Is Warren Buffett still sitting on his cash?

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welcome digital asset news the top
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stories and cryptocurrency digital
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assets and break them down into
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bite-sized pieces today we’ve got some
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stories that I can make you feel bad
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they’re gonna make you wonder some
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things and at the very end it’s gonna
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make you actually feel good so stick
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around for all these at the very end
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we’re gonna go over scam of the day
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which is super important but let’s jump
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into what’s going on today Saturday
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April 25th so first up let’s take a look
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at the markets and looks like we’re
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doing pretty much stagnant looking
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pretty flat across the board Bitcoin
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holding strong at 7500 let’s see if they
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can break that 8 K resistance barrier
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which I’m hoping it can but etherium
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almost about to pop above 200 and that
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would be fantastic news even XR pees up
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so that’s always awesome and
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everything’s pretty much flat except for
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a big winner – all of you dizzy by fans
00:51
out there or as they call them the digi
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B’s so there’s the XRP army chain-like
00:56
Marines and the digi beats which I
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annoyed to actually exist it and tell
00:59
someone told me in the comment section
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and I got to tell you guys are on a roll
01:02
I mean right now you are coming up at
01:04
24% I think over time it’s like up three
01:07
hundred two hundred percent something
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like that so if anybody can tell me
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exactly why did you bite is pumping I
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would love to know let me know in the
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comment section below because I know
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it’s a May everybody tells me it’s a
01:19
great project of course that’s what a
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lot of people tell me about all their
01:22
projects how great it is and whatever
01:23
else but but you by it seems very stable
01:26
it’s been battle tested and it’s C it’s
01:29
TPS as transactions per second are like
01:32
through the roof I think it’s over
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20,000 TPS that’s pretty amazing so let
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me know in the comments section below
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exactly why that is but let’s break into
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today’s top story which comes from this
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is from CNBC and it comes to our friend
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here
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this is Chamath I’m gonna butcher his
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last name le hepatitis-a it said that
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right but he is a early Bitcoin investor
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he’s a Bitcoin maximalist he was also a
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big Facebook exec to get Facebook that
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kind of pretty much rolling with Mark
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Zuckerberg and that whole crew and now
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he’s a big investor and I’ve covered him
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but a week ago or so when he talked
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about the different traditional stock
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markets but what he’s gonna say today is
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to lay the groundwork for what we’re
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gonna go into our next story as far as
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inflated markets and what’s really going
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on behind the scenes and why I believe
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we’re in a very precarious situation
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coming over the next three to six months
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so let’s take a listen Jeff you keep
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saying propping up zombie companies are
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you are you arguing to let Airlines for
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example fail yes why I mean how does
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that make sense in the broader scheme of
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the economy it’s not when you look at
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what it means this is why I’m saying
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like this is the lie that’s been
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purported by Wall Street when a company
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fails it does not fire their employees
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it goes through a package bankruptcy
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right if anything what happens is the
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people who have the pensions inside
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those companies the employees of these
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companies end up owning more of the
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company the people that get wiped out
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for the speculators that own the
