tv Making Money With Charles Payne FOX Business November 12, 2021 2:00pm-3:00pm EST
at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. neil: the markets are doing flaw-- fine with all of this inflationary talk. up up up we go. charles: thank you, neil. have a great weekend, neil. good afternoon. i'm charles payne. breaking right now, but only some headlines on you 3 million more job openings than unemployed consumer sentiment cratering in part because 25% of people say their living standards are lower so again neil just asked the question why is the market rally and melt up mode and i have the answers and i will share semi- does i gave you
last week. all i am going to say is i hope you bought and i also have some amazing folks to help us out and could bitcoin really jumpstart our poor economy. why can the biden administration stop laughing when facing questions laying on the minds and wallets of americans? we will ask and hopefully we will get answers. all of that and so much more on making money. ♪♪ charles: speaking of breaking news, the united states seen the largest number of people's telling their boss to pound sand as 4.3 million folks quit their job in the september. it's a record and it speaks volumes about the labor market and our economy. obviously, it has implications for the stock market, so let's get the read. jim, i find it saying we never completely recovered and the labor force participation lost during the great recession so what are the chances we will get back to february, 2020
levels now? >> you know i still think they are pretty high, charles. i just looked at this earlier this week and if you look back throughout postwar history, this is the 12th expansion and the previous 11, everyone of them the labor force went up and set a new all-time record high above its previous recovery cycle peak, and i think this one is high. he couldn't not possibly, but it would be an outlier if it doesn't and in addition to that the labor force is currently over 3 million workers below its previous peak right now. that's never really been down that much either. i think some of the reasons for this are going to ease. you know i think a lot of people stayed home and are out of the workforce because of covid fears and now that we have more people vaccinated, that should ease. they stay at home because their kids are vaccinated yet and that's going to change soon. and, i think, the
biggest reason that we just had 9 million people, charles, come off an unprecedented extended unemployment benefits and they are going to hit the job market next year and a major mate-- supply surges so i think there are still good odds that we will see good growth in the labor force in the balance of this recovery to help a lot of the current labor shortage and supply chain problems we are experiencing in. charles: i'm with you on that and when i talk about the labor force participation that was from 25 to 54 which seems to be the curious phenomenon of people wondering at some of these younger folks who have left the labor force, but i think all the conditions are there. jim, we are talking about record quits on the same day consumer sentiment has crashed i mean is that a 10 year low. one out of four people say they have a lower standard of living, so again, the rally against the backdrop with 25% of americans still-- how do
you square that circle? >> well, if you look back historically at consumer confidence and what happens with the stock market, the best moves in the stock market are from the lowest confidence levels among consumers and typically the stock market gets in trouble when competence gets really high and extended. this is similar to unemployment. the unemployment rate is high future stock market terms are better when the unemployment rate is low so that's one thing to keep in mind and generally you see low confidence reads, by some stocks. i think it's because they are so much room to improve confidence and when confidence improves animal spirits pick up and part of that goes into the stock market. charles: it's interesting because we did start high and all of a sudden we are in a freefall, but i wanted to-- we have a minute to go, but i want to ask where is your portfolio leaning these days and where should we be most focused? >> well, my basecase
areas we are going to have a correction at some point, probably in the next six months. i also think we will end up the end of next year higher than today probably close to 5000 on the s&p 500, overall. i would be tilted away from the s&p 500 to the extent i can. i would be underweight there. i think it will be a losing year for the s&p 500 overall and i tilts -- the way you get away from it or move down and capitalization to small caps, and i think even international stocks next year, charles, might finally have a year about performance. charles: it has to happen at some point. have a great weekend, my friend. joining me now market watcher scott market and ryan dietrich. scott, the theme of the day is from 2021 and the new opportunities, investing versus mated the traditional approach and i have always seen you a sort of an older school guy, but i know recently you sold amazon
