Bitcoin’s $82K Breakout Just Got REKT by the Fed!

0:00Breaking. Bitcoin just gave its highest

0:02daily close in nearly four months.

0:06Bitcoin surged nearly 20,000 cut bucks

0:09in the last 20 days. The move added 390

0:12billion to Bitcoin's market cap and

0:15liquidated 11.4 billion worth of

0:18leverage positions. This was the largest

0:21shorts liquidation cascade in the entire

0:24history of crypto. And would you look at

0:27that? Strategies Bitcoin portfolio is

0:29now up about 15 billion in just in the

0:32last 15 days. A thousand a day for

0:35Bitcoin is correlating to about a

0:37billion a day for Gigachad. Maybe he saw

0:40this chart and knows Bitcoin's pathway

0:43to 800k could come sooner than many

0:46expect. Bitcoin and gold were ripping.

0:50Then just while I was writing this show,

0:52boom, we crashed below 80k and the Fed

0:55flip-flopped.

0:57So what the is happening? Well, we

0:59definitely have some pretty strong

1:01reasons why investors are running to the

1:03exits. The flip to hold just flopped to

1:05hike and inflation is running rampant.

1:08Mohamed says the global bond sell-off

1:11likely not over yet. Well, you know what

1:13to do, Mohamed.

1:15>> Yeah. And as long as inflation as long

1:17as inflation expectations are stable,

1:20you can navigate

1:21>> buy some Bitcoin, Mohamed.

1:24Something else crazy is happening. The

1:25global currency war is accelerating

1:28while some are adopting bonds like a bad

1:31habit. It appears Dickie Dollar

1:33milkshake is in effect for others and so

1:35is the debasement trade despite the

1:38volatility. Massive show today. Stay

1:40until the finish and you'll understand

1:42why what Dave Smith just did to the fiat

1:45establishment, Bitcoin is about to do

1:48the same. And it could end with the most

1:51insane bull run of our lives and 800k

1:54Bitcoin. We will shake the bears off

1:57like please. We got a lot to get to.

2:01>> [music]

2:04>> It's a a long-term problem is the issue

2:06the Treasury faces.

2:08They are currently printing 2 trillion

2:11extra dollars and the Congressional

2:12Budget Office says that is

2:14rising

2:16you know, infinite items to 3.6 trillion

2:19in 10 years. And so if the government is

2:21printing that much money, it really it's

2:24just you know, kind of like

2:26papering over the cracks to to buy a

2:28couple billion here or there really

2:29doesn't do anything and and I think this

2:31has

2:32really ignited a rally in things like

2:34Bitcoin and other hard assets like gold

2:36because it really highlights there isn't

2:39a real way out for these

2:42uh

2:43countries like the United States. Think

2:45about it, you know, the US is the

2:46largest net debtor in the world. Like

2:48how can it pump, quote, make markets in

2:51bonds when it's the one that has to be

2:53forced selling of 2 trillion in a year.

2:56And I think that's what's driving people

2:57into crypto. You can't print There's 21

2:59million Bitcoins. You can't print more

3:01of them.

3:02Um and so all of this,

3:04you know, really is highlighting a a

3:06problem that's hard to to see where it

3:08goes. And um

3:11inflation is already

3:133.

3:154% and that debases 90% of your

3:19purchasing power over your life. So if

3:21you have the choice to own

3:24something hard like Bitcoin or a US

3:26piece of paper money, you know, Bitcoin

3:29has historically gone up about 70% a

3:31year and uh paper money is debasing at

3:343.4% a year.

3:36Um and also it does highlight the fact

3:37that the the economy is doing as well as

3:39it possibly could.

3:40Um

3:41unemployment rate is 4.1 which is you

3:43know, full employment. Uh wage inflation

3:47is 3.4%. Everything is really really

3:48strong.