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unsecured tranches of debt for the folks
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that own the equity and by the way those
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are the rules of the game that’s right
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because these are the people that
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purport to be the most sophisticated
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investors in the world they deserve to
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get wiped out but the employees don’t
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get wiped out why does anybody deserves
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using your word to get wiped out from a
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crisis created like this so that was a
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little recap and he said that you know
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we could go over so but that’s on the
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when I first heard that and then we had
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talked about on this channel I thought
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that’s pretty pretty disastrous to talk
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about and but I mean it’s true it’s all
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true what he said but when I heard that
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it may be very angry and then I talked
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to or I put it all out to all of you and
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you guys got to watch it and your
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reaction was the same but the next part
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well I’m going to what I’m going to show
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you is gonna make you realize what is
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going on we’re gonna lift the curtain or
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take away the curtain so you can see
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what’s going on behind
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the scenes and how everything is propped
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up and it’s just smoke and mirrors and
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all the things that we’re seeing right
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now with the traditional markets
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bounding maybe even going sideways it’s
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not true it’s not reality so let’s take
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a listen real quick it’ll be about three
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to four minutes section and then we’ll
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go off into where we back this all up
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why I made the comments that I did and
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why it touched such a nerve there is an
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interesting facts thought that you
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should know which is that since 2009 the
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500 companies in the S&P 500 so these
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are the 500 best companies in the world
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they bought back seven trillion dollars
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of stock and or issue dividends okay now
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that turned out to be ninety more than
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ninety cents of every single dollar of
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profit that they made over the last 11
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plus years the federal government as
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well as the Fed between monetary and
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fiscal stimulus combined have
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essentially transferred around seven
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trillion dollars now back to those said
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companies as well as you know companies
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slightly smaller than them and I think
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why I was frustrated is that I just
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think that that kind of behavior makes
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no sense and instead of being punished
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it has been rewarded and if you ask me
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why here’s how I would explain it the
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job of a CEO especially of a public
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for-profit company is to be a fabulous
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allocator of resources and there are
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only two kinds of resources that a CEO
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controls that matter
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the first is human capital right the
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people that work inside of your company
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and the ideas that they have and the
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products that they make and the second
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is financial capital the money that you
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take to invest in great ideas to protect
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for the future to prepare for whether
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it’s a pandemic or a shock or a
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recession or a competitor and the best
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capital allocators become the best CEOs
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so if you take a company like Facebook
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or Google they’re a very capital asset
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like business so a lot of their skill is
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in picking great people so takes up he
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picks Sheryl Sandberg he picked me he
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put us in positions to build that
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business he’s a
