The hardening of the peoples money in a time of hyper softening of money of infinite feel it and who steps into the rink into the big coin rink with all of the arguments that weve been making for the past 09 years about bitcoin here on the show well Paul Tudor Jones buys the queen with reminder of gold in 1970 s. Maclin best for Paul Tudor Jones is buying big coin as a hedge against inflation he sees coming from Central Bank Money printing telling clients every mind him of the role gold played in the 1970 s. He says quote the best profit maximizing strategy is to own the fastest horse this is incredibly big news Paul Tudor Jones is a seminal figure in the Hedge Fund Industry in the money manage an industry going back to the early 1980 s. Even before and hes got about 40000000000. 00 hes got a position now a big coin in the low Single Digits we know that typically his style is to scale into a position so i expect him to be 5 or 10 percent of that plus he is the ultimate alpha dog in the big coin space where he does. Every one of those 10000. 00 head phones out there will follow to some degree so now bitcoin is officially on the map the same at the same time that Warren Buffett kind of exit stage left everything thats old and not working anymore like warren is off the stage and for Paul Tudor Jones the circle has come full circle because when i started my career on wall street the early 1980 s. Walter jones was kind of the king of wall street at the time the invented this idea of the lone gunslinging heads fund moving markets up until then the Hedge Fund Industry was somewhat behind the scenes quiet not many people knew about it of course george soros and jim rogers had started the quantum fund very famous but jim rogers invented the idea really of the gunslinger who can come in a move markets and theres a great video of him on you tube if people do a search of him back in the early 1980 s. Its just him in his office who had maybe 2 or 3 screens or quote trances reached a call them and protecting on the world and winning no no no quantum physics just him and his brain and the world yes a single low single digit percentage of his assets isnt big quine futures thats one of the biggest hedge funds to get involved openly anyway so many behind the scenes might be involved they claim but this is again you know its just low Single Digits of his portfolio but its a mammoth portfolio so this is the sort of money that weve been saying since 20112012 i think you can find out onto the move in our series where old clips of our show where you saying that once the hedge fund money comes in you were talking about this with Barry Silbert for example you know this is this is going to be a game changer and the reason why is because of what weve been covering here for the past 10 years as well is that this thing will implode all of this money printing all the feet out printing all the softening of money and it gets softer and softer well thats going to all blow up and buy his cow. Elation 3. 00 trillion dollars of money the equivalent of 6. 6 percent of Global Economic output has been printed since february quote it has happened globally with such speed that even a market veteran like myself was left speechless jones 65 wrote we are witnessing the great monetary inflation and unprecedented expansion of every form of money unlike anything the developed world has ever seen any made the perfect comment he made one comment one sentence that is the most intelligent thing anyone even in the big coin space has said simply that bitcoin now reminds him of gold in the seventys yes ok what does that mean well gold one from 35 dollars to 800. 00 hes buying bitcoin in the 8. 00 to 9000. 00 range that would be equivalent to buying gold at 35. 00 an ounce thats true because just as gold made a 45060. 00 x. Return so will bit coin remember my target was raised 1000024000 extension 048 big coin a couple of months ago based on its equivalency to gold as i stated implicitly at that time now polter to jones or p t j p t j as hes down to the digerati and the illuminati not really b. J. Like a peanut but i dont like a Peanut Butter and jelly sandwich right he now has put a stake in the ground and said look im going to be rallying and he would be d saying this unless he was ready to pull the trigger in a big way and so this is the beginning of the massive run 2100000 beyond this is now the beginning i think a lot of peoples faces are going to get ripped off. Just just torn right off their face peter schiff obviously its got a massive this going to have to explain to his clients over there europe what the heck hes been talking about up there we go this also importantly comes just days after or moffat went on to stage on his own and the sad spectacle of bet. Against america by accumulating 138000000000. 00 in cash or 137000000000. 