S3 E8: Is Bitcoin the New T-Bond & Gold the New Dollar?

As a tsunami of "supply" rolls towards the shores of the US Treasury market ... it’s hard to envision how US Bond yields don't rise further unless, or more realistically until, the Fed takes action, taking the 30-Year T- Bond above 5% and calling into question the underlying "credibility" of the US Bond market.

Indeed, the top-down secular fundamentals for both the US Treasury market and the value of the US currency is DECIDELY BEARISH, as it pertains to the Debt Black Hole the US has entered.

Oddly enough, Greg has noted a "tight" and intensifying positive correlation between the yield on the US 30-Year T-Bond and the price of Bitcoin.

In fact, the ONLY time BTC (spot futures) has been above $100,000 has correlated with a move in the US 30-Year T-Bond yield above 5%.

Moreover, BTC is breaking out on a long-term trend basis versus the 30-Year T-Bond (price) and has reached a NEW ALL-TIME HIGH versus the Treasury market AND the US stock market, on a Ratio Spread basis.

ONLY Gold is holding firm WITH Bitcoin...precisely as Greg has been highlighting for months.

Find out WHY Greg asks the question, Is Bitcoin the "new" T-Bond, and is Gold the new "US Dollar"?

And find out WHY Greg believes the simple "math" is MORE than the Bond market can handle and could be THE "cause" that drives the Fed into acquiescing to higher inflation, to protect growth and the Bond market. 

Transcript

Is Bitcoin the New T-Bond?

Speaker 1 0:00

A new edition of the Money Markets and New Age Investing podcast. It's season three, episode eight, and today might be the most interesting and exciting at least for me to do it episode we've done yet. Asking and not rhetorically. The question is Bitcoin, the new T-bond, and gold, the new dollar. I have come to believe there is a correlation between Bitcoin and the bond market. The 30-year T-bond getting above 5% in the yield corresponds, coincides, correlates to the price of Bitcoin in a futures market getting above $100,000 per coin. So it's straight up. And when you look at the ratio spread, bitcoin is in a major bull market against the 30-year T-bond price and breaking out to new highs. It's interesting to think about, okay. Well, of course, greg, it's not a bond. Yeah, I get it all right. It's a little bit tongue-in-cheek, but not that much tongue-in-cheek, because if you really think about it, what's the bond? It's an IOU From a country that's insolvent, can't control their spending, is spending twice as much as they earn many, many months out of the year, to the degree where now you know, debt is $36 trillion, where household debt is $18 trillion, old-told is $54 trillion.

Speaker 1 1:18

It's almost double GDP. You can't come back from that. It takes more debt to create growth, you need the growth to support the debt. It's that simple. And when you're in that situation, you want to buy a bond and get paid in another piece of paper. That's another IOU, that's the dollar now An IOU just like a bond. It's all the same. I promise to pay you back. And what's interesting in that currency that they're going to pay you back in? Of course, they're depreciating and debasing and devaluing the purchasing power of that currency every single day.

Speaker 1 1:50

So why not Bitcoin? You know safe haven, liquid in and out, fast blockchain. You know you can. Really, in terms of seeing where it is, in terms of having some degree of safety, and it's not backed by any government, it's not saddled by any debt At some point there's limited supply.

Speaker 1 2:08

I kind of like it. I mean, maybe it's too simple, maybe it's just downright crazy. I don't know. I've been called crazy before. I'll be called crazy again.

Speaker 1 2:16

Crazy is good in my book when you pick up something that maybe has a sliver of a chance to become the next reality. That's what I learned to do in the big hedge fund that I worked for in New York Sit around and what if it to death? That's what I do. Find the risk, find a potential reward what if it to death? And then, when you see things start to develop in the way you thought they might, you jump all over and you pounce. You're ready to go.

