Investing With a Billionaire - 152

Last week I was at a conference. And they had a lot of great speakers, a lot of fun donors. And there were two people that were legit billionaires that they had invited to speak. One of them was John Pennington. The other one was Jim Rogers. Jim Rogers is definitely the most or the more famous. He is the one that he started the quantum fund with George Soros way back when, and at that time, they were, they were only like, according to him, there were only like four or five mutual funds or hedge funds in the world. At the time, nobody really knew what a hedge fund was. And so they started that they made billions of dollars. And then he decided, hey, you know what I'm done. So he took his money, and he left.

And then he wanted to travel. And so he was trading his own money, he's investing his own money. And he got a couple of motorcycles for him and his wife, or his girlfriend at the time. And they took those motorcycles, and they drove around the world. And then he wrote a book about it, you know, talking about the different stuff that they learned from the travels and the currencies, and the macroeconomics and how politics works, and how the black market works, and all these different things. And I was, I was very young, when I read that book. And it opened my eyes. I was like, Man, this is the best book I've ever read. Because not only did it talk about travel, which I loved, it also talked about macroeconomics, and it exposed me to that. And I'm like, Well, this makes so much sense. This is awesome. I love how things work. I love how the world works. And then I was like, Man, this guy, so rich, how can he travel around the world? You know, what does this guy do? And I real and I found that he's a hedge fund manager. And that was the first time I've ever heard those. So I'm like, oh, I want to find out what this is. And then I realized, Oh, my God, that's what I want to do. I want to be a hedge fund manager. And since then, I've always had that in the back of my mind. Eventually, though, I gave it up. I'm like, Yeah, that's a lot of work. And I don't know if I want to treat both people and this and that, oh, yo stuff. And then this conference, when I saw it, I had a ticket from a year ago, but I wasn't gonna go. But then they announced that he was going to be the headliner. And I was like, Ah, this is it, you know, my fund is launching this is like, is like fate. It is a full circle, it's going all the way around, like, this is where I got started with the idea. Now I'm actually doing it and these guys will be speaking I can see him I can meet him maybe.

So I had to go. And these are the things that I learned from these two fellows. Both of them are very smart, both of them, some of them, they said the same stuff, they overlapped. So that was like man to billionaire saying the same thing. Maybe there's some to that. But you'll see that these are their interpretations. These are their thoughts, their theories, some of this border lines on, you know, conspiracy theory, to be honest. So, you know, take it with a grain of salt, see what makes sense. And hopefully, that you guys will be able to benefit from this as well. So first guy, his name is, like I said, these are my notes, you know, all the thoughts I put here, their their thoughts. I'm not sure if I agree or not agree, I'm not talking about that. I'm just reporting on what I heard. And I give you any advice, I'm not selling anything, right?

The first guy, his name is John Pennington. And he got rich by creating a real estate fund where they would buy real estate, and land on real estate and then to borrow money to lend on real estate. And the company got so big that they took it public, when they when they went public, he retired. And now he, you know, just sits around and thinks about economic theory and investing money, of course, but he doesn't really have a day job. So he can think about all this stuff. So we're gonna talk about what he said first, the biggest thing that he came up with, and, you know, his whole thing is that you look at everything that's happening in the world, you look at the different news events, and they don't make sense a lot of it. And I'm gonna go through some of them. But if you think about it, and say, hey, you know, what, how are these things all connected? Are they connected? Sometimes they start making sense, if you have to peel the onion and look under the hood a little bit, you know, and sometimes you have to guess at what's going on. Because this guy, you know, he's not, he's not in the Army Air. He's not in the politics. He's rich, but he's not that connected, where he's in the government. He knows exactly what's going on in all facets. But he can sit back and take a look and try to figure things out. So what he says is that, you know, things don't make sense by themselves unless you put them all together, and then they start forming a pattern and then people in power are not stupid. You know, it doesn't matter who the president is. There's somebody going to be talking about how stupid this person is. The Fed has been bashed over and over and over again on every single network people are saying how stupid they are. But the media wants us to think that they are stupid and the talking heads and the gurus need to have somebody to bash but these people would not have been in these positions unless they are very, very smart, you know, they didn't wake up yesterday and be appointed to their top positions.