about netflix and some people said why would you do that and it's been absolutely huge. is that an example of may be some of the newer names starting to merge, may be a new set of names is starting to emerge that people should be aware of? >> yes. trading my age i guess, charles. making moves that are frankly out-of-the-box because no one had thought to sell amazon in the spring. i think charles, kind of letting go of the traditional like you said some of the names have been part of our portfolio for a long time and it's time to roll some of those out and i think find opportunities in some names that either people aren't talking about or folks are hating on after pulling down the stock prices where they are very attractive and that's when you have to take off things that are at their all-time high. charles: ryan, you know the history of the stock market better than anyone. this combination we are dealing with right now, have you seen a time
when inflation is rocking higher, slumping sentiment and then you have a runaway rally, i mean, that things like-- that seems like an odd combination looking at this from the outside. >> it does. that was a great answer by scott. turns out scott and i are both from springfield ohio when we went to the same elementary school. springfield, ohio, on the map. charles, you are right, i mean, honestly we haven't quite seen a scenario where inflation is low and stocks are up. when your confidence is low that tends to be a time you want to invest, but what have we seen before that we know the playbook? when earnings are this strong, s&p is supposed to be 165 at the start of this year and we are looking at probably 208. how much is the s&p up this year, about 25% and stocks are actually cheaper today than at the start of the year so as long as we have that tail wind which we think
is the still the case we thinks stocks will be bonds. charles: i love that you bring that up because there's always that debate over cheap and value and people are not factoring that in and that's an important point. you just said it, feels like the fixes and for at least the rest of the year. is there anything that could change that, ryan? >> i mean, everyone is bullish and feels pretty good. that right there, maybe you could get something there, but the middle-- first part of november, the last part of november is really strong, november is the best month of the year. troublesome area is in the middle at the same time, small caps, industrials, materials. they went sideways from april until recently and we have batons being passed around, the lifeblood of a bowl market. charles: scott, as a professional buying and selling the markets how do you grapple when you are buying at a market that's already rankled-- record
levels? it's a common question i get when people see me in the street. how do you say okay, we are at all-time highs and it feels like there's confidence but i still see value? >> you have to find the grenades, find things that the market is leaving behind in a couple names that come to mind recently, disney a much left behind and this really, peloton and paypal are two other names we have started to add to an tesla even pulled back someone elon musk sold a big share of the other day. the reality is that the market is going to go up. names within the market that will be left behind's are ones that you need to pick up because that's where the value allies. i don't like to chase big highflying names because those get really crowded and when they start to pull back the weak hands get out but if you pick up names that have already sold off, those are names you have to go after and a raging bull market like today.
charles: full disclosure i'm pounding the table on paypal and some of the names you just mentioned. ryan, great year this year. take us to 2022. what does your crystal ball say? >> we still think it's a bull market but let's look, a couple years ago 30%, last year gained a 16%, they share 25%. we don't think it will be that good, but the last 11 times the s&p 500 gained at least 20 points for the year and we will probably be in that situation this year, the next year 10 out of 11 times up a 14% average, so maybe we don't gain 30%, but things still look good and history would say the bull market is still here. charles: springfield? other than you two guys who's the most famous person from springfield? >> john legend, dave verma, they are up there susan: they are in the same level as you two guys, but they
are getting there. shout out to springfield have a great weekend, guys. great talking to you. so, forget about this whole thing bitcoin 100,000, that doesn't even matter, what have i told you that bitcoin could prevent future wars? i'm going to be talking about that with michael salo coming up and also the white house insisting that the economy is strong. peter says thank you to the feds. what's next? peter is next. (rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. ♪
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give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. charles: make breaking news, the shares of a luxury-- the world's wealthiest folks have been bidding up and buying up all of that stuff and i can tell you many say the reason that stock is through the roof and is the stock it is because it's a central bank. i want to bring in the chief economist peter schiff. peter, you've obviously talked about this for years, but the-- there's
