The markets being as complacent as theyve been on all of Record Keeping that we have on hand once that volatility is introduced you to pick only seen the top of the market for stocks and now were in the bumpy ride part of the transition that typically precedes a bear market is this going to happen before the march the twenty first i couldnt tell you i can tell you that the focus is going to be on jay powell when he puts in his initial testimony to congress on thursday the twenty eighth well let me ask you about him and about the poem see a meeting and i know that it would be unfair to theres so many variables between now and the meeting but. Just say things were pretty much the status quo that there were no no new wage numbers that surprised people the c. P. I. Didnt you know bugaboo again. If everything was like it is now do you think we would be looking at a rate increase at the march meeting and how much quarter of a percent so im going to give you a roundabout way of getting to my answer of absolutely had it been had it been Alan Greenspan had it ben ben bernanke he had it been janet yellen on what jay powell first day of work was which witnessed a sixteen hundred point decline in the dow it ended up closing down twelve hundred any of his three predecessors would have come out and hit the panic button and said the Federal Reserve stands ready to act. You know what we heard from jay powell nothing not one word so i think hes already starting to command a presence and hes also announced to the market that even if there is a major slide and stocks between now and march twenty first that statement being released hes still going to hike Interest Rates in march probably also in june to help ok well and you know were were taking notes every time we have you on danielle and we we call your answer well we know we were there with courtney i was going to say as we remember your jay powell was not janet yellen clone and so that goes to what youre saying now well see more of that in the testimony coming up and well well see the poem see meeting in march danielle de martino both founder of money strong thank you so much for joining us again we sure appreciate it thank you appreciate it. Time now for a quick break but stick around because when we get back Jeffrey Tucker of the editorial director at the American Institute for Economic Research talks to us about crypto currencies plus the olympics are over will they have any Lasting Impact on relations with north korea and as we go to break here the numbers at the closing bell markets are all up. To next as are. Looking forward to a year thats the dow. This is what happens to pensions in britain delegates. Watched as a report. I played for many clubs over the years so i know the game inside guides. Football isnt only about what happens on the pitch to the final school its about the passion from the fans its the age of the superman each kill the narrowness and spending surge of the twenty million one player. Its an experience like nothing else on to because i want to share what i think what i know about the beautiful guy was great so what chance with. The base is going to. Join me every thursday on the alex salmond show and ill be speaking to guest on the world of politics Small Business im show business ill see than. What politicians do something. They put themselves on the line and they get accepted or rejected. So when you want to be president im sure. Most somewhat want to be preached. To going to be press was like before three in the morning cant be good. Im interested always in the lines of our. Question. On friday we reported the First Financial stakeholders to cut ties with the National Rifle association the First National bank of almost Enterprise Holdings Parent Company to the enterprise alamo and National Car Rental brands now car rental competitors hurts avis and budget also have ended their discount programs for n. R. A. Members and air travel delta and united it had ended their discount programs united had been specifically discounting travel to the n r as annual meeting other big names severing ties with the n. R. A. Include the Cyber Security company semantic met Life Insurance and simplest safe home security. The Supreme Court heard opening arguments today in a case that could deal a crushing blow to the Public Sector labor unions and the Labor Movement as a whole the case janice vs asked me local council thirty one could result in Public Workers who benefit from contracts to go shaded by unions no longer having to pay fees that are used to negotiate those contracts and represent workers the ruling in favor of the plaintiffs in the case could financially cripple Public Sector unions one of the few remaining bastions of organized labor in the United States labor was previously spared this blow when Justice Antonin Scalia died which left an evenly divided court unable to set precedent in a similar case Justice Scalia had since been replaced has since been replaced on the court by conservative justice neil who in famously ruled against a trucker who was fired from his job after he nearly froze to death while completing his job. Krypto markets are on the rise again with the top ten coins all in positive territory monday bitcoin has spiked above ten thousand dollars to ten thousand three hundred an afternoon trading thats a gain of more than ten percent up more than nine hundred dollars and twenty four hours. So will kryptos take off like they did late last year here discusses Jeffrey Tucker the editorial director of the American Institute for Economic Research jeffrey welcome back i want to get to your op ed in a minute but what do you make of these price moves. Its funny in the crypto space in the president everyones happy with their fall and everybodys sad you know we discuss these waves of emotion and its all fun we all know where this is headed up up up when how much nobody knows for sure right now when you wrote this op ed i want to read part of it to our viewers so you can explain it. You might be living in a time in which you will experience the end of central banking and perhaps even feel the currency and the replacement by a completely new system now you know deleted by question is a lot of times theres been sort of these out there statements jeffrey amy