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Speaker 1: Good afternoon, getting right down the business here. We're doing

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Speaker 1: it live, doing more at four weekday afternoons, right after

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Speaker 1: Guy Benson at three and just before the seven ninety

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Speaker 1: KBC News Blitz with my buddy Randy Wang att five

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Speaker 1: Motech on Money Live on the air seven ninety KBC,

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Speaker 1: streaming live online worldwide at KBC dot com. Of course,

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Speaker 1: the on demand Motech of Money podcasts and all your

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Speaker 1: favorite podcast platforms.

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Speaker 2: Well.

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Speaker 1: Stock market big finish for the month of March after

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Speaker 1: a rough month, but today best day of the year,

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Speaker 1: with the Dow closing up eleven hundred twenty five points

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Speaker 1: to forty six thousand, three forty one. In fact, all

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Speaker 1: three of the major stock market averages posted their best

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Speaker 1: showing of twenty twenty six on this last day of

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Speaker 1: the month of March. The S and P five hundred

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Speaker 1: jumped one hundred and eighty five points at sixty five

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Speaker 1: hundred and twenty nine, and the Nasdaq gain nearly eight

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Speaker 1: hundred points at twenty one thousand and five ninety, fueling

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Speaker 1: the rally. Today, President Trump telling folks that he's willing

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Speaker 1: to end the war without fully reopening the Straight of

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Speaker 1: Horror moves the waterway that's handled roughly a fifth of

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Speaker 1: globe energy flows before the war started. Stocks gains accelerated

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Speaker 1: throughout the trading session today on the news that Iran

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Speaker 1: II could be open to ending the war. The S

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Speaker 1: and P five hundred moved to nearly three percent today,

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Speaker 1: the nasdak up nearly four percent, of the Dow advanced

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Speaker 1: two and a half percent, but it was still a

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Speaker 1: rough month of March. The tech heavy Nasdaq did move

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Speaker 1: into correction territory as we reported back on March twenty six,

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Speaker 1: meaning it had dropped ten percent or more below its

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Speaker 1: most recent high, and the Dow also joined the Nasdaq

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Speaker 1: in correction territory this month, but we did see a

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Speaker 1: pretty decent bounce back today, also helping to give the

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Speaker 1: financial markets a lift. Today, a surprisingly strong reading on

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Speaker 1: consumer confidence despite higher gas and diesel prices. Consumer confidence

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Speaker 1: moved higher this month despite soaring energy prices brought on

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Speaker 1: by the warrant Iran, according to the Conference Board. The

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Speaker 1: board said that while rising costs due to tariffs and

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Speaker 1: spiking oil prices induced by the conflict in the Middle

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Speaker 1: East did not affect the top line confidence, there was

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Speaker 1: increasingly more pessimistic views in other areas of that survey,

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Speaker 1: including expectations of higher inflation. Meanwhile, gas prices nationwide jump

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Speaker 1: past an average of four dollars a gallon for the

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Speaker 1: first time since twenty twenty two today, as the war

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Speaker 1: caused fuel prices to soore worldwide. Of course, four dollars

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Speaker 1: to be a bargain. Here in southern California, we blew

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Speaker 1: past that a long time ago. We're paying an average

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Speaker 1: of six dollars a gallon for self serve regular here

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Speaker 1: in the La Long Beach Aerio six thirty nine the

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Speaker 1: average price now for premium, and an eye popping seven

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Speaker 1: dollars fifty nine cents the average price for diesel in

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Speaker 1: the La Long Beach Aerro another record high for diesel

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Speaker 1: here in Southern California. Meanwhile, the price of oil surging

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Speaker 1: in London, Brank crude oil surging sixty three percent this month,

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Speaker 1: the biggest monthly gained dating back to nineteen eighty eight,

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Speaker 1: and we did see the price of West Texas Intermediate

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Speaker 1: moving about fifty one percent higher in the month of

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Speaker 1: March for its biggest jump since May of twenty twenty.

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Speaker 1: Right now, we're seeing oil up about one hundred and

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Speaker 1: two dollars eleven cents of Beryl in New York and

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Speaker 1: BRANKRWD in London, hovering around the one hundred eighteen dollars

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Speaker 1: of Beryl. President Trump telling aids that he was willing

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Speaker 1: to end the US operations against Iran, even if the

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Speaker 1: Strait of hor moves remained closed, according to the Wall

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Speaker 1: Street Journal, on confirmed reports also indicated that Iran's president

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Speaker 1: was open to ending the war. I'll discuss the latest

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Speaker 1: news impacting gas and oil prices and supplies with top

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Speaker 1: ranked analyst John Kilduff at Again Capital and CNBC contributor.

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Speaker 1: It was a wild month for crypto's. Bitcoin did take

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Speaker 1: hire today. We'll get an update to throw update on

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Speaker 1: what's happening with crypto's when we are joined later this

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Speaker 1: hour by Eleanor Terrett, business journalists and co hosts of

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Speaker 1: the Crypto in America podcast. First on Your Money, the

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Speaker 1: Markets and the Economy. Joining us live now is Brian Perry,

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Speaker 1: veteran market strategist at Brian Perryinvesting dot com all through

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Speaker 1: the twenty five percent cash machine. Brian, thank you very

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Speaker 1: much for taking the call on this on this really

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Speaker 1: big day here for the financial markets.

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Speaker 2: Yes, Frank, thanks for having me. And the big day

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Speaker 2: it was we had a market that was defined by

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Speaker 2: what is called a mean reversion trade going on here

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Speaker 2: where the data center stocks you know, that had been

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Speaker 2: under pressure for the last you know, almost five weeks,

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Speaker 2: you know, really gapped higher, you know, led by Averted

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Speaker 2: and other names in that space that just you know,

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Speaker 2: the spending is going on there. And I heard an

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Speaker 2: interview earlier this week that at a convention where the

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Speaker 2: data center you know, hyperscalers and all the construction engineering

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Speaker 2: guys and and all the providers and supply chain they

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Speaker 2: all get together and this has gone relentless. I mean,

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Speaker 2: it's it's just a relentless spending spree that's going on

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Speaker 2: here to build out the AI data center phenomenon. So

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Speaker 2: that's still going on in the you know, regardless of

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Speaker 2: what's happening around the world. You know, Trump, you know,

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Speaker 2: is he wants to end this war. You know, even

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Speaker 2: if there's straight uporm news isn't resolved. But you know,

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Speaker 2: with all prices up here still with wt I is

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Speaker 2: still above one hundred dollars, that just it just applies

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Speaker 2: a lot of consumer pressure here. So I'm not a

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Speaker 2: great fan of what's really going on here with this

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Speaker 2: particular you know one day wonder trade that we saw today.

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Speaker 2: We're still in a fog war in my view, and

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Speaker 2: we don't really know who's running the show over there.

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Speaker 2: And I rant so, you know, for lack of better

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Speaker 2: understanding here, I'm just believe that's your other analysts to

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Speaker 2: figure that out. But you know, this week we had

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Speaker 2: a couple of things here that we're positive here. You know,

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Speaker 2: we had fed chair Jerun Power describing the US economies

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Speaker 2: expanding at a solid pace, which is you know, that's

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Speaker 2: that's a remarkable statement in face of what's going on here,

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Speaker 2: you know, facing the complex balance of softening labor market

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Speaker 2: and renewed inflation risk because of the Middle East energy shock.

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Speaker 2: Now a lot of that's driven by small business though,

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Speaker 2: because small business in the last couple of years is

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Speaker 2: actually grown by ten percent, you know, there is it's incredible.

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Speaker 2: The SBA, the Small Business Administration, just released their monthly

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Speaker 2: report here and there's now thirty over thirty six million

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Speaker 2: small businesses in the United States. That's a sharp rise

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Speaker 2: of nearly ten percent from just two years ago. And

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Speaker 2: you know, about ninety nine and a half percent of

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Speaker 2: all businesses in the US are classified as small, so

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Speaker 2: there's there's a tremendous momentum there. There's lower regulatory barriers,

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Speaker 2: there's you know, a lot of people doing what are

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Speaker 2: called solo entrepreneur businesses now as remote work tools have

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Speaker 2: become more sophisticated, thank you, you know AI and a

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Speaker 2: lot of enshowing initiative that are taking place here. So

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Speaker 2: a lot of small to large scale domestic manufacturing and

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Speaker 2: spread growth, and so there's there's a lot of there's

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Speaker 2: some good undertones to the US economy here, and I

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Speaker 2: think that's important for people to note that that's why

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Speaker 2: we had you noted it earlier at a confidence number

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Speaker 2: that was better than expected, but the market was clearly

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Speaker 2: oversold and we got a big bounce. And this is

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Speaker 2: you know, the last day of the month of the quarter,

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Speaker 2: and professional managers, they just want to own the best

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Speaker 2: stocks that have performed the best over the last ninety days.

