[00:00:01] Speaker A: Welcome to Crypto Talk Radio, the podcast for everyday investors like you. Visit us on the
[email protected] and now here's your host, Leister.
[00:00:13] Speaker B: Thank you for that, Bailey. And welcome everybody out there in Crypto Talk radio
[email protected] it's okay to refer to me as Scrooge McDuck, although I don't have a money bin and I don't have that much gold. I am just so over the moon on gold.
I should say precious metals overall because I have variety. But geez, the price of gold, I'm going to talk about that a little later. Geez.
Also, separate note, you know games, I was debating offering, doing a partnership with a gaming company. They actually were, they reached out and I'm signed up. I just have not introduced it to you guys. If it is something of interest so it offer you discounts on games, let us know. CryptoTalk FM, hit the comment form and let us know.
Contact at the top and we'll decide whether that's something that we offer.
Because I, I do think there's a parallel, especially now. But it's up to you. If it's something that you're interested in, you got to let us know. You're not interested. We're not going to do it. But if you are, let us know.
Cryptocurrency is boring. Although stuff's happening, it's still boring to me. I'm going to talk about why I said what I just said because it might have confused some people and I think it's confusing a lot of YouTubers because it's kind of up and down flip flopping and the government shutdown is not helping the matters.
CoinDesk.com we're going to zoom out to the month chart and start with bitcoin because bitcoin was able to jump a little bit recently, back up after declining somewhat, started to go back up and currently about 100 and just shy 122 grand.
Looks like an upward trend from my eyes. It's hard to tell at this point, but it looks like an upward trend from my eyes. It did lose a little bit of the momentum that it had, but still an upward trend.
Then I looked at Ethereum.
Ethereum did. It's Ethereum's upward but not like Bitcoin tells me. It's possible everything's gonna go back down. I don't know for sure, but that's my theory. Just looking at the charts, I do think that the shutdown plays a little Part of that, I think the larger macro economics of things is playing a part of it.
I think sentiment specifically around what's going on with. There's a lot happening, if you didn't know there was so in boxing, right? The Saudis, they've in, they've engaged with boxing.
They've engaged with other sports as well. You know, WWE is engaged with them, comedians are engaged with them. The Saudis are kind of taking over all these different American things. And, and with like boxing, for example, it's money motivated.
But then wwe, why, I don't know.
There's all sorts of crazy things happening right now and less of a focus. I think, like the shutdown's been going on for a while and there's less of a focus on that than I would think there should be.
I mean, the politicians are talking about it, but it's not like it's. Again, I said to people, because they were asking about it, you know, the vast majority of people won't even know the same thing has changed. That's just the way shutdowns work. They don't affect the vast majority of people. They affect people that need assistance mostly and the military and certain like furloughs, right. People that are not paid and are expected to show up to work. And those people can choose not to show up to work.
That's who it really affects.
There would be downstream impacts on like businesses that depend on government services.
There would be some impact on the IRS to a degree, certainly an impact on office budget, management budget for sure. Parks, you know, so.
But vast majority, it's like business as usual.
And the shutdown continues because the Democrats are not going to let go of, know, trying to extend Obamacare and ensure that illegal immigrants are covered and everybody else, because in their mind it's like, well, we should be, we should be covering this and we've been covering this and why are we changing it?
And the Republicans are basically saying that's a policy difference, but it shouldn't have anything to do with the budget. You shouldn't hold it hostage because of the way you feel about that. We should continue talking about the policy things, but meanwhile we do a, continuing to keep the government open and there's no appetite to do that. Now. This hearkens back to Trump's first presidency where he said, I shut down the government border security. And Schumer said, you want to, because you don't get your way. You want to shut it down. We don't. And now it's on the other shoe. It's it doesn't matter which side you're on.
Both. It's like this is their opportunity to try to force what they want to force.
As a voter, you have to kind of decide which one is more important to you. Is it more important that everybody gets healthcare, including illegal immigrants, or is it more important that we balance the budget?
My stance, I think a balanced budget is critical. I think that the economy is important.
I don't like socialized health care because I see in other countries where the quality of it's terrible.
