WOW! BLACKROCK SAYS CRYPTO WILL HAVE BLOOD IN THE STREETS! BIDEN'S NWO AGENDA!
Rick. You have been a proponent of crypto uh, i think within the firm, probably more so than than many others. Where do you see that now we talked about what el salvador did this week, but it speaks to all the issues that youre dealing with here, which is, which is what are real rates, whats, the value of money? So so you know thats a tricky subject. So, first of all ill say the first thing i will say on crypto: you know people describe it as a hedge or an alternative im, not sure its a really great hedge. I mean the correlation to equities the correlation to risk assets, im, not sure its. A great hedge, by the way, so when an acid moves 10 to 15 percent a day really hard to hedge big organic asset, pools with that as a hedge is it you know, is it an alternative currency, listen ive, said and ive said you know, ive said It with you, andrew, listen part of why i own a small piece of bitcoin is. I do think there are more people that are going to enter that fray over time. We have a very moderate position in our portfolio. I like assets that, quite frankly, are volatile. That have upside convexity and i could see bitcoin like its done. I could see it go up significantly, but listen. I think its volatile. I dont think its a core asset class like like bonds are or like stocks are, but i think its you know to have a bit as more of a speculative tool in a portfolio yeah.
I think i think theres some value to that uh before welcome to the crypto teacher and guys you know, i come back with that video just to make. You think – and we have rick from blackrock, says that bitcoin and crypto are not hedges and we know theyre not because we know its all dollar base which is controlled by the fed. We know once the affair starts pulling this rug. We know stocks and cryptos are going to take a hit. Now we have biden and guys. You know i got a tip toe around this. One does executive orders on the fed workers for the pope so guys. We know that our freedoms in america are what definitely over in 2020. America ended, and we know babylon is falling fast and the rise of china is about to get, and we know all. This is just a distraction to move us over to the fourth industrial revolution and in my book i went all over this nanotechnology, because eventually this is going to lead to nanobots getting inside of your system. Humanity will be part, human and part machine. Tran humanism is right around the corner and we know these cryptos are not for us. Remember, crypto means hidden message: theyre for the robots, algorithms and drones that take over this new economy get your friends and family educated. Let them know they have been indoctrinated and we are definitely the chosen generation either to stand up or lay down and remember the crypto teacher told you, because when it comes to the new world order, its all planned out, you have a wonderful day, some breaking news.
Uh from the ecb, steve leesman, is on the cnbc newsline steve, hey joe yeah, the ecb announced today it would do a moderately lower pace of purchases under its pandemic emergency purchase program, and just so you know thats program amme the way they spell it over there. They were, they have a a total amount of 1.85 trillion that theyve allocated for bond purchases and other asset purchases for the pandemic. Theyve been doing about 80 billion euro a month and the expectation they didnt announce. The number is that they go down to 60 or 70. uh, so in dollar terms, thats like going from 94 95 billion dollars down to 82., so you know be still youre beating heart in terms of theyre still out there purchasing its, not necessarily a taper, its A reduction in the level theyre supposed to keep going until march well see if this kind of helps the fed with a green light to begin its own asset purchase reduction, but the ecb saying it will reduce the monthly purchases under the pep program. Joe lets talk a little bit about what the ecb is doing and what you think jay powell is now thinking. Listen, i think what the ecb doing ecb is doing is the right thing. I mean they are moderating their amount of purchases. I mean theyre moving bit back from emergency conditions, as steve said, you know, take that number down from 80 billion to 70 billion youre still talking about immense amounts of quantitative easing going to the system, but recognizing that the system can pull back a bit from the Emergency infusions of liquidity, youve seen by the same thing, youve seen bank of england bank of canada koreas doing it listen, i think the fed.
I think time has come, that we can move off of emergency conditions. Listen the system is stuffed with liquidity. Now i think the ecb is doing is recognizing gosh. You can pull back, i mean its still immense liquidity. I also think theres, something very important i think christine lagarde is referring to. They are still far away from their inflation targets. So rates are going to stay low. The quantitative easing is going to stay high for a period of time, but can you pull back a bit from the emergency conditions? Absolutely and i think were seeing that throw in you know i think this little bitcoin stuff. You know i have a great respect for barry diller and i think he was on recently and he said that the bitcoin was a con job. I dont know theres a con job, but i take the easy way out. I say that if you dont understand bitcoin, that means youre old, im, 78 im old, i dont understand it by one thing i dont know is not in the interest of the us government to further a substitute for the u.s dollar, so my guess is ill. Be very careful in bitcoin, i dont think it makes a great deal of sense, um and uh. If you, if youre nervous about the world gold to me, would be a better place, historic value than bitcoin, and i own very little gold. You know im a paper guy im, a im, a perennial optimist.
You know i kind of agree with warren buffett. People dont get rich being short america, but i must say, im very concerned about a lot of things: the the the artificiality in bonds, the attacking of the wealthy people, um and uh. The fact that we pulled demand forward – because you know the fed – has really elevated unemployment relative to inflation as the key goal of dealing with it and thats. Why youre seeing their policies and why youre seeing the policy of the administration you know, uh biden is a big government guy and uh. We cant afford big government. Now we have to have more balanced policy. The most powerful person in the world is the storyteller, the storyteller says the vision, values and agenda of an entire generation to come steve jobs and guys. You know, i truly believe in this when you look at the new world order, theyre the storytellers and thats. The reason why i wrote my new road order book, but guys now its time to change the current generation and i wrote three kids books. You know i love the trinity because i understand the power of that senate. So i have three books. We have an opportunity to change the generation to educate, not just me, but i want to show you that i take action on a daily basis and i want you to take action on a daily basis, whether its your job, whether its in your community.
We have an opportunity right now to educate the masses. I posted this on. My twitter account please share, but this is a short clip of the three books theres going to be a clothing line and action figures. Please get these books for your kids, nephews, cousins, friends.