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Speaker 2: So there was a lot of weeks from here and

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Speaker 2: today's vent is it's very welcome, but you know, the

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Speaker 2: market as a whole is continuing to oscillate here. There's

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Speaker 2: a lot of technical damage on any there and so

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Speaker 2: I'm leary of this particular rally here, but I'm but

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Speaker 2: I'm also hopeful that this whatever the negotiations are, that

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Speaker 2: they'll get some traction here and then you know, the

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Speaker 2: news can follow on with because we're only three weeks

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Speaker 2: out from earning season here, and I think the first

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Speaker 2: court earnings are going to be pretty good. So and

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Speaker 2: you have Wall Street here actually looking still to the

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Speaker 2: average target for the s and P five hundred, but

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Speaker 2: you're in is still seventy six fifty, which is roughly

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Speaker 2: twelve percent higher than it's currently trades brand, and so

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Speaker 2: that's you know, that's basically the the AI industrialization is

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Speaker 2: the primary driver for the sales and earning's optimism here.

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Speaker 2: So there's a lot of bifracation going on here between

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Speaker 2: the labor market, you know, what AI is bringing in

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Speaker 2: the way of efficiencies and profitability going on. So there's

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Speaker 2: but it's still for the stock market in general, there's

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Speaker 2: there's a very good hopeful optimism here that once we

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Speaker 2: get to the other side of this and the market

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Speaker 2: is a forward discounting mechanism here with looks try to

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Speaker 2: look sixty nine months out that we're still going to

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Speaker 2: be in a good place here, you know, in the

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Speaker 2: second half of this year, and that just you know,

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Speaker 2: begs of the fact that what do we do with

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Speaker 2: our portfolios here in the meantime And we can get

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Speaker 2: to that in a minute, but back to you.

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Speaker 1: See you tonight, read about it tomorrow, but here at

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Speaker 1: now in MOTECH on Money on There live with veteran

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Speaker 1: market strategis Brian Perry and Brian Perryinvesting dot com and

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Speaker 1: author of the twenty five percent Cash Machine. So glad

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Speaker 1: you were available to unpack all of this today on

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Speaker 1: this big market data wrap up the quarter as you noted,

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Speaker 1: as well as the month of March. It's been a

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Speaker 1: while since we've chatted behind live microphone, so we want

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Speaker 1: to get your view on what's happening with the precious metals,

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Speaker 1: which I've seen wild moves certainly in the last month

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Speaker 1: or so, and gold actually got a bounce today on

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Speaker 1: prospects for the war coming to an end, at least

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Speaker 1: a hope that'll be coming to an end. That was

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Speaker 1: the signal from the White House here with gold now

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Speaker 1: hovering it around forty seven hundred ounce, Silver is back

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Speaker 1: to de shribe seventy six an ounce, so what about

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Speaker 1: the precious metals in all this here?

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Speaker 2: Now, Well, I still think gold and silver are bullish

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Speaker 2: trade here, Frank, You've got central banks still have to

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Speaker 2: continue to accumulate gold in defense of their deteriorating valuations

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Speaker 2: for their local currencies here. And I'm seeing that the

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Speaker 2: dollar's been strong and other currencies have been under attack.

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Speaker 2: So you know, I still think that, you know, for

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Speaker 2: foreign central banks are accumulating gold to offset the weakness

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Speaker 2: in their local currencies here. At the same time, you've

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Speaker 2: had a lot of liquid eight at the end of

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Speaker 2: the quarter here where gold was really strong, you know,

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Speaker 2: for the most of the first quarter, and with a

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Speaker 2: lot of other you know, major positions here that were

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Speaker 2: you know what we call you know, crowded trades in

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Speaker 2: tech and other areas here that really you know, got hit.

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Speaker 2: So you know, portfolio managers or pms as we call them,

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Speaker 2: we're under pressure to you know, d risk and de leverage.

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Speaker 2: And so there were some their winners here, and that

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Speaker 2: was the gold market. Short term, they intend all to

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Speaker 2: come back in, I promise you that, but it was

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Speaker 2: one way to offset their losses here and the risk

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Speaker 2: and break down their their their risk profile. I think

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Speaker 2: it's very good here. In fact, you know, I think

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Speaker 2: that once this, if this war effort does come to

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Speaker 2: a close, that you'll see this strong dollar move fade

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Speaker 2: pretty hard, and then you'll see the precious metals here

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Speaker 2: regain their outside momentum here in a fashionable way. So

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Speaker 2: I think that people should be considering buying the dip

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Speaker 2: here in gold across the board, whether it's the IAU,

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Speaker 2: which is the physical gold, or the gd X, which

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Speaker 2: is the gold miners. And from there, I think that's

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Speaker 2: you know, that this is an opportunity, uh to you know,

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Speaker 2: initiate positions and add to positions.

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Speaker 1: Very interesting and another reason for investors perhaps to keep

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Speaker 1: looking up given all this interest, renewed interest in space,

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Speaker 1: with the Otomist mission coming up here and then the

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Speaker 1: big space x I p O that that's expected June.

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Speaker 1: We see Tesla getting a pump today along with the

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Speaker 1: other tech names. What about the exciting things that are

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Speaker 1: coming up here?

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Speaker 2: Well, let me give I think I don't know if

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Speaker 2: I've mentioned this before, Frank, but let me give folks

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Speaker 2: a way into the SpaceX IPO here. You know, the

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Speaker 2: Baron Partner's Fund, it's a retail class fund. So the

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Speaker 2: SIMS Bravo, Papa Tango, Romeo X Ray bp TRX okay,

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Speaker 2: one quarter of their thirty two percent, actually thirty two

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Speaker 2: percent of the portfolio is invested in several changes of SpaceX.

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Speaker 2: See can buy SpaceX at market value right now through

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Speaker 2: the Baron Fund, and then another I'm going to say

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Speaker 2: twenty six percent is invested in Tesla, and then there's

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Speaker 2: eight other positions in the portfolio. So it's a very

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Speaker 2: concentrated bortfolio, similar to the Persian fund. You know, Pursion

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Speaker 2: Street I would sell Persian Square. So this is a

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Speaker 2: really easy way for people to just buy this mutual

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Speaker 2: fund and participate in the SpaceX because this one it

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Speaker 2: comes out, there's a lot of speculation that this this

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Speaker 2: stock is going to double and then you know, very

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Speaker 2: short period of time. So you know, if people want

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Speaker 2: to you know, have that opportunity, then then look at

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Speaker 2: the Baron Fund, d patr X. There's a way to

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Speaker 2: play this. I also think that within the space area

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Speaker 2: here there's there's a really some good looking stocks in here.

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Speaker 2: One of them, you know, Planet Labs PL had blowout numbers,

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Speaker 2: just blowout numbers, and the stock you know, it rallied

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Speaker 2: from like twenty three to thirty five. It's pulled back

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Speaker 2: here to twenty seven. Great opportunity here for people to

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Speaker 2: buy into Planet Labs as T Mobile is another rocket

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Speaker 2: company here a A S T S. Rocket Labs are

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Speaker 2: KLB and Lunar is l U n R. So I

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Speaker 2: have a space race portfolio which I've been you know,

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Speaker 2: trading lately, and these stocks are just it's the next thing.

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Speaker 2: It's the next big thing after AI, other than quantum

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Speaker 2: computing frank and and it's a trillion dollar industry, you know,

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Speaker 2: and it's being you know managed by the richest people

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Speaker 2: in the world, you know, led by Elon Musk and

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Speaker 2: Jeff Bezos and other people like that. So people need

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Speaker 2: to be on this trade for sure, because if it's exciting,

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Speaker 2: it's for real. You've had a big market correction. These

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Speaker 2: stocks have come in and it's a great oportunity to

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Speaker 2: get in and again initiate type of positions.

