WEBVTT - Trump Davos Address, US Jobless Claims

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News. You're listening to the

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<v Speaker 2>That was President Trump speaking virtually to the crowd at

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<v Speaker 2>Davos in the World Economic for Borger Brende, He's a

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<v Speaker 2>president of the World Economic Form. Kind of moderating that.

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<v Speaker 2>Brian Mornihan, Bank of America, Blackstone, Stephen Schwartzman, Vaco Santander's

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<v Speaker 2>on a boutein and total Energies. Patrick Puyan po any,

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<v Speaker 2>thank you very much asking questions. So we kind of

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<v Speaker 2>spirited back and forth there. Let's get a little bit

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<v Speaker 2>of a breakdown kind of what we just heard over

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<v Speaker 2>the last forty five fifty minutes. We can do that

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<v Speaker 2>with Nick Wadams. He is a US national security reporter

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<v Speaker 2>for Bloomberg News based down in Washington, DC. Nick, anything

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<v Speaker 2>new for you in President Trump's.

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<v Speaker 3>Remarks, Well, to me, what you just saw there was

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<v Speaker 3>a president who was in almost complete control, I mean

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<v Speaker 3>a just an extraordinary moment. The amount of deference from

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<v Speaker 3>these titans of industry from around the globe, essentially giving

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<v Speaker 3>the President everything he wants. I mean, Brian and Brian moynihan,

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<v Speaker 3>they're dodging. The President criticizes Bank of America for allegedly

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<v Speaker 3>not banking conservatives, and Brian moynihan just kind of takes

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<v Speaker 3>it and says, thank you, and hey, we're getting ready

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<v Speaker 3>to sponsor the Olympics. Trump demands OPEC lower prices, increased output.

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<v Speaker 3>He tells everybody, listen, if you want to build in

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<v Speaker 3>the US, that's great. Otherwise we're going to tear a few.

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<v Speaker 3>And the response is essentially applause. So an extraordinary, extraordinary

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<v Speaker 3>dynamic where you just sort of see the degree to

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<v Speaker 3>which global the real power players who are all collected

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<v Speaker 3>in Davos there are giving him an extraordinary amount of deference.

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<v Speaker 4>We were talking to Nathan dena Bloomberg Intelligence before about

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<v Speaker 4>last two hours and said that he was looking for

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<v Speaker 4>the confrontational or negotiator President Trump if we parse him

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<v Speaker 4>in those ways, which Trump did you just see?

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<v Speaker 3>I mean, sounded pretty confrontational to me, essentially saying listen,

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<v Speaker 3>if you don't build here, we're going to Jack Tariff's

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<v Speaker 3>up on all of you. He criticized the EU. He

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<v Speaker 3>takes a quick shot at Bank of America. He goes

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<v Speaker 3>after Opek. He also tells a story which is not

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<v Speaker 3>one hundred percent true on the issue of denuclearization that

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<v Speaker 3>part at the end, talks with Russia and especially China

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<v Speaker 3>were essentially at a standstill at the end of his

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<v Speaker 3>first administration on the idea of denuclearization. So very much

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<v Speaker 3>in keeping with the president where he is obviously in

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<v Speaker 3>his MILU feels very comfortable but has no qualms about

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<v Speaker 3>being extremely confrontational, presumably in part because he knows the

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<v Speaker 3>response he's going to get, which is essentially applause and

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<v Speaker 3>in some cases a little bit of awkward laughter. But

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<v Speaker 3>there at the end a hope that he'll come in

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<v Speaker 3>person next year.

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<v Speaker 2>Nick. A lot of questions on Ukraine and the ability

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<v Speaker 2>of the US to play a role in ending that conflict.

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<v Speaker 5>Here, what's the.

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<v Speaker 2>Feeling within your realm national security about the role the

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<v Speaker 2>US can play, and maybe the timing associated with him.

