Dec. 18, 2024 - The David Knight Show
10:40
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| Time | Text |
|---|---|
| The irrational exuberance, I think, about crypto that is happening in the honeymoon planning of the honeymoon period of President Trump. | |
| We've got meme coins out there, a lot of them, that are going really big. | |
| One of them is called fart coin. | |
| Yeah, that's right. | |
| And it's ripping to new highs. | |
| Is it the sign of a bubble? | |
| Or of inflation? | |
| I don't know, but fartcoin, they say, is totally useless. | |
| Well, how do you distinguish that from any of the other crypto stuff? | |
| I mean, what do you use any of it for? | |
| You know, we talk about commodities that are rare that have historically been used as money, like gold and silver. | |
| They do have other uses. | |
| But, you know, whenever you try to, people try to do a physical representation of Bitcoin, for example, they always draw it as gold. | |
| But, you know, there's a lot of talk about how they think that it's going to go up to $800 million. | |
| This next week. | |
| I'm sorry. | |
| Yeah, not $800,000. | |
| The cap for Fartcoin went up to $800 million. | |
| The market cap. | |
| In other words, all of the existing meme coins that are out there, all the, you know... | |
| You would think that they would be able to use fart coin to, I don't know, control greenhouse gases or something. | |
| Or maybe it could be the stock and trade of carbon taxes. | |
| You pay them in fart coins. | |
| That seems to make sense to me. | |
| But they said that its market capitalization is $800 million, about equal to those of Office Depot, Guess Jeanswear, and the parent company of Steak and Shake. | |
| So, it's got a lot of investors in it. | |
| There's many investors, really. | |
| Much money invested in that is an office depot. | |
| In the day after the article published, FARC coins value seesawed back and forth. | |
| It went down to $620 million. | |
| Then it rose to a peak of $889 million before falling back to $836 million. | |
| Just over the weekend. | |
| The carnival casino era of cryptocurrencies is upon us, as they said the other day. | |
| They said it's a Santa Claus rally. | |
| And yeah, that's right. | |
| Santa Claus doesn't exist. | |
| But it's kind of interesting. | |
| You know, we talked about Trump's pick for Treasury Secretary. | |
| This is a guy who is, I don't know, I look at his background with Soros and how he was the key guy in the Soros team that broke the Bank of England and worked with Soros and all the rest of the stuff. | |
| They say, well, it's just his economic work. | |
| He's not politically allied with Soros, and yet he has been in the halls of globalist power and all this kind of stuff for quite some time. | |
| But there are articles coming out, even Technocracy News, He has an article saying that, you know, perhaps there might be something there, even though he is talking about a global economic reordering. | |
| And that's the key thing. | |
| And the gist of this article that was from the Daily Reckoning and posted up on Technocracy News... | |
| The gist of the article is, hey, he's very bullish on gold and some other things like that, and statements that he's making seem to align with what conservatives want to see happening in this country. | |
| And yet he's also talking about a global economic reordering. | |
| And that's the thing that should concern us. | |
| Look, I have no problem with people getting crypto. | |
| A lot of people made a lot of money on it. | |
| It may, you know, right now, I think it got up this last couple of days, it got up to 108. a thousand dollars uh per coin and a lot of people are saying like i told you i think yesterday you know eight hundred thousand maybe a million dollars per coin uh so you know people have made a lot of money in it people may still make a lot of money in it and um and it may uh continue to go up in value especially when you look at how the trump administration his cabinet Are trying to move | |
| people into these virtual digital currencies. | |
| And that's the thing that concerns me when they start talking about a global economic reordering. | |
| I really do think that they're laying the foundation for this. | |
| I think they're laying a precedent for this. | |
| But it's a foundation in the same way that Trump created the vaccine, and then you come along with a Democrat who mandates it for people. | |
| That's what concerns me about this, is the global economic reordering. | |
| As Technocracy News says, a technocrat billionaire who talks about global economic reordering and about economic surgery. | |
| Even as arch-technocrat Elon Musk talks about reordering government. | |