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Speaker 1: That is exciting. It looks like NASA's targeting tomorrow at

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Speaker 1: six twenty four Eastern for the launch of the Artemist

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Speaker 1: two mission, by the way of which is set to

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Speaker 1: send four astronauts on a ten day trip around the

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Speaker 1: Moon for the first time since the seventy So we're

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Speaker 1: going to be watching. All eyes will be at the

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Speaker 1: Kennedy Space Center in Florida. Nothing like a launch day

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Speaker 1: at the Kennedy Space Center. Having covered all the Space

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Speaker 1: Shutal launches for many, many years for the CBS or

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Speaker 1: radio network, So that's going to be an exciting day. Tomorrow,

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Speaker 1: April first, three, twenty four our time here on the

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Speaker 1: West Coast is the launch for the Artemis two mission.

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Speaker 1: At this point, Ryan Perry, we want to lift off

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Speaker 1: instead of a letdown for the stock portfolio. So any

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Speaker 1: specific places where you're putting money now into taking it

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Speaker 1: off the table.

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Speaker 2: Well, in general, Frank, I don't really know the geopolitical Uh,

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Speaker 2: you know, the headline of the day, you know, the

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Speaker 2: overnight news feed is just so so incredibly hard to call.

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Speaker 2: I think because we're coming in an earning season here,

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Speaker 2: that people, you know, take advantage of earning season here

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Speaker 2: if we get really good numbers here. But you know,

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Speaker 2: certainly look into the the latter part of April, early

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Speaker 2: part of May too to raise cash not knowing what

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Speaker 2: the midterms are going to be, because that's that's just

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Speaker 2: a it's a jump ball right now, but I do

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Speaker 2: like you know, I put on next Year Energy here,

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Speaker 2: which is forward as largest utility and EE for people

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Speaker 2: out there looking first, I'm more I'm getting more of

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Speaker 2: safe haven in here. I'm buying the Swiss Frank, which

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Speaker 2: is a foxtrot X ray foxtrot. Okay, that's the only

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Speaker 2: way you can buy the Swiss Frank because I do

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Speaker 2: think the dollar is going to come in hard after

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Speaker 2: the war effort here, and I want to be long

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Speaker 2: to Frank, which has come down about four or five

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Speaker 2: six percent, and I want to have that just as

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Speaker 2: a safe place to go. I've also been buying a

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Speaker 2: brand new company which was a spack a special purpose

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Speaker 2: Acquisition Corp, which is now called Greenland Energy g l

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Speaker 2: n D, and they it's around nine dollars a share.

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Speaker 2: They have rights to It's an exploratory company. They'll start

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Speaker 2: drilling next year, but they own all the rights and

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Speaker 2: licensing to what was Arco's largest oil field back in

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Speaker 2: nineteen seventy three, which is the size of Crudo Bay.

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Speaker 2: So if you want to have a Greenland Energy play,

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Speaker 2: then you want to be buying GLn D. Back up

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Speaker 2: the truck it's going to be I think a big

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Speaker 2: winner coming off. I've been taking fifty percent positions off

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Speaker 2: of Nokia, Broadcom, Autodesk, and KKR because I still think

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Speaker 2: that there's trouble brewing in the private credit business, even

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Speaker 2: though there's been forty five million dollars worth of inside

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Speaker 2: of buying KKR, I'm gonna say a long half of stock.

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Speaker 2: But you know, you just we're fighting some heavy, heavy

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Speaker 2: headlins here in your private credit business. So again, you've

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Speaker 2: got to be very careful in this market here. You

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Speaker 2: got to be a special uh, you've got to be

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Speaker 2: stockpicker here. I think the indexes is still going to

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Speaker 2: be under a lot of pressure here because the Max

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Speaker 2: seven dominates the indexes here and a lot of them

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Speaker 2: have a lot of technical damage. And at the same time,

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Speaker 2: you got to fed here that's going to just sit tight.

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Speaker 2: I don't think they're going to do anything with the

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Speaker 2: rates here unless you have a really bad employment number

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Speaker 2: here this Friday like we had last month, then you

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Speaker 2: may have an impetus for a lower quarter point cut

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Speaker 2: here in May as your own pal leaves his office.

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Speaker 2: So a lot going on, frank and at some interesting times.

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Speaker 1: Absolutely we didn't hit on crypto. We're gonna be talking

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Speaker 1: to Ellar Charrott is terrific on cryptos. She'll be joining

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Speaker 1: us live later the Sarabye. I know you watch cryptos. Here,

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Speaker 1: we talked to the biggest fans as well as the

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Speaker 1: harshest critics. So what are your thoughts about the crypto

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Speaker 1: moves this month?

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Speaker 2: Well, quite I got stopped out of a lot of stuff,

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Speaker 2: you know, I got stopped out of Bitcoin. I got

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Speaker 2: to stop out of a robin Hood and MSTR and

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Speaker 2: a lot of things here that just came in. You know,

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Speaker 2: you've got to have a cell discipline, you know, at

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Speaker 2: some point here, I'm willing to come back in. But

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Speaker 2: for the most part, I've got the bit minor stock still,

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Speaker 2: and I think the dm n R that's you know,

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Speaker 2: Tom Lee's a big etherium play and I think that's

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Speaker 2: the best looking situation right now in the cryptos d

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Speaker 2: m n R. And so if you know, for that purpose,

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Speaker 2: you know, I'm there, but I'm still you know, cryptos

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Speaker 2: turned out to be you know, there was a lot

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Speaker 2: of you know, what we call, you know, unstable corn

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Speaker 2: here in the last couple of weeks here, and so

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Speaker 2: that's my take on that that we have to continue

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Speaker 2: to see the rinse cycle of this bitcoin correction complete

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Speaker 2: itself before I'll come back in, you know, with a

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Speaker 2: full position.

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Speaker 1: Brian, thank you very much for taking the call here

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Speaker 1: the same afternoon. It's fantastic to speak with you again,

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Speaker 1: and hopefully you get to do this again more often

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Speaker 1: this year. Brian Perry, veteran market strategist Brian Perryinvesting dot com,

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Speaker 1: author of the twenty five percent Cash Machine. Thank you

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Speaker 1: very much for joining us live this afternoon.

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Speaker 2: Always great to be with you. Frank, thanks so very

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Speaker 2: much for having me on the show.

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Speaker 1: Thank you, Thank you very much. O Tech on Money

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Speaker 1: Continue seven ninety KABC winning ends with a losing month

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Speaker 1: of March on Wall Street. We did see the Dow

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Speaker 1: pop eleven hundred twenty five points on the plus side

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Speaker 1: today to forty six thousand and three forty one, it's

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Speaker 1: best one day gain of the year, the SMP five

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Speaker 1: hundred of one to eighty five at sixty five hundred

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Speaker 1: and twenty nine, the NASDAK of seven hundred ninety six

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Speaker 1: points at twenty one thousand and five ninety. We did

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Speaker 1: see a pretty impressive gain today, but for the month

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Speaker 1: of March, the major averages recorded their worst month since

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Speaker 1: twenty twenty two, with the SMP five hundred down five

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Speaker 1: point one percent, the Dow down five point four percent,

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Speaker 1: of the Nasdaq down four point eight percent. Of cours

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Speaker 1: gas and oil big part of the story of this month.

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Speaker 1: The price of oil is hovering above one hundred and

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Speaker 1: two dollars a barrel right now in New York and

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Speaker 1: in London, rencrewd is a moving higher as well, well

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Speaker 1: above one hundred dollars there one hundred and eighteenth and

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Speaker 1: change at more than five dollars. Today we'll take a

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Speaker 1: closer look at gas and oil prices and what's happening

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Speaker 1: in the Middle East with the run and so forth,

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Speaker 1: with top energy analyst John Kilduf from CNBC and again

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Speaker 1: Capital to be joining us live here very very shortly.