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<v Speaker 3>Well, the timing is obviously quite unclear. The President had

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<v Speaker 3>said before he came into office that this was something

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<v Speaker 3>he was going to be able to do to solve

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<v Speaker 3>before inauguration day or within twenty four hours. That obviously

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<v Speaker 3>hasn't happened. What we've understood is that officials within the

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<v Speaker 3>administration are recognizing the enormity of the task and that

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<v Speaker 3>it may take some time. And that was one element

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<v Speaker 3>I thought was quite interesting from President Trump where he

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<v Speaker 3>essentially said, there, listen, this is something that is the

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<v Speaker 3>ball is in President Putin's court, you know, saying Ukraine

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<v Speaker 3>is ready to come to the table, so he can

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<v Speaker 3>act very much as a point of leverage and a

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<v Speaker 3>pressure point. But whereas before the inauguration there was a

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<v Speaker 3>lot of focus on Ukraine and his transition team saying

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<v Speaker 3>really that Ukraine needed to come to the table, they're

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<v Speaker 3>now really trying to put the pressure on Vladimir Putin.

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<v Speaker 3>So though he's essentially saying he wants to talk to Putin,

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<v Speaker 3>he respects him. I did see some more pressure there

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<v Speaker 3>that this is really in Russia's court to kickstart the negotiations,

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<v Speaker 3>but in terms of timing, they're really not willing to

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<v Speaker 3>say at this point.

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<v Speaker 4>I was really struck by how much energy took center stage.

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<v Speaker 4>I mean, clearly total CEO is there. So that was

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<v Speaker 4>definitely part of it. But there were some clear statements made.

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<v Speaker 4>He will make sure that Europe gets US L and G.

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<v Speaker 4>He talked about coal. He did say clean coal, but

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<v Speaker 4>that that was going to be a backup for generation

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<v Speaker 4>Peabody Energy, which is a coal producer, spiking on that news.

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<v Speaker 4>Europeans hate coal, So that was like something that was

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<v Speaker 4>a pretty interesting moment in your world. Nick, how much

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<v Speaker 4>of an energy analyst do you have to become if

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<v Speaker 4>you're national security and now you have President Trump in office.

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<v Speaker 3>I would say that's going to be a huge priority

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<v Speaker 3>for all of us going forward. I mean, you know,

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<v Speaker 3>in some ways, it's really no surprise the president is

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<v Speaker 3>essentially repeating elements, sometimes word for word, of his campaign speech.

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<v Speaker 3>I don't think he mentioned his dislike for windmills there,

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<v Speaker 3>but he has taken a bunch of actions already to

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<v Speaker 3>essentially try to steer US energy production away from renewables.

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<v Speaker 3>You know, this really is at the center of his

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<v Speaker 3>campaign and his ethos, that he believes the US needs

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<v Speaker 3>to increase energy production, and it really speaks to his

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<v Speaker 3>sense of what the US role is in the world

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<v Speaker 3>as a provider of energy to other countries. He really

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<v Speaker 3>sees it as as a point of leverage for the

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<v Speaker 3>United States, and that's something he's going to double down on,

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<v Speaker 3>you can be certain in the years to come.

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<v Speaker 2>And Nick Nac. Surprisingly, President Trump also brought up the

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<v Speaker 2>issue of immigration, illegal immigration in the United States and

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<v Speaker 2>perhaps deportations. What do we know at this early stage

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<v Speaker 2>about the plans of this administration to implement maybe some

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<v Speaker 2>deportation measures to what except will National Guard or even

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<v Speaker 2>active duty troops be involved, if at all.

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<v Speaker 3>Well, the US is in the process of deploying about

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<v Speaker 3>fifteen hundred troops to the border, though it's unclear what

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<v Speaker 3>exactly their role will be. The President has also sought

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<v Speaker 3>to give more authority to various government agents around the country,

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<v Speaker 3>and we do have reports coming in that some of

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<v Speaker 3>those arrests and have basically already started, So I mean,

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<v Speaker 3>he is absolutely determined to do this. We've heard today

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<v Speaker 3>that Secretary of State Mark Rubio is in fact going

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<v Speaker 3>to be going to several Central American countries in his

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<v Speaker 3>first trip. And the point there really is to have

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<v Speaker 3>conversations and say, listen, okay, we want to kick these

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<v Speaker 3>people out. They have to go someplace, they have to

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<v Speaker 3>have a place to go. The planes need to fly somewhere,

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<v Speaker 3>So where is that going to be a lot of

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<v Speaker 3>focus right now on El Salvador, Guatemala, obviously, but this

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<v Speaker 3>is one of the top two or three priorities for

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<v Speaker 3>this administration, proceeding with those deportations and finding places that

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<v Speaker 3>will receive those people. So negotiations are fully underway on

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<v Speaker 3>that score.