Speaker 1 2:46

We're ready to go with this today because this again you're going to want to get the charts from today's. I put them together special for this. I'm virtually going through them as I speak to you. All right, there was literally 59 charts and 63 pages. A couple of cover pages and 59 single page charts, easy to read, really macro stuff, all the stuff I'm going to talk about right now. You can find a chart in this package I put together for the podcast audience. Email me to get that. Greg Weldon, g-r-e-g-w-e-l-d-o-n. Greg Weldon at WeldonOnlinecom, straight up, email me. It's yours Trying to help people. And when you see the charts, I can sit here and throw trillions of dollars and hundreds of billions of dollars, and it doesn't have the same impact when you're looking at a visual that is guttural, it's visceral, it makes you feel exactly what you're seeing and then you understand this is not sustainable.

Speaker 1 3:38

We're in the debt black hole. There's implications and we're about to talk about them. Let's talk about the bond market, which, of course, we have to start the US budget. I just passed another package on Bloomberg. This is interesting. A Bloomberg article said it's going to increase the debt by $3 billion over a certain period of time and I said to myself this is part of the problem. $3 billion, $3 trillion, these are just numbers. People don't get it as to the magnitude of the math that is involved going forward to have to keep pace to make sure growth doesn't pancake, because then you can't service the debt and it's a debt deflation and central banks will fight that every single day of the week. That's why you're going to have higher inflation. That's why we're here talking about the Fed.

Speaker 1 4:22

But in the budget, in the first seven months of the new fiscal year ending September, so we've got five months left, first seven months. The number two expense is interest on the debt almost $600 billion, two-thirds as much as Social Security at 907,. Higher than health care defense veterans at 907. Higher than health care defense veterans and education by far. Alright In that context, and here's a I never heard anyone talk about this. Alright, but public borrowing well, of course most of this debt is financed by borrowing from us. I mean it's public debt that then they borrow from us and then they sell it back to us, and we'll talk more about that in a minute. How crazy hair brain scheme. That is All right, but in their public borrowing they lay out in the budget how much they're going to have to borrow from the public year ahead.

Speaker 1 5:12

So last year it was $1.695. This year it's budgeted at $1.9. All right. So, first of all, it's a 12.2% increase year over year in borrowing from the public. 12.2%. That's higher than any other statistic. Inflation, growth, retail sales, labor market is the public borrowing is double any other real statistic.

Speaker 1 5:33

Number one, number two 1.9 billion. Excuse me, one point. There we go. See, I did it myself. 1.9 trillion, because you can't believe these numbers. We're talking trillions.

Speaker 1 5:43

$1.9 trillion they have to borrow in this 12-month period. Well, the first seven months, 58% of the time, they borrowed only 28% of the total. In the first seven months, out of $1.9, they borrowed $550. That leaves $1.4 trillion. $1.4 trillion in the last five months. That's about $270 billion a month, on top of the fact that the Fed is running somewhere gosh, I don't know over $50 billion a month in the QT. And that doesn't include new debt, that doesn't include rolling over old debt, which is going to be enormous. Wait till we get to those statistics on the debt coming due. This is just new debt that's already been budgeted is being spent as we speak.

Speaker 1 6:32

So let's talk about the Fed and QT and QE. All right, all right. The QE to March of 2022, all right. That brought the Fed's balance sheet to a total of $8.96 trillion, almost nine trillion dollars from february of 2021. That's an increase of 3.4 trillion. All right.

America's Unsustainable Debt Crisis

Speaker 1 6:57

Now you talk about the december q, the run from qe1, and it was 1.4. The run through to QE2 and QE3, which ended December 2014, was 1.1. So we're talking about the pandemic about three and a half times anything we've ever seen before. Now, the degree to which they have drawn down their balance sheet it is down by 1.2 trillion, and the last number on a rolling 12-month basis on down their balance sheet, it is down by $1.2 trillion, and the last number on a rolling 12-month basis is minus $6.10, around $50 billion a month. So you throw that with the $2.70 in public borrowing, that's $320 billion. Right there you've got to come up with every month just to keep things even, and that's just again, not even including refunding. That's without new debt, I mean, or old debt. The balance sheet now at $6.7 trillion, okay, it's still up over $3 trillion from where it was before the pandemic. So that's $3 trillion the entire time from 2018 to 2015,.