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Speaker 1: Checking the cryptos now, we see Bitcoin up about three

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Speaker 1: hundred at sixty eight thousand, one thirty five eighth, Ethereum

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Speaker 1: at two thousand, ninety three, Doze at the moment at

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Speaker 1: nine cents. Gold got a pop today at forty six

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Speaker 1: hundred and ninety four noun silver at seventy five sixty

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Speaker 1: platinum nineteen sixty three in Palladium just shy of fifteen

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Speaker 1: hundred motag of money continues seven ninety KBC our top story,

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Speaker 1: President Trump saying he's willing to end the war without

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Speaker 1: fully reopening the straight of horror, moves that sent off

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Speaker 1: a big rally on Wall Street today as consumer confidence

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Speaker 1: also unexpectedly ticked higher according to the Conference Board, despite

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Speaker 1: the fact that gas prices are rising nationwide and especially

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Speaker 1: here in southern California, with diesel at another record high

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Speaker 1: today fifty nine a gallon regular self serve regular gas

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Speaker 1: here in the Los Angeles area now averaging six dollars

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00:20:05,840 --> 00:20:08,320
Speaker 1: a gallon, and six thirty nine the average price for

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Speaker 1: premium both regular and premium, by the way, still about

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Speaker 1: fifty cents a gallon below the all time high we

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Speaker 1: saw back in twenty twenty two. Joining us live now

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Speaker 1: is veteran oil analyst John killed Up at again Capital

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Speaker 1: and CNBC contributed longtime contributor to this program. John Killop,

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Speaker 1: thank you very much for taking the call here this afternoon.

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Speaker 3: No good afternoon, Frank, Good to be with you.

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Speaker 1: Great to have you with us. John, Thanks for jumping

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Speaker 1: on the line here. Give us your reaction to the

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Speaker 1: latest news here today, Well.

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Speaker 3: I mean this continues just to be a whirlwind here

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Speaker 3: and you know, booming headlines on an hourly basis. It

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Speaker 3: seems like today was another spectacular one in terms of

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Speaker 3: the Iranians now officialdom coming out and saying that, you know,

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Speaker 3: they could see an end to the war or are

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Speaker 3: inclined to end the war, which I don't blame in

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Speaker 3: considering that it does seem like the military aspect of

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Speaker 3: this from the US and Israeli side is going just

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Speaker 3: really exceedingly well on that score. But you know, what

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Speaker 3: the world really needs here is this last shoot to drop,

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Speaker 3: which is to get some word on the strait of

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Speaker 3: horn moves, which everyone has become so familiar with because

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Speaker 3: as everyone also knows, it's responsible for, like we're twenty

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Speaker 3: million barrels of crude oil to day and other products

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Speaker 3: and commodities. But the Sadeas have stepped up and been

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Speaker 3: able to re route some of their oil to the

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Speaker 3: Red Sea, about half of their production, so now we're

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Speaker 3: down to about ten million.

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Speaker 4: Barrels a day.

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Speaker 3: That's off the market rank, but that still makes for

433
00:21:37,760 --> 00:21:41,520
Speaker 3: a energy crisis of the first order, and that's why

434
00:21:41,560 --> 00:21:44,560
Speaker 3: we're continuing to see prices sort of hang in there

435
00:21:44,560 --> 00:21:47,880
Speaker 3: at successively higher levels. Here. Even with today's good news,

436
00:21:47,880 --> 00:21:50,720
Speaker 3: we didn't break down all that much price wise, because

437
00:21:50,720 --> 00:21:53,680
Speaker 3: the damage is slowly racking up here in terms of

438
00:21:53,720 --> 00:21:55,960
Speaker 3: the lack of supply on the global market.

439
00:21:56,359 --> 00:21:58,639
Speaker 1: On there Live with John Kildef and Gun Campital and

440
00:21:58,680 --> 00:22:01,440
Speaker 1: CNBC at contributor. In the meantime, I see the price

441
00:22:01,440 --> 00:22:02,960
Speaker 1: of oil in New York is above one hundred and

442
00:22:02,960 --> 00:22:05,880
Speaker 1: two dollars a barrel at last check Brent frude oil

443
00:22:05,920 --> 00:22:07,880
Speaker 1: in London at one eighteen that where do you see

444
00:22:07,920 --> 00:22:10,880
Speaker 1: the price of oil go from here? And ps where

445
00:22:10,880 --> 00:22:12,479
Speaker 1: do you see gas prices go from here?

446
00:22:14,280 --> 00:22:16,800
Speaker 3: The crude oil price is going to unfortunately continue to

447
00:22:16,840 --> 00:22:19,439
Speaker 3: grind higher here until we get some clarity on the

448
00:22:19,480 --> 00:22:24,080
Speaker 3: situation with the straight of Hormuz, despite the Saudi efforts

449
00:22:24,080 --> 00:22:27,399
Speaker 3: and some other efforts. Again, this is an energy supply

450
00:22:27,520 --> 00:22:31,120
Speaker 3: disruption really of the first order. I can't even make

451
00:22:31,560 --> 00:22:34,719
Speaker 3: a good analogy for it. So that's going to continue

452
00:22:34,720 --> 00:22:38,359
Speaker 3: to drive prices higher. You're already seeing prices much higher

453
00:22:38,400 --> 00:22:41,640
Speaker 3: in Asia. There's supply shortages developing in several countries there,

454
00:22:41,680 --> 00:22:45,399
Speaker 3: including Japan, and they're going to come on the hunts

455
00:22:45,119 --> 00:22:48,320
Speaker 3: for supplies, Frank. That's why the US price gets dragged up.

456
00:22:48,480 --> 00:22:50,919
Speaker 3: That's why you're paying so much in California because you

457
00:22:50,960 --> 00:22:54,880
Speaker 3: guys have to compete for international supplies now because of

458
00:22:54,560 --> 00:22:59,760
Speaker 3: your refinery situation. But I'll tell you this, there's a

459
00:23:00,119 --> 00:23:02,800
Speaker 3: saying there's a trapdoor under prices, and we saw some

460
00:23:02,880 --> 00:23:06,120
Speaker 3: of that today for oil. Anyway, if we can get

461
00:23:06,119 --> 00:23:08,360
Speaker 3: a resolution, Frank, we'll be back down. But we're only

462
00:23:08,359 --> 00:23:11,040
Speaker 3: going to go back down to the low eighties, upper

463
00:23:11,080 --> 00:23:14,280
Speaker 3: seventies at this point. Again, because of these shut ins

464
00:23:14,320 --> 00:23:17,239
Speaker 3: that we're experiencing in some of the countries. They just

465
00:23:17,280 --> 00:23:20,879
Speaker 3: can't bring their fields oil feels back online very quickly.

466
00:23:20,920 --> 00:23:23,760
Speaker 3: They're very fragile. They operate under this weird sort of

467
00:23:23,960 --> 00:23:27,000
Speaker 3: pressurization system, and once you mess with the pressure, which

468
00:23:27,040 --> 00:23:30,560
Speaker 3: they had to do to stop the flow, it's not

469
00:23:30,600 --> 00:23:32,960
Speaker 3: an easy trick to get them back online. They will,

470
00:23:33,359 --> 00:23:35,720
Speaker 3: but it's going to take time, so a high, er

471
00:23:35,840 --> 00:23:38,920
Speaker 3: low and more upside until we get definitive word on

472
00:23:38,960 --> 00:23:39,840
Speaker 3: the straight of horror moves.

473
00:23:40,200 --> 00:23:42,720
Speaker 1: Certainly, missiles still flying in the Middle East of powder

474
00:23:42,840 --> 00:23:45,639
Speaker 1: Keg and I'm sure you've seen the latest headlines today,

475
00:23:45,680 --> 00:23:48,200
Speaker 1: certainly with the US hitting a large ammunition depot and

476
00:23:48,240 --> 00:23:52,800
Speaker 1: Iran with two thousand pounds bunker buster bombs, and also

477
00:23:52,880 --> 00:23:57,879
Speaker 1: a Kuwaiti oil tanker hitting near Dubai. The government of

478
00:23:57,920 --> 00:24:00,879
Speaker 1: Israel is reviewing two incidents in which three when peacekeepers

479
00:24:00,880 --> 00:24:04,160
Speaker 1: were killed in southern Lebanon and another front of the war.

