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Unknown A
Guys hear about this. The crypto reserve crypto prices jumped after Donald Trumps surprise announcement. He wants the US Government to purchase and hold a variety of digital assets and a strategic reserve fund. An announcement that highlights Trump's growing attempts to use volatile CRT crystal currency cryptocurrency prices as a barometer of his public support. Didn't he end up choosing the, like, exact five cryptocurrencies that his administration is invested in? Or like, the way his like, crypto advisor already held those five? So it's literally just the ones he recommended. That's cool. Yes, but they got mad at him. What does that mean? David Sack specifically predict u picked the crypto coins. Gotcha. Gotcha. Bitcoin, Ethereum, xrp, Solana and Cardano. What about dogecoin? You can tell that Elon didn't choose these. He didn't mention bitcoin at first. Had to do a correction. How do you miss the biggest one?
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Unknown A
That's funny. Eric Trump, the president's son. I know that. Thank you. Said the price increases validated the recent advice he's made on social media to stock up on crypto assets. Hopefully I made someone's life just a little bit better. He posted on social media. I guess it's cool that the law doesn't exist anymore. This is like the most naked admission of insider trading imaginable. Like, literally. Hey, everyone. See the government bought into the cryptocurrencies I recommended. Hope you enjoy the boost and their re worth. Yeah, like, okay. Not that it matters. Not that anything matters anymore. I'm telling you, man, the degree of open criminality that this administration is demonstrating exceeds Russia's. Like, there is still a pre. Like in Russia, Putin is the, you know, runs the government. There's still like an artifice of perceived legitimacy that allows society to run day to day.
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Unknown A
Right now we just have like, grifters openly pillaging the government. It's different. Like, it's not just corrupt because corruption can be stable. Corruption is not necessarily unstable. It's possible to orient it in a way that functions and runs smoothly, like organized crime or whatever. Right. You can have a system that more or less chugs along. This is just open pillaging. You know, when do you think the average person's gonna actually start feeling this? They are already. The market is quickly experiencing a downturn. Federal workers being laid off en masssked. That means they're applying for unemployment. That means more unemployed workers, which means it's harder to get jobs for anyone. Even like a remotely skilled field. Inflation Already like going up quite quickly, like every successive estimate of future inflation or of like 20, 25 year over year inflation predictions. Last I heard was now at 6% at its high point.
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Unknown A
But it's probably higher than that too, you know. We'll see. Do you think they'll get rid of NASA? Eh, why not? A crypto mogul who invested millions into Trump coins is getting reprieve on civil fraud charges. That's nice. Why not man? A businessman who pumped 75 million into the Trump family backed crypto token finds himself in a fortunate position this week as federal securities'regulators are hitting pause on their civil fraud case again. Of course, none of this is illegal anymore. What do you mean? What are you gonna investigate? He's gon a pardon. SBF lull. Nah, SBF is lib coded. That's the only reason why SBF wouldn't get if SBF defrauded too many wealthy people. And he's too lib coded. NASA budget's only 25 billion. Whatever. They've been subcontracting out the SpaceX anyway. Cardano jumped more than 70% following Trump's announcement. Hey, if you work in the current administration, like if you're a White House staffer who just kind of got in like on a lark, can you give me insider info?
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Unknown A
I promise I won't do anything illegal with it. At least I promise I won't do anything your administration would consider illegal. Like the, like market booms, the up and down and up and down. All I'm saying is that if you're, if you're in, if you're in the. No, it's day trading time, buddy. Yeah boy, you know, it never been a better time for it. Just follow on, on Twitter. They're not too quiet. I guess you literally like good investment advice is literally just. Yeah. Follow Eric Trump on Twitter and when he promotes something, you can assume that he's just talking about future government plans. You know, that's not even insider trading at that point. He's posting it publicly. He's the one doing it. Fear and Greed Index. Wow. We down there boys. Look at that. You know, Neil Patrick Harris holding his hand against the brain bug.