Speaker 1 8:02

Qe1, qe2, qe3, top to top. All of that was less, was less, 3 trillion plus, but still less, all right. And what's interesting about it is if you want to create the same amount, if you can see the sequence of math to have the same impact on the economy, all right. This factors into the next QE has to be $9.4 trillion. And if you want to look at it in the same context of 2008 to 2015 and three sets of QE that took broads back from the brink of financial disaster in 2009, you'd have to print $24.1 trillion. You're looking. Between $10 and $20 trillion will need to be the next QE stimulus package to bail everything out.

Speaker 1 8:52

When you say, well, don't worry, we're not going to have to get bailed out, right? Well, if the consumer cocoons, wouldn't that change things? And guess what? You can march people on TV that have a vested interest in the stock market going up in perpetuity all day long. Okay, and they can tell me the consumer is healthy, the consumer is strong.

Speaker 1 9:10

I heard one person use the word robust. It's not anything like that. We're going to get to that in a minute, but in the meantime, let's look at the amount of debt, now that this has created 36.2 trillion. All right, this is created 36.2 trillion. All right, you're up 64.5% since 2019. You're up 14 trillion since the second quarter of 2019. I mean, think about that. You do that again and again. You're talking about, you know, 20 trillion, 65% of 36 trillion. Figure it out All right.

Speaker 1 9:53

When we start to talk about where we were in 07 and then to 2019 and all the changes, it was still less only 13.1 trillion. The entire creation before that, since 2019, less than six years, because it's the second quarter. You're $14.2 trillion, the largest ever in history of any period, and it's only six years. And what's interesting about it is now that the quarterly increase, now on an annualized basis, has run at over $2 trillion 14 of the last 19 months, 14 of the last 19 months, 14 of the last 19 months and I think it's 10 in a row. The only other time it's even been there was the second quarter of 2009. And you have 14 of 19. Most recent months are over $2 trillion. The only other time in history was one quarter in 2009.

Speaker 1 10:44

Now the interest on the debt, of course 1.11 trillion. It's over a trillion annualized. The pre-pandemic high was the second quarter of 2019, when interest rates were going up at 586. And since the peak in 2007, it's almost tripled the amount of interest payments. So when I look at the charts on this stuff, I mean it really is mind-boggling. It just is Now, within the context of what do we have that's coming due.

Speaker 1 11:15

Well, if you look at the Fed's distribution of securities in their balance sheet out to five years, the Fed holds a trillion and a half of securities in one to five years. And the Fed holds a trillion and a half of securities in one to five years and holds over a half a trillion in stuff inside a year. All right, when you put this all together, the debt that's coming due between now and the end of next March, in the next 12 months, 9.3 trillion of existing debt matures. Think about that. I didn't even do the math. Let's do it real quick 9.3 trillion of existing debt matures. Think about that. I didn't even do the math. Let's do it real quick 9.3 divided by 12.

Speaker 1 11:49

We don't know where we're going with this 80. Yeah, 77 and a half trillion. 77, 775 billion a month. 775 billion a month For all the other 320 we got over here. You're talking a trillion a month. They're going to have to fund.

Speaker 1 12:07

Alright, 3.1 trillion was issued two or more years ago. So that is going to be higher interest rates too. So it's going to cost even more. And this is a you know plus. You got 1.4 trillion in the next five months for public borrowing, just to meet what you got to do. These numbers are off the charts.

Speaker 1 12:29

This 9.3 trillion comes from the Pete Peterson Institute. By the way, you want to know any of this? Peter G Peterson used to be a financier. Remember him? From the 80s. I mean, this guy's been doing this forever. He's been doing this as long as I have. He's as archaic as I am. He's as much of a dinosaur as I am. So that's what it tells you.

Speaker 1 12:43

But bottom line is, in the next five years, almost $17 trillion in US debt matures. That'll all be done at higher interest rates. It's going to be a nightmare, and the 10-year projected cost in interest cost is $13 trillion. That's more than the entire debt was right up until just prior to the pandemic, a little bit before, but $13 trillion over the next 10 years, just in interest costs. Just in interest costs. Seven quarters in a row it's been above $200 billion, just outright for the quarter. That's why you're at over a trillion on an annualized basis.

