Mel Mattison predicts a monumental financial reset under Trump’s second term, exploring shifts in Federal Reserve policy, the use of Bitcoin as a reserve asset, and transformative changes in global economic systems.
In this episode of TFTC, financial expert and author Mel Mattison predicts significant shifts in global financial systems under Trump’s second administration, emphasizing a potential monetary shakeup akin to 1944. He explores Trump’s possible overhaul of the Federal Reserve-Treasury relationship, likening it to 1940s "yield curve control" policies aimed at managing inflation and national debt. Central to this strategy is Treasury pick Scott Bent, whose expertise in historical monetary systems could guide the U.S. through anticipated turbulence. Mattison suggests a monetary reset involving gold, Bitcoin, or both, with Bitcoin serving as a strategic tool to counter BRICS nations’ gold-backed systems. Predicting short-term market volatility—like the S&P falling to 4,000 before surging to 15,000—he advises preparation through reduced equity exposure and protective measures. Broader themes include a potential "new Bretton Woods" monetary summit, tariffs as economic tools, and a shift toward a manufacturing-driven economy to bolster the middle class. While turbulent, these changes promise long-term economic stabilization and growth.
The podcast highlights transformative changes anticipated in global finance, with Mel Mattison predicting bold policies under Trump’s administration, such as reconfiguring the Federal Reserve-Treasury relationship and leveraging Bitcoin as a reserve asset. While these shifts promise long-term benefits, significant short-term volatility is expected. Mattison emphasizes the need for strategic preparation—diversifying investments, holding hard assets like Bitcoin and gold, and reducing equity exposure—to navigate the uncertainty. Reflecting on the potential for a restructured global financial system akin to Bretton Woods, Mattison calls this a pivotal moment in financial history, offering both challenges and opportunities for individuals and institutions alike.
0:00 - Intro
1:02 - Scott Bessent
8:08 - History of the Fed
13:25 - Bitkey & Coinkite
15:44 - Trump indicates plans to change Fed
29:36 - SOTE
31:09 - Does BRICS need to play both bitcoin and gold?
40:01 - How gold and bitcoin could coexist
44:15 - How will the new policy be implemented?
53:44 - Sparking volatility and spinning the story
1:02:47 - We may be entering a new American Renaissance
1:15:15 - Preparing before the inauguration
1:17:07 - Plugs
(00:00) I did some calculations with 21 million Bitcoin you're at about that 2324 million coin Mark if gold is going to represent the other half of the world's wealth my calculation is former CEO of three broker dealers and financial thriller author Mel Madison reveals what's coming in Trump's second term the greatest monetary shakeup since 1944 is coming in the next 12 to 36 months he could eventually want to slot into lead the Federal Reserve at the end of term while the world watches Trump's Administration shake up our economic
(00:34) landscape Mel leaves us with one final prediction I could see the stock market going down to four something on the S&P next year but then winding up by the time at 15,000 which might sound absolutely nuts buy some puts because right now I mean volatility is low protection's cheap you don't want to start buying those things if the Vic starts spiking to 25 or 30 a reset is coming the question is are you prepared m i I apologize for for sending you the wrong Riverside link we were we were both just waiting in separate Riverside
(01:10) rooms for 10 minutes that's on me no problem understood as why I was just saying you were last on earlier this year probably end of June we published our conversation on July 2nd which was a little over a week before the first first assassination attempt on Donald Trump's life a lot has happened between the end of June and today obviously Trump won the presidency in resounding fashion he he has a mandate won the popular vote Electoral College Republicans have the house and the Senate and we're in this lame duck
(01:51) period where Trump is building his administration his committees putting people in places to to effectuate that mandate which he seems to have and a lot of people have a lot of theories about where things are going including you and it seems like you may think uh that things are not going to go as many people think uh the plans uh are right now so thanks for coming back on the show and really interested to catch up yeah definitely um appreciate you having me there certainly has been a lot going on and yeah like like we talked briefly
(02:29) uh before hting record there I think there's a lot of things that both Market participants media um general population are kind of seeing as coming down the pike and I think maybe some of it will happen I I think some of it won't and I think we will see a lot of things that are not going to be expected I think big picture we're going to see bigger changes and bigger fights and bigger stories than most people are anticipating and that's a pretty high bar across because I think a lot of people are expecting big change but what
(03:05) I'm talking about is um substantial change to the monetary system uh substantial changes to the interactions between the Federal Reserve and the treasury Department uh big changes with dollar gold Bitcoin um just geopolitical events that really we haven't seen these type of uh things since probably post World War II time period what's leading you to believe this you sent me an email yesterday I think topics that we should probably cover that would dive into your thesis tariffs scop asent as Secretary of the Treasury um and as you alluded to the
(03:49) potential for the fed's the way the FED operates to change structurally under a trump Administration yeah well I I think starting with Scott bent it's kind of a good place to start because he's a very interesting individual I think there was a a tweet when the decision was still being made Elon put out seeing him as a business as usual pick and after really researching him uh reading about him listening to almost every podcast I could find on him uh where he speaks his views and and his gives his life story and all that stuff I think he's a lot
(04:29) more imaginative and a lot more uh risk tolerant more of a risk taker Than People realize and I think he has some very clear views about um Central Bank treasury interactions that you can trace back to his thesis on one of his biggest trades which was really to um go short the Yen uh when AB took over in Japan uh you know he was involved in some really historic trades he was involved um on kind of a peripheral level when Soros uh broke the pound um and it moved outside of its established trading range back then you
(05:10) know the pound traded Visa via other currencies in a very regulated uh fashion through something called the exchange rate mechanism um kind of a hold over from IMF currency manipulation days uh Post breaden Woods and um when AB took over who he I think really admired uh and has fashioned himself after a little bit um AB famously had his three arrows he had his 222 plan which was 2% inflation um 2% growth in two years uh bessin has come out with a 333 plan 3% deficits 3% growth uh 3 million more barrels of oil or oil equivalents um and
(05:55) so one of the things in in these many podcasts and interviews that best likes to talk about is what really got him over the edge to uh being willing to jump into this short Yen trade was the way the appointment calendars were set up he saw that AB was going to have a chance to remake the the board of the bank of Japan he was going to essentially be able to Appo appoint a bunch of Governors and um a central bank chief that would carry out his policies um I think that the Treasury and some of these policies that the Trump
(06:32) Administration wants to put in on one level they seem kind of contradictory right so it's like we want to really cut the government but we want the economy to truly grow and in the long-term cutting government spending definitely is a good thing for growth but in the short term it takes a while for the the economy to change if you just chop off you know half a trillion a trillion dollars worth of government spending that uh in many ways goes directly to GDP and in some sense there's even a multiplier to government spending and
(07:05) and Trump does not want the stock market to go down he doesn't want a recession he doesn't want um unemployment levels to go up and so to kind of square all of those circles I think the only way that's really possible is by going back to things that we haven't done since the 1940s 1950s things like um yield curve control uh things where the treasury is much more involved with monetary policy than historically it has been and so we could get get into a little bit of that history because I think that kind of sheds light on it but I think then that