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Unknown A
It's afraid. What is the Fear and Greet Index? It's a rough indicator of whether or not CNN and their experts believe that investors are operating based on fear or greed. Obviously with greed indicating like a very bullish market. Big investments spread wide, spread far. Things are going to go up, up, up and extreme fear be like consolidate, hold safe. Like you know, pull it back as much as possible. Just try to weather the storm essentially. Keep in mind the vast majority of the stock market is not controlled by the oligarchs. The oligarchs are enormously wealthy, but they're not the ones doing excessive trading. Elon Musk hasn't made his money from like investment in trading and what have you. He makes his money off of owning a significant portion of the companies that he runs. That's where his money comes from. You know, he's not out there manipulating the market.
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Unknown A
He just sits on extremely overvalued holdings. You know, a lot of people who actually try to make money off the market stand to get hurt pretty severely by another 2008. Any actual tips for your fans to survive this shit? No, sorry. No. Like the almost certain incoming mega recession is going to be horrible and I don't have any good advice. Good luck, dude. Look, I'm not an oligarch, okay? Being the second biggest lefty streamer in the English speaking world actually does not. That doesn't help you when you try to get in on the inner circle. Okay, Biggest today. Biggest today. Let's go. Who's the biggest? I don't know. I've forgotten his name already. That doesn't help you when the inner like a crash will hurt me too. You know rice and beans. Learn how to cook dog. I don't know. It's gonna be rough. Learn a trade.
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Unknown A
Don't. They're terrfing the beans. It's over. You're gonna need to eat American beans. That's true. The extreme fear margin on all of these is very u. The problem is, unlike the 1930s, there's no clear FDR to swoop in and save us. Yeah, well, at the beginning of the Great Depression, there also wasn't an FDR to swoop in and save us. FDR was creator by the opportunity the Great Depression opened up. Market volatility is climbing. Safe haven demand. Okay, yeah, yeah, we didn need t to look through all these. Why do they want this recession so bad? I keep talking about it. You gotta listen. Or maybe you just popped right in. I'm gonna chec'm gonna check to see if you were here posting 30 minutes ago. You better hope al right you get a pass on this one. The reason they want to recession is because when a recession happens, the economy plummets, a bunch of companies go bankrupt and only the oligarchs have the money left over to buy up everything when it's being sold for a fraction of its actual worth.
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Unknown A
If the whole economy goes under, only a small group of people are wealthy enough not only to be okay, but to start buying and accumulating. They take advantage of people's desperation by buying up all these properties that are being liquidated so that when the economy rebounds before, maybe they own, let's just say, 1% of the economy. But then when everything gets cheap, they have less money in an absolute sense. But everything else is dirt cheap. So they buy by B B buy. And then when the economy goes back up, now they own 2% of the economy. Yeah, recessions are good for people who, you know, have the hunger and who are, you know, willing to buy by bye and they have the capital. Is it a way for the oligarchs to consolidate? Stop brown nosing me, okay? I know you're paying attention. You don't need to ask me to repeat what I just said.
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Unknown A
Will this recession affect other countries or just the EU and America? It'll affect the entire world. Sorry. There's no escaping American economic influence. Okay. Unlike the first Great Depression, this time a bunch of blue states would be. Would have the capacity to essentially bail themselves out. Well, there's no. If the value of the dollar goes down, if everything goes down, that hits everyone. There's no safety from that. Not in a blue state, not in a different country, not in the eu, not in China. Everyone gets hit. I would focus first on like the bare essentials, which is rice and beans, you know, And I mean that, I really do. You want to make sure that you are as strong as possible so that you're capable of weathering the hardship. Minimize your medical liabilities. Maximize your personal level of fitness because that also minimizes medical liabilities.
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Unknown A
You know, have a robust friend network. Maybe you have to move in with your folks, maybe you have to move in with your friends. I don't know. I can't see the future. But you want, you want to buffer yourself so that you're not one F up or one inconvenience or one negative externality away from hitting nothing. You know, I have no friends or family. It. Make some friends, Mother. Go out there. Yeah. Recycle your toilet paper. I don't know. I mean it though. Not a great time for me to be reliant on a wheelchair, I guess. No, it's not. So learn how to walk again. That's a half joke. I mean, do whatever you can to invest in your fitness. Obviously you probably can't learn to walk again. Or maybe you can, I don't know. With wokeness. These Days. It used to be if a person was in a wheelchair, it meant they couldn't walk at all.
