teeka Tiwari: are bonds that are rated triple B or up. They
Teeka Tiwari: have a default rate of 0.32%. So essentially risk free
Teeka Tiwari: if we use the investment grade bond income as the
Teeka Tiwari: risk free rate, well, that's yielding five and a half percent.
Teeka Tiwari: That is unbelievable that you can get a five and
Teeka Tiwari: a half percent interest rate without taking any risk. I don't.
Joel Comm: Believe it. Well, you said it was unbelievable.
Teeka Tiwari: It is unbelievable. You can go go online and do searches.
Teeka Tiwari: You can get bonds in any number of A-rated blue
Teeka Tiwari: chip companies that are yielding around five and a half percent.
Teeka Tiwari: Some but some are earlier than 6%.
Travis Wright: Being so high, it's almost like, wow, 5%, but inflation's
Travis Wright: at X percent.
Teeka Tiwari: Okay, so let me finish what I have to say.
Teeka Tiwari: This is this is all to give you a preliminary
Teeka Tiwari: framework for why pricing is the way it is and
Teeka Tiwari: what will impact pricing moving forward. The thing to remember
Teeka Tiwari: about inflation is it doesn't stay around for ten, 15
Teeka Tiwari: or 20 years. It stays around for a few years.
Teeka Tiwari: And if the Federal Reserve can stay focused on it,
Teeka Tiwari: they can typically bring it under control within 2 to
Teeka Tiwari: 3 years. So if you're getting, let's call it a
Teeka Tiwari: five and a half percent return and inflation normalizes to 2%
Teeka Tiwari: within three years, but you've got long dated bonds at
Teeka Tiwari: 20 years, you're actually crushing it. You're getting 350 basis points.
Teeka Tiwari: Above the long term rate of inflation with no risk.
Teeka Tiwari: So what's happening? And again, the reason why I'm bringing
Teeka Tiwari: this up is that because that math exists, an enormous
Teeka Tiwari: amount of money has moved out of stocks and into
Teeka Tiwari: far less riskier assets. What we're experiencing right now is
Teeka Tiwari: a de-risking of assets across the board, from small investors
Teeka Tiwari: to large investors. And and crypto is a part of that.
Teeka Tiwari: Remember that Bitcoin came about at the beginning of the
Teeka Tiwari: world's largest experiment of money printing. Right. So Bitcoin has
Teeka Tiwari: always known a world of massive money printing. Bitcoin was
Teeka Tiwari: a was and is a check against out of control
Teeka Tiwari: money printing. Well, what happens when the money supply shrinks? Well,
Teeka Tiwari: that's what's happening right now. Bitcoin goes down in price.
Teeka Tiwari: Bitcoin becomes less valuable. The more responsible central bankers become.
Teeka Tiwari: Now what does that mean? Does that mean now that
Teeka Tiwari: we don't need Bitcoin? Central bankers have found, you know,
Teeka Tiwari: they found Jesus and they're on the righteous path? No,
Teeka Tiwari: they're only doing this because inflation is a gun at
Teeka Tiwari: the temple of central bankers. If they do not get
Teeka Tiwari: inflation under control, they know that their currencies will be
Teeka Tiwari: as worthless as an Argentinean peso or a or a bolivar,
Teeka Tiwari: and they are deathly afraid of that taking place. And
Teeka Tiwari: so we should take Jerome Powell seriously when he says
Teeka Tiwari: he is unafraid of breaking the economy and causing massive
Teeka Tiwari: unemployment in order to get inflation under control. And under
Teeka Tiwari: that scenario, you really don't want to be long anything
Teeka Tiwari: other than short term bonds. Certainly dollar cost averaging to Bitcoin,
Teeka Tiwari: as I do. I think it makes sense. But if
Teeka Tiwari: you're looking to allocate large capital right now, I wouldn't
Teeka Tiwari: be putting it in equities and I certainly wouldn't be
Teeka Tiwari: putting it in any crypto. And if I'm going to
Teeka Tiwari: go in crypto, I'm not going to go way out
Teeka Tiwari: onto the risk curve. I am Bitcoin and Ethereum. That
Teeka Tiwari: to me, those are the two, let's call them blue chips,
Teeka Tiwari: but they're not. Let me be clear, they're not blue chips.
Teeka Tiwari: But if we're saying, okay, what are the highest quality
Teeka Tiwari: projects within the space, it's Bitcoin and Ethereum. There's no
Teeka Tiwari: question to that. The other thing to remember is that
Teeka Tiwari: right now, if we look at the the the traditional
Teeka Tiwari: financial market, they are taking their cue from their analysts
Teeka Tiwari: as to what they believe will happen on interest rates.
Teeka Tiwari: And so their allocation to Bitcoin or even Bitcoin derivatives
Teeka Tiwari: like this CME futures is all based upon where they
Teeka Tiwari: think inflation will go and what they think the Federal
Teeka Tiwari: Reserve will do. Their models suggest that not only is
Teeka Tiwari: Powell going to stop raising interest rates, but he's going
Teeka Tiwari: to pivot and cut interest rates at some point this year.
Teeka Tiwari: And that is not going to happen. That is a fantasy.
Teeka Tiwari: We call that hope here. Not only do crypto degenerates
Teeka Tiwari: suck on the hope pipe, but also the guys on
Teeka Tiwari: Wall Street as well. And they are imbibing deeply of
Teeka Tiwari: the opium pipe right now. If they think that Jerome
Teeka Tiwari: Powell is going to stop and cut interest rates in 2023,
Teeka Tiwari: it is not not going to happen. And when that
Teeka Tiwari: reality sinks in, not only will equity prices go down,
Teeka Tiwari: but so will Bitcoin prices and so will the theory
Teeka Tiwari: and prices.
Travis Wright: So if we're looking at long term, then, you know,
Travis Wright: we haven't bottomed out according to what you're thinking, then,
Travis Wright: you know, it seems to me there's a lot of
Travis Wright: people talking about the global economy is teetering like we've
Travis Wright: we've been kind of sitting on the edge, like the
Travis Wright: Bank of England was was teetering. There was like a
Travis Wright: global margin calls and stuff going on. Like there's some
Travis Wright: crazy stuff going on internationally in the economy. So I
Travis Wright: know a lot of people are freaking out. So but
Travis Wright: from your perspective, you think that it might it will
Travis Wright: recover eventually and potentially Bitcoin could go to, what, 12, ten?
Travis Wright: What do you think?
Teeka Tiwari: Well, let's look at the different the different scenarios that
Teeka Tiwari: are out there. If we're just looking at a scenario
Teeka Tiwari: of Jerome Powell raising rates longer than the Street expects,
Teeka Tiwari: you know, Bitcoin will come in, but not a lot,
Teeka Tiwari: you know, 15 k something, something like that. If we're
Teeka Tiwari: talking about a continuation of the fraud and the fallout
Teeka Tiwari: from Sam Bankman-fried, where let's say DCG has to file bankruptcy,
Teeka Tiwari: they have to liquidate the Gbtc trust and start smacking
Teeka Tiwari: the bid with all that Bitcoin. And then let's say
Teeka Tiwari: that then unwinds tether, which we then find out is
Teeka Tiwari: a fraud, or Binance has a huge problem. And let's
Teeka Tiwari: say hypothetically, they have a fraud problem. To a situation
Teeka Tiwari: like that where you have massive systemic rollout risk. You know,
Teeka Tiwari: 9 to $11000 Bitcoin is not out of the question.
Joel Comm: Well, this story just popped up on Reuters today. World
Joel Comm: Bank warns global economy could tip into recession in 2023.
Joel Comm: So the bankers, the bankers are, you know, sounding an alarm.
Joel Comm: At the very least here. They're slashing their forecasts on
Joel Comm: growth and and saying they expect global GDP of 1.7%
Joel Comm: in 2023, which is as slow as it's been outside
Joel Comm: of the 2009 2020 recession since 1993.
Teeka Tiwari: Yeah, but but if you look at Wall Street estimates,
Teeka Tiwari: they've barely moved. They're saying that that earnings will come
Teeka Tiwari: down maybe three or 4%.
Joel Comm: They don't care.
Teeka Tiwari: Well, think about what they're in the business out there.
Teeka Tiwari: They're called sell side analysts for a reason. Right. Their
Teeka Tiwari: job is to sell stocks and to sell deals that
Teeka Tiwari: they have positions in or that are investment banking clients.
Teeka Tiwari: You know if a sell side analysts lips are moving,
Teeka Tiwari: you know he's lying.
Joel Comm: So their job is to sell retail to mom and pop,
Joel Comm: take their money and give it to the big financial institutions, right? Correct.
Joel Comm: That's what they do every day, all day. It's it's
Joel Comm: a chump bet. Yeah.
Teeka Tiwari: But that's not to say there aren't pockets of value
Teeka Tiwari: in the stock market. There are. What I'm saying is,
Teeka Tiwari: is that just be patient. Now is not the time
Teeka Tiwari: to FOMO. There's a time where it makes sense to
Teeka Tiwari: FOMO early to mid-stage of a bull market. Yes, FOMO.
Teeka Tiwari: You'll make a ton of money. FOMO and being too
Teeka Tiwari: conservative will actually hurt you in a market like that.
Teeka Tiwari: But we're only in year one of a crypto bear
Teeka Tiwari: market that normally goes for two, two and a half years.
Teeka Tiwari: And we're only in year one of an equity bear
Teeka Tiwari: market in a situation where interest rates are actually going up,
Teeka Tiwari: not going down. So it there is no reason to FOMO.
Teeka Tiwari: You know what I'm buying right now? 30 and 90
Teeka Tiwari: day government bonds. That's it. And then I'm waiting.
Joel Comm: But you're not selling. You're. You're Bitcoin. You're not.