(07:42) also leads into different ramifications and it leads into um what will eventually happen which I think is going to be some sort of a you know volatile period uh for markets uh in in the first half probably of next year where people people try to figure out where is all of this stuff going to land I think ultimately it's going to land in a good place but there's going to be a lot of feathers that get ruffled along the way yeah let's jump into the history lesson because actually it's funny that you bring up 1940s policy because that's
(08:17) something that I think Lin Alden has been banging the drum about for a couple years as a lot of people have been anchoring this period of high inflation and using the parallel of 1970s inflation as the the parallel that we should be drawing conclusions from but Lynn has been banging the drum saying no it's more like the 1940s and so really interested to hear your perspective on the lessons from from that era which many people seem to gloss over yeah I mean it's a fascinating time and it's a time that uh Scott besson's very
(08:51) familiar with so uh one of the interesting things about him he's very much into economic and financial history uh when he took kind of a career break uh he went as his job to go teach economic history at Yale I think he still has been doing that even uh while he's been doing his his company uh I think keyth Square so he's very much aware of this more so than you know just a normal kind of hedge fund guy might be uh so basically in the 1940s right we had a similar situation where we had debt to GDP 120% something like that
(09:28) World War II ends and you know a bunch of uh people come home the the demand you know for goods Services just kind of skyrockets and you had massive inflation you had you know double- digit inflation in 46 47 but you also had this desire uh by the government to keep interest rates low and so you can kind of see a little bit of parallels already with what some economists are talking about with Trump policies is that some of these have inflationary tendenc but at the same time we know Trump has also hinted he wants a weaker dollar we
(10:05) know he's not going to want interest rates you know going up to have 10% mortgages uh which people would be up in arms about so the way you kind of again square that circle is you look back to parallels in history how did we achieve that say in the 1940s and we did it with yield curve control which was basically um controlling not just the short end uh obviously the Federal Reserve can set short-term rates but also controlling the long end and and capping out treasury bond yields at 2 and a half% uh for for quite a number of years
(10:40) actually it started back in World War II and it continued post World War II where uh Treasury and and in the FED through open market uh actions were essentially buying treasury bonds keeping keeping yields down at 2 and a half% and they kept the short-term rate at 38 so so near zero so you had this really nice sloping uh yield curve from 38 on the short end to 2 and A2 it was very stable everybody knew that's what the rates were going to be uh and and obviously you know for long-term Bond holders you know that wasn't a great
(11:16) situation when you're having 10 12 15% inflation and you're getting two and a half on a bond but that was the price to be paid and I think that's that's the price that's that's going to be paid in coming years is is long-term Bond holders losing out and you know I'm not the only one to say that a lot of people Luke groman I'm sure Lyn Alden probably has talked about this a little bit um you know Luke grman groman likes to say you know they're they're the suckers at the card table I tend to agree with that and I think what's going to happen is
(11:47) you know again you go back to those 40s 50s period there was a lot more direct control that the treasury had and the Federal Reserve just did not like all this monkey and there was something it was 1951 or 1952 there was a meeting where Truman called in leaders from the Federal Reserve and the treasury and basically said you know you guys need to get together and it became known as the the treasury fed Accord of uh of 1951 or 1952 I forget exactly but very early 50s because things were starting to to get a little bit out of hand with all the war
(12:23) sending going on at that time um with uh Korea so so basically what happened was at that time there was a little bit more of a delineation put in between the FED to control monetary policy and the treasury still got control of the dollar uh the FED has um you know certain mechanisms I mean the treasury has certain mechanisms that still allow it to manipulate the dollar they have a special fund with special drawing rights and and US dollars in it that they pull out during financial crisis in 2008 they did in 2020 to stabilize currency
(13:00) but they've generally stayed out of monetary policy and I think to truly affect the Trump policies in a way that doesn't tank the stock market tank the real economy you're going to need some of these monetary controls which eventually lead to weaker dollar um higher asset prices stocks and especially things like you know Bitcoin and and possibly uh gold as well so freaks this rip of tftc was brought to you by our good friends at bit key bit key makes Bitcoin easy to use and hard to lose it is a hardware wallet that
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(15:21) com use the code tftc we have a code now tftc for 5% off at checkout this would makes sense considering Trump's posturing over the last year cuz I think he's explicitly come out and said that he'd like to control the fed's fund rate if possible so it seems like he's put Scott bent in this position with the knowledge that he has and the experience that he has particularly around currency trades whether it's the Yen or uh the speculative attack on the pound when he was at the Soros fund so that is that is just confirmation of the signaling he's
(15:53) been doing for the better part of a year cuz if they are going to go out and attempt to execute this policy that there is a needle to thread I would imagine yes I think there's a there's a very small needle to thread um if anybody could do it I think you know this team would have a chance and I think it's it's it was not surprising to me that the treasury pick was one that Trump seemed to agonize over seemed to have some difficulty uh eventually coming to a final decision on and I think that it's of all the picks it's
(16:28) the most important you know pick for his white house I think there's also a chance although I'm not sure if this would happen where he he could eventually want to slot bessent into uh lead the Federal Reserve at the end of Powell's term if not if not sooner if not challenge the the Supreme Court ruling that the the feder uh chair cannot be removed by the president I think that's still unclear whether that's the case but you're absolutely right uh Trump has said you know maybe the president shouldn't be setting the
(16:58) Fed funds rate but essentially should have a voice at the table a voice at the fomc the FED Open Market Committee that sets rates he's he's talked about greater involvement during his previous term he job owned a lot he talked a lot more about you know Federal Reserve openly criticizing Federal Reserve for keeping rates too high and so you you have this willingness and and this goes back to bessent some of those those podcasts he talks a lot he tells stories about his father having the largest science fiction library in the state of
(17:33) South Carolina and really being into kind of imagination that uh one of besson's favorite lines in these podcasts is to tell people he could find Alpha centuri in the sky long before he could find Chicago on a map because he's always kind of been this this dreamer but in this kind of financial guys you know body and life and he he's he's also I I believe a a patriotic guy uh he he was admitted to the Naval Academy but he felt at the time given the policy against homosexuals that it wasn't right for him to to go into the military given
(18:11) he he was gay uh and he he's he's often looked for ways to serve and one of the most telling things I saw in these podcasts was a a Manhattan Institute interview he did about five months ago where he literally for like a minute straight starts talking about the need for a New Breton Woods something along the lines of a monetary restructuring like we had after World War I like like happened as a result of the Treaty of Versailles after after after World War I like we had at bre and woods after World War II excuse me and that we needed a a