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<v Speaker 2>All right, Nick, thank you so much. We appreciate that.

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<v Speaker 2>Nick Wadams, US National Security team leader for Bloomberg News,

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<v Speaker 2>just give us a little recap of the comments we

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<v Speaker 2>heard from President Trump, who spoke virtually to the audience

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<v Speaker 2>at the World Economic Forum in Davost.

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<v Speaker 1>You're listening to the Bloomberg Intelligence Podcast. Catch the program

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<v Speaker 1>live weekdays at ten am Eastern on Applecarplay and Android

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<v Speaker 1>Auto with the Bloomberg This Up. You can also listen

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<v Speaker 1>live on Amazon Alexa from our flagship New York station

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<v Speaker 1>Just Say Alexa played Bloomberg eleven thirty.

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<v Speaker 4>Now, speaking of we had initial jobless claims, the continuing

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<v Speaker 4>claims rising to I think it was like a three

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<v Speaker 4>month high, but that's going to be distorted quite a

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<v Speaker 4>lot by those LA wildfires. So Michael McKee is joining

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<v Speaker 4>us Boomberg International Economics and Policy correspondent, How did the

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<v Speaker 4>do we know how the LA fires have now affected

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<v Speaker 4>the readings for jabas claims?

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<v Speaker 5>Well, we have a rough idea. The number for California

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<v Speaker 5>jobas claims last week was up by seven thousand, which

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<v Speaker 5>doesn't seem like a lot. But the week before which

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<v Speaker 5>the fires were in that week as well were up

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<v Speaker 5>by thirteen thousand, So you've got a number of people

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<v Speaker 5>who have contributed to this slight rise we've seen in

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<v Speaker 5>initial jobs claims slide. It's two twenty three, up from

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<v Speaker 5>two seventeen, and most states saw declines. Now we're in

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<v Speaker 5>the holiday distortion period as well, so it's hard to

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<v Speaker 5>get a clear read on what all this means. You

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<v Speaker 5>reference the continuing claims up to one million, eight hundred

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<v Speaker 5>ninety nine thousand. That's getting a little bit of a

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<v Speaker 5>boost from the California fires because the people who that

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<v Speaker 5>thirteen thousand who filed two weeks ago are still on

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<v Speaker 5>the rolls. But what that's kind of telling us is

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<v Speaker 5>something also that we already knew that companies they may

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<v Speaker 5>not be letting people go, but they're not hiring either.

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<v Speaker 2>We're going to hear from President Trump's speech virtual speech

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<v Speaker 2>in Davos and just about a half an hour as

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<v Speaker 2>per schedule, expecting economic topics to be discussed from the President.

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<v Speaker 4>Well, you know, it is the World Economics, it is

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<v Speaker 4>the World Economic Forum, but it is Donald Trump.

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<v Speaker 5>So it's really hard to know exactly what he's going

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<v Speaker 5>to say. But you can bet that the audience of

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<v Speaker 5>CEOs is going to be sitting there anxiously awaiting to

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<v Speaker 5>see if he might say something about tariffs. That's from

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<v Speaker 5>what I can glean of the Davos coverage, that seems

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<v Speaker 5>to be the number one concern of people in Davos.

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<v Speaker 5>They're also looking for more talk about deregulation because they

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<v Speaker 5>feel that's an important thing for them, and so those

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<v Speaker 5>two would be the subjects I think would get the

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<v Speaker 5>most attention from the audience.

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<v Speaker 4>What are you working on right now at your desk?

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<v Speaker 4>So here's the thing with Mike. He'll sit at his

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<v Speaker 4>desk and he'll tinker. He'll read the most random reports.

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<v Speaker 4>Then he'll make all these tie ins and link the

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<v Speaker 4>nice theses together and I'll send it to me and

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<v Speaker 4>be like, look at this, and then we'll talk about

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<v Speaker 4>it on an email. What are you going to send

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<v Speaker 4>me in like an hour.

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<v Speaker 5>Well, I've been putting together a couple of things today.