00 in cash finding nothing worth investing in and hes just too filled with pride to admit not only did he get gold wrong and bitcoin wrong but he doesnt even have the ability to understand the market as it is even the market as it is Warren Buffett made mention of the fact the same fact that Paul Tudor Jones just made there of the fed printing so fast and that this is never been done in modern history and therefore hes looking to the seventys and what gold did as a protection against that Warren Buffett identified that same thing that this is unprecedented and just took his toys out of the market and went away because he doesnt know how to even play hes hes too scared perhaps to even go along that corner gold but where this is going in terms of the the great. Softening of fear its the hyper softening events we see going on heres geoffrey going to lock these trillions treasury is borrowing is heavily in t. Bills chairman powell has stated in plain english he is opposed to negative Interest Rates yet the pressure to go negative on fed funds will build a short term borrowing explodes and dominates please no rates less than 0 equals fatal what were talking about here is Paul Tudor Jones when you start with the seventys and gold the u. S. Went bankrupt in 1971 when they failed to pay their International Debts in gold as the contracts originally had stated they just paid them back and what theyre saying now if the u. S. Goes negative on Interest Rates and jay powell is saying he wont do that but hes been forced by the market to that thats the end of even the fee up world so who knows what happens its going to have to return to Something Else right negative rights are coming and a lot of people say well you cant go negative on the World Reserve currency they also said you could ever print a negative Oil Futures Contract then said you could never print and negative Interest Rate on a sovereign bond thats already happened and think about one by. For a 2nd i mean i pity them at this point because he says he doesnt like stocks and hes hiding on cash but his cash is about to go negative returns from negative Interest Rate on his cash thats going to be losing money on his cash pretty soon and he said i would never own gold and i would never own big quite so the only 2 life boats for Warren Buffett at this point are gold and decline and hes out of pride hes going to stick on his negative Interest Rate cash and he wont buy stocks so hes already underperformed the s. And p. For 15 years shes going to end up his career as basically a glorified Money Market Fund that was a round trip to nowhere that everyone will just forget about as the hardening happens as you have gold and bitcoin rise in price and harden in price and hard in the quality of money that it is for the ordinary person you see a lot of scam stores emerge so you see all these people pretending to be max kaiser for example on twitter and people are following this fake max keiser and then there he sends a message is asking for bitcoin thats a common scam that happens in big kind in the hardening of money you see the hardening when when they see same in gold in the gold market penny stocks sort of pump and dump emerge there but with the softening of money you also see this sort of the explosion and scam stores as well because the the free money from the fed feed so many of these people so i want to look at this headline here about private equity and those very well connected these guys k. K. Are Blackstone Carlyle group all these massive private equity funds that tend to hire a lot of former secretaries of state a former president s and Vice President s so they have a lot of those sort of people on their board as a Record Number of Companies Fall into the lowest rungs of junk. Moodys finds that the bulk of them are backed by private Equity Companies so why is fiats why is the us dollar becoming so soft and junky itself because this latest round jay powell he doesnt want to go negative right hes bailing out the junk bond market that this is the 1st time knowingly are out in the open that the fed is doing that right well private equity as a term is a rebranding of what when Paul Tudor Jones was active on wall street in the eightys and clearly making his bones we used to call green mail always to call hostile raid. And a big got a negative terminology the movie wall street came out and Michael Douglas played a corporate raider and you know they say and i was you need to reprint the corporate rating so its caught you know private equity and of course a mitt romney out of being capital cherokees also private equity asset stripper that was also a term used frequently to describe whats going on here so private equity is the new softer version of what is essentially asset stripping or a Leveraged Buyout Fund and so Leveraged Buyout Fund is the fund like mitt romneys bain capital what pledge the assets of the company they want to acquire as collateral for a loan and then they take that loan they buy the Company Split it pay back the loan and whats ever left over they keep and 1. 