3:50You know, you have to wonder what what's

3:51going to happen when something bad

3:53occurs in the economy. The the deficit

3:55will spiral spiral out of control, and

3:58we're only a year away from the US

4:00deficit

4:02going above where it was at the end of

4:04World War II. And think about that, with

4:07all that money, we defeated fascism.

4:09Like, what what's the government

4:11printing the money for now?

4:13>> Bitcoin reached 82K after Fed Governor

4:15Waller said he may support holding rates

4:18at the next FOMC meeting. 415 million in

4:22shorts got annihilated. It was on like

4:25Donkey Kong. But then,

4:28the Fed flip-flopped this morning.

4:31Flopped like LeBron when he won that

4:33Oscar. Because at 8:30 a.m., the jobs

4:36report drops, and boom, 162,000 new

4:40jobs. Listen to how insane this is.

4:42Economists expected 55,000, we got

4:44162,000. That's nearly 3x expectations.

4:49Last month was 21,000, so that's almost

4:528x last month. Private payrolls, 127,000

4:56versus 45,000 expected. Unemployment

4:59held at 4.1%. Even the U6 improved to

5:027.7 from 7.9. Wages hit 0.3% for the

5:06month, right on target. 3.1%

5:09year-over-year, a touch hotter than the

5:113% they wanted. Good news, right? It's

5:14fine, everything's great. Except in this

5:16clown economy, good news is bad news.

5:19Because a

5:20a strong jobs report removes the Fed's

5:24biggest excuse not to hike. Going into

5:27today, September hike odds were sitting

5:29around 50%. Waller literally said,

5:33"Yeah, I lean hold, but strong data

5:35could push me to hike instead." Well,

5:37here's your strong data. And now,

5:39inflation prints hit September 10th and

5:4111th, right before the Fed meeting on

5:43the 16th. If that comes in hot, too,

5:47a September hike stops being a

5:48possibility

5:50and starts looking like the base case,

5:53allegedly. And look, I'll be honest with

5:55you. It's not just the Fed. Same

5:58morning, Bitcoin crashes back below 80K,

6:01you get the trifecta. World's biggest

6:03sovereign wealth fund talking about

6:05cutting US Treasury holdings. Blackstone

6:08restricting withdrawals from its

6:10flagship private credit fund for the

6:12second straight quarter. They only let

6:15investors pull half of the 10% they

6:17asked for. And Mohammed El-Erian on CNBC

6:20saying the global bond sell-off is

6:22likely not over yet. Translation,

6:25wealthy investors are racing for the

6:27exits from paper promises.

6:29So, what the hell is happening? The

6:31system appears broken. Stocks fall after

6:35we add 162,000 jobs because Wall Street

6:38needs a weak labor market to get their

6:40paws. They want your cousin to lose his

6:43job so worse will pivot. That's not a

6:46free market. That's how a centrally

6:48planned, printed fiat ponzi operates.

6:51Bitcoin didn't pump 20K in 20 days for

6:54nothing. That was the signal.

6:57And Bitcoin is going to shake these

6:58bears off like fleas. And if you've been

7:01looking at this, orange man is not

7:03happy. He appointed him. I'm just

7:05waiting for the new nickname. It's got

7:08to come soon, right? Hey, dirty Kevin.

7:11Dirty Kevin and it has been at all these

7:14little fancy Bilderberg meetings. He

7:17needs a wash. Now, back to it because uh

7:20the jobs number, that's just the

7:22appetizer. We're in a full-blown

7:24currency war and China just proved it.

7:28What is China doing right now? Dumping

7:30treasuries, stacking gold, trying to

7:33dedollarize, trying to build their own

7:35little lifeboat. And it still isn't

7:37working. Yuan wobbles, Europe wobbles,

7:40yen gets Godzilla margin called. And

7:42where does the money go? Right back into

7:44dollars. Slurp. Dickie dollar. And it's

7:47not like dollar strength, that's

7:50everything else just failing faster.

7:52It's musical chairs of with a fiat

7:54toilet paper, and Dickie dollar brought

7:56his own chair. This is the 1971 Ponzi

8:00doing what Ponzis do, eat everything

8:02until there's only one exit left, and

8:04that exit ain't gold you can't carry.