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<v Speaker 5>I'm looking at the overall change in auto imports from

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<v Speaker 5>Canada and Mexico since the USMCA, the replacement for NAFTA

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<v Speaker 5>came in to be, which was July first in twenty twenty,

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<v Speaker 5>and you can see it's it's quite interesting the trade

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<v Speaker 5>balance between the countries. Our trade deficit widened with Mexico

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<v Speaker 5>and Canada Mexico somewhat significantly, but at the same time,

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<v Speaker 5>over that period, the trade balance with China shrink So

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<v Speaker 5>you know, it's still too big for Donald Trump's liking,

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<v Speaker 5>obviously from what he says. But what we're seeing in

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<v Speaker 5>terms of the cross border Canada Mexico stuff is that

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<v Speaker 5>you know, we're importing more things from them.

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<v Speaker 2>Is that the friend shoring impact? Do you think a

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<v Speaker 2>little bit?

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<v Speaker 5>A lot of that's the friend shoring impact and the

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<v Speaker 5>fact that wages and costs so much lower in Mexico.

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<v Speaker 5>So with a free trade agreement, it's been easy for companies,

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<v Speaker 5>particularly auto companies, to move production to Mexico and then

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<v Speaker 5>just import those cars because it doesn't cost them anything.

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<v Speaker 4>So oil, our biggest importer of oil is Canada. They

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<v Speaker 4>import our oil either way around, we import there. We

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<v Speaker 4>still import a bunch of oil, and our biggest trading

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<v Speaker 4>partner for that is Canada, so that's also a big

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<v Speaker 4>one there.

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<v Speaker 5>That's gonna be interesting.

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<v Speaker 1>Oh, I know question.

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<v Speaker 4>We'll talk about that.

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<v Speaker 5>Later the Canadians actually do.

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<v Speaker 4>Something about that, all right, Mike, Thanks lot. Mike McKee,

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<v Speaker 4>Bloomberg International Economics and Policy correspondent on the nerdy things

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<v Speaker 4>that he is looking at.

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<v Speaker 1>Right now, you're listening to the Bloomberg Intelligence Podcast. Catch

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<v Speaker 2>Alex Stel, Paul Swenyer live here in our Bloomberg Interactive

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<v Speaker 2>Brokers studio. We are streaming live on YouTube as well.

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<v Speaker 2>So head over YouTube dot com search Bloomberg Podcast Live

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<v Speaker 2>and that's the easy way to find this. Donald Trump

0:12:55.679 --> 0:13:00.320
<v Speaker 2>self proclaimed greatest friend to the crypto space, Elon Musk

0:13:00.480 --> 0:13:03.600
<v Speaker 2>in his inner circle. That's got to help. What does

0:13:03.600 --> 0:13:05.760
<v Speaker 2>that mean for the crypto space over the next several years.

0:13:05.760 --> 0:13:08.920
<v Speaker 2>Aisha Kiani joints the chief Operating officer for m n

0:13:09.080 --> 0:13:11.280
<v Speaker 2>n C Group. She joins us here in our Bloomberg

0:13:11.320 --> 0:13:15.320
<v Speaker 2>Interactive Broker studio. Your community, the crypto community, are you

0:13:15.640 --> 0:13:19.640
<v Speaker 2>enthused about having President Donald Trump back in the White House?

0:13:19.720 --> 0:13:22.120
<v Speaker 2>Is it positive for the crypto world or not so much?

0:13:22.240 --> 0:13:23.120
<v Speaker 2>Or is it too early to tell?

0:13:23.720 --> 0:13:27.000
<v Speaker 6>Too early to tell? So it's been both mixed signals.

0:13:27.040 --> 0:13:30.520
<v Speaker 6>We obviously he's made the right moves with you know,

0:13:30.760 --> 0:13:33.640
<v Speaker 6>a task force at SEC, with you know, the right

0:13:33.679 --> 0:13:36.800
<v Speaker 6>CEA of TC chairman. Yes, all of those are uh,

0:13:37.000 --> 0:13:38.960
<v Speaker 6>you know, the right moves and the moves we you know,

0:13:38.960 --> 0:13:41.960
<v Speaker 6>we've been anticipating. But what happened over the weekend was

0:13:42.000 --> 0:13:44.920
<v Speaker 6>that Trump launched his own meme coin and wait.

0:13:44.760 --> 0:13:47.959
<v Speaker 2>You famouses Okay, yeah, you missed it. Missed you missed it.

0:13:48.040 --> 0:13:51.640
<v Speaker 6>Everyone missed it other than us, the industry folks and we,

0:13:52.520 --> 0:13:54.640
<v Speaker 6>you know, we were basically like, what is happening? And

0:13:54.679 --> 0:13:57.600
<v Speaker 6>then Milania launched a trump coin on Sunday night?