Teeka Tiwari: I've never sold my Bitcoin from the first Bitcoin I
Teeka Tiwari: bought back in 2016 for 400 and change. I don't
Teeka Tiwari: I don't sell my Bitcoin. I don't trade my bitcoin,
Teeka Tiwari: trading your bitcoin. And I got to make a lot
Teeka Tiwari: of enemies during this is one of the stupidest decisions
Teeka Tiwari: you could ever make. Stupid, stupid.
Joel Comm: I have sold the bottoms so many times. You may
Joel Comm: as well just look at me and say stupid, stupid, stupid.
Joel Comm: Because I know I it's. I don't know why I've capitulated.
Joel Comm: I understand capitulating once, but making the same mistake twice. That's. Yeah,
Joel Comm: I didn't learn from it.
Teeka Tiwari: Here's the key with bitcoin. Buy it. Don't use leverage.
Teeka Tiwari: Use your own wallet. Put it away. And just don't
Teeka Tiwari: think about it. Go live your life. Okay. The Bitcoin
Teeka Tiwari: is there to do the heavy lifting for you over time.
Teeka Tiwari: If you want to sit there and gamble your way
Teeka Tiwari: and try to become a multimillionaire gambling, fine. Do that.
Teeka Tiwari: But know that you're doing that. But if you want
Teeka Tiwari: to own Bitcoin and you want to own a long
Teeka Tiwari: term asset, that will compound for you at a faster
Teeka Tiwari: rate than any other asset in the world will for
Teeka Tiwari: you at least any other traditional asset, then all you
Teeka Tiwari: have to do is be smart enough to do nothing.
Teeka Tiwari: That's it.
Joel Comm: Yeah. I'm good at doing nothing.
Travis Wright: That that is an interesting thing. So now there's a
Travis Wright: lot of people who are like, okay, so I've gotten
Travis Wright: out of some shit coins and you're putting them in
Travis Wright: some stablecoins and people are thinking, okay, the stablecoin, it's
Travis Wright: in my wallet, it should be secure. But sometimes these
Travis Wright: stablecoins are not secure. So it's like, what? What would
Travis Wright: you suggest to somebody who's like, they pulled money out
Travis Wright: of the market and it's sitting in usdc or USD
Travis Wright: and it's not doing much. They're scared of Defi right
Travis Wright: now and they're just kind of chillin on it like.
Teeka Tiwari: Buy 90 day government bonds that are guaranteed and yielding
Teeka Tiwari: 4 to 4 and a half percent and just wait.
Teeka Tiwari: That's it. Just wait.
Travis Wright: Do you need to pull it out of the market,
Travis Wright: out of crypto, into cash and then trade that and
Travis Wright: Ameritrade or something?
Teeka Tiwari: You got Ameritrade, Fidelity and you can you can go
Teeka Tiwari: directly to Treasury Direct and buy your bonds directly from
Teeka Tiwari: the government, buy some bonds, go enjoy your life and
Teeka Tiwari: be patient and wait. We've all been through bull markets before.
Teeka Tiwari: We know they don't just go straight up, right. They
Teeka Tiwari: always give you multiple opportunities to get back on bull.
Joel Comm: And then they end in tears and weeping and gnashing
Joel Comm: of teeth.
Travis Wright: But what happens when the dollar collapses?
Teeka Tiwari: The dollar is not going to collapse. That is another. Okay,
Teeka Tiwari: here we go. Here was just some just total garbage.
Teeka Tiwari: Should have been people have been talking about for the
Teeka Tiwari: last 30 years. Do you know what there is in
Teeka Tiwari: the world? Hundreds of trillions of dollars? Were you going
Teeka Tiwari: to put that you're going to put that in the
Teeka Tiwari: Chinese currency where they're going to confiscate all your money,
Teeka Tiwari: You're going to put that in. The Swiss franc will
Teeka Tiwari: blow up the Swiss franc. It's not big enough. You're
Teeka Tiwari: going to go put it in Japanese yen. Yeah, good
Teeka Tiwari: luck with that. There's only so many places you can
Teeka Tiwari: put that much money. There's the only bucket big enough,
Teeka Tiwari: and the only place that that protects your property ownership
Teeka Tiwari: rights is the United States. Say what you want about
Teeka Tiwari: America are property ownership rights and all contract law here
Teeka Tiwari: is second to none. So at the end of the day,
Teeka Tiwari: you can hate on America all you want. You can
Teeka Tiwari: say they print all they want. No one is destroying
Teeka Tiwari: the dollar any time soon. Yes, it's a broken system.
Teeka Tiwari: Think of the dollar. As I've always said that the
Teeka Tiwari: dollar is is is the is. He's the skinniest fat
Teeka Tiwari: guy in a room of unhealthy fat guys. Right? They're
Teeka Tiwari: all unhealthy. They're all got type two diabetes. They're all
Teeka Tiwari: doing the wrong thing. But he's the healthiest guy in
Teeka Tiwari: the room.
Travis Wright: That's not me because I'm the fattest guy here.
Joel Comm: I don't know. You look lighter than I saw you
Joel Comm: last time.
Travis Wright: That. So let me ask this then. So the U.S.
Travis Wright: dollar is not going to crash, but what they converted
Travis Wright: to the digital currency. Right. Which is scared a lot
Travis Wright: of people. We're talking to people and they're going, oh, man.
Travis Wright: And when you see some of the how cbdcs can
Travis Wright: be programmed as like, oh, well, we're going to give
Travis Wright: you your universal basic income and oh, you don't have
Travis Wright: your latest update so you don't get your cbdc Or
Travis Wright: maybe there's a it's restricted with the time frame they
Travis Wright: can expire. So some of this stuff about the cbdcs
Travis Wright: really freaking people out long term.
Teeka Tiwari: Well, they should, but that's 1012 years.
Travis Wright: Really.
Teeka Tiwari: From that. That's not going to happen right away. Think
Teeka Tiwari: about all the constitutional issues, right, of having state issued
Teeka Tiwari: money and then think about what happens if the Federal
Teeka Tiwari: Reserve is issuing money. It will automatically defund the entire U.S.
Teeka Tiwari: banking system because nobody will want to have money within
Teeka Tiwari: the individual banks. Is there's a lot of of potential
Teeka Tiwari: problems of rolling that out. And the Federal Reserve, they
Teeka Tiwari: don't want to break anything. Right. They would rather move slowly.
Teeka Tiwari: I agree with you. It's eventually coming. You pull that
Teeka Tiwari: camera back far enough. Cbdcs are definitively coming. But by then,
Teeka Tiwari: certainly my hope is that we will be on the
Teeka Tiwari: way to hyper Bitcoin ization. Bitcoin will be much more valuable,
Teeka Tiwari: much larger. We'll have very good low cost net payment
Teeka Tiwari: networks and then there'll be an actual alternative to Cbdcs.
Teeka Tiwari: You're not very.
Joel Comm: Optimistic and very reasonable in your approach. It's easy to,
Joel Comm: you know, there's a lot of people with the sky
Joel Comm: is falling, the sky is falling, and there's there's people,
Joel Comm: a lot of people now they're saying, especially quarter two
Joel Comm: is when we're going to really see the big crash
Joel Comm: in the market that is is bound to come. But
Joel Comm: I remember during the crypto bull market where people are
Joel Comm: saying it's going from 65 to 100000, it's going to
Joel Comm: go and everybody was pushing and what happened? It contrarian
Joel Comm: went the other way. So now you got a the
Joel Comm: majority are saying Bitcoin is not yet tested its lows.
Joel Comm: What if everybody's wrong here the same way they were
Joel Comm: wrong in the bull market?
Teeka Tiwari: Well, the first things first is everybody here listening has
Teeka Tiwari: a stake. So if if we if we're wrong, you're
Teeka Tiwari: going to make money regardless. Right. Okay. The other thing
Teeka Tiwari: is this is a case for why you should dollar
Teeka Tiwari: cost average at least part of your capital, let's say, okay,
Teeka Tiwari: I've got X amount of capital to allocate this year,
Teeka Tiwari: take 30% of it and dollar cost average. Do it daily.
Teeka Tiwari: Do it weekly. Do it month. So at least you
Teeka Tiwari: have a position. The conundrum that you're talking about faces
Teeka Tiwari: every investor, whether you invest in stocks, whether you invest
Teeka Tiwari: in homes, whether you flip collectible cars, watches. Everybody has
Teeka Tiwari: to deal with. That's that same issue because none of
Teeka Tiwari: us have a crystal ball.
Travis Wright: I'm actually looking for this thing on my phone where
Travis Wright: if you see the map of 2008 2009 crash and
Travis Wright: then how we're mapping out right now from the months
Travis Wright: leading up to the crash, it's almost like identical. And
Travis Wright: so it seemed like in 2008, 29, they just kind
Travis Wright: of kicked the can down the road a little bit.
Travis Wright: They did quantitative easing, printed a bunch of money and said,
Travis Wright: we're going to handle this crash down the road.
Joel Comm: And bailed out Wall.
Travis Wright: Street. And here we are 15 years later, the kick
Travis Wright: can kick in down the road. I mean, how crazy
Travis Wright: could the crash be from your guys's, you know, a
Travis Wright: Palm Beach research group? And you guys are looking at this.
Travis Wright: How does this look? Are we looking at the market?
Travis Wright: We're sitting at a market. We're going 40%, down 30%.
Travis Wright: How big of a crash are we going to look at?
Travis Wright: Or maybe it's a minimal crash. I mean, I don't know.
Travis Wright: But there are some there's some sky is falling people.
Travis Wright: And I think I fit in that sometimes.
Teeka Tiwari: Again, I'm going to bring it back to interest rates.
