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Hiring Indeed is 16 00:00:57,440 --> 00:00:58,040 Speaker 1: all you need. 17 00:00:58,800 --> 00:01:02,040 Speaker 2: I've been calling bigco hit twenty thousand, so so was 18 00:01:02,080 --> 00:01:06,160 Speaker 2: that like fifty five If Michael Sailor gets margin called, 19 00:01:07,000 --> 00:01:09,240 Speaker 2: what effects could it have on the broader market in 20 00:01:09,319 --> 00:01:11,920 Speaker 2: terms of crypto and what kind of like contagion level 21 00:01:11,920 --> 00:01:14,120 Speaker 2: event could we expect for those who like retail investors 22 00:01:14,120 --> 00:01:14,319 Speaker 2: in it. 23 00:01:14,920 --> 00:01:17,840 Speaker 3: Well, the eighty five percent drawdown number is ten thousand, 24 00:01:17,880 --> 00:01:19,960 Speaker 3: three hundred, and that's the dirty number that we've been saying, 25 00:01:19,959 --> 00:01:21,080 Speaker 3: and people don't like hearing that. 26 00:01:21,480 --> 00:01:23,800 Speaker 4: And I made a tweet on Twitter. It's my favorite 27 00:01:23,840 --> 00:01:25,440 Speaker 4: place of tweet on Twitter. We made that joke. 28 00:01:26,560 --> 00:01:28,560 Speaker 3: But I made a tweet back in January and I 29 00:01:28,600 --> 00:01:30,920 Speaker 3: got crucified for it. I said, if you don't think 30 00:01:30,920 --> 00:01:32,800 Speaker 3: bitcoin can go below twenty k, then you must be 31 00:01:32,840 --> 00:01:35,440 Speaker 3: new here pepre like what an idiot bottom is in. 32 00:01:35,600 --> 00:01:36,319 Speaker 4: You know, price is. 33 00:01:36,240 --> 00:01:38,360 Speaker 3: Definitely going up now when you've got the YouTuber saying 34 00:01:38,400 --> 00:01:42,039 Speaker 3: that it's not so funny right now, is it? And no, 35 00:01:42,319 --> 00:01:46,039 Speaker 3: and you know we have been Twenty two thousand is 36 00:01:46,040 --> 00:01:48,160 Speaker 3: a very important number because that's where the two hundred 37 00:01:48,200 --> 00:01:50,800 Speaker 3: week moving average is, and when you look over time, 38 00:01:51,160 --> 00:01:52,360 Speaker 3: it's always. 39 00:01:52,040 --> 00:01:53,640 Speaker 4: Hit the two hundred week moving average. 40 00:01:54,160 --> 00:01:56,760 Speaker 3: It has wigged down to the three hundred week moving 41 00:01:56,760 --> 00:01:59,080 Speaker 3: average before, which I don't quite know what that number 42 00:01:59,120 --> 00:02:00,480 Speaker 3: is off the top of my head, but twenty two 43 00:02:00,480 --> 00:02:03,840 Speaker 3: thousand could be a potential for a bottom. But we 44 00:02:04,040 --> 00:02:06,400 Speaker 3: targeted twenty four thousand, five hundred would kind of be 45 00:02:06,400 --> 00:02:08,560 Speaker 3: the first level and now he pierced through that. Now 46 00:02:08,560 --> 00:02:10,680 Speaker 3: we're looking at twenty two thousand. After that you go 47 00:02:10,720 --> 00:02:13,800 Speaker 3: to the psychological level of twenty thousand. After that strong 48 00:02:13,840 --> 00:02:16,760 Speaker 3: support at seventeen thousand, then you have fourteen thousand, ten, 49 00:02:17,440 --> 00:02:19,359 Speaker 3: and then under fourteen. Now you're going down to ten 50 00:02:19,400 --> 00:02:21,280 Speaker 3: and then after that, like all bets are off the table. 