Five simple steps to get people to sell your branded products have you been trying to get people to sell your products on their website? Hey, it's a great idea. It's something I've done and I've got thousands of websites to sell my products on their site And in this video, I'm going to show you exactly how I did it so you can get results to and we're starting right now Hey, I'm JR Fisher and if you're new to the channel do me a favor go ahead and subscribe right now There's a subscribe button down there. Please click that button and next to it. There's a What you need to do is click that bell and then turn on all notifications that way you'll be notified every single time I do a new video and you'll be part of that VIP group now I've been selling online since 2009 and I've literally sold millions of dollars worth of physical and digital Products and on this channel. That's all I talk about how to start run and grow your online business So you can get great results too. Hey, I've got good news for you at the end of this video I've got a ninety seven dollar course, but you can get it absolutely free I'm going to put a link in the description. Check that out at the end of the video Hey getting other people to sell your products is awesome and it'll save you the time that it would take to get organic SEO by Posting and putting title tags and descriptions not that you shouldn't do that But think about it if you've got other people out there putting title tags and descriptions on their site about your product That could be nothing but good for you So getting your product sold on other people's sites is awesome when I originally started I started selling cell phone cases and that didn't go too well But what it did do for me is it taught me how to sell stuff online and I eventually moved into having my own product Which is survival cave food now if you search survival cave food right now you'll get millions and millions of hits And it's not because I did a lot It's because all of my distributors who sell my products did a lot They optimize the words survival cave food on their sites and on their sales pages And that gave me a lot of organic reach, but the question is how did I get them to do that?  Let's get going all right number one You want to go out and find the contact information of related sites to yours So this is how this works. I sold survival food So I went out now look for websites that sold survival products websites that sold camping items websites that sold Hiking stuff and I went to those websites and I look for their contact information If you go to the bottom of most pages on websites You'll find a little spot on there and it'll say contact if you click on that you're gonna find their email You may find their mailing address you may find a phone number and that is the first start You've got to find that contact information, but it's there You just got to make sure you search for it and you will find it the next thing I want you to do You have this contact information you know the sites that can sell your products What you want to do is write out all the benefits of your products We sell survival food. Okay, so we have a long shelf life. Our flavor is really good So we have kind of a gourmet flavor. It's low in sodium. It lasts for many many years So what I did is I wrote out all those things the benefits of my product because these benefits are things You need to convey to the people who are gonna buy your product But first you need to convey it to the website that's gonna be selling the product if they don't see the benefits If they don't hear the benefits, they just think you're just like everybody else So ours our products were really unique and I could list out all those different benefits before I contacted these other sites Number three not hard to do is email all these sites So what you want to do is let them know about your product let them know about your program All these sites needed to do was list our products on their websites and sell them They didn't even have to buy the product in advance because we already had that product in inventory So what they would do is they would actually sell them and once they sold them They would send the order to us. They would collect the full amount So if they sold a product for a hundred and fifty dollars and their cost was a hundred They would collect the full hundred and fifty dollars and then they would come to our site and put in the order We would actually ship the product out to their customer and only charge them the hundred dollars and they could pocket that 50 So that's a pretty good deal for them That's something also that you want to put in your email how simple the process is how they don't have to do any Work, you know if you're doing a drop ship type program Which I assume you are if you're trying to get your branded products when somebody else's website Number four and you know, this is a tough one and a lot of you don't want to do this one But I'm telling you you need to do it call the sites actually pick up the phone and say hey Who is it that handles putting products on your site? Who's the owner there if it doesn't list who the owner is and actually asked to speak to a building this one-on-one Relationship is invaluable and I can think of a lot of companies I called and it was hard And I would spend hours on hours and calling these companies trying to get them to buy my products and to list them on the site I gotta tell you the majority of them will say no they just do but you don't need that many of them to say yes to build Your business and that's what I did over and over again I called these companies and some of you guys I know you don't want to get on the phone You don't want to pick up the phone, but I'm telling you it's a real personal touch And the thing is nowadays outside of telephone solicitors on your cell phone most companies don't get called anymore It's it's a rare thing you know I know in our company the only phone calls We ever really get are for trucking to move some of our products around but we don't really hear from anybody else We don't hear from say restaurants that have specials or we don't hear from you know phone companies or any services at all Nobody ever calls us so if you're thinking they're getting inundated with these phone calls They're not the only phone calls are getting inundated with is on their cell phone, but their actual business line It's rare for somebody to call and when you are in the United States and you have your business in the United States It's really rare to hear an American calling you up So you know that's kind of startling too so you'll have better luck with this than what you think But you got to expect you know to make hundreds of phone calls to do this But in the long term it's really going to pay off because you know We've had people now selling my products for nine years at this point And that's pretty cool is because I made a phone call all these years ago number five Should go without saying but have a good product really have a good product I remember when I first started selling survival food I was selling somebody else's survival food and it really wasn't that good It was kind of on the salty side didn't want to have good flavor and ours has really good flavor So we have a great product so I would encourage you know Potential distributors of my product to eat the food. I would send them samples out I was gonna try this food taste it see what you think and you know, they would call me up and say was great I love this food. This is super. I really like it So have a good product whatever your product is make sure it's a product that they're gonna really enjoy themselves that they would use Themselves and then they'll actually market your product because they believe in it and number six have great pricing You know you need to go out the market and you need to see what stuff selling for now I'm not saying you need to be the lowest person because we certainly aren't the lowest person on the internet for our products However, you need to be competitive, you know if people are selling a product for $100 if you go out there and try to sell it 400 odds are you're not going to do real well And you have to be competitive with other brands out there too So if another brand is selling a product like yours, you got to be competitive And I know there's that temptation to be a little bit greedy in the beginning and say well, you know If I sell this product for this I want to make this well You can't always make what you want what you want to do is make it up with volume Sell a lot of your product and that way you can give good pricing to your actual Retailers or the sites that are selling your products Number seven have big commissions now It's it's the way we've got it set up But literally the commission that the retailer makes on my product is more than what I make and a lot of people don't do it That way they try to make more than what the retailer does But if you incentivize them in other words if I if I say well look This is my survival food and you're gonna make 30% on it and everybody else is paying them 10 or 15% On their survival food, which one do you think they're gonna sell? They're gonna sell mine even if I make a little bit less It only takes three more retailers to make up for all that profit So my suggestion to you is really pay a generous commission and make sure they make a lot of money on your product Number eight is great service. You cannot you cannot sell products without having great service This is the one thing that kills a lot of companies is poor service So you've got to do whatever you say you're gonna do for your retailers And if you're shipping out that product for them You got to make sure you ship it out fast and you got to make sure you convey to them You know the shipping numbers and they have all that information because their customer is gonna want to know that too And if you don't provide all that information to them on a timely basis You're gonna lose the business service is really really important when somebody else is selling your product because understand their Reputations on the line and they really can't control how fast you ship it or how well you take care of it Or how well you pack it so if you do a great job at that and they never have problems They'll continue to sell your product number nine is a big one and I see companies do it all the time Don't undercut your sellers and here's what I mean by that Our products are sold on a whole bunch of sites out there But if you come to my site and buy it, it's more expensive. Now. Why would I do that? Well, I would do that because if somebody goes to one of these other sites and they come to my site And it's cheaper all of these retailers are going to lose business now. I can't reach all these retailers I don't have their email lists and I don't have all their customer lists So if I'm stealing their customer after a while they're going to say well, what's the point in selling your product? You're undercutting us. You're selling it for less money I don't want to sell your product anymore and I would lose all of those retailers So every since we've opened up, you know, almost 10 years ago now We've always sold our product at a higher price than all of the retailers out there All the websites out there can sell it cheaper than I can and we stick to that, you know We don't we don't change that we don't have sales where we undercut them and go below them We just don't do that Number 10 in the beginning, you're not going to like this. You're not going to want to hear this Be prepared to work seven days a week. You just you got to you've got to be there And I don't mean you've got to work 12 hours a day seven days a week But what I