(18:48) massive monetary reset and he was very specific we needed it in the next Administration he says in the next four years we're going to need a massive monetary reset and I want to be a part of it and so I I I think that that pretty much he's telling you that he wants to be involved in remaking a new Global monetary system and this goes right back to my opening where I think the level of changes that people are bracing for is is is huge but it's actually going to go even higher than that that we're going to have uh all kinds of discussions um
(19:25) rumors massive changes to Institution in ways that a lot of people might have seen as kind of sacran you can't do that you can't mess with Fred fed Independence or you'll you'll Royal the markets and I think that fed Independence is going to be threatened and I'm not saying that's a bad thing I've been on podcast in the past where I've talked about the the Federal Reserve you know there's a place there's an argument to be made that it should be abolished I I think that's such a drastic move that you don't need to
(19:56) abolish it but you need to realign the incentives of the Federal Reserve System with the needs of the American people and I think right now the Federal Reserve System operates as kind of a proxy for the large Banks which at the end of the day are the owners on the cap tables of the Federal Reserve um you know branch banks so if you if you look at the Federal Reserve Bank of New York there are shares of that entity that are owned by City Group JP Morgan Bank of America and so you know basically we have this Federal Reserve System that parades
(20:35) around as if they're acting in the interest of the American people and I'm not imputing Jerome Powell as a person but I think the institution itself is not set up to serve the American people and you have to understand why central banks were set up in the first place because when money was gold the government actually needed physical gold and so the central bank was set up as a way to funnel gold from wealthy individuals from Banks to the government when the government needed gold to finance Wars and different things and so
(21:08) the the bank was set up to serve these interests of the banks because it was their gold that was being lent to the government we now have a situation in this Fiat world where that whole apparatus is no longer necessary you know the federal government has no need to go to JP Morgan in order to issue treasury bonds they're still using JP Morgan and JP Morgan balance sheet to hold treasury bonds but it's a bit of a facade uh rather than an actual uh case of where physical gold needed to be transferred from JP Morgan's balance
(21:41) sheet to the Federal Reserve to the Federal Reserve to the treasury and so we've got all of these things going on and there there are good reasons why now is the time to make these changes not the least of which is what's going on with bricks which we know is also on Trump's radar well that perfect setup Al to the next question I had is is scottm being in the position that he is it seems like Trump recognizing that we need structural change is it just that like a recognition that we are operating in this late stage of the Fiat monetary
(22:19) system set up over 100 years ago when the Fed was put into the place and it's a recognition that it's sort of gotten out of hand it's Frankenstein that is out of control and we need to reain it in and um people have been throwing around the word soft Landing in the context of fed policy in recent years but this truly seems like the way you're describing it like Scott bent uh the Trump Administration trying to manufacture this soft Landing to a new monetary order um or is it simply um interested party saying this
(22:54) isn't working um in the interest of the American people we need to bring in a new system um if left alone that system could persist but we we don't like it nonetheless and we want to create this new one yeah I I actually don't know if left alone the system could persist I I I think that it's actually much more of a dire situation than anybody's going to tell you on from the Federal Reserve or the treasury or even on mass media you know that you're not going to hear you know CNBC which is backed by Morgan Stanley and JP Morgan and black root you
(23:28) know none of these none of these people have in their interest to be honest with the American people about the real situation and you know the the the spike in deficits and and and deficits to GDP that we've experienced is is huge and you know it's also happened or or come to be that at these levels there's really a massive threat to financial stability if there's even the slightest hint of a significant pullback in the real economy or a recession so for example in 2022 we did not have massive unemployment but we did have a stock
(24:08) market selloff and that sell-off alone cost the treasury over half a trillion dollars in receipts in 2023 because of uh lack of capital gains taxes coming into the government and so the government has gotten itself pretty much in a Ponzi scheme type situation like alab B Bernie maid off where Bernie ma off everything is is great as long as the stock market's going up he can pull money from one client and give it to another but when the stock market crashed in 08 you know and people wanted their money all of a sudden it comes
(24:43) crashing down and we've gotten ourselves into that type of a situation where we don't have 60 or 70% of debt to GDP anymore we have 120% that to GDP we have 6% deficits we we spent $1 trillion dollar on interest last year and the projection is for that to be you know closer to 1.
(25:08) 5 trillion or or higher next year given that in 2025 there's something like six or 7 trillion dollars in treasury uh notes and bonds that are rolling over that need to be refinanced so not only the issuance to fund the deficit which will probably be around 2 trillion again but also you know you've got to refinance six or seven trillion and most of that is at much lower rates than what the market's at right now so you know I I went through the latest fiscal year report from the treasury fiscal year ended September 30th for 2024 and I I just added up defense
(25:43) spending interest Social Security Medicare and I included veterans benefits in that as well and you get to 86 87% of of federal spending if you cut out the entire rest of the government it's less than a trillion dollars so you know like some of these things with with Doge talking about oh we could probably cut two trillion even if you're completely got rid of every single government department and office Department of Justice you know agriculture interior educ you get rid of them all you don't even cut off a trillion dollars from the deficit um
(26:19) that's that's how much of our spending is in interest entitlements defense and VA benefits and so the the only only way that you can you know cut some spending I think um is there is waste F Fraud and Abuse in the system there are government uh departments that are overfunded overemployed I think it's realistic to think two 300 billion could possibly be be chopped off of the uh federal spending but nowhere in in any world can I see the magnitude of cuts that some people are expecting to eventually come and so what what that means is that
(27:00) we're still going to operate at a deficit even bessett says his goal is to get to a 3% deficit by 2028 so he's basically telling you he expects the government to operate at four five 6% def deficits for the entire Trump Administration and then by 2028 we'll be we'll be we'll be at three and that's if his plan goes according uh if if everything goes according to plan and so we have this situation where the amount of and then I could add on other things on top of that like the amount of uh treasury issuance that Yellen funded
(27:39) with t- bills you know and and this leads into stable coins this leads into a the bigger picture replacement of the monetary system you know there there's other people again who have talked about this where you need something to inflate to back the the the debt of the United States and in the 70s we did oil and now we could do Bitcoin we could do gold I think that's an idea you know Luke groman has put forward I think you could almost even take that idea one step further and see how it could be possible to essentially attack the brick system
(28:19) which is currently being based on Gold by inflating Bitcoin buying Bitcoin in a strategic reserve and funding those purchases with the sale of US Gold stockpiles I'm not necessarily in favor of that in fact I'm a longtime precious metal metal holder but you can see kind of the game theory involved of let the bricks build up their system Russia China spending all this money on gold and then the largest known holder of gold at over 8,000 metric tons over 260 million ounces starts to sell it into the market how that collapses the gold