At the same time, I don't like to see the government shut down because I think it's stupid. I think it's stupid that we combine bills that way. I don't agree with this narrative that Congress can just shut down the government. When I say them shutting it down, I'm saying that they're the blockade. They can just block forward progress because it's harming Americans. And I think they should put something in the law that says that the reason for shutdown has to be in alignment with the voters, meaning that they have to put out a vote and have the people decide. And if the people say, no, we don't want your illegal immigrant stuff, then their Congress is disallowed from shutting down the government. They have to agree with the voters. That would be where you use popular vote right there. I'm cool with something like that because if it's like, okay, 75% of the country supports what they're doing. And it has to be transparent, not Chuck Schumer, just saying what it is. It's got to be written in black letters, a two pager. Succinct, to the point, no bias. Yes, it's going to increase cost by this. But here's the benefit. You get that kind of thing, present it to the voters, let them do a popular vote on it, because it's a contentious issue. Don't leave it to Congress that that makes them.
That beholdens you to their whims. I don't agree with that at all.
Because the downstream impact is what we're seeing in cryptocurrency is, you know, people are skittish and we don't see, you know, we're right at the cusp of something. And then we have this happening. And I can't say it's totally to blame, but it certainly has to be playing a factor given that. Then I'm going to repeat what I said on a past episode because I think it's important, although it won't be the focus.
I don't know if you've been paying attention to precious metals like I recommended that you do, but gold skyrocketed again over the past month. And I want to put this in perspective when I say skyrocket.
Over the past month, gold is up almost 10%, almost 400 bucks. It passed the $4,000 mark. Do you understand how significant it is for gold to have passed the $4,000 mark? I want to put in perspective what we're talking about here.
One year ago, almost exactly one year ago, gold was roughly. Not exactly, but roughly, you know, 2,500 bucks, 2,600 bucks.
A year later, it's jumped. Now you'd come back and say, yeah, but bitcoin, you're not wrong.
Bitcoin did climb.
But the difference is important.
And I want to stress that with bitcoin, it was under attack under the prior administration.
It's not under attack under the current administration, but it is now, I would argue, being influenced by traditional finance companies, they're influencing its price. It's not able to. Its volatility is nowhere near what it used to be. And that's because I argue all the different holdings that these companies have and then investing in ETFs and ETPs and. And their own investments, I believe that that's creating a stability.
That's certainly not a bad thing because I do think that there will be some increase over time. But you have to look into perspective during these times, like the shutdowns and war situations and, you know, the value of the dollar, the value of the yen, that recently had some issues.
During these disruptions, people, smart people, tend to turn to precious metals because, as I said, they are, generally speaking, a hedge against disruption and high volatility periods.
I think it's in my opinion that bitcoin is subject to high risk, not because it's bitcoin that's a factor. But that's not why I say that. I say that because the stability that I see, it could be a precursor to a bubble.
It could be a precursor to an absolute crash, you know, to where it goes down by half. Like, I'm talking significant because of the influence being imposed upon it.
This is not one where I'm saying, hold me, because I don't know for sure. I'm saying that I am uncomfortable myself for how long bitcoin's been sitting in this range, and it's a little bit higher than a range, but still, I would have expected it to be at least 130,000 by now, easy. I'm Talking stable, as in comfortably. And it's not.
It might be soon, but I would expect it to happen now for my personal lens. The rest of October, we have to kind of wait and watch. But just over the past month, gold was $3,300 in, in August.
Then September, it's 35, 36, 37, 38.
So I'm saying that the trend in precious metals specifically is strong right now, and I suspect it's got something to do with people trying to hedge. Silver.
Silver in August was 38 bucks an ounce. It is currently 48 bucks an ounce.
Platinum, Platinum, just like half a month ago was just shy of 1400 bucks. It's currently 1600 bucks. Going up, up, up, up, up, up. Parading in the palladium. All eyes on my presence. August, end of August, it's 1100 bucks. It's currently just shy of 1400 dollars.
The amount of money going into precious metals cannot be understated, cannot be overlooked. And I'm gonna recommend, once again, consider it an impassioned plea. As part of a diverse portfolio, I'm going to strongly recommend that you invest in precious metals. Whether you do it directly or you do it through an etf, I'm going to recommend that you get into precious metals. And I'll offer once again, if you are concerned or you're confused or you'd like some assistance like that, you know, have questions or whatever that is, we're here to help.
CryptoTalk FM hit the contact form. Let us know comments wherever this posts. And we're happy to help out. We're not doing it to make money off you. We're doing it because we do think this is one of those moments where money is going to start being shared amongst multiple assets.
Michael Saylor said something. I think he's an idiot, but he said something that I actually agree with for a change.