mean is you've got to be available If you have a product that's on somebody else's website and they run into an issue on a sunday night They need somebody to talk to now if you don't want it to be you You can have somebody in place that's knowledgeable that could help them out and that's fine to do that But the point is you've got to be available, you know I check my emails every single day. I check them throughout the day and if there's an issue I generally will know about it within you know 30 minutes or so unless I'm at the gym And it may be an hour and a half But the bottom line is I also have other people who see those emails and they can jump on that and take care of it So be prepared, you know, when you're working for yourself and you're building a brand Don't think that you could do that five days a week 40 hours a week It's not going to happen You're just not going to be successful because there's too many entrepreneurs out there That are willing to work every single day to beat you So if you're only working five days a week and 40 hours a week They're going to beat you they're going to eat your lunch bottom line is so you can't do that You have to be able to put in the hours and be willing to put in the hours to be successful Okay, so there's my top 10 tips and I want to know in the comments below Have you tried to sell your products on other sites? Have you even thought of doing this? This is pretty cool, right? The reason I originally thought of it is because I built a website And nobody bought anything from me. So I thought well Maybe some of these other sites could sell my products for me and it worked out and that's what's really kept us alive All these years is all these other sites buying from me and selling to their customers So if you haven't tried this put in the comment selection why you haven't tried it If you got something out of here, you think it's pretty cool Put that in the comments selection and if you're already doing this I want to know how you did that put that in the comment selection below too now as I promised you Right gotta fulfill those promises. There's a 97 dollar course right in the description You can get absolutely free all you have to do is click the link But do me a favor click that subscribe button and don't forget Bring the bell click that little bell there and turn on all notifications. You gotta do that Give me a like on this video and I'll see you in the next video I do a new video also click on one of those videos there keep watching on my channel


Closings will and have happened.  How many people here, everybody included, came here with an open mind today? Okay, whether you did or you didn't, when you walk out that door, my goal is for you to have a different perspective on your business, right? And I want you to be able to see the path of a predictable business, okay?  And through that process, also sell more property this year and next year. Now, perspective, I said perspective. That's a big word. That's a very powerful word. And this is what you need to focus on just for a second, okay? Because the actions that you take on a daily basis are all based on your perception, your perspective of these specific situations concerning your business and your life and your career and the industry. The way that you view the industry, the way you view the business, shapes the way that you look at the business. And that creates a scenario that where you base your actions on those perceptions, which creates the results that you ultimately receive. So in my mind, if we want to change our results, then we have to change our perspective so that it creates different actions. Business is unlimited forever, right? The name of this session is Welcome to Your Real Estate Dreams where business is unlimited forever. So let me give you the thesis and that is this. And this is something that may be even to write down. Closings will and have happened.   Now, as you hear that, it starts to open up your perception just a little bit, it starts to give you a little more confidence in the business and the industry because a lot of people are scared about what? Market's crashing. Market crashing has nothing to do with your success or your production as a real estate agent. Closings continue to happen every single day. Closings are happening every single day so why are we worried about what the market's doing? Why do we factor that into the actions that we take? You shouldn't because it doesn't matter because closings continue to happen. Now go back to the worst day in history of your specific market and look and see how many closings have happened on the very worst day that you can find in the last 30 years. It's a lot of closings on the worst day. Take that number and multiply it by two because you got a buyer and a seller. You got two opportunities. So multiply that number times two and that's how many opportunities were happening that day. Another set was happening the next day and the next day and the next day. It's like these articles that try to scare agent by saying there's more listings than agents, okay? Back when they wrote that article things were selling in one day. So the 1.5 million listings and 1.2 million agents at the moment that they wrote that article, heck those listings were gone that day and what? There's another 1.5 the next day and another 1.5 the day after that. I want you guys to understand how abundant and incredibly unlimited this really is. So happening let's take the shutdown, the economic shutdown, which was the scariest moment I would think and economically in the last 100 years during that 45 day period from mid-April to May 1st during that 45 day period compared to the same 45 day period the year prior 80% of the same amount of closings, right? 80% and you may think well those were already under contract. What's even more interesting is this. 80% of the same amount of pending deals were happening. So during that 45 day period, 80% of the same amount of people as the 45 day period the year prior were making offers, negotiating deals, ratifying contracts. Buyers had their masks on, they were docusigning, ratifying, negotiating and getting deals done. If marketing conditions are bad enough, what happens? The prices adjust to the level where people are it's attractive enough from buyers are still willing to buy. What does that tell us? What's the punchline? Buyers are still buying. They're still willing to buy. So what happens? Prices adjust in our favor. The market is like on our side as agents. It's moving wherever we need it to move to keep sales going. Isn't that amazing? Now I want you to write something out. I want you to think of something.  I want you to think about what the biggest fear, okay? Or the biggest excuse that you have right now that's holding you back. Just take a minute or two and think and even if you don't have one dig. Guys, if one entity could do all the business I would have already figured it out and we wouldn't even be here right now. I'd be closing all the deals. Nobody can do it. You got billion, billion, billion dollar companies trying to figure it out. They can't figure it out. It's not gonna happen. It's a one-on-one business. It's a customer service business. It's a representation business. So when I start to realize business is unlimited closings happen every day. It brings me to one more key point which made me say, okay, let's go. That was that competition doesn't exist. If you lose a listing, great. All that time you would have spent on that listing to get it signed and do the lot box and set up showings and do all the things and negotiate, do the closing. How many hours are we talking here?  You lose a deal, multiply it into five deals by not sulking about the loss deal and using that future time to actually be productive. You can't do anything about the loss deal. It's done. Go get more. It's unlimited, right? Five years ago, actually I wrote two books. Zero to Diamond and List to Last. Through that, those books took off, started speaking, I started writing, I started coaching and I became the world's first completely free real estate coach and I'm on a mission with that avenue of what I'm doing in my life to help you guys. And the overall mission statement is to reduce the failure rate in the real estate industry one agent at a time. What I wanna share with you today, because I talked about perspective and I talked about building a predictable business. I wanna share with you guys my three laws of building a predictable business. The first law, visualization. You gotta see it before it happens.  Pessimistic people have a negative outlook on what the future holds and what happens. That exact reality happens. Whatever you think about is what's gonna happen. You create your own fears. You create what you fear. If you fear it, that's what's gonna happen. If you have a call session, you think, oh, everybody's gonna cuss me out. I'm not gonna have a good call session. Nothing's gonna happen good. What happens? That's what happens. Why? Because people, they feel it. When you call, that's what you think. And they think, this is a negative person. I'm gonna hang up on them. Because everything that I talk about and write about and post about is all from my experiences. It's not something that I read in a book and I'm just regurgitating into content.  When I got back in the real estate business in 2008, there was a lot of foreclosures. And I thought, yeah, I saw foreclosure agents making all the money, 40,000 a month, 30,000 a month, 50,000 a month. And I thought, oh, some of that. So I went down the road of being a REO agent. How do I do BPO's? How do I get signed over the name? How do I get on the list? I'm gonna work my way up to get these listings. So after about three months of that, I realized this is a dead-end road here. There's way too much to this. Those guys got in early and got their names. But now at this point, I said, and you know what I realized? I realized those foreclosure agents don't answer the phone. No, no, no, am I saying like, I'm not, sorry. Here I am, stereotyping. However, from my side, I'm thinking, okay, well, let's see how this plays out. These foreclosures right now are gonna be worth way more money later as the market rebounds. What if I represent buyers now while the market's down? While the market's down 50%, what if I represent buyers, a lot of them, and focus on that and go all in there? Yeah, a lot of work, show property, all this. I'm not sitting behind a computer, but I'm visualizing the fact that those buyers in two to three years are gonna sell those properties for a profit and then upgrade to something else and then refer five people to me over the course of eight years. So I saw an opportunity and I was able to visualize myself doing all this work for an explosive business over the next three, four, five, six, seven, eight years. And so I was able to visualize that, right? The visualization moment, let it come organically. Keep your head down and work hard, right? And you'll see, you'll start to see things. And as you start to see things, you'll start to visualize things, right?  And then what happens? You go all in and execute and this can help you build a predictable business. There's many, many, many visualization moments that I could share with you, right? And so these can be on a very small scale and it can be on a very large scale like the one I just shared with you. And really, that moment in 2008 was really what catapulted me to a place where I could close 100 deals by 2014. That was six years, think about that. I visualized that, I executed, boom. So I want you to take just a second and I want you to write down your five or 10 year big visualization or what your big five and 10 year goals are for your business.


