Bitcoin’s $82K Breakout Just Got REKT by the Fed! | Simply Originals

0:00Breaking! Bitcoin just gave its highest daily clothes in nearly four months. Bitcoin surged nearly 20,000 cut bucks in the last 20 days. The move added 390 billion to Bitcoin's market cap and liquidated, 11.4 billion worth of leverage positions. This was the largest shorts liquidation cascade in the entire history of crypto. And would you look at that? Strategies Bitcoin portfolio is now up about 15 billion. In the last 15 days, a thousand a day for Bitcoin is correlating to about a billion a day for Giga Chad. Maybe he saw this chart in those Bitcoin's pathway to 800K could come sooner than many expect. Bitcoin and gold were ripping. Then just while I was writing this show, boom we crashed below 80K and the bad flip flopped. So what the f*** is happening? Well we definitely have some pretty strong reasons why investors are running to the exits.

1:03The flip to hold just flopped to hike. And inflation is running rampant. Mohammed says the global bond sell off likely not over yet. Well you know what to do, Mohammed. And as long as inflation expectations are stable, you can navigate. Better buy some Bitcoin, Mohammed. Something else crazy is happening. The global currency war is accelerating. While some are dumping bonds like a bad habit, it appears Dickie Dollar Milk shake is in effect for others and so is the debasement trade despite the volatility. Massive show today, stay until the finish and you'll understand why what Dave Smith just did to the Fiat establishment. Bitcoin is about to do the same. And it could end with the most insane bull run of our lives and 800K Bitcoin. We will shake the bears off like please. We get a lot to get to.

2:04It's a long-term problem is the issue that treasury faces. They are currently printing two trillion extra dollars and the Congressional Budget Office says that is rising in finitums to 3.6 trillion in 10 years. And so if the government is printing that much money, it really, it's just kind of paper and over the cracks to buy a couple billion here. There really doesn't do anything and I think this has really ignited a rally and things like Bitcoin and other hard assets like gold because it really highlights there isn't a real way out for these countries like the United States. Think about it. The US largest net debtor in the world. How can it pump, quote, make markets in bonds when it's the one that has to be force selling of two trillion a year? And I think that's what's driving people into crypto. There's 21 million Bitcoin. You can't print more of them. And so all of this really is highlighting a problem that's hard to see where it goes.

3:09And inflation is already 3.4% and that debases 90% of your purchasing power over your life. So if you have the choice to own something hard like Bitcoin or a US piece of paper money, Bitcoin has historically gone up about 70% a year and paper money is debasing at 3.4% a year. And also it does highlight the fact that the economy is doing as well as it possibly could. Unemployment rates 4.1 which is a full employment. The wage inflation is 3.4%. Everything is really, really strong. You have to wonder what's going to happen when something bad occurs in the economy. The deficit will spiral out of control. And we're only a year away from the US deficit going above where it was at the end of World War 2. And think about that. With all that money, we defeated fascism.

4:09Like what's the government printing the money for now? Bitcoin reached 82k after Fed Governor Waller said he may support holding rates at the next FOMC meeting. 415 million in shorts got annihilated. It was on like Donkey Kong. But then the Fed flip? Blopped this morning. Flapped like LeBron when he won that Oscar. Because at 8.30am the jobs report drops and boom 162,000 new jobs. Listen to how insane this is. Economists expected 55,000. We got 162,000. That's nearly 3x expectations. Last month was 21,000. So that's almost 8x last month. Private payrolls 127,000 versus 45,000. Expected unemployment held at 4.1%. Even the U6 improved to 7.7 from 7.9. Wages hit 0.3% for the month right on target. 3.1% year over year, a touch hotter than the 3% they wanted.

