1 00:00:00,680 --> 00:00:06,960 Good morning, Good morning everyone, GM, GM and welcome to 2 00:00:07,760 --> 00:00:14,600 another episode of Omo Hour Day. Day is Monday, April. 7th. 3 00:00:15,240 --> 00:00:20,920 Point .5 post We thought we thought it might be Black 4 00:00:20,920 --> 00:00:22,960 Monday. We had Black Thursday and Black 5 00:00:22,960 --> 00:00:24,520 Friday and then Black Sunday night. 6 00:00:24,520 --> 00:00:26,960 It was setting us up for a rough start to the week. 7 00:00:26,960 --> 00:00:30,280 Global markets crashing, US equities hitting bear market 8 00:00:30,280 --> 00:00:32,200 territory. Crypto was following. 9 00:00:32,200 --> 00:00:36,920 But now Trump's telling everyone don't be panicking and and 10 00:00:36,920 --> 00:00:39,440 markets are starting to respond. The question is, can we trust 11 00:00:39,440 --> 00:00:42,000 him or should we be panicking? We're going to break it all down 12 00:00:42,000 --> 00:00:44,360 on today's show. No Faroque. 13 00:00:44,400 --> 00:00:47,880 He is traveling today, but we've got Mando in the house. 14 00:00:47,960 --> 00:00:49,320 Mando, Jim, how are you holding up? 15 00:00:50,560 --> 00:00:52,880 I'm holding up OK. Yeah, I'm holding up OK. 16 00:00:52,880 --> 00:00:57,320 I've actually traded pretty well the last few days, so I've been 17 00:00:57,320 --> 00:00:59,200 relatively happy with how I did it. 18 00:01:02,120 --> 00:01:07,000 But yeah, we're luckily we we started bouncing as soon as the 19 00:01:07,000 --> 00:01:10,400 show went live. Otherwise it was looking to be a 20 00:01:10,400 --> 00:01:17,080 very stressed opening day the week for us. 21 00:01:17,520 --> 00:01:20,320 We can get into all that. But yeah. 22 00:01:20,840 --> 00:01:24,920 We will the tone of the show quite different starting at 10 23 00:01:24,920 --> 00:01:26,520 AM versus how do we start at 9:30. 24 00:01:27,240 --> 00:01:31,080 Yes, so very different. You were tuning into a very 25 00:01:31,080 --> 00:01:33,080 different episode of FOMO Hour, folks. 26 00:01:33,080 --> 00:01:35,480 It is going to be a tighter show here this morning, but we are 27 00:01:35,480 --> 00:01:37,320 going to talk everything about these markets. 28 00:01:37,320 --> 00:01:39,760 Stocks are falling Sunday night. It looks like they're starting 29 00:01:40,040 --> 00:01:42,800 to rebound despite Asia markets having I think one of their 30 00:01:42,800 --> 00:01:46,000 worst days of all time. We had folks crashing down the 31 00:01:46,000 --> 00:01:49,480 timeline, including Bill Ackman, JP Morgan raising their 32 00:01:49,480 --> 00:01:51,680 recession odds, Stanley Druckenmill are actually coming 33 00:01:51,680 --> 00:01:54,120 out and defending tariffs to a degree. 34 00:01:54,800 --> 00:01:57,400 And then Trump has started to respond more and more here 35 00:01:57,720 --> 00:02:00,640 yesterday and now this morning. So we're going to talk about 36 00:02:00,640 --> 00:02:02,800 that cryptos potential relative strength. 37 00:02:02,800 --> 00:02:06,880 Does anything look like a buy or are we still selling all of the 38 00:02:06,880 --> 00:02:09,919 pumps and more? So that's what we're going to 39 00:02:09,919 --> 00:02:12,760 talk about on today's show. Before we dive in, shout out to 40 00:02:12,760 --> 00:02:14,440 our partner starting with Galaxis. 41 00:02:14,440 --> 00:02:17,880 Galaxis is a web three platform empowering creators and brands 42 00:02:17,880 --> 00:02:20,320 to build unstoppable communities with full ownership and 43 00:02:20,320 --> 00:02:23,720 independence, trusted by icons like Donald Trump, Steve Aoki, 44 00:02:23,720 --> 00:02:27,040 Mike Tyson and the NBA, shaping together the future of 45 00:02:27,040 --> 00:02:31,560 engagement and wallet connect is the connectivity network shaping 46 00:02:31,560 --> 00:02:35,000 the future of on chain UX. If you've connected to a Web 3 47 00:02:35,000 --> 00:02:38,600 app, you've seen wallet connect that blue logo, it's everywhere. 48 00:02:38,600 --> 00:02:42,640 And I kind of trust in crypto as recognizable as Visa at the 49 00:02:42,640 --> 00:02:44,240 checkout. So if you want to learn more, 50 00:02:44,400 --> 00:02:47,920 well at wallet connect on X and Telegram to stay ahead of what's 51 00:02:47,920 --> 00:02:50,560 next. We love our partners as always. 52 00:02:50,560 --> 00:02:52,720 Now, Mando, if you're ready, let's get right into it. 53 00:02:58,120 --> 00:03:07,640 Can you dig it? GM everyone so yeah, we had a 54 00:03:07,640 --> 00:03:09,040 pretty wild weekend to be honest. 55 00:03:09,040 --> 00:03:11,080 Crypto have been outperforming for a little bit. 56 00:03:11,760 --> 00:03:16,920 Obviously on Friday it was and then what you started to see on 57 00:03:16,920 --> 00:03:19,200 Friday was that everyone was like, oh, you know, we've had 58 00:03:19,200 --> 00:03:23,240 this good correlation to gold, even gold side to sell off. 59 00:03:23,240 --> 00:03:27,480 So there was kind of this oh God, everything's about to nuke 60 00:03:27,840 --> 00:03:32,600 sort of market here and crypto seemingly got caught up in that 61 00:03:32,600 --> 00:03:34,480 as well. So you saw gold, but go down to 62 00:03:34,480 --> 00:03:42,360 3K from where was it about 3103 thousand 200 nearly and you saw 63 00:03:42,600 --> 00:03:44,400 global stock. There was just I think there was 64 00:03:44,400 --> 00:03:47,160 an expectation on Friday that maybe deals would get done over 65 00:03:47,160 --> 00:03:48,640 the weekend. You know, maybe there'll be a 66 00:03:48,640 --> 00:03:52,760 deal done with the UK, with Canada, with Japan, like maybe, 67 00:03:52,800 --> 00:03:56,280 maybe they'd be light at the end of the tunnel for these sort of 68 00:03:56,280 --> 00:03:59,320 deals. And it, it just didn't seem to 69 00:03:59,320 --> 00:04:04,040 be the case. In in fact, Trump's comment made 70 00:04:04,040 --> 00:04:08,000 some comments last night, which is like Europe owes the US 71 00:04:08,560 --> 00:04:11,360 reparations for previous trade deficits. 