Teeka Tiwari: It all depends on interest rates. If interest rates stay
Teeka Tiwari: where they are, the U.S. equity market, as measured by
Teeka Tiwari: the S&P 500, is probably 15 to 20% overvalued. If
Teeka Tiwari: interest rates start coming down, then the the the current
Teeka Tiwari: valuation is fair value on the S&P 500. If interest
Teeka Tiwari: rates go up, let's say they go up to five, six, 7%,
Teeka Tiwari: then you're going to see equity prices drop. If we
Teeka Tiwari: go to 7%, then equity prices are probably going to
Teeka Tiwari: drop 25 to 30% more from here. But the key
Teeka Tiwari: thing to remember is that 0809 was driven by a
Teeka Tiwari: financial crisis because of bad collateral and and over lending.
Teeka Tiwari: It's the same thing that's going on with Defi was
Teeka Tiwari: going on back then, except Defi doesn't have any, you know,
Teeka Tiwari: a big paper to no.
Joel Comm: Bailouts.
Teeka Tiwari: You know, like the Federal Reserve. Mm hmm. So what
Teeka Tiwari: happened back in 0809, you had somebody who would take
Teeka Tiwari: this one asset and they would borrow against it repeatedly,
Teeka Tiwari: you know, six, seven, eight, you know, sometimes 38 times
Teeka Tiwari: they would borrow against the same asset. So they can't
Teeka Tiwari: do that anymore. That's not to say that you don't
Teeka Tiwari: have some reckless borrowing going on in the financial system.
Teeka Tiwari: You clearly do. You you mentioned it in passing when
Teeka Tiwari: you talked about what was going on with the Bank
Teeka Tiwari: of England. The reason why you had that massive wobble
Teeka Tiwari: in the Bank of England is you saw interest rates
Teeka Tiwari: go from about one and a half percent to four
Teeka Tiwari: or 5% on long dated U.K. government debt. They're called gilts.
Teeka Tiwari: So so why does that matter? It matters because the
Teeka Tiwari: pension funds in the UK system were buying UK gilts
Teeka Tiwari: at one and a half percent, leveraging them 4 to 1.
Teeka Tiwari: So they were getting a 6% return on capital. But
Teeka Tiwari: what happens when a bond that was issued and one
Teeka Tiwari: and a half percent yield now goes to 5%? What happens?
Teeka Tiwari: It drops in value by 75% and it wipes out
Teeka Tiwari: your equity. And that's what happened. The entire pension fund system,
Teeka Tiwari: the entire pension fund system for U.K. was bankrupt. And
Teeka Tiwari: the only reason why that why those losses didn't have
Teeka Tiwari: to get booked is because the Bank of England came
Teeka Tiwari: in and said, we are going to buy an unlimited
Teeka Tiwari: amount of long dated debt in order to bring these
Teeka Tiwari: yields down.
Travis Wright: So is that a down the road?
Teeka Tiwari: Oh, no. Oh, it's 100% are kicking the can down
Teeka Tiwari: the road. Now, this is what I believe is happening
Teeka Tiwari: since that took place. Obviously, I don't know this for
Teeka Tiwari: a fact, but what I think is happening is that
Teeka Tiwari: you've you are probably seeing central bankers around the world
Teeka Tiwari: speak to all of their member banks and saying, you've
Teeka Tiwari: got to get in contact with all of your pension
Teeka Tiwari: fund counterparties and get them off leverage because because otherwise
Teeka Tiwari: they can't raise interest rates and they need to raise
Teeka Tiwari: interest rates in order to bring inflation down. So I
Teeka Tiwari: think that's what's happening right now, because as soon as
Teeka Tiwari: that happened, you started seeing this really weird buying of
Teeka Tiwari: the ten year Treasury in the US. And I'm looking
Teeka Tiwari: at that and I'm like, Who's buying that? That's not
Teeka Tiwari: a pension fund buying that. That's got to be some
Teeka Tiwari: type of yield curve control happening by the Federal Reserve
Teeka Tiwari: in order to mitigate some of this risk that we
Teeka Tiwari: saw play out in the UK. So my guess is
Teeka Tiwari: that is that the very large players that have big
Teeka Tiwari: leveraged positions in bonds have deleveraged and now that that
Teeka Tiwari: deleveraging is either done or mostly done, you are going
Teeka Tiwari: to start seeing the interest rate on the ten year
Teeka Tiwari: Treasury start to rise and also the interest rates in
Teeka Tiwari: the UK start to rise quite dramatically. So if anybody
Teeka Tiwari: has long, long dated bonds, you should take advantage of
Teeka Tiwari: this rally and get out of them. And if you
Teeka Tiwari: want to stay in bonds, go short, dated, go, go.
Teeka Tiwari: 90 days, six months. But but do not take long
Teeka Tiwari: duration risk at this. It just. It just doesn't make any.
Joel Comm: You are a licensed financial advisor?
Teeka Tiwari: No, I am not a licensed financial. So none of
Teeka Tiwari: this is financial. Okay.
Joel Comm: Just. Just Jack and.
Teeka Tiwari: I am just giving my perspective.
Joel Comm: So what does this tell you? The price of gold
Joel Comm: is approaching 1900 dollars again. So it's. I don't know.
Joel Comm: It's supposed to be a core corollary with the dollar, Right?
Teeka Tiwari: Been trading sideways for ten years. The dollar goes down,
Teeka Tiwari: gold goes up. Uh, I don't know so much.
Travis Wright: Fake gold and fake silver paper.
Teeka Tiwari: I don't even look at gold anymore.
Joel Comm: Don't know about this. I mean, sideways. Ten years ago,
Joel Comm: it was. Where are we at? Here. I'm looking at
Joel Comm: the actual price. It was around 1100 dollars, you know,
Joel Comm: So it got as high as 2000. I mean, but.
Teeka Tiwari: That's.
Joel Comm: That's a.
Teeka Tiwari: Pretty.
Joel Comm: That's a pretty steep. But, you know, increase there.
Travis Wright: So that always makes me sad because I look at
Travis Wright: that and I know in 2009 and 2010 and 11,
Travis Wright: I was buying gold and silver instead of buying Bitcoin.
Travis Wright: And then if I had done that, I would, you know,
Travis Wright: I'd probably be closed in at a certain point at
Travis Wright: near $1,000,000,000. But instead I have like half of the
Travis Wright: value that I spent on the gold and silver because
Travis Wright: the prices were. Abby And then what? I was like, Oh,
Travis Wright: so I knew something was coming and my just strategy
Travis Wright: was not the best.
Teeka Tiwari: But the thing to remember is the core buyer of gold.
Teeka Tiwari: They're dying. There are people those core buyers are in
Teeka Tiwari: their seventies and eighties now, and the people that are
Teeka Tiwari: coming up that would would normally buy gold, well, they're
Teeka Tiwari: buying Bitcoin, right? So if you look at the demographics
Teeka Tiwari: over the next 20 years, you've got Gen Z, Gen X,
Teeka Tiwari: and then Gen Y, they're going to be inheriting about
Teeka Tiwari: $68 trillion in value.
Travis Wright: In gold as.
Teeka Tiwari: Well. No, no, just, just just in value valuation. Yeah.
Teeka Tiwari: What I'm saying is that that value is not going
Teeka Tiwari: to trickle into gold. That value is going to trickle it.
Teeka Tiwari: Certainly much of that is going to trickle into Bitcoin,
Teeka Tiwari: Etherium and the crypto ecosystem, but it's not going into gold.
Teeka Tiwari: I think gold is outside of maybe some brief moments
Teeka Tiwari: where gold has spikes which are impossible to predict. Think
Teeka Tiwari: about this. We've seen the worst inflation in 40 years.
Teeka Tiwari: It would be you could have been totally right four
Teeka Tiwari: years ago and said we're going to see out of
Teeka Tiwari: control 40 year inflation, load up on gold, buy gold futures,
Teeka Tiwari: you're going to make a fortune and you would have
Teeka Tiwari: looked like a dummy.
Joel Comm: So what they said they'd never seen buy silver and,
Joel Comm: you know, stock up now silver is going to go
Joel Comm: to the moon. Silver is going to catch up with,
Joel Comm: you know, there's too.
Travis Wright: Much manipulation in the space. If if that wasn't the case,
Travis Wright: then maybe that would be so. It at least it
Travis Wright: seems like that to me. But it's like also, I've
Travis Wright: always looked at this and I go, man, you know,
Travis Wright: how is gold not ever really tied to Bitcoin at
Travis Wright: all in a way that's easily accessible for people? It's
Travis Wright: like really, right now, one Bitcoin is worth eight and
Travis Wright: a half ounces of gold at the high at $69,
Travis Wright: like 30 something ounces of gold for one day connected
Travis Wright: me like that's like, whoa, like that. The dollar, the
Travis Wright: dollar over time teeters and the value of it, but
Travis Wright: it's like it's costing $8, $9 to go buy a
Travis Wright: dozen eggs now. Right. And so it's almost like how
Travis Wright: how many bitcoins per egg.
Teeka Tiwari: But the thing is that the dollar is not a
Teeka Tiwari: store of value. If you're using the dollar, that's a value.
Teeka Tiwari: You know, you need to do some remedial training.
Travis Wright: You don't want to keep your money in a bank account.
Travis Wright: You don't want to keep it in a stablecoin You
Travis Wright: don't want to keep it in gold or silver. You
Travis Wright: don't want to keep it.
Teeka Tiwari: Again, again, this is I'm not telling anybody what to do.
Teeka Tiwari: This is what I'm doing. I own short term government bonds. Sure,
Teeka Tiwari: four and a half percent, which is what you're getting
Teeka Tiwari: on government bonds is probably half the current inflation rate.
Travis Wright: Right.
Teeka Tiwari: But last year, would you prefer to have lost four
Teeka Tiwari: and a half percent or the amount of money that you.
Travis Wright: Lost across.
Teeka Tiwari: The board?