5:12Good news, right? It's fine. Everything's great. Except in this clown economy, good news is bad news. Because a strong jobs report removes the Fed's biggest excuse not to hike. Going into today, September Hike gods were sitting around 50% while they were literally said, Yeah, I lean hold, but strong data could push me to hike instead. Well, here's your strong data. And now inflation prints hit September 10th and 11th right before the Fed meeting on the 16th. If that comes in hot too, a September Hike stops being a possibility and starts looking like the base case. Allegedly. And look, I'll be honest with you. It's not just the Fed. Same morning, Bitcoin crashes back below 80K. You get the trifecta. World's biggest sovereign wealth fund talking about cutting US Treasury holdings. Blackstone restricting withdrawals from its flagship private credit fund for the second straight quarter.

6:14They only let investors pull half of the 10% they asked for. And Muhammad El-Aryan on CNBC saying the global bond selloff is likely not over yet. Translation. Well, the investors are racing for the exits from paper promises. So what the hell is happening? The system appears broken. Stocks fall after we add 162,000 jobs because Wall Street needs a weak labor market to get their paws. They want your cousin to lose his job so worse will pivot. That's not a free market. That's how a centrally planned printed fiat Ponzi operates. Bitcoin didn't pump 20K in 20 days for nothing. That was the signal. And Bitcoin is going to shake these bears off like fleas. And if you've been looking at this, orange man is not happy. He appointed him. I'm just waiting for the new nickname. It's like he got to come soon, right? Hey, dirty Kevin. Dirty Kevin, and it's been at all these little fancy build-a-berg meetings.

7:17He needs a wash. Now back to it because the jobs number, that's just the appetizer. We're in a full-blown currency war and China just proved it. What is China doing right now? Dumping treasuries, stacking gold, trying to de-dollarize, trying to build their own little lifeboat. And it still isn't working. You want wobbles? Europe wobbles. Again gets Godzilla margin called. And where does the money go? Right back into dollars? Slurp! Dickey dollar! And it's not like dollar strength. That's everything else just failing faster. It's musical chairs with a fiat toilet paper. And Dickey dollar brought his own chair. This is the 1971 Ponzi doing what Ponzi's do. Eat everything until there's only one exit left. And that exit ain't gold. You can't carry. It's Bitcoin. Now, before we reveal when Bitcoin could be arriving at 800K and what Bitcoin is about to do to the fiat system, let's take a moment to recognize our sponsors powering this show

8:20over at the Bitcoin way. Oh, and look at that. That is terrible. Look at our likes! I have pumped those numbers out. Those are rookie numbers in this racket. A lot of people who are serious about Bitcoin skip the most important part. Not in G.U. holding your own keys. Being your own bank. If the last few weeks taught you anything, it's that you need to be prepared. Multicig running your own node, verifying your own chain instead of trusting someone else's Bitcoin way walks you through every step until you've actually got it. Not just installed it. They also cover privacy phones and plan B residency if you're thinking bigger picture. Schedule a free consultation, scan the QR or hit the link below. Do it today. I've always been a skeptical guy on the Bitcoin back loans. Too many of these platforms turn into rug pulls wearing yield costumes. Letton isn't that. Eight years. Ten billion in loans. Zero customer Bitcoin lost. Zero re-hypothicated. They don't lend out your collateral period. Auto top up protection so you're never getting liquidated.

9:22Lowest rates in the market. No fine print. Keep your stack. Get the cash repay whenever. Zero penalties. I personally have two friends who have used the product to put down payments on their first homes. The smartest minds don't sell. Their assets. They borrow against them. Head over to learn. Lennon.io. Slash simply today. It's like, dude, you're like a cartoon character of the archetype of evil. Like, like, Satan spawns who mastered legal easy or something like that. The guy who gets OJ and Epstein off. You're going to sit here and morally judge me. Like, I'm sorry, man. Like, I was trying to be reasonable through this thing and go, you know what, you're a guy we're having a sparring match. I appreciate it your age. But screw you, man, you're sitting here smear and me. I'm arguing against a war, dude. There's been seven catastrophic wars in a row. And I'm using the little bit of platform, the little bit of influence I am to say that people of your generation need to let go of the goddamn wheel. You've given us enough disasters. Forty trillion and debt millions killed.