72 00:04:12,280 --> 00:04:16,399 And it felt like they were maybe even drifting apart this 73 00:04:16,399 --> 00:04:18,399 morning. You've seen a slight softing 74 00:04:18,399 --> 00:04:22,240 from certain points. So you saw Europe said, hey, 75 00:04:22,240 --> 00:04:25,880 we're actually going to delay our retaliatory, retaliatory 76 00:04:25,960 --> 00:04:32,000 tariffs until later this month. And then they said, and leave 77 00:04:32,000 --> 00:04:33,720 the door open maybe for a deal to be done. 78 00:04:34,120 --> 00:04:37,440 You saw that Japan's Prime Minister said they'd had a call 79 00:04:37,440 --> 00:04:41,320 with the US and maybe that could lead to a deal. 80 00:04:41,880 --> 00:04:46,520 We saw that, yeah, just a general like slight, slight 81 00:04:46,520 --> 00:04:49,520 softening or or at least indication that that that that 82 00:04:49,520 --> 00:04:52,720 could still be a route open for deals, not really from Trump, 83 00:04:53,040 --> 00:04:54,760 but from other people, let's say. 84 00:04:55,960 --> 00:04:57,760 And some indications, you know, from people in the 85 00:04:57,760 --> 00:04:59,720 administration that countries are reaching out. 86 00:04:59,720 --> 00:05:02,080 We had the figure that fifty countries had reached out for 87 00:05:02,080 --> 00:05:05,080 deals. And I think everyone just felt 88 00:05:05,080 --> 00:05:07,440 slightly better about the market after that. 89 00:05:08,800 --> 00:05:11,320 This morning. We were selling off and then 90 00:05:12,080 --> 00:05:15,080 there was there was a headline first thing, which was a little 91 00:05:15,080 --> 00:05:17,160 bit of a bounce, which is probably the bottom looking back 92 00:05:17,160 --> 00:05:20,000 at it, which is that the Fed is holding a meeting today that is 93 00:05:20,000 --> 00:05:22,000 actually a fairly standard meeting for them. 94 00:05:23,440 --> 00:05:26,320 So I wouldn't read too much into it, although they have done 95 00:05:26,440 --> 00:05:31,000 special meetings like that around COVID and also around the 96 00:05:31,680 --> 00:05:38,600 the SSVPSVB collapse, you know, two years ago. 97 00:05:39,600 --> 00:05:43,280 It doesn't like that what's happening today, but undeniably, 98 00:05:43,280 --> 00:05:46,280 I'm sure they'll be talking about what's going on in the 99 00:05:46,280 --> 00:05:49,600 stock market. And broadly this, this was a up 100 00:05:49,600 --> 00:05:52,440 until now, like rest of world stocks have broadly up 101 00:05:52,480 --> 00:05:56,160 outperformed U.S. stocks. Today was the come of the day 102 00:05:56,160 --> 00:05:58,760 that that changed. So Chinese stocks closed down 103 00:05:59,840 --> 00:06:05,800 13%. In Hong Kong, DAX was down 10%. 104 00:06:06,760 --> 00:06:09,720 Various different European stock indexes were down 5 to 10%. 105 00:06:09,720 --> 00:06:12,520 It was it was definitely a bloodbath kind of across the 106 00:06:12,520 --> 00:06:14,760 board. And I think people were 107 00:06:14,760 --> 00:06:17,680 definitely feeling it, definitely feeling it this 108 00:06:17,680 --> 00:06:19,000 morning. And I'm wondering how, how it's 109 00:06:19,000 --> 00:06:22,360 going to get fixed. You did see now what I've been 110 00:06:22,360 --> 00:06:26,000 saying is that the response to this has to be stimulus. 111 00:06:27,840 --> 00:06:29,000 And I think that's what we're going to see. 112 00:06:29,000 --> 00:06:30,960 I think we're going to see already China said we're going 113 00:06:30,960 --> 00:06:33,000 to do some sort of stimulus, extra stimulus package this 114 00:06:33,000 --> 00:06:36,400 morning. And so this idea that global 115 00:06:36,400 --> 00:06:40,120 liquidity will go higher feels likely to me. 116 00:06:41,280 --> 00:06:44,120 And and we're going to see money printing to kind of help deal 117 00:06:44,120 --> 00:06:46,200 with the help deal with the issues. 118 00:06:46,200 --> 00:06:50,920 So yeah, I think I think I'm not feeling as bad about stuff this 119 00:06:50,920 --> 00:06:52,640 morning. At least I can see we can have a 120 00:06:52,640 --> 00:06:56,880 relief rally. I don't think, I don't think 121 00:06:56,880 --> 00:06:59,560 we're out of the woods by any means like Trump. 122 00:07:01,040 --> 00:07:03,360 Trump is still pointing to the idea that, you know, there 123 00:07:03,360 --> 00:07:06,000 should be no trade deficits between countries. 124 00:07:06,920 --> 00:07:11,440 And I feel like his base is also kind of like they're kind of 125 00:07:11,440 --> 00:07:15,760 behind him on this. Like, weirdly, this is the story 126 00:07:15,760 --> 00:07:19,640 has kind of changed to lowering tariffs to like this being a way 127 00:07:19,640 --> 00:07:24,160 to like redistribute wealth and actually feels like that's like 128 00:07:24,160 --> 00:07:26,720 empowering the Trump base. So I don't necessarily think 129 00:07:26,720 --> 00:07:30,520 that he I've been thinking a lot about why this is happening. 