Travis Wright: Yeah, jeez. In some cases some of my cryptos are
Travis Wright: down 90 something percent. I mean, you're looking at that
Travis Wright: and it's just like, Oh, it hurts. Please make it stop. Gold.
Travis Wright: Please make it stop.
Joel Comm: So U.S. government, everybody can buy U.S. government bonds on
Joel Comm: any brokerage, right?
Teeka Tiwari: Basically, yeah. And if I ever get in trouble for
Teeka Tiwari: telling people to buy U.S. government bonds, you know, I mean,
Teeka Tiwari: I don't know what I could do. There's nothing the
Teeka Tiwari: safest instrument in the world. Again, go no more than
Teeka Tiwari: 90 days or 60 or 90, 90 days to six
Teeka Tiwari: months out, because you don't want that that the longer
Teeka Tiwari: you go out on bonds, the higher your risk is
Teeka Tiwari: to changes in interest rate. They call that duration.
Travis Wright: I got a question around that. So say I go,
Travis Wright: I've never bought a bond before ever. Right. So let's
Travis Wright: say I go out and I buy a 30 day bond.
Travis Wright: That 30 day is up. Does it automatically sell at
Travis Wright: that particular price? You do. You got to go in and.
Teeka Tiwari: No, you don't have to sell anything. What happens is
Teeka Tiwari: you're lending the government money for 30 days. Yeah. And
Teeka Tiwari: after 30 days they give you your money back and
Teeka Tiwari: your a little bit of interest.
Travis Wright: Okay. Well, nice. Very nice. Okay.
Joel Comm: Automatic, easy peasy. So your your newsletter, very popular. Tell
Joel Comm: people a little bit about, you know, what you do
Joel Comm: at Palm Beach and Yeah.
Teeka Tiwari: So Palm Beach Confidential we started that newsletter to cover the.
Teeka Tiwari: So space. And in 2016 there really wasn't very good,
Teeka Tiwari: unbiased research in crypto. And I say I'm biased because
Teeka Tiwari: at least at our newsletter, we're not allowed to buy
Teeka Tiwari: the things that we recommend. I can buy Bitcoin, I
Teeka Tiwari: can buy Etherium. That's it. Anything outside of that that
Teeka Tiwari: I've recommended, I can't buy. So we also don't take
Teeka Tiwari: any outside sponsorship or advertising or anything of that nature.
Teeka Tiwari: So we can go into the project, look at it,
Teeka Tiwari: write about it, and not be beholden to anyone which
Teeka Tiwari: has given us an edge over the years. And that's
Teeka Tiwari: what we do is essentially where most of us are
Teeka Tiwari: ex Wall Street guys and we take our due diligence
Teeka Tiwari: approach and we, we write in a way that everybody
Teeka Tiwari: can understand, but we also write in a way that
Teeka Tiwari: respects the the research process that we all learned on
Teeka Tiwari: Wall Street.
Travis Wright: It seems to me like, Oh my God, you find
Travis Wright: something just for example, Polygon, and you're like, Oh man.
Travis Wright: But I'm not saying you think Polygon's grades are bad,
Travis Wright: but you're like, Oh man, it's doing stuff with Disney.
Travis Wright: It's got the great metrics they're building. They're doing all
Travis Wright: this stuff, and you're like, Oh, I can't buy animatic, because.
Teeka Tiwari: That's right.
Travis Wright: Really? And you're like, Damn, I should get some matic.
Travis Wright: So like, and so that's why it's a good idea
Travis Wright: for you to be part of the newsletter because you
Travis Wright: get to hear about these projects. You're doing deep dives
Travis Wright: in and you guys aren't winning at all on these
Travis Wright: antithetical getting paid.
Joel Comm: So getting paid for the newsletter because he's got right.
Teeka Tiwari: That's our revenue stream is the newsletter. So we have
Teeka Tiwari: built our business around providing excellent research and that's that's
Teeka Tiwari: our model. We make money off of subscription fees. That's it.
Teeka Tiwari: So if we don't do a good job, we don't deliver,
Teeka Tiwari: you know, Describer, I want.
Travis Wright: A refund. Give me a refund. I lost 99% on
Travis Wright: mad them and give a refund. I didn't lose that
Travis Wright: much on Matic. Only about 85% of.
Teeka Tiwari: Your price did your own backup.
Joel Comm: To too many dollars.
Travis Wright: Yeah. Yeah. I think Matt got it to to 50
Travis Wright: to 60, you know.
Joel Comm: Yeah. Somebody that's 85 $0.90.
Travis Wright: It's okay down 60.
Teeka Tiwari: It's only about 60%.
Joel Comm: That's actually one of the biggest winners right now I
Joel Comm: think in, in crypto. So you you worked on Wall Street.
Joel Comm: Tell us some of the what are the dirty little
Joel Comm: secrets there in the boys club. Okay.
Teeka Tiwari: So one of the one of the biggest dirty little
Teeka Tiwari: secrets on Wall Street is Wall Street does not want
Teeka Tiwari: you to be rich. Now, they also don't want you
Teeka Tiwari: to be broke. They want to keep you even and
Teeka Tiwari: they want to milk you for fees. It's the reason
Teeka Tiwari: why they say, let's just hook us hook you. They
Teeka Tiwari: want to hook you up into their fee machine. They
Teeka Tiwari: want to be able to take money from your account
Teeka Tiwari: every month and put it into their high cost funds.
Teeka Tiwari: And they just basically slowly bleed you dry for 30 years.
Teeka Tiwari: That that's their biggest thing. It's like, don't blow customers up,
Teeka Tiwari: keep them even and just keep them in this for.
Joel Comm: Just just enough. Right. Talk about, you know, you want
Joel Comm: to buy some stocks are going to go up. They're
Joel Comm: going to go down. And you got Jim Cramer, you know,
Joel Comm: shilling on TV, probably get paid well to do what
Joel Comm: he's doing. And and and and what I'm told from
Joel Comm: my friends and advisors is that buying stocks is a
Joel Comm: chump bet that that's not what they're doing on Wall Street,
Joel Comm: that they're playing with the in-between money. Right. With their
Joel Comm: options and their futures. That's what the big boys do.
Teeka Tiwari: There's a lot of different ways that that larger companies monetize.
Teeka Tiwari: But just just remember, Wall Street's biggest profit center is you,
Teeka Tiwari: the customer, always remember that.
Travis Wright: So if it's like big Pharma, it's like every time
Travis Wright: that you heal someone, you lose a customer. So they
Travis Wright: don't they don't like that, right?
Teeka Tiwari: So if you're looking to get involved in the stock market,
Teeka Tiwari: you're much better off just buying a a an S&P
Teeka Tiwari: 500 Vanguard fund, where I think it's about maybe ten
Teeka Tiwari: basis points is what they charge you. You're going to
Teeka Tiwari: beat 85% of all fund managers. And over a long
Teeka Tiwari: period of time, you're going to beat more than 90%
Teeka Tiwari: of the fund managers in the world. So so again,
Teeka Tiwari: I you know, I know this is about crypto, but
Teeka Tiwari: let's talk about investments and the attitude around investments.
Joel Comm: It's about money. I mean, we're it's about the future.
Joel Comm: It's about making good decisions. Yeah, it's bad crypto, but
Joel Comm: the bad, you know, we're bad so we can talk
Joel Comm: about wherever we want.
Teeka Tiwari: Well, if you really care about making money and growing
Teeka Tiwari: your net worth, the single biggest lever you have is
Teeka Tiwari: your is your career. So you should look at your career.
Teeka Tiwari: If your career does not give you the ability to
Teeka Tiwari: make a lot of money, you need to change careers.
Joel Comm: Travis, he's talking to us. Oh, man.
Travis Wright: We we need to do the good Crypto podcast. It
Travis Wright: will be the last episode of City. Once it's all
Travis Wright: your fault, I blame. I blame myself. Never mind. I
Travis Wright: blame me.
Teeka Tiwari: So in terms of wealth creation, focus on a great career,
Teeka Tiwari: focus on getting great at your career and increase your
Teeka Tiwari: ability to earn. And then once you've. Your ability to earn.
Teeka Tiwari: Don't increase your ability to spend. Reduce your. Reduce your
Teeka Tiwari: spending and then invest the balance. Something as simple as
Teeka Tiwari: an S&P 500 fund over time will develop enough wealth
Teeka Tiwari: for you to retire on. And, of course, you know,
Teeka Tiwari: I'm going to say buy a little bitcoin along the way.
Teeka Tiwari: But it's a mistake to put your, in my opinion,
Teeka Tiwari: to put your entire net worth into Bitcoin. I've always
Teeka Tiwari: said the cryptos and Bitcoin are one small part of
Teeka Tiwari: of a holistic wealth plan. They're not the be all
Teeka Tiwari: and end all of everything you should do in order
Teeka Tiwari: to create long term wealth.
Travis Wright: It's a financial instrument, not the be all, end all,
Travis Wright: and take a look and learn about some of these
Travis Wright: other things. I think that's one of the reasons people
Travis Wright: tune in to our show as well. For one, they
Travis Wright: wanted to learn about crypto and to it's like, Well,
Travis Wright: how do I make money? What do I need to do?
Travis Wright: And so we've always been adamant about not giving financial advice,
Travis Wright: but we bring people on who are intelligent enough to
Travis Wright: to teach people what to do. So if you're listening
Travis Wright: right now, pay attention to some of these things and
Travis Wright: think about some of these other financial instruments, because right
Travis Wright: now we're in a really interesting time in world history.
Travis Wright: And so be safe.
Teeka Tiwari: Right? Be safe. And the other thing is to think
Teeka Tiwari: about your career right now and think about, okay, does
Teeka Tiwari: my career have the ability to for me to make
Teeka Tiwari: a lot of money? And then what are the people
Teeka Tiwari: that are making a lot of money in my career
Teeka Tiwari: doing so? Take one of those people out, identify them
Teeka Tiwari: and take them out for lunch and you pay for
Teeka Tiwari: the lunch.