10:22Enough of this. You gotta go watch that full debate. It was incredible. I don't know of a better example of a decrepit, like the crypt keeper, Fion system establishment. Then, uh, that guy, the Dave just poned, Bill to statue with his name. King Dave has arrived. No, really, he does this. When he's debating, he's at top of his game. Kind of like when Bitcoin's being attacked, it just goes rage monster. And let me tell you what's on the table. For the rage monster, 800K in two years, we just went up 20K in 20 days. What's a 10X in two years? Check it out. Poor coppillates. Power law. Trend at Q90 would put Bitcoin at 800K two years from today. See 500K is humble. And these guys make some good points here. Bitcoin has only been higher than Q90, 10% of its entire existence.

11:23So unlikely, but there's no telling what happens when Bitcoin starts ripping faces off. Speaking of, let's go ahead and remind Mohammed that inflation is above his arbitrary 3%. Roll it. There's a lot of people that are nodding with you because we can deflate our way out of some of the step. But the difference between 2% and 3% compounded for the dollar is devastating. And I don't know for you to just blow it off as a little weird. I mean, there's a reason they want 2%. Anyone can move goalposts. I mean, if you compound 3%, that's 50% higher than 2%. You know what 2% comes from? I'm not, I'm not, I'm not, no, but 2% 3%, it would be, we'll make all of us feel awful in 10 years. It comes from the Bank of New Zealand in the early 90s. It seems like a good number to me. It's a number, but it's an arbitrary number. What you've got to, what you've got to take. Well, 5 is an arbitrary number. We, I mean, if you want to deflate 36 trillion, let's go to 10 then. I don't want to pull the rug from under US economic exceptionalism.

12:25I think we are outpacing the risk of the world. We're starting to a 3%. I think we are investing in the economies of tomorrow. If we're in the growth drivers of tomorrow, if we're in government, no, the private sector, everything else. If you, if you push this economy in government sector, private sector is now what causes the inflation. Joe, if you push this economy into recession, you will not just lose carbon standard of living. You will lose future standard of living. We are in a very good position. 3% will lose as the future standard of living. That's the problem. 2.5 to 3 is, is, is what I said. You want to immediately to 3. Well, see if I say 3 at the high here. And as long as inflation. As long as inflation expectations are stable, you can navigate. Better buy some Bitcoin, Rahul. Okay, real talk for a second. Not your keys, not your coins. I've said it. You've said it. We've all said it a thousand times. But nobody really talks about the part after that. Once you get the keys, how do you not mess it up? Because I've seen people lose a seed phrase or get it replicated.

13:26Forget where they hit it. Spill copy on it. Hull of it. One dumb mistake in your whole stacks gone. That's the actual reason I like Bitcoin. Instead of one seed phrase holding everything together, it splits things three ways. By default, your phone, the Bitcoin hardware, and a key held by block. You only need two of three to move anything. So if you lose one, you're not locked out. And block can't touch your Bitcoin on their own either. Nobody's holding the keys to the kingdom, but you. And here's the part I think is kind of underrated. The hardware itself shows you what you're signing. So even if your phone or laptop somehow got compromised, you're not blindly trusting some address. You're confirming the real one on hardware no one else can reach. No seed phrase to babysit. Real recovery if you lose a device. A real plan for what happens to your stack down the road. That's not theory. That's just that's how self-custody should have worked from the start. Download Bitcoin today. Use my code, send it for 10% off. And this episode has been brought to you.

14:28By Bitkey. Hey, hope you guys enjoyed this one. Let us know what you think down below. Don't forget to like, subscribe, and give us a pamph by sharing the sound money gospel with some poor unfortunate soul trapped in fiat purgatory. Hope you guys have a great weekend. Dominate those fantasy drafts. And I'll catch you next time. Love you guys. Pfft. If you prefer to get out of this ship. F*** you.