(28:54) price to buy Bitcoin inflates the Bitcoin which which then has you know the the beginnings of becoming a monetary base now whether or not that's going to happen I don't know but it's one scenario that I think you can lay out there that again is a bigger change than what people are imagining right now this rip was also brought to you by our good friends at salt of the earth you got to be hydrating Freaks and while you're hydrating you got to be getting your electrolytes this is the best electrolytes mix that I've ever come
(29:26) into contact with uh pink Himalayan salt with calcium magnesium potassium sodium no sugar it tastes incredible my favorite is the orange and the pink lemonade go to drink.com that's drinks.com use the code tftc when you make your purchase and you'll get 15% off I'm telling you get on it freaks you're going to love this stuff yeah and I mean from what I'm hearing it seems like the Trump Administration is very gung-ho about this Bitcoin strategic reserve and I'm headed over to Abu Dhabi next week for the bit Queen Mana
(30:02) conference uh and the rumors behind the same people are talking about this publicly on Twitter so I feel comfortable saying it here in this conversation but people are pretty confident that there will be some announcements about Middle Eastern Sovereign wealth funds that are they're allocating to bitcoin too and it does seem like with the Trump victory in his upcoming second uh term that Bitcoin is going to play a role which is insane to me if you were to tell me this only a year ago I would have thought you were
(30:34) crazy however it seems like we're here and when you put it that way in terms of using Bitcoin as a strategic asset not only the bolster the treasury but to use it as a tool to weaken uh a bricks Coalition that seems pretty dead set on competing with the dollar Reserve System it makes a lot of sense and I guess the question is as it pertains to bitcoin do you think Russia China and it seems obvious at the Middle East who seems to be playing both sides of the fence at all times due to um the way the international oil and gas markets
(31:13) operate simply just where they sit in the uh in the stratosphere of the game theory that um they could be seeing what's happening here in the United States and saying crap do we have to hedge our bets and get exposure to bitcoin as well MH yeah I I think you could I mean you you can see and envision a path where there's these two systems one backed with the monetary base being Bitcoin and one with gold and you know to put some numbers around this um I pulled out you know uh Federal Reserve numbers of US Gold
(31:50) Holdings took a look at uh what that total Supply is and it's not as big as you think I think it's 261 million ounces at $2,600 an ounce it's somewhere in the $600 billion range so if you start doing the math and you take a look at the um Bitcoin act by Senator Lumis she talks about in that act uh buying 200,000 Bitcoin a year for five years uh if you want to try to finance that you know that's what $20 billion a year it's pretty easy to sell a little bit of gold into that and buy Bitcoin at say 100,000 a coin but if you announce
(32:33) that you're going to start selling US Gold into the gold market what's that going to do to the gold price when the biggest holder announces they're they're liquidating a large portion of their assets is going to drive down the gold price and when you at the same time say they're going to buy Bitcoin it's going to raise the Bitcoin price and so you very quickly get to a point where the Bitcoin price skyrockets gold price plummets and it's not actually that easy to finance the Strategic Reserve simply by selling off a small portion of the
(33:02) gold Holdings you almost have to liquidate the entire US Gold Holdings in order to to fund the Bitcoin Holdings and so I actually don't think that that's the end result or that will be the end result but even Whispers of something like that in the system again it it starts playing into people saying huh like Audi Arabia is a perfect example we want to have relationships with China we want to do trade we're we're going to do Juan and and and Saudi uh real with them but at the same same time uh we are going to need net settl in
(33:39) Gold so we want the gold price to to be stable but if the US starts unloading gold and just buying up on bitcoin we better get our hands on a little bit of Bitcoin and you start off these things that from the outside like you said two three years ago sound crazy but you start saying oh wow Western central banks that want to align with the United States system are going to also now need to start buying Bitcoin and all of a sudden you know it just starts off the spiral and then the same thing on the gold side you know the biggest holders
(34:11) of gold are still a lot of these Western central banks like France Germany um Italy has a huge amount obviously Switzerland you know and so I think getting all those people on board of dumping gold to buy Bitcoin is not going to happen but that doesn't mean in the the same way that Trump might use tariffs you know big tariffs as negotiating tactics that doesn't mean that um Trump claiming he's going to finance a Bitcoin strategic Reserve by selling gold that can have effects even if the gold doesn't eventually get sold
(34:45) and so I think you you have all of these geopolitical moves in the air that would just you know completely upend the system and ultimately cause volatility and that's why I do think you know 's going to be a lot more volatility in financial Assets in the stock market in the um Treasury Market in the first 6 months of the Trump administration because all of these this whole stew of all these ideas is going to come out in one way or another whether it's leaks or whether it's truths on Tru social or tweets or whatever way these these the
(35:20) these massive changes are going to start floating out into Wall Street Journal reports and financial uh markets are going to start reacting to to them and I think it it's it's actually you know bullish for gold and Bitcoin because I think gold gold will be that asset that's not you know Financial assets um and Bitcoin obviously has has its things and I know that sounds a little contradictory Mel you're saying it's going to be good for gold because I think at a certain point while it could cause gold sell-offs people will start
(35:51) to realize well wait a minute if the bricks really Institute this system it needs to be a lot more than 2500 $1 an ounce even if the US isn't playing along and so if Gold's going to truly become a monetary medal again which is the basis of a monetary system for half of the world's population half of the world's GDP it needs to be a lot higher than 2000 it needs to be closer to 20,000 30,000 doesn't mean that the US selling gold in the short term doesn't cause a gold drop but where but once people realize where Gold's going to need to
(36:22) end up if it's truly going to become the monetary base and if bitcoin's truly going to become the monetary base for the Western World well I mean that's where you start getting into um you know I did some some calculations um somewhere around the $25 million Mark now now that sounds crazy but it's based on an assumption of around one um 1,000 trillion in global wealth and if you wanted to back that half of that with 21 million Bitcoin uh you're at about that 2324 million coin Mark and so do I think that's going to happen
(37:01) overnight or we're going to these these sort of levels um in any in the next four years no but if you if people start saying wow there is a really truly significant adoption of Western central banks of Bitcoin as a reserve asset it starts us on that path where in 20 30 40 years if it truly becomes the monetary base this is where we're going to end up with it um and the same thing goes for gold if gold is going to represent the other half of the world's wealth my calculation is it needs to get to somewhere in the 50 to 60,000 an ounce
(37:43) category so the the the bottom line is that creating a new Global monetary system not based on Fiat not based on the unlimited potential for governments to spend money so uh fruitlessly that you eventually get massive inflation you know negative return Returns on investment losses and buying power if you want to avoid all of that and you say okay we had this experiment from 1971 to 2024 where we on a pure Fiat world we saw it wound up with $330 trillion in global debt it wound up with uh massive inflation it wound up with um a bloated
(38:25) uh socialist likee governments and the way to avoid that is to have a neutral Reserve asset that can't be printed um and you go with gold or you go with Bitcoin or a combination um I I see no way that these assets don't settle significantly higher do you see a scenario in which instead of splitting into two different Reserve assets serving two different parts of the world where you have a coal coalesence around one like Bitcoin I'm just thinking I mean that's one of the ideas that's talked a lot about in Bitcoin or one of the theories is that