Joel Comm: And don't say, I want to pick your brain.
Teeka Tiwari: Don't say I want to pick your brain.
Joel Comm: I hate that.
Teeka Tiwari: And just and just talk to them.
Travis Wright: Don't say I want to pick your nose either, because
Travis Wright: that's gross.
Teeka Tiwari: Also, that's very gross. And just have I just say, listen,
Teeka Tiwari: you know, I've really seen you've been incredibly successful. Tell
Teeka Tiwari: me your story. What do you do different from everybody else?
Teeka Tiwari: What makes you different? And somebody and if you just
Teeka Tiwari: shut up and let that person speak and and that
Teeka Tiwari: person will tell you the things that they've done, they've
Teeka Tiwari: they've generally come in earlier. They work harder. They've they've
Teeka Tiwari: done more. They've put themselves in the pathway of opportunity.
Teeka Tiwari: They've taken on more. And maybe you might be sitting
Teeka Tiwari: there and especially if you work for somebody else and
Teeka Tiwari: you think, well, you know, if I do all that,
Teeka Tiwari: I'm not going to get paid, or what do I
Teeka Tiwari: do if that's not recognized by my employer? The thing
Teeka Tiwari: to remember is you do all of that extra work,
Teeka Tiwari: not for your employer, you do it for you. So
Teeka Tiwari: you can become the type of person that gets better
Teeka Tiwari: at what you're doing. So you can ultimately either make
Teeka Tiwari: more money in the role you have or become more
Teeka Tiwari: valuable in the marketplace so somebody else will pay you
Teeka Tiwari: more money for what you do. It's about your development
Teeka Tiwari: and there's no such thing as wasted effort. If you say,
Teeka Tiwari: Oh my goodness, you know, I did all this extra work,
Teeka Tiwari: I wrote this extra part, I went through these extra
Teeka Tiwari: classes and and nobody in my company cares or nobody
Teeka Tiwari: cares that I made extra money for the company. It
Teeka Tiwari: doesn't matter. What matters is, is that you got better.
Teeka Tiwari: Your confidence is going to increase. You can take that
Teeka Tiwari: increased confidence and that increased competence and parlay it into
Teeka Tiwari: another role that gets you more money. It's about developing
Teeka Tiwari: you for your benefit.
Travis Wright: I love that. You know, and that's one of the
Travis Wright: things that I that I really did back in 2006.
Travis Wright: I created a podcast called Cultivate Greatness. And I was like,
Travis Wright: you know what? If I go and interview all these
Travis Wright: amazing people, then some of that's going to rub off.
Travis Wright: And now I have a lot of these amazing people
Travis Wright: in my network. Right. And so, like even taking time
Travis Wright: and just creating a podcast of some sort and interviewing
Travis Wright: people will allow you to have access to people you
Travis Wright: wouldn't usually have access to.
Joel Comm: We call that the Jon Lee Dumas effect, right? That's
Joel Comm: basically what everybody, Jon did. And so they're being successful
Joel Comm: people and now is all the entrepreneurs are burning their
Joel Comm: own fire. So I actually had a point and in
Joel Comm: my bad joke there, I just I lost it completely. Oh,
Joel Comm: I remember. So. Everybody can't do that, though, because as
Joel Comm: was said in Caddyshack all those years ago by Ted.
Joel Comm: What Ted and I want to say Ted Knight was
Joel Comm: as name the comedian tonight. What he said was, well, Danny,
Joel Comm: the world needs ditch diggers, too, right? Who would do
Joel Comm: the the jobs? That you're not aspiring to greatness. You're
Joel Comm: the you know, you're the clerk at a Wal-Mart. You're,
Joel Comm: you know.
Teeka Tiwari: So I have been both the ditch digger and the
Teeka Tiwari: ditch owner. Right. And when I was let's call it
Teeka Tiwari: Ditch Digger, working three jobs. Right. Working during the day
Teeka Tiwari: and then working at night and then working on the weekends.
Teeka Tiwari: I was still thinking about how do I get better
Teeka Tiwari: at my job. I was still spending far less than
Teeka Tiwari: I was earning. I was still. Right.
Joel Comm: You're you're an achiever. And the world is not made
Joel Comm: of achievers. There is a reason we have this bell
Joel Comm: curve and we have this thing called average because the
Joel Comm: majority of people look, they're they they go to their
Joel Comm: jobs and they're not aspiring more to that. Their cash
Joel Comm: in their checks, they're barely living within their means and
Joel Comm: they have no hope of going beyond that in their
Joel Comm: mind that this is as good as it gets.
Teeka Tiwari: You're asking me how how do I how do I
Teeka Tiwari: force change on the.
Joel Comm: No, no.
Travis Wright: I'm saying how do you get a swift kick in
Travis Wright: the ass? You know what they're going to do? They're
Travis Wright: going to change if they want to change.
Teeka Tiwari: Right. That's the bottom line. I can't help those people.
Teeka Tiwari: I'm here on this podcast and do this type of
Teeka Tiwari: work for the person that wants to change that. The
Teeka Tiwari: person that look is looking around their life and they're thinking,
Teeka Tiwari: you know, my life's got to be better than this.
Teeka Tiwari: There's got to be a better life than this. Like
Teeka Tiwari: that guy, that girl, that person. I can help the
Teeka Tiwari: person who sits around and is perfectly happy with their
Teeka Tiwari: life as it is. God bless them.
Joel Comm: I don't think they're happy, though. I don't. Well, some
Joel Comm: people are, but.
Travis Wright: I have to change, Joel, because air is coming and
Travis Wright: it's here and it's getting crazy for a lot.
Joel Comm: Of us. Are you going down that rabbit hole? You
Joel Comm: going down? You see what's happened with A.I., with Chat,
Joel Comm: GPT and Mid Journey, These images, you know, all of
Joel Comm: a sudden, unless you are excellent as a photographer or
Joel Comm: as a content creator, you're you're not going to be
Joel Comm: needed anymore.
Teeka Tiwari: I would say this is a warning that everyone listening
Teeka Tiwari: to should pay attention to. If you have not made
Teeka Tiwari: obtaining financial freedom your top priority. You are making a
Teeka Tiwari: mistake of epic proportions because as I improves, economic opportunity
Teeka Tiwari: will shrink at a scale that we have never, ever
Teeka Tiwari: seen before. Economic opportunity is going to coalesce around the
Teeka Tiwari: very smartest people in this world.
Joel Comm: So where are the new opportunities? What's going to rise?
Joel Comm: What are we going to have a need for? You
Joel Comm: know what? With the horse and buggy, that thing goes away.
Joel Comm: You know, you get the car, right, Self-driving cars are
Joel Comm: going to come. Then you're not going to need Uber
Joel Comm: drivers that came up in this, you know, shared economy.
Joel Comm: Where are the opportunities going to rise? Have you thought
Joel Comm: about this much?
Teeka Tiwari: I haven't thought about it much, but I have thought about, okay,
Teeka Tiwari: what are the core skills that are valuable no matter
Teeka Tiwari: what world we live in? So one core skill that
Teeka Tiwari: that let's say you you think you have no talent?
Teeka Tiwari: I have average intelligence, but I'm not really particularly talented
Teeka Tiwari: in anything. There's one core skill that any I believe
Teeka Tiwari: anyone can learn that is the greatest equalizer.
Joel Comm: It's juggling. I know he's going to say juggling.
Travis Wright: Right? I thought it was going to be really, really,
Travis Wright: really ridiculously good looking and humble.
Joel Comm: And juggling.
Teeka Tiwari: That have no learning how to sell.
Joel Comm: See, I was wrong. I was learning.
Teeka Tiwari: How to sell. Anyone can learn how to sell. Yeah.
Teeka Tiwari: If you can learn how to sell, you will always
Teeka Tiwari: be able to feed yourself and your family because yes,
Teeka Tiwari: I will be able to learn how to sell. There is.
Joel Comm: It's that personal to.
Teeka Tiwari: That personal touch. It's going to be a long time
Teeka Tiwari: before computers will be able to fill in that gap.
Teeka Tiwari: And they will eventually, but it'll be a long time.
Travis Wright: We are entering into a brave new world. Seriously, as
Travis Wright: we're rushing to 2030, I mean, here we are. We're
Travis Wright: in 2023. Yeah, 2030 will be here before we know it. Right.
Travis Wright: And it seems to me like I'm looking at this.
Travis Wright: Maybe it's because after 2012, we've entered into the Age
Travis Wright: of Aquarius and things are just rapidly. But if you
Travis Wright: look at the last 100 plus years, you know, it's
Travis Wright: like from horse and buggy to the car to the
Travis Wright: airplane to good Lord, here we are with a I
Travis Wright: within a hundred years of civilization. And the last one actually,
Travis Wright: probably from maybe from the year 1900 to now maybe
Travis Wright: 125 years. The growth of humanity, it's almost like something
Travis Wright: has unlocked within us creative wise, and it's just exploded.
Travis Wright: And it seems to me that these next 7 to
Travis Wright: 10 years, we're going to see more change than we've
Travis Wright: seen in a long time. As I get smarter and
Travis Wright: some of this technology gets going. And so, you know,
Travis Wright: it is always interesting if you can see what's going
Travis Wright: on in some places around the world, like what the
Travis Wright: weak our population in China with the Panopticon and how there's,
Travis Wright: you know, cameras everywhere and all this stuff, It's like, man,
Travis Wright: just how do we work, do humanity's favor so we
Travis Wright: don't get stuck in this dystopian thing, man.
Teeka Tiwari: You said Panopticon. That's cool. I haven't that's. I haven't
Teeka Tiwari: heard that.
Joel Comm: It makes him sound real smart.