51 00:02:21,360 --> 00:02:24,880 Speaker 3: So the answer to your question is, I'm not worried 52 00:02:24,919 --> 00:02:27,600 Speaker 3: about Michael Sailor if the price gets to twenty one thousand, 53 00:02:27,600 --> 00:02:29,800 Speaker 3: which is a margin call point, because they're. 54 00:02:29,639 --> 00:02:30,840 Speaker 4: Going to add more collateral. 55 00:02:30,919 --> 00:02:33,240 Speaker 3: You know, they can add more to keep from actually 56 00:02:33,280 --> 00:02:36,160 Speaker 3: getting liquidated there, they can add to their position. I'm 57 00:02:36,240 --> 00:02:38,200 Speaker 3: much more worried about Michael Sailor if the price does 58 00:02:38,280 --> 00:02:40,600 Speaker 3: drop down to ten thousand. And when you look at 59 00:02:40,840 --> 00:02:43,720 Speaker 3: what the attack, that's Citadel. I do believe some people 60 00:02:43,760 --> 00:02:46,240 Speaker 3: are saying, oh, you know, it's not actually true. Citadel 61 00:02:46,280 --> 00:02:48,360 Speaker 3: and Black Rock are the ones that moved against Doaquon. 62 00:02:48,440 --> 00:02:51,120 Speaker 3: They moved against absolutely, There's no question about it. Who 63 00:02:51,120 --> 00:02:53,200 Speaker 3: else got that kind of money and power to do that? 64 00:02:54,080 --> 00:02:56,600 Speaker 3: So they went after do Quon, they went after Terror Luna, 65 00:02:56,639 --> 00:02:59,520 Speaker 3: they went after Ust And I'm kind of afraid that 66 00:02:59,639 --> 00:03:02,720 Speaker 3: right now, we are start, We're gonna see any vulnerability 67 00:03:02,760 --> 00:03:05,760 Speaker 3: that exists out there in crypto. These people are going 68 00:03:05,840 --> 00:03:08,280 Speaker 3: to be attacking. They're gonna expose them. And the truth 69 00:03:08,320 --> 00:03:10,000 Speaker 3: is they need to be exposed because if you have 70 00:03:10,080 --> 00:03:13,600 Speaker 3: a big vulnerability, it's always going to eventually get exposed. Well, 71 00:03:13,639 --> 00:03:14,919 Speaker 3: let's go into it now while we're in the bear 72 00:03:14,919 --> 00:03:16,840 Speaker 3: market and get it over with instead of stopping a 73 00:03:16,840 --> 00:03:19,440 Speaker 3: big bowl run down the road. But I think when 74 00:03:19,440 --> 00:03:21,480 Speaker 3: you look at Michael Sailor what I'm a little concerned about, 75 00:03:21,800 --> 00:03:23,920 Speaker 3: and I like, like, I'll be honest, I know I 76 00:03:24,639 --> 00:03:26,320 Speaker 3: so somebody said I think that y'all are gonna go 77 00:03:26,320 --> 00:03:28,560 Speaker 3: after Michael Saalor or some some point. I like him personally. 78 00:03:28,880 --> 00:03:31,280 Speaker 3: I think he's genuine. I think he really does love bitcoin. 79 00:03:31,360 --> 00:03:33,960 Speaker 3: I have said before he's newer, so there's been a 80 00:03:33,960 --> 00:03:36,720 Speaker 3: little naiveness as not being through a full market cycle, 81 00:03:36,720 --> 00:03:39,240 Speaker 3: which he's experiencing now. But I'm a little concerned that 82 00:03:39,240 --> 00:03:42,280 Speaker 3: people with much bigger pockets than Michael Sailor are going 83 00:03:42,320 --> 00:03:44,640 Speaker 3: to find whatever that number is that he can't add more. 84 00:03:44,560 --> 00:03:45,200 Speaker 4: To that position. 