you have to admit on a bunch of things related to kryptos and i think if i had read this you know three years ago i would have thought you were you know. Twelve but that is worth discussing and im so sixty one yourself i know yeah i am actually believe it or not im actually a cautious writer i try not to say crazy things. But what i wrote that article i thought you know i just have to say it was true and whats true hair is that the central banking model is premised on two essential conditions one a complete monopoly over the money and two that all the money runs through the through the Banking System and that its controlled. From the center and so thats why in this piece argued in the monopoly is essentially to end central banking and i think crypto can do that is just a much Better Technology and were seeing that happen gradually in some places very fast in other places like venezuela which i think was the topic of that article well explained of that as well and model and whats happened there with the ball of our. Well thats an interesting case because you have a government tried to implement socialism which ultimately comes down to printing money its not a viable system and they destroyed the bowl of r. And the bowl of are just gone nuts right so youve got five digits six sometimes even by some estimates six digit inflation so its not a useful currency anymore and a hard fork or occurred in the bowl over so now the hard currency is worth three times what the Digital Currency is youve got arbitrage opportunity is there some people are selling their the for the Digital Currency and pay their bills you know with the Digital Currency and pocketing the difference to its just complete character chaos and so now the government found itself in an awkward position its like ok we destroyed the bowl of. The new currency so they came up with this fake crypto currency which they called the petro which wasnt really didnt really have a market valuation they floated and i see it just like they see everybody else doing in two thousand and seventy except they only as far as anybody knows the only buyer was actually the government itself and now theyre forcing government owned the Oil Companies to to accept it. Its Something Like a scam right but its an interesting model for how how. Government money system comes to an end. All right you know theres another thing that you said in the op ed jeffrey but itll get us actually back to prices and moves today you follow these things so closely but you said in the article two years ago bitcoin began to really catch on in the country but in two thousand and seventeen its popularity bumped into serious scaling problems that made it too expensive and too slow. For hand to hand used to explain what that problem is for us. Well in two thousand and ten one of the. Architects of because in this case the komodo actually imposed what one block block one megabyte limit on the block size and that wasnt a problem in two thousand and ten two thousand and eleven all the way until really essentially two thousand and seventeen when when when that when the currency really caught on and the network got so crowded that the miners were able to charge very high fees for sending or receiving which took away one of the benefits of a big client i mean i was a kind of a i guess and evangelists is two thousand and thirteen and my friends and i used to sit around and you know restaurants and cynical and back and forth to each other and just enjoying it you know the speed and the low cost of sending that all changed in two thousand and seventy in some ways it was a nice problem to have because that indicated the success of big client but protocol wasnt really prepared for the for the for the amount of Network Traffic it taste and so so this cheap fast model that we got used to suddenly was obliterated that caused a fork in the chain and suddenly big cash came about in august. With an eight megabyte block size limit was solved all the scaling problems but in the meantime all these other competitors came along and how you look at the the market for crypto currency theres Something Like a thousand cryptocurrency is and if you look at the entire crypto sector bricklin itself constitutes only as of today thirty eight percent market capitalization so but you know this is not just a reflection of decline success and actually in the mid haitians like i should say its what it illustrates is that were dealing with the technology of Epic Proportions and with so many different applications theres payment applications utility applications and very crucially theres security applications like to replace traditional ways of raising money for enterprises and thats why i think the real big mighty innovations are going to come in two thousand and late two thousand eight hundred two thousand and nineteen yeah i think were we are going to see some of that i noticed that we dont time to get into it now that switzerland has just put some protocols out for those initial claims offerings and i know that you see here in the states is trying to figure out how they go forward its going to be a process but at least it is doing so and jeffrey just before we go let me ask you you know now that we see prices again moving up and youre right everybody gets excited do you think theres going to be some of this fear of missing out this fall more with investors saying look if youre going to get back into kryptos better do it now before things before bitcoin gets to twenty k. Or something or you know how it is i mean when the president. Gets interested when they go down people think well thats x. So this is why theres a tendency on the part of the Investor Community the amateur Investor Community actually the whole Investor Community to to buy and sell so if you want to make money in this space do the opposite you know but knowing what the opposite is. It is the trick and thats why the really edgy smart entrepreneurs are the people with money well they always say buy the dip you have to buy the dip and not become a dept Geoffrey Barker of the durango and red haired enterprises sorry jeff we got it got to run thanks a lot for joining us well have you back your time its my pleasure. And before we go
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