Teeka Tiwari: It does. Explain to everybody what the panopticon of an.
Travis Wright: Optical is, essentially a prison that you don't really realize.
Travis Wright: You're in a prison where there's cameras everywhere.
Joel Comm: The Matrix, are you?
Travis Wright: It's well, it's a it's the Panopticon, in its truest sense,
Travis Wright: is like a central tower that can watch everything. But
Travis Wright: not everybody realizes that they're being watched.
Joel Comm: Surveillance.
Travis Wright: It's everywhere. The surveillance state on steroids is happening.
Joel Comm: My, my, my new June oven is watching you right now.
Travis Wright: It's true. Yeah, that's right. And it's general direction. I
Travis Wright: don't know if it's all that or not, but it's
Travis Wright: probably going to make my bird my next meal. But
Travis Wright: so it is interesting to watch at where we're heading
Travis Wright: and it's like it's like that's where I'm kind of
Travis Wright: like humanity. We got to wake up because things could
Travis Wright: get crazy in here if we don't pay attention.
Teeka Tiwari: So let's talk about what would you view as a
Teeka Tiwari: crazy outcome?
Travis Wright: What do I view as a crazy outcome? Well, you know,
Travis Wright: just the tightening of of everything when governments well, now
Travis Wright: we're already at a point, from my perspective, where elections
Travis Wright: aren't trust, we can't trust elections because they're all using
Travis Wright: these online software. And then and look how quickly they
Travis Wright: shut down the world for COVID. You know, basically all
Travis Wright: all they had to say was, hey, we need to
Travis Wright: shut down for a couple of weeks and the whole
Travis Wright: world was essentially shut down. What happens when that next
Travis Wright: one gets released? How much more they tighten? And what
Travis Wright: it seems to me is like they always take two
Travis Wright: or three steps forward. They wait for the resistance and
Travis Wright: then they take a step back and just kind of wait.
Joel Comm: And you're such a conspiracy realist.
Teeka Tiwari: But let's talk about. I hear you. Yeah, but let's
Teeka Tiwari: talk about how it directly affects your ability to live
Teeka Tiwari: your life the way that you want to live.
Joel Comm: Well, we we couldn't go outside or.
Teeka Tiwari: Outside or outside of a pandemic, which is that's been
Teeka Tiwari: a once in a century kind of deal maybe. Right.
Teeka Tiwari: We'll see. You can call me.
Joel Comm: But they pulled it off Once they masked us, once
Joel Comm: they got millions of people jabbed. And now a lot
Joel Comm: of people are regretting having done so. And they collapse
Joel Comm: the economy. They killed businesses and they're like, huh, Well,
Joel Comm: if we could do that, what else? Can we do? Right.
Teeka Tiwari: Right. But they also flooded the world with liquidity. And again,
Teeka Tiwari: if you were nimble enough, there was an opportunity there
Teeka Tiwari: to make enormous sums of money. My, my my point is,
Teeka Tiwari: is that you're what it appears to me is that
Teeka Tiwari: you're personalizing something that isn't personal. The machinations of government
Teeka Tiwari: wanting to exert more control are as old as Roman times. Heck,
Teeka Tiwari: even Greek times for thousands of years. Governments, rulers, barons,
Teeka Tiwari: you name it. Kings, queens. We've never always have, always
Teeka Tiwari: tried to take control. You're right. Yeah, but. But there's
Teeka Tiwari: also a double edged sword with this technology. They're sucking
Teeka Tiwari: in so much information. They have information overload. What are
Teeka Tiwari: they going to do? You're telling me there's some guy
Teeka Tiwari: sitting there that's like, Oh, I know Travis is cheating
Teeka Tiwari: on his taxes and I'm going to catch him with
Teeka Tiwari: my with my little radar that I have with my A.I.. Wow. No, no.
Teeka Tiwari: They're going to go after Bezos. They're going to go
Teeka Tiwari: after Warren Buffett. They're going to go after these big, big.
Travis Wright: They're going to go after the $600 Venmo.
Teeka Tiwari: You know what I mean? That was just that was
Teeka Tiwari: the stupidest thing. It's like some guy sells his sells
Teeka Tiwari: his trading cards and you're going to I thank God
Teeka Tiwari: they strip that out. I mean, they say they're going
Teeka Tiwari: to bring it back. But I think that's one of
Teeka Tiwari: the dumbest.
Joel Comm: Things.
Teeka Tiwari: That they can do in such a time. Suck of
Teeka Tiwari: of government resources. You're going to chase people down for
Teeka Tiwari: $600 with the, you know, trading card revenue. It's nuts.
Joel Comm: I think perhaps you should be clear that you do
Joel Comm: not cheat on your taxes because he just asserted that.
Travis Wright: You might like that. That's not cool. Throw me under
Travis Wright: the bus. No, but I'm so I mean, if I
Travis Wright: look at it, I'm like, you know what? When I
Travis Wright: don't pay attention to the media or because I don't
Travis Wright: pay attention to mainstream media, but when I watch the
Travis Wright: doom and gloom, you can see it's like, Oh, sure,
Travis Wright: this is great.
Teeka Tiwari: But it's infecting your current state of mind. You know,
Teeka Tiwari: let me ask you, do you have food in your fridge?
Teeka Tiwari: For sure.
Travis Wright: It look like I have for you.
Teeka Tiwari: Are your bills paid? Yeah. Do you have people that
Teeka Tiwari: love you? For sure. Do you enjoy your life and
Teeka Tiwari: live your life?
Travis Wright: Well, that's how I do. And that is. That's the case.
Travis Wright: And that's what I talk about. But I can kind
Travis Wright: of see it's like it's that sort of the cavalier
Travis Wright: thing that kind of makes people go all right as
Travis Wright: they slowly inch towards the shitty ness for us all.
Travis Wright: And so if I look at it, I mean, I
Travis Wright: want to be optimistic. I think that humanity on its
Travis Wright: core is really positive. Yeah, but.
Teeka Tiwari: You're carrying a homing device that listens to everything you say,
Teeka Tiwari: that tracks everything you.
Travis Wright: Do in sacred geometry. Track the tracks, the.
Teeka Tiwari: Tracks everywhere you go. And you tell me you care
Teeka Tiwari: about your freedom. Mm hmm. Put this in the goddamn
Teeka Tiwari: garbage If you care about your freedom. Carry a flip phone.
Joel Comm: Yeah, dude.
Travis Wright: A Faraday cage.
Joel Comm: Yeah. Yeah.
Travis Wright: I got it. But, you know, you can see how,
Travis Wright: you know, even people who are going to protest and stuff,
Travis Wright: they're like, Oh, well, they protested. We pinged their phone.
Travis Wright: We saw who they are. Boom. Now they're gone. They haven't.
Travis Wright: You don't see them anymore. Yeah.
Teeka Tiwari: Don't again. If. If that bothers you. Yeah. Don't have
Teeka Tiwari: a phone. Opt out of having a phone. You can
Teeka Tiwari: live your life without a phone. It might feel like
Teeka Tiwari: you can't. But you.
Joel Comm: We did before. We did before a tweet.
Teeka Tiwari: Yeah.
Joel Comm: With your mind.
Travis Wright: Pretty instant to the chip.
Joel Comm: They're going to chip you and you'll be able to
Joel Comm: tweet with your mind. Done. This is why a lot
Joel Comm: of people, you know, So we just got our second.
Joel Comm: Not not Travis and me. We myself and my partner,
Joel Comm: we just got our second citizenships in another country and
Joel Comm: another passport. And I'm a big believer in having a
Joel Comm: plan B that is taking control of your life and going,
Joel Comm: what if things go to hell in a handbasket? What
Joel Comm: can I do?
Teeka Tiwari: You still haven't told me yet what hell in a
Teeka Tiwari: handbasket means. I need you to be specific.
Joel Comm: A dystopian hellscape. Dystopian hellscape.
Teeka Tiwari: What outcome is it that you would say? All right,
Teeka Tiwari: I'm out. I'm like, I know what the outcome is
Teeka Tiwari: for me and I'll tell you, but I want you
Teeka Tiwari: guys to tell me what.
Travis Wright: I would say. You think of the Great Reset. You're
Travis Wright: going to own nothing and you'll be happy. It bugs
Travis Wright: the World Economic Forum and how they're saying, Oh yeah,
Travis Wright: we're going to do away with me. You're going to
Travis Wright: be eating bug protein powder and you got it. And
Travis Wright: then we don't even know we don't even know the
Travis Wright: consequences of all these 60% of the world population taking
Travis Wright: this vaccine.
Teeka Tiwari: Okay.
Travis Wright: There's a lot of crazy shit going on.
Teeka Tiwari: And this is my third time asking you this question.
Teeka Tiwari: What is the specific set of circumstances?
Travis Wright: I think that I think the global economy crashes. They
Travis Wright: bring in a digital cbdc of some sort. 30 to 40%
Travis Wright: of the population dies because these strange medical coincidences and
Travis Wright: it just and then slowly they're going to go, oh, look, see,
Travis Wright: it's a new cause. This is causing all of us.
Travis Wright: And so then, you know, if you look at what
Travis Wright: Orwell said, it's my view as sort of an Orwell
Travis Wright: and Aldous Huxley hybrid. It's not so much one or
Travis Wright: the other. It's kind of a little bit of both.
Travis Wright: It's like a brave new world. There's going to be
Travis Wright: sort of quarantined areas that you can't go in. You're
Travis Wright: not approved to go in. If we're looking at ten
Travis Wright: or 15 years down the road going on and they
Travis Wright: keep they keep releasing these viruses or whatever's going on,
Travis Wright: and now you got to take the new vaccines. It's
Travis Wright: going to create a group of people that are very,
Travis Wright: very unhealthy because their immune systems are destroyed. I'm not
Travis Wright: taking those because I'm I'm not.