480
00:24:04,200 --> 00:24:08,520
Speaker 1: We're following all these headlines very very closely. And at

481
00:24:08,520 --> 00:24:12,160
Speaker 1: this point, John Kildoff, what's what is the word among

482
00:24:12,240 --> 00:24:15,320
Speaker 1: the folks that you talked to in the oil business,

483
00:24:15,840 --> 00:24:19,360
Speaker 1: What is ultimately the expected endgame and Iran a new

484
00:24:19,359 --> 00:24:21,440
Speaker 1: regime or what's what's going to happen there?

485
00:24:22,880 --> 00:24:25,919
Speaker 3: There's definitely, Uh, the main goal is a new One

486
00:24:25,960 --> 00:24:28,320
Speaker 3: of the main goals is a new regime. Well, you know,

487
00:24:28,320 --> 00:24:31,040
Speaker 3: we're being told this situation with the Strait was a

488
00:24:31,080 --> 00:24:33,920
Speaker 3: little bit of a surprise, Uh, for the for the planners,

489
00:24:34,440 --> 00:24:36,040
Speaker 3: it was on the list to do, but it was

490
00:24:36,160 --> 00:24:38,520
Speaker 3: not on the top priority. Now is an oil guy,

491
00:24:38,560 --> 00:24:40,199
Speaker 3: I'm like, what do you mean? They weren't trying to

492
00:24:40,200 --> 00:24:42,960
Speaker 3: secure the straight from day one? But they weren't. They

493
00:24:42,960 --> 00:24:45,480
Speaker 3: were doing They're hitting these military targets, as I referenced

494
00:24:45,520 --> 00:24:48,040
Speaker 3: earlier and as you just talked about UH. Because they

495
00:24:48,040 --> 00:24:50,639
Speaker 3: want to put a Ran out of business militarily. The

496
00:24:50,680 --> 00:24:53,800
Speaker 3: Strait will follow and the oil supplies will follow, is

497
00:24:53,960 --> 00:24:58,240
Speaker 3: the idea. We are sort of two weeks into or

498
00:24:58,240 --> 00:25:00,520
Speaker 3: the midway point, I should say, in terms of this campaign.

499
00:25:00,600 --> 00:25:03,120
Speaker 3: According to the military planners, now is the time when

500
00:25:03,119 --> 00:25:05,720
Speaker 3: I should be expecting them to turn their attention to

501
00:25:05,760 --> 00:25:07,439
Speaker 3: a secure in the straight frank and we'll see how

502
00:25:07,480 --> 00:25:10,160
Speaker 3: that's done. The problem is that now with Duran being

503
00:25:10,200 --> 00:25:13,160
Speaker 3: degraded to the extent that has, they can only rely

504
00:25:13,240 --> 00:25:16,919
Speaker 3: on asymmetric sort of actions. And think about post invasion Iraq,

505
00:25:16,960 --> 00:25:19,720
Speaker 3: you know, the IEDs, the rise of ices, things like that.

506
00:25:19,880 --> 00:25:25,280
Speaker 3: They were never formidable forces against the US military, but

507
00:25:25,840 --> 00:25:29,320
Speaker 3: they could cause plenty of trouble, plenty of death. And

508
00:25:30,080 --> 00:25:33,440
Speaker 3: that's what we're seeing, even as President Trump rightly points

509
00:25:33,480 --> 00:25:36,080
Speaker 3: out that nothing's really been attacked, and not that much

510
00:25:36,119 --> 00:25:38,320
Speaker 3: has been attacked in the Strait, but nobody will go

511
00:25:38,400 --> 00:25:41,280
Speaker 3: through for fear of what might happen. And the Iranians

512
00:25:41,320 --> 00:25:44,720
Speaker 3: have just enough left in the tank pardon the punt,

513
00:25:45,040 --> 00:25:47,399
Speaker 3: to make it so that you got to think twice

514
00:25:47,480 --> 00:25:49,879
Speaker 3: or ten times before you try to run through that

515
00:25:49,960 --> 00:25:54,119
Speaker 3: straight without either coordinating with them or doing it surreptitiously

516
00:25:54,560 --> 00:25:55,440
Speaker 3: in the dark of night.

517
00:25:55,480 --> 00:25:58,600
Speaker 1: Literally, well, the Middle East getting all the attention. What's

518
00:25:58,600 --> 00:26:01,000
Speaker 1: happening here in California, on and off the coast of

519
00:26:01,040 --> 00:26:04,240
Speaker 1: California is to be noted as well. John Kiloff Sable

520
00:26:04,240 --> 00:26:08,879
Speaker 1: i'm shore has completed the restarting of a pipeline system

521
00:26:09,080 --> 00:26:12,199
Speaker 1: following an executive order from President Trump. Given the emergency

522
00:26:12,760 --> 00:26:15,880
Speaker 1: energy situation right now, A cluster of oil platforms off

523
00:26:15,920 --> 00:26:19,000
Speaker 1: the California coast reportedly now selling CREWD for the first

524
00:26:19,080 --> 00:26:22,920
Speaker 1: time in more than a decade to a Chevron refinery

525
00:26:23,000 --> 00:26:25,280
Speaker 1: near Los Angeles. Tell us what we need to know

526
00:26:25,320 --> 00:26:27,800
Speaker 1: about this, and it's just going to the move the needle.

527
00:26:27,840 --> 00:26:30,320
Speaker 1: As far as supply and prices.

528
00:26:29,960 --> 00:26:33,719
Speaker 3: Are concerned, well, in this environment, Frank, every little bit helps,

529
00:26:33,800 --> 00:26:37,600
Speaker 3: and that supply of oil Chevron will gladly take it.

530
00:26:37,800 --> 00:26:40,359
Speaker 3: I can almost promise it's not being priced at the

531
00:26:41,000 --> 00:26:43,520
Speaker 3: Asian spot market price of one hundred and seventy five

532
00:26:43,560 --> 00:26:47,679
Speaker 3: dollars a barrel, considerably lower and every little bit eases

533
00:26:47,720 --> 00:26:50,080
Speaker 3: the pressure. Just when you hear about the sprs being

534
00:26:50,119 --> 00:26:52,919
Speaker 3: released or other things, you know, we need it, and

535
00:26:52,960 --> 00:26:55,360
Speaker 3: I hope it's a reminder of folks that it's good

536
00:26:55,400 --> 00:26:57,680
Speaker 3: to have your own sources supply in your own backyard

537
00:26:58,240 --> 00:27:00,480
Speaker 3: to help out in times like this. You just don't

538
00:27:00,480 --> 00:27:02,879
Speaker 3: want to have that vulnerability. There was ever a lesson

539
00:27:02,920 --> 00:27:05,440
Speaker 3: we learned from the seventies, you know, it's that and

540
00:27:05,600 --> 00:27:07,439
Speaker 3: you know it only contributes to the US being the

541
00:27:07,440 --> 00:27:10,640
Speaker 3: world's number one oil producer, you know, really by far.

542
00:27:11,200 --> 00:27:14,440
Speaker 3: So you know, all this helps and hopefully it'll move

543
00:27:14,480 --> 00:27:16,920
Speaker 3: the needle. I hope it hits the reset button out there,

544
00:27:16,960 --> 00:27:18,960
Speaker 3: Frank and get you guys back in the game in

545
00:27:19,080 --> 00:27:22,000
Speaker 3: terms of, you know, really having a proper energy strategy

546
00:27:22,280 --> 00:27:24,640
Speaker 3: that can look to the future. You know, maybe there's

547
00:27:24,640 --> 00:27:26,679
Speaker 3: a time when we don't need some of these fossil fuels.

548
00:27:26,680 --> 00:27:29,800
Speaker 3: But right now, man, there's no doubt in my mind,

549
00:27:29,960 --> 00:27:32,879
Speaker 3: in everybody's mind, you're seeing it that it's a critical

550
00:27:33,080 --> 00:27:36,400
Speaker 3: resource for the economy and everyone's ability to just live

551
00:27:36,440 --> 00:27:40,040
Speaker 3: their daily lives. So this is it's a great little thing.

552
00:27:40,119 --> 00:27:42,480
Speaker 3: I also want to point out that that system was

553
00:27:42,520 --> 00:27:44,840
Speaker 3: offline for a good period of time. It's come back

554
00:27:45,000 --> 00:27:47,640
Speaker 3: very quickly. That's the same thing that will happen in Venezuela.