So that being said, number one thing that John says is that the Fed has the number one mandate, it's not to fight inflation. It's not to keep employment low. Like they said, their number one secret mandate is to protect the dollar at all costs, the dollar needs to be used, and it needs to be strong. And for the US, the dollar is the best product in the world. If you think about it, it doesn't cost any money to make, they can make as much as they want. And then they can help set the price like they can dictate how much it's worth. And when you have something that everybody wants, because it's artificially created demand. But that you can set the price and you can make as much as you want, you rule the world. And that's what the dollar allows the US to do. And so the Fed's job number one is to make sure that people cannot live without it. And I'm going to go through how they do them.

So currently, we've talked a lot about people you've hear in the news about the reserve currency, the dollar is going to lose a reserve currency. Well, currently 58% of the world's reserve currency is the dollar, all trade 50% of all trade is done in dollars. Our number two is the euro. The Euro comes in at 20%. While China comes in lacking at 2%. So a lot of people Oh, China's going to take over the dollar reserve currency. China is going, well. Yeah, no, it's at 2%. So to go from 2% to over 50%, it will take a lot of different things. And you'll see later on what the what the thought process is there. So the BRICS, right, let's talk about the BRICS, Brazil, Russia, India, China, South Africa, these guys make the bricks they've been meeting for years, they're trying to come up with their own currency, trying to replace the dollar, they want to get away from the US. And they've been doing this for years, it's not a new thing. The problem is, according to John, that they don't trust each other.

You know, you have all these countries, they have something in common, which is they want to get away from the dollar. But they don't trust each other either. So which country is going to be in charge, which country is going to be responsible for printing the money for for safeguarding the money, whoever that country is, is going to be the one that dominates all the other countries? They're going to be number one who knows, right? They're gonna be player. So people think, Oh, he's got to be China? Well, Russia might have a problem with that, you know, India is gonna have a problem with that. I don't know about Brazil and South America. But definitely India sees itself as a world player, and they want, you know, and Putin doesn't want to be second to anybody. So that's the question there until they address these issues. Brakes are really a non issue. Now, we also have Saudi Arabia. So Saudi Arabia has been playing very nicely with Russia, but not with the US. So Saudi Arabia has been not playing very nice with the US, right? They even tried to sell their dollars, not in US dollars, or their, their oil, not in dollars, they wanted to sell it in Russian rubles, or they wanted to sell it in Chinese yuan, or their own currency, whatever. And so a little while ago, Biden, you know, paid them a visit. And he met with the prints or whichever one was there. And according to the media, nothing really happened you know.

Biden went and there was no reaction at all. There was nothing big that came out of it. So it was ah, Biden, you know, nobody cares about Biden, he's just wasted time. Well, you know, according to John, if he was Biden, he would have gone and talked to the prince in private, and he would have reminded the prince, about how they have 1000s and 1000s of American troops that are living and stationed in Saudi Arabia, protecting Saudi Arabia, basically being the army and defense force for Saudi Arabia, which costs a lot of money, the billions of dollars that we sell them in arms for guns and bombs, and planes and drones, all that stuff would go away, if the US stopped dealing with Saudi Arabia, and the oil we buy from them would also be going away. And so, you know, you kind of have to remind some of these people sometimes and so if Biden had done that, then the smart thing for Saudi Arabia would be to continue to move and, you know, stick with the dollar, which is kind of what Saudi Arabia did. Because after this visit, not right after, but shortly after, they transitioned back to the dollar, and they shut up, they stopped talking about a different currency. So it was interesting.

Again, these are small, little items, right? These are news events that you see in the news. But by themselves, maybe they don't mean anything. But as you can see all of these put together, and I get a whole bunch more, a bigger pattern seems to emerge. Then you have China, China and China and Taiwan. Right. So we have imminent, you know, and everybody's talking about it. Even Elon Musk yesterday was talking about it. Oh, yeah. Yeah, we're going to China is going to take Taiwan, maybe it will well, we don't know when. And according to John, it's not happening anytime soon, for a number of reasons. So one of the reasons that everybody knows is that the US Navy is the most powerful in the world. At this point, it still is. And the was the Pacific Fleet is the one that is they're monitoring their, their around Taiwan, they're around Australia, and around that whole area, and they will be the first to respond. But that's the only fleet we have. Right, we have other fleets as well. And we have submarines, which really nobody else has, like we. So that is the secret weapon currently. It's not the nuclear bomb. It's the submarine, which is interesting. 