Okay, very good morning. I hope everyone is well first of April Just having a look before I I get into the charts at a recap of course first quarter of this historic start to this year has come to an end and Just thought I'd run through a couple of stats and thought I'd start with this graphic as well this is just a look at some of the Dow Jones industrial average performances of some of the individual stocks in the index over Q1 and as you can see Microsoft just edging out ever so slightly a positive gain of point zero one percent Otherwise a loss across the board and as you can see here the lights are bowing down in excess of fifty percent So these these kind of travel related stocks bowing already facing a lot of manufacturing fault issues as well of late and then Exxon Chevron these types of companies associated of course with directly with the energy market given these Historical low kind of 18 year low prices in the in the crude oil market and then banks as well under pressure giving the squeeze on their Margins given low now zero interest rate policy, of course, which has been adopted In the first quarter the VIX hit a record high in mid-march Congress has approved a Record-breaking two trillion dollar dollar stimulus package with more to come a fourth one now They're talking about so quite an incredible start to the year and when you think about it This is just really the coronavirus. We're focused on at the moment but we've had tensions in the Persian Gulf in the Middle East with the Saudi Iran and the attack that we saw in those US Iraqi air bases We then had the trade war ongoing and phase one now, of course, we are in the pandemic phase and Yeah, quite Incredible start to the to the year overall from a volatility point of view Goldman Sachs, they've come out and this is kind of what I was referring to when I write my my week ahead piece In the macro menu about not really putting too much Kind of authority behind what banks are saying with their calls about the future Goldman Sachs have come out and basically revised again with a new forecast and they're now anticipating an annualized second-quarter contraction in America of 34% and they're actually saying that unemployment rate is to peak at around 15% around mid year of this year so Yeah, that's that's the latest of what they're saying continue to remain quite bearish and saying that the worst is still yet to come And we're going to talk about that for a moment but on that point of jobs a couple of Housekeeping points. I just want to make you aware of when I do post this video on YouTube I'll also share a link to an exclusive webinar that the team and I are going to be doing on Friday for the release of non-farm payroll So we'll start about half an hour before the actual data comes and we'll then cover it all And then also the open on Wall Street and then take a Q&A This is obviously going to be a Something of meaningful in terms of the the number in itself is is set to be one of the worst readings We've had since the depths of the financial crisis Whether or not that's going to really be too much of a surprise is yet to be seen But certainly it's going to be a volatile end to the week. So register for that I'll share the link accordingly in various different places Everyone's welcome to join even students if you are a student at the moment, obviously university is closed A great way for you to see markets in action. So do have a look at that also as well the Amphibian now platform are e-learning on-demand platform and I've mentioned this a few times before but I was speaking to some of our guys internally yesterday and We've actually added to new chapters to this. So not only is this now a Kind of series of on-demand videos of which there are 70 plus of really me and the head of trading peers explaining Lots of different market kind of fundamentals But we've just added two new sections one called macro now Which I'll kind of be in charge in and adding content and these are going to be little short kind of five ten minute sound bites Where I talk about key things I'm looking at in markets So for example, I get a lot of questions about one of the best Online resources to track the coronavirus. So I did a short video on that yesterday and then daily trade setups This is what Sam's going to do Sam being one of our traders and mentors He's going to at the end of every European session be doing a wrap that will be exclusive to the to the portal So hopefully that's a good addition. Do check this out and again. I'll share this link to this This portal on the video later, right? Well, let's get stuck into things Let's have a look at the charts this morning and definitely a risk-off field to proceedings equity index futures Already kind of sliding overnight in Asia. I got the S&P here, which are going to make a bit bigger in a moment And then that's fed through into the European stock indices So the DAX is down just over 350 at the moment despite some of these moves gold generally was Tracking lower last night, but since that Asia session has begun It has clawed back back to around settling on the $1,600 level for the moment given some of this new risk-off Asset class movement T notes up about 18 ticks and the dollars up as well a touch this morning one of the things was Just going to have a look at the the S&P 500 This was something which I was I was looking at yesterday And I was putting out a couple of tweets. This is one of the tweets that I did at the time Was here Not sure if you caught it. I know there were I was speaking to one or two people Remotely yesterday. I know a few of them got hold of this. I did feel quite strongly yesterday That the S&P 500 given the phenomenal run-up that we had had in prices over the course Of a pretty short time frame probably about six trading sessions. We'd obviously gone up over 20% Central banks have done a lot of different things in order to help Offset this impending downturn governments have been the same in terms of fiscal and stimulus packages That was one of the main reasons for a big part of the the kind of midweek rally We had last week But obviously yesterday was the month in the quarter end And I still felt that as a as you've probably come to realize every time I'm doing these briefings I'm I'm still fairly bearish at the moment and I still feel like the market is underplayed particularly From the United States point of view the impact and the severity of the what the coronavirus is going to have And some of that has come to reality so far this morning Because as I'm going to update you Trump has made a few new comments But this was something I tweeted yesterday morning. So this was the chart when I made that kind of call As I saw it and you can see the reason you know here is not only do I base these these kind of thoughts around a Fundamental kind of narrative, but you know strategically. How are you going to play this out from a technical? Entry point of view kind of the the technicals for me You give me a template and so here we were looking at the last week's high You've had kind of the failed rejection in the overnight Asia session. It came up again to have a test During the European morning, and I know that's where some of the guys did get get short at that point And then that was up at around the 26 34 type level And if we look back to the charts this morning Obviously that 26 34 mark was was here And it initially came came good pretty quickly Went all the way through the 2600 hand on we actually got into the US pre-open And we'd already come back down to about 2577 so a decent kind of 50 point move there Markers did come back up quite quite strongly during the open But then we've just seen a continued deterioration and you know since that that test on those levels The 34 mark we're all the way back down now to to a low point this morning. We've just printed at 2476 so yeah really nice Movement there Hopefully some of you continue to hold some of that position on those a few people Sam trading over the more kind of Medium time frame. I'm used to to see what he's got to say later when I when I do touch base with him But yeah, kind of then in fitting with this general feel that you know, the worst is to come Kind of like what goldman's were saying, you know, what we've been saying what Trump's now said Overnight and the other thing that I'm quite interested to watch now is how WTI crude Is going to perform and well, let's just extend that trend line Yeah, fairly rough, but I was looking at a trend line there previously on Monday When we broke above it looks like we're coming back down to test around those points It could be quite interesting around that But where we are at the moment is a $20 handle that obviously also being the late US session low That was when around the API inventories came out So we've had a bit of a test and bounce on that in the moment But definitely interested in keeping an eye on oil Just while we're on the subject of oil We did have the API for trees last night and as you can see here big builds across the board and this is really quite worrying for for crude it does kind of put up some more Potential pressure on prices the crude build and the headline was just short of ten and a half million More than double consensus the biggest build since Feb of 2017 cushing biggest build since Feb 2019 gasoline Biggest build since Jan 2020 so across the board bearish numbers and you know, there's been quite a lot of people talking about This idea of huge inch for infantry builds, but potentially exhausting existing spare storage capacity Which will mean the market balance requires an unprecedented output shut down by producers But quite on the contrary of course OPEC overnight have failed to unanimously agree on an emergency meeting of its Economic Commission Board According to sources Saudi and Russia are obviously still in this this standoff at the moment And as far as that goes as long as that continues and also with the the potential kind of Downside risk to the worsening of the coronavirus beyond what markets are kind of price for at the moment Does mean that oil definitely is on the radar today once again But let's let's go through a couple of different things and obviously Prudent to to do a full update on the coronavirus. That is one of the key things again That's driving market sentiment. And so from an overall global perspective United States now closing in on 200,000 confirmed cases total global case is just over 850,000 but this is what Trump said last night And it comes after he said that he warned of a quote painful two weeks ahead This is what they've been talking about in terms of the the kind of Compounding growth that you get with the way that which this virus tends to jump and then spread and multiply out each time And and what happened during one of these speeches here There was a presentation that was happening as my understanding and it was from some of the chief kind of medical Advisors and health aides and they basically showed a slide on one of the presentations which showed one particular projection where there was a potential for 240,000 Americans could die from the coronavirus now obviously much like when there's ever any type of scenario building or stress testing It's important to do a variety of different kind of worst case in in this sense in terms of highest rate to best case lowest rate Kind of scenarios, but but just the fact