85 00:03:45,400 --> 00:03:47,720 Speaker 3: Some people are calling for seven thousand or thirty five hundred, 86 00:03:47,760 --> 00:03:49,240 Speaker 3: like these are numbers people throw out there. I don't 87 00:03:49,280 --> 00:03:52,120 Speaker 3: think we go that low, but I'm I'm more nervous 88 00:03:52,120 --> 00:03:54,600 Speaker 3: about someone directly attacking that number to push it down 89 00:03:54,600 --> 00:03:56,600 Speaker 3: to liquidate him. So I don't know what the number 90 00:03:56,640 --> 00:03:58,960 Speaker 3: is that he couldn't bear anymore, but that's probably what 91 00:03:59,000 --> 00:03:59,320 Speaker 3: they're going. 92 00:03:59,280 --> 00:04:00,520 Speaker 4: To talk calculation. 93 00:04:00,600 --> 00:04:03,160 Speaker 2: The number is ninety eight and fifty six. 94 00:04:03,400 --> 00:04:05,280 Speaker 4: That's so close to ten thousand, three hundred. 95 00:04:05,440 --> 00:04:08,160 Speaker 2: It's like where they woul knock them out. Yeah, I 96 00:04:08,160 --> 00:04:10,200 Speaker 2: truly believe when I said it with Kathy in twenty twenty, 97 00:04:10,600 --> 00:04:13,240 Speaker 2: anytime we have any superstar investors, it feels as if 98 00:04:13,240 --> 00:04:15,480 Speaker 2: the top institutions wants to knock that person out of 99 00:04:15,480 --> 00:04:19,040 Speaker 2: facially and they begin aggressively attacking their positions. I hate 100 00:04:19,040 --> 00:04:20,800 Speaker 2: that he's just the next one that got caught up 101 00:04:20,839 --> 00:04:23,120 Speaker 2: in that. Why do you think a lot of retail 102 00:04:23,160 --> 00:04:27,120 Speaker 2: investors don't believe technicals don't matter in bitcoin or crypto? 103 00:04:27,720 --> 00:04:28,040 Speaker 4: Yeah? 104 00:04:28,080 --> 00:04:31,600 Speaker 3: Well, I think that it's just data rights, it's the 105 00:04:32,080 --> 00:04:34,720 Speaker 3: length of data that we have. But when you really 106 00:04:34,760 --> 00:04:37,000 Speaker 3: look at technicals, you look at charts, And I'll be 107 00:04:37,040 --> 00:04:39,880 Speaker 3: honest with you, like I'm not a technicals driven person. 108 00:04:39,880 --> 00:04:42,440 Speaker 3: I'm much more fundamentals We have a great technical analyst 109 00:04:42,480 --> 00:04:44,280 Speaker 3: here a bit with Cruder. We got sixty employees here, 110 00:04:44,360 --> 00:04:47,599 Speaker 3: so we run really deep. We got experts in everything. 111 00:04:48,279 --> 00:04:50,000 Speaker 3: But for me, like charts are just kind of boring 112 00:04:50,000 --> 00:04:52,080 Speaker 3: to me, if I'm really honest with you, I don't 113 00:04:52,120 --> 00:04:54,160 Speaker 3: have the patience that is down. I've done a lot 114 00:04:54,160 --> 00:04:56,560 Speaker 3: of training before, actually a leverage training. I turned eighty 115 00:04:56,560 --> 00:04:59,640 Speaker 3: thousand into a million last January. You know, I said, 116 00:04:59,640 --> 00:05:05,360 Speaker 3: I'm doing that's what I'm out bitcoin. Okay, yeah, well 117 00:05:05,640 --> 00:05:08,120 Speaker 3: it so I have a bullish bias, like I just 118 00:05:08,160 --> 00:05:10,479 Speaker 3: know that about because really you can't be in this 119 00:05:10,640 --> 00:05:12,800 Speaker 3: crypto space like I am and not have a bullish 120 00:05:12,880 --> 00:05:15,039 Speaker 3: bias to see all the things behind the scenes that 121 00:05:15,120 --> 00:05:17,640 Speaker 3: go on, you know, where this is going down the road, 122 00:05:17,920 --> 00:05:19,960 Speaker 3: and so when things are go short term badge, you're like, 123 00:05:20,000 --> 00:05:20,960 Speaker 3: I don't get it, you know. 124 00:05:21,400 --> 00:05:23,279 Speaker 4: So for me, it was just perfect timing. 