Joel Comm: So I think I think where it where it would
Joel Comm: cross the line, where it would say you must take
Joel Comm: this medical procedure whether you want to or not.
Travis Wright: You don't have this passport, this vaccine passport. You can't
Travis Wright: go and people can't come to America unless they have
Travis Wright: the vaccine. Our systems.
Joel Comm: Are still.
Travis Wright: Going on. It's just a matter of how we focus
Travis Wright: on him.
Joel Comm: He has something in his head, though, that. Go ahead.
Joel Comm: What is yours?
Teeka Tiwari: No, for me, it's it's a confiscation of wealth, loss
Teeka Tiwari: of property rights, insane taxation. Right. You know, those are
Teeka Tiwari: the things I would say. Okay, those are my red lines.
Teeka Tiwari: I'm out the type of hellscape that you are describing.
Teeka Tiwari: Let's say that I was a professional bookie, man. I
Teeka Tiwari: would those odds of.
Joel Comm: Well, look at China, though. I mean, they've got the
Joel Comm: social credit system now that there is if.
Teeka Tiwari: He's talking about 40% of the people dying.
Joel Comm: Well. Well, Travis has a flair for the dramatic frame.
Travis Wright: Yeah, well, I mean, the the statistics are ramping up pretty.
Travis Wright: I hope that's not the case. I hope that I'm wrong.
Joel Comm: Right. Because people we know.
Travis Wright: People we know.
Teeka Tiwari: Are.
Travis Wright: Have a very bad situation through these medical coincidences.
Teeka Tiwari: I feel like I have to be kind of a
Teeka Tiwari: voice of reason here and say, friends. Those of you
Teeka Tiwari: that are listening right now.
Joel Comm: These guys are conspiracy theorists.
Teeka Tiwari: Take an extra dose of your blood pressure medication and say,
Teeka Tiwari: take a breath. And and so many things that that
Teeka Tiwari: mankind has obsessed over and been afraid of. They've just
Teeka Tiwari: robbed the joy of of daily life. At the end
Teeka Tiwari: of the day, we don't know how long we're going
Teeka Tiwari: to be on this earth, Right? We could die next week.
Teeka Tiwari: We die tomorrow. We could die in 50 years. But
Teeka Tiwari: all we have is this specific moment. So, friends, if
Teeka Tiwari: you find yourself wrapped up with these types of thoughts
Teeka Tiwari: and it is taking away from the joy that you're
Teeka Tiwari: experiencing in this moment, please stop, because there's nothing you
Teeka Tiwari: can do about it in this moment. And so.
Joel Comm: We moved to Puerto Rico, Miguel.
Teeka Tiwari: You know, hug a loved one, do something nice for
Teeka Tiwari: a friend. Go out for a walk and enjoy the
Teeka Tiwari: the reality that you're living in right now. Because, yes,
Teeka Tiwari: maybe you're right. Maybe the reality we're moving into is horrible.
Teeka Tiwari: But why put yourself in a situation where you are
Teeka Tiwari: living that reality now and living it in the future?
Travis Wright: Well, I'm saying this is because I'd like to find
Travis Wright: a solution so that doesn't happen. I don't want a
Travis Wright: lot of I don't want some of this dystopian technocracy
Travis Wright: to happen. This technocracy, you know, whatever. Technocracy.
Joel Comm: I like tech or not.
Travis Wright: Graffiti is a fun technology. No, it's if you piece
Travis Wright: it all together, I mean, and I think that that's
Travis Wright: part of that has has hurt me with wealth creation
Travis Wright: even in the past. Because once I realized about the
Travis Wright: Federal Reserve Bank, how it's not backed by anything and
Travis Wright: how they print money out of thin air, and it's like, well,
Travis Wright: the military says so and so, the government says, oh,
Travis Wright: it's the world reserve currency, so it's money. When I
Travis Wright: realized that it wasn't money back in 2000, I was like,
Travis Wright: Oh my God, this is not even money. It's like,
Travis Wright: So I missed out on some of those tech booms.
Travis Wright: I knew Amazon was going to be great, but I
Travis Wright: was like, When's this going to. What's going on? So
Travis Wright: I know that some of that has impacted me. I
Travis Wright: looked at Apple, I bought some Apple stock, but then
Travis Wright: I'm looking at it going, Man, Yeah. So when Bitcoin
Travis Wright: came around, that's when I was like, Oh, look at this.
Travis Wright: It's outside of government creation potentially. Maybe the NSA did it.
Travis Wright: I don't know. Nobody really knows who Satoshi is, but
Travis Wright: it was that mechanism that's deflationary in nature. That's why
Travis Wright: I like cryptocurrency. That's why I like Bitcoin, because it
Travis Wright: takes the state element of control out of it in theory,
Travis Wright: which makes everything a little better. And so, you know,
Travis Wright: here we are, as you mentioned, we are in Puerto Rico.
Travis Wright: It's it's the world is not doesn't look like the
Travis Wright: sky is falling when you go outside. But I do
Travis Wright: know that I've seen a lot of friends that have
Travis Wright: passed away from medical coincidences right now, even though I said, hey,
Travis Wright: you might not I don't take be one of any technology, Right.
Travis Wright: I'm not going to go out and get V one
Travis Wright: of neuro link and connect my brain.
Joel Comm: I did buy the first iPhone, to be fair. Yeah,
Joel Comm: I did. But that's I'm a I'm a pioneer. You know,
Joel Comm: you mentioned bitcoin. Let's let's wrap with Bitcoin, okay? Because
Joel Comm: you guys are doing your analysis and you're looking at
Joel Comm: what's happening now, but you're also looking towards the future.
Joel Comm: A bull run is going to happen. Probably not this year.
Joel Comm: Maybe next year we start to see the beginning of
Joel Comm: it into the having into 2020 for two questions. One,
Joel Comm: do you think the governments of the world can, if
Joel Comm: they decide to stop Bitcoin? I have my own thoughts
Joel Comm: in that, but I want to know what you think
Joel Comm: and to where do you think we'll see a high
Joel Comm: on this next bull run?
Teeka Tiwari: Okay, Governments can slow down Bitcoin adoption and they're already
Teeka Tiwari: doing that and have done that. They cannot stop bitcoin.
Teeka Tiwari: So that's the answer to that question. Unstoppable in terms
Teeka Tiwari: of where Bitcoin will go on the next run. I,
Teeka Tiwari: I struggle with that because I was one of those
Teeka Tiwari: people that thought that we crack one case on Bitcoin
Teeka Tiwari: and was shocked, really, really shocked that we didn't commit.
Joel Comm: To it didn't match the previous cycles.
Teeka Tiwari: No, not at all. Not at all. And and the
Teeka Tiwari: only thing I can think that was different was you
Teeka Tiwari: had interest rates rising. So I.
Travis Wright: Agree. CME In the futures, does that impact?
Teeka Tiwari: I don't think so, because the spot market is so
Teeka Tiwari: much bigger than than the futures market trading in the future.
Teeka Tiwari: You know several years in the future, CME trading will
Teeka Tiwari: probably be much bigger than spot trading. But that's that's
Teeka Tiwari: quite a ways out, quite a ways away.
Travis Wright: It was perplexing because it did the 63 or 64
Travis Wright: and then it went down and then oh, then it
Travis Wright: was going back. I was like, whoa, it passed 60. Oh, man,
Travis Wright: we are. But I kind of thought that was the
Travis Wright: tip when it was the 63, 64. And then we
Travis Wright: saw it go above that and I was like, Oh,
Travis Wright: but I'm not financial advice. But it's like, I saw that.
Travis Wright: I was like.
Joel Comm: All right, so let's what's the prediction?
Teeka Tiwari: Yeah, I think we break six figures. I, I, I'm
Teeka Tiwari: at this point I'm not comfortable giving a target for
Teeka Tiwari: the next cycle. But yes, I believe. We will break
Teeka Tiwari: the old high and break above that six figure mark.
Joel Comm: So 100,000 minimum. What you're looking at from here, that's
Joel Comm: like what, a6x? Yeah. From where we are right now.
Joel Comm: So if you are indeed dollar cost averaging on bitcoin
Joel Comm: right now, two years is what we'd be looking at. Yes.
Joel Comm: I mean, if anybody could tell you in two years
Joel Comm: you're going to six extra money, It's ridiculous. Nobody would
Joel Comm: have believed that before except some far fetched scheme. Yeah.
Travis Wright: So what do you think about this time? Because, you know,
Travis Wright: every time that it halves, there's less Bitcoin that's being
Travis Wright: created right now. We're going to see it's going to
Travis Wright: start getting to the point, it seems to me like, oh,
Travis Wright: now we're going from this amount to this amount. There's
Travis Wright: only only a few bitcoins created every 10 minutes. Oh, no,
Travis Wright: half of that. So, you know, 19 point how many
Travis Wright: like 19.5 or so? There's only a million and a
Travis Wright: half bitcoin left to be mined. Does that impact the
Travis Wright: future ongoing price of Bitcoin in the future? Because there's
Travis Wright: not as many new ones being created.
Teeka Tiwari: Yeah, it does, because the demand picture for bitcoin increases
Teeka Tiwari: over time. If you look at the amount of external
Teeka Tiwari: demand for bitcoin from ten years ago, which was nothing
Teeka Tiwari: to then two years beyond that, and then two years
Teeka Tiwari: and two years and two years, it rises exponentially. And
Teeka Tiwari: if you look at excuse me, if you look at
Teeka Tiwari: what the source of new Bitcoin demand is going to
Teeka Tiwari: come from, a lot of it is going to be
Teeka Tiwari: driven from Wall Street. If you look at Fidelity adding
Teeka Tiwari: crypto to 40 million of their retirement accounts. Bitcoin is
Teeka Tiwari: going to become a core holding in the IRA slash
Teeka Tiwari: retirement space. That is going to be a massive sink
Teeka Tiwari: for Bitcoin demand. And then you're going to also have
Teeka Tiwari: products that will offer Bitcoin as part of a an
Teeka Tiwari: inducement to actually use the product, whether it's credit cards
Teeka Tiwari: or other types of products that that, you know, haven't
Teeka Tiwari: even been invented yet. So so the use case for
Teeka Tiwari: Bitcoin will increase at a rate that we haven't seen
Teeka Tiwari: before and it will increase around use cases that we
Teeka Tiwari: haven't seen before that are very, very difficult to proper size.