the sense that if central banks tied to reverse course that the entire world will be in peril. your thoughts? >> they can go back, but without a lot of pain. i mean, you can continue with a drug habit or you can quit the habit and go to rehab and go through with draw i mean is the right thing to do, but it won't be that pleasant and that is the problem we have now. we are addicted to monetary heroin and there's a lot of people talking about inflation because now the inflation is manifesting itself, not so much just in assets, but in consumer goods. people feel the inflation at the supermarket, at the gas station and the pain is going to get much more intense over the coming months and years. this is not transitory. this is the tip in inflationary iceberg and i think it's much better that we deal with the problem rather than just keep making it worse. charles: peter, when we deal with the problem i guess it would be like is there any way
all these folks that didn't get any of the high from the heroin you talked about, the monetary economic heroin, but they have to endure all of the pain, i mean, how much pain while they take if we had to unwind all of this from the central banks? >> not everyone on main street will lose because if we do the right thing , asset prices will collapse stocks, real estate, bonds, that may make real estate more affordable for some people on main street. also government spending is going to have to be dramatically reduced, so that's going to hurt if you are living off of the government, but if you are working paying taxes, that may come as a bit about relief for you so there will be winners and losers, but the biggest losers will be the big and it-- the biggest beneficiaries of the policy and that will actually be the very rich. charles: one of the smart, you know there were pre-1920s when the government cut spending that
actually got the entire economy moving on one of the things-- larry summers is making the rounds saying the market should brace for stagnation. do you agree? >> stagnation for sure, but not japanese nation, we are in much worse shape than japan. remember japan as a high savings rate and they continue to have trade surpluses, continued as a creditor nation in america is world's biggest debtor nation. we are shattering the record for trade deficit, so we are up in debt and we have a completely dysfunctional economy that's propped up by inflation. you live by inflation, you die by it and that's what's about to happen. charles: i want to ask about the fed, a lot of politics with the big push for brainard to be the next fed share and there's a headline today, so if she gets the job, they pushed paul out and put her in, what would that mean for the economy?
>> it's going to be even more inflation and bigger government, i mean, she will be worse than powell, not that he's a good chairman, it's just that brainard would be even worse, and even bigger dove if you can imagine so she's going to send a message to congress to keep spending and keep borrowing because she's going to monetize all of the debt, which means the inflation tax which is already bad will get worse. charles: i have been reading more and more the last couple of weeks as i look at historical charts and whatever, right at this moment for one of those monster decade-long rallies, i'm sure you believe that, but do you think we could-- maybe it's already starting to happen? >> yeah, i think we spent the last decade consolidating the gains of the prior decade. remember in 2001, gold was under 300 and it rose to almost 2000 so it went sideways for 10 years but it's built an incredible base and i think what will happen is as people realize
that inflation is not transitory that it's here to stay, and more importantly that there's nothing the government is going to do about it except make it worse, people will start buying gold again as a store of value and as an inflation hedge and eventually when the crypto bubble pops a lot of the money they be that has been going there will return to real gold instead of chasing fools gold. charles: we will leave it there. i'm intrigued with this set up for sure. peter, thank you. we will talk soon. >> thank you. charles: more proof you can make money watching this show and be part of the new investment revolution, a stock i told you about last week has been on fire, but people have been messaging me what should they do now. i will let you know if it's too late or take profits. bitcoin shattering the financial establishment, can it's next stop be in stopping future wars? i will explain when we come back. ♪♪
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charles: folks, i went to keep reminding you that we are in the midst of the fourth industrial revolution and it has so many moving parts, but it's changing every facet of our lives turning the establishment on its head decentralizing financing and crypto currencies only part of the movement. joining me now, michael sailor. i go, you are at the forefront of the bitcoin revolution and you put your money where your mouth is. how it's changing humanity, but let me talk about your business for a moment. micro strategies extraordinarily successful, business offer, at olympics, i love the role of software. i love it as a service. these new names are going through the roof. where is all this going? >> everyone in the world