8:07It's Bitcoin.

8:09Now, before we reveal when Bitcoin could

8:11be arriving at 800K and what Bitcoin is

8:14about to do to the fiat system,

8:17let's take a moment to recognize our

8:18sponsors powering this show over at the

8:21Bitcoin way. Oh, and look at that.

8:24That is terrible. Look at our likes.

8:26>> I'll pump those numbers up. Those are

8:27rookie numbers in this racket.

8:29>> A lot of people who are serious about

8:31Bitcoin skip the most important part.

8:33Not NGU, holding your own keys, being

8:36your own bank. If the last few weeks

8:38taught you anything, it's that you need

8:39to be prepared. Multi-sig, running your

8:42own node, verifying your own chain

8:44instead of trusting someone else's.

8:46Bitcoin way walks you through every step

8:48until you've actually got it, not just

8:50installed it. They also cover privacy

8:52phones and plan B residency if you're

8:55thinking bigger picture. Schedule a free

8:57consultation, scan the QR or hit the

8:59link below. Do it today. I've always

9:02been a skeptical guy on the Bitcoin

9:04backed loans. Too many of these

9:05platforms turn into rug pulls wearing

9:08yield costumes. Ledn isn't that. Eight

9:10years, 10 billion in loans, zero

9:13customer Bitcoin lost, zero

9:15rehypothecated. They don't lend out your

9:17collateral, period. Auto top-up

9:20protection so you're never getting

9:21liquidated. Lowest rates in the market,

9:23no fine print.

9:25Keep your stack, get the cash, repay

9:27whenever. Zero penalties. I personally

9:29have two friends who have used the

9:30product to put down payments on their

9:32first homes. The smartest minds don't

9:35sell their assets, they borrow against

9:38them. Head over to learn.ledn.io/simply

9:42today.

9:43>> It's like, dude, you're you're like a a

9:45cartoon character of the archetype of

9:48evil. Like like Satan's spawn who

9:51mastered legalese or something like

9:53that. The guy who gets O.J. and Epstein

9:55off. You're going to sit here and

9:56morally judge me? Like I'm sorry,

9:58[clears throat] man. Like I was trying

10:00to be reasonable through this thing and

10:01go, "You know what? You're you're you're

10:02a guy we're having a sparring match. I

10:04appreciate it. You're age." But screw

10:05you, man. You're sitting here smearing

10:06me. I'm arguing against a war, dude.

10:08There's there's been seven catastrophic

10:10wars in a row, and I'm using the little

10:12bit of platform, the little bit of

10:13influence I am to say that people of

10:15your generation need to let go of the

10:17goddamn wheel. You've given us enough

10:19disasters. 40 trillion in debt, millions

10:22killed. Enough of this.

10:24>> You got to go watch that full

10:26debate. It was incredible. I don't know

10:29of a better example

10:31of a decrepit, like the cryptkeeper,

10:34fiat system establishment

10:37than uh

10:38that guy. The Dave just pwned. Build a

10:41statue with his name. King Dave has

10:45arrived. No, really, he does this. When

10:47he's debating, he's top of his game.

10:49Kind of like when Bitcoin's being

10:51attacked, it just goes rage monster.

10:54And let me tell you what's on the table

10:56for the rage monster. 800k in 2 years.

11:00We just went up 20k in 20 days. What's a

11:0310x in 2 years? Check it out. Porka

11:06Pollins power law trend at Q90 would put

11:10Bitcoin at 800k 2 years from today. See,

11:14500k is humble. And these guys make some

11:17good points here. Bitcoin has only been

11:19higher than Q90 10% of its entire

11:22existence. So, unlikely. But there's no

11:25telling what happens when Bitcoin starts

11:27ripping faces off. Speaking of, let's go

11:30ahead and remind Muhammad that inflation

11:32is well above his arbitrary 3%. Roll it.