Speaker 1 13:24

But here's where it gets even more sticky, because when you start talking about again all this debt, well, the public debt held by the public is $28.9 trillion. Just call it 29 out of the 36 trillion of public debt that the government has borrowed from on our behalf, from us. It's then sold back to us $29 trillion of it. It's 80% of the debt that the government has created in our name we own. It's like a double whammy. We expect to get paid back on that debt. We're paying ourselves.

Speaker 1 14:07

I mean, when you talk about okay, that leaves about $7.3 trillion or 20% of the debt, who's holding that? The Fed holds $4.1 trillion of Treasury securities almost as much mortgage debt. They got like $2.6 trillion in mortgage debt, but the Fed holds $4.1 trillion in Treasury securities. That leaves about $3.2, $3.3 trillion. Out of that, the top four foreign owners Japan, china, uk and Canada own the bulk of it. So the owners are the Fed holds about what is that? Around 12%. Those four countries own 8%. We own the other 80. The other 80. All right, and the bottom line is they're going to pay you back in a currency that they're debasing the purchasing power of through inflation, because they have to have inflation to be able to pay you back.

The Fed's $9 Trillion Balancing Act

Speaker 1 15:01

So you know, you want to talk about the peace scheme. That's the peace scheme of all time in human history, never seen before. A debt binge the level of which we've never seen before, and a currency scheme the level of which we've never seen before. So when you see these numbers, it's irrefutable. So what this leaves is a 30-year bond which is pressing on 5%, and it really is a 40-year trend reversal, because we've entered the debt black hole where, even if you just take the public debt, you're talking about 121% of GDP. It means $1.21 in debt to generate $1 in new GDP growth. You throw on the $18 trillion in household debt, $5.05, $5.1 trillion is consumer debt. You're talking about 186% of GDP, meaning it costs $1.86. You have to create $1.86 in new debt to create $1 of GDP growth. You need GDP growth to pay down the debt or we go into a debt depression.

Speaker 1 15:59

You know, a la Germany, a la Venezuela, a la Argentina, a la many places. Not only that, but you know you're kind of looking at this that all of a sudden, every time the US 30-year gets above 5, bitcoin's above 100,000. Now, that could be pure coincidence, but when you look at the charts in this package and you see the correlation between Bitcoin and the US 30-year bond yield getting back to the end of 2023, it is very tight directionally, very, very tight. All right. Basically, bitcoin against the bond as a ratio spread is a very clear-cut bull market, very tight wave pattern and making a new, all-time high. All right, no, it's not a bond. It doesn't pay anything, it doesn't yield. But, again, better to hold it than the debt of some insolvent nation who's on a borrowing binge, who sells their debt back to the public and has to pay us off into base currency. I mean, come on, all right. I mean dollars. Just send a paper rally to you. You have no debt behind Bitcoin. Limited supply at some point, no government. You know it is almost a hedge against the US Treasury market.

Speaker 1 17:09

But really, the bigger picture now, of course, is the economy and the stock market, and I still think the stock market had a nice rally here. We actually were long for a while. Yeah, we're not always bearish on stocks. We'll be bullish. When the dollar cracks big stocks will go up a lot. It just won't keep pace. The stocks will go higher. But right now I think we're into the next wave down because the consumer is imploding. The consumer is imploding.

Speaker 1 17:32

Consumer debt, you know, in terms of consumer credit, is down over the last five months. Revolving credit is down over the last five months and not only that. The year-over-year change is now negative on a dollar-for-dollar basis To the tune of, in terms of revolving credit, it's $42 billion. Check that that's total consumer credit. Total consumer credit over the last 12 months, rolling 12-month change down $42 billion.

