What our bank Bailyn's. Well, you're probably familiar with bank bail outs from the 2008 crisis and recession that emerged where the government used taxpayers' money to bail out the banks, which became one of the biggest scandals in modern history. So a bank bail in then is where the bank can legally. Take possession of your savings or your deposit and turn it into worthless banking stock. And yes, this is 100%. Legal More in VIDEO

The one thing to keep in mind is that a lot of people, no matter what the, what the situation is, we have a tendency to fight the last battle. So say we lost a sports game. We focus on you and whatever mistake we did, that's, that's, we're focusing on worrying about happening again. Same thing. When we have a recession, people always assume that the next recession is going to look like the past recession. Uh, and so what happened in the past recession that the chest nature's nine crisis and then the aftermath was that we had, like, as you pointed out, you know, central bank assets were very small percentage of GDP prior to them, uh, and banks were, were highly leveraged. Uh, and so what happened was when the private sector debt bubble blew up, so real estate values went down. All these banks were highly leveraged. They had, you know, very little cash reserves. Uh, so they, you know, they, they pretty much went and solvent. Uh, and so the federal reserve and the, and the...

Well, uh, they're, they're com things. I have a whole chapter on, um, you know, kind of investment suggestions, portfolio allocations, and all that. Uh, but, uh, the, the main thing to do is a couple of things to, they're almost constant, not quite cause it's not a set and forget a type portfolio, but you definitely, you definitely want a 10% gold. And whether it's. You know, physical bullying or, you know, some kind of fun. I, I recommend physical bullying, but, um, you know, if you have an ETF for something, at least you get price, exposure, um, gold mining shares, and you look at silver might have some of that, but I just don't recommend, um, a big slug of cash, maybe 30% cash. Um, I recommend lightening up on equities and the equities have a lock for the default. There's been a spectacular rally from March 23rd to September 2nd. We had one of the, we had the shortest bear market and the fastest returned to a bull market in history. But, uh, it doesn'...

Today we are in the midst of a technological revolution that is fundamentally changing our world, reshaping, how we communicate access information and purchase goods and services as the central bank of the United States. The federal reserve is charged with promoting monetary and financial stability and the safety and efficiency of the payment system in pursuit of these core functions. We have been carefully monitoring and adapting to the technological innovations. Now transforming the world of payments, finance, and banking. The effective functioning of our economy requires that people have faith and confidence, not only in the dollar, but also in the payment networks, banks and other payment service providers that allow money to flow on a daily basis. Our focus is on ensuring a safe and efficient payment system that provides broad benefits to American households and businesses. While also embracing innovation in the Fed's early days, the development of dedicated Telegraph wires fa...

The one asset class that I really want to focus on today is Bitcoin and cryptocurrencies in general, which really crashed today. Now that doesn't mean, I think the bottom is in. It's not, but we certainly got. A short term capitulation type sell off, which is something I have been anticipating and warning about for the last couple of weeks on this podcast. As I've been watching Bitcoin carving out a classic head and shoulders top, and to me, there was an extreme amount of complacency. In the crypto community with respect to this ominous technical side. And it seemed pretty obvious to me that we were going to get a pretty big sell off. And we did. We got the whole thing today. In fact, the big drop happened between about I think eight 30 and nine o'clock in the morning. Eastern time. That's where Bitcoin fell from about 38,000 to about 3000 within a half hour. That is a 20% decline in one half an hour. I mean, one thing that today's action should do once and for ...