And you want to hang on to that, remember that point, right? And the Navy, out of all the army forces, right? They are Navy is the most expensive to maintain, with the, the ships and the sailors and going back and forth, and the planes and you know, all that stuff. And so there's really nobody else in the world at this point that has committed and is able to keep a Navy as strong as ours. And so that is why the US patrols, all the oceans everywhere. You know, if there's pirates, us, we'll take care of it. And if there's a problem with the Suez Canal, or whatever us ends up taking care of.

if there is a war with China, right? If they take over Taiwan, the US and said, Hey, we're gonna we're going to protect Taiwan, if there is a war with China, all Chinese ships, everywhere around the world will be under fire. Basically, there'll be a blockade around China. And so they will only be able to ship their stuff overseas overland, which they're trying to do by building all these are they called the forgotten the Silk Road. They're building these projects to get, you know, transportation overland, instead of by sea, because they know they don't control the oceans, right now, all their stuff, comes on ships and containers, and then goes to different ports. That will stop. If there's a war. The US Navy, also guarantees the safety of Saudi Arabia's oil. Most of Saudi Arabia's oil and oil generally moves by ship. Right. So this is going back to the the Saudi one, the Saudi slide, where, hey, Mr. Saudi guy, if you go off the dollar, guess what, we're not going to protect your oil ships anymore. So they might be attacked by pirates or other countries or whatnot. Because you know, Saudi, you don't really get along with Iran very much. Iran has a tiny, a navy, but you Saudi, you don't. So who's going to protect your ships from Iran? So these are all little things that we need to keep in mind. So that's that. Next we have Russia. Okay. So Russia claimed recently that it's under attack, and it will fight back with nuclear weapons.

Now, most people you think that is like, oh, man, he's talking about Ukraine. Putin is talking about, you know, Putin was not talking about Ukraine. Putin was talking about something else. So the Nord Stream pipeline, if you guys know what that is, was a oil and gas pipeline from Russia to Germany. Now, Trump had made a big deal about it and said, No, no, they shouldn't have this pipeline. Germany should not allow it, blah, blah, blah. But he went through anyway, Russia built it Germany was okay with it. And it was sending gas and oil from Russia to Europe. But then something funny happened. They blew up.

Like, boom, now there's this huge pipeline, massively buried under the sea or under the ocean is at the bottom. I don't know if it's on the floor, or it's under whatever it is. But now, it's not usable. Like it just blew up. Somebody blew it up.

Who the heck would blow it up? Right. Who has the power to blow up a pipeline at the bottom of the ocean? I don't know. I mean, was it the sharks? probably know, right? Who is it? Who knows? And so now you have Russia saying hey, do that I'm gonna attack you know, so who is Russia talking to? And you know, was that another signal to Russia and China and Saudi Arabia that hey, look, don't push us don't mess with us.

These, like I said, could be conspiracy theory, could be true. Who knows? Right? We also had Biden canceling the Keystone pipeline. Right. So this was something that was started back in, I think it was under the Obama administration. They were looking at it, and they stopped it. And when it got approved later on, I think Donald Trump approved it. And then now Biden cancelled it again. Why would he do that? Why would he not buy oil from Canada? It doesn't make any sense. Canada is our partner. They're like the quasi 51st state right? There not causing us any problems. It's cheaper. It's right here, we can get all the oil we need and become energy independent. We don't have to buy any oil from Saudi Arabia anymore. We have enough oil between what we produce and and Canada to be self sufficient. Why would he do that? Well, without the pipeline, we still buy oil from Saudi Arabia.

But we buy it in dollars. Right? We tell them what we're going to pay it for it, we give them our dollars, that they have to then go and use and spend, and they have to proliferate the dollar. So it makes the dollar stronger. That makes sense. So it gives them another reason to stick to the dollar.

Then we have, what about anything else that could challenge the dollar? Right? How about Bitcoin? Could Bitcoin challenge the dollar? That's what a lot of people have been saying? That's why Bitcoin was created. So that, you know, no one currency, no one country could control the currencies? Well, we, John, I actually heard I went to this conference last year, as well. And John did a talk about the what he calls the Bitcoin cage. And there is a video on our YouTube channel about the Bitcoin cage, where it talks about how possibly the Fed is manipulating the price of Bitcoin, because they don't want any competition. And how Bitcoin is so small that it's very easy for the Fed to manipulate. And so for that reason, if that is true, Bitcoin is nearly not going to go up in price very much it might go down, but you know, it's just going to hang around. And it's never going to be able to replace the dollar. So that is something if you guys want, you can you can watch that as well. Now we go to gold, right? So if you go back in history to World War Two, the US had all the gold. And so automatically, there was negotiations involved, but the US and the dollar became the reserve currency. And the US had all the gold. That's why the United Nations is in New York. That's why everybody does everything in dollars. And so it was the strongest currency at the time. And it was backed by gold. So you could actually go to the government and say, Here, here's my dollar, I want $1 with the gold, and they would give it at one time, though. It we came illegal for people, individuals, citizens to own gold. You it was illegal for you to have gold coins, it was illegal for you to have bullion. Why, if gold is bad, if the dollar is backed by gold, why can't I own gold? Why? Because the US government was printing like crazy.