Speaker 1 17:58

The only other time that this has been negative in the pandemic 2009 global financial crisis and 1990 recession and in the pandemic it wasn't even negative as long as it is now, when we talk about revolving credit, which maintains credit cards down $16 billion over the last 12 months. Down four months in a row, negative on a dollar basis and the only other two times it was ever even negative 2009, global financial crisis, the pandemic, and now that's it, going all the way back to the 70s. Three times revolving credit has has been in contraction. It is a consumer cocoon, because the only other times this has happened is 2008, 2009, global financial crisis and during the pandemic. And now does now seem like the global financial crisis, does now seem like the pandemic. It is the consumer wall street doesn't get it. All these people on tv don't get it. Why? Because they're counting the credit card receipts and now that's going to be a problem. But within the credit card dynamic, it's amazing to see the number of credit cards Okay, and credit card debt is last at $1.36 trillion.

Speaker 1 19:11

All right, like I said, it is down $45 billion $45 billion on a 12-month rolling basis. All right, like I said, it is down $45 billion $45 billion on a 12-month rolling basis. But in that context, let me first mention that savings, because now we're drawing savings to spend because credit card use has gone down. I mean, people are having a hard time paying the bills. Savings just dropped in the most recent month this is April From $907 billion in savings to $872. It's down $35 billion in a month. That's a massive decline and it is now relative to. You have $872 billion in savings versus $1.32 trillion in credit card debt. Savings is only 65% of credit card debt.

Speaker 1 19:59

Here's the next big stat the number of credit cards issued in the last year is up by over 30 million. Check that that's in six months, up 30 million in the last six months. It's now above 600 million credit card accounts exist for the first time ever. It's up 150 million since the pandemic and going back that means it was 450. Now it's 600. That's a 30% increase in the number of credit card accounts. The number of accounts closed by banks just rose 50 million in the last year from 150 million to 200 million. So they're closing accounts, they're opening accounts.

Speaker 1 20:40

There's an interesting thing about inquiries that suggests most of the accounts that are open are these mailers that are sent out with pre-approved credit. I can slice this data to even get to that point where the majority of newly opened accounts and they're in the tens of millions are by the mail outs and the pre-approved cards that you send at usury rates of $300 credit, $25 a month. It's 100% interest rate. When you factor in the monthly fee, it's insane, all right. So you say, well, it's just a sign a consumer is really healthy, you know, and the demand is up, right? That's what they'll tell you on TV. Well then, answer me this one, answer me this Batman. Here's the riddle.

Speaker 1 21:23

Then why is the delinquency rate on credit cards the second highest in history? Almost 13% are seriously delinquent 90 days or more 13%. The only other time it was higher was in 2010,. Right after the 2008-2009 banking crisis. The only other time this is higher than 2007,. It's higher than 2008,. It's higher than all the pre-leads Auto delinquency rates above 5% the second highest ever. The only other time again 2010. And two years ago it was below 4%. Now it's above 5%. Student loans are back too, by the way. That's another little dig, but these numbers on delinquencies are telling you the consumer is choking. More than that, the consumer is telling you the consumer is choking.

Speaker 1 22:19

University of Michigan survey. Some people poo-poo the Michigan survey. It is what it is. All these surveys, all this data, every data point has some kind of crack in it, or maybe it's not what you think it is. You have to know what these data points are and then they use them because you understand exactly what they're telling you of michigan consumer expectations. Their index is expected to rise in may. It fell. It hit 46.5, the lowest since 1979 and 80 with paul volcker. There were four months when it was lower than this, but that was 45 years ago and last six months. This index nominally is down 40% 39.5%, 40%. All right. The expectations on the consumer according to the University of Michigan lower than 87, lower than 1990, lower than 2020, lower than 2008,. Lower than 2020, lower than 2022. It is the lowest since Paul Volcker was defeating inflation with 20% interest rates. We see that now it's as bad now for the consumer Inflation expectations.