| And he says, is the great reset just ahead? | |
| Is the great taking just ahead? | |
| As all these people are trying to securitize and tokenize everything that is out there. | |
| Interestingly, Besant is a major gold bull, and that is from the Daily Reckoning. | |
| Even though he has been an ally of Soros and profited from breaking the Bank of England along with Soros, he has been managing his own hedge fund for quite some time, a self-made multi-billionaire. | |
| These people think that he represents a substantial upgrade from Janet Yellen, who doesn't really have any clue as to what's going on. | |
| I think she decides what course of action she's going to do by taking mushrooms. | |
| That's what she's doing in China. | |
| Well, they said, Besson is a major gold bull. | |
| I think we are in a long-term bull market in gold, he said. | |
| We're seeing reserve accumulation by central banks. | |
| I don't follow it closely. | |
| It's my biggest position, he said. | |
| He's a gold enthusiast for U.S. Treasury. | |
| Well, what about that? | |
| They said his pick by Trump, this is a guy who is an advocate of cutting government spending and deficits. | |
| Besant has proposed what he calls a 3-3-3 economic plan for America. | |
| It seems like I remember 9-9-9. | |
| What was his name? | |
| It ran for president. | |
| Anyway, 9-9-9. | |
| Flat tax and all the rest of the stuff. | |
| Well, the Besant 3-3-3 It says 3% annual real growth, 3% deficit to GDP max, 3 million additional barrels of oil per day. | |
| Drill baby drill, right? | |
| Well, again, we need to be able to use the oil, right? | |
| And so if you're going to use, if you're going to have real growth, You've got to have manufacturing. | |
| And what's the point of getting the barrels of oil out per day if you can't use them? | |
| I guess we could always sell them to China because they can burn as much oil and as much coal as they wish. | |
| No limitations on them whatsoever. | |
| If you don't address the Paris Climate Accord, nothing is going to change. | |
| The Paris Climate Accord is more devastating than any advantage that China has. | |
| And he does talk about that. | |
| He says, look, you know, they have undervalued the yuan, and they are distorting the world economy by favoring Chinese exports. | |
| They had slave labor. | |
| They had intellectual property theft, currency manipulation, all the rest of the stuff. | |
| But now, more than all of those. | |
| It's the fact that the Paris Climate Accord has essentially given them a monopoly on manufacturing goods because their energy is so much cheaper than the rest of the world. | |
| And they're going to be allowed to continue to build energy capacity without cleaning up anything at all. | |
| And we have to reduce ours. | |
| If you don't get rid of the Paris Climate Accord, none of this stuff is going to happen. | |
| But the Daily Reckoning says these goals offer a nice start. | |
| If Trump can pull off all three, we'll be well on our way to long-term sustainability. | |
| Besant sees China as America's prime competition. | |
| Again, the undervaluation of their currency. | |
| He said, Independence and dominance in the U.S. and a growth mindset. | |
| We can get back to growth. | |
| I feel very strongly that this is the last chance to grow our way out of this. | |
| And as they point out, there's only so much the Treasury Secretary can do, but he could be a positive influence on Trump in terms of policy. | |
| But again, my concern, and it's good that this guy is focused on gold, and he's actually, Trump has got an economic advisor who's openly advocating for return to the gold standard. | |
| She's a big, she's like a, you know, believes in the Austrian School of Economics. | |
| So there's some positive things there. | |
| We'll see what happens. | |
| And, you know, in the short term, I think the deregulation of crypto is the right thing to do. | |
| I'm just concerned that there's so many people and some shady characters like Lucky Lutnik has been involved in stablecoin and all the rest of this stuff. | |
| Hello, it's me, Volodymyr Zelensky. | |
| I'm so tired of wearing these same t-shirts everywhere for years. | |
| You'd think with all the billions I've skimmed off America, I could dress better. | |
| And I could, if only David Knight would send me one of his beautiful gray MacGuffin hoodies or a new black t-shirt with the MacGuffin logo in blue. | |
| But he told me to get lost. | |
| Maybe one of you American suckers can buy me some at the DavidKnightShow.com. | |
| And David is giving a 10% discount to listeners from now until 2025. | |
| At that price, you should be able to buy |
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