wants to be smarter and our mission is to make them world more intelligent, so all of our customers are looking to embed intelligence into their applications, delivered to their customers, deliver it to their employees, they wanted smarter, they wanted faster, they want to run it out of the cloud and so the last two years have been really good for us, it's just a surge for intelligence everywhere. charles: this is just sort of the beginning. i feel like it will be one of those decade-long companies that totally changes mankind in general. >> everyone expects to have the answer at their fingertips either from their iphone, tablet or in front of their computer and it used it to be i would say i will get back to you, but now you are expected to know in real time and there's more information than ever, so a real deep thirst for intelligence everywhere. charles: what about this meta- burst? i'm reading where maybe it could upset or change
the crypto revolution. will they coexist to look, bitcoin and the lightning layer of bitcoin is critical to delivery and cybersecurity to the meta- burst and to social media in general. right now we are beset with the challenge of the meta- burst in social media and the problem is a span, denial of service attacks, scams online hostility and the reason we have those problems is because there's no cost to attack someone online because there's no-- with bitcoin you can wrap some money around your cyber process owner and is like putting up a security deposit in cyberspace. there's fines, speed limits ants civility so if you want to deliver safety and stability to the meta- burst you will do it with digital property in the dominant digital properties bitcoin. charles: when we change the nature and access to money obviously we are changing everything and earlier in the week you retweet it something
thought was interesting. it was a drawing on a piece of paper that said if every major asset carries a monetary premium then must be defended with human lives and that bitcoin could pay-- play major role in changing all that. we are talking about ending wars. how does that happen, michael? >> if all of the money in the society is in the companies and the land and in gold, then that spoils of war, if you fight a war you can take the companies, the land and the gold, but if the money in the society is in a synthetic digital ads set called bitcoin in cyberspace, then it doesn't help to conquer the country. you are not going to get the money, so the incentive when you have analog assets in the real world is violence, killed the other person and take the property, but the-- when you have your money in cyberspace it's negotiation and peaceful resolution. i will negotiate with
you to get half the money then to kill you and get none of it so criminal behavior doesn't work in cyberspace nor does work , so that's what's going on here with bitcoin. charles: absolutely fascinating. before i let you go, we always talk bitcoin, e cerium is strong, at some point will you diversify your micro strategy balance sheet with district crypto? >> bitcoin is universally recognized as property so it's the institutional investment great asset in this space if you want long-term value and the other crypto's are either technical bc investments, so the speculator or for venture capitalists they might be interesting, but if you are an institutional investor or publicly traded company i think you need to stay in the institutional investment grade asset. charles: i salute you. you put your money where your mouth is. you put your reputation and company on the line and you are coming out smelling like roses.
every time i hear someone that wants credibility, they drop your name. >> thank you. charles: when the pros miss the rally they complained about the market being in a melt up, but why complain when you can make money? surge in prices, border crisis, ambitions of china is no laughing matter to americans so why can't the biden administration stop chuckling about them? ♪♪ ♪ ♪ remember when no dream was too big? ♪ ♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies
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call or go online today for your free copy. kevin! kevin? kevin. oh nice. kevin, where are you? kevin?!?!? hey, what's going on? i'm right here! i was busy cashbacking for the holidays with chase freedom unlimited. i'm gonna cashback on a gingerbread house! oooh, it's got little people inside! and a snowglobe. oh, i wished i lived in there. you know i can't believe you lost another kevin. it's a holiday tradition! that it is! earn big time with chase freedom unlimited. how do you cashback? chase. make more of what's yours. charles: part of a new investor revolution is ignoring traditional wall street truisms because the most pervasive is that individual investors are too dumb to make money and investing so why would you listen to wall street tourism.