Speaker 1 23:28

I got to tell you I've had a lot of respect for Jerome Powell Tough job. I would never want that job. You can't win. But please, jerome, stop lying to us in a bold-faced lie that you know is a lie when you tell us inflation expectations remain well anchored. He keeps saying that it's the old transitory dynamic and we chided him on that too. This is worse Because you say it doesn't make it true. Jerome, I know you got to try and maintain confidence. You can't say the opposite, but at least stop lying to us because inflation expectations are completely unanchored.

Speaker 1 24:04

I did a piece a while ago and then again recently, and then again just recently anchors away to show that consumer inflation expectations are completely and wholly unanchored, not only in the University of Michigan but also New York Fed survey. We just went through that. I mean, when you look at the upside of dispersion index in New York Fed survey, there's 6.7% inflation expectation against a possible downside in income of minus 1.7. Think about that person. Again, you're talking about real income being down 8% in some of the Fed surveys. I've said this one before In the University of Michigan, inflation expectations for five years are 4.6%.

Speaker 1 24:46

In other words, it's going to be two times higher than the Fed's target rate for the next five years, until 2030. Not only that, this was 3% and below 3% most of the end of last year for like eight months in a row and was 3% this January, and now it's 4.6%. Of course, tariffs a lot of this, no doubt. But does that matter? This is what it is. All of a sudden, you thought tariffs are dead and now we've got a big EU scuff-up and Apple's going to get hit for not producing phones in the US. You know, you think it's over. It's not over. You know this is beyond going.

Speaker 1 25:17

The one-year University of Michigan inflation expectation is 7.3. 7.3. At the end of December it was 3%. The six months before that it was below 3%. Now it's 7.3. Jerome, inflation expectations are wholly unanchored.

Speaker 1 25:38

And let's talk about the inflation numbers, how they've come down. It's been disinflation, but I said that would happen. I said it right here. I called it into the October November low and that's where it was. And now it's moving higher and some of the numbers keep kind of coming down a little bit. But that hides something in the fact that most of it remains energy and the energy base effect remains very negative. By the way, throughout the year you need like an 80-cent rally in gasoline just to get even with where you were last year by, you know, june, july, august. So you're looking at more disinflation, deflation from energy.

Speaker 1 26:11

Having said that, 72% of the economy I think it's 71.8% of the economy is the service sector. Service sector inflation X, energy, which is only two components in services or energy. So it's not a big deal. Service inflation 3.6,. Rent, 4. Auto repair 5, 6. Auto insurance 6.4.

Speaker 1 26:26

These numbers are down, but this is ongoing. Ongoing 6.4. Nursing homes 4.6. Hospitals 4.3. Water and sewer 4.8. Garbage 5.2. Daycare 5.4. Hair care 3.6. Just got my hair cut 5.4. Pet and veterinarian services 5.3. Okay, how about these ones? Sporting goods admission tickets 9.3%. Video game subscriptions, streaming subscriptions up 9.0.

Inflation Reality vs. Fed Rhetoric

Speaker 1 26:58

Of the 79 components of service sector inflation. 60 of them are above 2%. That's 76% of them. Three quarters are above target. 26 of them, or one third, are above four. 12% of them are above 5%. Five of them are above 6%. You're talking about huge numbers here, still in inflation. This is why the consumer is choking.

Speaker 1 27:25

And what's going to happen? Well, the Fed's not going to be hiking rates if inflation goes up. They'll kill the economy. So this is really interesting to me, all of this and how this plays out in the markets. It plays out again Yield curve steepening.

Speaker 1 27:37

The short end will remain depressed because they will acquiesce to higher inflation to protect growth. They have to. They know they do the debt demands that they do and in that case that means a lower dollar, a steeper yield curve and higher commodity prices. It will stoke inflation. It will also stoke asset price inflation. So stocks too will go up. There will be a time I still think there's a sea wave down in corrective mode and then you're going to get this time. I think it's still a step away from the Fed busting this move. Something kind of has to give, but we're on the verge of it, and it could actually be the bond market, because the supply right now is kind of overwhelming the demand and that's about to go up.