that they've said that of course this kind of puts the seed in in the psyche of Markets and can turn quite negative quite quickly because you remember the reference point before was Trump saying a hundred thousand And the chief medical staff in America saying 200,000 now you've got this 240 on the table And I was tweeting a Friend of mine in New York about this and we had a bit of an online conversation And he's there at the head of futures at a big US prop firm and This is one of the things I was saying was that from a fundamental point of view when you're looking for these cues for price action to unfolds It's important to try and lock into these kind of numbers that provide this platform Then for you to benchmark over what is actually worse or better than expected and certainly this number adds another 40k on the top New York City death toll now Norse of of a thousand and it comes as well where I'm looking at this FT updated tracker and You know one of the things here is these little stars I'm not sure if you've you've observed those before but there are these little stars here that Signify when there has been a nationwide lockdown put in place by the national government So as you can see here, there's some countries Like Germany for example that put the lockdown in Way earlier than most other countries if you look at the actual UK lockdown. We actually had Almost four and a half times more Confirmed cases before the lockdown went into place compared to Germany as a subsequently then when you look at the actual death toll You can see Germany is below that of the UK. So this is looking at deaths This is looking at the confirmed cases and one of the most staggering lines here, of course is here, this is a log scale on the on the x-axis meaning that it's not a Kind of fixed increment change going on the left bottom to top Actually doubles on each time to take into account then a much smoother line to look visually at the trajectory of these These cases, but you can see the American one has just really Shot higher well and out and above all of the other mainland European countries And now obviously north of well north of a hundred thousand here so The other thing was quite interesting when you look at it on here Is when you go really far out to the right is looking at this potential Secondary hump that you're seeing in China here and this again Just to reiterate is one of the things that that we personally have seen is quite a big risk is we're currently You know dealing when confronting this first initial outbreak and acceleration of the virus But there is also the few months down the line when it's the question mark becomes then the big one And then the road that the government will be split at is do we go down the path of some sort of degree of Normalization and return to normality Or do we go in this particularly gradual and arduous process of being so Slow but of being fearful of a renewed second wave of cases Obviously the latter has much more longer lasting it delays almost the economic recovery and they will be mindful of that But on the other side obviously this is a massive health risk of people's lives on the line And you know, so this is why I think it is a it is quite negative. I don't think people really thought about that Secondary part. Yeah, everyone's dealing with the of what's happening at the moment So I definitely don't think that as soon as you know, there's a peak. Well, that's it. There's a bottom There's a rally, you know, I think there's way more to this coronavirus development over the medium long-term then perhaps people Have thought and that's till this point keeps me on a on a very fairly bearish mindset as I said from a Death's point of view Spain Italy I mean the US is rising probably at the most steepest rates at the moment And one thing you would have noticed on that previous graphic with those stars America has not put a nationwide lockdown obviously in place yet so that means then that we can make the Assumption not actually plucking numbers But the numbers will rise and confirm cases quite sharply and as a knock-on effect So will will deaths and hence the reason why you're getting these multiple hundred thousand estimates to circulating at the moment Looking at the US in particular I mean this this puts it perhaps into a bit of perspective again As a reference point for when you hear news breaking and you hear about the the number of deaths and so on But this is looking at the number of deaths per day in America and as you can see here We're talking about 118 at this present point in time so as of the 1st of April, but here this is looking at over the next two weeks So this is looking at that Kind of peak in the the virus over the course of the next 14 days and then the eventual fading off of that But this is where the you have the the kind of breadth of the different projections The most pessimistic of course being that we get up to a death rate of nearly three and a half thousand On the upper bound or a more or more optimistic estimate We only go just over a thousand which is obviously still more than a doubling of where we're at at the moment So either way he's going to get worse But there's quite a big difference between the lower and upper bound of course and and this is what a lot of people will Be tracking going forward over the next coming days Similarly to what we've been talking about JP Morgan asset management They've come out with a research note this morning and generally the headline reads as Similar to what we've been saying. It's too early to buy stocks not yet confident advocating an overweight risk assets position Saying that the market still vulnerable to deterioration in the health situation pertaining to the the coronavirus of course so again, I don't think particularly groundbreaking but You know just to show that it's not just really it's not so much important what my view is although You feel quite strongly about the fact that the the getting over of this virus. It's going to be particularly difficult and perhaps more difficult so in its Overall containment and recovery periods is what I'm fairly bearish about But it's about understanding then from a trader's point of view investors point of view You know, what are all these big institutions saying and it's not just one or two like GS and JP. It's about what's the street saying? generally, so and the whole breadth of different institutions and different, you know In terms of their the most bullish and bearish scenarios It's good to get an overall feel for this to then have a more rounded idea about where does the general Market view sit because that will probably determine what's priced in and that's what you're really trying to determine as a trader If you know what's priced in and I know that's not a exact mathematical formula It but what you can then ascertain is how markets will react when new news does break and you get further developments On a separate note, we have had Trump. He is set to announce deferrals on some tariff payments But the important thing here this order does not apply to Chinese goods or duties on metal So it's a little bit of a soft touch in that respects and something to still keep an eye on between that kind of US and China Dialogue at this point in time. Okay calendar wise What have we got? These PMI numbers that are coming out are all final readings. So I don't think they're going to be particularly too much of interest but then later on this afternoon We do get the ADP national employment figure so remember this often acting as a precursor for the Bureau of Labor Statistics report will get on Friday non farms. So ADP today expected at minus one fifty however check out that for a range the median estimate So if you think about this distribution of estimates The curve kind of looks I guess if I was to shape it something like that you've got you've got a median of one Minus one fifty. You've got a best case of zero and you've got a massive tail like this Which is for the worst case someone actually is looking for a minus 1.5 million reading that would be Pretty huge if that did come out in terms of it as far as I Try to think of the numbers that have been in the past over the last 14 15 years Otherwise we've got ISM manufacturing PMI Construction spending you've got the the DOE energy infantry numbers So do you obviously keep an eye on those as well? If we do get a bit of a run further weight coming to the equity market again, Sam's going to share some charts with you guys, but Definitely if equities do come under an assault today then seemingly similarly I'd keep an eye on oil and if oil starts to break down Structurally and through 20 bucks, but beyond the 19 kind of mid 19 price points We were hitting at the beginning of the week Well, then that could further accelerate the kind of unwinding of those sharp gains that was seen in the equity market yesterday So yeah, definitely lots to watch in the session ahead Okay, that is it any questions, of course just feel free to leave a comment on the video I've been replying there's been some fantastic comments of late. So keep them coming And then if you have got this far watching the video and you're not subscribed to the channel on YouTube Just hit that subscribe button. It'd be much appreciated. All right. Have a good day guys, and I'll catch you later on. Thanks very much


Meat, milk and fish are critical to the poor both as food and income. While research has hugely increased farm production in rich countries, we haven't succeeded yet to help the millions of family farms and developing nations to raise their production very much. All that good science has not translated into significant improvements in the amount of milk, meat and fish that people are able to produce and put on their tables for themselves and their communities. To change this, we're experimenting with a new approach. The focus of research in the past was on research products. Now we're making ourselves accountable for getting research into use.  So what's different about this program? Well, for one thing, we're addressing the whole way these foods move from small farms to the plate. This is called a food chain which includes producing, processing, selling and consuming the meat, milk and fish. And, right from the start, we're working to design big interventions that can transform whole farm to plate chains in selected countries. This will help us scale up our research with direct benefits for large numbers of people. Also, we're teaming up early with development partners who know how to take these interventions to scale. Finally, our program is focusing all its research capacity on just eight farm-to-table livestock and fish systems, selected because their successes can be replicated in many other regions. These eight systems include small-scale dairying, goat and sheep raising, pig production and aquaculture in eight countries in Africa, Asia and Latin America. Our intention is to show that small-scale farmers and businesses already central to feeding the world's poor will be key to food security up to the year 2050 when global populations will peak. We want to demonstrate that their systems can be transformed and this kind of science can make a big difference in everyone's lives. By doing research in this different way, we expect within a decade to see more meat, milk and fish being produced and consumed by the people who need it most.