130 00:07:30,920 --> 00:07:34,040 Yeah. And for me, it feels as though 131 00:07:34,040 --> 00:07:38,160 there's been an like a kind of implicit decision that one of 132 00:07:38,160 --> 00:07:42,960 the only ways to improve income inequality in the US is to try 133 00:07:42,960 --> 00:07:48,320 and basically cut trade deficits with external countries rather 134 00:07:48,320 --> 00:07:50,800 than tax on which. And that's kind of where we're 135 00:07:50,800 --> 00:07:52,560 at. Yeah. 136 00:07:52,560 --> 00:07:55,160 And I think that's fairly spot on. 137 00:07:55,160 --> 00:07:58,080 And I mean some more thought. I've spent most of the weekend 138 00:07:58,080 --> 00:08:01,000 thinking about this and like, what are the scenarios from 139 00:08:01,000 --> 00:08:02,280 here? And I don't think there's really 140 00:08:02,280 --> 00:08:05,840 any scenario where Trump just like totally backs down and 141 00:08:05,840 --> 00:08:09,520 reverses course. I think perhaps the optimistic 142 00:08:10,000 --> 00:08:15,480 outcome is he truly was using these absurd numbers as 143 00:08:15,480 --> 00:08:19,600 negotiation tactic and tries to you know, when, when the 144 00:08:19,600 --> 00:08:26,280 negotiations here and get down to 10 percent, 20% more somewhat 145 00:08:26,280 --> 00:08:28,720 more reasonable level, it's still going to have an impact. 146 00:08:30,600 --> 00:08:33,919 But I mean, I think even that's a question, right I. 147 00:08:34,200 --> 00:08:35,640 I'm not sure if he wants to do that. 148 00:08:35,679 --> 00:08:38,080 I've been like, I've been debating this a little bit, 149 00:08:38,080 --> 00:08:41,280 like, and I use Vietnam because it's a good example. 150 00:08:41,799 --> 00:08:46,280 But like the general thesis seems to be that like, let's say 151 00:08:46,280 --> 00:08:47,960 there's a group of people that live in the countryside and a 152 00:08:47,960 --> 00:08:50,440 group of people that live in a big mega city like New York, 153 00:08:50,720 --> 00:08:56,800 right? And the basis of this is that do 154 00:08:56,800 --> 00:08:59,600 you think, do you think there should be 0 trade balance 155 00:08:59,600 --> 00:09:02,600 between those two people? It seems natural that like the 156 00:09:02,600 --> 00:09:06,960 country would import more than exports back to the countryside, 157 00:09:07,080 --> 00:09:09,400 let's say, or, or where there's cheaper labour. 158 00:09:11,240 --> 00:09:14,600 Now the Trump, how this is working is basically saying 159 00:09:14,760 --> 00:09:17,040 there should be no trade deficit between the two of them. 160 00:09:17,040 --> 00:09:18,960 If there is, we're going to tax you. 161 00:09:19,440 --> 00:09:22,520 And that puts a country like Vietnam, like it can't, it can't 162 00:09:22,520 --> 00:09:24,960 import enough to, to, to fix that sort of an issue. 163 00:09:25,520 --> 00:09:29,520 But, and there seems to be like expectation that actually we 164 00:09:29,520 --> 00:09:32,400 kind of want to do some of the stuff that's going on in the 165 00:09:32,400 --> 00:09:35,520 countryside, in the big mega city like New York, like, hey, 166 00:09:35,600 --> 00:09:40,680 actually we want to do that too. And I think that's that's kind 167 00:09:40,680 --> 00:09:43,120 of what's going on here. It's more like they want to 168 00:09:43,560 --> 00:09:46,760 actually redistribute the wealth inside the USA little bit more. 169 00:09:47,320 --> 00:09:50,600 And that is quite a popular thing with Trump, with Trump's 170 00:09:50,600 --> 00:09:54,240 base and with a lot of people. And at other times that's tried 171 00:09:54,240 --> 00:09:57,640 to happen, it's like we're going to we're going to basically tax 172 00:09:57,640 --> 00:09:59,800 the wealthy. And that is seen as kind of like 173 00:09:59,800 --> 00:10:02,920 a kind of at odds with the American dream. 174 00:10:03,720 --> 00:10:06,680 I I would say, or like it's seen as like, you know, it goes in 175 00:10:06,760 --> 00:10:10,560 against incentives. But this way they're basically 176 00:10:10,560 --> 00:10:14,320 you just tax anyone who import who has a trade deficit with the 177 00:10:14,560 --> 00:10:17,920 US. Everyone doesn't necessarily do 178 00:10:17,920 --> 00:10:21,000 better in that scenario. Like everyone can actually do a 179 00:10:21,000 --> 00:10:22,360 little bit worse in that scenario. 180 00:10:22,360 --> 00:10:26,000 But the US is the strongest economy by far, best, best 181 00:10:26,160 --> 00:10:30,280 demographics, biggest, biggest military, like easily has the 182 00:10:30,280 --> 00:10:31,720 most firepower to deal with this. 183 00:10:31,960 --> 00:10:35,040 So it's kind of one of these worlds where I think the the bet 184 00:10:35,040 --> 00:10:39,400 here is the US will do better than every other country if this 185 00:10:39,400 --> 00:10:46,120 happens. Like I would say global wealth 186 00:10:46,120 --> 00:10:50,600 may come down in that world, but you also get a situation where 187 00:10:50,600 --> 00:10:53,320 the US redistributes it's wealth in a certain way. 188 00:10:53,320 --> 00:10:57,120 So and I think that's kind of what Maga's changing. 189 00:10:57,120 --> 00:10:59,800 It's, well, not really changing, but like they're fine with that. 190 00:11:00,040 --> 00:11:01,840 So I don't think Trump's backing down on this. 191 00:11:01,840 --> 00:11:05,720 I think this is kind of like, I think he kind of wants this. 192 00:11:06,440 --> 00:11:10,600 Yeah, Yeah. I mean, he's, he said as much. 193 00:11:10,600 --> 00:11:14,400 I mean, he, he came out and said our intention was not to crash 194 00:11:14,400 --> 00:11:17,640 markets, but also that sometimes you got to take medicine. 