They had the power. They're like, Oh, we're in charge. We can do our what? Yeah, nobody knows how much gold we have. Let's just pray as much as we want of this stuff. And they've started printing and printing and printing. Other people notice this. And so at one time, France, they sent two ships to Manhattan, you know, and they said, Hey, we got all these dollars, we want to exchange it for gold, please, you know, take the dollars, give us the gold loaded up on our ships, and then we're gonna go back to France. And then the next day, literally the next day, Nixon goes on TV. I think he's on TV or the radio, not sure. And he announces that the US is going to temporarily stop giving out gold for dollars. He took us off the gold standard, and it was supposed to be temporary.

Okay, so they weren't gold back. That went away. We never went back to the gold standard. Now we are what they call Petro dollars, because all of oil has to be traded in dollars. They just have to. So if there's a country like let's say, I don't know, Sweden. Sweden wants to buy oil from Saudi Arabia. They don't go to Saudi Arabia and say here, here's money, give us the oil. They have to come to agreement with Saudi Arabia, then they have to go to the Treasury or the Fed or who somebody in the US to buy dollars. They have to exchange their own currency into dollars. 

Those dollars then get shifted into the Saudi Arabia account at the in the US. And then Saudi Arabia then sends the oil to Sweden. So all the currencies, all the exchanges, everything in oil has to be done in dollars. So that's why they call it Petro dollars. Right. And the US wants to make sure that continues. So we have now the next iteration. So we do have no longer gold backed by anything. So what else is going to happen right now in the past? When, when it became illegal to have gold? What was the reason why they say, Hey, you know, we don't want people to have gold? Well, number one, because they were printing too much. So they didn't have they didn't want that. But the government claimed at that time, that it was only the crooks the thieves, the mobsters the mafia, that was using gold. You know, normal people everyday, you and people you mean, we don't need gold? Why would you need gold, you're just normal guy, you can just use your dollars your cash, you know, it's lighter, it's easier to carry. But you're gonna carry all this gold, you're looking at stolen, you got to store it. Like what do that, you know, you don't need that stuff. Just use dollars, just use cash, and just use paper. And only the crooks are the ones that are using gold. So that's why we're making it illegal for anybody to have gold because we want to stop the crooks. That was the reason.

Okay. Now, we have the next iteration, which is, so we have the US digital currency.

So now this is the future, right?

A digital currency, kind of like us crypto would be cheaper to make easier to control is easier to create.

And it even goes a little bit further.

It can track everybody and everything. It can track everything you do. Everything you buy, everything you use everywhere you go. I mean, this is like deep, deep, deep conspiracy. Like they can track every single thing that you do. Right, they could probably shut it off and on. Like if they wanted to, like they could make your money like, like, if you're, you know, wanted by the government or whatever. They can be like, oh, yeah, this goes money can be used. Boom, there's a switch. And now all of a sudden, you're broke, you have no money, and you can't do anything with it.

Right. So I'm laughing, but it's kind of scary. It's really scary. Now, according to John, at first, the government is going to say, hey, look, we're coming out with this new currency. You know, you can use either one, you can use cash, you can use your dollars, or you can use the new digital currency, it's just gonna be easier for you, you know, it's like a, like a credit card. You know, you don't have to use it just real. It's real simple. It's much easier to maintain, it'll be cheaper. Everybody can use if you have a choice, you can do this one or this one. But eventually, there will come a time where they are going to say hey, you know what, you know who the only people are that use cash, drug dealers, smugglers, mobsters, crooks, right. Sound familiar. And at that point, they will outlaw all Fiat cash currency, you won't be able to have it anymore. You have to turn it into the government. And they will give you whatever digital currency they come up with. Stuff like this is already happening. India did this a few years ago. They got rid of all their bigger denominations. So they had like, I don't know what it was like a 10,000 rupee bill. And they made everybody turned that into the government. And then you got smaller bills, because they were saying that only the smugglers and the crooks were using the bigger bills. So everybody had to get rid of their smaller bills, paying the butt. But they're doing this. Jim Rogers, right, the other billionaire. He later mentioned that China is already doing the digital currencies, they already have one. And you have to use it. If you want to buy ice cream, you want to go in a taxi or do something small. They don't take Fiat cash anymore. You have to use the digital currency. Because they're, I mean, it's coming so they're doing it, they're pioneering it us is probably watching I'm copying them, they're gonna do the same thing. And then one more thing. Notice we have a banking crisis right now right banks are failing banks are in struggle, some banks are getting bailed out some banks are failing. Who decides? Right? The Fed? Well, which banks are being allowed to fail?