He said that bitcoin is property. And rich people, smart people that are rich, they don't. They don't hold fiat. They hold property. And that I agree with that. I wholeheartedly agree with that sentiment. Smart people do investments right in property, things that they own that hold value. Well, the. Where I disagree with him is I don't think that bitcoin should be your strongest property asset by any means. I think that real estate is a good asset depending on the area. Obviously certain locations are better than others. If you look like Texas, Texas just had. I don't know if you knew this. Texas just found a very strong lithium deposit that they're gonna. That they're mining. Right. And they're estimating that it will absolve themselves, the country, when they say themselves, absolve themselves from having to rely on Chanka for imports.
But it also will create a boom in a town that's essentially a ghost town close to create a boom. They don't even have a hotel out there. They don't have gas. There's no fast food. Like there's almost nothing out there. But what this lithium deposit, it's going to cause companies, they're already doing hiring sprees. The prices of homes are going to skyrocket out there. The prices of land is going to skyrocket out there. I'm giving you the inside scoop. I think in this area you might, you know, if you can get some land out there, geez, I think that could be a good something. That's what I'm talking about. With property and opportunities around these things that are being discovered and found as opposed to relying on, you know, savings accounts and fiat reliance. I'm not suggesting I'm a cash is king kind of guy, that. But that's for spending it, right? Right. Not for saving it. I think that value in property assets is number one. Absolutely. And I'm simply saying that precious metals should be on your list. That's. That's all. If, if you're not in it and you don't want to be in it, that's up to you. I'm still going to recommend it just because I do think precious metals are going to have a resurgence, strong resurgence, and it's going to be interesting to see where they go in their future.
Polygon is currently having a little bit of turmoil inside with his investor pool of people being pissed off about the inflation. If you didn't know, polygon prints like 2% so there's excessive printing going on.
The inflation made sense at a time prior to things like Arbitrum and Base and other chains that came and took some of the steam. The rise of Solana took some of the steam. Some of the ZKs took some of the steam. Bridge Cross Bridge Swaps took some of the steam. BnB's rise. BnB's been going crazy. It. I think it passed like 1200 bucks here soon or recently, all of these have taken steam. Phantom had to rebrand to Sonic because it was failing. And now Polygon's in the spotlight. Polygon is the one that had that snowflower or the sunflower rather game, garbage game that killed the chain for a point.
Polygon at a point had a lot of attention because it was one of a limited few of that type. So people were developing on it, there was a lot of activity going on and it was one of those active chains where things were happening. And that's no longer been the case. The investors now see a whole bunch of tokens just being printed, printed, printed. There's no demand, there's no buy pressure, there's just sell pressure.
The counter of this is that the validators, that's how they get paid. The inflation. The assumption is that it's going to be used to pay the validators, otherwise it's not going to be cost effective for them to run nodes. It's the same problem that Luna Classic suffers under.
You know, if it prints and prints and prints, it prints and prints. That's their profit on stuff. If it stops printing, that's no longer the profit.
Well, because of rewards, right. So Polygon, there's a whole bunch of back and forth going on right now.
My theory, I don't know for sure, but my theory is that there's likely going to be some sort of rebranding and relaunch of Polygon. I don't know and I hope not, but I can't think of any other reason, any other outcome.
Remember that Polygon as well was used to fork off to create Shibarium, which is ultimately failure.
That's why I have my theory. And it's only a theory. I have no evidence.
Earlier in September, the CFTC gave a ruling that opened up the doors for Poly Market. And if you don't know what Poly Market is, Poly Market is essentially a betting site. And you can use cryptocurrency to bet on all these different events. You know, like, when is the shutdown going to end? They had events around sports did events around into the war, events around, a whole bunch of stuff. And it's a betting site. It's what it is. You can bet you crypto. Well, they historically have not. They've been blocked in a number of countries, including the United States. The CFTC's finding opened the door for them to come back to the United States. Poly Market acknowledged. Yes, we'd like to come back to the United States. They put out an announcement, quote, poly Market will soon be available for US traders. We're working hard to get the US platform ready for launch.
So this would seem to tell me that it's not going to be the same experience that Worldwide has. It's going to be somewhat cultivated, maybe certain bets you're not gonna be able to make or something. But I still think it's good news. I think it's exciting news because Poly Market, you know, I've said crypto's gambling, roll the dice.
At least here you're truly acknowledging that you're a gambler, that you can get something out of it that you know may make some money on the side, especially if you're good at some of these predictive things.