(39:05) the gold standard fail due to the physical nature forcing the the physical centralization of the asset as the economy grows as population grows and you have so much wealth that needs to be represented in this very scarce physical asset and gold it just becomes very very hard to scale um whereas with Bitcoin since it's digital extremely divisible you can send it over the internet as much better suited to facilitate the amount of economic activity that's simply happening on the planet today because there a scenario in which both
(39:38) sides the western part of the world and the eastern part of the world wake up to this fact and coess around around Bitcoin as opposed to Gold well I I think you know that problem with gold about you know easy to send around and so on it might be a little overstated right I mean the the central banks would hold the gold at the Federal Reserve or they'd hold it in Switzerland or they'd hold it at the bank of England and the bis would monitor this the bank for international settlements the central bank for central
(40:10) banks based in bosel Switzerland and they would do the accounting to transfer you know gold from India to the United States or vice versa and then the actual you know transaction mechanism of these currencies which was backed by gold was you know divisible into dollars and pennies and dimes and and you could do Ledger accounting and and do things so that you know money was being moved more or less instantaneously without physically Trucking the gold from one place to another um that had its issues but you know it seemed to suffice at
(40:41) least I I think a lot of people were uh really upset with the gold standard during the Depression because they couldn't increase the money supply right they they they couldn't they couldn't take that gold and say you know we have a lot of money because gold it in the US was pegged at $20 an ounce and that was why you know FDR confiscated gold in 1933 that was why he immediately revalued it to $35 an ounce and therefore you know increased the money supply you know $15 out of on a $20 base that's a 75% increase in in the money
(41:17) supply overnight with the gold revaluation and so I think if if you have Bitcoin or you have gold as that monetary base there's always that potential to re value it right there there's always that that way where you know we're we just had a global pandemic and we need to increase the money supply and the way that that happens is you you you have a transa you're actually benefiting from having a difference between the Reserve Act asset and the transactional asset so the transactional asset what people get paid in what they
(41:50) buy stuff with can be devalued and increase the money supply in a time of you know Global Financial emergency but but at the same time Savers that own the gold or own the Bitcoin don't get devalued away which is what happened in 2020 right so we had a global pandemic we basically needed to print trillions and trillions of Dollars around the world no government wanted to tax people trillions and trillions of dollars and say we're going to take 15% of everybody's net worth instead what they did was they just printed the money and
(42:20) through inflation took 20 25% of everybody's net worth in order to pay for the covid response and so you hurt the savers um but you did get the money supply increase if you have a neutral Reserve asset that can't be counterfeited printed and you need to expand the money supply it it's beneficial to have a transaction asset and a reserve asset separated so that you can essentially revalue that transaction asset um and not be hurting Savers um that want to uh maintain their purchasing power interesting so how how do you see this
(42:56) playing out come inauguration end of January Trump gets in hopefully it seems very likely since we have the the Republicans have the house and the Senate that his or at least a lot of his appointments get confirmed into their positions what do you think the the order of operations particularly from the treasury is to begin enacting this policy to thread this needle MH well I think we're we're going to have Doge come up with cuts and in in some of the exuberance and enthusiasm for those I think you know Elon might find out it's
(43:37) harder to to make big cuts in in Washington than than put rocket ships on Mars but basically we we're going to have I think bessent as the puppet master of of all of this U behind the scenes whether it's um a new a new Financial system um managing cutting the deficit at least somewhat without tanking the economy and the stock market um and then you know starting to essentially put together the Frameworks and the channels for This Global reordering I think at some point it is going to require a summit um something G20 maybe bigger uh maybe some
(44:21) members will refuse to go uh because they want to you know be in a brick Summit but it's I think they there there's a good chance for an actual formal monetary Summit um the likes of which we haven't seen since Bretton Woods which was exactly 80 years ago uh this past July uh at at in in Breton Woods New Hampshire where people got together specifically to create the new monetary system post World War II and so where does this all end up so I've I've tried to lay out different scenarios things that I think are within the realm
(44:55) of possibility but of course I don't don't know you know I wish I did know exactly you know this is the path that I see has to happen I think there's so many moving Parts in it but I do think going back to to the beginning that the the monetary situation is more acute and more dangerous and more fragile and more precarious than any of the big parties want you to know it's a it's the same type of a situation in 2007 when you had Federal Reserve Governors coming out and saying the mortgage crisis is contained
(45:29) don't worry this isn't going to spill over into the real economy we've got it under control and lo and behold what happened and so I think you've got people saying look you know Paul says the debt levels are the debt level is not unsustainable but our trajectory is unsustainable that's his that's his go-to statement for it I think that we're we're getting close to a level a point where the even the debt levels are getting unsustainable and I think especially if interest rates continue to Rise um you know given the interest
(46:01) expense and so we're we're at that crisis point and so what I do see definitely coming um within the the the next one to two years is a major crisis point a a crisis point that creates a lot of volatility that creates a lot of some of the ideas I've been talking about getting out there into The Ether and really scaring different Financial players participants markets Sovereign wealth funds um pension funds insurance companies people getting scared um and then coming out of that some sort of a PR pragmatic solution that I think
(46:37) actually bessent has been training his whole life to kind of orchestrate like you know cometh the hour cometh the man type situation where you know the world is at a point where it I mean it's becoming household knowledge now things that you know I used to research and study and talk about you know years ago uncontrollable debts entitlements are going bankrupt um you know we're we're turning into a Banana Republic with our spending uh you can't trust the the purchasing power of the dollar all these things that bitcoiners and other people
(47:09) have known for years and years are starting to enter the household vernacular and we're coming to this point and and I think that's what's going to happen and exactly how that turns out I don't know but I do think Bitcoin and gold will be a part of it it could be that people start to realize hey you know us is is still going to do some trading with China and brics Nations and they're going to need and want to hold gold as a reserve asset for that but that Bitcoin is also going to come in and serve as a reserve asset for
(47:38) those countries that want to buy start buying into that um uh kind of mechanism uh who knows uh central banks could say you know what we like the idea of Bitcoin we're going to create a blockchain triple Ledger you know uh hard hard cap uh digital asset that's going to be a a central bank uh digital asset like a special drawing right that the IMF created um you know I think there are problems with that but I I do think there's just so many of these big unknowns that there's no way that once these things get start getting talked
(48:14) about in the open um and in the Wall Street Journal and on CNBC and Fox Business that they're they're going to Royal markets and so I think that Trump's inclination to keep the stock market going keep uh you know the economy at full employment is going to lead him to do things that heret for have been thought Unthinkable like significantly change the Mandate and interactions of the Federal Reserve and the treasury break that 1951 treasury fed Accord and have government much more involved with monetary policy