125 00:05:22,960 --> 00:05:25,280 Speaker 3: Because in January things were really going up and in 126 00:05:25,279 --> 00:05:27,839 Speaker 3: February as well, and so my bullish bias kicked in 127 00:05:27,880 --> 00:05:30,479 Speaker 3: and basically whenever we had a dip, I was just 128 00:05:30,560 --> 00:05:33,239 Speaker 3: going long and I I was using irresponsible leverage. 129 00:05:33,240 --> 00:05:35,599 Speaker 4: I was doing like twenty five x. But uh, you know, 130 00:05:36,240 --> 00:05:38,120 Speaker 4: it was very irresponsible. No one else do this, no 131 00:05:38,160 --> 00:05:39,039 Speaker 4: one else do this, you know. 132 00:05:39,200 --> 00:05:41,520 Speaker 2: But the quantitative easing was still on the table, so 133 00:05:41,600 --> 00:05:43,520 Speaker 2: it was and you. 134 00:05:43,440 --> 00:05:44,880 Speaker 3: Guys hit that on the head. I heard what you 135 00:05:44,880 --> 00:05:47,240 Speaker 3: guys said before I came on the show. You guys 136 00:05:47,400 --> 00:05:49,839 Speaker 3: hit that on the head. You look at the quantitative 137 00:05:49,880 --> 00:05:53,840 Speaker 3: easing chart compared to the tech stocks, it's the same chart. 138 00:05:54,000 --> 00:05:55,880 Speaker 4: It's insane. That's where all the money wins. 139 00:05:55,920 --> 00:05:58,800 Speaker 3: So but the truth is I am smart enough to 140 00:05:58,839 --> 00:06:01,600 Speaker 3: know that the technical do matter. It doesn't matter really 141 00:06:01,600 --> 00:06:02,600 Speaker 3: how much data you have. 142 00:06:02,720 --> 00:06:03,480 Speaker 4: Charts or charts. 143 00:06:03,680 --> 00:06:06,920 Speaker 3: Charts are the psychology of human behavior. It is the 144 00:06:07,040 --> 00:06:09,560 Speaker 3: decision making of earners. 145 00:06:09,600 --> 00:06:09,960 Speaker 4: What's up? 146 00:06:10,040 --> 00:06:12,520 Speaker 5: You ever walk into a small business and everything just 147 00:06:12,680 --> 00:06:15,839 Speaker 5: works like the checkout is fast, the receipts are digital, 148 00:06:16,360 --> 00:06:19,359 Speaker 5: tipping is a breeze, and you're out the door before 149 00:06:19,360 --> 00:06:23,520 Speaker 5: the line even builds. Odds are they're using Square. We 150 00:06:23,680 --> 00:06:26,240 Speaker 5: love supporting businesses that run on Square because it just 151 00:06:26,240 --> 00:06:29,479 Speaker 5: feels seamless. 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Speed up your hiring right now with Indeed, 186 00:08:33,559 --> 00:08:35,800 Speaker 1: and listeners of this show will get a seventy five 187 00:08:35,880 --> 00:08:39,040 Speaker 1: dollars sponsored job credit to get your jobs more visibility 188 00:08:39,200 --> 00:08:44,920 Speaker 1: at indeed dot com slash pod katz thirteen. Just go 189 00:08:44,960 --> 00:08:49,760 Speaker 1: to Indeed dot com slash pod katz thirteen right now 190 00:08:50,080 --> 00:08:52,640 Speaker 1: and support our show by saying you heard about Indeed 191 00:08:52,679 --> 00:08:57,000 Speaker 1: on this podcast. Terms and conditions apply. Hiring Indeed is 192 00:08:57,040 --> 00:08:57,840 Speaker 1: all you need. 193 00:08:58,240 --> 00:09:01,000 Speaker 3: The person based on the lane last price action. It 194 00:09:01,040 --> 00:09:03,120 Speaker 3: goes all the way back to Japan and you know 195 00:09:03,200 --> 00:09:08,240 Speaker 3: Hikina sheet candles and rice trading. It's