555
00:27:47,640 --> 00:27:49,719
Speaker 3: You heard a lot of naysayers out there saying, oh,

556
00:27:49,760 --> 00:27:52,480
Speaker 3: it'll years billions of dollars to get Venezuela back, and

557
00:27:52,680 --> 00:27:55,280
Speaker 3: up it won't. They're already coming back online there too,

558
00:27:55,320 --> 00:27:58,399
Speaker 3: several hundred thousand barrels a day. Chev runs racing in

559
00:27:58,440 --> 00:28:01,200
Speaker 3: there with other partners. Shell is looking at it an

560
00:28:01,200 --> 00:28:05,639
Speaker 3: excellent mobile, even after all their you know, complaints about

561
00:28:05,680 --> 00:28:08,280
Speaker 3: the situation there. They sent the team last week, so

562
00:28:09,000 --> 00:28:10,160
Speaker 3: that's coming along too.

563
00:28:10,320 --> 00:28:12,200
Speaker 1: John, Thank you very much for taking the call. Wish

564
00:28:12,240 --> 00:28:14,560
Speaker 1: we had more time, but let's keep an open line

565
00:28:14,600 --> 00:28:17,280
Speaker 1: here to you and follow all this closely, John Kilduff,

566
00:28:17,280 --> 00:28:20,040
Speaker 1: Oil analysts and again Capital and CNBC contributor will be

567
00:28:20,040 --> 00:28:22,080
Speaker 1: watching for your coverage there, John, and look forward to

568
00:28:22,119 --> 00:28:24,240
Speaker 1: our next conversation here. Thank you very much for joining

569
00:28:24,320 --> 00:28:24,760
Speaker 1: us live.

570
00:28:24,600 --> 00:28:28,000
Speaker 3: Here this afternoon, my pleasure, Frank, thank you, thanks very much.

571
00:28:28,040 --> 00:28:31,720
Speaker 1: Seven ninety KBC. No attack of Money continues. Seven ninety KBC.

572
00:28:31,960 --> 00:28:35,040
Speaker 1: Big finish to an otherwise losing month on Wall Street.

573
00:28:35,440 --> 00:28:37,399
Speaker 1: The now coming in for a closing game today of

574
00:28:37,440 --> 00:28:40,600
Speaker 1: eleven hundred twenty five points back to forty six thousand

575
00:28:40,600 --> 00:28:43,240
Speaker 1: and three forty one the biggest one day jump for

576
00:28:43,280 --> 00:28:45,080
Speaker 1: the Dow so far this year, the S and P

577
00:28:45,240 --> 00:28:47,479
Speaker 1: five hundred of one to eighty five, the NASDAG up

578
00:28:47,480 --> 00:28:50,680
Speaker 1: seven hundred and ninety six points. All the major overages

579
00:28:50,680 --> 00:28:53,680
Speaker 1: did pull back for the month. Crypto saw a wild month.

580
00:28:53,760 --> 00:28:55,760
Speaker 1: Bitcoin had a bit of a bounce today right now,

581
00:28:55,760 --> 00:28:58,960
Speaker 1: harvering just above sixty eight thousand ethereum just shi have

582
00:28:59,040 --> 00:29:02,520
Speaker 1: twenty one hundred doze at the moment at nine cents.

583
00:29:03,000 --> 00:29:06,400
Speaker 1: Tracking the cryptos closely joining us live now is broadcast

584
00:29:06,880 --> 00:29:10,000
Speaker 1: business journalist Eleanor Terrett, business journalist and host of the

585
00:29:10,080 --> 00:29:12,800
Speaker 1: Crypto and America podcast, Elarn. Thank you very much for

586
00:29:12,840 --> 00:29:14,160
Speaker 1: taking the call here this afternoon.

587
00:29:15,360 --> 00:29:16,880
Speaker 4: Thank you, Frank, get to be back with you.

588
00:29:17,120 --> 00:29:19,200
Speaker 1: Wonderful to have you with us to wrap up the

589
00:29:19,240 --> 00:29:22,160
Speaker 1: month of March and what was a wild month for

590
00:29:22,400 --> 00:29:26,160
Speaker 1: the cryptos. Kind of a rough month right for Bitcoin,

591
00:29:26,360 --> 00:29:27,640
Speaker 1: dipping back into the sixties.

592
00:29:27,680 --> 00:29:27,840
Speaker 5: Here.

593
00:29:28,120 --> 00:29:30,719
Speaker 1: Give us your assessment of what happened in the crypto

594
00:29:30,840 --> 00:29:31,680
Speaker 1: land this month.

595
00:29:33,000 --> 00:29:35,680
Speaker 4: That's right, well, you mentioned it up slightly just now.

596
00:29:35,760 --> 00:29:39,040
Speaker 5: Crypto does not have a closing bell or an opening bell,

597
00:29:39,080 --> 00:29:41,640
Speaker 5: so it trades twenty four to seven. So sometimes we

598
00:29:41,680 --> 00:29:44,120
Speaker 5: see that green turn into red and red to green

599
00:29:44,240 --> 00:29:47,240
Speaker 5: rather rapidly, so with just hours left in the month

600
00:29:47,880 --> 00:29:51,400
Speaker 5: of March, Frank Bitcoin is up slightly, but it's down

601
00:29:51,520 --> 00:29:53,840
Speaker 5: one percent for the month, and it's actually on track

602
00:29:53,880 --> 00:29:57,240
Speaker 5: for its six straight monthly loss, and that's something we've

603
00:29:57,280 --> 00:30:00,480
Speaker 5: only seen once before according to traders, between All twenty

604
00:30:00,480 --> 00:30:02,840
Speaker 5: eighteen and January twenty nineteen.

605
00:30:02,880 --> 00:30:04,400
Speaker 4: That's according to traders with.

606
00:30:04,520 --> 00:30:09,080
Speaker 5: Quin Glass data, and that's apparently pretty unusual according to

607
00:30:09,080 --> 00:30:11,320
Speaker 5: them anyway. But let's zoom out, and it's been a

608
00:30:11,320 --> 00:30:13,840
Speaker 5: bit of a tough stretch. Like I mentioned, bitcoin is

609
00:30:13,840 --> 00:30:16,880
Speaker 5: down roughly twenty two percent this quarter after a twenty

610
00:30:16,960 --> 00:30:19,840
Speaker 5: five percent drop late last year. If you remember, it

611
00:30:19,920 --> 00:30:23,960
Speaker 5: hit highes off over one hundred and twenty thousand in October,

612
00:30:24,200 --> 00:30:27,440
Speaker 5: and it's been underperforming the stock market they broader public

613
00:30:27,520 --> 00:30:30,760
Speaker 5: equity markets for nearly six months, and traders also tell

614
00:30:30,800 --> 00:30:31,840
Speaker 5: me that that's pretty.

615
00:30:31,640 --> 00:30:33,080
Speaker 4: Unusual in and of itself as well.

616
00:30:33,080 --> 00:30:36,560
Speaker 5: And it's not just Bitcoin. Ethereum has also struggled overall.

617
00:30:36,720 --> 00:30:38,720
Speaker 5: But behind the scenes, there are some major players that

618
00:30:38,760 --> 00:30:43,120
Speaker 5: are still buying bitcoin. Our friend chairman Tom Lee, who

619
00:30:43,240 --> 00:30:45,920
Speaker 5: is the he's ever at fun Strat. He's also the

620
00:30:46,000 --> 00:30:48,960
Speaker 5: chairman of bitmind. He now holds about ten billion dollars

621
00:30:49,000 --> 00:30:51,320
Speaker 5: worth of ethereum. He just keeps on buying us roughly

622
00:30:51,440 --> 00:30:55,240
Speaker 5: four percent of Ethereum's total supply. At the same time, though,

623
00:30:55,240 --> 00:30:57,880
Speaker 5: there's a question mark around one of bitcoin's biggest buyers,

624
00:30:57,960 --> 00:31:00,920
Speaker 5: micro Strategy. That's Michael Saylor with out the chairman of

625
00:31:00,960 --> 00:31:02,680
Speaker 5: MicroStrategy also known as Strategy.