0:13:57.760 --> 0:13:58.200
<v Speaker 5>Nice?

0:13:58.640 --> 0:13:59.960
<v Speaker 2>What does that mean? To launch a coin?

0:14:00.679 --> 0:14:04.160
<v Speaker 6>You just go on So in this case, you go

0:14:04.240 --> 0:14:06.839
<v Speaker 6>on Solana's blockchain and you launch a coin.

0:14:06.960 --> 0:14:08.280
<v Speaker 4>I'm gonna launch a steal coin.

0:14:08.679 --> 0:14:12.240
<v Speaker 6>Steal yeah, yeah, yes, does it trade yes, it does

0:14:12.360 --> 0:14:15.240
<v Speaker 6>it It tads and trades in crypto markets at a

0:14:15.440 --> 0:14:19.040
<v Speaker 6>crazy centralize value today. I mean combined both of the

0:14:19.080 --> 0:14:21.480
<v Speaker 6>coins had of a combined value of forty billion at

0:14:21.480 --> 0:14:24.800
<v Speaker 6>a pointy billion with the Bee big forty billion with

0:14:24.880 --> 0:14:25.200
<v Speaker 6>the Bee.

0:14:25.280 --> 0:14:25.480
<v Speaker 1>Yes.

0:14:25.600 --> 0:14:28.280
<v Speaker 4>Yeah, So help us understand football this weekend?

0:14:28.320 --> 0:14:29.280
<v Speaker 5>It wasn't you were not.

0:14:29.240 --> 0:14:32.920
<v Speaker 4>Focused on that? Yeah, help us understand like the meme

0:14:33.040 --> 0:14:37.520
<v Speaker 4>coin situation and all the frath versus the reality of

0:14:37.880 --> 0:14:40.080
<v Speaker 4>crypto changing under Trump administration.

0:14:40.600 --> 0:14:44.160
<v Speaker 6>I would call meme coins the froth right, and that

0:14:44.360 --> 0:14:47.240
<v Speaker 6>is not that's a very bad look on us, and

0:14:47.280 --> 0:14:50.600
<v Speaker 6>that's a very bad institutional look of the entire industry.

0:14:50.640 --> 0:14:53.680
<v Speaker 6>That's something you know, we do not support. What you

0:14:53.680 --> 0:14:56.640
<v Speaker 6>know we're here to support is Bitcoin eat Solana as

0:14:56.680 --> 0:15:00.080
<v Speaker 6>like the real assets, so the real tech. But but

0:15:00.120 --> 0:15:03.080
<v Speaker 6>if you're just going to go launch a coin raise

0:15:03.600 --> 0:15:06.320
<v Speaker 6>So I wanted to bring like mention the stats here

0:15:06.360 --> 0:15:10.480
<v Speaker 6>today because Shane Analysis just ran the research report yesterday.

0:15:10.560 --> 0:15:15.200
<v Speaker 6>So fifty percent of Trump and Millennia had never bought

0:15:15.320 --> 0:15:19.640
<v Speaker 6>a Solana alts coin before. Forty seven percent of buyers

0:15:19.680 --> 0:15:23.360
<v Speaker 6>created their wallets the same day they purchased the tokens

0:15:23.640 --> 0:15:27.000
<v Speaker 6>and then eighty three percent of the holder's own sub

0:15:27.120 --> 0:15:31.720
<v Speaker 6>one thousand dollars of Solana assets. So he onboarded this

0:15:31.960 --> 0:15:36.440
<v Speaker 6>many people on Solana's blockchain for the ecosystem.

0:15:36.800 --> 0:15:39.360
<v Speaker 2>So is that I mean, and the suggestion is they

0:15:39.600 --> 0:15:43.520
<v Speaker 2>these for lack of a better word, investors don't really

0:15:43.960 --> 0:15:45.520
<v Speaker 2>we'd have no idea to know who they are or

0:15:45.800 --> 0:15:48.800
<v Speaker 2>maybe help educated they are.