human psychology it's 196 00:09:08,280 --> 00:09:11,040 Speaker 3: it's not rocket science here, you know, and so people 197 00:09:11,080 --> 00:09:13,719 Speaker 3: are generally going to behave certain ways, and you know 198 00:09:13,760 --> 00:09:16,400 Speaker 3: how you know that's true. Everybody's depressed right now, you know, 199 00:09:17,200 --> 00:09:19,600 Speaker 3: everybody's even those of us that have been through this 200 00:09:19,760 --> 00:09:22,560 Speaker 3: and and we're like, you're super ogs when it comes 201 00:09:22,640 --> 00:09:25,880 Speaker 3: to going through these market cycles, like it doesn't feel good, 202 00:09:26,200 --> 00:09:28,280 Speaker 3: you know, especially for people that got in crypto laid 203 00:09:28,360 --> 00:09:30,800 Speaker 3: and like, I know, I'm sure that you guys feel 204 00:09:30,840 --> 00:09:33,240 Speaker 3: responsibility to your audience like I do, absolutely, and when 205 00:09:33,280 --> 00:09:35,160 Speaker 3: you see other that your people are hurting, and you 206 00:09:35,280 --> 00:09:37,640 Speaker 3: know that like, Okay, we know they're going to get 207 00:09:37,640 --> 00:09:39,200 Speaker 3: through this if they stay here, but you know a 208 00:09:39,200 --> 00:09:41,080 Speaker 3: certain percentage of people are gonna leave. And that's really 209 00:09:41,120 --> 00:09:45,160 Speaker 3: really sad. That proves the emotions that exist within a 210 00:09:45,200 --> 00:09:47,960 Speaker 3: market cycle. And so the technicals do matter because the 211 00:09:48,000 --> 00:09:50,880 Speaker 3: emotions matter because we all go through the same experiences. 212 00:09:51,120 --> 00:09:57,079 Speaker 6: Let me let me ask you this XRP. Ripple. I 213 00:09:57,200 --> 00:09:59,320 Speaker 6: watched the post on Instagram that you may always said 214 00:09:59,320 --> 00:10:01,880 Speaker 6: that they turned down a settlement in the SEC and 215 00:10:01,920 --> 00:10:05,760 Speaker 6: he was very you know, he was very passionate about 216 00:10:05,800 --> 00:10:10,520 Speaker 6: shit delivery on that. Yeah, can you talk about you know, 217 00:10:10,800 --> 00:10:13,319 Speaker 6: a lot of XRP Army, can you talk about that? 218 00:10:13,360 --> 00:10:17,200 Speaker 6: What does that actually mean and what's your thoughts on XRP. 219 00:10:17,880 --> 00:10:18,960 Speaker 4: So it's very interesting. 220 00:10:19,520 --> 00:10:22,840 Speaker 3: Basically, last year, towards the end of the year, or no, 221 00:10:22,840 --> 00:10:24,200 Speaker 3: not towards the end of the year, like right around 222 00:10:24,200 --> 00:10:25,680 Speaker 3: the May crash, I got in touch with this guy 223 00:10:25,720 --> 00:10:28,240 Speaker 3: who was we called a mixed mister X on the channel. 224 00:10:28,480 --> 00:10:29,680 Speaker 3: He's got to reach out to me and gave me 225 00:10:29,679 --> 00:10:31,640 Speaker 3: a lot of good information. It all turned out to 226 00:10:31,640 --> 00:10:33,680 Speaker 3: be true up to a certain point. He told me 227 00:10:33,720 --> 00:10:36,360 Speaker 3: the market was definitely bouncing back in the middle of July. 228 00:10:36,679 --> 00:10:38,600 Speaker 3: We literally got down to the last day of the 229 00:10:38,640 --> 00:10:41,520 Speaker 3: middle of July, which was like the twentieth, and sure enough, 230 00:10:41,559 --> 00:10:43,200 Speaker 3: it did exactly what he said it was going to do. 231 00:10:43,240 --> 00:10:45,000 Speaker 3: He told me about a lot of the China bitcoin 232 00:10:45,040 --> 00:10:47,400 Speaker 3: mining stuff before it happened. He told me they were 233 00:10:47,440 --> 00:10:49,679 Speaker 3: moving to Kazakhstan. All of a sudden, all these stories 234 00:10:49,679 --> 00:10:51,960 Speaker 3: start coming out, and so it was really really good information. 