And so the topic of today's panel is the absolute state of money. We're going to come from it from a few different perspectives, taking advantage of some of their different backgrounds. Patrick is going to address a little bit of some of the history of the Fed. And particularly, I think what's interesting right now is that the number one issue in America today is inflation. And there's no solutions out there being talked about in the political landscape. You get some lip service from a public and saying, oh, we're going to cut spending. And then they give $50 billion to Ukraine. So this is one of those areas where there has been a void, I think, in serious discussion of this issue. And so then obviously, us as Austrians, this is an area that we can fill. And so that intersection of money and politics, there's a historical perspective here that Dr. Newman's going to provide. So Patrick, if you want to start on off. Sure. But whatever you prefer. All right. Prices over the past 12 months, since April of last year, have really gone up much quicker than what people thought they would have much quicker than what people estimated. The economists, the government, the White House has continually underestimated the extent of this inflationary problem. Inflation hit a high of 8.5% year over year in March. Slightly came down this week. The numbers for April are about 8.3%. This was higher than what, I guess you could say, the establishment forecast at 8.1%. So this is a big problem, right? Because right now, everyone's worried about rising interest rates. For those of you who participate in the stock market, the past couple months has been a rude wake-up call, you can say. And people are now worrying more and more about recession. The odds of a recession, economists forecast last April is about 10%. Now it's at 30%. And we all remember the run-up to the housing bubble when they said, no, there's nothing wrong. There's no recession. This is not going to happen. And then everything fell apart. So judging by the track record of economists missing the inflation boat, they'll probably miss the recession boat as well for reasons that I'll talk about in a little bit. So why have prices been rising? Well, we're good Austrians here. So we know that prices have been rising due to this enormous increase in capitalist greed, right? As we've been told, apparently producers, corporations have gotten much more greedy over the past couple months. And they've been jacking up prices. This is, of course, if you're reading a Robert Reich op-ed or something from Senator Elizabeth Warren, there's something now in the House. The House will vote on basically price controls for gasoline. So it's good to know that we've learned nothing since the 1970s. But of course, we know the real reason for the increase in the money supply. And it's the subject of the talk today. It's money. We've printed an incredible amount of money over the past two years. Money supply growth for 2020 was 25%. For 2021, it was over 12%. We haven't seen an annual growth rate that high, even just 12% since the 1970s, coincidentally, when there was high inflation. And this has been due to the same old reasons. Governments have been spending more money.  We've been increasing the money supply. The Federal Reserve has been increasing the money supply in different ways since 2008. And this has been driving up prices, right? In the Fed, the White House, everyone thought that these price rises wouldn't occur. Then they started to occur and they said, well, it's going to be transitory. Then they turned transitory to episodic. Then they said, well, it's going to be concentrated in goods. There's no inflation in services. Bear in mind, services inflation has been increasing rapidly over the past couple of months, worrying a lot of people. So again, again, again, they're wrong. And now we've been told that, well, the Federal Reserve will engineer the Goldilocks, right? The Goldilocks end to the business cycle, which is the soft landing. They're going to get rid of inflation from 8%. It's going to go down to 2%. And unemployment's actually going to continue to go down. So we're told. So it's like, wow, well, this is a great, this sounds amazing. And what's also interesting is that since the beginning of inflation increasing, inflation's always going to moderate drastically by the fall of 2022. There's some mysterious event occurring in the fall of 2022 where prices are going to now be under control and the economy is going to be great. And of course, this is the elephant in the room that's now becoming a bigger and bigger issue is the midterms. Because there's a myth that since the Fed's founding, it's independent. The Fed is outside of political discussions. And it's free of special interest influence. And that's a lie. From the beginning, the Fed has been a crony institution, beholden to New York banks. Jay Powell, for example, he was a former partner at the Carlisle Group, one of the world's largest private equity firms. Isn't that a little interesting that all of his immense money printing caused enormous bonuses for Wall Street? The connection is so clear. But the Federal Reserve is becoming incredibly politicized. Janet Yellen, Biden's Secretary of the Treasury, so a former Fed chair, Jay Powell, an Obama appointee to the Board of Governors. He recently just got reconfirmed as with some of Biden's new appointments. So the Federal Reserve doesn't actually want to contract significantly before the midterms because it's going to hurt the Democrats. And we've seen this before in history, most notably about literally 50 years ago, 1972, when Richard Nixon pressured Arthur Burns to keep the economy hot in time for his re-election, okay? So the Fed is going to contract, but they're hoping they only have to do it a little bit. They're just going to take credit for any sort of price fall that might occur from supply shocks easing, and then anything difficult they'll do after the election if they need to. But their hand could easily be forced before the election, okay? We've already seen a huge correction occurring in the stock market, right? Inflation is looking like it's going to be very persistent. There's worries now that it's going to start to affect the labor market. The economy contracted, gross domestic product contracted last quarter. So all we need is one more quarter, and then we're officially in a recession, the recession that everyone said wouldn't occur. So there we go, we're halfway there, right? Conditions aren't looking good. Conditions are pointing more and more towards stagflation, okay? It could be not as bad as the 70s. It could be just as bad as the 70s. It could also be worse than the 70s. America is in a position it's much harder to deal with stagflation than before. So this is sort of the problem that we face, and I think it's a very serious problem. I think we've got to look forward to some turbulence in the markets in the coming months, in the coming year. But I know that a great way out of this mess is if every politician and every Federal Reserve official read Bob Murphy's new textbook. So again, I just want to say thanks so much for listening and congratulations and I hope we have a nice meetup today. And then obviously one of the areas that has benefited from heightened awareness of concerns about the banking system, the dollar, everything has been the crypto industry, though recent news there has been turbulent a little bit as well. So Demelza, if you want to talk a little bit from that perspective with your experience in the crypto sphere. Sure, okay, well since we're standing up to do this, I'm also going to stand up. So you might not know me. So my name is Demelza Hayes and I was a 2014 Mises Summer Fellow. And even back then my research topic was on Bitcoin and I'm lucky that I grew up in the Libertarian space because I read the Libertarian Reddit and found out about Bitcoin early on 2013. And basically I'm not going to get into the debate whether it's money or not, but I will say that normally I would think money shouldn't make you rich. And Bitcoin made a lot of people rich the last decade. So I'm not gonna say it's not money but it's very volatile, it's a very volatile asset. And there's lots of ways that people are working now to use what's called a stablecoin on top of Bitcoin. So basically there's ways to send Bitcoin through the blockchain. And there's something called the Lightning Network which is basically trying to bring down fees and increase the speed of transactions of Bitcoin. But still people don't wanna spend their Bitcoin because the price of Bitcoin could go up, right? It's the supply of it is fixed at 21 million and every year the inflation rate, the daily inflation rate drops. Every four years that amount drops in half. So if you have this kind of deflationary asset you don't really wanna spend it. I mean I know of course in the Austrian economics literature we do discuss how eventually you have to consume. Even on a gold standard you eventually have to consume and you buy the asset, you buy the laptop that you want, you don't just wait for the price to drop every year and never consume.  They would prefer to spend the inflationary asset. So a lot of people would rather take out debt and fiat and put their savings in a deflationary asset like cryptocurrencies. So yeah, sorry a little backup about me. I am the director of research at Cointelegraph where the largest media company in the digital asset space and I'm also a fund manager. So I managed crypto fund from 2017 to 2019. Then I left that company and now I've just launched a new one based out of Switzerland. And I've lived in Switzerland for the last seven years well actually Liechtenstein but it's a close neighbor to Switzerland that most people have heard of here. And I don't have a structured speech like Patrick did but basically I was though kind of said let's talk about the US versus Europe. And my feeling is that the US entrepreneurs are scared. They don't want to go into the cryptocurrency space because they're scared the SEC is gonna come down on them or they're gonna be regulated somehow very tightly. And that's actually been the case. So a lot of companies in the cryptocurrency space in the US have gotten in trouble with the SEC. It depends what trouble means to you. Are you willing to just pay a fine and continue to do your business which is kind of what's happened so far. But there are other risks in the US. For example, even some entrepreneurs have released a decentralized software code which is not a company. They've not made a company that's a decentralized code that operates without them doing anything after day one. So the day one they release the code into the internet. People can use it however they want. And they don't have to do anything else to that code to be the company driving its growth or innovation. And so it's basically called decentralized software and even that is now have class action lawsuits against the developers that wrote that code in the US. So my experience here is that Switzerland and Liechtenstein and Dubai, there's a ton of capital going to these places. A lot of entrepreneurs, even the companies that have Americans in them, they set up their headquarters in the Bahamas or Singapore or Switzerland. So I mean I see actually a brain drain from the US, out of the US, which is shocking because I think the US, out of my experience living in like three continents in 10 countries, I think the US has one of the strongest labor forces in terms of skill set. Each individual in the US and how skilled they are, their ability to just be competent and read and write and get a good job, do a good job on what they are tasked with. And I see a big brain drain. One thing is like the crypto community in the US is kind of targeting Austin, Texas and Miami, Florida. Those are the two regions where cryptocurrency is really big in terms of entrepreneurs. And most of them still have their headquarters in the Bahamas. So they're not like, they're trying as much as possible to work in the US and be, but actually everything official is going outside of the US as much as possible. So going forward, I think that the US is gonna continue to have a brain drain and capital drain as well, also capital. As long as the SEC and FINRA and the CFTC as long as they always come down hard on the cryptocurrency companies. Right now FTX is a large cryptocurrency exchange and they're trying to compete with the Chicago Mercantile Exchange in order to basically reduce intermediaries when trading options and to make it more available to retail investors and the government's not having it.  