195 00:11:18,560 --> 00:11:21,880 And like the, they've been saying, there could be some 196 00:11:21,880 --> 00:11:24,800 pain. I've, I've had, I'm in law. 197 00:11:24,880 --> 00:11:26,840 People have been trying to digest this all the, over the 198 00:11:26,840 --> 00:11:28,200 weekend. Some are saying like, at what 199 00:11:28,200 --> 00:11:32,760 point would we see civil unrest perhaps in the US? 200 00:11:34,280 --> 00:11:35,720 But I think you kind of nailed that. 201 00:11:35,720 --> 00:11:39,400 I, I don't know that we are very close to that scenario at all, 202 00:11:39,800 --> 00:11:42,800 because the, the, the people most disproportionately impacted 203 00:11:42,800 --> 00:11:45,480 are the wealthiest, right? And and they're not be the ones 204 00:11:45,480 --> 00:11:51,840 who who take to the streets and I don't think most most people 205 00:11:51,840 --> 00:11:53,680 are are are they're not impacted yet. 206 00:11:53,840 --> 00:11:55,920 I think it's it's still to be seen. 207 00:11:56,640 --> 00:12:03,120 Give me give me one quick second, but. 208 00:12:03,320 --> 00:12:05,360 Yeah, I, I think that's basically what's going on. 209 00:12:05,840 --> 00:12:10,640 I, I don't think, I think he might win, win people over this 210 00:12:10,640 --> 00:12:12,240 way. It's definitely an America First 211 00:12:12,240 --> 00:12:17,280 policy and it does affect multinational corporations quite 212 00:12:17,280 --> 00:12:19,760 badly. But again, like a lot of people 213 00:12:19,760 --> 00:12:22,040 in the US don't like multinational corporations. 214 00:12:23,520 --> 00:12:28,600 So, and there's all other attempts to kind of solve income 215 00:12:28,600 --> 00:12:34,000 inequality are generally seen as they, they just, they're not as 216 00:12:34,000 --> 00:12:38,320 popular. It, it's, it's, it's, it's a 217 00:12:38,320 --> 00:12:42,720 weird notion, but like taxing the rich is far less popular 218 00:12:42,960 --> 00:12:45,840 than taxing, taxing foreign countries. 219 00:12:46,640 --> 00:12:50,640 And even though the tax on foreign countries can reduce 220 00:12:50,640 --> 00:12:56,240 your everyone's economic wealth, including the US more, the 221 00:12:56,240 --> 00:12:59,200 concept is, is that that is one of the best ways potentially to 222 00:12:59,600 --> 00:13:01,840 reduce income inequality in, in the US. 223 00:13:03,640 --> 00:13:06,960 And I see it, you know, like I see it from more right wing 224 00:13:06,960 --> 00:13:09,320 commentators that like, this is the narrative. 225 00:13:09,320 --> 00:13:12,920 Suddenly it's like, hey, we've actually fixed income inequality 226 00:13:12,920 --> 00:13:17,200 more than like the left has for like 50 years here, right. 227 00:13:19,120 --> 00:13:21,640 And that's something that's actually a little bit popular. 228 00:13:21,640 --> 00:13:24,560 So I, I kind of feel as though this can continue. 229 00:13:24,960 --> 00:13:27,080 And I don't think he's in a rush to make deals. 230 00:13:27,080 --> 00:13:29,560 Yeah. I think, but what's? 231 00:13:30,160 --> 00:13:33,800 Bitcoin and crypto, I think it's as I've said before, I think 232 00:13:33,800 --> 00:13:38,640 this is going to lead to massive stimulus, which is already 233 00:13:38,640 --> 00:13:43,000 happening. And I think that there's 234 00:13:43,040 --> 00:13:47,440 potentially also an erosion of dollar power in this world, or 235 00:13:47,440 --> 00:13:51,760 at least like what all Fiat currency power I feel can be 236 00:13:51,760 --> 00:13:55,240 slightly diminished here. Like if free trade is diminished 237 00:13:56,040 --> 00:14:00,000 in this world, then then you can imagine that, yeah, like few 238 00:14:00,000 --> 00:14:01,960 people need dollars, few people want to borrow in dollars. 239 00:14:02,120 --> 00:14:04,440 Fewer people want to do that in, in various different countries. 240 00:14:04,440 --> 00:14:09,880 If that gets diminished. So I'm, yeah, I, I, I think, I 241 00:14:09,880 --> 00:14:12,440 think, I think crypto can still do well. 242 00:14:12,680 --> 00:14:14,720 I, I really do. I was surprised that they traded 243 00:14:14,720 --> 00:14:17,680 badly this weekend, but you have to remember it's the most risk 244 00:14:17,680 --> 00:14:20,960 on asset that is 24/7. So people go in and they're 245 00:14:20,960 --> 00:14:25,000 like, need to short it on a on a weekend, you know? 246 00:14:26,720 --> 00:14:30,480 This is sorry, I I literally exclaimed when I when I went 247 00:14:30,480 --> 00:14:33,680 back to the crypto board folks, because this is not quite the 248 00:14:33,680 --> 00:14:39,760 rebound Bitcoin back over 80 K. It was it went sub 76 on the 249 00:14:39,760 --> 00:14:47,440 market open just 45 minutes ago and now like the weekly numbers, 250 00:14:48,040 --> 00:14:51,880 we just had the one of the worst three days stretches. 251 00:14:52,680 --> 00:14:54,000 Now, of course, stocks are rebounding. 252 00:14:54,000 --> 00:14:57,800 The S&P flips green as well, but in U.S. equity history and 253 00:14:57,800 --> 00:14:59,640 bitcoins down 3 1/2 percent on the week. 254 00:15:00,720 --> 00:15:03,720 I think that's pretty, that's, that's a pretty strong signal 255 00:15:03,760 --> 00:15:06,000 and, and Sailor didn't buy. He came out and said it. 256 00:15:06,560 --> 00:15:08,600 What a great week for Sailor not to have bought. 257 00:15:08,840 --> 00:15:12,240 I guess perhaps for our confidence, because I think 258 00:15:12,240 --> 00:15:14,920 there was, maybe we'll find out if GameStop was the one buying 259 00:15:14,920 --> 00:15:16,440 Friday. I think Friday was where it 260 00:15:16,440 --> 00:15:21,120 really felt like there was a strong bid when it was Friday 261 00:15:21,120 --> 00:15:23,560 afternoon and equities kept falling off a Cliff and then 262 00:15:23,560 --> 00:15:25,640 Bitcoin was holding that 83K level. 263 00:15:26,680 --> 00:15:29,120 And I think a lot of folks thought it was either strategy 264 00:15:29,120 --> 00:15:33,240 or or GameStop, but. I just don't think we're like, 265 00:15:33,480 --> 00:15:39,800 I'll be very don't confuse volatility with we're so back or 266 00:15:39,960 --> 00:15:41,440 it's so over. I think we're just in a period 267 00:15:41,440 --> 00:15:44,800 of very heightened, like even now you have like, Oh my God, 268 00:15:44,800 --> 00:15:49,160 we're going, we're so back. Just be aware that this is a 269 00:15:49,160 --> 00:15:50,920 market that is insanely volatile. 