The ones that deal with crypto. Why? The Fed doesn't want any competition.

Right? They don't want to they don't want to continue to waste their time and effort can kind of manipulating Bitcoin and all that stuff. They can take out the banks.

Then nobody's gonna be trading it you won't be able to it's just gonna die on its own.

So according to John Biden's biggest mistake, right, be the biggest mistake he's made is that he kicked Russia off of Swift. Now, Swift is basically the banking system, where all transactions are conducted in dollars. So if Russia needs to send money to Saudi Arabia, Saudi Arabia and us and send money somewhere else, everything is conducted in dollars in Russia, and Russia was kicked off of this as part of the sanctions. So now, if you are an ally of the United States, or if you need for your neutral country, you're thinking you're like, man, they don't like Russia, they kicked them off of Swift that just made it really difficult for Russia to do business with anyone. They could do the same thing for us, they don't like us, you know, we get another crazy president, they kick us off. And that's not a good thing. So that did give the BRICS and other countries more reason to think about, okay, we need a separate currency, we need our own thing. We don't want the US to be in control anymore. So that was a big mistake. I don't know if they're going to read what they're going to do with it or what the future is going to be. But that was what John said. Now, one more big thing is the Fed and inflation, right? So

if you watch the news, you watch any of these stock shows everybody was saying the same thing, oh, the Fed is behind the curve Fed is behind, you know, the fell asleep at the switch. They're supposed to keep inflation down. But they didn't do anything. They let inflation get all the way up to 9%. And then they started raising rates, and they're raising rates so quickly, by law, everybody's bashing?

Why would the Fed allow inflation? Now, they have more data than anybody else? They know what's happening. Right? They get the data first. Why would they allow for inflation? Inflation, results in higher prices? Right? Everything goes up, that leads to people buying fewer things, which leads to a recession.

Would the Fed actually want us to go into recession? I don't know. If we go into recession, we buy even less things because people are getting laid off. They're not making much they're being careful. They're not making frivolous expenses and frivolous spending, right? So they buy even less things. And where does most of our stuff come from? Most of the stuff in your house in the store? Any store you go to? Where does it come from? Made in China,

made in China. So if we start buying stuff, China suffers, Chinese people get laid off, because they don't have enough manufacturing? already? Right now. You can look this up.

Men in the 16 to 25 age group. They're unemployed unemployment rate is 25%. China's economy is not doing as well as they say they are.

Right. They say China says total unemployment is 5%. But this age group, males 1625 or so 25% unemployment.

This is the group that causes revolution. This is the group that gets angry. You look at the Arab Spring, you look at the French Revolution. Look at Russian, you know, thingy, you look at the Tiananmen Square, who are all those people, they're youngsters.

You know, people in their 40s 50s 60s, they don't grow, they don't have a revolution is these guys who don't have a job have nothing else to do. They're angry. They're young, they feel they can do anything. They're the ones that start revolutions. So if America

Titan tightens the belt on spending, China suffers dramatically.

China might go into a recession, China might go down, right? And China and Chinese, they have a lot of people that they need to feed.

They have a lot more things to worry about, than Taiwan.

Does that make sense?

And then handling this, what are the Chinese going? What are the Chinese going to do? They're going to be going into debt to feed their people. They don't want these guys on the streets. They don't want all these men to be angry and meeting and talking. They want them to be happy and so they might just give them money. And how lockdowns COVID, lockdown zero COVID policy. Oh, well, that was..

You know, don't meetings no get together zero COVID Ah, yeah, see, stuff starts to make sense. What do we have zero COVID Three years or two years after COVID went away. Interesting. Ah, see? Okay.