626
00:31:02,720 --> 00:31:04,360
Speaker 4: Now the company may have.

627
00:31:04,360 --> 00:31:07,520
Speaker 5: Caused its weekly bitcoin purchases for the first time in months,

628
00:31:07,520 --> 00:31:11,480
Speaker 5: potentially snapping a thirteen week buying streak. Usually Michael Saylor

629
00:31:11,520 --> 00:31:13,160
Speaker 5: comes out on a Monday morning and says that he

630
00:31:13,200 --> 00:31:16,040
Speaker 5: is buying more bitcoin. Usually on Sundays, he hints that

631
00:31:16,360 --> 00:31:18,560
Speaker 5: he will be buying more bitcoin on a Monday, but

632
00:31:18,640 --> 00:31:20,640
Speaker 5: he did not do that for the first time in quite.

633
00:31:20,440 --> 00:31:21,240
Speaker 4: A few weeks today.

634
00:31:21,520 --> 00:31:24,840
Speaker 5: See, you've got this interesting split institutional accumulation in some

635
00:31:25,000 --> 00:31:29,160
Speaker 5: areas and some hesitation in other areas as well. But

636
00:31:29,240 --> 00:31:31,440
Speaker 5: for now, frank crypto is trading a bit like a

637
00:31:31,520 --> 00:31:32,240
Speaker 5: risk asset.

638
00:31:32,600 --> 00:31:33,960
Speaker 4: It's tied to some of that.

639
00:31:33,920 --> 00:31:37,320
Speaker 5: Geopolitical tensions we're seeing with the war in Iran, oil

640
00:31:37,400 --> 00:31:40,600
Speaker 5: prices and interest rates as well. One analyst is calling

641
00:31:40,640 --> 00:31:43,520
Speaker 5: bitcoin a coiled spring and is saying a setup for

642
00:31:43,560 --> 00:31:46,640
Speaker 5: a rebound might be there, but the timing is still uncertain,

643
00:31:47,080 --> 00:31:48,840
Speaker 5: as it always is with crypto.

644
00:31:49,440 --> 00:31:52,000
Speaker 1: That is very interesting what you just reported about Michael

645
00:31:52,040 --> 00:31:54,560
Speaker 1: Saylor and the strategy of the stock. I see a

646
00:31:54,600 --> 00:31:57,320
Speaker 1: Strategy shares today closer more than three dollars at one

647
00:31:57,360 --> 00:32:00,000
Speaker 1: twenty four in change. Have you heard anything more about

648
00:32:00,000 --> 00:32:02,800
Speaker 1: about what Michael Sailor had to say, if anything, since

649
00:32:02,840 --> 00:32:05,920
Speaker 1: he he didn't buy this week, as you said, what's

650
00:32:05,960 --> 00:32:06,280
Speaker 1: going on?

651
00:32:06,320 --> 00:32:12,320
Speaker 5: There No nothing from Michael directly, I believe I'm going

652
00:32:12,400 --> 00:32:16,480
Speaker 5: to check his Twitter account right now. Usually he's pretty

653
00:32:16,520 --> 00:32:20,840
Speaker 5: vocal about these things, but yeah, no nothing.

654
00:32:21,160 --> 00:32:23,960
Speaker 4: He's posted a meme of himself.

655
00:32:23,560 --> 00:32:26,360
Speaker 5: An AI memes stretcher income a little further with the

656
00:32:26,400 --> 00:32:30,000
Speaker 5: Strategy ticker that was about eleven hours ago, and he's

657
00:32:30,000 --> 00:32:33,160
Speaker 5: wearing a fedora and an orange vest. But apart from that,

658
00:32:33,280 --> 00:32:36,400
Speaker 5: no comment on what may or may not be going

659
00:32:36,440 --> 00:32:37,480
Speaker 5: on behind.

660
00:32:37,200 --> 00:32:39,360
Speaker 4: The scenes with the buying of bitcoin.

661
00:32:39,440 --> 00:32:42,719
Speaker 5: But you know, he has been a solid accumulator of

662
00:32:42,760 --> 00:32:46,040
Speaker 5: bitcoin for weeks and months on end on end now,

663
00:32:46,120 --> 00:32:49,200
Speaker 5: so whether this is just a one off or maybe

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00:32:49,200 --> 00:32:51,280
Speaker 5: a shift in his strategy.

665
00:32:50,800 --> 00:32:52,880
Speaker 4: As it were, Frank, we'll have to see what next.

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00:32:52,800 --> 00:32:57,640
Speaker 1: Week brings interesting. Obviously, reports strategy pushes the pause button,

667
00:32:57,720 --> 00:33:01,920
Speaker 1: as one outlet reported on the bitcoin approaches and stock sales,

668
00:33:02,000 --> 00:33:05,560
Speaker 1: So that is interesting marketing. It's first pause in thirteen weeks,

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00:33:05,560 --> 00:33:08,440
Speaker 1: according to a filing with the securities in an exchange commission.

670
00:33:08,480 --> 00:33:11,280
Speaker 1: So thank you for bringing that to our attention here.

671
00:33:11,280 --> 00:33:14,280
Speaker 1: We'll keep an eye on that. And bitmind Immersion, that's

672
00:33:14,320 --> 00:33:18,080
Speaker 1: the one that you mentioned with the other guy Thomas

673
00:33:18,120 --> 00:33:21,480
Speaker 1: Lee who's heavy into ethereum. Any anything like that going

674
00:33:21,520 --> 00:33:23,040
Speaker 1: on at bitmind Immersion.

675
00:33:24,680 --> 00:33:27,880
Speaker 5: Yes, well, well Tomley just keeps accumulating, right. He is

676
00:33:28,000 --> 00:33:31,360
Speaker 5: always up for buying more and more theoreum. He went

677
00:33:31,440 --> 00:33:35,160
Speaker 5: on CNBC today and he said, you know, we're ninety

678
00:33:35,200 --> 00:33:37,400
Speaker 5: to ninety five percent through the selloff. He said, I'd

679
00:33:37,400 --> 00:33:41,560
Speaker 5: buy the market today. You know, he's always very very bullish,

680
00:33:41,600 --> 00:33:44,280
Speaker 5: I think on you know, whether the crypto market is down,

681
00:33:44,320 --> 00:33:45,000
Speaker 5: whether it's up.

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00:33:45,120 --> 00:33:47,280
Speaker 4: He seems to always want to be buying ethereum.

683
00:33:47,360 --> 00:33:50,280
Speaker 5: And I mentioned a pretty interesting stat in my report

684
00:33:50,400 --> 00:33:53,560
Speaker 5: just now that he actually owns roughly four percent of

685
00:33:53,600 --> 00:33:56,640
Speaker 5: the total supply of ethereum and circulation right now. So

686
00:33:56,680 --> 00:33:59,840
Speaker 5: that's a that's a not a not significant number. Drink.

687
00:34:00,160 --> 00:34:04,680
Speaker 1: Very interesting. You've covered the space thoroughly and expertly. What

688
00:34:04,760 --> 00:34:07,440
Speaker 1: else is happening with this bitcoin bond? What do we

689
00:34:07,480 --> 00:34:09,560
Speaker 1: need to know about that? And anything else on your

690
00:34:09,600 --> 00:34:10,200
Speaker 1: radar screen?

691
00:34:11,239 --> 00:34:13,439
Speaker 5: Yeah, so an interesting move out of New Hampshire today

692
00:34:13,440 --> 00:34:15,799
Speaker 5: a state agency is preparing to issue what looks like

693
00:34:15,840 --> 00:34:19,360
Speaker 5: the first ever bomb backs by bitcoin, and it's actually

694
00:34:19,360 --> 00:34:22,840
Speaker 5: been rated by Moody's. So it's not normally that bonds

695
00:34:22,880 --> 00:34:25,279
Speaker 5: are backed by things like tax revenue.

696
00:34:25,000 --> 00:34:27,600
Speaker 4: Or business income, but in this case it's actually backed

697
00:34:27,600 --> 00:34:28,240
Speaker 4: by bitcoin.