0:15:48.920 --> 0:15:52.760
<v Speaker 6>Exactly right, Like, what's what's the value? What's the intrinsic value? Right,

0:15:53.080 --> 0:15:56.360
<v Speaker 6>if you're going to invest in bitcoin or either Solon

0:15:56.480 --> 0:15:58.840
<v Speaker 6>or Avalanche, there is an intrinsic value to it. It's

0:15:58.840 --> 0:16:02.480
<v Speaker 6>a trusted chain. But what's an intrinsic value to a

0:16:02.560 --> 0:16:05.200
<v Speaker 6>meme coin? Okay, I mean I don't know.

0:16:05.280 --> 0:16:08.120
<v Speaker 4>I don't think that's probably the point, right, So what

0:16:08.120 --> 0:16:11.440
<v Speaker 4>are you guys talking about in class? Also? You uh,

0:16:12.040 --> 0:16:15.560
<v Speaker 4>do you teach it? What are you guys talking about

0:16:15.560 --> 0:16:17.920
<v Speaker 4>when it relates to crypto and regulation? What's like the

0:16:18.000 --> 0:16:18.760
<v Speaker 4>zeitgeist there?

0:16:19.880 --> 0:16:23.640
<v Speaker 6>So, I mean, obviously all positive news for us, you know,

0:16:23.680 --> 0:16:27.520
<v Speaker 6>going forward starting this administration, that what we're looking forward to, Like,

0:16:27.600 --> 0:16:30.920
<v Speaker 6>you know, is it a commodity? Are all of them

0:16:30.920 --> 0:16:33.960
<v Speaker 6>are commodities? Are all of them are utilities? Or Are

0:16:34.000 --> 0:16:35.800
<v Speaker 6>we just going to give this a new class, you know,

0:16:36.000 --> 0:16:38.960
<v Speaker 6>shared class or a new asset class. That's one thing.

0:16:39.320 --> 0:16:42.960
<v Speaker 6>The other thing is that obviously on how the tech works.

0:16:43.040 --> 0:16:46.480
<v Speaker 6>So something that this meme coin craze over the weekend

0:16:46.520 --> 0:16:49.000
<v Speaker 6>did was it kind of pointed out faults in our

0:16:49.040 --> 0:16:53.520
<v Speaker 6>own space. Right like coin based, the largest retail institutional

0:16:54.160 --> 0:16:58.600
<v Speaker 6>exchange had issues. Solana, the blockchain itself had issues. Right,

0:16:58.920 --> 0:17:01.840
<v Speaker 6>are we ready? Are we ready to onboard this many users?

0:17:02.200 --> 0:17:04.879
<v Speaker 6>So I would be opening up my semester with that.

0:17:05.000 --> 0:17:06.920
<v Speaker 6>Normally I do it with bitcoin, but this time I

0:17:06.960 --> 0:17:09.960
<v Speaker 6>would say, guys, this is the perfect use case. Right,

0:17:10.440 --> 0:17:12.800
<v Speaker 6>does it work, does it not work? Which case worked,

0:17:12.880 --> 0:17:16.240
<v Speaker 6>which case didn't work? And we can analyze it chain

0:17:16.320 --> 0:17:18.480
<v Speaker 6>by chain? What broke? At what point?

0:17:19.080 --> 0:17:23.080
<v Speaker 2>What is the expectation of the industry about regulation under

0:17:23.080 --> 0:17:26.000
<v Speaker 2>a Trump administration? Is this something that you expect the

0:17:26.080 --> 0:17:30.919
<v Speaker 2>SEC to take the lead? The CFTC something new, So he.

0:17:31.359 --> 0:17:35.560
<v Speaker 6>Has set up a special task for at SEC. And

0:17:35.840 --> 0:17:40.440
<v Speaker 6>Caroline fam the acting chair at CFTC, is also very

0:17:40.560 --> 0:17:44.800
<v Speaker 6>pro crypto. I've known her for a while, you know,

0:17:44.880 --> 0:17:48.720
<v Speaker 6>phenomenal person. It's just that they have a better understanding

0:17:48.800 --> 0:17:51.439
<v Speaker 6>of the asset. So when you know, when we'd go

0:17:51.960 --> 0:17:54.680
<v Speaker 6>you know, for guidelines or when we'd go to help

0:17:54.840 --> 0:17:57.639
<v Speaker 6>or when we'd ask for more clarity, they know what

0:17:57.680 --> 0:18:01.359
<v Speaker 6>we're talking about other than you know, just be being

0:18:01.400 --> 0:18:03.720
<v Speaker 6>an onshore acid or an offshore asset.