(48:46) the and yield curve controls um the these types of situations maybe even Capital controls on dollar exports and so all of these things I think are are kind of on their way and it's it's really going to be a pivotal time um probably like I said the greatest um monetary shakeup since you know 1944 is coming in the next 12 to 36 months in terms of breaking the FED treasury Accord what do you see being the potential mechanism to make that happen executive order bill that um president Trump sort of puts Into The Ether and um somebody from the house
(49:26) puts forward what what does that look like yeah so it it could be done in in a number of ways so you could amend you know the Federal Reserve Act of 1913 you could also uh amend it in ways that you know are a little bit more subtle increasing um members uh like like the Democrats have talked about increasing members of the Supreme Court you can increase members of the Federal Open Market Committee um currently you know you have I think seven govern ERS and six um Bank presidents that that that serve on that board if you expand it and
(50:04) uh allow Trump to appoint new Governors and then obviously in uh spring of 2026 he has the right to appoint a new federal re Reserve chair so if he gets to put in his chair put in Governors that are sympathetic to his Viewpoint I think he could do that I think if Congress um was behind this uh you could amend it uh by law um I think that the there's also certain things that the treasury Department has at its disposal which it has not used it has this as I mentioned the special fund it currently has I think um it's called ESF I forget
(50:46) exactly what it stands for it's got 200 some billion in it currently um you know these these types of funds could be expanded by pulling cash from the treasury general account uh what Senator Lumis talked about in her Bitcoin Act was essentially extracting money from the Federal Reserve by demanding that the uh Federal Reserve revalue the treasury gold certificates so it back when gold was around $42 an ounce I think the tra the Federal Reserve took custody of the United States gold and gave the treasury certificates that were valued at $42 an
(51:26) hour um Lumis says in the bill that to pay for the Bitcoin act she's going to demand that um she's going to have the demand that the treasury submit those certificates to the Federal Reserve Banks federal reserve banks need to issue new certificates at a market price of gold and then deliver the difference between that $42 an ounce and the market price in cash funds to the treasury and so I think there are ways without having Congress do it that you have the treasury use extraordinary Powers with which constitutionally it has but has
(52:00) not used um that don't require an amendment of the Federal Reserve Act but I think that could be on the table as well especially if financial markets um get to a point of Crisis uh because of some of these you know volatile uh you know these incidents that I think are going to spark this this volatility what do you think it's spark the volatility like liquidity crisis behind behind the scenes liquidity crisis um yields getting out of control dollar getting out of control um you know in 2022 we had the dollar Index at
(52:40) 114 and we had uh 10year treasuries getting close to 5% and obviously when when that happened it it triggered a lot of things uh it triggered you know a lot of banks um because they hold all these long-term treasuries that what like like their balance sheets are insolvent you had it Sil can Valley so Financial system instability so okay let like let's say that you had government you know within the president's power he's he's cutting spending and then at the same time you have uh you know tariffs which are causing you know different
(53:16) inflationary aspects for example or even Supply shocks uh or Goods that are tough to come by you have all these things that that that start happening that can also lead to dollar illiquidity so you know you can have these countries that have been doing a lot of exports to the United States not doing as many exports they still need dollars because they're still working within the dollar system by and large so how do they get those dollars they start selling treasuries this starts you know jacking up the dollar again jacking up treasury yields
(53:49) and again these things start to become a spiral and so there's a dozen ways more than a dozen ways that this financial instability can start to be sparked um by some of these actions that the president is able to take simply by executive order he has this broad tariff ability um he has the broad ability to cut government spending in different ways um so all of these things can start that chain reaction that then leads to the moment of Crisis that then leads to legislative will to make some of these dramatic changes including possibly
(54:22) amending the Federal Reserve Act so that's scenario is Trump admin sort of wishing for this this crisis to make these changes is does the do the changes necessitate a crisis to justify the tectonic shift that could potentially manifest MH uh I think if Besson understands and I think he does that there's a part of the global econom IC Financial order that literally has Gang Green and it is a matter of do we act now and put that tourniquet on and amputate which is going to be bloody and painful and a horrible experience or do we let the
(55:13) whole thing collapse and perhaps devolve into a real World War III we're kind of in the middle of an economic World War 3 right now do we do we go into a hot World War II do we let the entire banking Financial system collapse if the system is really as fragile as I think it is and that's the threat then all of a sudden cutting off that leg even though it's painful and causes this economic disorder and volatility and I think I mean you look at it you look at these Morgan Stanley strategists and everybody you know a year ago I was out
(55:46) saying look we're we've got so much fiscal spending we're going to have you know 6,000 on the S&P by the end of this this year probably 7,000 by the end of 2025 and all these you know big strategists were saying oh well the economy is slowing and you know the FED needs to cut and all this stuff and now they're all saying oh you know all these policies it's just going to be amazing year for the stock market you know 7,000 people are trying to up it somebody just came out today 707 as a S&P prediction for the end of
(56:17) next year when you start getting all of this mass bullishness and everybody's thinking that everything is going up and to the right I mean that's really when you have to start being afraid and so I've been very bullish on the stock market for a long time and I'm now thinking about cutting back some exposure buying uh puts doing some things that I haven't really been doing um for a while um at the end of this year early in January because I think once Trump gets into office um he needs to move quickly and and some of these
(56:50) moving parts are going to be a little jumbled before we get to the other end of this and that's where the volatility is going to be but they're going to be willing to pay that price because they understand if they don't do something about it um it it's just going to get worst and and there's no easy solution in sight how much of threading the needle do you think narrative is going to play into it like is there a situation which you can imagine in which the Trump admin I would imagine bent at on the tip of the spear here saying hey
(57:25) we're about to take some harsh medicine there's going to be some economic volatility and turmoil but it is very necessary do you think that is needed to to get through the other side because that's one thing that I'm sure the other side of the a will jump on immediately if it's not articulated and messaged appropriately by the Trump Administration is look what happened you voted in Trump he put in these tariffs he's making cuts and it's destroying the economy haha this is this is what you voted for um unless there's some
(57:59) articulate motivated messaging that is sort of choreographing hey we're making these moves there's going to be some turmoil but promise us or we promise you on the other end it's going to allow us to really set set things back to to a proper level a Sounder base and then move forward with more um with with structural growth that is actually healthy yeah I I mean I think it's probably the toughest leadership challenge you know since World War II is to lead the American people through something like this through a jarring
(58:37) monetary reset that's going to have you know potential uh significant negative consequences and it's going to require re-education and it's going to require politicking right I mean I think ultimately what what the Trump Administration will wind up doing is saying look it's the same thing with immigration you know there there's probably going to be a video at some point of something horrible happening with mass deportations I don't know what it God forbid you know migrants start deciding well if I get arrested in Texas
