This is chris, i hope, youre well unsafe and everythings going great with you. This is news to educate and entertain you so were talking about the market. Today, um today was a bit flat, but there was something some big news out of china and if youre watching the market today, you would have saw it um. The government in china is effectively banning a cryptocurrency and its a real big thing for transactions and minors, and so i dont know how theyre going to enforce this kind of thing, but i dont want to be caught illegally with cryptocurrency in china. If youre a chinese citizen um, so you know one of the things uh uh thats important about crypto is you know governments want to find ways to essentially figure out who has money, whos, hiding money and um? How can we tax that kind of thing and um in china? Actually, this is actually a very serious concern. Government officials often will pay cash for houses abroad and ways to hide money or dump a bunch of money, essentially stolen from you, know, regular people and that kind of thing hide it in crypto. So um, you know theres. Certainly, some sort of realistic or useful ramifications of trying to block uh crypto in terms of you know, china um, however uh you know obviously, people around the world who arent chinese and obviously maybe people who are chinese, who are into crypto arent, so thrilled about the Governments actions so um you saw todays uh bitcoin uh drop.

I believe it was um still hanging on to the 40s. As of this recording but uh, you never know ill be curious if its going to dip below 40.. I think that is a key level for for bitcoin. Also too, you know stocks that are related. Like a coin base um, you know mara riot, they all took a little bit hits today, um and uh. You know before we talk about that as well. Lets take a look at the the market as a whole. So if you take a look at the chart here, you can see things are mostly flat, so microsoft apple were pretty much flat. Google is up a bit. Tesla was up pretty good today, so was costco. Actually – and the other thing thats kind of interesting is nike – was down due to supply chain concerns. We have talked about that before that was likely going to happen. Uh and moderna was also down, but modern is a highly volatile stock. So i wouldnt be shocked if um that thing comes back so uh. Maybe the way to play madonna is buy on red, sell on green, but maybe thats, maybe thats every stock right um then uh. The other thing too i want to mention, which i think is an important thing, is um. I did a live stream this morning and one of the topics that came up was alibaba. What do we do with alibaba um? Honestly? I dont know i mean im looking at this stock, its trading like at 145 – i think now, uh, i thought 150 was the bottom, but boy was i wrong and uh.

You know now its 145 now its like wheres the bottom. On this thing, um, i i dont think anybody knows you know the the news on alibaba was that uh the governments forcing them to sell basically a bunch of their media tv assets, which i think is a big blow to the company, and you know people are Nervous on the on the chinese stocks, because thats another question is, you know, is it okay to buy chinese socks? Should i buy the dip? Well, certainly you know thats up to you uh. You know you got to do what you got to do with your money. I think there is potential to double your money with any number of these stocks, because theyre beaten down so much heres the big. However, you got to take into consideration political concerns, so you know thats the big thats, the big. If and no one knows and its certainly true um, you know when people are running away and scared um thats the time to get in but um. This is a little bit different. You know i mean, if, like i was talking in a stream this morning, uh you know lets say some face. Facebook got some bad regulations or something like that: um, okay, facebooks, a bad example, meaning because i could see the government. You know saying that were going to break up facebook because its a monopoly and that stock would plummet. I could see that but um, but what i wouldnt necessarily see.

What is the government is going to like force facebook to? Essentially, you know not take profits like like they did with um. Chinese government was talking about video games and they were talking about um education and theyve, auto targeted real estate. I mean theres any number of industries that the government can target and say: hey youre, not going to make profits anymore, so that certainly spooks, because it essentially takes away the the free market and entrepreneurship and so its um, its actually really upsetting. I i lived in three different cities in china, shanghai shenzhen and beijing and uh. I uh you know and very unhappy with the way the government is sort of changing the culture and the policy these days. Um. The other thing, too, is going on with the whole crypto thing. If you dont understand, you know why crypto is so important to chinese um. So if youre anything by the chinese government, its its really corrupt, um, theres, a lot of government officials that essentially steal money and then hide money or government, you know – will give money to certain companies and that ceo may or not get the same thing. Kind of thing, steal, money, hide money and the best way to hide money actually is what theyll do is theyll take cash and theyll buy houses, you know here in usa, or they might buy houses in australia or london. Any number of places uh chinese people love to use cash, its not traceable, and then you can hide it in a house essentially or buy artwork or invest in crypto.