270 00:15:50,920 --> 00:15:54,320 Like I, I said it over before we went live, I was like, it just 271 00:15:54,320 --> 00:15:57,640 feels like we're about to bounce just because like, it's not that 272 00:15:57,640 --> 00:15:59,200 any good news had really come out. 273 00:15:59,560 --> 00:16:01,160 It's not like Trump suddenly changed his opinion. 274 00:16:01,160 --> 00:16:03,840 It's just like everyone just feels like they're, they're too 275 00:16:03,840 --> 00:16:06,080 short. So no, in that world, like 276 00:16:06,080 --> 00:16:11,520 there's extremes of positions right now and you can gap up 10% 277 00:16:11,920 --> 00:16:15,040 and there'd be no news, literally nothing. 278 00:16:15,640 --> 00:16:18,280 So I feel like that's also the world we're in. 279 00:16:18,280 --> 00:16:24,640 So I, I think Bitcoin can continue to outperform global 280 00:16:24,640 --> 00:16:29,040 stocks, everything here, but it had a bad weekend and it 281 00:16:29,040 --> 00:16:30,800 sometimes does. Do you remember like when all 282 00:16:30,800 --> 00:16:33,880 the Middle Eastern wars were happening or like flare ups were 283 00:16:33,880 --> 00:16:35,880 happening? It was just like, why is Bitcoin 284 00:16:35,880 --> 00:16:38,000 the thing? There was a little bit of that 285 00:16:38,000 --> 00:16:39,760 this weekend where it was just like, right, we're just going to 286 00:16:39,760 --> 00:16:44,800 pummel Bitcoin into the US stock market open because everyone's 287 00:16:44,800 --> 00:16:49,440 freaking out and that that, but this is a good sign. 288 00:16:49,640 --> 00:16:56,320 The fact that it held that 7676 K level which is hit a few times 289 00:16:56,320 --> 00:16:58,280 again is a good sign. Definitely a good. 290 00:16:59,160 --> 00:17:02,480 Sign I'm curious if you so I've seen more and more of the the 291 00:17:02,480 --> 00:17:06,000 bear takes that we would effectively erase the entire 292 00:17:06,440 --> 00:17:10,280 Trump pump on Bitcoin basically taking us back to like 66 K. 293 00:17:12,200 --> 00:17:16,800 Do you have any targets? On Bitcoin. 294 00:17:17,200 --> 00:17:20,119 On Bitcoin, again any lower targets that you think are 295 00:17:20,119 --> 00:17:24,720 possible or the levels that you feel the seem seem safer or 296 00:17:24,800 --> 00:17:26,960 curious if if that's how you're looking at it or? 297 00:17:27,720 --> 00:17:29,960 Feels like it's a really good sign that it hit that level 298 00:17:29,960 --> 00:17:34,520 again. 76 Ki think there'll be a lot of by walls now that 76K 299 00:17:34,520 --> 00:17:39,720 level. I don't think we're out of I 300 00:17:40,920 --> 00:17:42,080 don't think we're out of the woods though. 301 00:17:42,200 --> 00:17:48,760 Like this feels like a a relief rally rather than like, oh, 302 00:17:48,760 --> 00:17:50,720 something's going to come and save us. 303 00:17:50,800 --> 00:17:52,560 You know what I mean? I think a lot of people are just 304 00:17:52,560 --> 00:17:57,280 so used to the COVID situation where it's just like, we're 305 00:17:57,280 --> 00:18:00,240 going to turn on the taps, something fundamentally change. 306 00:18:00,240 --> 00:18:03,280 We're going to save everyone. No one's coming to save this 307 00:18:03,280 --> 00:18:05,160 market here. It doesn't feel like it. 308 00:18:05,920 --> 00:18:10,280 We've just spoken about how Trump's incentives are maybe 309 00:18:10,280 --> 00:18:14,800 even to continue this. And we've just spoken about and 310 00:18:14,800 --> 00:18:16,840 the Fed basically came out on Friday and said we're not going 311 00:18:16,840 --> 00:18:21,720 to help. So your best bet here, in my 312 00:18:21,720 --> 00:18:28,360 opinion, is the Chinese central bank, potentially Japanese 313 00:18:28,360 --> 00:18:31,760 central bank, potentially European Central Bank, British, 314 00:18:32,160 --> 00:18:36,880 you know, the, the, yeah, the British central central bank. 315 00:18:36,880 --> 00:18:41,920 And potentially then we get a, yeah, we get money printing 316 00:18:41,920 --> 00:18:44,080 from, from them or money printing by another name. 317 00:18:44,080 --> 00:18:46,200 It doesn't feel like the Fed wants to step in here. 318 00:18:46,320 --> 00:18:48,560 And that's been, that has been something that has happened 319 00:18:48,560 --> 00:18:52,880 since 2008 and it hasn't, doesn't look, it looks like 320 00:18:52,880 --> 00:18:54,160 things are going to have to get a lot worse. 321 00:18:54,480 --> 00:18:56,640 And the, the, the thing that's interesting, a lot of people 322 00:18:56,640 --> 00:18:59,800 have been talking about the fact that, oh, he wants to get the 10 323 00:18:59,800 --> 00:19:03,040 year lower. This is the day where the 10 324 00:19:03,040 --> 00:19:06,040 year is higher. It's gone back to 4.1%. 325 00:19:09,080 --> 00:19:11,160 You know, this is going to lead to inflation. 326 00:19:11,680 --> 00:19:14,440 It's not easy for the Fed to come and just cut rates. 327 00:19:14,680 --> 00:19:16,120 Like Trump keeps on talking about that. 328 00:19:16,120 --> 00:19:20,600 But like, it's not easy. Jerome Powell's probably sitting 329 00:19:20,600 --> 00:19:21,760 there going like, I'm going to wait and see. 330 00:19:21,760 --> 00:19:25,880 Like I, I don't want to cut rates if inflation's going to 331 00:19:25,880 --> 00:19:28,520 continue higher. So I would, yeah. 332 00:19:28,520 --> 00:19:31,440 I just be wary of, of thinking the Fed is going to save you. 333 00:19:31,440 --> 00:19:34,440 I think you you got to hope weirdly that that you basically 334 00:19:34,440 --> 00:19:36,480 see money printing coming out of other countries. 