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as human capital allocator on the other
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end of the spectrum Teague Buffett he
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has no human capital inside of Berkshire
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it’s all financial capital but he’s a
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fabulous capital allottee or you take
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Jeff Bezos the case in the middle where
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he has both of those two things in all
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cases great CEOs or great allocators of
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capital when you do things like buybacks
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and dividends what you are essentially
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saying is you’re throwing your hands up
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in the air and declaring to the world I
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do not know what to do with this money
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and instead of deciding to save that
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money to try to do M&A to try to invest
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in R&D to pay your employees more these
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people have given it back in an open
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market purchase now let’s look at that
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for a second why is that a stupid idea
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well it’s a stupid idea for two reasons
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the first is that it disproportionately
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only benefits the executives and the CEO
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and the board because those are the ones
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that disproportionately get most of the
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stock inside of a company and it
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disproportionately benefits those
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specific hedge funds that were agitating
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for that behavior and activity who take
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a short term position and allow
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themselves to participate in short-term
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profits and now what happens is the
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people that believe least in the company
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ie the people that sell the stock get
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rewarded and then who’s left holding the
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bag the people that believe in the
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business let’s take a specific example
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Scott and you can see how bad this is
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IBM over the last you know decade has
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spent a hundred and forty billion
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dollars on buybacks this is a company
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with a hundred billion dollar market cap
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the last CEO found a way to oversee 24
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consecutive orders of revenue decline
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and four that was still able to
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compensate herself a hundred million
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dollars of stock base Cobb
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now you look at all of this kind of
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behavior and you can say how is this
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supported why are all these companies
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trying to figure out how to be more
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resilient and it turns out that the
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incentives were so skewed away from
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being resilient it was only focused on
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short-term profiteering for the sake of
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the managerial class and the hedge funds
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around that’s of everybody else so two
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things
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first of all what he talked about and it
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totally makes sense right I mean and we
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can see that with the markets we can see
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what’s going on we can see what the
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buybacks and now with this stimulus
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package that has come about first it was
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2.2 trillion then a couple more trillion
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now we’re looking at 500 billion and who
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knows where it’s gonna be but with all
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those different programs there was a
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stipulation that we know buybacks that
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would not happen in the background that
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was not supposed to be the primary
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driver but I think we both know that in
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some way shape or form at some point
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these corporations are going to find a
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way to do it that’s why they’re
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corporations and s corpse and C corpse
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and they have lawyers and they have
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everything else so it’s going to happen
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regardless but you have to take a look
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at the market itself is propped up on a