So uh cryptos one of the ways that um you know you can hide money. Also too its easier to get money out of the country uh. If you can use something like a crypto, so cryptos very attractive to people in china who have money or or anywhere in the world that want to be able to send money across borders untraceable effectively. Um, you know, government cant, see it and you know hide your money so um, i i dont think theres any coins is that china, you know, took this various tough stance. Essentially, you know um banned transactions, banned mining and so well see how this plays out um. What cryptos gon na do ill be curious if youre in this stuff um regarding like a coinbase uh stock, which people ask me about heres, my opinion um. So normally the bottom on coinbase would be like 200 and the thing just keeps falling because its following the the price of bitcoin but the other two. The issue is, in my opinion, on coinbase. Is that theres going to be a lot of competition in the future? And you know who knows, maybe in three years from now theres going to be like three different brokerages and essentially too much competition pushes all of the margins down on these companies, so um ive? Never gone long on on coinbase and um. You know for me that stresses me out to have to worry about the price of bitcoin worry about government regulations and also worry about competition.

So um, you know i i thought um bitcoin would uh. You know do okay, um, but you know evidently theres always something uh, however heres the big. However, it it hasnt crashed quite yet uh bitcoin was definitely down, but it hasnt crashed. So you know theres, certainly the possibility that bitcoin moves this year. You never know um and coinbase is still good soccer, any crypto related stock, but you know for me its its um pretty really risky the same way. The chinese stocks are risky um. So just be aware, it doesnt mean you shouldnt, invest in these things. It doesnt mean you cant make money things. Just you always be aware of what uh risk is and thats. You know how youre successful in the market is thinking about your you know: uh asset allocations and how much risk youre willing to bear right so uh, the least amount of risk lets say youre to get att phone stock or you know youre going to get apple. Those kind of things like its very very low risk with these sort of companies, but the upside is not nearly as high um as say like an alibaba or bitcoin, where some people are really bullshitting, bitcoin saying it could theoretically hit a hundred thousand this year or Some crazy number um, i dont know if its going to go that high, but i i will say i know there are a lot of people who are really big: believers in bitcoin uh and a lot of um.

Essentially, wealthy people like to do transactions this, and this is not just chinese um, the russians like bitcoin, the americans do and i believe the saudis are into it. Um africans are into bitcoin because um many countries in africa, the the currency is unstable. Theres inflation is this through the roof, i believe, like nigeria, the inflation of some crazy number like 30 or 40 percent, or maybe 70.. But the point is that um as volatile as bitcoin is under el salvadors, another example. Some some people in these countries like to put their money in bitcoin, so i i dont think china is the only player in the town when it comes to. You know: whos investing in bitcoin, but i i do think um theyre a big player. Of course. A lot of people are there uh. Also too, were going to keep an eye on next week. Still dont think we have a resolution on the evergrand situation. Um, maybe itll be sort of uh questionable for the next three weeks. Um, you know so already. The markets are responded with. You know, coming down a bit, but weve rebounded nicely here in usa on the feds comments um, but its just going to take some uh data on consumer confidence, and you know cpi, meaning like what are prices. Whats inflation going to look like to sort of rattle the markets again. Um me personally in my daily life, i feel like everythings cost more money and its very obvious to me at least that inflation is here uh but well see so thats sort of what were looking at in the future were also, as i mentioned before, in previous Videos um uh, are the democrats gon na raise the debt ceiling im, not a thrift, a big fan of that, but hey it is what it is uh.

I would like to raise taxes, but the republicans are blocking that and you know you get my feelings on these either way. I just hope we can balance the budget and um uh, protect our economy and and thats it so um, todays friday, tomorrows the weekend ill. Be making some more videos on the weekend and i do appreciate hanging out with you and i hope everything is well and um if youre in crypto id love to hear about it or any other stocks youre in id love to hear about whats going on with You so thanks again for watching and ill catch.