335 00:19:37,440 --> 00:19:40,840 I've seen totally two different, totally different schools of 336 00:19:40,840 --> 00:19:42,600 thought. Some were saying that a rate 337 00:19:42,600 --> 00:19:44,840 hike is even on the cards for 2025. 338 00:19:44,840 --> 00:19:49,640 And then you've got like this polling market rate cut market 339 00:19:49,640 --> 00:19:57,080 has five cuts at 15% chance. Now let's see four cuts is up to 340 00:19:57,080 --> 00:20:03,320 20%, three cuts at 20%. So, so folks, I think that's in 341 00:20:03,320 --> 00:20:06,880 line with with. Other markets as well that that 342 00:20:06,880 --> 00:20:09,600 what 4 to 5 are starting to get priced in over the weekend. 343 00:20:10,000 --> 00:20:13,080 I thought I saw, but that's going to continue to be very 344 00:20:13,080 --> 00:20:14,360 volatile. I mean, clearly prices are 345 00:20:14,360 --> 00:20:16,320 incredibly volatile live as we're speaking. 346 00:20:16,320 --> 00:20:19,560 So we were, we were over 80 K. Now we're back at 78 six. 347 00:20:20,360 --> 00:20:22,160 So we're just bouncing all over the board. 348 00:20:22,440 --> 00:20:25,440 I am curious, you said you had a good weekend trading like is any 349 00:20:25,520 --> 00:20:27,560 are are you buying? Are you just scalping? 350 00:20:27,560 --> 00:20:31,880 I know OV came out and shared that he effectively sold an 351 00:20:31,880 --> 00:20:39,760 Autoglyph and bought AI16Z, but. I bought I bought far coin on 352 00:20:39,760 --> 00:20:42,320 Friday, which has probably been my best trade for the weekend. 353 00:20:44,200 --> 00:20:49,240 And then I have just traded around some of the L ones and 354 00:20:49,840 --> 00:20:53,720 time some of these moves relatively well getting in and 355 00:20:53,720 --> 00:20:56,440 out. So that I've been, I've been 356 00:20:56,440 --> 00:20:58,760 definitely more day trading over the last because the swings have 357 00:20:58,760 --> 00:21:02,840 been insane. But like the gap down from 358 00:21:02,840 --> 00:21:07,320 Sunday, I largely avoided. And then I bought just before we 359 00:21:07,320 --> 00:21:10,360 went live and I just told you to OSF like I was like, I think 360 00:21:10,360 --> 00:21:12,040 we're going to bounce here. I've bought a bunch of things. 361 00:21:12,040 --> 00:21:14,840 So I've traded well the last few days for sure. 362 00:21:14,840 --> 00:21:19,280 It's probably one of my best trading periods for the last 363 00:21:19,280 --> 00:21:23,160 three months. Well, you, you love to hear it. 364 00:21:25,400 --> 00:21:27,240 I feel like I've been talking about this maybe too much but 365 00:21:27,240 --> 00:21:31,040 this far coin strength is just like insane to see. 366 00:21:31,040 --> 00:21:34,120 Are we just we're having global market meltdowns? 367 00:21:35,520 --> 00:21:37,800 It's like circuit Breakers are being hit. 368 00:21:39,560 --> 00:21:43,120 Yeah, it's good that it's returned to the common like 369 00:21:43,600 --> 00:21:47,240 Fintwit, right? It's definitely being spoken 370 00:21:47,240 --> 00:21:50,040 about on Fintwit again a lot more, which I think is just 371 00:21:50,040 --> 00:21:52,520 interesting because it was a period where it was like, Oh 372 00:21:52,520 --> 00:21:55,080 yeah, it's over. But now like, it's like, Oh my 373 00:21:55,080 --> 00:21:58,840 God, fart coin is the one thing outperforming the S&P 500. 374 00:21:58,880 --> 00:22:00,600 And that's a great story again, so. 375 00:22:01,800 --> 00:22:06,720 Yeah, these things die not from FUD, but in in silence, like the 376 00:22:07,640 --> 00:22:10,160 you you want the attention factor. 377 00:22:10,800 --> 00:22:14,160 And I mean now, like the mind shares like is quite like is off 378 00:22:14,160 --> 00:22:16,920 the charts like cookies still measuring this and they they 379 00:22:16,920 --> 00:22:20,280 still have fartcoin in the AI bucket, for what that's worth. 380 00:22:20,720 --> 00:22:26,440 But it's it's 30%. Me, me in general, me in general 381 00:22:26,480 --> 00:22:31,680 held up OK here in my opinion. SPX as well had a had a decent 382 00:22:31,680 --> 00:22:36,120 period here. He's back at still at five, 2500 383 00:22:36,120 --> 00:22:39,360 ish. Those two in particular have 384 00:22:39,360 --> 00:22:44,360 held up very well so. Is there, I was thinking about 385 00:22:44,360 --> 00:22:45,320 this a little bit over the weekend. 386 00:22:45,320 --> 00:22:50,440 Like is, is this a sign of like financial nihilism returning to 387 00:22:50,480 --> 00:22:54,360 a degree like, oh, like markets are all fucked there. 388 00:22:54,360 --> 00:22:55,960 There's nothing I can do about it. 389 00:22:57,120 --> 00:23:02,280 I'm just going to go back to the, the the if I can't buy what 390 00:23:02,280 --> 00:23:07,040 considered value assets because they're all going down 5 to 8% 391 00:23:07,040 --> 00:23:09,920 per day. Strong stocks are are doing the 392 00:23:09,920 --> 00:23:11,520 same. Like, why not just fired into 393 00:23:11,520 --> 00:23:12,640 memes? I don't know. 394 00:23:14,600 --> 00:23:17,560 That's just a thought that was crossing my head as I try to 395 00:23:17,560 --> 00:23:21,120 wrap my head around why these these memes are outperforming 396 00:23:21,240 --> 00:23:24,680 and like these these are the top 2 movers of the entire top 100 397 00:23:24,680 --> 00:23:29,280 crypto tokens right now as far coining SPX, so it's pretty 398 00:23:29,280 --> 00:23:34,680 undeniable. Yeah, yeah. 399 00:23:34,680 --> 00:23:41,960 I don't really know. Like it feels like it feels like 400 00:23:42,120 --> 00:23:49,120 those two in particular are just going to be like the ones at 401 00:23:49,120 --> 00:23:55,840 least in the, in the, in the broader meme point space, those 402 00:23:55,840 --> 00:23:58,120 two have been like chosen as the ones that like people want to 403 00:23:58,120 --> 00:24:00,680 own on days like today. So yeah, it's. 404 00:24:01,160 --> 00:24:04,480 I would tend to agree. The. 405 00:24:04,800 --> 00:24:07,040 Question is, does that mean displace? 