(59:10) they're going to turn me over to ice I might as well start evading police and a bunch of car chases happen and a six-year-old girl gets run over you know the left is going to jump on that and say see what happens when you have Tom Homan and mass deportations but why is that happening because they open up the border and let in 20 million people and we needed to do something in order to get these people out right and FDR did you know per capita you know it would have been 2030 million deportations uh Barack Obama did
(59:40) millions of deportations so but these bad things happen you know when you're trying to to fix things that are broken and so you know I think he's going to have to say look there these bad things are not happening because I'm fixing this these bad things are happening because this thing is so messed up that in order to fix it you know in order to fix your toilet we had to turn off your water supply for for a few hours in order in order to fix the financial Plumbing you know we're having to disrupt things and don't blame me
(1:00:09) don't blame the the Republican party don't blame the Maga people or America first because we're doing the hard thing to to to make this country better and put us on a firm footing you know blame the the money changers blame the easy fed policy blame the over Democrat spending blame the bloated social programs this is what got us into this situation and now we're having to fix it and so you know if he can do that effectively I think the American people in some sense for a while have been looking for a purpose you
(1:00:43) know there's a there's a little bit of a strength and struggle that sometimes occurs in people where you know kind of like after a Pearl Harbor Event whether you think it was kind of allowed to happen or not whatever it kind of galvanizes a population that really didn't want to have anything to do with World War II but it's like okay now we need now we need to do this right and I think there there could be a moment like that where the American population realizes hey this really has gotten so out of hand the only way to fix it is
(1:01:15) with pain and Trump is the only person that can fix it and we need to give him a little bit of leeway here even if in the short term it's not the most Pleasant um of experien yeah and that's why I actually think the Bitcoin strategic Reserve is top of buying for Trump you have to imagine maybe it's not him individually but people surrounding him and his administration have to recognize that Americans on a per capita basis own the most Bitcoin and most of the Bitcoin wealth in the world I believe not most but um indexing for
(1:01:53) every country I think the US is number one in terms of who owns the most Bitcoin on an individual basis and so in terms of manufacturing a soft landing and using the Bitcoin strategic Reserve as a a variable and a tool on the way to that soft Landing I think that that is a good calculated risk to take to to basically ensure that you have a a material percentage of Americans U being protected because the price of bitcoin's going up um and if that's happening those individuals are going to be able to go out and reinvest in the economy and and
(1:02:31) help rebuild things here domestically um I I do it's not hand up I'm a bitcoiner uh the shows about Bitcoin I run a venture fund focused on investing in in Bitcoin infrastructure talk in my bag here but uh outside of that like outside of my bag and my personal um incentives to push Bitcoin forward I mean I think think removing myself from that point of view and just looking at this objectively like it is a wise decision to lean into Bitcoin at this particular time considering the Strategic advantage that America has just due to the fact
(1:03:08) that so many Americans own a material amount of Bitcoin yeah and I think at the end of the day what we're talking about too is these monetary instruments are about kind of securing you know resources securing jobs securing prosperity for people and that we will get through this volatile period And I don't think it's necessarily a super long volatile period I think it could be a sharp period um kind of a shock to some people who think everything is going to be Rosy for the next 12 months but that I I'm talking
(1:03:42) about a matter of months and and and once once the just like the covid drop was like a 40 50% drop in the market and then it was back that when we come out of this and there the the mon the New Breton Woods occur or the new systems in place that it's going to also be matched with real industrial policy it's going like imagine there's yield curve control and interest rates are capped and we've got you know massive um onshoring going on because of tariffs and you know everybody everybody need everybody that wants a job can have a job and wages are
(1:04:18) going up maybe there like there's a there's a dollar revaluation here in terms of Bitcoin and gold which is inflationary but that dollar but but that wages are going up more than inflation maybe inflation runs at 7 8% but wages are going up 10 12% you know that benefits paycheck to paycheck Americans and that's a big part of the Trump Bas it doesn't necessarily benefit um Pension funds or insurance companies but if you literally have $200 in your bank account and you're living paycheck to paycheck if all of a sudden you get a
(1:04:50) 12% rise but there even though there's 7% inflation but you got a 12% wage gain in the past 12 months you know you're doing better and so there are ways to paint inflationary policies resets all these types of things where people start to understand hey this might not be great for corporate profit margins it might not be great for treasury bond holders but this is the right thing for America so that we can rebuild our manufacturing we can regain our sovereignty we can you know have a a happy thriving middle class where you
(1:05:22) don't need you know the mom and the dad working three jobs to toal and they're still barely able to make ends meet and going into credit card debt at 23% if we can get a country that looks more like you know a affluent uh middle class as the base instead of a a super wealthy Elite as you know spending you know trillions of dollars on you know Louis Vuitton bags if we can move more back into that manufacturing base of a country you know I mean this is going to be a great thing and ultimately great for the stock market I mean I could see
(1:05:55) the stock Market going down to four something five something on the S&P next year but then winding up by the time you know 28 comes around at you know 15,000 you know which might sound absolutely nuts but in a devalued currency um you know let's say we got a real doubling in the stock market so it went from 6,000 to 12,000 and then because of inflation and you know earnings are priced in nominal terms you add you know we could get some really crazy situations here um with you know multi advances in Gold Bitcoin you know who knows how many
(1:06:29) hundreds of thousands um and the stock market at 15,000 and you know a job for every person who wants it in a in a in in an economy that is leveraging the natural wealth resources Innovation that America has instead of having it being drained off in the financialization um of America which has happened for decades yeah I really like the idea of it being short too and I think that could be messaged appropriately too it's like hey we're gonna make these Stark changes there going to be some short-term turmoil maybe the next six
(1:07:06) to8 months are going to be a bit shaky but at the end of that period we'll be reset we'll be able to reset the great reset is here um we'll be back at a structural uh a Sounder base from which we can grow and I think terce I mean Trump joked about it uh on his campaign Trail Terrace is my favorite word it'll become your favorite word too and I think it's hilarious because it is becoming I think people are becoming re acclimated with the way terrorists can be used you have this overt um tax on on imported goods and
(1:07:44) American citizens do pay but it creates this incentive to build the manufacturing base but I think one thing about terrorists that many people underappreciate is just just pure leveraging um the pure leverage that they provide the United States and we saw an example of this yesterday I mean reports um from Fox News that Trump met with Justin Shau and basically threatened him with tariffs um in and asking Justin to justify why we're sending them hundred billion dollars year in and year out with uh that exchange not being reciprocal in terms