698
00:34:28,320 --> 00:34:30,439
Speaker 5: You know, usually things are backed by things that are

699
00:34:30,640 --> 00:34:34,120
Speaker 5: a little bit more tangential, right, but bitcoins, you know,

700
00:34:34,280 --> 00:34:36,719
Speaker 5: as everybody likes to point out, bitcoin isn't actually backed

701
00:34:36,719 --> 00:34:37,240
Speaker 5: by anything.

702
00:34:37,280 --> 00:34:38,320
Speaker 4: It's a digital asset.

703
00:34:38,920 --> 00:34:41,960
Speaker 5: But in this case, bitcoin gets sold to pay investors.

704
00:34:42,080 --> 00:34:44,279
Speaker 5: And it's an important point here that tax payers are

705
00:34:44,280 --> 00:34:45,279
Speaker 5: actually not on the.

706
00:34:45,200 --> 00:34:46,320
Speaker 4: Hook for this bond.

707
00:34:46,640 --> 00:34:49,640
Speaker 5: The state isn't guaranteeing anything. It's actually just acting as

708
00:34:49,680 --> 00:34:53,000
Speaker 5: a middleman. The bond is rated below investment grade, mostly

709
00:34:53,000 --> 00:34:56,040
Speaker 5: because bitcoin could be so volatile, as we know, Frank

710
00:34:56,080 --> 00:34:58,439
Speaker 5: with a bigger picture really is that crypto is starting

711
00:34:58,480 --> 00:35:01,320
Speaker 5: to show up in more traditional parts of the financial system.

712
00:35:01,640 --> 00:35:04,080
Speaker 5: It's not just trading, it's not just speculative. It's actually

713
00:35:04,120 --> 00:35:08,080
Speaker 5: going to back traditional parts of the financial ecosystem. And

714
00:35:08,120 --> 00:35:10,160
Speaker 5: this is just another example of that shift here.

715
00:35:10,560 --> 00:35:14,840
Speaker 1: Very interesting. Anything else on the regulatory front, any legislation.

716
00:35:15,160 --> 00:35:17,000
Speaker 1: I guess there are still a couple of big bills,

717
00:35:17,080 --> 00:35:20,000
Speaker 1: or at least one big bill still hanging in suspension

718
00:35:20,160 --> 00:35:22,399
Speaker 1: in Washington. Can you give us an update on what's

719
00:35:22,400 --> 00:35:24,080
Speaker 1: happening one.

720
00:35:23,920 --> 00:35:27,319
Speaker 5: Big bill in suspension, that's the Clarity Act, and lawmakers

721
00:35:27,400 --> 00:35:29,239
Speaker 5: might be out on their Easter break for two weeks,

722
00:35:29,280 --> 00:35:32,040
Speaker 5: but actually there's still a movement behind the scenes on

723
00:35:32,080 --> 00:35:32,760
Speaker 5: some of those.

724
00:35:32,640 --> 00:35:34,800
Speaker 4: Key pieces of that legislation.

725
00:35:34,880 --> 00:35:37,359
Speaker 5: It's kind of been broken down into little bits being

726
00:35:37,360 --> 00:35:38,440
Speaker 5: worked on behind the scenes.

727
00:35:38,480 --> 00:35:40,400
Speaker 4: It's a large, large piece of legislation.

728
00:35:40,480 --> 00:35:43,120
Speaker 5: And something that's been in the headlines recently is how

729
00:35:43,440 --> 00:35:46,120
Speaker 5: the crypto industry and the banking industry are going to

730
00:35:46,360 --> 00:35:49,080
Speaker 5: come together to come to a compromise or maybe not

731
00:35:49,120 --> 00:35:52,320
Speaker 5: a compromise, maybe some kind of you know, hostile agreement

732
00:35:52,480 --> 00:35:56,080
Speaker 5: over stable coinial basically whether companies can offer interest like

733
00:35:56,160 --> 00:35:59,200
Speaker 5: returns on dollar backed digital tokens.

734
00:35:59,520 --> 00:36:01,959
Speaker 4: Some industr and banking group's got an early look at.

735
00:36:01,840 --> 00:36:05,399
Speaker 5: The proposal language last week, and the reaction has been

736
00:36:05,520 --> 00:36:10,200
Speaker 5: pretty volatile, especially online, has been pretty negative. We are

737
00:36:10,239 --> 00:36:13,400
Speaker 5: hearing that there's been a compromise between some interested parties

738
00:36:13,480 --> 00:36:17,280
Speaker 5: like Stripe and coinbase, though, and that that that issue

739
00:36:17,280 --> 00:36:20,759
Speaker 5: specifically has been wrapped up and you know, could be

740
00:36:20,880 --> 00:36:24,839
Speaker 5: moving forward. I think Senate Banking Committee has has targeted

741
00:36:24,920 --> 00:36:29,640
Speaker 5: a markup out of the committee in the second, sorry,

742
00:36:29,800 --> 00:36:32,680
Speaker 5: third to fourth week of April when they returned. It's

743
00:36:32,719 --> 00:36:35,160
Speaker 5: just another step in this long process.

744
00:36:35,239 --> 00:36:35,520
Speaker 4: Frank.

745
00:36:35,560 --> 00:36:37,799
Speaker 5: You know, a year ago, almost a year ago, you

746
00:36:37,800 --> 00:36:40,839
Speaker 5: and I were talking about some other key legislation being

747
00:36:40,880 --> 00:36:43,279
Speaker 5: moved out of Congress. The Clarity Act was one of

748
00:36:43,280 --> 00:36:44,279
Speaker 5: those that passed the House.

749
00:36:44,640 --> 00:36:46,600
Speaker 4: It is still stuck in the Senate.

750
00:36:46,680 --> 00:36:48,279
Speaker 5: So once it passes the Senate, it needs to go

751
00:36:48,360 --> 00:36:49,680
Speaker 5: back to the House and then it can go to

752
00:36:49,719 --> 00:36:52,480
Speaker 5: President Trump's desk. But it's just another example of how

753
00:36:52,520 --> 00:36:55,680
Speaker 5: long legislation can take, and with interested parties like crypto

754
00:36:55,760 --> 00:36:58,360
Speaker 5: and banks fighting over little things in the bill that

755
00:36:58,360 --> 00:37:00,640
Speaker 5: they're not satisfied with, it takes a lot lot longer.

756
00:37:01,000 --> 00:37:03,799
Speaker 1: All right, just about thirty seconds left here. You tend

757
00:37:03,840 --> 00:37:08,240
Speaker 1: all those big conferences. What's the mode on crypto nowadays?

758
00:37:08,239 --> 00:37:10,319
Speaker 5: Oh, the mood you know, it kind of varies as

759
00:37:10,320 --> 00:37:12,400
Speaker 5: the market. If I'm honest with you, Frank it's it.

760
00:37:13,000 --> 00:37:16,200
Speaker 5: You know, someone's portfolio is down. People are not as

761
00:37:16,200 --> 00:37:18,279
Speaker 5: happy as they usually are when it's up. But with

762
00:37:18,360 --> 00:37:20,680
Speaker 5: the institutions coming in now, I was at Digital Asset

763
00:37:20,680 --> 00:37:23,960
Speaker 5: summits last week that that's a block porks event. Lots

764
00:37:23,960 --> 00:37:27,640
Speaker 5: of institutional partnerships going on. Franklin Templeton is bringing their

765
00:37:27,880 --> 00:37:30,840
Speaker 5: ETFs onto the blockchain now, so that was a big announcement.

766
00:37:31,440 --> 00:37:33,760
Speaker 5: The suits are here, as they like to say in crypto,

767
00:37:33,800 --> 00:37:36,200
Speaker 5: frank the institutions are here and they're not going anywhere.

768
00:37:36,280 --> 00:37:38,480
Speaker 5: So that's the next big narrative in crypto and we'll

769
00:37:38,560 --> 00:37:39,640
Speaker 5: keep an eye on it here for you.

770
00:37:39,719 --> 00:37:41,919
Speaker 1: That's wonderful, ellenor thank you very much, Eleanor to shared

771
00:37:41,960 --> 00:37:44,080
Speaker 1: business journalists and co hosts of the Crypto and America

772
00:37:44,160 --> 00:37:47,239
Speaker 1: podcast Live with us here on motec on Money seven

773
00:37:47,360 --> 00:37:49,560
Speaker 1: ninety KBC, Los Angeles, California,