406 00:24:07,040 --> 00:24:10,320 Are they going to displace other traditional memes or are they 407 00:24:10,320 --> 00:24:15,320 just the new editions? I think one of the questions 408 00:24:15,360 --> 00:24:21,280 here, it's like, where's Mog Mog's green today? 409 00:24:21,280 --> 00:24:26,360 MOG is getting destroyed, yeah. It's 120 million. 410 00:24:26,480 --> 00:24:31,480 Wow. Yeah, Mog's been destroyed. 411 00:24:31,840 --> 00:24:37,600 Like honestly annihilated so. Perhaps there there is a 412 00:24:37,600 --> 00:24:40,200 changing of the guard to a degree here. 413 00:24:40,200 --> 00:24:43,120 I think the other chart that's been absolutely destroyed is 8 414 00:24:43,120 --> 00:24:47,080 Bitcoin. I don't know if you've been 415 00:24:47,080 --> 00:24:50,600 seeing this, but this morning it it it broke point O2. 416 00:24:50,600 --> 00:24:54,920 Is it point O 1/9? It was 52 ETH for one Bitcoin 417 00:24:56,600 --> 00:24:59,000 and I got like where where is the bottom? 418 00:24:59,000 --> 00:25:02,360 Like are we going to see 75 to 100 to one? 419 00:25:03,600 --> 00:25:05,120 Are there scenarios where that happens? 420 00:25:06,240 --> 00:25:09,920 It's just 52 seemed like a far fetched number. 421 00:25:10,120 --> 00:25:14,040 On January 1st it was 27 to 1 and now it's 52 to one. 422 00:25:14,200 --> 00:25:21,560 Try to pull this up. So we're just kind of running 423 00:25:21,560 --> 00:25:24,080 out of words to talk about this at this point in time. 424 00:25:26,360 --> 00:25:30,840 Yeah, Ether is dead. It's over. 425 00:25:33,080 --> 00:25:35,720 I'm sorry guys, I'm not talking about it. 426 00:25:36,280 --> 00:25:38,880 The amount of airtime that it gets on different shows for 427 00:25:38,880 --> 00:25:44,640 this, it's, it's just painful. Like I, I, I talk about this 428 00:25:44,640 --> 00:25:51,640 over all the time, but like, it's, yeah, it's just, it's just 429 00:25:51,640 --> 00:25:55,040 not been a good hold and, and it's under, it's even 430 00:25:55,040 --> 00:25:57,600 underperforming today, right? Underperforming today. 431 00:25:58,880 --> 00:26:02,480 So sad, very sad. It's a tough one. 432 00:26:02,720 --> 00:26:07,040 It's a tough for my beloved punks Bitcoin ratio, which got 433 00:26:07,040 --> 00:26:12,080 whacked in this E down move. The punk floor held even, but 434 00:26:12,080 --> 00:26:15,080 with ETH getting crushed punks back down to 63 K. 435 00:26:16,080 --> 00:26:20,760 So now 20% below Bitcoin more actually right now. 436 00:26:22,680 --> 00:26:27,040 So not not exactly what we what we wanted to see here. 437 00:26:27,880 --> 00:26:30,040 I'll go around the horn. I think that that's a really 438 00:26:30,040 --> 00:26:31,960 good summer on the market, man. Thank you for that. 439 00:26:32,520 --> 00:26:34,800 It was a quiet weekend. I think a couple headlines that 440 00:26:34,800 --> 00:26:37,000 jumped out. One, Tether basically said at 441 00:26:37,000 --> 00:26:40,720 the US is not going to embrace USDT, they're going to launch 442 00:26:41,000 --> 00:26:45,440 AUS friendly stable coin. So I think that's perhaps 443 00:26:46,120 --> 00:26:48,520 various for Circle. And then Circle also is 444 00:26:48,520 --> 00:26:52,080 reportedly, I think this is more tied to some rumors. 445 00:26:52,080 --> 00:26:53,880 It hasn't been like they they haven't come out and said this, 446 00:26:53,880 --> 00:26:57,000 but now they're thinking about delaying their IPO because of 447 00:26:57,000 --> 00:27:00,360 all the effectively because of the FUD from those Coinbase fees 448 00:27:01,000 --> 00:27:04,000 and perhaps trying to get better deals lined up to make some of 449 00:27:04,000 --> 00:27:11,480 those financials look better. So, yeah, I think, I think it's 450 00:27:11,480 --> 00:27:14,360 a tough time, right. You have a period where they're 451 00:27:14,360 --> 00:27:17,840 trying to crash the 10 year, which is basically their 452 00:27:17,840 --> 00:27:23,240 business model. And then and you have crypto in 453 00:27:23,240 --> 00:27:27,120 general not feeling so great. They probably just don't think 454 00:27:27,120 --> 00:27:28,560 they can get that valuation right now. 455 00:27:28,880 --> 00:27:31,520 I don't think if you're if you're own circle, I don't, I 456 00:27:31,520 --> 00:27:34,200 just don't really know why you're trying so desperately to 457 00:27:34,680 --> 00:27:39,200 IPO like you've got this great business, but maybe maybe they 458 00:27:39,200 --> 00:27:40,640 desperately need to get out of the stock. 459 00:27:40,640 --> 00:27:45,800 I don't know. Kind of feels like, you know, do 460 00:27:45,800 --> 00:27:49,520 you see Tether worrying about IPO ING like 4 billion a year 461 00:27:49,520 --> 00:27:50,960 like. Exactly how you. 462 00:27:52,080 --> 00:27:54,680 Yeah, exactly. Do you really like desperately 463 00:27:54,680 --> 00:27:56,040 need to sell equity in your company? 464 00:27:56,040 --> 00:27:59,920 Just just fucking clip the coupon every single year. 465 00:28:01,240 --> 00:28:04,040 Dream I I don't feel sorry for Circle executives that missed 466 00:28:04,040 --> 00:28:07,480 their IPO window. Like if you needed that, then 467 00:28:07,880 --> 00:28:09,240 you need to run your business differently. 