00:11:10 · Anthony Pompliano, Jan Van Eck
[00:11:10] S2: Makes, makes sense. Let's talk about the third theme. You and I were brothers in arms on this one. The government's never gonna stop printing money. [00:11:19] S1: Yeah. It's really a frustrating, from an investor perspective because I don't think we ever know when it's gonna hit the financial markets. It could be in three months. It could be in thirty years. So I say that upfront. And I also, in our third quarter review, really believe that the rise in rates recently was not credit driven. I think it was... Look, it's either inflation concerns, economic growth, or credit concerns. And again, I like to oversimplify. So which which one is it? Which one is it? Inflation, economic growth, or credit concerns? I think it was economic growth. Nominal GDP went up. I I don't think people... For a while, the ten year traded with, the price of oil. But if you look over the bulk of this war or conflict with Iran, you know, the ten year didn't go up. The ten year rallied in the beginning of the war. So I don't think it's just strictly oil prices that are driving it, but it's pressuring the rest of people's portfolios.
00:12:21 · Anthony Pompliano
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00:14:16 · Anthony Pompliano
Your CPA will want to see this before the end of the year, and so with attractive financing available, you can deploy these assets without selling any of your assets to do it. This is not some garage operation. Simple Mining runs over 40,000 machines and was just ranked the fastest growing company in Iowa on the Inc. 5,000. They They put together a valuable resource called the $20.26 Bitcoin Mining Blueprint. It covers the five mistakes investors make when allocating to mining and how to avoid them before deploying capital. You can access it for free at simplemining.iopomp. That's simplemining.io/pump. Go check it out today. What are you guys doing to help investors insulate themselves from this?
00:14:53 · Jan Van Eck, Anthony Pompliano
[00:14:53] S1: From the from the government spending? I mean, every time I have an opportunity, I'm like, you have to have real assets, gold and Bitcoin in your portfolio. You don't know if it'll pay off, but those times... You know, my dad started VanEck and he started the first gold fund in The United States in 1968. So I... He was a gold bug. I'm not a gold bug. You know, most of my career, gold's been going down. You know, it bottomed at $250 an ounce, which is when the Central Bank of England sold it, by the way. Good good good timing. So I am not a gold bug. It's hard to believe, but I do think this is just a structural risk. And the way I put it is, for the entirety of US history, there's been financial crises that have come from the banking system or other industries, like agriculture and then rolled up through the banking system. This is gonna be started in DC and it's... There's no... No one can bail us out. And I think the rest of the world sees this. China's holding of treasuries is down by half from its peak and they are buying almost half of all gold production this year. The private market, you hear about central banks ad nauseam. This is private Chinese investors. So the world kinda sees that we're doing this and they're like backing off. [00:16:12] S2: And when you're thinking about this in terms of gold or Bitcoin's price, you said maybe it will pay off. Do you have a probability that you would assign to either one of those?
00:16:12 · Anthony Pompliano, Jan Van Eck
[00:16:12] S2: And when you're thinking about this in terms of gold or Bitcoin's price, you said maybe it will pay off. Do you have a probability that you would assign to either one of those? [00:16:22] S1: Listen, I'm a long term bull, so I definitely think it'll be higher in ten years, significantly higher. I just I just don't know. I just can't imagine. You know, I ask people, Anthony, when is The United States not gonna honor its obligations? Some people call that a default. And then I say, it's going happen in the next ten years and literally 99% of the people say no. Then I say, what about Social Security? What's going to happen? 2032, six years from now, they're gonna cut payments to Social Security. You know, people would be very, very unhappy. And then people say, well, they'll make up the money from somewhere. I'm like, really? Are they gonna do that without causing massive inflation or or other kinds of risks? And you see how people have punishing politicians for inflation. Right? I think that's partially got Trump elected, think, the midterms. So what? We're gonna massive... We're gonna inflate our way out of our debt? It's it's there's no easy answer and it's not gonna be pretty. [00:17:20] S2: How does AI and maybe the deflationary, you know, of AI affect the government spending? Is there a world where they can keep spending but AI bails them out?
00:17:20 · Anthony Pompliano, Jan Van Eck
[00:17:20] S2: How does AI and maybe the deflationary, you know, of AI affect the government spending? Is there a world where they can keep spending but AI bails them out? [00:17:30] S1: No. I mean, they're writing checks to people, right, for health care or other... I mean, unless health care... Well, retirement, by definition, can't. And then health care, I I can't see health care costs coming down so much because there will be new technologies like GLP ones that people wanna spend money on. So... No. I mean... And people say, oh, AI is a new kind of technology. It'll... It's deflationary. I'm like, what do you think that PC was? What do you think the Internet was? Right? Amazon has cut the cost of getting goods to your home. So all technology is deflationary. There were... There was great technology in the seventies, but we had runaway inflation. So I think they're not not the same. [00:18:10] S2: Let's talk about the crypto ETFs. You guys have the Bitcoin ETF, but you also have really pushed to kind of pioneer a number of the other Altcoin ETFs. [00:18:19] S1: Yeah. [00:18:19] S2: What's kind of your analysis of that right now?