All right. So that was John penny. I agree. A little bit conspiracy, but it starts to make sense. Now let's go into John Jim Rogers. So Jimmy here. He was a partner with George Soros at the quantum fund. They made billions together. And then he took his money and he left literally anywhere around the world twice. I told you that he had one book where he took motorcycles anyone around the world.

A few years later, he got married, and he got a car. And they drove around the world for their honeymoon. And then he wrote a book about that to both of them, I highly recommend both those books. And now he manages his own money. And he's, I mean, he's, he's getting up there, right? But this guy is wicked, wicked, smart, very smart guy and his mantra, his mantra is, you find where the money is. And you go, and you pick it up, working, overrated.

Trading, market timing, now he doesn't do. He's an investment. So he finds something that if it's really cheap, and it's cheaper than it costs or cheaper than it should be, he'll go and he'll buy it. And he'll sit and wait. So the price goes up. That's how he made all his money. When there are problems, that's where he invests. 

So right after a country has a revolution, right after a country is finishes a war, that's where he says, is the most opportunity, because that's when everything is cheap. That's when they're most spending happens, because they have to rebuild everything. So he goes into those areas, and he buys. So what does he think? What is he investing in right now? Not much, according to him, everything is very, very expensive right now. So he's not buying much at all. He's doing a few things. What he is doing is he is buying Japanese ETFs. So currently, according to him, the Bank of Japan, kind of like the Fed. They're printing money all day long. That's all they do. They're printing money, printing money, printing money, they're using that money to prop up the Japanese stock market. So they're buying Japanese stocks. And so he's like, hey, you know, you got this buyer, you got this floor in the market? Why don't I just buy stocks, too. So he's buying Japanese ETFs. And he's gonna keep buying them and holding them until the Bank of Japan stops because when he stops buying, then they're gonna fall, right? Because there's nobody else left to buy. So that's his strategy there. He's also buying stocks in Uzbekistan, maybe even in Kazakhstan. Now, I know, that's not something that we're going to be doing, most likely for most of us, but that's what he said. And then he's looking at things that are falling in price there haven't reached the bottom yet by commodities.

So he's like, you know, a lot of commodities are getting much cheaper, kind of like sugar gave one example of sugar. Because I'm, he's like thinking of getting it once it reaches the bottom. Now, he also wrote Jim Rogers did a book on commodities, and the supercycle of commodities and whatnot. So if you're interested in that, you know, picked that book up, it was really good. What else did he say? He said that the yuan, which is the Chinese currency, he said, it will not ever be the world's reserve currency because it's not convertible into others. That's the Chinese issue. They don't want to be converting it for some reason. So the yuan will never be the reserve currency. And then he says that all countries are working on a digital currency. So we heard that with the first speaker, right? That US is working on a digital currency, China has a digital currency already that is being forced.

Because of that crypto, Bitcoin Aetherium. All those, there's no need for them. And they're going to be going to zero because the countries will simply not allow them. So that's his thought process on that all Kryptos are going to zero. And then he did he somebody asked me a question about AI. So he did say AI is going to be huge. But he doesn't know how to invest in you get now this the next day is his biggest the biggest thing that he gave us the biggest takeaway, this is his biggest emphasis. And probably the most important for all of us, that the next bear market when it comes, he doesn't know when it comes. But the next bear market is going to be the worst of his life. It's gonna be even worse than 08-09 with the Great Recession, it's gonna be much bigger than that. And the reason is that there is way more debt than back then. Consumers have more debt, countries have more debt, and the world has more debt. It's just there's a lot more spending a lot more debt than ever, ever before.

Europe has debt. At that time in 0809. China had no debt at all. They didn't have any debt, they were running a surplus. Now they have debt, which they did not have before. So really, he's like, you know, who's gonna come to save us if there's a bear market, if there's a downturn, nobody, nobody's going to be able to save us is going to be every country for themselves.

He doesn't know when this is going to happen. But the one tip he gave to know when this has happened is right before it's going to happen. There will most likely be a blow-off market top, meaning that the market is just going to shoot up and it's going to go hyperbolic at some point. And then it's going to stop, turn around and then drop.

So that is the signal for most downturns most bear markets is that the market is going to route is going to rally and it's going to get exhausted. But before it gets exhausted, it just goes crazy. You know because everybody's out man you got a and yet again it's FOMO fear of missing out over and over everybody just putting all their money and all their money and all their money in then there's nobody left to buy anything just preference

he doesn't know when it's gonna happen because he's not a treatment. Okay, so and that is it.