0:18:03.920 --> 0:18:07.520
<v Speaker 4>So it's less like open season for crypto and it's

0:18:07.520 --> 0:18:10.000
<v Speaker 4>more just like the people in the positions have the

0:18:10.080 --> 0:18:12.480
<v Speaker 4>right kind of language to sort of move things along

0:18:12.520 --> 0:18:15.560
<v Speaker 4>in a helpful way that's correct or someone understands like

0:18:15.600 --> 0:18:18.600
<v Speaker 4>the words you're saying if you're talking about crypto. Right,

0:18:19.880 --> 0:18:24.560
<v Speaker 4>So based on that, what's realistic in this administration and

0:18:24.600 --> 0:18:26.879
<v Speaker 4>what is the stuff that we should be ignoring, like

0:18:26.960 --> 0:18:29.359
<v Speaker 4>the strategic reserve kind of thing, like what's real what's not?

0:18:30.560 --> 0:18:34.800
<v Speaker 6>I think anything that touches Bitcoin and anything touches ethereum

0:18:35.000 --> 0:18:39.280
<v Speaker 6>or anything that touches any of the original legacy coins

0:18:39.440 --> 0:18:43.240
<v Speaker 6>is real. Right, Bitcoin reserve, Yes, that should be you

0:18:43.280 --> 0:18:47.760
<v Speaker 6>know real because Bitcoin does have a limited supply, but

0:18:47.960 --> 0:18:51.239
<v Speaker 6>like launches off meme coins to generate like you know,

0:18:51.440 --> 0:18:56.240
<v Speaker 6>additional wealth and the word liberty financial that is considered frauth.

0:18:56.720 --> 0:19:00.359
<v Speaker 2>Okay, so the strategic reserve alex is for with this

0:19:00.720 --> 0:19:03.639
<v Speaker 2>oil you think it has some value. It should be

0:19:03.640 --> 0:19:04.680
<v Speaker 2>considered for bitcoin.

0:19:05.040 --> 0:19:09.560
<v Speaker 6>Yeah, I think it does because again limited value, limited number,

0:19:09.680 --> 0:19:14.000
<v Speaker 6>limited quantity, only twenty one million in value, twenty one

0:19:14.040 --> 0:19:17.919
<v Speaker 6>million in quantity, nineteen million and change have already been mined.

0:19:18.400 --> 0:19:21.560
<v Speaker 6>So and oil you can still keep on drilling right,

0:19:21.680 --> 0:19:25.919
<v Speaker 6>like you'd find oil at like you know, unknown places still,

0:19:26.280 --> 0:19:29.160
<v Speaker 6>but Bitcoin, we cannot go back and change the code

0:19:29.240 --> 0:19:31.880
<v Speaker 6>to make it from twenty one million to twenty.

0:19:31.600 --> 0:19:36.080
<v Speaker 4>Five I mean fair enough, Thanks very much. It's so

0:19:36.160 --> 0:19:37.879
<v Speaker 4>good to get your perspective. We love having you on.

0:19:37.920 --> 0:19:42.840
<v Speaker 4>Ayisha Kiani, chief operating officer at MNNC Group and professor

0:19:42.840 --> 0:19:43.320
<v Speaker 4>at m YU.

0:19:43.440 --> 0:19:47.760
<v Speaker 6>What's your class called Introduction to Blockchain and DLT.

0:19:47.960 --> 0:19:49.560
<v Speaker 4>Don't you feel like we should take that class?

0:19:49.600 --> 0:19:49.840
<v Speaker 3>Yeah?

0:19:52.200 --> 0:19:53.680
<v Speaker 4>Audit, I mean kinda right.

0:19:54.320 --> 0:19:57.560
<v Speaker 6>I'll send you my lectures. And the more he keeps

0:19:57.600 --> 0:19:59.720
<v Speaker 6>on making these announcements, I feel like the more I'll

0:19:59.760 --> 0:20:03.000
<v Speaker 6>be coming here, So I'll start just sending you my lectures.

0:20:03.119 --> 0:20:04.359
<v Speaker 4>Okay, we'll take it.

0:20:05.280 --> 0:20:10.000
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0:20:10.160 --> 0:20:13.640
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0:20:21.520 --> 0:20:24.440
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