Teeka Tiwari: So if you think about bandwidth for the Internet, when
Teeka Tiwari: when bandwidth was being built out in 1999 and 2000,
Teeka Tiwari: a lot of these companies that were creating that bandwidth
Teeka Tiwari: were going out of business because institutions were saying, who
Teeka Tiwari: is ever going to need high speed Internet? That's ridiculous.
Teeka Tiwari: We got 50 4k Internet. That's fine. What do we do?
Teeka Tiwari: Why do we need 100 megs? And of course, you know,
Teeka Tiwari: you can't think and you can't see the future. I
Teeka Tiwari: can only see the future so far. And the future
Teeka Tiwari: moves exponentially, especially when it comes to tech. And so
Teeka Tiwari: the same, I believe, is true for the adoption of
Teeka Tiwari: Bitcoin and the different use cases for Bitcoin.
Travis Wright: What what about this? Because this is one thing that's
Travis Wright: always been interesting to me is that, you know, with
Travis Wright: gold and silver you can have paper, gold and silver
Travis Wright: and it looks like 500 times more gold than there
Travis Wright: is actual gold or 250 times more silver. Whatever the numbers,
Travis Wright: they might be flipped. I don't remember which ones, which what.
Travis Wright: And then we heard FCX was basically selling people Bitcoin
Travis Wright: and they weren't actually selling them Bitcoin. That's like what's
Travis Wright: going to stop. I know fidelity and they're all sort
Travis Wright: of they're all insured and whatever. But what's going to
Travis Wright: stop paper Bitcoin from being sold to some of these
Travis Wright: people and they're not and they're keeping them on the,
Travis Wright: the institutional exchanges and they're not managing their own coins
Travis Wright: and they have. Is that something that that we should
Travis Wright: think about?
Teeka Tiwari: You should, but you don't need to think about it
Teeka Tiwari: right now. That's a problem for seven years from now. Okay.
Teeka Tiwari: But not now.
Joel Comm: Okay. I'm not going to worry about it today. I'm
Joel Comm: going to put it put a, you know, reminder on there.
Joel Comm: Seven years to set your alarm.
Travis Wright: Remind me to worry about the.
Joel Comm: Bitcoin you just set off. Everybody's. Oh, that's right. Now
Joel Comm: I take it to worry Palm Beach letter. What's the
Joel Comm: website for people do.
Teeka Tiwari: It's a Palm Beach group dot com that has all
Teeka Tiwari: the info on our firm and we have a free
Teeka Tiwari: newsletter and you can find out more about us at
Teeka Tiwari: Palm Beach group dot com.
Joel Comm: Awesome dude thanks for coming and hanging out with us today.
Joel Comm: Thanks for shared.
Teeka Tiwari: It. Thanks for having me.
Joel Comm: Yeah right. And you're going to I can we talk
Joel Comm: real briefly about your plan, your personal plans for the future?
Joel Comm: Do you want to share at all what you're doing?
Teeka Tiwari: Sure. Yeah. I'm actually going to be crossing the Atlantic soon.
Teeka Tiwari: In my own boat? Yeah. A 50 foot catamaran built.
Teeka Tiwari: I'm just a couple of weeks and will be flying
Teeka Tiwari: out to the Canary Islands, and we're taking the boat
Teeka Tiwari: across the Atlantic, and we're sailing right into the Caribbean.
Joel Comm: Your captain to worry me.
Travis Wright: Ahoy! I mean, how would you be finding gold? Well,
Travis Wright: maybe not. You know.
Teeka Tiwari: I can go, right?
Travis Wright: He'd be fine in Bitcoin.
Teeka Tiwari: Yeah. So definitely once in a lifetime deal and really
Teeka Tiwari: looking forward to it.
Travis Wright: You better get yourself a good captain, matey.
Teeka Tiwari: I have a wonderful captain.
Travis Wright: That's good.
Joel Comm: Well, there you go. Ticker.
Travis Wright: Rodney. I say Tiki because his last name ends in
Travis Wright: an eye. And so in my head, just shortening it.
Joel Comm: So here's what you don't know. He his parents are
Joel Comm: from South America, from Guyana, and that was a British colony,
Joel Comm: and they moved to England. So he was born and
Joel Comm: raised in England and didn't leave until he was 16
Joel Comm: years old. So he had a British accent. And I said, What?
Joel Comm: What happened to your British accent? He said, Wall Street
Joel Comm: knocked it out of me, like working on Wall Street. Usually,
Joel Comm: you know, people keep their accent. And if you listen closely,
Joel Comm: knowing that, you can go, okay, I hear little shades.
Travis Wright: You know, of that. I did notice it seemed a
Travis Wright: little like it felt South African.
Joel Comm: Yeah, but it knocked it out of them. Like Wall
Joel Comm: Street is like in New York, just completely.
Travis Wright: When everybody's walking around talking like this. Yeah, it's like.
Travis Wright: So go to work. You get no tea, you get
Travis Wright: no credit.
Joel Comm: Let us know what you guys would like to. You know,
Joel Comm: here on bad crypto this year, we're we're open to
Joel Comm: interviewing a lot of leaders in the space. I will
Joel Comm: say that our inbox is full of people that want
Joel Comm: to be on the show, but we're being way more
Joel Comm: selective in terms of who comes on the show because
Joel Comm: we have to be interested in the content in order
Joel Comm: for it to be interesting to you, for us to
Joel Comm: help make it interesting. And we don't want to pump
Joel Comm: content out just to put audio in your ears. We
Joel Comm: want it to be quality.
Travis Wright: We want a week, maybe two a week.
Joel Comm: Maybe ten a.
Travis Wright: Week, maybe zero a week. Yeah. The word you got
Travis Wright: for the last.
Joel Comm: You know what? Hit the subscribe button. And when there's
Joel Comm: a new episode, it's going to end up on your device.
Joel Comm: And then you'll be like, Oh, I know this is
Joel Comm: quality because it's here in my my ears.
Travis Wright: We made you some content. You they made you your favorite.
Travis Wright: Open up. Why? Here comes the content.
Joel Comm: Are you just making this up or is this.
Travis Wright: Part of That's Bo Burnham? Oh, right, right, right.
Joel Comm: I saw you.
Travis Wright: You watch it. Watch. It's like, okay, but then like
Travis Wright: you listed on Spotify haha, you watch it again. You're like,
Travis Wright: Oh my God, it's is so brilliant. It's so I
Travis Wright: love that guy.
Joel Comm: It it was really well done for those. You don't
Joel Comm: know what he's talking about. He did a Netflix special,
Joel Comm: Bo Burnham called Inside that he filmed in.
Travis Wright: One room.
Joel Comm: During COVID and it is very creative and it will
Joel Comm: make you feel a little bit claustrophobic. Like I'm walking
Joel Comm: out now. Let me out.
Travis Wright: What was so good for me is that, you know,
Travis Wright: when you look at it and it's so creative, he
Travis Wright: made all the songs, produced all the songs, wrote all
Travis Wright: the lyrics, made all the made all the music, did
Travis Wright: all the recording, did all the lighting, all of it,
Travis Wright: all the editing, the produced like it did to me.
Travis Wright: It's just that's why it got nominated for six Emmys
Travis Wright: and won three because it's just who does that like
Travis Wright: That was so good. And then Netflix goes, Wow, that
Travis Wright: was so good. Do you have any B-roll? So we
Travis Wright: actually they released another one thing called Outtakes from Inside. Yeah.
Travis Wright: It's so good.
Joel Comm: Good stuff. Yeah. Well, thanks for listening, everybody. We appreciate
Joel Comm: you as always. You can write us at Bad Crypto
Joel Comm: podcast at gmail.com or give us a call on the
Joel Comm: bad crypto hotline at 788859030 and we're going to have
Joel Comm: a new NFT is coming your way as well. So
Joel Comm: if you're not in the bad crypto nifty club, go
Joel Comm: to bad crypto dot uncut dot FM and get these
Joel Comm: spinny red and for more airdrops coming your way. And
Joel Comm: that's all I got. Lord Travis Scott formerly sir.
Travis Wright: That's all you get. You got an hour today. You
Travis Wright: got an hour plus.
Joel Comm: Boom.
Travis Wright: Boom badness.
Joel Comm: So stay bad. Oh.
S4: A group Whose band?
Joel Comm: The Bad Crypto podcast is a production of Bad Crypto LLC.
Joel Comm: The content of the show, the videos and the website
Joel Comm: is provided for educational, informational and entertainment purposes only. It's
Joel Comm: not intended to be and does not constitute financial investment
Joel Comm: or trading advice of any kind. You shouldn't make any
Joel Comm: decisions as to finances, investing, trading or anything else based
Joel Comm: on this information without undertaking independent due diligence in consultation
Joel Comm: with a professional financial advisor. Please understand that the trading
Joel Comm: of Bitcoins and alternative cryptocurrencies have potential risks involved. Anyone
Joel Comm: wishing to invest in any of the currencies or tokens
Joel Comm: mentioned on this podcast should first seek their own independent
Joel Comm: professional financial advisor.
Travis Wright: Badness. Stay bat all.
Joel Comm: Up in your business with the badness.
Travis Wright: Whilst deep.