(1:08:18) of the value that we receive as a nation um I I think the the negotiating leverage that just threatening terrorist provides um the United States is something that people need to better understand as well yeah that we're still the biggest boy on the Block um and and I mean that's really what he's doing right he he's moving away from these multilateral International intergovernmental organizations and he's going at people kind of bilaterally and in bilaterally it's like there's no comparison right you know what percent
(1:08:52) does the US economy rely on Mexico and what percent does the Mexican economy rely on the United States and it's it's it's it's he's got the leverage he knows how to negotiate he has instincts that you know are off the charts you know and I I think he just knows he knows how to push people's buttons and get things done and you know nobody's perfect I mean sometimes things backfire I have some questions about some of his picks I'm not somebody that thinks Trump is a saint in the the next Messiah you know he's not a perfect person he you know
(1:09:23) I'm willing to let him make mistakes I'm willing to let him you know do whatever before I start you know turning on him and saying oh my God he's putting in deep State guys or whatever you know I'm willing to see how he's playing this because he's got a lot of balls in the air you know if he just didn't play any ball with the establishment I mean you start to create such a wall against yourself you know if you don't have a Marco Rubio in there if you just have all Kos patels I mean you you're not going to get anything done and so he's
(1:09:52) got to play the field right and and so I think he's doing that um and I'm willing to to to give him that benefit of the doubt that that he understands all these Dynamics um consciously or instinctually and that's what he's he's putting in place so I mean I'm positive about things I'm positive more positive than I have been because traditionally I've been thinking that there's no way that we were going to do the Gang Green amputation and the whole system was going to blow up and collapse I I thought it was going to happen sometime
(1:10:24) in 2027 or 202 28 around the time the Social Security trust fund uh starts to go bankrupt and you know that we're just going to continue on these massive deficits and M and and that we're we're basically going to head for a financial total collapse and I think we might have this like you said um a short uh period of volatility with some pain but a very quick v-shaped recovery that leads to kind of a Brave New World that you know a lot of Americans get behind and could even turn into you know a a longer period you know I think we could easily
(1:11:00) be looking at a 12-year period of of Maga type leadership in the White House and similar to um you know FDR um being elected four times being followed by Truman until finally Eisenhower a republican got in there a new American Renaissance would be great yeah I'm optimistic as well and I and I completely agree I think the harsh medicine needs to be taken and that that's what I'm most interested to see and I think Scott bent was a good pick and at the period of time when it was rumored to be bent versus lutnick um
(1:11:40) Howard lutnick uh big in the Bitcoin space caner fitgerald holds all the treasuries for tether he's publicly gone on podcast says he owns hundreds of millions of dollars worth of bitcoin believes it'll be billions of dollars at some point in the future and so many people are thinking like that's who you want as treasury secretary but when it comes to tact and um posturing letnik seems more like a bull in a China shot to me compared to Bent who seems not going to act like um some Scott bent uh historical uh expert and
(1:12:13) everything he's done but from the research I've done and the things I've read about him he seems very calculated cool Cal collected and methodical um in terms of how he goes about effectuating the the um the trades he's made historically or I think it's been very public that he's been in Trump's here for the better part of two years in terms of fashioning his economic policy on the campaign Trail yeah definitely and he talked in one of those podcasts his largest position gold I think I think he'll need to come around a little bit on the
(1:12:48) Bitcoin idea um I think that's not his you know kind of starting place of of seeing Bitcoin as a realistic um monetary uh Reserve asset for the United States but I just think Bitcoin and this is almost hard for me to say because I've traditionally you know been more of a precious metal guy actually uh I do own Bitcoin I own gold I own both but like Bitcoin just checks so many of these boxes not the least of which is that negotiating tool with bricks who have spent billions and billions of dollars buying gold in the
(1:13:22) last few years and just threatening to sell us gold to buy Bitcoin what that does to the Bitcoin price and does to the gold price at least in the short term as I said earlier I think it would be a short-term dip in Gold that this type of a rhetoric would would cause but that you know these types of things are almost irresistible to a guy like Trump I think to throw out there as you know outrageous things that just you know can really get under the um skin of some of these bricks countries which he's obviously not happy with yeah so how do
(1:13:56) you think people should prepare heading into inauguration well I mean look nobody has a crystal ball I I could be totally wrong what what I'm personally going to do and I'm starting to do is I want to lighten up on my risk um not gold not Bitcoin because I don't know this gold sharp selloff thing is going to happen but my Equity risk in particular and have cash um I think traditionally the end of the year uh people don't want to sell because of tax reason there there's a whole bunch of reasons why we're probably going to go
(1:14:32) up into year end here in the last few weeks of the year but I think that early in January especially if I start seeing confirmations like Market starts struggling in January to make new highs um you know certain sectors um that tend to lead uh heading into economic uh volatility start start performing well you know I'm going to be drisking building cash and then I'm going to be looking for like I said uh that that moment to pounce Blood on the streets I mean who knows if Warren Buffett's seeing any of this I don't know I mean
(1:15:08) obviously he's got a oil tanker that if he wants to build cash he's got to do it you know years or months in advance maybe maybe he sees something like this coming I don't know but but I'm I'm going to actually start raising cash which I've been pretty much 100% fully invested you know for a long time um and and trying to get myself ready so I think that's that's a good thing for people to do especially if they have a large amount of equity exposure um and if they don't want to sell at least maybe you know buy some puts because
(1:15:38) right now I mean volatility is low protection's cheap uh you don't want to start start buying those things if the Vic starts spiking to 25 or 30 yeah no this was great we got to do this more often July 2nd this will come out December say third fifth it's too long we'll have to catch up uh maybe at the end of first quarter next year perfect that that that'll give a chance to see if any of this is uh coming to fruition or if I'm going way off the deep end and if I am going off the deep end I'll be the first to admit
(1:16:15) it and say Hey you know we're not seeing any of this and the first quarter I think we'll start seeing the rippings of this by the end of second quarter I think we'll we'll really be getting into the thick of it awesome Mel appreciate you this has been great where uh where can people find out more about quas about your theories because you joined Twitter after last podcast or you became more active on Twitter after last podcast yeah exactly I had never been a Twitter social media guy I've I've worked 20 plus years in financial
(1:16:48) services uh CEO of three different broker dealers Venture Capital uh funded startups type things um and I wrote a book called quas It's a financial Thriller it's about corrupt Central Bankers it's about AI it's about the blockchain it's about uh Brazil and India and Russia uh conspiring to take down the Dollar's Reserve status um it's got a bunch of stuff in there that relates to what we talked about so people can search quas Financial thriller or go to my website Mel madison.
(1:17:20) com or follow me on Twitter at Mel madison1 uh and uh yeah I've been posting a little bit more I'm not Super Active but I'd never really posted anything until about 10 12 months ago and and now I'm trying to do some more regular insights um recently posted a piece on tariffs why they can actually be free markets um orientated um and and how Adam Smith looked at it so there there's stuff up there if people are interested go check it out freaks that's all we got today peace and love take