I would, I would keep an eye on Poly Market, honestly, because I think it could be one of those big things and a true disruptor if it does it right to stuff like FanDuel and some of these other ones that they, you know, they're, they're there, but they're nowhere near what Poly Markets doing because again, you can do it on a whole bunch of different things. For example, they have stuff that says is Trump going to win the Nobel Peace Prize over Elon Musk?
You know, just hilarious stuff.
How many days will the government be shut down? Who's Trump going to pardon in 2025? CZ Binance or some other idiot?
When's Congress going to pass a funding bill?
Are we going to strike Iran? When will Trump pardon Ghislaine Maxwell or G. Lane or whatever they pronounce it, Maxwell?
Will this be the longest shutdown in history? Is Trump going to acquire Greenland?
What's another good one?
What's Trump gonna, Is Trump gonna talk about Tyler hall or Pocahontas in October? Pocahontas, of course is Liz Warren.
Just really cool things that I, I think it's fun. I think it's really fun and I, I, I'm cheering for it.
I'm cheering for it because I think it gives another.
This is a, it's not a utility but it gives more activity and use instead of stagnation in cryptocurrency, which I think we desperately need. I think there is an argument and a case to be made about using your cryptocurrency for something and I'd have it just sit there endlessly. Personal opinion I talked about up front gaming and again I was reached out to from a company that offers games where you get discounts on games. These would be PC games. I'm pretty sure if that's of interest you do need to let us know CryptoTalk FM, hit the contact form and let us know if that's of interest or comments wherever we record but you have to let us know otherwise I'm not going to do it separately. Somewhat related, but not really.
If you are on the gaming side, you may or may not be a collector of figurines. And you may or may not be aware that some of these figurine companies have started blockading their shipments. So they're coming from Japan, and Japan Post is one of the most notable shipping companies, and they have basically blocked all their shipments to the United States, as did, I think it was Britain or some other country stopped sending to United States.
Some of the figurine companies basically just gave up and said, oh, well, too bad.
Some have said, you know what, we'll find another carrier. It's going to be more expensive. We'll help share the cost, but it'll be more expensive.
And it's due to Trump's tariffs, because there's what's called a de minimis.
And what it basically says is that if it's under a certain amount, we're not going to charge a tariff. He got rid of that. So basically everything was going to be subject to tariffs that was coming in from these countries. And it just so happened that these figurines, vast majority of them are coming from Japan because that's where most of the creators reside. And that's where you're going to find more of the. The painters, you know, the. The sculptors. That's where you're going to find them.
Some of them have, like, local presence, like United States, for example, but they don't keep the figurines here. They ship them from overseas. And so a lot of these figurines were impacted by what happened with the Trump terrorists. So some of the figurine companies are working with the customers in order to provide them a way to get their figurines if they're willing to pay more money for them and they're even sharing the cost. Some of them are just saying, screw you, and they're holding people's money. I share this as simply a public service announcement. Tokyo Otaku is one, one of the more popular ones. I don't know why, but one of the more popular ones, they basically blocked shipments. They said, we're just not doing it. They have other shipment options. They refuse to pay it. So I'm sharing this because if you are one that orders from Tokyo Otaku shipments are being held, they're not planning to release them. They have a policy that says they will not refund orders. So even if it's not your fault, they won't refund orders.
They'll work with you. Like, if you escalate it, they'll work with you, and then they'll say, well, we'll do it, but we're going to charge you a fee for some of this stuff. Then if you escalate it again, they're like, okay, fine, we'll good do it.
Just I'm sharing it as public service announcement because if there are gamers out there, you might be part of that set that does figurines and you would be impacted potentially depending on your company of choice. You may or may not already know this, but I share it anyway.
Regarding cryptocurrency then I wanted to set that aside and go back to cryptocurrency quick for a wrap up.
I don't think, I don't think we're headed for a crypto crash per se. I don't think we're headed for a complete tear down. It feels like we're past too much of that.
That said, if there's some sort of financial disruption and I do think the tariffs could contribute to it. That's why I kind of interspersed the figurine thing because it got me thinking, well, if that can just disrupt a whole industry like that even, and it's just a shipping company Japan post that just said screw it, we're not going to do it.
But these companies choose we only going to use Japan post. We're not going to use something else, we're just not going to shift over there. Britain, I think it was that said we're not going to ship to us.