There's just hard stops in the road towards kind of financial freedom now in the US. And listening to Dr. Robert Higgs years ago, he said have a mobile skill set and kind of get out of the country. And that's basically what I did. If you live abroad and you're married, you have a $200,000 per year foreign earned income exclusion, which I took advantage of, you don't have to pay taxes in the US when you're married in abroad, up to $200,000 per year. And then when I came back here, I got hit with a huge tax bill and definitely it impacts my standard of living, right? Because if I'm living here and I have to pay 30, 40% of the government, including everything, all the taxes, when you add them up, it's really stifling for my own investment. I can't invest in my friend's company or startup or an innovative idea that I might have because I've paid off my money to the government. So I think the beauty though of this technology is that if you're willing to break the rules, you have complete freedom.  But I think that if you still wanna have your assets in the US and you're not willing to leave your family on a plane and get out of the country, and here it's very strict. So I'm a little bit, it's been a tough move for me to move back to the US and to see just how the cryptocurrency community is different here from Europe. But yeah, overall, I mean, we can discuss later on about money and whether Bitcoin's money or not. I'd say, you know, it's good, I'm not gonna say it's good investment, I can't say that. It's more of an investment for me. I would never use it as money. I use it as money once, which is what they say. They say, oh, we need everybody to spend Bitcoin. I spent it once on a hair blow dryer in 2016. And today that price of that hair blow dryer is $25,000. So never again will I ever spend Bitcoin ever again for me, that was it. So I'm not spending Bitcoin as money. It's for me, it's my digital gold. So, okay, thanks a lot for having me. And then next up, someone who could talk perhaps a little bit about the center for a lot of that pain that you're suffering from the Beltway. Peter, I think it's a reflection of positive trends that we have some East's Institute people embedded within heritage now. So I'm very excited about that. No, I was stunned when Heritage hired me I was like, did they look at my background? Do they know, do they know about Mises? And by the way, Heritage has a new populist president who refers to our current government as the Biden regime. So his very first talk to the organization that caused a stir in the room. Half of us were cheering. The other half were not as happy. Okay, a theme in Patrick and DeMels's remarks so far has been that our country does have enormous potential obviously. To a large extent the past 200 years has been the American centuries. We have dominated technology, everything, culture and trends, sometimes for worse. We have enormous potential. We have the workforce, the resources, legal, financial infrastructure, but this potential is threatened. And so I'm gonna talk a little bit about that threat. We are located up in Mordor, land of volcanoes and permanent night. In fact, we're located steps from the abyss. We can literally see it spew forth with the smoke from the top of the Capitol. So one of my favorite memes is the weak man hard times meme. And it's on my profile over on Elon Musk's new toy. It's actually millennia old. Polybius described it as key close, the political cycle. And the trick of course is to make the good times long and frequent and the bad times really short, right? It is inevitable that you will have this cycle of good and bad. The good makes people take things for granted. They don't fight as hard against the erosion, but there is hope, right? You can either stretch it out or if the bad times do come, you wanna make them very short. Now for the first time in many of our lives, many of us I think do feel like we're standing on the edge of those hard times. The edge of a very tall cliff, long ways down. We do have all the hallmarks of the 1970s, inflation. I agree with Jeff and with some of the speakers. It is certainly hitting double digits. They're playing games largely with shelter. So at least 10 to 12% possibly higher. The economy appears very healthy on the outside, but once you crack the surface, there's worms inside. GDP strength is largely a statistical illusion from the long lockdowns, sort of releasing it little by little. If you actually look back to the trend before COVID hit, we're nowhere near. We're still, we're about five million jobs down, which as a percentage basis that would drive unemployment to six, seven percent. We have millions of people who specifically dropped out of the labor market. Many of them are being paid to stay at home. Meanwhile, things are breaking one after the next. We've had clogged ports now for about seven months. They have not gotten better. The media has found other things to talk about, but they continued. One of my favorite examples out of that, many of you might remember a few months ago, they had something like 100 ships off the coast of Los Angeles. And all the news reports had pictures, right? People would go up on the hills and they would take a picture of all the ships out there. So what they did was, they didn't fix it. It actually got worse. They instituted a system where the ships have to ask for a ticket, like a place in line, and they have to do that back in Shanghai. So now what the ships do is they just drive slow, okay?  So rather than being off the coast of LA, they're now distributed all the way back to Shanghai. So they play games. We've got new surprises really every week. We've got baby formula at the moment running out. There's chatter about blood pressure medicines, medical images for cancer screenings. It's just one thing after the next, breaking. And moreover, even that illusion, even that illusion of prosperity is fading. So Jerome Powell, he's already announced that he's going to sacrifice the economy to ramp up rates. He seems to think that it won't have to hurt too much. Because he believes, but he has already told us. He's going to deliver the bust after the boom. Put it together and we are facing the 1970s. We even have the riots. We have the urban decay. We have the FBI arresting protesters. It's almost a complete trifecta. In fact, we are arguably in a substantially more dangerous place in the 1970s for money. Because in the 50 years since Carter, we've built astounding levels of debt. Total debt in the US is up to 88 trillion as a nation. This is not counting the unfunded liabilities that government has promised. That 88 trillion is 1.1 million per family of four. That's for the average American. That is insane. It's 370% of GDP. That's up from 1.5 trillion in 1970, the last time we were here. By the way, it's up 35 trillion since 2008. For the government, of course, it's even worse. You've got the 30 trillion in public debt. You've got the unfunded liabilities. Even the public number for the debt is about 100 times higher than it was in 1970. Our population is about twice as big. So the government feasts you starve. Put it together in Powell is a deer frozen in the headlights. He talks about Volcker, how much he respects Volcker for his bravery. But he feels unable to do this. He keeps talking about inflation as if it comes. It's already here. It's tearing off our legs. But Powell keeps talking about how maybe someday we'll need to go Volcker. And he knows that he can't dream of it. It would potentially be 2008 on crack. You would have the inflation, the increasing stagnation, which Powell was going to deliver. And then you combine that now with a financial crisis. They've already got a taste of that with the taper tantrum in 2013, when they started threatening to pull liquidity out. Another ghost in the machine, surprised them in 2019 in repo markets. In some, they're terrified. They don't know what's gonna jump out if they try to fix it and the storm is already here. The best they've got is excuses. So they've got the intellectual bodyguard in media conjuring up new scapegoats. They've got Putin, COVID, voters who need to spend trillions on unicorn farts, which will make energy free. So what got us here? So governments in the 19, or governments in general, they deliver this kind of crisis for the same reason drug addicts steal your television. It's in their nature. They have the power, they can spend, they can control, they can chase sound bites and sacrifice the economy on the way there. And so they do it. But what of course used to happen is that the money stopped it, right? At some point, your gold would start draining out. There was some constraint on this irresponsibility. Now of course it doesn't. Now Reagan, to his credit, he did put the fiat sword away, right? The 1970s ended. Carter, I think unintentionally had a big part of it, but Reagan kept with it. But he never pounded that fiat sword back into gold, into something that would actually act as a constraint. So now by the time we get to Trump, gold was so outside the Overton window, it was so outside of mainstream thought that the very few who even understood what a gold standard did were kooks. In fact, under the COVID regime, we saw the ultimate argument against fiat in the form of the lockdowns, right? Those would never have happened if we didn't have a fiat regime. Just imagine, right? A bureaucrat, he's contemplating a 50% reduction in tax revenue, okay, from lockdowns. He would say, it's impossible, it can't be done. He'd be thinking of the millions of bureaucrats who are gonna lose their jobs, all the budgets that are gonna be cut. Nope, impossible, it's unrealistic. It would have never happened. So fiat bought that lockdown, you bought it, courtesy of the Federal Reserve. All right, so that's the bad news. Where do we stand today? I'm actually extraordinarily optimistic because I think we have a heck of a moment. First, we have the best opportunity in a generation to radically transform money, possibly even better than the 1970s. Things like Bitcoin did not exist in 1970s. There were people trying to make them by the 1990s. They kept getting hunted down by men with guns. In Washington, the mood is indeed changing very fast. When I joined about a year ago, I was told, gold and Bitcoin are fringed, don't bother, it's weird. Now, we're getting questions about it. I'm like, Senate candidates wanna know what's up with the Fed? What is the Fed doing? Are they gonna wreck everything? There has been a huge shift. We're actually throwing a Bitcoin-only event, which is the first time for us. It's really, I think the first time for a large mainstream think tank in Washington. We've got senators from both parties trying to speak there. There is a big move. So what changed? Two things. Number one, inflation, obviously. Number two, financial censorship. Voters can see the inflation with their own eyes. They're angry. We don't even have to make them angry. We just have to run with it. It's the single biggest voter-ish, as Patrick mentioned. That's cross-party. For Democrats, global warming is almost up there with inflation. But for all the sane people, it is by far the number one