00 of the most prized objects of a leveraged buyout is the pension fund so for 203035 years now these assets strippers and private equity guys have been acquiring huge corporations with borrowed money and then dissolving the pension fund and firing a lot of people and they raid the pension fund in this way and they steal Peoples Pension and then the fed comes in and hits them again by lowering Interest Rates to make it possible to acquire a borrow the money to create a hostile raid and now on the money left over you cant get anything in a bank account because 0 percent is not common on a money market account right. So thats the private equity game but it is centrally transfers debt for equity you take a viable corporation with profits and revenues and pension and savings you strip it and you load it with an incredible amount of debt and now when you cant pay that debt it should go bankrupt because its in a legal form of market manipulation and profiteering that should not be allowed but was allowed to grow and you give it a huge federal bailout to make whole the asset strippers by the way that is why we are at the point where jay powell is bailing out junk around the world and in the United States especially because the junk the cation of the American Financial and Economic System was due to the private equity model back in the seventys and eightys that 1st started hollowing out a company hollowing out the Balance Sheet and leaving just a carcass thats the Warren Buffett model thats Paul Tudor Jones big gold is the future right Warren Buffett mitt romney out Paul Tudor Jones in are you going to take a break when we come back much more coming your way. Seems wrong. But. Just dont call. Me. Yet to seep out the attic. And in again. When something find themselves worlds apart we choose to look for common ground. God. Why. You cannot be blown with yet you like. My eyes. Welcome back to the report imax keyser time now to turn to dan held over there a crack in full disclosure stacey and i are both early investors and crack and jam held welcome finally to the kaiser report x. Thanks for having me on have been looking forward to this as this airs the bit coy having is either happening or has just happened we are pretty recording this so we wont know the actual price or hash read response etc but what do you predict for some of this short and medium term consequences of the having right now this has been is very very special compared to the previous happens that occurred in 2016 in 2012 with this have been we have the macro backdrop of Global Financial crisis i mean you have probably the worst financial crisis in over 100 years and so decline this time you know between a special corpus built to be a new sound money a new gold or no and so that message resonates really really loudly with a sort of macro backdrop so you know for the short to medium term i think were seeing a lot of were seeing a lot of investor appetite for this new house that we had Paul Tudor Jones today announced hes allocated low Single Digits of his fund 80 women into becoming which is a huge social validation metric for this asset so i think the big crying word you know is right now its on the verge of 10000. 00 i think its a perfect setup for a big bowl run ive been in for a long time i know you have to me been around since i was a dollar 10 dollars and to see it at 10000. 00 to use incredible its revives on but i think the best is yet to come lets talk about politics counts for a 2nd so up until now weve either had made some economists like nouri al rabbani paul krugman trash talk but coined weve had most people in the gold. Sector kind of trash talk bitcoin couple of wall street people like peter schiff have come out and hes been trash talking bitcoin one guy that is a wall street or a hedge fund or. You know a couple of them have come forward and they have done theyve dabbled in big but weve never had wall street royalty like Paul Tudor Jones who virtually reinvented the hedge fund in the early 1900 86. 00 step forward and say this is going to be the fastest horse in the race as we revisit inflation due to this massive money printing and as you point out big corning was purpose built to handle quantitative easing and irresponsible central bankers with the hardening which is another way to say the having would you agree with all that absolutely if you know as you re single government and central bank across the world is doing the quantity of using weve got quantitative hardening happening with because. For those who dont know is the moment when because i know thats issuance reagan newly minted big. House which is coming up here very shortly on the 11th or 12th and this is a monument just moment because that brings because. Lower than the u. S. Dollar in gold now that is a little bit you know for those who might be a change of sound exactly correct a little bit of nuance whether to call the inflation rate or issuance rate the trend is your friend as they say in Money Management business lets stick on Paul Tudor Jones a little bit he said this is like buying gold in the 1970 s. So gold of course made a move from 35. 00 an ounce to 800. 00 an ounce you could extrapolate from that statement that he thinks that because when it 9 or 10000. 00 or higher a coin is like buying gold at 35. 00 an ounce so hes looking for a 40 x. Return that would take a sense of the 400000. 00 down which would give it a market cap in the multitrillions that would be a para pursue with gold and i think thats where were going in other words i mean. Asked as to his statement its the fastest horse in the race on the reflation trade so why isnt he buying gold because for every dollar in price appreciation of gold you get 35. 00 to 40. 00 of appreciation a big point dan what do you think your coins return per unit of risk is phenomenal this asset was really tiny you know the market cap is miniscule right on the markets around you want to be underneath 1000000000 this is tiny compared to cold indeed coin used to find is gold 2. 