actually in many ways it gives the individually big time advantage and think its knowing stuff in real-life, real time long before it hits the spreadsheets in the income statements. moreover, the street has an affinity for not making money for the wrong reasons case in point would be the dreaded market melt up. almost every time you hear that term it means mostly uttered by those who have missed the rally. they should be saying i missed it and i wish it would come down, but you can make money. during the so-called melt ups you get short squeezes and i bring this up because less than two weeks ago november 4, i gave a list of candidates and at the top was big five. it's only rallied 40% since then. yes, take profits. that's a truism that will never go wrong and by the way speaking of shorts i also called the financial media a loser for giving these short-sellers too much air time. more often than not companies targeted get
little warning. they get no time to push back and i was really referring to a short report on mt materials that said the stock would drop 60%. i called the financial media a loser last friday in the stock has been up 23% since then. for more on the emergence of new companies, new ways to make money in the market i want to bring in mark tepper. mark i will start with you. you gave us a shift. i remember i was in it. maybe you saved the day's but it's been a juggernaut. >> it's been a rough ride. it's been a great stock. it's our e-commerce play because obviously they make the chassis for delivery trucks and kind of retrofit the interiors. it's been one heck of an e-commerce play. we all know there's a truck shortage, so we need more and more delivery trucks and orders just keep coming in. charles: on the sort of related
to that is all the excitement and electric vehicles a particularly electric trucks this week with the ipo ruby in and i was shocked to learn you thinking this whole race it will be the traditional names that win out. >> i think right now there's a difference between where i think the new up and comers ultimately get share versus where they are now. i think the valuation-- i think it's bonkers, a technical term and i worry. where they are right now i would rather follow gm charles: we are in the fourth industrial revolution and its phenomenal. i love it. i love the layers to it. you see all these young companies, the new up and comers and forgetting about the short-term cost, where should people have exposure to for like the next two, three, four years? >> i think and beyond we have longer than that because valuations are
so high so robotics aren't going away anytime soon and that's why am bullish on amazon. they are spending a ton of research and development money there. i'm big on semiconductors. a chip fuels everything we touch now. charles: mark, you have the next ship for us. >> do we have time for two? charles: give me two ischemic joint core, basically a chiropractic franchisor. we are all getting older and we want to improve our quality of life so chiropractic care is in higher demand than ever. the other one i mdi basically the next generation of chips for autos, so specifically a vas systems. quite frankly the chips are imperfect right now. i know what i'm driving down the road and there's a vice a list on my right and i try to swerve in my car slammed on the brakes and tries to pull me into the biker which is not safe
so kind of defeats the purpose. charles: especially in ohio. >> you either had a biker or a deer. charles: so, you mentioned valuation and obviously the market is exciting. for someone who is in it, actively, it's a challenge. how does someone deal with the idea that i want to wait it out until valuations come down because sometimes that could be a month, a year, two years, sometimes you could pass that on to your children. when this valuation thing would stop, you could miss some opportunities. >> i have a, by the way. i think i spend more of my time as a private buyer and i will say i'm hearing more and more investors in the same space now saying out loud things are now getting-- [inaudible] charles: when they say that are you talking about different levels of raising money because i think now the average time to
bring the company public is like 12 years. i have always hated that. i think it's not right for the public that they bid up these companies privately and then they force them upon the public. you could now get a bite at the apple. right now airbnb is starting to make a move after getting pulled back. it's so sad the public has to buy them at the top as a way for the rich folks to get out and then often the stocks go down than then you buy them, to your point. isn't the private, i mean, it's much as we want to say wall street is greedy isn't silicon valley valley even more so? >> tough. charles: i don't want to put you in an awkward position. it might be easier to run over a biker in cleveland and then to answer this. >> your question, will it ever change and i think there's a move to try to increase access to private investing and let people invest in the private market and to be able to access deals earlier and look to
different class-- platforms. we are not there yet. charles: and it's not spac. >> it's not. charles: what else do you like here, mark? >> well, you talked about almost like a peter lynch thing as you were rolling out this block investing in things you know and understand, so durham tech just sold off. they have a sticker that detects melanoma so rather than going to a dermatologist where they cut five spots out of your body, they put a sticker and it's like four times more effective at diagnosing it. i go to the dermatologist regularly. they finally got the big posterboard in their i think that will be a big hit over the course of the next five years. great buying opportunity. charles: i love to have both of you in the studio and picking your brains. great honest conversations and helping people to try to make money. >> appreciate it. charles: have a great weekend. up next, folks we all get a chuckle from time
to time but the nation is now laughing mood when they are trying to seek answers to the most pressing issues of the day just wishing someone in the administration would give us a straight answer. we will be right back. ♪♪ - i'm norm. - i'm szasz. [norm] and we live in columbia, missouri. we do consulting, but we also write. [szasz] we take care of ourselves constantly; it's important. we walk three to five times a week, a couple miles at a time. - we've both been taking prevagen for a little more than 11 years now. after about 30 days of taking it, we noticed clarity that we didn't notice before.