235 00:10:52,160 --> 00:10:52,640 Speaker 4: For a time. 236 00:10:52,720 --> 00:10:54,360 Speaker 3: He said one hundred K was in the cards by 237 00:10:54,400 --> 00:10:56,440 Speaker 3: the end of the year. That didn't happen. He told 238 00:10:56,440 --> 00:10:58,480 Speaker 3: me the XRP case was going to be settled by 239 00:10:58,480 --> 00:11:00,240 Speaker 3: the end of September, and we talked about that on 240 00:11:00,240 --> 00:11:00,680 Speaker 3: my channel and. 241 00:11:00,720 --> 00:11:02,760 Speaker 4: I got crucified because it didn't happen. 242 00:11:02,760 --> 00:11:04,199 Speaker 3: Did you guys know that when you make calls and 243 00:11:04,240 --> 00:11:06,200 Speaker 3: things don't happen the way you think they do, especially 244 00:11:06,200 --> 00:11:08,000 Speaker 3: if it's kind of based on information and it's not, 245 00:11:08,160 --> 00:11:09,679 Speaker 3: you know. And we kind of got a little lazy 246 00:11:09,720 --> 00:11:11,200 Speaker 3: towards the end of the year because I started leaning 247 00:11:11,240 --> 00:11:13,280 Speaker 3: too much on that information because it seemed good, instead 248 00:11:13,320 --> 00:11:15,960 Speaker 3: of doing what we're good at, which is analysis. But 249 00:11:16,120 --> 00:11:19,800 Speaker 3: the point is is it is very interesting Jed mcaleb, 250 00:11:19,840 --> 00:11:22,679 Speaker 3: who was formerly with Ripple, he was one of the founders. 251 00:11:23,240 --> 00:11:25,640 Speaker 3: He actually split with Ripple right around the time of 252 00:11:25,679 --> 00:11:29,320 Speaker 3: the token sale, and he's sold XRP out a huge settlement. 253 00:11:29,440 --> 00:11:32,880 Speaker 3: No one has made more money on Ripple than Jed mcaleb. 254 00:11:33,240 --> 00:11:34,959 Speaker 3: I think it's about a billion dollars that he's made 255 00:11:35,000 --> 00:11:37,320 Speaker 3: where Brad garling House and Pristal Larson I think about 256 00:11:37,320 --> 00:11:41,000 Speaker 3: five hundred million was what was in the sec lawsuit. 257 00:11:41,640 --> 00:11:45,560 Speaker 3: So the point here is in September he stopped selling 258 00:11:45,600 --> 00:11:47,760 Speaker 3: for the first time. He didn't sell in September, he 259 00:11:47,760 --> 00:11:49,360 Speaker 3: didn't sell in October, he didn't sell in November, he 260 00:11:49,360 --> 00:11:52,160 Speaker 3: didn't sell in December, he starts selling again in January. 261 00:11:52,400 --> 00:11:54,199 Speaker 4: And something is not making sense to me. 262 00:11:54,160 --> 00:11:56,160 Speaker 3: Because I'm like, this case is supposed to be over 263 00:11:56,480 --> 00:11:59,600 Speaker 3: All of the news stops right about the beginning of November, 264 00:12:00,000 --> 00:12:00,600 Speaker 3: all the news stuff. 265 00:12:00,600 --> 00:12:02,720 Speaker 4: We got no news from the case right November to February. 