0 im so. Very much will be a contender for gold once it hits 100000. 00 to 400000. 00 thats not necessarily what im calling the top that makes it just a contender a new world renowned or will recognize store of value so were very you know very much in the early stages of that option now lets move over to some other major news that hit the tape recently iran is now getting in on the Bitcoin Mining game ukraine has also indicated interest in mining so lets give a big picture here because within the protocol as it was birthed that the genesis bloc january 3rd 2009 was game theory baked into the protocols cake and it played out in the mining business we saw the mining sphere of mining influence jump around the world from Eastern Europe to china to iceland and it seems to this game theory plays out in the Mining Sector it plays out in the whale sector you know certain people are accumulate are not accumulating the kind of playing a game with each other theres a certain game theory but that game theory baked into the big protocols doubt jump to the nation state level with iran ukraine who have been squeezed out of the forex market because the us dollar is cents or a ball the us dollar is confiscate all these are things that you dont find a big calling is the fact youve got nation states now dragged into the big point gay. Fairy going to be in a pocket a vent in your view also dan between game theory essentially dictates that you know every single state right now kind of bows down to the dollar the dollars the World Reserve currency out there you know and with the quiet now now we have an incentive for people to become confederates to break away from that global standard adopt this new what ones that were previously pushed out of the you know sort of control that the u. S. Had over them or control or really you know the u. S. Financial system so you know with big crying we now have an option for these nations day so then go take the big points and youre going to have that be aired their currency or are that there are a few. In the incentive is that if they get in early theres a priest appreciation of facts who are if they get in early the course appreciates now a small country like you crazy could be enormously wealthy and so these are really really interesting game theoretic plays here you know because as i like to put it a coin is just code that that enables game theory to work the way the different participants in the big Crime Network are incentivized and how because it has grown as largely been a factor in syria baked into the code along with the toshi playing as a very basic human assumptions like humans would be greedy and so i think the corn is well positioned and this is sort of the you know for those who watch game of thrones this is a this is kind of like the final game this is need this is the chair you want to sit on and becoming has made it to that final and i think its incredibly not waited 8 years to see this moment so i think its going to be a wager essays that come out often and that date that while thought out there well researched and you have really done again to some of the nuances of decline of the protocol i want to ask you this question however to wakes there is whats called a difficulty adjustment and this seems to be the big quiet protocol and kind of almost as some would describe it as a living organism in other words its. Joel and a lot of ways and if it is a managing to. Thank all k. Itself within the Global Economy by some very Interesting Technology within is this i just want to question if it difficult the adjustment and i know people have been right writing about this i think maybe even you wrote about this does it equate to some degree to a living or going to a living organism damn yes so i wrote a series called claims in because there are big points of origin story that soto shes brilliance wasnt just in this species of new money that he chose to finance but he was the season this wild garden techniques and so when we look at crime and we look at some classical definitions over what you know what what he orders them is there are some interesting characteristics in terms of adjusting energy and reacting to that in just a dingy because according miners and just electricity yeah through crucial work they used to enable the recording botching to function that this kind of glossing over a lot of the technical stuff but just for specific purposes and between reacts to external factors so it does that you react it has stimulus to you know if you can react to changes that happen to it it also attacks sort of all because code isnt static it does change over time to enable new features and new functionality theres a really interesting term that take the brain in quidam came up with which is called i dont think it came up this term but he made me aware of it called horizontal gene transfer so from guy right actually able to ingest the d. N. A. Of other organisms and splice that into their own and so they coined does that decline takes d. N. A. Or code snippets or different feature sets that are advantageous for survival as a money and you can take that from other learnings of other Crypto Assets or less