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deck of cards and I don’t know how long
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it’s gonna take to actually collapse but
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it at some point will collapse and it
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will be huge and it’s what it’s one of
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those things that we talked about
09:48
yesterday we’re gonna get into the
09:50
report in a second but it was a 120 page
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report from Raul Powell who was a macro
09:55
economists economist and he talks about
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how he sees things moving over the next
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three six three to six months to a year
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to 18 months two years and was not very
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pretty as for sure so two things though
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to know is that do you see the the
difference between large corporations in
the average Joe the average person is
supposed to sit around and they’re
supposed to save at least a six-month
nest egg in case some type of
catastrophe happens whether that whether
that be medical would that be financial
or something else but yet we have these
big corporations that keep getting
bailed out and they can’t last over two
to three weeks and they’re already
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destroyed so I don’t see where the
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fairness is now let me know what you
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think in the comment section below I
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don’t find that to be a type of
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situation that anybody should have to be
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in or these corporations should have to
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be saying hey we can’t do that because
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we had somebody buybacks in the past so
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bail us out again and bail us out again
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and bail us out again the second thing
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is Warren Buffett when he made a mention
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there of him now I know that the stock
11:00
market has gone certain ways but my big
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thing is to see what is smart money
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doing what is what are the people doing
11:06
the Honda seen is not what there
11:07
there that’s going on but what are they
actually doing so Warren Buffett whether
you believe is one of the greatest
investors or if you think he’s just some
old fool that maybe has lost his edge I
still think is a great investor he is
still sitting on the sidelines with
billions and billions of dollars just
waiting to get back into the market this
is an article back in March Warren
Buffett has poised a bull to buy when
there’s blood in the streets Oracle
Obama has 120 billion of spirit cash to
buy stocks during this downturn and you
see what happened in March a little bit
of a downturn there don’t you can went
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up a little bit now we’re kind of
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trading sideways and it’s interesting to
11:45
see what could potentially happen and I
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think that if people think the bottom is
11:50
in only the bottom is in and it’s the
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same thing we talked about yesterday and
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saying they’re going to get in today so
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this was a report it was called the
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unfolding and it was just released April
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this year again us from Ronald Powell
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you can take you can check out that
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video that looks just like this and I’ll
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I’ll put it at the very end so we went
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over this in detail yesterday but
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there’s a couple points I want to make
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and when he just to really go over them
12:16
and he talks about here he says why does
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the first week of April metal matter
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well this is when Europe might possibly
12:23
see peak rates of COV ID however the
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next two weeks are gonna see the numbers
12:27
in Europe and the u.s. increase and of
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course that did happen it also states
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that those ultra focused financial
12:35
market participants notice in advance I
12:37
mean we do right he’s talked about
12:38
himself as a hedge fund manager and
12:40
macroeconomics economist but this Joe
12:43
public appear the pension fund manager
12:44
Roger the risk manager or Harry the
12:46
standard hedge fund manager do they know
12:49
they’re all trading headlines and are
12:51
the panic so for all these things that
12:53
are happening behind the scenes
12:55
maybe these financial experts
12:57
quote-unquote don’t know exactly what’s
13:01
going on and are not looking at the big
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picture like I think some of us do that
13:06
are watching this video right now so he
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says we’re trading the panic and it
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comes to early April and we’ll see what
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happens he said but it does there may be
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or will be a little bit of a correction
13:15
and he states so I think we have a week
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or two left of peak fear and that’s when
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he’s talking about
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March and then we can plan a larger
correction as everyone looks at hope as
a strategy
hope is a v-shape or hope it’s a u-shape
which have we actually seen in the
market encrypt the currency market as
well it’s pretty much been a parallel he
says we’ve seen some of the largest
global stimulus in all recorded history
both from the government and central
bank in the past that has always worked
and says this is the identical narrative