468 00:28:11,160 --> 00:28:16,360 I think that's a a flooding goal is it's the question of why do 469 00:28:16,360 --> 00:28:18,800 they do this? Is it because they see their 470 00:28:18,800 --> 00:28:22,440 business model falling apart as Trump administration tries to 471 00:28:22,440 --> 00:28:28,880 bring the, the tenure down, which we'll see if if that's 472 00:28:28,880 --> 00:28:31,600 actually going to pan out for them. 473 00:28:33,240 --> 00:28:36,040 I guess any, any surprises this morning before we wrap things 474 00:28:36,040 --> 00:28:38,720 up? You know, I, I, it seemed like 475 00:28:40,000 --> 00:28:41,520 everything was crashing. We're rebounding. 476 00:28:41,520 --> 00:28:44,280 It felt like interest rate spiking caught people off guard 477 00:28:44,280 --> 00:28:46,200 this morning. So I guess anything that 478 00:28:46,360 --> 00:28:50,680 surprised you or or any final thoughts as we go into the? 479 00:28:50,680 --> 00:28:53,760 Just interest rates. Just pay attention to Bitcoin. 480 00:28:54,000 --> 00:28:59,560 I think that's the main thing like bit Bitcoin to me, I think 481 00:28:59,560 --> 00:29:02,880 it's going to, it's probably going to have another retest 482 00:29:02,880 --> 00:29:11,440 above 80 K here. I, I'm, I'm still not of the 483 00:29:11,440 --> 00:29:18,760 view that something like Solana is necessarily going to be like 484 00:29:18,760 --> 00:29:21,560 a screaming buy for the next couple of weeks. 485 00:29:21,640 --> 00:29:26,360 Like I still think that like Bitcoin, Bitcoin is up again 486 00:29:26,360 --> 00:29:28,560 today. So it's approaching 64%. 487 00:29:31,080 --> 00:29:34,200 I just, I just feel like that's an up only chart, whatever 488 00:29:34,320 --> 00:29:36,640 happens for the next for the next few weeks. 489 00:29:37,520 --> 00:29:40,720 Yeah, I think that that's fair. I did hear choose Rich Nick on 490 00:29:40,720 --> 00:29:42,600 the Nifty show this morning talking about how he feels like 491 00:29:42,600 --> 00:29:45,840 Solana is actually an interesting buy with Bitcoin 492 00:29:45,840 --> 00:29:48,680 here just because he he felt like the downside is somewhat 493 00:29:48,680 --> 00:29:50,840 capped perhaps in like the 20% range. 494 00:29:51,360 --> 00:29:56,320 It's like if you think 80 is a strong floor for Solana and you 495 00:29:56,320 --> 00:30:02,040 can buy it at 100, decent risk reward there just because your 496 00:30:02,040 --> 00:30:04,720 your chance to to have it scout back to 140. 497 00:30:04,720 --> 00:30:08,920 I mean Seoul was 140 a week and a half ago, right? 498 00:30:08,920 --> 00:30:12,360 So you have a chance to catch a bigger move than Bitcoin. 499 00:30:12,360 --> 00:30:17,840 But it's at the same time I'm not personally racing to buy 500 00:30:17,840 --> 00:30:26,360 Solana. Yeah, I, I, I think it's more 501 00:30:26,360 --> 00:30:28,840 like a, this isn't just a Solana thing. 502 00:30:28,840 --> 00:30:31,680 This is like an L1 thing. It's like it feels as though 503 00:30:31,680 --> 00:30:36,000 people are leaving crypto right now and those stories can take a 504 00:30:36,000 --> 00:30:39,960 long time to come back, right. So, and it's not that I don't 505 00:30:39,960 --> 00:30:41,480 think Solana will dominate when they do. 506 00:30:41,480 --> 00:30:44,960 It's just more like it's the same reason why ETH is like not 507 00:30:44,960 --> 00:30:46,800 trading that well. It's there's so much block 508 00:30:46,800 --> 00:30:48,800 space, right. So you've got to hope that like 509 00:30:49,280 --> 00:30:51,960 your, your chain stays relevant in a quiet period. 510 00:30:51,960 --> 00:30:59,040 And Solana, it feels as though a lot of the activity on there was 511 00:30:59,040 --> 00:31:01,960 was more left curve as well. So I don't know. 512 00:31:02,320 --> 00:31:04,920 I really don't know. I think that's fair and also I 513 00:31:04,920 --> 00:31:10,840 think watching ETH not have a successful comeback cycle here, 514 00:31:10,840 --> 00:31:15,680 I think is also perhaps hurt upside of Solana, rightfully or 515 00:31:15,680 --> 00:31:18,920 wrongfully is people saying like this whole next man up, like 516 00:31:18,920 --> 00:31:22,640 there's always going to be a next hot chain and maybe you 517 00:31:22,640 --> 00:31:25,400 aren't meant to hold these beyond their initial, you know, 518 00:31:25,400 --> 00:31:30,920 big cycles. So that that's a real narrative 519 00:31:30,920 --> 00:31:32,760 out there. So I think that's one that, you 520 00:31:32,760 --> 00:31:35,360 know, we'll continue to watch, but we'll see. 521 00:31:35,360 --> 00:31:37,640 Is it going to be turn around Monday, folks? 522 00:31:38,800 --> 00:31:41,800 I don't know, but we're starting to see signs of it. 523 00:31:42,560 --> 00:31:45,960 So it looks like the. White House just has the White 524 00:31:45,960 --> 00:31:48,360 House just denied that they are delaying tariffs. 525 00:31:49,400 --> 00:31:52,280 There was a good time that they might be delaying tariffs, but 526 00:31:52,280 --> 00:31:54,400 they just denied it. So we're back down again. 527 00:31:54,880 --> 00:31:56,160 Yeah, we'll turn around the other way. 528 00:31:57,520 --> 00:32:00,040 So expect more piercing volatility. 529 00:32:00,120 --> 00:32:02,360 I think it is the is the take away. 530 00:32:02,360 --> 00:32:05,240 But folks quicker show here on on Monday. 531 00:32:05,240 --> 00:32:09,080 We will be back with a longer show tomorrow. 532 00:32:09,080 --> 00:32:10,320 That is it. That's going to be our show. 533 00:32:10,320 --> 00:32:12,280 I want to thank our listeners, want to thank our partners as 534 00:32:12,280 --> 00:32:14,960 always want to thank Amanda. We'll be back tomorrow, 10 AM, 535 00:32:15,040 --> 00:32:17,440 10 AM Eastern. Until then, go make it a great 536 00:32:17,440 --> 00:32:17,600 day.