and you can modify itself to survive so you know because it is sort of he x. Creditor money just like you say think local economy and Financial Markets and forex markets being transformed by the presence of the hardest money ever now. And in history we also see a incredible disruption in the Energy Markets right now and getting back to this nation state question what if a country like iran says you know what were going to dedicate huge state resources and move them from Energy Extraction to mining back calling because we could be going from a petro dollar world system to a big coin currency a world system is that a possibility yeah this is where you get super interesting because nation states typically are the ones who. Go forth and do really big Energy Projects like solar hydroelectric cetera and for them theyve got just pretty much risky sources that are sometimes left on tapped so what do you do with all that free your very very cheap electricity and you can get coins that and with that you can now make your own money that is a sovereign money that no one else can touch the United States or russia or china they can influence and you can take that money epic when youre able to use it whatever fashion likes of it does give the states who have Energy Resources to help them exit you know us as you. Mentioned system so let me get your comment on this show or false and then you can speak on it big cohen separates the state from money then true that is the exact purpose as it so she built this for as he says the core problem a Central Banks in banks are bet they require trust to work we must trust that Central Banks will not print more money we have to trust the banks will lend out money too much you know too much of a too little fractional reserve requiring resets all that and big point is the new money that is trust us it is require you to trust anyone else lets say the u. S. Gangs up on decline or they get the u. S. And Great Britain and some other countries decided gang up on britain and they decide they want to control bitcoin but is the truth that that would only make the halfrek go higher which would make the security aspect of it increase which would make it more valuable as a safe haven which would drive the price higher and that its a lose lose game for that dan true it is certainly a lose lose situation for me. States you can either attack it so that would be trying to disrupt a protocol but by doing that they would recognize that theyre scared of it which all the see out in the world is basically built on confidence we are confident in control this would indicate that theyre not in control now conversing the scenario that you came up with which is them buying big corner my minute yes that does increase the current security so by participating or money never by and or trying to control it essentially boost security which makes it harder and harder to attack so as you can see fractional networks are awesome danielle thanks for being on the kaiser report thanks for having me max well thats going to do it for this edition of the kaiser report with me max kaiser and Stacey Abbott want to thank our guest dan held of crack and thats dan held h. E. L. Day and i want to catch us on twitter its kaiser report that i buy off. Is your media a reflection of reality. In the world transformed. What will make you feel safe. Salacious or community. Are you going the right way or are you being. What is true what is fake. In the world corrupted you need to descend. To join us in the depths. Or remain in the shallow. Descriptions sound appetising even for the owners so how to choose pet Food Industry is. Telling us what to feed our pets really more based on what they want to sell us than was necessarily good for the patton turns out to pick fruit may not be as healthy as people believe and we have animals that have you know diabetes in arthritis they have auto immune disorders allergies we are actually creating these problems its a huge epidemic of problems all of them i believe can be linked to fairy simple problem of diet and some dog owners so heartbreaking stories about their pets last treats the larger corporations are not very interested in proving or disproving the value of their food because theyre already making a good 1000000000. 00 on it and theres no reason to do that research. Bought in to you will you. Please do you think this is a real or operation or dying why are some of the wealthier neighborhoods its been far more contained in the numbers are much lower than some of the more neighborhoods were working with green sources outside of their lives theyre just so d if theyre here its all you got it is. I think its safe to say that the 19 will be remembered the world over as one of the most trying things of 2020 by the end of march the country hit the hardest was the United States and they were sitting in front of. My friend maria lives in new york ive asked for its record a bit of her life during the pandemic. Hi my name is maria adams she i am not talking to you. Which is global at the center of. The democrats. In the park. Is a little bizarre because. World where we feel very isolated were working from home but were still working and then theres the other part of
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