- it's still helping me. i still notice a difference. prevagen. healthier brain. better life. ♪♪ it starts with a mother's determination to treat her baby's eczema. and grows into a family business that helps thousands more. it starts with an army vet's dream of studying the stars. and grows into a new career as an astrophysicist. it starts with an engineer's desire to start over. and grows into an award-winning restaurant that creates local jobs. they learned how on youtube. what will you learn? (rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf.
[laughter] >> that is hilarious, that i had the magic wand. >> that's not my lane, here. my job is to be the climate guy. charles: the administration chuckle, now, we just added john kerry to the administration officials that just kind of chuckle when presented with a tough question and in his case he was asked how the us could cut any deal with china on climate change as they-- their communist regime continues their brutal treatment of minorities and their neighbors. district media president beverly hallberg joins me now. may be better than media training is to give
honest and ours and if they are ashamed of the answers then maybe they should rethink these policies. >> what a novel concept. i think they think with the cover of the media they can juggle, but this defense mechanism which is gaining traction doesn't work. first in five think chinese labor labor is a joking manner and it also points to them not being able to answer the tough questions and i think that's why you see kamala harris hello in her approval radiance. she chuckles a lot and is not translating on camera. charles: i went to say congratulations on your marriage >> thank you. charles: let me tell you what i think the biggest loser is an is the federal government vaccine mandate, i mean, the biden administration is being sued by states, trucking associations, supply chain organization, national retail collaboration in all of these folks are critical so part of the supply chain issue. they say the mandate is
making things worse and they are all taking the administration to court. what are your thoughts? >> and they are asking for people to be whistleblowers. what they are really asking people to do is to be a snitch and i don't know about you, but i was told growing up not to be a tattletale, not to get someone else in trouble and so i think this will be devastating to workplace morale when you have colleagues turning each other in. how will that lead to a work environment that fosters teamwork? >> they say snitches get stitches, but that's a whole different story. investors continue to get into the market and they are determined to do things their own way bringing fresh independent thinking. we had a big town hall this week, strong viewership and accolades keep coming in, but you know i feel so blessed to even know these folks and what they are doing i just want to let them know that i always got their back so salutes to
all the new investors out there. >> my winner of the week is a someone making a lot of money that's taylor swift. she's a multimillionaire , but she's decided to regain control of her music. she's re- recording and releasing six of her albums and this week she released the second called red, taylor's version so not only is it a way for her to have rights, but it's getting her album out again making money on it again so i think it's brilliant. charles: amazing. i think everything i talk about is controlling your own destiny no matter how you have to do it and even people who are rich have to re- gain control of their own destiny from time to time. give a sure loser. >> lebron james who keeps making mistakes on twitter. this week he decided to tweet about the kyle rittenhouse trial where he actually said and we are sticking with the laughing topic today, three laughing emoji's
saying he didn't really cry and he must have had some sour lemon heads, so i'm just going to put that out there that as something as serious of this is no laughing matter regardless of how you feel about the case. charles: it's hard in this country these days not to see everything through political lenses and i think once we stop doing that maybe things would get better. fantastic to see you, beverly. again, congratulations. >> thanks. charles: earlier in the show michael seiler and i talked about bitcoin possibly preventing future wars from erupting and now, we are going to go another step, how about bitcoin jumpstarting poor economies and may be sparking a more inclusive economy in america. we will explain, next. ♪♪
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charles: breaking news from the white house right now with president biden meeting with his cabinet for the first time since this summer. he sung the praises of his infrastructure bill and was again preached in the notion of his spending plan saying it will in fact ease inflationary pressures on our economy and not make things worse. president biden also saying he will appoint a
new infrastructure chief sometime next week. folks, for years you have heard me complain about the lack of the velocity of money, that's cash moving around a community where several people touch and benefit let's say from the same 50-dollar bill, i spent it, someone else spends it, it just goes around and a ground and since the 1980s the money supply has actually erupted, but gd pete-- gdp growth has gone lower and lower. you can see the top where we went straight down. i was reading a story about how bitcoin was helping to rebuild a city in the condo that was devastated after a volcano erupted earlier this year and it makes me wonder, could this be the answer in where e velocity of money and a system that would work much better than, say, higher taxes which never create real prosperity. i want to bring.