Speaker 1 28:16

Mandelbaum on steroids. It's Mandelbaum on steroids how the supply of treasuries for sale every week is about to explode and the yield is pressing new highs at 5%, as Bitcoin's at 100,000. Bitcoin's a new bond, gold's a new dollar. We already see that in terms of the BRICS unit and some of the other things. I mean just the price of gold, I mean the dollar index divided by gold, which is a great measure of the dollar's purchasing power. It's at a record low. It's at 2.7 cents relative to the 1973 dollar think about that and it's making new lows. The actual dollar index just violated the uptrend line goes back to 2008 and the entire patterns abc correction right to the 50 and 61 percent. Retracement is going all the way back to 1982 and paul volcker and the high in 85 on the Plaza Accord.

Speaker 1 29:11

I have lived all of this. I'm telling you what's coming next is going to be shock and awe and need to be prepared to take advantage of that. We try and help people do that. I think it's kind of almost a do-it-yourself type of thing now, but it's really tough because most people are underfinanced. We trade the futures markets. We manage money in the future markets. We give recommendations in trying to replicate that with ETFs and some of the equity indexes and stuff like this targeting.

Speaker 1 29:42

I mean right now our positions are pretty straightforward. I mean we're long. Platinum and palladium because I think they've been laggards and they just broke out. I put out a special on this and I mean it was higher within 24 hours. Now I have some pretty good hedge fund clients. It might have even been them that came in and bought the damn thing, but nonetheless we also own Bitcoin.

Speaker 1 30:00

I just bought back into gold. We had gotten out of gold. It was actually a little bearish on gold for a while. It didn't work out. It was Long. Play Back on the long side here. Short to dollar Various currencies that are like being long that you can play.

Speaker 1 30:12

Some of them you can play in the ETF. The euro looks very strong here. Just did a piece on the euro. A lot of reasons to like the euro here all of a sudden and I don't like the euro and all of a sudden I'm seeing I kind of like the euro. You want to get any and all of this. Shoot me an email.

Investment Strategy for the Debt Endgame

Speaker 1 30:26

I'm happy to give you a trial to our research. Those are the specific recommendations we have every day. We use stop loss levels. We give it to you all. I don't hold back. We give 100% to our clients in this vein. This is why I give this for free. I mean, you know, I'm old enough now that part of my mission statement now is to help people, because what's coming next? I feel like I see it. I feel like I've seen the entire evolution of it for the last 40 years, and I think I mentioned this in the last podcast. It's funny because we are raising money right now for accredited investors only. We'll talk about that on the podcast.

Speaker 1 30:57

But I had a new client that just came in and we had talked on the phone a bunch of times and the last conversation we had was long conversation and I said something along the lines of look, this is a 40 year in the story making from Paul Volcker all the way down to you know the pandemic and we crossed the you know the macro event horizon line, meaning we're in the black hole where it takes more debt now to create growth. And you know then we have to perpetually now do this and that will debase the dollar and that will drive prices of a lot of things higher, particularly, you know, the precious metals and gold. And he says, well, you've been waiting the whole 40-minute call to say that. And I said the time is right and the people that what I do will become more valuable because we're able to be flexible in and out. It's liquid. I mean, we can manage the risk to hundreds of a percent, and I do. I'm a low-risk trader and in that sense, it's my, my closing line, even though I'm not a salesman. Didn't mean it to me, it just was a conversation. And I said, yeah, and it's kind of been he goes. You've been waiting 40 minutes to use that line on me, haven't you? I said no, I've been waiting 40 years to use this line and that's the line we're using.

Speaker 1 32:02

Hit me up on Twitter at Weldon live. Hit me up on YouTube, gregory underscore Weldon. Hit up the podcast on Twitter at money underscore podcast, and shoot me an email. I'll send you the 59 slide package that has all of this and then some. It has gold, it has Bitcoin, it has all the ratio spreads. You kind of want to see this stuff. I'm telling you it's an impressive chart pack. If I don't say so myself, it's worth seeing putting it out there to help as many people as possible. Feel free to share it. Get the word out in terms of you'd start to really need to pay attention and be a lot more careful with your investment decisions. That's it for today. See you next time. Thanks for listening.