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Unknown A
Now it's like, well, maybe they were just tired. I don't know. Is this financial advice? No, I would never. Just do the best you can. Be as physically fit as possible. It does help younna make sure you want to make sure. So I should stop eating Taco Bell every day when I work at Pizza Hut? Yes, Gumeister, you should stop doing that. Gold is up. Gold always goes up in times of crisis. But as we've discussed before, just because you can buy gold and gold's value increases doesn't mean you can sell gold at its market rate. Like you can buy $10,000 worth of gold and maybe over time that appreciates the 12,000. But then what do you do when you want to liquidate that into cash that you can actually buy something with? So maybe the value of the gold appreciated more than inflation. You know, devalue the dollars so you have like a benefit, you know, you've made money essentially.
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Unknown A
But how do you liquidate that? You think you're just gonna go to a pawn shop and be like, this is $2,500 of gold. Give me $2,500? Probably not. Yes. Well, no, you shouldn't think that. That's how we do it in Germany. Yes, in some specific contexts. But the liquidity of gold is not guaranteed. That's the problem with something like it, as opposed to like a stock or a bond or whatever, you know. And when everyone starts selling their gold in like a big economic downturn, you think that these like, markets are gonna stay open. Like they would willingly trade their cash for the gold consistently enough that you could. Whatever. You can't eat gold by beans. True. Not to mention, like people can just steal your damn gold from you. Look, basically what I'm saying is get in shape, buy beans, make friends. Alright, that's it.
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Unknown A
I really wonder what's gonna happen with the price of bitcoin. Bitcoin's price is going to continue to fluctuate massively and its overall price is probably going to continue to go up. The point of bitcoin isn't to be a currency. It's a speculative vehicle at this point that the ultra wealthy can pump money into so they can take advantage of the, you know, every rug pull they get an opportunity to. They do this all the time with the stock market. Why wouldn't they do it with bitcoin? You know, learn to grow some vegetables. I don't recommend this you'll end up spending more time and money than it's worth. Yees Consumer sentiment declined February for the second consecutive month, down by a steep 10% from January. Yees nearly 2/3 of US adults nationwide. So they feel Trump isn't doing enough to address inflation. We consumer sentiment pullb back in American shopping habits, although there's no evidence that a recession is anywhere on the horizon.
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Unknown A
Hmm. Are you sure about that? CNN Business have you heard about the Atlanta Fed's predictions? A National association of Realtors report Friday shows that sales of existing homes fell 4.9% in January from the previous month, while prices shot up to a record high for the month, exacerbating America's home affordability crisis. Retail sales have dropped recently. So every single economic indicator is down. Literally like everything. You can look at every line. This is the language of being on the edge of a depression. They're explicitly fronting it with whatever you do, don't panic, everything is fine. Yeah, that's true. Yeah. Keep in mind that people who write for CNN Business definitely don't want to be seen as contributing to the economic anxiety that's worsening the economy because then they're buddies at the water cooler will ll be like, well, what the F, man, you just made it worse.
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Unknown A
You know, despite the plunge, stocks are very close to their all time highs. I wonder if there's any kind of disconnect between the health of the market and how high the numbers are. If you think about it, can it just be incompetence from the side of the wealthy? No, no, no, no. This recession that they're building towards is deliberate, 100% deliberate. They are deliberately working towards it right now. They are trying to crash the economy. They've even said so. They've literally said so. Elon Musk literally said, yeah, there's going to be hardship at the beginning, but don't worry guys, it'll pay off. Like multiple officials from the Trump administration have said this. It's not, it's not conspiracy or speculation. They've stated it upf frontt. The plan is to crash the economy so a very small group of wealthy people can make a lot of money very, very, very, very quickly and even more political power.
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Unknown A
They want to turn America into a shopping mall playground like pedophile zone for the ultra wealthy. The same as like Dubai or Russia or whatever the. And that's it. That's what they want. That's all they want. They assume that democracy is not something they're gonna have to worry about in the future.