You could have some of these companies right now that are all in this with the bitcoin and everything that are impacted at some level by what's happening with the international terrorists and everything and then they end up tapping into the reserves.
It's something to think about. I'm not trying to tinfoil it, I'm just saying be thoughtful. If there was going to be a crash, be thoughtful about the reality of all these other macro events that could trigger said crash.
Not just something wrong with crypto, not like an SEC anymore, but simply a world event or something that triggers these companies to mass dump.
If that were to happen, I think it would be smart to buy discount buy on the dip.
If it's a known token, not if it's a garbage dog tone, you know, but if it's a known something that you know is going to recover.
If you see dip opportunities, take it. It's my point. If you're in it or want to be in it.
If you see dip opportunities, take it. Because I don't think any dip is going to persist. I think it's going to pass and I think it'll be Recovered back up to normal in short order. That's my suspicion anyway. I don't know for sure but that's my suspicion long term. Then I'm curious how the shutdown, end of the shutdown, whenever that's going to be, impacts the price. I would suspect that the end of the shutdown would cause a price decrease temporarily.
You might be wondering why. It's because the end of the shutdown doesn't. We wouldn't see anything happen. But it gives more service and information to like the irs.
The IRS is absolutely going to cause some dip because people often will sell their crypto to pay bills.
So I do think there's that not at a mass level but I do think it's going to be an impact. I think that the reopen, there's gonna be more SEC activity, I think there's going to be more exchange violations that might cause some dumps, some, some drops, not major crash but some drops. And again if it does happen, if I get it right because I'm straight line guessing on this one, it could be I'm flat out wrong. I'm straight guessing just based on my, my, my pulse on stuff. If it does happen again, I think it's strong, likely to be temporary and any dips and opportunities again. Buy on the red, sell on the green, buy dips and stack and realize major profit chances on the mains are long gone.
It's not there, it's not real, it's not going to happen. If you want to gamble on the dog stuff, the dog crap meme crap, it's up to you.
It to me, to me the profit potential at this point, the strong profit potential at this point is going to be in all the other assets that are not cryptocurrency in the next couple of years and then I think profit is going to bounce between crypto and non crypto assets over the next couple of years.
I think real world, not real world asset cryptos but like you know, real estate and, and those types of property investments I think are going to take the lion's share of that, of that wealth. I think as we get back to fossil fuel type things and away from green I think that's going to cause like you think about the oil industry that just was low profitability. I think there's going to be a spike over there dead on.
I suspect if there is any Keystone pipeline, which I don't know if there will be, Trump approved it but they don't have the funding or the capability. But let's say they Pull that out. I think there's opportunity there.
I think if they killed the, the high speed rail California, because it was burning money, they weren't getting anything done. I was watching that. I actually invested in that years ago. It was between a couple of regionals. Right. And it would have been a huge thing. And they sold everybody. I was doing options and everything. And I sold it, liquidated it. But at the time was invested, they killed that budget because it wasn't going anywhere.
Let's say they redirect some of that money into other forms, like other train type forms, but for like Amtrak. Right, right. Which has been struggling financially. And they approve it and they get it up to snuff and they realize that these planes keep crashing and, you know, the, the engine stuff. And so we need to have a local, regional kind of footprint. We need to be able to get from city to city without having to take a plane. And they offload some of the stress and pressure. Like there's also opportunities that, that might be an investment area. Real estate, the trains, the oil might be strong investment opportunities, you think?
Maybe.
And then what Trump's trying to do with privatization, he's trying to privatize Fannie Mae and Freddie Mac.
That's a potential investment opportunity, pulls that off the world. Liberty Financial, we talked about that one. There's all sorts of things that these become investment opportunities.
And my theory, and it's only a theory, is if a lot of these come to fruition, it's going to take. Because it's the same pool of money. It's not like we're getting more money in.
A lot of these are going to take away from cryptocurrency, at least in the short term, and then it's going to be bouncing back and forth. And then think about international, you know, Saudis and stuff, investing in these things, and we're going to see some pretty good price runs. It's my, that's my suspicion.
Oil is what I would look at for sure. Absolutely. Precious metals, I would look at for sure all these other things that you're hearing about that they're trying to create investment vehicles. I will look into ETFs, I would look into ETPs. Absolutely.
We're getting to a different world. Property is becoming the strong narrative, and I think it's going to be the strong narrative for the foreseeable future of the Trump administration.
Sam.