266 00:12:03,000 --> 00:12:07,040 Speaker 3: Well, this weekend at Consensus, a big conference, I spoke 267 00:12:07,080 --> 00:12:11,400 Speaker 3: directly with someone who I'm very close with, that is 268 00:12:13,160 --> 00:12:15,839 Speaker 3: someone I trust one hundred percent would not make this up. 269 00:12:16,040 --> 00:12:18,760 Speaker 3: And I can't say where he got this information from 270 00:12:18,760 --> 00:12:20,280 Speaker 3: because it would expose him a little bit. 271 00:12:20,320 --> 00:12:20,840 Speaker 4: And that's why. 272 00:12:21,360 --> 00:12:25,160 Speaker 3: But he told me straight up that last year, straight 273 00:12:25,200 --> 00:12:27,880 Speaker 3: for the horse's mouth, he heard this that Ripple turn 274 00:12:28,280 --> 00:12:30,880 Speaker 3: down a settlement. I think the information we had was good. 275 00:12:31,320 --> 00:12:34,480 Speaker 3: I think this was going to end last year. But 276 00:12:34,640 --> 00:12:36,760 Speaker 3: it's really actually good for the market that it didn't 277 00:12:36,920 --> 00:12:39,800 Speaker 3: because everything was so overheated, it probably would have been 278 00:12:39,800 --> 00:12:42,160 Speaker 3: cut short. This may work out better for the price, actually, 279 00:12:42,280 --> 00:12:44,120 Speaker 3: because I think it's gonna the suppression of this bull 280 00:12:44,160 --> 00:12:45,400 Speaker 3: run is going to make Ripple. 281 00:12:45,200 --> 00:12:47,000 Speaker 4: Go to the moon, as we say in the next 282 00:12:47,040 --> 00:12:47,960 Speaker 4: bull run. Yeah. 283 00:12:48,000 --> 00:12:51,559 Speaker 3: But but the truth is is that they have the 284 00:12:51,600 --> 00:12:54,880 Speaker 3: sec by the balls right now. You know, in every 285 00:12:54,920 --> 00:12:57,440 Speaker 3: single month it looks worse and worse and worse for 286 00:12:57,520 --> 00:12:59,920 Speaker 3: the se as. He see that, right, And the reason 287 00:13:00,040 --> 00:13:02,240 Speaker 3: and they made that decision was because they said, point blank, 288 00:13:02,760 --> 00:13:04,640 Speaker 3: we have them and we are going to outright win. 289 00:13:04,760 --> 00:13:06,360 Speaker 3: So we have been pushing the idea of a settlement 290 00:13:06,360 --> 00:13:08,600 Speaker 3: for a long time. I no longer believe that. I 291 00:13:08,640 --> 00:13:10,959 Speaker 3: believe that the SEC is going to get totally defeated. 292 00:13:11,000 --> 00:13:13,439 Speaker 3: And not only that, but after this case, I think 293 00:13:13,480 --> 00:13:16,400 Speaker 3: we are going to see a major overhaul in what 294 00:13:16,480 --> 00:13:19,480 Speaker 3: happens at the SEC. Because you've got to understand that 295 00:13:19,520 --> 00:13:21,120 Speaker 3: towards the end of this year, if we look at 296 00:13:21,160 --> 00:13:24,280 Speaker 3: our current economic situation and we look at these mid 297 00:13:24,400 --> 00:13:28,600 Speaker 3: term elections coming up, you have to understand, if we're 298 00:13:28,640 --> 00:13:31,720 Speaker 3: in a recession, there's no way we don't get big 299 00:13:31,840 --> 00:13:34,360 Speaker 3: changes in what's going on in Washington, because that's what 300 00:13:34,440 --> 00:13:35,760 Speaker 3: happens when the markets are down. 301 00:13:36,160 --> 00:13:38,240 Speaker 4: And if that happens, I think. 302 00:13:38,040 --> 00:13:41,320 Speaker 3: We will see some people going directly after the SEC 303 00:13:42,040 --> 00:13:44,640 Speaker 3: and we will get changes to that organization. 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