shift from 1929 to 1930 the six-month
bounced in the 1929 1930 was the Great
Depression and his exact would happen so
we had a huge bunch of economic growth
and everything has dropped off the cliff
and everybody was a little bit scared
nice and then they said oh no it’s gonna
be ok
there’s a small correction for about
three to six months and then look what
happened all the way down this happened
1929 this happened in 2000 this happened
in 2008-2009 accom 2008 p in the housing
market bubble in 2020 being this
pandemic crisis and it’s playing out
again but the big thing was that these
Corrections they can be anywhere from
two months three months or maybe six
months this is right here this time
maybe the riot last six months maybe
it’s three maybe we don’t eat the last
cell relay who knows but he does say
again that it all falls apart what’s
unfolding his elements of all the macro
events of my lifetime plus 1929 I’ll
rolled into one
14:40
he says again equity bubble wave
14:42
retirees of all time he talks about
14:44
pensions getting just decimated lighters
14:46
corporate credit bubble which we just
14:48
talked about student loan bubble auto
14:50
loan bubble indexation etf falling
14:52
foreign borrowing bubbles and monetary
14:53
policy and an EU banking crisis so it’s
14:56
all kind of converging into one event so
14:59
when we see the market go up and then we
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see things move about the question
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really is is what’s going on behind the
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scenes and that to me is where all the
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truth lies let me watch the thing in the
15:14
comments section below let’s move on to
15:16
the next story so next up Bitcoin rally
15:18
stock market stays flat yeah here’s why
15:21
Scott Melchor says many cryptid
15:22
believers are making a mistake so first
15:24
of all stock market stays flat let’s
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take a look at yes in P 504 yesterday
15:30
which was Friday Saturday looked like it
15:32
did pretty well but if you take a look
15:34
day yeah pretty much flat and a month
15:37
yeah I would love recovery but pretty
15:39
much flat sure enough okay and then who
15:41
is Scott Melkor well he goes by the
15:46
handle of the wolf of wallstreet all
15:49
streets got about eighty six thousand
15:51
followers and a pretty big guy in the
15:53
financial market so what he says no
15:55
slouch let’s see what he’s got to say so
15:57
moving on I’m not gonna read the whole
15:59
thing because it’s kind of boring but
16:01
what he says here these these three
16:02
paragraphs is the truth
16:03
he says amid the extremely shaky and
16:05
volatile global economy he has a message
16:07
for Bitcoin believers he says anyone
16:09
trying to day trade Bitcoin should
16:12
probably give it a rest if they truly
16:13
believe it’s headed for exponential
16:15
growth in the long run and here’s where
16:16
it comes down to it he says if you truly
16:18
believe that bitcoin is going 200k then
16:21
you should just slowly buy it now if you
16:23
don’t believe it’s going okay if you
16:24
don’t think it’s going to zero or just
16:25
20k or whatever else trade all you want
16:27
he said regardless of the price check
16:30
your balances quarterly there’s no need
16:31
no need to risk trading away your stack
16:34
before it gets there if you insist on
16:35
trading do it with fifteen percent of
16:37
your portfolio or less it’s important to
16:41
remember this simple fact most people
16:43
who have made money and markets have
16:45
never looked at a chart most never even
16:47
heard of technical analysis investing is
16:50
greater than trading it’s not even
16:51
closed even the most successful trader
16:53
should be an investor first and this is
16:56
what I’ve been preaching a long time on
16:58
this channel for as new as this channel
17:00
is really comes out of this dollar cost
17:03
average verse technical analysis he
17:05
looked at a lot of different YouTube
17:06
channels it’s a lot of TA and I can just
17:09
tell you I just don’t get into it I
17:11
don’t see it I’m very boring I’ll be
17:14
honest with you I’m just dollar-cost
17:15
average there’s you know so much per
17:18
week for my seven different projects
17:21
which so you all know this is exactly
17:24
what I’m invested in Bitcoin aetherium
17:26
XRP chain-linked Cardinal vos and now
17:29
Tasos those are my seven so if I talk
17:32
about these things a lot it’s because
17:33
I’m biased but I don’t trade these
17:35
things because I don’t see the point in
17:37
putting that much stress and effort
17:39
everything else into it I see this whole
17:42
market and if you read the the unfolding
17:45
or watch the video from yesterday
17:47
it’s gonna talk about a 10 to a hundred
17:49
trillion asset class which is going to
17:52
be cryptocurrencies so why would I mess
17:55
it all up by trading now if you want to
17:57
trade it’s all up to you but I got to
17:58
tell you my personal opinion all you
18:00
guys who were true guys and gals who are
18:02
trading and you were leveraging and
18:05
you’re getting wrecked or just hurting
18:06
them just it’s just hurting the whole
18:07
cryptocurrency market and that’s what I
18:10
said that’s what I believe and I don’t I
18:12
at least a live in Las Vegas and I can
18:14
tell you that I knew a lot of gamblers
18:16
friends were gamblers and they’d always
18:17
come to me and go hey man had a really
18:19
good week last week oh yeah how much
18:21
what would happen I I hit this this this
18:23
one pot five thousand boom got it oh
18:25
that’s great jack so how much you up for
18:28
the year I well I’m down like 20k but
18:30
last week man 5k that’s how I see a lot
18:34
of traders and if you’re a successful
18:36
trader or if you’ve gotten wrecked let
18:38
me know in the comment section but I
18:39
just don’t see the point I just don’t
18:41
get it maybe you like I said like this
18:43
wolf of Wall Street’s guy ten to fifteen
18:45
percent of play around but I got their
18:47
businesses to run so that’s just my
18:49
thing all right moving on last up fold
18:52
so I want to make mention of I did a big
18:55
thing about the fold app and I was
18:59
talking about a card in an app and all
19:01
together so real quick there is an app
19:03
for fold where it gives you for
19:05
everything every kind of like gift card
19:07
you buy you get Satoshi’s you know
19:08
everything’s a reward in fifteen
19:10
essentially and there is also an app or
19:13
there’s also a card that I want to talk
19:14
about and one big thing I need to make
19:17
mention I don’t get paid for this this
19:18
isn’t a paid promotion if it was I would
19:21
put it up put it on the on my my video
19:24
itself because I have to report these to
19:26
YouTube the only currency that I have
19:28
with you guys is trust so why would I
19:30
blow it on just a stupid card this is to
19:33
me it looks pretty awesome right you can
19:35
get a card everything you swipe with or
19:37
buy with whatever else you can get
19:38