issue. And the inflation keeps throwing up these crises. Baby formula, whatever horror comes next. And then there's that other big driver, financial censorship. So libertarians and conservatives feel hunted. We are hunted. Ask a Canadian truck driver. A J6 participant. Even moderates are coming over. So Joe Rogan, Jordan Peterson, Elon Musk, these guys were left. They call themselves left. They are being red-pilled or gold-pilled, I guess, from a libertarian perspective. So people are coming over. They're coming over en masse. If you just look at the approval numbers of Biden, the entire information industry of the regime is dedicated to apologizing for this guy. None of it's working. So it's very encouraging. People for the first time are not believing what they're told. Now, I do love gold. I generally prefer Bitcoin simply because gold is centralized. It needs a bank. A hard bank, yes, but still a bank. And a bank has an address and men with guns can go to addresses and visit them and make them do things. So the financial censorship has specifically moved the needle towards Bitcoin, which, as Demelza mentioned, remains speculative. The main bet when you're buying Bitcoin is you're betting whether it will become a common money. And that's an unknown factor, and that unknowability fluctuates a lot day by day. So don't necessarily park the kids' college fund in it. The point is that there is a lot of attention moving towards those kinds of decentralized systems that are invulnerable to the state. Caitlyn Long's expression, it doesn't have a throat to choke. So that is sort of the middle finger that is bringing, of course, a lot of people in our movement. So I'll wrap up, and some inflation is putting hard money front and center. Financial censorship is putting Bitcoin or at least decentralized currencies front and center. The earth is moving politically. The stablecoin thing is going to get traction. Warren, Gensler, and SEC are trying to push that. It's a question of reserves. The reserves were lousy quality. This is pretty simple. But anyway, we'll see what they get out of that. But it's probably going to be relatively minor. At any rate, so that is the battle. Hard money, decentralization, power back to the people. If we win, we stop the cycle. The hard times delayed, possibly reversed. We have reversed them before. We have certainly delayed them. The Carter years gave us Reagan, gave us roughly 30 years of prosperity. Even Clinton was economically, he was nowhere near the previous Democrats. If we really win, if we succeed in killing Fiat, and using that to leverage massive amounts of power back to the people, we can think big. If we think of the dark days of Lincoln, you had hyperinflation, it was really a dictatorship. That then went into the golden age, the gilded age, the golden age of the Victorian era in America. It was arguably humanity's greatest era in just about every way. And that was only 20 years after Lincoln. It is possible. We can dream. It has happened. We've done it before. If we fail, we fall into the cycle. It marches on. The weak men make harder times. Economic depression, national bankruptcy, a regression to a time when survival was not taken for granted. It's not all bad. The pink-haired crowd will have to get jobs. They'll sober up. Bankrupt government stops micromanaging small business. It doesn't have the money. It even stops chasing down vigilantes. So that's interesting to explore. But it'll be very hard a couple of decades without a doubt, with many victims, some of them who will be our friends. So this is the battle. And I do believe that hard money is the cannon. Well, after a lot of the doom and gloom from the first two talks there, I was gonna ask for some optimism. And so I'm glad, Peter, you already came in there. So I'm gonna double down on the doom and gloom again then. I think one of the things that's become clear is that the regime recognizes the degree to which the next frontiers of political warfare are in the banking industry. You mentioned the way that American banks conspired with crashing dissent in the US, Canadian truckers. We've seen the way that the money system has been used with Russia and the Ukraine situation for geopolitics. What are your fears about, if we're seeing positive populist trends, we're seeing people recognize the state for what it is and increasing areas, what scares you the most on how this moment of crisis could turn even worse than what it is now rather than creating opportunities for kind of depoliticizing money? If anyone wants to start. Okay. Yeah, well, I'm worried that no one will learn from this experience, which seems to be a running theme. Again, I'll just reiterate, there's a bill in the House at least that the Congress is gonna vote on for again, cutting down on exploitative price gouging of gasoline companies, right? So this is the threat of price ceilings preventing gasoline companies, gas stations from raising the price at the pump. This is a very visible sign of inflation due to consumers. This is something that both parties are very concerned about, especially the Democrats. So we could easily just be, there's a significant amount of the population that yes does believe inflation has been due to greedy corporations and it's price gouging and it's taking advantage of people and they would support price ceilings with no understanding that price ceilings cause shortages, long lines. We did this before in the 1970s, Richard Nixon, price controls, Gerald Ford, win, whip inflation now, the long lines gas for Jimmy Carter. So we could see the same mistakes being repeated and thinking that the problem is due to something outside of the Federal Reserve, it's due to outside of having a central bank in control of our money. That's what I'm worried about that we're not going to properly learn from this. The public isn't going to be educated correctly on this. We saw the same thing with the lockdown. So that's what I'm worried about. I'm worried about having to wait in line for gas this summer. Oh, that's a great point. When I moved back here, I thought, wow, there's all these lines in America now. Like I just, growing up, I didn't have lines in Tampa for stuff. And now there's stuff, I mean, we have a baby, we buy formula occasionally and there's none. And then it's locked up behind a gate and you have to get one per person. And I was like, is this socialism or what am I living through right now in Tampa, Florida? But yeah, for me, I'm not scared because I think that we just have a parallel, we have parallel societies existing next to each other. And you're not gonna learn in public school how to survive and thrive in America.  It's only people that are willing to educate themselves every day that go online and learn and then join groups like this where they can discuss with other people to discuss ideas and how to navigate, living under socialism or going in that direction. So for me, I just see two societies, more and more the kind of mainstream news and ideas. And it's sad because where I lived in Europe, when nobody's tolerant in the European village, when you see somebody doing something that's not considered normal, you like bash them right away. Like the old grandma comes up and says, what are you thinking? What are you doing?  And maybe you can say that's bad or good, but here everybody's like, oh, who knows what their background story is?  Well, that's them. And I basically live here like that where I just don't get involved with other people's lives if they say that they have certain ideas. I just go on with my own ideas and I follow my own path. And it's kind of sad because I think it's the breakdown of society and I feel isolated. Like I can only come to a Mises event to feel community or go online in order to feel community. So for me, I just see two parallel societies and the decrease of the middle class here as the people basically do what they're told and do what they've been told by the media and by the public education system. And then there's a group of people that are just kind of completely skirting that and doing what they think works and they're doing all right in America. So yeah, I'm optimistic for the people that can use the internet now. It's widespread. Anyone with access to the internet can go online and learn about liberty and technologies that allow you to live a life filled with liberty. But for the rest of the average person, I don't think anyone's gonna help them out, at least not the government. Yeah, so revolutions are extremely risky for revolutionaries and they generally understand this. It's very common that a revolution backfires. You could argue it's actually standard. The left was, they were choking us. They had our throat, they have for arguably since the Pendleton Act, so 150 years. They were winning, man.  And we were talking about this yesterday. I mean, it's shocking. He was almost dead. Just keep doing what you were doing. They had every instrument, their brainwashing generation after generation. They held all of the commanding heights in our entire society, except for us. We're like the remnants. And that's when they decided to launch the revolution and God bless them. So at this point, the Overton window is wide open. And once you do that, once you crack that open, once we've been living this sci-fi world the past two years and a lot of people have opened up to a range of possibilities. And I think, A, this is the paddle. I mean, we need to be here right now. The stakes went up tremendously. We didn't ask for it. In retrospect, we probably should have. If you're losing, you may as well go for the final battle. If you're getting weaker and weaker every year, do it early. Don't wait. So they brought it. And so absolutely, I think that we actually have the opportunity now, because people see it with their eyes. It's getting bad so fast, baby formula, Biden's endless series of whatever it is he does. So if they bring the price controls, if they're going to bring all that, bring it now immediately. Because our side is woke. They've always burnt police stations. They didn't wake up from anything. Our side is the one that woke up. Patrick, you mentioned that one of your fears is that people are not learning the right lessons from this. I know one of the things that always comes up after meetings like this is, what can we do with this? And so I guess I want to get perspective from you three. How should we talk to other people about this money issue? I know some people, if the dancers, oh, we'll just buy a ton of gold or Bitcoin or whatever. How should we be trying to get other people to understand why this money issue is so important, and that there are ways out of it? What would be some suggestions you guys have? Well, yeah, I noticed it's easy to talk about it. I have, they know about the rising price of gasoline. Oh, it's back. They know about the rising price of gasoline. Some of them have had to pay higher rents. This is a rude awakening for many college graduates this year. They wanted to live in some dream cities. They're going to find out that's not going to be so affordable to live in New York City by yourself in a one bedroom or even in Tampa or anything like that. I really think the best way is to short articles, videos, just explaining, even when I've shown them, I've been on the news talking about inflation, just really hammer home the point about the Federal Reserve and the money supply. And it's in showing people how these actions resulted from the past. So just from two years ago, that this is something people have been arguing, what people said would happen, the lockdowns were, you couldn't finance them this way. You're going to see high inflation as a result. And I've just felt the basic communication teaching about the principles of monetary expansion, that at least for me has worked in just interesting some students, some people about inflation, where now there's just people who know about inflation. When there's people who know about inflation, there's people who are upset about inflation. And when there's people who are upset about inflation, they're going to notice that come the fall. So I already sort of consider that a little minor victory. The other thing I would say is make sure they read Dr. Murphy's book, right? It's a great way to learn about inflation and money. And so there's another plug, right? That's great. Yeah, definitely. On my side, I've already hired Mises alum in the company where I work. So I'm the director. So I've been able to put on my Facebook. Anybody that wants to get paid in crypto, live off crypto, come join us. And I had so many applications from Mises alum, and I try to get in new person one per quarter.  