11:37>> There's a lot of people

11:39that are nodding with you because you we

11:40can deflate our way out of some of this

11:42stuff, but the difference between 2% and

11:443% compounded for the dollar is

11:47devastating. And and I don't know, for

11:48you to just blow it off is a little

11:50weird. I mean, there's a reason they

11:51want 2%. Anyone can move goal posts. I

11:54mean, if you compound 3% that's 50%

11:58higher than 2%.

11:59>> 2% comes from?

12:01>> I don't I'm not I'm

12:02>> No, no, but 2% comes from

12:03>> 3% it would be would would make all of

12:06us feel awful in 10 years.

12:08>> from the Bank of New Zealand

12:09>> Okay.

12:10>> in the early '90s.

12:11>> It seems like a good number to me.

12:12>> It's a good number but it's an arbitrary

12:13number. What you've got to what you've

12:15got to take into

12:16>> is an arbitrary number. I mean, if you

12:18want to deflate 36 trillion, let's go to

12:2110 then.

12:21>> I don't want to pull the rug from under

12:23US economic exceptionalism. I think we

12:26are outpacing the rest of the world.

12:27>> to a 3%

12:28>> we are investing in the economies of

12:31tomorrow. If we in the growth drivers of

12:33tomorrow, if we not

12:35>> No, the private sector, everything else.

12:37If you if you push this economy in

12:39government sector

12:39>> sector is not what causes the inflation.

12:41>> Joe, if you push this economy into

12:43recession,

12:44you will not just lose current standard

12:47of livings, you will lose future

12:49standard of living. We we are in a very

12:50good position to have

12:51>> 3% loses the future standard of living.

12:53That's the problem.

12:54>> 2.5 to 3 is is is what I said. You went

12:57to immediately to three.

12:58>> Well, if you say three at the top

13:00>> And as long as inflation as long as

13:02inflation expectations are stable, you

13:05can navigate

13:06>> buy some Bitcoin, Muhammad.

13:09>> Okay, real talk for a second. Not your

13:11keys, not your coins. I've said it.

13:13You've said it. We've all said it a

13:14thousand times, but nobody really talks

13:18about the part after that. Once you got

13:20the keys, how do you not mess it up?

13:23Because I've seen people lose a seed

13:24phrase or get it replicated, forget

13:27where they hid it, spill coffee on it,

13:29all of it. One dumb mistake and your

13:31whole stack's gone. That's the actual

13:34reason I like BitKey. Instead of one

13:37seed phrase holding everything together,

13:39it splits things three ways by default.

13:42Your phone, the BitKey hardware, and a

13:44key held by Block. You only need two of

13:47three to move anything. So, if you lose

13:49one, you're not locked out and Block

13:51can't touch your Bitcoin on their own,

13:53either. Nobody's holding the keys to the

13:55kingdom but you. And here's the part I

13:57think is kind of underrated. The

13:59hardware itself shows you what you're

14:01signing. So, even if your phone or

14:03laptop somehow got compromised, you're

14:05not blindly trusting some address.

14:08You're confirming the real one on

14:09hardware no one else can reach. No seed

14:11phrase to babysit, real recovery if you

14:14lose a device, a real plan for what

14:16happens to your stack down the road.

14:18That's not theory, that's just That's

14:20how self-custody should have worked from

14:22the start. Download BitKey today, use my

14:24code sendit for 10% off, and this

14:26episode has been brought to you by

14:28BitKey. Hey, hope you guys enjoyed this

14:30one. Let us know what you think down

14:32below. Don't forget to like, subscribe,

14:33and give us a pamper by sharing the

14:35Sound Money gospel with with some

14:38poor unfortunate soul trapped in fiat

14:40purgatory. Hope you guys have a great

14:42weekend. Dominate those fantasy drafts,

14:45and I'll catch you next time. Love you

14:46guys. Peace.

14:48>> If you prefer to go down with the ship,

14:51you.

14:54>> [music]