Satoshi’s and if you think like me
19:41
that’s going to attend trillion to 100
19:43
trillion market cap yeah I said it you
19:46
would want to probably get this card and
19:48
I cannot wait to get this card honestly
19:50
so let’s see what it is so first off
19:52
there’s nice little video can check that
19:54
out but opt out of points and miles
19:58
surveillance of debt points I don’t
20:01
we I mean I get into if it gives me cash
20:03
back sure but I mean if I can get
20:05
something like I can get Bitcoin yeah
20:06
it’s gonna you know actually roll over
20:08
to actually do a lot in five or ten
20:10
years why not then it says to opt in you
20:14
can actually chop privately which is
20:16
pretty cool the savings twofold sure
20:18
sure sure there’s one more thing about
20:20
this it has a single-use virtual card so
20:23
if you never heard about these these are
20:24
awesome
20:25
you can you know how when you sign up
20:26
for some type of you know free trial and
20:30
you’re like oh this is cool and that’s
20:31
like you know and after that’s like
20:33
$19.99 a month you forget to cancel it
20:35
and then before you know you’re like
20:37
shoot I just got I just got dinged or
20:39
you forget about for two or three months
20:40
well on this one you can use a
20:41
single-use virtual card on top of this
20:44
card and it will just go away so you can
20:46
pay for it once and then that’s it you
20:48
don’t worry about it which is pretty
20:49
awesome
20:49
so I like all this all this stuff so
20:52
just so you know it’s like so I can
20:55
correct myself there is an app which I
20:57
have and I use and I show in the video
20:58
which you can watch I’ll link at the
21:00
very end and you can actually get the
21:02
card and when you click on the join the
21:04
wait list what’s cool about that I can’t
21:08
do this because I already have the app
21:09
but if you haven’t gotten the app you
21:11
can get 30,000 Satoshi’s for free just
21:13
by signing up with your email Twitter or
21:15
Facebook and again this is not a
21:17
sponsored ad I just thought it was
21:19
pretty cool and I could bring it to you
21:21
now I get offers every single day for
21:26
promoting something and I’ve turned
21:27
everything down but I am close to saying
21:30
yes to one because it’s a reputable
21:31
company and I think you guys have
21:33
actually used it but I will tell you
21:35
exactly
21:35
this is prade promotion but this is not
21:38
just some date you can get into so I’ll
21:40
link this in the comment section below
21:42
and that’ll be it so look that’s it for
21:44
today
21:44
Saturday hopefully you can get out a
21:46
little bit by wearing maybe wearing your
21:48
mask as you walk around the deserted
21:50
streets like I am Legend and get off to
21:53
it or get into it alright that’s it so
21:57
thanks for watching if you got a couple
21:59
minutes stick with me we’ll do the scam
22:01
of the day and that would really help
22:02
out to really appreciate it so scam of
22:05
the day we started this if you’re Union
22:08
if you’re new to this we started this in
22:11
January we had a pretty good record
22:12
because we kept seeing people getting
22:14
screwed out of their money
22:15
and I hated that hated scammers I can’t
22:17
stand them to get to the scam of the day
22:19
all you have to do is in the description
22:21
of every one of my videos there’s gonna
22:23
be a link and it’s gonna say scam of the
22:26
day when you click on that it can take
22:27
you this handy-dandy spreadsheet and
22:29
we’re gonna go over the last five that
22:32
have been here forever
22:33
so we used to have really good luck
22:35
because a lot of people reported them we
22:37
still have people reporting them but
22:38
YouTube still doesn’t take it down and
22:40
just between us since no one’s watching
22:42
just a couple thousand people or so
22:44
10,000 20,000 I don’t know yeah Ripple’s
22:48
gonna sue YouTube so all these things
22:52
that we’re doing you know YouTube should
22:54
do this I like YouTube
22:56
I’ll just stay away I like you too I
22:58
like watch the videos like the whole
22:59
platform I love it it’s great it gives
23:02
us a voice and a lot of countries
23:04
countries don’t have that opportunity so
23:06
to YouTube thank you very much but I
23:09
will say this you need to do better you
23:10
need to do better you need to do better
23:13
because you’re leaving these scams up
23:15
there up here we’re reporting them we’re
23:18
doing your job for you so you need to
23:20
get in and get us halfway and if you
23:24
don’t you know other companies gonna sue
23:26
you like Ripple
23:27
just that’s how I see it anyhow my
23:30
soapbox so here’s how we do it you’re
23:31
gonna click on this link it’s gonna go
23:34
to one of our scams right and how we
23:36
know it’s a scam I mean that looks like
23:38
cz finance that looks like a sharply
23:40
dressed young man interviewing him no
23:42
problems there but so the first thing I
23:44
want to look at is hey there was a video
23:46
was talking about yesterday
23:48
macroeconomists reveals the most
23:50
exciting scary yeah sure so these are
23:53
where you can get some insight as to if
23:57
this is a scam a lot of people say it’s
23:58
a scam one mullet is really adamant
24:00
about that all right soft so so maybe
24:03
these people are all a bunch of haters I
24:04
don’t know but what we want to look at
24:07
is is this an asymmetrical giveaway and
24:09
if you see stuff like this where it says
24:11
hey if you sent us one Bitcoin we’re
24:13
gonna airdrop you five if you give us
24:15
five Bitcoin will give you 25
24:17
nobody’s doing that okay you’re not
24:19
special no one loves you that much so
24:21
what we have to understand is that this
24:23
is a scam when you report and get out of
24:24
here as fast possible
24:25
so now if you don’t believe me that’s
24:27
fine I’m just
24:28
guy on YouTube wait we can do is you
24:31
contact by Nance and say hey by Nance
24:34
are you guys giving away free Bitcoin
24:36
they’ll tell you now so go to buy Nance
24:38
go to their official website go to rip
24:40
all their official website to join base
24:42
their official website they’ll tell you
24:43
all the same thing as soon as you let
24:46
them know man look at that 1,400 views
24:49
already
24:50
that’s awful 14 people probably got
24:52
scammed or some people got scammed I
24:54
think half an hour probably from my
24:55
channel so let’s get rid of it how do we
24:59
do that we’re gonna downvote we’re gonna
25:00
click on these three dots right here
25:01
we’re gonna click report we’re gonna say
25:05
spanner misleading choose one scam and
25:08
fraud click Next and why is this a scam
25:12
it’s just a scam it’s a scam nobody is
25:17
giving away free Bitcoin use your head
25:24
and then report you can say whatever you
25:27
want to right usually I just say this is
25:28
a scam and that was it but whatever you
25:30
want to do is great so that’s it so I
25:32
got to do if you could do all those
25:34
fantastic new one hey thank you so much
25:37
I appreciate it and that’s it for
25:38
today’s video so thanks for sticking
25:40
with me and see ya on the next one