hello, yes, this is why i'm so i think a nation that lives by the money printer runs the risk of dying by it as well. we made stuff, now we're the world's biggest debtor nation. we hardly make anything except debt. everything is distorted, charles. inflation is good. our economy is like an airplane flying without an altimeter because we have no price signals based on real interest rates, and we haven't for a long time. we have a system where insiders create disproportionate access to capital with low interest rates, and that capital goes where? into stocks of companies that have no real growth. they just issue easy government money to buy back shares and create synthetic growth in these market bubbles, they buy up real estate and turn the country into renters. it sucks the life out of savers and benefits asset holders. all of a sudden we have
politicians who contributed to this problem who have no clue saying, hey, i'll fix it by handing out more easy money. the government cripples you and then hands you a crutch and and says, aren't you happy i handed you this crutch? that's why bitcoin is so much. it's programmatically scarce, hard money, and bitcoin literally seeps on corruption and boy, is the plate full, charles. charles: the condo story reminds me of your own journey, your family's journey on coming to this country and why you left. tell us about that. >> yeah. my family came here from poland. they know what it's like to grow up in communism, and they're actually worried we're headed that direction in this country, and i don't blame them. they came hear for the american -- here for the american dream. they wanted a middle class life, not some mansion in beverly hills, but i've been sort of watching it on the front lines
as a letter for the last ten years. it's harder and harder for people to have a decent life and a normal job without needing to become stock traders on the side as a hobby. and i think we have all this division in our country, charles, because we are basically trapped in this paradigm of our own making, and we can't envision something outside of the system. but that's when bitcoin came along, and it offers us to take back our freedom, take back our power, and it sort of allows you the chance to opt out of this broken system and into one of abundance. charles: i tried to buy bitcoin on a pullback, the first time at 21,000, tried to buy it at 17,000. my count wasn't right. i put 100 grand in a coinbase account this week, and now i'm waiting. are you just bitcoin only, natalie? give me some suggestions. how should i -- i want something solid, you know, of course i'll get bitcoin, but what else should i do? is there something else other than squid game i should do on the high risk sidesome. >> yeah, sounds like you want high risk, so all of them.
all of them except bitcoin. just bitcoin. [laughter] only put in the money you can't afford to lose in bitcoin. the rest, you know, speculate and gamble as you want. [laughter] charles: well, but ethereum is getting a real good reputation, and i think there was more traded on coinbase for the last two quarters now. what's up with that? >> you know, i think there are a lot of people that are speculating about ethereum, but we have an exciting upgrade coming to bitcoin which is going to unlock the potential of smart contracts which drives a lot of innovation on the blockchain. i think once again bitcoin's going to outcompete. charles: 100,000 has been tossed around, but now at 60,000 it doesn't seem like, yeah, okay. can we go much higher? is it too early to start talking 500,000, eventually $1 million bitcoin? >> yeah. someday we're not even going to worry about the u.s. dollar value. but, yes, i think that we're
going to hit probably six figures in the next few months. i'm very, very bullish on it toward the end of the year, and eventually i do believe we're going to see a $1 million coin. bitcoin can have a run -- charles: okay. we've got you on record, natalie. thanks so much. [laughter] appreciate it. that's a fantastic story, you and your family and your journey here. now to liz liz claman to contine our journey in this last trading day of the week. liz: absolutely. major bitcoin news. the new york federal reserve web site about to break what could be major news. exactly when and how tapering will begin. we've got our eyes on the new york fed web site waiting for that flash. in the meantime, the the bulls appear to be prepared. major indices in the green right now, but as we kick off the final hour of trade for the week, a tsunami of news hitting the tape. the sec rejects