I mean, I think I'm sure they have other side hustles and everything, but a big chunk of their salaries paid in cryptocurrency. So I think a lot of young people are naturally going towards cryptocurrency because they can find jobs that are high paying. I mean, even if you work for Ethereum Foundation based in Switzerland, you get paid in Ethereum living in Tampa, Florida, you're earning a good salary, almost a Swiss salary. Or a salary that you could earn in New York if you worked in Wall Street. You could earn a decent salary, actually, without doing 80 hours a week at Goldman Sachs or Morgan Stanley. So there's a lot of people that would go towards the traditional finance route that are going instead towards the cryptocurrency market. And I think that once you get into the cryptocurrency market, you automatically learn about Austrian economics and sound money and libertarian ideas and the idea of liberty. So I think that just the money aspect is going to attract a lot of people to these ideas. Yeah, and so I would agree with Patrick, definitely. A lot of these topics are much more salient just because of the news cycle. So people actually care about inflation, whereas before, they just saw it as some abstract. If inflation is 2%, most people just do not care. You can try to do the long chart. Yeah, your money's lost. It just doesn't work. It's working a lot better now, particularly if their personal experience contradicts some official line. I mean, that's just pure magic. And you just want to grab that thread and pull that out of the sweater. The other argument that seems to be a lot more salient for people is the starve the beast argument, right? That fiat, I mean, it's pretty close to, I think, half of government spending at this point. It's the government has the ability to basically just take all of the pieces they want off the board. And so just sort of highlighting for people how fiat plays such a large role in that moving resources from the private sector to the public sector. And at the moment, people can, again, they can see it quite saliently. One of the things that makes, I think, the current moment, even more terrifying than in the 70s is that in the 70s you had Charles DeGaulle threatening the US by withdrawing gold, right? You had international power, people in power trying to compete with what America was doing. Where it seems now we have a global environment of central bankers that have all been following the same Kool-Aid, and in many cases going even further when the Fed has done and their craziness, which I think goes to why the dollar is still king. Are there any areas, whether it be within the US, be it internationally, where you think that you see some changes within the institutions in a way that might demonstrate that it's not simply the public waking up to the dangers of what government has done to our money, but that there are institutions at play that are taking significant steps to perhaps help pivot towards a de-politicized monetary future? And, Peter, since you've been nodding along, how long did you start with that one? Yeah, there are a couple of sort of interesting events within that. So one of them is the best performing, or one of the best performing currencies of the year has been the Russian ruble, because they have a sort of dirty backing with gold. It's not exactly backed by gold, but it stores that direction. And at any rate, the ruble, there's open questions as to what they'll do with it in the future once the war is over. But that's sort of prompt to add a little bit closer to the Overton window. Switzerland, of course, I think there's a large constituency in Switzerland. They just went off gold in, I think, 92 that they eliminated the last remnants of their gold backing. So point being that, I think gold is not as far away as we imagine if things get bad enough. There's also some other experiments like Bitcoin Legal Tender in El Salvador recently in Central African Republic. I believe that present there is actually a PhD economist, which I was not aware. But at any rate, those are rather interesting. Bitcoin is still a speculative asset, so that's not really having much of a money impact yet. But still, in terms of the Overton window opening up, it's quite interesting. Oops, okay, on that note, actually, I saw that Russia said that they are willing to accept Bitcoin for oil purchases. So there is a, in addition to two countries making Bitcoin Legal Tender, also many different parts of the US trying to do positive policies for Bitcoin and many countries around the world, I do think that there's a big push towards looking at what can the government actually take custody of themselves if they hold reserve assets?  And I think that any country that wants to do anything the US might not agree with, they're first gonna have to get rid of all their treasuries and all their exposure to the US dollar before they do that, otherwise it's gonna be frozen and then it's gonna stop them in their tracks. So I think, you know, we're going towards a kind of, you know, two monies, you know, we're gonna have the countries that side with the US and do what the US wants, we're gonna have China and the countries that side with China and then there's gonna be all these countries in between that wanna do trade with both or they have reasons why they wanna stay neutral and they're gonna have to use the third monetary system and, you know, go back to kind of this idea of a third world, you know, not the Soviet Union and not the US, now it's gonna be, I think, China and those countries, I think, can look at Bitcoin and digital assets because you don't have to keep your assets in London or Switzerland or Singapore near a gold market, you can keep them in your own private wallet held in your own country, you know, and nobody has access to that. I also, you know, just set up my IRA here in the US for the first time and I can hold Bitcoin and keep custody of my own Bitcoin in my IRA, so nobody can touch my IRA, you know, I mean, that's amazing for me because I didn't want an IRA with stocks that the government could just say, oh, that's mine now or, you know, in a crisis, so I think there's a lot of opportunities for Bitcoin and other digital currencies, so, you know, overall, I think there's a huge momentum behind it, it's just a matter of time, really. If you go back and you look at statistically, you know, there was between 2014 and 2022, if you held on to your Bitcoin for at least three years, you had a 100% chance of positive return, so if you go in and out, you know, there's a lot of intraday volatility and intra-week volatility, but if you hold for the long term and just convert it into dollars that you need to spend, you know, keep the six-month savings of dollars and then keep the rest in long-term assets, you know, I think it's great for me, it makes me sleep sound at night, knowing I can get on a plane to Switzerland or, you know, go wherever I need to go and, you know, provide for my family with that asset with me all the time and it's not relying on anyone, so, and I think a lot of other countries are realizing that as now they've seen that the U.S. is willing to do whatever it takes to, you know, force their foreign policy. I think the Ukraine war has at least led to a fissure among nations where you're seeing maybe some potential movement to a separate currency block with China and Russia in the Middle East and India and then the United States and Europe and then everything else in between, so you're starting to see that emerge, even though the dollar has done very well, if you had to hold one asset this year so far, it's, you know, it's the green back, the dollar's done very well, but there was an interesting article that came out, believe it was by Barry Eichengreen, talking about how the share of dollars held as international reserves in central banks and other institutions, it has declined over the past 20 years from I think like 70% to 59%, something of that nature and it's not a drastic crash, but that's noticeable slippage, right? The dollar will have its ups and downs and it'll be up during these periods of economic uncertainty, but you know, the American empire, the Pax Americana, that's long gone, so people are waking up to the American institutions and they're seeing that okay, the dollar, the American economy, it's not immune to inflation, et cetera, you're seeing this more and more in Wall Street, Wall Street's realized this, that okay, they got inflation wrong and I think you're starting to see now the articles are popping up, which means it's gonna be the standard narrative that inflation's, the new target may be above 2%, right? The Fed could say, well, 4% is the best one, we were wrong all these years, so you know, all we gotta do is knock inflation down a couple percentage points from supply shocks easing and then, you know, this will be the new normal, right? And I think people are going to be more uncomfortable with that new normal, which could be a potentially positive sign. We got time for, I think, one more quick lightning round. I'm gonna put you guys on the spot. Do you think J-PAL has the courage to have a Volcker moment or do you think we're gonna end up seeing a pivot? So for all the blustering that they're getting really serious about inflation, do you think they're going to end up chickening out or do you think that we are gonna actually see some confidence from PAL for a correction, if you will? Necessity is the mother of bravery and so he is, no, he's gonna chicken out until things get bad enough and then at that point, he'll do what needs to be done but there's gonna be a lot of pain before here and there.  I mean, if you, and traders do too, if you look at the DXY index, it just flipped yesterday for the first time towards downwards trend. So I think that markets don't suspect that they're gonna keep raising rates.  So I mean, it's just the bluff. I really don't think it's gonna be long-term interest rate increases but in preparation for that, I've done a lot of diversification and I also do market neutral strategies that can survive that market but I don't think it's gonna last. He'll chicken out at least until November. Excellent. Well, this has been the absolute state of money. So thank you very much for being out here today.


Hi guys, this is Aastha Singhal and here are 4 news to kick away your Monday blues. OK Google won't help your command your smart devices now. In a bit too further, the system security Google is getting rid of the ability to unlock the Android devices with voice match and OK Google command. And what's the new trend in the mobile market? That's right, foldable smartphones. With the giants like Apple and Samsung chasing the concept openly, Motorola has indirectly revealed its plan to enter the space too. Tech giants are betting big on cryptocurrencies. Facebook and Telegram are reportedly working on their own digital currencies for the millions of users around the world. Cyber security has become a major concern. In a recent incident, the video-sharing app TikTok has been hit with $5.7 million fine for illegally collecting information from children.